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In the 1970s the New York Philharmonic Orchestra realised they had a diversity problem. With male musicians making up the grand majority of their ensemble, a lawsuit triggered a radical new audition process. Incoming candidates would perform on a stage behind a screen, unseen to the auditioning committee. Every effort …

Taking on a new employee is both an exciting and nerve-racking time. Opening up the shared knowledge and success of your business can be a daunting task. Fortunately, this is why a probationary period exists. But what can you do if you’re still feeling a little unsure at the …

There’s no teaser here – all businesses need some kind of insurance to protect your operations, customers and income. The difficulty is knowing which policy is right for your industry, business type and size. Some insurances are mandatory, while others are nice-to-have. Then there’s the question of risk – not …

What you charge for your products or services can make or break your business. Too high a price tag and customers won’t pay. Too low and your profit margin will suffer, and that’s just not sustainable is it? Yep, setting a good pricing strategy is a conundrum. Unfortunately, …

Australian businesses, no matter how large or small, need to keep good records, checks and balances to track how their business operates. This includes records about your finances, profit and loss, details about your employees, and information about your operations. Some records are a legal requirement, and others help you …

Your cash flow is the beating heart of your business. And running out of money can spell the end — even for profitable companies. That’s why preventing cash flow issues before they occur is critical, particularly as unexpected events can happen at any time (hello COVID). Increasing the money coming …

If you want to make sure your business is the best at what it does, you need to know your enemy. Don’t worry, it’s not as ominous as it sounds! Today’s economy is driven by competition. Customers are constantly bombarded with choice and you need more than …

Let’s be honest. Trading and consumer law can be complex. If someone asked you to explain Australia’s fair trading laws, you might be a bit vague on the details. But as a small or medium business owner, it’s crucial to understand how they impact you and your …

8 cash flow red flags you shouldn’t ignore It’s not profit that makes or breaks small and medium businesses. It’s cash flow. The money coming in and going out.  It’s sobering to think that 82% of small businesses fail due to poor cash flow, which is why cash …

When should you hire an accountant? For a growing business, having a solid foundation for managing your finances essential if you’re going to stay viable and grow. As your business expands, so too will the time you need to dedicate to your finances. At some point, you’ll probably …