How To Get Your Business Mojo Back

Tired and frustrated, sick of answering the phone (it’s only bad news), your customer base is weakening and the lingering effects of the GFC (I mean how much longer can we put up with this?) are leaving you disheartened?

And it gets worse. The bank is looking for a meeting to “see where you’re at” (how many more meetings do they need?) and the tax repayment plan you initiated only three months ago looks like it’s not going to be met this month.

Running your own business can seem like a great idea (and it was fun) but it’s becoming very difficult and it’s not much fun now.

There seems to be simply not enough demand around for your products and everyone else’s for that matter.

So how are you going to manage over the next 12 months? Because it IS going to be tough for at least another year.

Tips for surviving tough times in the construction industry

The skills required to survive in business vary widely when there is noticeable change in the business cycle, up or down.

The Queensland construction industry has certainly had its up and down moments over the past decade.

After a number of years of positive growth in the leadup to the GFC, many business owners within the state’s construction industry felt they had cause to be optimistic, committing forward expenditure on equipment, assets or land stock and funding these commitments through various forms of debt.

However, the GFC negatively impacted on many businesses, who found themselves overcommitted with debt or cash outlays due to a sharp reduction in income.

The industry experienced considerable turmoil and restructuring post-GFC and further difficulties after the natural disasters of January 2011.

Many companies had to react with major debt reduction exercises, sale of assets or staff lay-offs to improve cash flow and survive.

The consequence for those who were unable to adjust is that the Queensland construction industry…

What a Slowdown in China Means for Australian Business

We have all become accustomed and comfortable with China’s rapid growth and development and it was China’s appetite for commodities that helped Australia escape the worst of the GFC.

Post GFC, we have to ask ourselves: how long can China fuel the Australian economy and how big will the impact of China’s slowdown be on our mining industry (the only industry that is keeping our macro-economic figures looking reasonable)?

What Drives Business Reinvention?

Innovation and invention are hot topics amongst business and political leaders alike.

Innovation impacts on not only businesses growth and planning but also the country and society we live in – from the air we breathe (clean energy) to what we eat and how we communicate and travel.

When working with underperforming businesses, the subject of innovation and invention is often at the bottom of their list.

Yet if embraced, innovation can be used as a key to their success – and it doesn’t have to mean great cash outflow.

Business Recovery: How To Optimise The Rebuilding Process

After disaster strikes, it’s difficult to comprehend that some businesses might actually emerge from the rebuilding process stronger than ever. Here’s how…