There is one thing that entrepreneurs want, and that is to be better. They are constantly striving for bigger and better. Never satisfied, they are always looking to achieve great things. But the one thing that will bring about the greatest shift for an entrepreneur is within. Working and investing on themselves is the best investment an Entrepreneur can make.
Expanding internationally is exciting and rewarding, but the hard reality is that every country in which you operate is different. Along the way, we’ve learned valuable lessons about conducting business across borders.
There are a few things you should consider before you start taking your Australian business globally.
Entrepreneurs are more likely to plan for the future than evaluate the past. But how can you fix something when you don't know it's broken? How will you celebrate achievements when you don't realise how significant they are to the big picture? If you do not conduct a review mid way through the year, it's likely you'll begin January with the same troubled systems, processes, and problems.
You have just started in a new business and you want to make your mark, stand out from the crowd and make a good first impression in your industry and with clients. Here are 5 things you can do straight away to set yourself apart:
Whether you need motivation to transform your idea into a functioning business or you just need a little boost when you’re down, it’s always good to seek wisdom from bright and successful minds who have experienced it all before.
Recently, I heard one successful entrepreneur say “If you don’t want to work ON YOUR startup for at least 10 years, don’t startup at all”. This was meaningful to me because, as a business owner myself with more than 25 years experience in entrepreneurship I can easily relate with that sentiment.
Dashboard reporting is designed to make life easier. They are a one page snapshot of the real time results of a business and how it is performing against key measures. It is a clear and concise, visually appealing representation of key business drivers and risks. Sounds great right? Well there are a few limitations and issues with dashboard reporting. Here are the key issues you need to be conscious of when viewing your report. The challenges of dashboard reporting
A good accountant is vital to your business operations. Not only for planning accounting and tax, but for advice on almost all aspects of your operations. Therefore ensuring that you have a good relationship with your accountant is critical.
So how can you increase your chance of getting what you need from your accountant to grow your business?
Connecting users with critical information and data at a glance is the purpose of a business dashboard. Tom Peters wrote a book called ‘What gets measured gets done’, and the premise of this book is that when you are in search of excellence the areas that you want to achieve results needs to be measured. This focus will help you achieve results that you are measuring.
We all know start up businesses need to operate in a lean environment. Cashflow is often tight and there are months when there are more outgoings than incomings. As a result most business owners take on as many ‘roles’ as they can in the beginning, for two reasons. Firstly, they simply can’t afford to hire other people and secondly because when business is first starting it is often pretty simple so the business owner is able to do many of the roles within the business.
Australia may be small in population in comparison to other nations but we are innovative and creative and are real players in the technology space. So it is very exciting that the Australian Government and Innovation and Science Australia have recently launched Australia 2030 Plan: Prosperity through Innovation. This is a plan for Australia to thrive in the global innovation race.
Running a small business can often feel like a mouse on a wheel. Lots of activity, lots of money in and then lots of money out. So, how do you know if your business is actually profitable?
Here we take a look at how to give your business a bit of a financial health check and determine just how profitable your business is. There are several indicators which you need to review.