Business Essentials Daily
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Rarely do we know when crisis will strike – a pandemic, war, or a GFC-like event – but if it does happen, the impact on your business and staff could be just as seismic. So how can you prepare for a potential disaster? It helps to have an adaptive mindset, insists Prof Martin Bean, CEO of The Bean Centre, and former Vice Chancellor of RMIT University, during the lockdown days of COVID-19. He has co-authored a book, ‘Toolkit for Turbulence: The mindset and methods that leaders need to turn adversity to advantage’. An adaptive mindset, he says, equips you and your team to deal with fast and unpredictable change, to navigate in uncertainty, to collaborate on complex entangled problems, and to embrace ambiguity and paradoxes. Business Essentials Daily is produced by: SOUNDCARTEL soundcartel.com.au https://soundcartel.com.au/ +61 3 9882 8333 See omnystudio.com/listener https://omnystudio.com/listener for privacy information.
To maintain long-term profitability, you need a strategy that can adapt to new trends and consumer demands. Companies that don’t change will fall behind, says consumer and marketing guru Barry Urquhart. Barry identifies three pillars of business success, and offers the example of a particular Australian hardware company, which is pivoting from hardware to homeware – a subtle, yet powerful realignment. Business Essentials Daily is produced by: SOUNDCARTEL soundcartel.com.au https://soundcartel.com.au/ +61 3 9882 8333 See omnystudio.com/listener https://omnystudio.com/listener for privacy information.
Many businesses are being held back because their owners either can't, or won't, identify what they are bad at. That's according to Dan Williams, Asia Pacific Business Coach for EOS Worldwide, a global network of business coaches. Dan says it is crucial for business owners to identify what they "suck" at. He says that by slowing down and taking stock of everything you do, it's possible to identify tasks that you either hate or are bad at. Only then can you work on solutions, which may include outsourcing. Business Essentials Daily is produced by: SOUNDCARTEL soundcartel.com.au https://soundcartel.com.au/ +61 3 9882 8333 See omnystudio.com/listener https://omnystudio.com/listener for privacy information.
Several years ago the corporate world was going crazy over the latest business fad of Blue Ocean Strategy. The book of the same name won a slew of awards and sold millions of copies worldwide. The concept was simple: try to capture "blue oceans" of unexplored new markets. Like many theories, it just doesn’t work in a practical sense. Entrepreneur Roy Osing unpicks the problem of Blue Ocean Strategy specifically, and why some in academia are too far removed from the practicalities of running a business. And so, he warns, be careful of who you listen to. Business Essentials Daily is produced by: SOUNDCARTEL soundcartel.com.au https://soundcartel.com.au/ +61 3 9882 8333 See omnystudio.com/listener https://omnystudio.com/listener for privacy information.
Workplace culture is fundamental to the success of your business. If your people aren’t happy, the productivity and profits of your business are greatly impacted. Corporate mental health advisor, Kerry Howard, addresses the issue in her book, ‘How to heal a workplace culture: tackle trauma, foster psychological safety and boost happiness at work’. She says it’s up to the business owner or leader to learn how to manage interpersonal connections among staff. Business Essentials Daily is produced by: SOUNDCARTEL soundcartel.com.au https://soundcartel.com.au/ +61 3 9882 8333 See omnystudio.com/listener https://omnystudio.com/listener for privacy information.
Workplace productivity has taken a dive in the last couple of years. In fact, it dropped 3.7% in 2022-23, according to Australia’s Productivity Commission. Productivity in the workplace involves effectively leveraging resources to deliver outcomes. So how do you do that? HR consultant Karen Gately says bosses should set clear expectations, fostering engagement, and focusing on intrinsic motivators. Business Essentials Daily is produced by: SOUNDCARTEL soundcartel.com.au https://soundcartel.com.au/ +61 3 9882 8333 See omnystudio.com/listener https://omnystudio.com/listener for privacy information.
Traditional sales skills may not be sufficient to overcome the challenges faced by sales teams today. A new approach is needed to end rising disengagement, stress and burnout, and equip sales leaders to lead their teams confidently to success. That’s according to Anna Glynn, who says leaders need to ensure that their teams have the mindset and toolset – not just the skillset – to succeed in sales. She calls these the off-field factors and they relate to the resources available that help achieve long-term sustainable performance. Business Essentials Daily is produced by: SOUNDCARTEL soundcartel.com.au https://soundcartel.com.au/ +61 3 9882 8333 See omnystudio.com/listener https://omnystudio.com/listener for privacy information.
Some of Australia’s best-known and largest companies are some of the worst exemplars of customer service. That’s according to Milton Collins, Principal of The Action Business Coach. He says one of the biggest mistakes is forgetting or ignoring what the customer wants. Milton discusses all this from his book, ‘Delight, Disrupt, Deliver: Grow your business using the power of small surprises’. Business Essentials Daily is produced by: SOUNDCARTEL soundcartel.com.au https://soundcartel.com.au/ +61 3 9882 8333 See omnystudio.com/listener https://omnystudio.com/listener for privacy information.
Business owners can be their own worst enemies if they have a fixed mindset. That’s the view of Tristan Wright, a business coach and founder of Evolve to Grow. He says the way we are brought up can give us a blinkered view of the world and our own abilities. Tristan also says self-belief, the development of good habits, thinking laterally and embracing challenges can all be ways to remove obstacles in the life of a small business owner. Business Essentials Daily is produced by: SOUNDCARTEL soundcartel.com.au https://soundcartel.com.au/ +61 3 9882 8333 See omnystudio.com/listener https://omnystudio.com/listener for privacy information.
Without doubt, there has been an increase of burnout across the board in recent years. That’s according to mindfulness and high-performance coach, Melo Calarco, who says much of it comes from a residual fatigue, or a hangover, from the pandemic. Melo’s book, ‘Beating Burnout Finding Balance’, offers tools to achieve mindfulness. And, he shares inspirational stories of his trekking adventures in remote corners of the world that have transformed how he himself deals with tricky situations. Business Essentials Daily is produced by: SOUNDCARTEL soundcartel.com.au https://soundcartel.com.au/ +61 3 9882 8333 See omnystudio.com/listener https://omnystudio.com/listener for privacy information.
What does it take to lead a leadership organisation? Well, former AFL player and two-time Hawthorn Grand Final winner, Dean Anderson explains why in 2022, he took the role of CEO at Leading Teams. Leading Teams is an organisation well known for its leadership and high performance models, that have had a huge impact on businesses across so many industries, including media, education, government, utlitlies and most publicised - on elite level sporting teams. Business Essentials Daily is produced by: SOUNDCARTEL soundcartel.com.au https://soundcartel.com.au/ +61 3 9882 8333 See omnystudio.com/listener https://omnystudio.com/listener for privacy information.
This is the 1,000th episode of Business Essentials Daily! So we stop, and discuss with Nick Schildberger, Managing Director of SoundCartel, why we started the podcast, how we navigated the pandemic, and reaffirm our focus on providing SMEs the information they need to grow their business, during the rollercoaster economy of the last four years. Nick also takes a look at podcasting as a medium and its impact on business over time. REFERENCES: __ __ __ __ __ __ __ __ __ __ Business Essentials Daily is produced by: SOUNDCARTEL soundcartel.com.au https://soundcartel.com.au/ +61 3 9882 8333 See omnystudio.com/listener https://omnystudio.com/listener for privacy information.
As a business owner, it behoves you to work on those activities that bring in a better return on investment. Don’t do the menial, repetitive stuff, when you could be delegating to someone else in your business, says productivity expert, Les Watson. As a leader, you should be working your business – bringing the dollars in – not the business. Les Watson shares his prioritisation system which ensures the important things aren’t ignored. Business Essentials Daily is produced by: SOUNDCARTEL soundcartel.com.au https://soundcartel.com.au/ +61 3 9882 8333 See omnystudio.com/listener https://omnystudio.com/listener for privacy information.
The key to effective sales and marketing is collaboration, according to sales expert and CEO of Barrett Consulting Group, Sue Barrett. Having a customer-centric mindset across the entire organisation will ensure everyone is on the same page. This can be achieved by nurturing the customer at each marketing touchpoint, e.g. emails, social media digital marketing, and direct communication with sales teams. While the emphasis on each function may vary depending on the product or service, the core idea remains that are interdependent. This synergy between sales and marketing is fundamental for achieving sustainable growth and success. Business Essentials Daily is produced by: SOUNDCARTEL soundcartel.com.au https://soundcartel.com.au/ +61 3 9882 8333 See omnystudio.com/listener https://omnystudio.com/listener for privacy information.
How detailed are your employment agreements? If, as lawyer Tracey Mylecharane has observed, it’s a simple one-pager outlining the role, it’s nowhere near good enough. You want to legally protect you and your business from a disgruntled employee by providing a comprehensive document, that defines not only the role and responsibilities, but also items like social media policy, confidentiality, intellectual property, leave and entitlements, termination, and more. Business Essentials Daily is produced by: SOUNDCARTEL soundcartel.com.au https://soundcartel.com.au/ +61 3 9882 8333 See omnystudio.com/listener https://omnystudio.com/listener for privacy information.
Business owners often struggle with setting the right price for their products or services due to self-doubt, observes business coach and trainer Jim Cocks. It’s important, he says, that business owners have the confidence in their offerings and be willing to increase prices to reflect their quality and value. Finding the right pricing balance requires consideration of competitors, affordability, and the current economic climate. Jim Cocks is author of ‘Build, Excite, Ignite: How to beat burnout and build a six-figure business in 12 months’. Business Essentials Daily is produced by: SOUNDCARTEL soundcartel.com.au https://soundcartel.com.au/ +61 3 9882 8333 See omnystudio.com/listener https://omnystudio.com/listener for privacy information.
One of the most effective marketing strategies is tapping into other people’s networks. But, Marketing Specialist and Founder of Leadsology, Tom Poland says, it requires finding partners whose audience aligns with your target market: offering something that people are already looking for is key. Tom explains how to identify and approach potential partners, and the importance of building an email list for successful marketing. Business Essentials Daily is produced by: SOUNDCARTEL soundcartel.com.au https://soundcartel.com.au/ +61 3 9882 8333 See omnystudio.com/listener https://omnystudio.com/listener for privacy information.
As a business owner, have you let the sales process fall by the wayside? If you’re like many others, perhaps what stops you from selling is fear. Well, according to sales guru Trent Leyshan, you need to regain your mojo. Afterall, he says, sales is the lifeblood of any company. Trent is founder of BOOM! Sales and author of two sales books, 'Outlaw' and 'The Naked Salesman'. He outlines the three key steps you need to take to go from fearful to fearless in sales. Business Essentials Daily is produced by: SOUNDCARTEL soundcartel.com.au https://soundcartel.com.au/ +61 3 9882 8333 See omnystudio.com/listener https://omnystudio.com/listener for privacy information.
Attitudes about diversity and inclusion in the workplace and marketplace have change dramatically over recent decades. Hamid Senni, a veteran Diversity and Inclusion Consultant, shares his two-decade journey witnessing the evolution of the market's approach to diversity. He discusses the paradigm shifts from initially addressing discrimination, to the current focus on belonging. And he emphasizes the importance of authenticity in fostering a truly inclusive workplace culture, delving into the layers of diversity, from customers, communities, and suppliers to market offerings. Business Essentials Daily is produced by: SOUNDCARTEL soundcartel.com.au https://soundcartel.com.au/ +61 3 9882 8333 See omnystudio.com/listener https://omnystudio.com/listener for privacy information.
While discussion around mental health is becoming far more open and less taboo, poor mental health costs the Australian economy around $17 billion per year. So, there’s an increasing need for businesses to provide a physically and physiologically safe environment. Liz Ralph is Learning Manager at Lysander, an award-winning consultancy firm that support businesses in leadership development and cultural transformation. She explains that workplaces can be audited for both beneficial and poor psychological conditions, and then guided to create a strong and psychologically safe workplaces, for staff to thrive. Business Essentials Daily is produced by: SOUNDCARTEL soundcartel.com.au https://soundcartel.com.au/ +61 3 9882 8333 See omnystudio.com/listener https://omnystudio.com/listener for privacy information.
A new law has been introduced to address the blurring boundaries between work and personal life. The ‘Right to Disconnect’ bill allows employees to refuse to monitor, read, or respond to contact from their employer outside of working hours, unless the refusal is unreasonable. Ryan Price, Head of Content & Training at Employsure, says business owners should prepare for the new rules by setting policies, consulting with staff, and considering compensation for after-hours availability. Business Essentials Daily is produced by: SOUNDCARTEL soundcartel.com.au https://soundcartel.com.au/ +61 3 9882 8333 See omnystudio.com/listener https://omnystudio.com/listener for privacy information.
ChatGPT is the best-known example of a large language model which is transforming the way in which we communicate. It’s now leading to other innovations, including ChatGPT-specific apps that anyone of us now can create to help our own businesses. Futurist Steve Sammartino explains some of the advances in artificial intelligence and how they will impact the way we work and live. Future AI trends, he says, include the development of personal digital twins and the emergence of copyright battles over biometric data. Business Essentials Daily is produced by: SOUNDCARTEL soundcartel.com.au https://soundcartel.com.au/ +61 3 9882 8333 See omnystudio.com/listener https://omnystudio.com/listener for privacy information.
Do you feel as if you have too much on your to-do list, both at work and at home? There are not enough hours in the day, and you’re constantly thinking about the next thing. Mindfulness is becoming a well-known ability to navigating all that chaos. Customer service expert, Jaquie Scammell achieves mindfulness through meditation, which helps her with calmness, clarity and happiness. She explains how busy people can meditate and why achieving mindfulness is good for business. Business Essentials Daily is produced by: SOUNDCARTEL soundcartel.com.au https://soundcartel.com.au/ +61 3 9882 8333 See omnystudio.com/listener https://omnystudio.com/listener for privacy information.
What is the economic outlook for 2024 and how will depleted household savings influence the situation? Monash University Economics and Business Statistics Professor Robert Brooks, explains the reasons behind a more cautious approach to consumer spending, which may impact many small businesses. Professor Brooks highlights the government's policy choices, including infrastructure investments and addressing energy pricing to further manage inflationary pressures. He emphasizes the importance of policy certainty for households and businesses and forecasts a narrow path to inflation reduction while staying vigilant for any unexpected shocks. Business Essentials Daily is produced by: SOUNDCARTEL soundcartel.com.au https://soundcartel.com.au/ +61 3 9882 8333 See omnystudio.com/listener https://omnystudio.com/listener for privacy information.
If you ask questions and listen to the answers, you will learn what your customers want. Selling becomes easier and you don’t have to talk so much, says sales expert Colin Pearce. Colin has been training salespeople for many years and has a bag full of tips on how to sell more, easier and faster. Talking too much is a bane for many salespeople, and it's their "overselling" which often puts people off. Business Essentials Daily is produced by: SOUNDCARTEL soundcartel.com.au https://soundcartel.com.au/ +61 3 9882 8333 See omnystudio.com/listener https://omnystudio.com/listener for privacy information.
Whether interest rates start to drop or not, the share market’s relatively robust at the moment. That’s according to investment expert Elio D’Amato, Team Member at Stockopedia Aus & NZ. Property and housing will be strong, he says, so long as the Australian economy performs as expected in the long-term. Elio says the share market is somewhat two-speed because of what he calls “price makers” and “price takers”. Elio finishes with his specific “stocks to watch”. Business Essentials Daily is produced by: SOUNDCARTEL soundcartel.com.au https://soundcartel.com.au/ +61 3 9882 8333 See omnystudio.com/listener https://omnystudio.com/listener for privacy information.
Ros Handley wants to change the conversation around retirement to renewal. Our mindset, and the way we think about this phase of our lives is really important. If we have potentially 20 years or more ahead of us, why wouldn’t we see it as an opportunity to start something new? And, it’s never too early, she says, to think about and plan for retirement. Business Essentials Daily is produced by: SOUNDCARTEL soundcartel.com.au https://soundcartel.com.au/ +61 3 9882 8333 See omnystudio.com/listener https://omnystudio.com/listener for privacy information.
This year’s Australia Day holiday fell on a Thursday. Some employees around the country saw that as an opportunity to take a sickie, and have an extra-long weekend. But, other’s were genuinely ill. As a boss, how do you know if someone’s being legitimate? Karen Gately, CEO of Corporate Dojo, says it’s important to have open and honest conversations, in person. Employers should have policies in place and everyone should understand their obligations under the law. Business Essentials Daily is produced by: SOUNDCARTEL soundcartel.com.au https://soundcartel.com.au/ +61 3 9882 8333 See omnystudio.com/listener https://omnystudio.com/listener for privacy information.
Is your workforce as diverse as the customers they serve? It’s an important question to ask. As a Diversity & Inclusion and Culture Transformation Consultant, Hamid Senni explains how diversifying your workforce can lead to new efficiencies and a better customer experience. Hamid emphasizes that diversity goes beyond race and gender, encompassing various characteristics such as age, abilities, and experiences. He highlights the benefits of a diverse workforce, from understanding customer needs to fostering innovation and adaptability. Business Essentials Daily is produced by: SOUNDCARTEL soundcartel.com.au https://soundcartel.com.au/ +61 3 9882 8333 See omnystudio.com/listener https://omnystudio.com/listener for privacy information.
Failure isn't something we should avoid at all costs – on the contrary, failure is a powerful force on the journey to success. Entrepreneur and key-note speaker, Gabe Zichermann, says if you don't feel the fear of failure, then you're not pushing yourself hard enough. In other words, fear often indicates you're on the right track. Business Essentials Daily is produced by: SOUNDCARTEL soundcartel.com.au https://soundcartel.com.au/ +61 3 9882 8333 See omnystudio.com/listener https://omnystudio.com/listener for privacy information.
