Ideas to Action – How Entrepreneurs Navigate Uncertainty

Quitting your day job and leaping into being an entrepreneur is often a scary task.  Have you ever wondered how some people seem to make the leap with few headaches (at least that’s how it appears to you) whilst others have great ideas but repeatedly fail to take any steps from idea to execution? 

Do You Have a Business Roadmap to Success?

As the New Financial Year approaches now is the perfect time to put some time aside to work on your next year of business.

We love working with business owners and helping them achieve their business dreams, however we’re also business owners and believe that it’s so important to ‘walk the talk’. 

We’re going to be taking a few hours now to invest in our business and will discuss the following items.

Don’t be the smartest person in the room

As the saying goes ‘If you’re the smartest person in the room, you’re in the wrong room”.  So with this in mind we’ve been out-n-about the last month at various business events, learning from others.    

So what have we gleaned from others this past month?

Monkey Business: Organisational Culture Lessons

Continuing with our theme of Organisational Culture I thought it a relevant to introduce some of the psychological experiments undertaken that clarify how individual behaviour can be influenced.

Living on Purpose

In business, if we are not doing it ‘on purpose’ in line with our goals and values then we are likely to go around in circles. We won’t necessarily fail, but we won’t make significant progress.

Do you need an Insider or an Outsider?

When it comes to succession planning we often look outside the business for the next CEO rather than internally.  In a recent HBR article Joseph Bower explores the trends in S&P 500 companies, finding that 80% promoted insiders in the past 12 months.  So, which strategy is more successful and why?

How Can You Delegate Effectively?

Branson has a great gift of training staff and managers and then giving them the authority to do their job without him constantly interfering.

Being able to delegate is crucial in business. There is no way you can grow a business trying to do everything yourself. However, it’s easier said than done.

Fostering The Entrepreneurial Spirit

If we don’t actively encourage true problem solving and endless opportunities to try and fail until they succeed so they learn how each feels and to get up and try again our children will have a hard time as adults in the future job market.

Investment Property Deductions

You’re looking to buy an investment property and wondering how it will affect your tax situation?

Firstly, it’s important to note the difference between a residential or commercial property. If you purchase a residential investment property, there is no GST applicable. This also means you cannot claim any GST, however a commercial property will require you to charge GST and lodge BAS on a Quarterly basis. There will also likely be GST on the purchase and sale which you need to consider.

Unlock your Innovation Barriers by Implementing these 2 Techniques

We often are faced with problems to solve in business but struggle to generate multiple solutions.  Often, we miss the solutions that are in plain sight as we can’t get past the traditional uses of products or ways of doing things – this is termed “functional fixedness”