5 Crucial Mistakes Entrepreneurs Should Avoid When Buying an Existing Business
You’ve decided to purchase an existing business. You have fresh ideas and plans to make your new venture a booming success. Before you jump in with unbridled passion, it is imperative you check your ego at the door and consider the costly mistakes your enthusiasm…
5 Ways Small Business Owners Can Make the Grind Work for Them
The daily grind is the great equaliser. Young or old, strong or weak – all eventually fall to the grind, and nothing has as much of a grind as running a small business. There’s tons of daily minutiae to worry about, and if you don’t…
Best Practices to Improve Your Entrepreneurial Well-Being
Success in business demands that you give a lot of dedication every single day. You need to ensure that the clients are satisfied in order to propel to the next level. Therefore, most of the time, you have to push yourself beyond the limits and…
5 Factors Entrepreneurs Need to Face Before Making the Leap to Entrepreneurship
That tiny voice in the back of your head is growing louder. Those aspirations of building your own business are becoming too hard to ignore. If your heart, or head, is telling you the time is right to make the leap into entrepreneurship, there are…
Are you a level 1 or 2 thinker?
Decision making is as much art as science. The goal, if we have one, is not to make perfect decisions but rather to make better decisions than average. To do this we require either good luck or better insight. And since luck isn’t really much…
Five ways to motivate your employees towards excellence
If you’re a small business owner, you know how crucial your workforce is to success. When your operations begin to expand, and your employee numbers soar, this can really bring a new dimension of pressure to the business owner…and often results in a drop…
Tips for optimising your small business
Have you been operating your business for a while now, and have the lingering feeling that things could just be doing better than they currently are? I often talk to people just like you, and it’s all about making a decision to really be strategic…
Stopping self destructive behaviour
What happens when a business owner has self-destructive or business harming leadership behaviours? What happens when family members don’t get on well in business? What do we do? How do they change? It makes me think of my favourite skit of all time (watch here),…
Delegation vs. Empowerment
Delegation is good but empowerment is better. Building a business is like one big project in delegation. In the beginning you wear all of the hats and as cash flow allows you methodically hire and train others to do things you no longer have time…
Most small-business owners aren’t planning ahead
The vast majority of businesses in Australia are small businesses and many of those are family owned operations or partnerships. Unlike large companies, small businesses and partnerships without solid succession plans often fail when the owner or a senior-level partner retires, becomes incapacitated or dies….
5 Ways to See If Your Business Integrity is Showing
As an entrepreneur, your personal integrity is critical for getting and keeping the support of investors and team members, and your company’s integrity is critical for getting and keeping customers and vendors. But in a practical sense, what does that really mean? Most definitions of…
Identifying your target market
Trying to satisfy a wide range of different needs is rarely effective. Splitting your customers into different groups of similar people will enable you to market your products or services specifically to the ones that will be most profitable to you. Identifying your target market…