Helping small businesses on the Sunshine Coast to fulfill their true potential
By BMN
Why would a gambler keep playing, even after losing a lot of money? Economists call it the sunk cost fallacy, a phenomenon which drives us to make bad decisions. Don’t throw good money after bad!
http://www.bbc.com/capital/story/20180914-the-trick-to-learning-when-to-cut-your-losses
This article was suggested by our mentor Julien Cahn
By BMN
Everyone complains about attending meetings, but here are some ways to cut the time you spend in them.
https://www.intheblack.com/articles/2018/10/12/reduce-time-in-meetings
This article was suggested by our mentor Julie Piper
By BMN
The best form of legal structure in which to place your business is something you should get legal advice on, without doubt. BUT, it is important that you think about what you want from your structure.
Even the best legal people can only really create something that suits you if you can tell them what you want.
The discussion outlines a series of points to consider when setting up a business structure.
https://www.profitsavvy.org/knowledgebase/68-landing-pages/241-wealth-protection
This article suggested by our mentor Scott W
By BMN
In an organisation of any size that has been around for a while, your Management Organisation Chart will most likely have a bad case of bloat.
This can be for all sorts of reasons including:
Adding more staff to support weak staff in place rather than replacing them.
Not letting “nice people” go – perhaps to (allegedly) maintain morale.
Takeovers and mergers not accompanied by staff adjustments…
To resolve business bloat, we look at “Span of Control”, which refers to the number of direct reports a manager should have.
https://mailchi.mp/01147c2bb848/wtips-140519
This article suggested by our mentor Scott W
By BMN
Mentor Scott W has a couple of videos he uses to lift his spirits from time to time. He calls them his”ugly duckling” videos because who would have seen the ‘excellence’ hidden behind the dowdy façade? This woman was unemployed at the time the video was made. Based on this video, now she is worth an estimated 22 million UK pounds!
https://www.youtube.com/watch?v=aRiJNS8Oz6E&feature=youtu.be