IBIS World recently published a May 2020 report outlining the effect of the COVID-19 pandemic on business industries. We, living in the new 21st century have already seen huge disruption to how we work and live. Unfortunately, the arrival of COVID-19 is forcing even faster change to the business environment. Every business is affected. Here […]
Three Major Small Business Challenges
Whilst this graphic illustrates the 2015 three major small business challenges for business owners they are pretty much timeless and universal: How to increase turnover (revenue / sales) How to increase business profit Hiring the best people I go through a number of solutions below… Increasing sales revenue Ideally business owner want more profit but […]
Simultaneous Marketing Delivers Rapid Business Results
In Australia over 92% of businesses have an annual revenue (turnover) of less than 1 million dollars (source ASIC). This appears to be an amazing high number, but when you consider how many small businesses and shops there are in your local suburb it does make some sense. I often wonder why business owners settle […]
The Real ‘Secret’ To Business Success
I like the weekends and especially Sunday mornings for ‘reflecting’ on the past week’s events. It’s funny… most people are probably enjoying a sleep in, ready for a day watching the football, or visiting family and friends. I prefer the Sunday morning ‘quiet’ and tranquillity – to sit and think. Lately I’ve been catching up […]
Crucial Business Strategy Gets Ignored By Most
Here’s an article by David Dee that I came across recently. This article from Dee really ‘nails’ the importance of good marketing to grow a business and it’s revenue. I’ve lost count the number of times I’ve seen business owners ‘mess’ this up and focus on the ‘wrong’ thing. In Australia 94% of businesses never […]
Benchmark Your Business Here…
Want to know how well you are doing compared to other businesses in your industry? The good news is you can do that for free. The Australian government has a list of industries and their relative performance and costs based on annual sales revenue (turnover). ATO government business benchmarks: www.ato.gov.au/businessbenchmarks Maus also has good business […]
Business Marketing Sin #1
If you’ve been in business for a while – you know it costs money to get customers, whether it’s providing excellent customer service to get referrals, or advertising, or paying for a good retail location, or spending money on business-to-business marketing (B2B). One sin that every business owner makes, including myself, is not following up […]
This Business Tip Cost Me $500…
A year ago I paid $500 for a short meeting with a local multi-millionaire. I’d like to share with you the best advice I received: "Acknowledge your Weaknesses but focus on your Strengths." How does that translate to you and your business? Say for example you are great at sales but dislike at paperwork. Focus […]
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