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DownloadReviewing your business strategy is easier with our checklist
Annual Review
Questions that would be appropriate to consider in an annual review include:
- Do you consult your advisors in relation to the review of your business on an annual basis?
- Do you hold 'retreat planning sessions' to plan where your business is going?
- Can you answer basic questions about your business direction and how you're going to get there?
Business Success Strategies
Have you thought about implementing business success strategies to your business?
- This could include allocating one hour per day for 'quality time' to think about and plan strategies for your business.
- Ask ongoing questions about everything that happens in your business - why and how things work and don't work.
- Have a continual engagement with your customers. Don't get remote from your customers; keep in contact with them. Customers of SME businesses like to talk to the owner or key management people within the business.
- Aim for top deck corporate communications, inside and out.
- Understand your business' numbers - if you don't, call us immediately on 02 6686 3000 to steer you on the right course.
Could self-managed super be a better investment option?
This week the Australian press reported, "More than six million Australians would have been better off stuffing cash under a mattress than putting it in their employers' default superannuation option over the last five financial years."
Even more alarming is the statistic that most Australians make no active choice when it comes to super; the majority (60 per cent) have their super paid automatically into the default investment option of their employers chosen superannuation fund.
Thanks to the battering of the global financial crisis, every dollar invested in a typical default fund went backwards, after fees and taxes, by 0.3 per cent a year on average over the past five financial years, according to data from SelectingSuper.
Of the 83 default super options available over the five years, 51 delivered negative annual returns for members (6,066,129 member accounts) and 32 delivered positive returns (10,179,634 member accounts) therefore showing that choice of super fund is crucial. Read more…
This week the Australian press reported, "More than six million Australians would have been better off stuffing cash under a mattress than putting it in their employers' default superannuation option over the last five financial years." Even more alarming is the statistic that most Australians make no active choice when it comes to super; the majority (60 per cent) have their super paid automatically into the default investment option of their employers chosen superannuation fund.
Thanks to the battering of the global financial crisis, every dollar invested in a typical default fund went backwards, after fees and taxes, by 0.3 per cent a year on average over the past five financial years, according to data from SelectingSuper.
Of the 83 default super options available over the five years, 51 delivered negative annual returns for members (6,066,129 member accounts) and 32 delivered positive returns (10,179,634 member accounts) therefore showing that choice of super fund is crucial. Read more…
More ways to stay up to date with Collins Hume
The internet is undoubtedly the biggest and best information resource available. Irrespective of where you are and what you do, you can use your PC or any device to get the latest news from Collins Hume. We have some excellent tools which help you to effectively organise the information flow and help you stay informed and up to date: Read more…
Ballina Surf Shop riding the crest of a new wave
As the owners of one of Ballina's long established and most iconic surf shops, Richard and Wendy Beckers wanted to build on their strong reputation to take advantage of emerging technology and more
Initially prompted by a change in business name, Richard and Wendy could see the possibilities of myriad things they could do. The key was to allocating resource and prioritising their time to get through everything they wanted to achieve.
Collins Hume Partner and avid surfer Peter Fowler has a thorough understanding of Ballina Surf both as their adviser and as a customer, so could see the potential from both sides. One step was to consider how to make the leap from marketing as a bricks and mortar enterprise to embracing the extra leverage available from social media.
Ultimately, the idea was that an enhanced approach to market would strengthen the brand when the business was ready to launch a second shop. Read more…
As the owners of one of Ballina's long established and most iconic surf shops, Richard and Wendy Beckers wanted to build on their strong reputation to take advantage of emerging technology and more
Initially prompted by a change in business name, Richard and Wendy could see the possibilities of myriad things they could do. The key was to allocating resource and prioritising their time to get through everything they wanted to achieve. Collins Hume Partner and avid surfer Peter Fowler has a thorough understanding of Ballina Surf both as their adviser and as a customer, so could see the potential from both sides. One step was to consider how to make the leap from marketing as a bricks and mortar enterprise to embracing the extra leverage available from social media.
Ultimately, the idea was that an enhanced approach to market would strengthen the brand when the business was ready to launch a second shop. Read more…
How to manage the creation of value in your business
Succeeding in business doesn't happen unless you manage it, and performance measurement doesn't happen on its own.
You have to manage the creation of value in your business. If you aren't adding value for your customers, but simply following the crowd in what you are offering, then you may be settling for mediocre results.
The best businesses have a great product or service, can easily sell that product or service, know what their customers want, their employees are happy and their shareholders are happy. Business activities continue day after day.
Yet no one is immune from business failure – no matter how successful they are today. Read more…