Persuasive, confident, magnetic personality, all of that and more, with the power to influence and charm followers.  

Yes, that best describes charismatic leadership.  

You know it when you see or experience it. It’s a style that, instead of relying on formal authority, inspires and motivates by articulating compelling vision and creating strong emotional connections and bonds with followers.  

These leaders can make each person feel seen and valued, people from all walks of life.  

Are you this charismatic leader who captures and commands attention when you walk into a room, stand before an audience or address your team? 

Charismatic leaders exhibit certain traits and characteristics  

• High emotional intelligence – self-awareness, empathic, with the ability to read social cues, connecting with followers on a personal level.  

• Self-confidence & self-belief – unwavering confidence and belief in their abilities and mission that, even during a crisis, radiates assurance and composure. 

• Compelling vision – they have a clear vision of the future and can express it in such a way that it feels urgent and exciting to others. 

• Communication masters – excellent storytellers, who use their passion, expressive body language and words to elevate, rally and energise individuals and crowds. They create trust and enthusiasm among followers. 

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Never before have consumers been at greater risk of fraud, deception, and deceit.

Nothing and no-one is out of scope! 

Welcome to the world of scamming, impostors, dodgy products, practices, and deals that are too good to be true!   

Let’s look at the Scam ‘hit’ list! 

Luxury goods, toys and exclusive items are being copied for the lucrative counterfeit market. Think you are buying one of those popular cute plush ‘dolls’, the must-have possession of 2025, buyer beware to avoid fakes. Or if you are buying the cheaper look alike version shoppers are being warned that these have failed some of the Australian safety standards. 

With Christmas and the festive season only weeks away, fake texts and emails are already circulating. Scams using text messages impersonating Australia Post delivery services and trusted brands are becoming more common. Shoppers are being advised to be wary and stay alert if receiving messages that give a ‘bizarre’ list of instructions, have a sense of urgency and request personal information and bank details. Consumer Protection encourages consumers to report any incidents or concerns. 

Complaints about dodgy services and practices in the beauty and cosmetics business have been received by Consumer Protection WA in the past year. Complaints of dodgy eyebrow tattoos, haircuts and Botox head the list highlighting poor service, practitioner skills, and misleading representation. 

The agency spokesperson, however, suggests the number is likely to be higher than reported, as consumers are embarrassed for having used cosmetic services or about how they have been affected. Consumer Protection advises it welcomes and is open to receiving complaints of this kind.  

Tips to avoid Cons, Scams and Dodgy deals:  

• Stop and think before you act  

• Don't click links or open attachments from unknown sources 

• Never give out personal or financial information unless you have initiated the contact 

• Use multiple-factor authentication and strong passwords to secure your devices 

• Monitor your bank accounts and credit card statements for transactions and activity 

• Verify Business and contact details independently 

• Sight & check credentials of Providers/ Practitioners 

• Check the ABN of Australian Businesses 

• Be sceptical, if the offer sounds too good to be true, then likely it is false, fake or fraudulent 

• Report to the relevant Authorities any suspicious activity 

Creating and cultivating a happy, positive work environment is something you can’t afford not to do. If you are a Business owner it's essential to the success of your venture! 

It’s positivity, that aura you can feel, sense and see! These are the ‘happy’ vibes and rays given off by contented people, employees and customers alike. 

You may have found the key and are one of the lucky ones who have experienced such euphoria! Your workplace environment exudes happiness. Customers also enjoy the benefits of a ‘happy place’ and keep coming back for more.

And it’s not that hard to achieve this Shangri-La.

If you are a Business owner you can start by sowing the seeds. In this article, we provide the tips to create a positive, happy workplace. Nurture and you will see cooperation, trust and accountability grow and flourish. It’s about striving for a shared purpose, values and trust, that is developed between you, staff and your customers. By following our Tips you can harvest the benefits. Make your workplace the one everyone wants to be at. 

1. Wear a smile: How you present and interact with others is how they will react to you. Smiling is contagious. If the Manager has a positive demeanour it can influence emotions and create a sense of happiness. Employees are more likely to feel relaxed, communicate more and worry less. Happiness fosters confidence and motivation. Not happy! Frown and your staff frown with you.

2. Foster open and honest communication: This is the conduit for constructive exchanges and are the building blocks of healthy relationships. Encourage feedback, listen and act on it as needed. Staff will appreciate the opportunity to speak and will feel valued. Open and honest communication is essential to transparent management. Importantly, invite input from your customers, online surveys or face-to-face, hear and heed their comments. Without customers you are out of Business.

December! Another year! Where has it gone!  

A question, a conundrum, most of us pose and face at this time of year.  

It is usually followed by pondering ‘what have I done, achieved, or accomplished, how satisfied am I with life and am I doing what is important to me?  

And as you reflect on your private and business life, are you doing so with joy, despair or a mix of emotions?  

Congratulations if you are shouting with delight, having ticked all the boxes, but if you haven’t, don’t let yourself dwell on what might have been! 

Restart now, reset the calendar and your goals!  

Do you want to run a marathon, make a million dollars, be the best version of yourself or all of those! Don’t let another year pass you by with missed opportunities, use reflection as a way to begin again with purpose. Look back without regret or remorse, learn from mistakes, and celebrate success!  

Simply put, reflecting, auditing, planning and preparing will set you up to find fulfilment and achieve your desired goals in the coming year.  

If you are a small Business operator, December is the perfect time to reflect on the past year’s challenges, setbacks and successes to better prepare for the next year.  

Get started now with these 7 Activities:  

1. Recharge & Reboot: Take time to refresh and recharge your ‘batteries’ to avoid burnout. Renewed energy and rejuvenation can foster new ideas and thinking, and clearer decision-making. And who doesn’t want that!   

2. Review Performance: Review last year’s sales, customer feedback and marketing efforts to identify what worked and what didn’t. What were the key performers and what were the sleepers? Monitor trends, follow industry changes, and act to stay ahead of your competitors. 

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Where has the year gone! As December closes upon us, this is a common statement heard over coffee, in the lunchroom and at BBQ’s! And usually followed by asking ‘what have I done, accomplished or achieved’! 

Next, there is silence, angst or critical analysis! 

Rather than dwelling on or dismissing the topic why not turn it around with thoughtful reflection. Reflection is looking back, learning from past experiences, to review without regret or remorse, celebrating successes and going forward better informed and energized.  

December is a good time too for small Business owners to reflect, review and reboot! 

Keep reading for the 9 Questions of Reflection challenge!

Simply put, reflecting, auditing, planning and preparing based on the past year will set you up to find and enjoy fulfilment and success in the coming year. 

• Reflect: press the pause button and reflect on what has transpired  

• Review: Identify what worked and what didn’t. Were goals achieved; milestones met. Who, or what contributed to success or didn’t. Give thanks and recognition to those who have been with, your Team, Suppliers, friends. 

• Reboot: re-charge your batteries, refresh and plan with renewed zest and energy.   

Now, challenge yourself and ask the 9 Questions of Reflection:

Nostalgia, an emotional state, is characterised by sentimental longing for the past, particularly in times of uncertainty, turbulence, and financial struggles. History tells us we turn to the past to remember simpler times, the good old days, and to escape reality. We seek solace and comfort, reminiscing about happier memories and experiences, clinging to the familiarity of things we understand and recognise. Old songs, movies, photos, and places will trigger feelings of nostalgia! 

Nostalgia also has a way of capturing our hearts, taking us back to iconic moments in history, providing comfort and joy in what we know.  Who can forget the mini skirt of the 60’s, 70’s flare pants, 80’s Buffone hairstyle.  

And it’s happening, nostalgia is alive and well! 

Using nostalgia in business marketing inspires positive feelings, fostering emotional relationships and strong bonds between Business and customers.  It’s achieved by blending comforting, familiar elements from the past with current thinking and techniques to build connections. These connections create a sense of belonging and drive brand loyalty.

Examples include,

Patrons flocking to the flicks! A spokesperson for Universal Pictures, domestic distribution, commented ‘audiences are voting with their wallets’ as recent films have appealed to a broad range of people. Additionally, there is a generational connection, attracting at the same time, both parent and child.  It’s a marketing dream. Mario, Blockbuster, romance or drama, there is nostalgia for all tastes.  

And it’s become all about the experience, as a social event, a full night out, planned and not just seeing a movie. To be competitive, venues are responding by offering boutique lounge-style cinemas, with upgraded formats, such as V-Max, IMAX, and Gold Class.   

Live Entertainment, yes, who can forget the images of celebrated celebrities taking fans on a ride back in time at the recent music Festival or shared experiences with Disney stars reliving their past performances. It could be said Hollywood has realised the dollar power of what has previously worked and enthusiastically embraces the nostalgia sentiment.  

And old-fashioned TV watching is enjoying popularity as viewers drop streaming as they are overwhelmed with choices and decisions. Instead, they escape to the familiarity of old shows, which can transport them back to a different time and bring back comfortable feelings. Kath and Kim,  Friends, Frasier, old favourites that can serve as a positive psychological function, particularly during times of emotional strain and stress! Yes, the toll of the uncertain and challenging times we are experiencing. 

So what does all this mean? 

Are you a small Business! Yes, consider, is there an opportunity to explore a ‘nostalgia’ marketing initiative? 

Let’s look at that.  

7 Strategies leveraging retro aesthetics, memories and products to connect with your audience.  

1. Repackage or revive traditional products – classic packaging, branding logo’s and images along with old favourites, products, are popular. This takes consumers back to what they know offering nostalgic associations. The biscuit tin, jar or candy wrapper are examples. 

2. Target specific times, decades – identify your audience and demographic to reconnect to the era of their youth or ‘good old days’. Revisiting recreates a sense of stability and simplicity in a time of rapid change, and progress of today's society. Do your research, know what sparks Gen Z, Millennials, and Gen X.   

3. Be real, not recycled - design, visuals, past jingles, soundtracks and footage can be used to arouse emotion and evoke memories. Ensure content is authentic, the real thing, stay away from gimmickry. Nostalgia doesn't mean outdated. 

4. Celebrate milestones – tap into milestones to create positive engagement and connect to your audience. Anniversaries are an example that help build brand affinity. Customers can associate this with their own experiences. 

5. Tell the story – authentic storytelling using old stories to connect with the brands purpose, such as sharing the founder's purpose and product beginnings. Everyone loves a true story that bridges lived experience, time, cultures and generations. Engage with your audience, encourage their participation using links and hashtags. 

6. Balance old and new - tripping down memory lane needs to be balanced and resonate with current trends and modern values. Be aware of the changed social landscape, cultural norms and social issues are different. Business marketing strategies need to be mindful of what is appropriate in today's context. 

7. Nostalgia is universal – appealing to young and old.  It is versatile, transporting consumers back to their cherished past or introducing them to a previous era that predates their own experiences. Younger generations have embraced anemoia described as experiencing deep longing, nostalgia for a time, period, or place one has never experienced. Vintage fashion, music and old photos are triggers for ‘borrowed memory’, linking present generations to the past.  

Test the waters! 

Discover Nostalgia marketing and create your campaign.

Importantly, understand your customers’ nostalgic sentiments to connect and resonate on an emotional, respectful level. Mix vintage with modern tools and techniques. 

Tackling a home renovation, making your own wedding gown or planning your retirement, is it a 'do-it-yourself' task or one that requires the skills of a professional!

Yes, that is the critical Question to ask yourself before deciding.

 With any task it's about joining all the pieces of the puzzle together, to fit, function and peform to produce a successful outcome, and we know that can be tricky and challenging. For that very reason it's worth asking the questions, more importantly considering the pros and cons of, DIY or engage a Professional!  

We have all heard the arguments for DIY, do it yourself, its cheaper that hiring an expert, surely it can't be that hard a task and DIY can be fun and rewarding. And don't forget the heaps of free advice from friends and 'web'.

Now ask yourself these 7 Questions, and answer honestly before deciding!

1. do I have the necessary skills and abilities
2. do I have the 'expert' subject knowledge needed
3. what do I know and dont know
4. is this a job I can tackle and learn as I go
5. do I have the right tools and equipment
6. what are the possible risks, accident and financial
7. and critically, do I have the time!

 How did you rate yourself?

As a general rule, the tip is to only undertake projects you feel comforatble with and have the skill set to complete them with 'best' possible results. This applies to any job that needs professional skills and knowledge to fully complete the task successfully. And don't we all want that!

 If you have answered yes to the above, consider carefully the benefits of engaging a Professional. 

These include:

• the contractor is qualified in the field of work
• has the necessary 'tools' and equipment
• provides cost effective expertise
• ensures the job will done correctly (to any regulations, specifications and your requirements)
• in the end it delivers savings in time, effort and cost.

With these positives in mind it makes good sense that with something as important as taxation matters, unless you are a tax expert, why wouldn't you engage a professional Accountant?

Influencers! Are they the best thing since sliced bread! 

That depends on what you are looking for, aiming to gain or achieve!  

Step one, before heading down this path, it makes good sense to define your marketing strategy and determine whether engaging an influencer is the best way to achieve your campaign goals. 

There are numerous considerations and questions. Ask yourself! 

• Do the Influencers' values align with your organization? 

• How will and Influencer help you achieve your goals? 

• Are the influencer’s claims legitimate? 

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Estate Planning, a topic and conversation often avoided or spoken about in hushed tones. Estate Planning is the process of developing a strategy to deal with your assets after your death. 

It involves arranging during a person’s lifetime for the management, transfer and disposal of that person’s estate, both during their lifetime and after death. Covering your assets such as personal belongings, investments, and property. 

The process entails creating legal documents like trusts, wills and powers of attorney to appoint guardians, minimise taxes, and ensure your wishes are followed.  

Estate Planning is more than just having a will! 

Estate Tax Planning is about wealth succession, a way to help protect and ensure the wealth you have built over a lifetime is distributed according to your wishes. There are benefits for all concerned. 

If you are a Business operator, approach Estate Planning as part of your overall Succession Plan for your Business. 

In the spotlight Leadership in a digital-age!  

The message to Readers, be aware of the implications and consequences! 

With most aspects of private and Business life in the public arena, never before has ethical and moral behaviour, standards of integrity and honesty been more important. 

Morality refers to an individual's internal sense of right and wrong, doing the ‘right’ thing.   Business ethics are the principles and values that guide corporate conduct, decision-making and stakeholder interactions. These compass honesty, fairness and transparency that go beyond legal requirements. 

Today’s digital–era presents a new set of circumstances. It exposes personal life and professional conduct, and the repercussions when the two collide very publicly!  The slightest of misdemeanors potentially has and do bring down the mightiest of Companies and their Leaders. You have seen the headlines! No Industry is immune or can slip under the radar. 

Ethics and morality are about the Leader who demonstrates these values both inside and outside the Company.  Breach of that code undermines trust and confidence in both Leaders and the Organistions reputation. 

There is the moral manager who promotes ethics through standards and structure along with the moral person who embodies those values in interpersonal relationships, sound moral judgement and personal behaviour. Delve into leadership psychology for more on this subject. 

It’s now apparent after the recent fallout of the very public concert images that when the custodians of ethics, those at the top break the rules, organisational trust, creditability and culture suffer.  These are the damaging consequences that come with associated risks!  Investors are investing in both the product and the Leadership group. Bad publicity and scandal at the highest level threaten confidence in governance and Business stability. 

Simply put, morality has become a Business asset. 

Let’s look at Ethical Leadership more closely. 

Traditional leadership development still promotes strategy and execution, which are important elements, but without ethics, public self-awareness and emotional intelligence, those competencies are insufficient. 

Today’s leadership now requires a new skill, ‘digital-era’ awareness and judgement. Use of Smartphones and social media blurs the lines between professional and personal lives. In this period of constant visibility and exposure, moral failure has consequences for both the individual and Business enterprise.  

And when in the spotlight, a Company’s values are tested, as to whether its ethics are simply words or real operational standards. It’s more than going into damage control. To win back trust and restore integrity, the Organisation must take action driven by vigorous and robust commitment.   

Building ethical trust starts with redefining corporate governance. 

• Choosing Board Members. In our modern era, Member selection should be based on strategic competence coupled with character assessment. Consider, do those in a position of power qualify in terms of ethics and integrity? 

• Company values must be clearly expressed, understood, and enforced regularly. Ethical standards and upholding them are the responsibility of everyone, from the top down. Lead by example.

• HR must be and remain beyond reproach. Accountability and transparency are crucial elements when ethical failings occur by those meant to protect cultural integrity. 

• Leadership Succession Planning. This is vital to ensure that if the situation arises, an appointment can be made quickly to help stabilise the Company. Plan ahead, foster, and develop your Team built on strong Organisational and personal moral and ethical standards. Build a Team on solid accountable foundations.

Takeaways!  

Ethics, integrity and moral behaviour are the responsibility of everyone. 

Think before you act, personally, professionally in private or publicly! 

Failure to implement – Failure to act! 

And who hasn’t, despite knowing what to do and how to do it, we just don't take the action to get it done. 

And small Business are not immune, they too can suffer the implications and ramifications of FTI.  

• They don't do as well as they could 

• Growth is hampered  

• There is lost opportunity 

• Development is stifled 

• Owners are caught up in day-to-day activities, can be overwhelmed or distracted. 

• There is failure to act, to implement, the job doesn’t get done.  

Sound familiar! Do you recognise yourself?  

Yes!  Keep reading, there are strategies and steps to overcome the tendency toward inaction. Lead by example and say goodbye to FTI! 

5 Key Strategies to implement 

1.Internal Inspiration: this is the internal light and energy from within that fuels and inspires your visionary thinking. Inspired successful small Business owners see opportunity in challenges, they are always on the lookout for new ideas and ways for improvement, personally and in the Business. They can see possibilities where others don't. Mind-set is key here. Dream, aspire, have visions and believe you can achieve them.  

2.Embrace Learning:

Family-owned Businesses come in an assortment of shapes and sizes covering a range of industries, including retail & hospitality, health & fitness, Petcare services and tourism! You name it and there will be a family-owned Business ready to deliver quality goods and services to you. 

But behind the scenes often complex family dynamics play out, dynamics that if left untamed or unmanaged can hamper both Business and family relationships and outcomes. Personal viewpoints, status, skills, role and beliefs can and do affect working relationships positively or negatively. 

The key to achieving success is to harness the strengths of family dynamics by recognizing and addressing the complexities of those differences. 

5 Strategies to achieve your Business success:   

1. Develop a Family Constitution: Create a Constitution to guide, inform and direct Members. This is an effective tool to clearly state roles and responsibilities, along with rules that govern interaction between parties. It can also provide a framework for resolving disputes and help clarify members expectations, for example, the process and requirements for members joining or leaving the Business. Such a framework and by adopting good governance practices ensures all family members are treated equally based on ‘merit’, not simply family ties or perceived favouritism, helps minimize risk with family involvement and deal objectively with any issues that may arise
2. Balance Business & Family: separate Business and personal responsibilities and set boundaries to provide work and family life balance. Both are important, take and enjoy time out, set aside 'family' only and avoid bringing Business issues to the family dinner table or family gatherings. Well balanced strong healthy relationships are the cornerstone of personal and Business achievements and successes.  

Failing to let go of the reins in a family business can be fraught with problems and often harmful consequences to the Business and all concerned.  

Not letting go leads to the Business crumbling. Crumbling under the strain of family conflict, a lack of next-generation interest or no ‘suitable’ one to pass the reins to.  

With the founder still holding tightly onto control, new ways and progress can be hampered or ignored. All these issues have the potential for Business dissolution. 

Additionally, by not letting go of the reins, the founder may find both their personal identity and future retirement plans can be jeopardised, along with all that they have worked hard to establish. There are no winners in these scenarios! 

Consequences for the Business and Family Members 

Family Conflict: Holding onto power creates tension and disharmony so severe that the Business is disrupted to the point of dissolution.    

Strained Relationships: As siblings compete against each other, and with no handover or transition planning, the family and Business unit are thrust into disarray. Resentment impacts familial bonds and Business unity. 

 As with all groups and relationships each member comes with their own views, opinions, values and beliefs. Personalities of all types come together, including conversative, traditionalist, liberal or progressive thinkers each with their own agenda.  

Family Business are no exception. 

Put in the spotlight, we see Family Business enterprises are unique in that their personal and professional realms are intertwined. Family Members are the drivers, with the power to influence decisions, they govern, own and control operations. But this doesn’t equate to cohesion, they are no different when it comes to differences. Relationships can be strained, and tensions arise. 

Do you recognise this scenario in your family Business, 'Mary feels overlooked in the promotions, with little opportunity for growth. Discontentment that is festering as sibling rivalry with her brother. Friction now hampers both their performances'. If ignored this can undermine the operations.

The key is to understand the issues and mitigate potential conflict by taking preventative measures. Foster a harmonious work environment. Happy workplace, happy family.   

6 Common differences 

1. Differing Values, Goals and Family vision 

2. Lack of Clear Roles and Responsibilities 

Sibling rivalry, nothing new, but in a Family Business if left unchecked can become a major problem presenting challenges for all concerned! 

Addressing it is crucial! Ignore and the consequences can be great! 

Adopting proactive strategies, planning and communication is key to taming and tempering negative competition and contentious issues. 

Why, how does rivalry occur?  

It can happen when emotional needs are not being met. Siblings compete for parental recognition, attention and reward that can translate to and present in the Business environment. If unresolved, rivalry festers and relationships can become toxic as siblings strive to prove their worth.   

Strategic differences are also factors, such as differences in Business direction, values or approach.  There may also be assumed expectations. All these can manifest as conflict, arguments and disagreements over leadership roles, authority, decision-making or succession planning. 

Consequences: 

Sibling rivalry if left untamed has the power and potential to impact and threaten the stability of the Business activities, family relationships and future of the family entity. Such disputes are destructive resulting in decreased trust, difficulty in reaching or making decisions, and weakened morale.  Worst case scenario family's are torn apart and the Business colapses. 

Example:

Scenario 1: The fights in the media have been played out very publicly as siblings scrabble over who will take over the media empire when their father passes. Family unity is long gone in this succession nightmare as feuding to-be heirs speak through their lawyers. Not pretty or nice!

Scenario 2: On the other hand, another media mogul is enjoying the benefits of thoughtful and careful early Succession Planning. Family members are treated equally without gender disparity, dynasty pressure or inheritance conditions.  This Business tycoon will leave a legacy that has eluded many millionaire and billionaire families in the transfer of inter-generational wealth 

Whether your Business wealth is substantial or modest Succession Planning is a must to put your affairs in order. Why leave things to chance, hopeful good intentions or relationships. You have worked hard to establish a successful Business, to enjoy, reap the rewards and leave a legacy for future generations.  

Not sure what to do or how to prepare?  

Contact Blackburn Accounting we are your Family Business Specialists we offer solutions to the following issues, Succession Planning, Financial structures, Strategic Planning, Retirement and Estate Planning, Resolving conflict and more.... 

In families and Family Business relationship dynamics can be positive, powerful, fragile or destructive. How this plays out will determine success or otherwise. 

Key to a successful enterprise is to make sure the family understands that the Business is a commercial venture and needs to be run in a professional way for the benefit of all concerned. 

When it comes to the question Who is the Boss, the leader, conflicting dynamics, and power struggles can and do create some thorny and sometimes toxic situations. Further adding fuel to the fire is whether the leader has formally delegated authority or not, has taken over by default or acquired by stealth!   

In this sticky predicament, determining ‘who’s the boss’ relies on several instruments, including separating family roles from Executive, defined Governance and transparent  Succession Planning.  

Developing a Strong Business Structure: 

1. Separate Ownership from Management. Importantly, know the lines, boundaries of operation, and roles to ensure there is no blurring of authority or misunderstanding.  

Simply said, effective planning is vital to any, to your Business success. 

Developing and writing your Business Plan is the first step when starting a new venture. There are many benefits! 

• Your Plan is a strategic document, a description of how you present your Business to the market, potential customers and investors.  

• It can help you to secure finance, prioritise your efforts and evaluate opportunities. It’s a crucial and essential tool for any Business. 

• It acts as a roadmap and guide, spelling out the key elements that are vital to achieving your goals. It sets the context, objectives and is a way of assessing the viability of a Business venture before investing too much time and money.  

A solid Plan includes these 7 Key components:

The Travelling Wilbury's sang it, but what happens when it is a family Business that has come to the end of the line? There is no next generation or successors to hand over to or, those in line have no interest in running or keeping the business? 

There are a number of steps involved, including winding down, preparing an exit strategy and planning for closure or sale.  

Importantly, early planning and structuring your exit can help to minimise the risk of reduction in family wealth while still meeting your tax and other obligations.  

Sell the Business - This can be the answer and a positive step forward by providing capital for your retirement. 

This step, where applicable, will also allow younger generations to pursue their own interests. Seek professional help, including legal advice, an Estate & Retirement Planner and a Business Sales Realtor.  

Liquidate the Business – this may be the only way if sale or transition are not options. Seek professional legal advice, as there are formal processes that must follow to bring about the end of a solvent company (voluntary deregistration and voluntary winding up).  

5 Critical Steps: 

1. Assess the situation: consider all your options, pros and cons, before acting.   

End of the Financial Year! Why is it a great time?  

It’s an opportunity to take stock of your Business and personal life. A time to reflect, look at what has and hasn’t been achieved, realign targets and reset your goals for the coming year.  

Running a Business! What do you want to achieve? More importantly, how will you accomplish it? 

Think smart, strategically, and take the following 5 simple Steps to reposition your Business for the year ahead. 

1. Undertake a Business Health-Check- This includes review, assessment and evaluation of Business performance in key areas over the past 12 months. For example,  

• Products and Services. Did these meet targets and expectations, yours and customers? What’s performing and what’s not!  

• Financial goals. Is your cash-flow flowing, profit margins healthy, and expenses to budget?

• Debts. Plan, monitor and carefully manage e.g. factor in tax obligations.  

• Get paid faster by streamlining receivables with automated invoicing and payment systems.

• Cut unnecessary costs. Look at waste, trim and explore better deals with suppliers. Examine utilities costs, insurance, energy and stock inventory. Is there a capacity for savings? 

• How’s your bottom line? Examine your profit and loss statements to understand your Business's financial standing. Healthy bottom line, healthy Business! 

2. Refresh Business Goals –

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