Business Essentials

Millennials are a generation, with a fluctuating reputation that needs to be catered for in the workplace. So how do you attract them? Michael Black, Founder and CEO of fast growing franchise, Success Tutoring, is also a Millennial himself. He explains the challenges of engaging this dynamic generation, including their impulsivity, shifting goals, and need for trust. And he offers achievable tips to foster loyalty, align team members’ ambitions with company objectives, and create a workplace where employees feel valued and have purpose.

Business Essentials Daily is produced by:

SoundCartel
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+61 3 9882 8333

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In the not-too-distant past, kids wanted to be firefighters, doctors or a police officers. Today, many want to be influencers. And why not, when they can earn thousands, even millions of dollars from businesses paying them to promote their products or services. The content has to be engaging of course and is often produced as videos across social media platforms. Perhaps this is a strategy that makes sense for your own business, but Heather Maloney, Founder and CEO of Contactpoint says you need to be careful of a few things – including the potential for controversy – but it could help boost your profile very quickly.

Business Essentials Daily is produced by:

SoundCartel
soundcartel.com.au
+61 3 9882 8333

See omnystudio.com/listener for privacy information.

No matter the size of your business, a toxic workplace culture puts it at great risk. Colin D Ellis, a workplace culture specialist and author of the book 'Detox Your Culture', says toxic environments impact productivity, employee health, and public perception. He offers practical strategies for identifying and addressing toxic behaviours, fostering accountability, and creating a shared culture that supports both team cohesion and business success.

Business Essentials Daily is produced by:

SoundCartel
soundcartel.com.au
+61 3 9882 8333

See omnystudio.com/listener for privacy information.

Inflation, supply chains, staff retention, a possible global downturn. There are so many issues facing businesses now, and they all end in one place: a cash flow spiral. The Commonwealth Bank’s General Manager of Working Capital, Elizabeth Huxley, says cash flow has become the chief concern for business across the country in recent times. But she’s offering some help, with a new system that grants businesses short-term loans using unpaid invoices as security.

Business Essentials Daily is produced by:

SoundCartel
soundcartel.com.au
+61 3 9882 8333

See omnystudio.com/listener for privacy information.

Many employees fear the possibility of artificial intelligence taking their jobs, so how can a small business integrate AI and allay those concerns? Aaron McEwan, VP, Research and Advisory for Gartner, outlines the challenges and opportunities AI brings to the workplace, from fears of job losses to concerns about ethical use and data privacy. He says transparency, ethical practices, and clear communication can help build trust and maximize the benefits of AI, while minimizing resistance to a technology that can create new growth.

Business Essentials Daily is produced by:

SoundCartel
soundcartel.com.au
+61 3 9882 8333

See omnystudio.com/listener for privacy information.

Business debt to the Australian Taxation Office's (ATO) has more than doubled over the past five years, with Australian SMEs owing an average of $21,000 each. And with the recent focus on small business tax debts, The CEO and Founder of Grow Capital, Gus Gilkeson, is offering some essential advice on navigating ATO notices, creating cash flow forecasts, and the importance of open communications. Gus discusses the risks of ignoring ATO demands and offers practical steps to keep tax obligations manageable.

Business Essentials Daily is produced by:

SoundCartel
soundcartel.com.au
+61 3 9882 8333

See omnystudio.com/listener for privacy information.

Cinzia Cozzolino started her smoothie business almost by accident. After she started preparing delicious nutritional smoothies for her daughter, word got out. Her daughter’s friends and their mums wanted them. The local cafes and retail outlets wanted to sell them. Next thing, Cinzia found she had a very successful business selling to hundreds of stores in the Australia and overseas. She explains what she’s learnt and what the future holds for this exciting business.

Business Essentials Daily is produced by:

SoundCartel
soundcartel.com.au
+61 3 9882 8333

See omnystudio.com/listener for privacy information.

Before you can effectively manage others, you need to know more about yourself. Employment lawyer and co-founder of Edge Legal David Dilger introduces four animal archetypes that illustrate different management styles, to help small business owners and managers learn about themselves. ‘The Bear’ manager, is one who dictates and focusses on results, ‘The Dog’ manager likes to be liked, ‘The Mouse’ manager, gets on the hamster wheel and takes on the team’s work, and ‘The Ostrich’ or micro manager. David says that by honing self-awareness, managers can improve their ability to lead effectively and create a more cohesive workplace.

Business Essentials Daily is produced by:

SoundCartel
soundcartel.com.au
+61 3 9882 8333

See omnystudio.com/listener for privacy information.

Online spending went through the roof during the pandemic, as consumers stuck at home relied on ordering goods that could be delivered to their door. The increased confidence and reliance in the online marketplace means that your business’s digital presence is more important than ever. So, what should you be doing to ensure you’re front-and-centre in the digital world and are serving your customers as best you can? Tamara Oppen, Vice President, Developed English Markets at GoDaddy.com.au, has timely advice on your website strategy, online payments and protecting yourself from cyber-crime.

Business Essentials Daily is produced by:

SoundCartel
soundcartel.com.au
+61 3 9882 8333

See omnystudio.com/listener for privacy information.

Australia’s small business sector is slowly shrinking, with big businesses creeping in to fill the void. SMEs constitute about a third of GDP, but just 15 years ago that figure was 41 per cent. In the same period, the small business share of the private sector employment market has dropped from one half to a third. The Small Business and Family Enterprise Ombudsman, Bruce Bilson, argues that we are “sleepwalking into a big corporate economy.” The Ombudsman describes his 14-point plan to support small businesses, from reducing regulatory burdens to offering incentives for innovation and sustainability. He highlights the need for policies that actively support the next generation of business owners, ensuring SMEs can thrive and continue to play an important role in local communities.

Business Essentials Daily is produced by:

SoundCartel
soundcartel.com.au
+61 3 9882 8333

See omnystudio.com/listener for privacy information.