The keys to successful strategic planning for small business

“If you don’t know where you’re going, any road will get you there” In my view there are two major problems facing small business when it comes to strategic planning. The first is not knowing where they’re going. This means not taking the time out from “doing it, doing it, doing it” to strategically look […]

Funding options available for innovative businesses

The Federal Government has indicated that they are very keen to support innovative businesses. There are a number of funding options available by way of government grants for businesses that can meet the Government qualification requirements. If your company has been “experimenting” to try and solve a problem in your business for which there was […]

Know your change potential

In a recent article, Planning to Take Control of the Family Business, I talked about the reluctance of family and privately owned business to plan. I opined that “time pressures” and “not knowing where to start” were two of the main reasons for this reluctance. However, I believe there is another, very important, reason for […]

Key lessons for business owners from the Dick Smith saga

The recent collapse of the Dick Smith chain highlights the fact that no business is immune from potential catastrophe. But it begs the obvious question – how can a company as big as this and turning over $1.3 billion – a listed company – fail? No doubt we’ll hear more in the months ahead as […]

Heed the warning signs for your business

It seems like every second day I read about another business going into liquidation. This past year has seen a number in the transport and logistics industry, the most recent being Gregorys Transport. This begs the question – why? Businesses in this industry operate on small margins and invariably have a lot of money tied […]

My top 4 tips to future proof your business

I often read about businesses that don’t last the distance – businesses that look like they have great potential but just somehow can’t be sustained. I can’t help but think that many of these organisations mustn’t give any thought to “future proofing” their business. So what is “future proofing” and why can it help businesses […]

How do you monitor and review your strategic growth plan?

Every business owner should have a specific strategy in order to push the business to greater success. The plan itself must be a living document that can be easily massaged and adapted as time passes. External factors such as fluctuating economic conditions and consumer trends mean that this plan has to be agile but the […]

How to develop a meaningful vision statement

How often do you walk into a business and see a vision or mission statement on the wall? Usually, the statement comprises anywhere from a few words to a few paragraphs. In my view, the longer the vision statement the less meaningful it becomes. After all, what is the purpose of a vision statement? Two […]