The great remote shift: what happens next?
As majority of Australia returns to ‘the new normal’ we look at what impact the ‘great remote shift’ has had – and will have – on Australian businesses. COVID-19 has undoubtedly changed the business landscape in Australian and globally. Whilst shifts in economic factors such as employment security, consumer sentiment and business investments continue […]
Implementing Benchmark Analysis Improvements to your Client’s Business
Sometimes you’ll need to set a few progressive targets, to get a client from a ‘poor’ position, to a ‘best practice’ standard. Here is an example. Suppose you have a client who is a real ‘basket case’ of a business: too much stock; debtors don’t pay on time; the company doesn’t charge enough for their […]
Why Advisors Should Benchmark Their Clients Against Competitors
As a business owner, competition can be intimidating. However, it can also drive to achieve impressive results. The important factor is knowing how to beat the competition. With this sentiment in mind, for business owners and advisors, gathering intelligence on a business’s competitors in a systematic and rigorous format is critical to success. What are [...]
‘Businesses within a business’ – Applying different ‘models’ to the same business
Many businesses are ‘mixes’ of basic revenue models – and in particular, are a mix of ‘retail’ and ‘labour-based’ models. So to analyse it effectively, you might need to think differently about each part of the business, using a different ‘model’ in the process. Here are a few examples to prove the point: [...]
How Do I ‘Benchmark’ a Business? Three Mindsets for Advisors
At different stages during the process of Benchmarking a firm, your mindset needs to change. Here are the key stages that you’ll need work through as you help a client to devise concrete plans for a better, stronger business: 1. At first, your role is essentially a clerical one: converting the financial data about the [...]