Why a Budget is Not your Strategy
The Importance of a Holistic Approach The Budget-Business Strategy Misconception Many business owners mistakenly think that a budget and a business strategy are the same thing. However, a budget is just a piece of the puzzle in your overall financial plan. It’s not your ultimate guide to achieving business success. While a budget can show […]
Decoding the Art of Business Valuation
The Million-Dollar Question: What’s My Business Worth? As a management consultant, one question I frequently encounter is: “How much is my business worth?” The answer is not as simple as punching numbers into a calculator. While there are several methods like financial multiples or discounted cash flows, relying solely on spreadsheets can lead to misleading […]
Activity is Not Achievement
I recently finished reading the book ‘Power of Human’ by Adam Waytz, a psychologist and author from Kellogg School of Management at Northwestern University, detailing how ‘Busyness’ has become a key metric for success within society. Those in our world we perceive as ‘Busy’ are clearly ‘important’ and surely provide immense value. As opposed to […]
Metrics That Matter
Lead indicators: not as boring as they sound, and they’ll make your startup more profitable than Google. Trust me. Starting and running your own business can be a detailed and challenging, especially if you don’t come from a business background. One of the most important areas to understand is the world of metrics. But don’t […]
Harnessing the Power of Three-Way Forecasting for Startups
The journey of a startup is rife with excitement, uncertainty, and countless challenges. To navigate this journey successfully, a startup must build a strong foundation rooted in financial management. A key aspect of this foundation is a three-way forecast – a holistic view of Profit & Loss (P&L), Cash Flow, and Balance Sheet. This financial […]
Debt Management: The Crucial Pillar for Sustainability
Do you often find yourself thinking about your business debt? The way the economy is currently trending, it’s likely that it’s on your mind more frequently than before. Australia has been fortunate to experience uninterrupted economic growth for almost three decades. This growth has been powered by decreasing interest rates through this time, allowing businesses […]
The 5 Stages of Leadership: Where Do You Stand?
Recently, while navigating a strategic forecast with a client, the significance of the ‘5 Levels of Leadership’ came to the forefront. These five stages became crucial during our change management process, preparing their business for scalable growth. The renowned leadership guru, John C. Maxwell, formulated these 5 levels in the early 2000s. His work on […]
The Journey from Data Disarray to Business Triumph
Are you making full use of your business data? When advising business owners on how to understand their metrics, my first question always is – where does this metric sit in your POS/CRM/sales system? Sadly, I often receive responses such as ‘we use spreadsheets to clean the data’ or ‘the data in my system contains […]
Mastering Team Management
Managing a team is not just about hitting project milestones or reaching revenue targets. It’s about creating an environment where everyone thrives. If you’ve been finding it challenging to manage your staff effectively, then you’re in the right place. In this guide, we’ll explore how to build a dream team, incorporating Maslow’s Hierarchy of Needs, […]
