All posts tagged small business

Does Your Business Make Money In Spite of Itself?

The more I talk to business owners, the more I realise that many of them don’t actually know how they make their money! Let me rephrase that… they don’t really know how their customers/ clients have found them and why they keep coming back. Do you find that bizarre? Initially, my answer would also be yes. But I’ve come to realise that doing so is a work-ON-business exercise. Not one that is done on a day-to-day basis. Of course, if you don’t give yourself work-ON-business time, how are you ever going to discover what your market is telling you? Time…

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You SELL Your Business, Now What?

I came across this article recently, making the very valid point that: “Selling your business is a landmark event, often accompanied by emotions ranging from sheer joy to deep regret.  Proper planning can help ensure this is a time to be celebrated—years of hard work have paid off!—by alleviating the stress and anxiety related to your exit.” And then it went on to discuss the virtues of this, but from a purely financial position only. There is so much more to selling a business than just the financials! The very reason you’re selling it would indicate that. If it is…

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The Promise of Entrepreneurship… is bigger always better?

We are made to believe that when it comes to business success, bigger is always better. In our super-sized, consumption-oriented culture, not even small business is exempt from the pressure to grow for growth’s sake. We fixate on top-line revenue growth and increasing numbers of employees and locations. We pepper entrepreneurs with questions such as, ‘What are your plans for expansion? What’s next? How many cities will you go to?’ instead of asking what their goals are or why they started their business in the first place. When talk about growth we focus on speed, not sustainability. When we talk…

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3% of women-owned businesses make $1million or more a year; so why are you in your Mother of a Business?

As featured on the Ruby Connection… A little while ago, I came across this… according to recent statistics in the Wall Street Journal from the Center for Women’s Business Research in the U.S., there is only 3% of women-owned businesses with a revenue of $1million or more in The Million-Dollar Club… (and I bet that percentage is a whole lot smaller again if being the only breadwinner for the family is also taken into account). Only 3%, is that all I hear you say? Given that 7-figures is the turnover my Mother of a Business was doing at time of…

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Ho Ho Ho! the beauty of being a solo Business Owner at Christmas…

Bit of fun… Being a one person ltd company: I can have a Christmas party for all employees (me); invite my wife or partner (but not both!) spend and get tax relief on it. there is no taxable benefit in kind as I stayed with the rules If I had tried to spend out any other way then I could easily be paying a marginal FBT. So I can take the partner out for a nice meal knowing that the tax man is effectively funding our meal (and they don’t need to know that either). I feel good, partner feels…

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Going out with a Boom Boom…PrimeTimers

The following recent article raises the question of Boomer spending, once they start spending post-workforce, and what that timeframe might look like. I’m sure it’s fairly typical of the held view in the market also. Only one thing missing is…. No mention of Boomer (or as I like to affectionately refer to them – PrimeTimers) Business Owners. What about those who are still toiling away in their own businesses, and are looking to EXIT over the same period. The Business Sale Tsunami is about to hit us allegedly. So what happens when the value they thought the business was worth…

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Change? It’s Only Just Begun!

You’re probably familiar with eBay and PayPal. They’re businesses that have transformed and challenged traditional retailing because they enable individuals to trade online, bypassing normal supply chains. We’re now on the edge of another wave of transformational change of how business and work are done. Robert Gottliebsen at Business Spectator recently interviewed Matt Barrie from which connects workers with businesses on a global basis. Businesses post jobs that workers bid for. Payment occurs online when jobs are finished. It’s mainly small business people doing work for small business people. But it brings the power of ‘big’ to the little businessperson’s…

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Employ Contractors? READ THIS…

and it won’t matter what size you are… Organisations engaging contractors should be on notice. With Unions pushing the Federal Government to limit the number of independent contractors, on the basis that contractors are disadvantaged and better placed in traditional employee/employer roles with full entitlements, many organisations may be forced to put contractors on the payroll. Putting contractors on the payroll means organisations have to foot the bill for all employment costs such as PAYG, superannuation, annual leave, etc Contractors may lose better pay rates, tax advanatges and the flexibility in their work… read on “Contractor Double Jeopardy” by Brad…

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Female Owned Businesses Responsible for Job Creation in the U.S…

Similar story in Australia too I suspect, and here’s why… Tandelyn A. Weaver, owner of PersonalFreedomForWomen.com shares some interesting insights. Divorced or single mothers who undergo traumatic experiences in life have been an impetus for 30% of female business owners to embark on their entrepreneurial ventures. A report published by The Guardian Life Small Business Research Institute projects that female-owned small business, now just 16% of total U.S. employment, will be responsible for creating one-third of the 15.3 million new jobs anticipated by the Bureau of Labor Statistics by 2018 (Forbes.com January, 2010). Social factors have resulted in the growth…

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