Franchise business model – Are you ready to franchise?

Australia is per capita the most franchised nation in the world. Relative to our population size, we actually have three times more franchising outlets than the USA, the birthplace of McDonald’s, Budget Rent A Car and H&R Block¹. So, isn’t it time you made like Ray Kroc with your own brilliant business idea? After all, … Read more

How to Write a Powerful Mission Statement for a Business

Mission statements are now more likely to generate eye rolls than enthusiasm. Once every corporation began trumpeting their unimpeachable integrity, heartwarming values and unparalleled dedication to customers and suppliers, a backlash was likely inevitable. Nevertheless, when taken seriously, a mission statement can brilliantly clarify and broadcast the raison d’etre of an individual, organisation or business. … Read more

5 business ideas that really took off

When brainstorming business ideas, it can be very tempting to dismiss anything you come up with as unworkable or just plain ridiculous. At those times, it might be worth reminding yourself of some small ideas that grew into big businesses. 1. Aussie Home Loans In the late 1980s, a conveyancing solicitor turned entrepreneur called John … Read more

The support that makes start-ups successful

Don’t go it alone Mark Gustowski is the global development manager at Pyksis, a business that has helped over 1000 Australian start-ups commercialise their innovations. He says the characteristics that drive someone to launch a start-up are often the ones that can create trouble later on. “Entrepreneurs are typically spontaneous, independent, impatient risk-takers,” Gustowski says. … Read more

Six business mistakes to avoid

Every owner is familiar with the failure rates of small business, and according to Australian Bureau of Statistics figures1 nearly a quarter don’t even survive long enough to celebrate their first birthday. If you want your enterprise to avoid ending up as just another statistic, be sure to avoid these six common small business mistakes. … Read more

What to ditch during the business pitch

You’ve finally scored a meeting with the potential investor who has the power to make your cherished business dream a reality. What should – and shouldn’t – your business pitch include? Don’t say, “There isn’t any competition in this space.” Even in the unlikely event that it’s true, any investor worth his or her salt … Read more

Four ways to turn around your cash flow

Only the most fortunate of businesses are free of cash flow problems altogether. Well-run ones avoid ending up in situations where they don’t have the money to meet their own costs because they are not being paid by customers in a timely manner. Here are four strategies you can implement to minimise the chances of … Read more

Working on your small business, not in it

If small business owners had a dollar for every time they heard “You need to work on your business, not in it” they could probably take early retirement and never have to worry about working on, in or for a business ever again. Clichés are clichés for a reason. There is much wisdom in the … Read more

Five things that instantly sway customer buying decisions

When it comes to buying decisions, there’s been no shortage of research done into the motivations that can drive them. But the results vary depending on who is surveyed, how they are surveyed and what product or service they are purchasing. Consumers are inclined to assert they make buying decisions after a sober and rational … Read more

How to turn an idea into a game changer

Despite all the lip service paid to innovation by corporate leaders and the worship showered upon ‘ideas men’ such as Richard Branson, Mark Zuckerberg and Jeff Bezos, the harsh reality is that most people and organisations simply aren’t innovative. That’s the bad news. The good news is that you don’t need to be freakishly gifted … Read more

How to Get Government Contracts – 5 Useful Tips

Tendering for government contracts is much like tendering for ones from private companies… except when it isn’t. Here are five tips for getting government work. 1. Government organisations operate independently, mostly Speaking of the ‘government market’ makes about as much sense as referring to the ‘private enterprise’ market. Just as the latter is made up … Read more

Insights from Australia’s most innovative companies

If anyone still needed convincing of the centrality of innovation to success in the modern business world, Apple becoming the world’s most valuable company ever in mid-2012 should have settled the matter. Unlike Apple, the companies on BRW’s recently released list of the 30 most innovative Australian companies of 2012 are either little known or … Read more