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Most businesses are based, either consciously or subconsciously, on the Greek philosopher Plato’s statement indicating that necessity is the mother of invention. You identify a need and then invent a product or process to fill that need.

At SMART Business Solutions our people are our business so holding onto our employees for the long term is critical to the success of our business. Recruiting and onboarding new employees is a costly and time-consuming process for any business which is why you ideally want to hold onto great staff when you find them.

Being your own boss can be rewarding, but it’s also incredibly challenging. That’s why it’s important to future-proof your hard work by taking steps today that will prepare your business for tomorrow

These are the 10 hats – aka departments – in EVERY business. These are as follows along with a brief description of the accompanying role:

This article follows on from last week’s blog which dealt with Key Performance Indicators – why they are vital and how to implement them, to in a sense, take the pulse of your organisation and so determine where adjustments must be made, and wins leveraged to ensure lasting results.

What gets measured gets managed. What does this quote mean to you? Have you ever worked tirelessly on a campaign without realising the desired result? And when it’s over, you’re still unsure regarding its impact on your profit margin? Or whether it was it worth your investment in terms of the time-frustration-stress input?

In the face of increasing competition, it can be tempting to think that the only way to maintain your organisation’s market share and win new customers is by lowering your prices.  However, such a strategy is rarely effective in the long-term. Instead, it can end up undermining your business, so it’s wise to use it cautiously.

Contributing shares to your SMSF

What you need to know

Many investors have a personal share portfolio. When it comes to your SMSF, did you know that you can contribute more than simply cash? You are also able to contribute listed shares.

There is plenty of advice out there about why you should save for your future, but little that explains exactly how.

One of the problems when discussing wealth creation and retirement planning is that it usually involves words rather than numbers. People say they want to ‘build a retirement nest egg’ or ‘make sure I have enough to live comfortably’ or ‘pay for my kids to go through private school’, but rarely are accurate numbers attached to those wishes.

There has been a lot in the news lately regarding self-managed super funds (SMSF’s) from the Royal Commission into financial planning, and the banks tightening up on lending to SMSF’s some may wonder if it is all still worth it or a viable option. Yes absolutely! However, some of these changes are there to protect members of super funds because a SMSF may not be the most appropriate for everyone.

They say every great journey begins with a single step — and yours is just beginning. Here’s how to get on the path to financial freedom at the same time.