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8 Types of Business Taxes in Australia

When starting a business in Australia -- whether big or small, you need to make sure that you have registered for all the required taxes. Although most of these are dependent upon the type of business you are entering into, there are some standard taxes that must be cleared no matter what kind of business you are starting. Some business taxes are applicable only on a few types of businesses. Taxes also vary with the size of your business. Here are some of the taxes that you need to pay in order...
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Business Tips For a Great Year Ahead: Planning The Post-Christmas Hang Over

As we approach Christmas, no doubt, we are all very busy both on the work and home front finalising client orders and last minute Christmas preparations. Christmas time is for a lot of us, is a time for a well-earned break and a chance to recharge the batteries. Christmas is a wonderful time of the year as it gives us all a chance to step back from the hustle and bustle of daily life and spend time with the family, think about those less fortunate than ourselves and spend some quality time relax...
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Business Brokers: Who They Are And What Do They Do?

As a business person who wish to buy or sell a business, you might be wondering if it’s really good to consult a business broker or not. Apart from selling a business, you might just wish to know who business brokers are and what they do. In this article we focus on “what is business broker in Australia and what they do”. Who are business brokers? A business broker's main focus is helping people buy or sell a business. They are professionals in what they do and have inestimable knowledge and e...
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The Fare Game: What Uber Has Taught Us About Antiquated Business Systems

Uber is running hot in the media right now -- albeit for all the wrong reasons, and everyone has an opinion about the service – whether it’s good, bad, illegal, or a god-send. What is undeniable is that apps like Uber and GoCatch have changed our taxi user experience for the better. You can now stand on a street corner and see in real time how many cabs are in your area. With a click of a button you can book a cab, and know immediately how long it will take to be picked up. Where it started I...
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Do I Need to Register For GST?

Do I need to register for GST? This is a question I am often asked by potential clients. So what is the answer? Well it depends. The first thing is to ascertain if you are operating a business or is it just a hobby. I’ve written about this in previous blogs shared so I will not revisit this. Let’s just assume that you are running a business and you have applied and received and Australian Business Number (ABN). To register for GST, you must make a supply of goods and service called taxable su...
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Foundations of Motivation #2: The Mighty Power Of Language

I really dislike the word work. To me, the word has connotations attached to it such as drab, monotonous, hard work and tiring. So you could imagine every time that I go to work how I choose to feel. This is much like the word job, again, screams temporary, unimportant and purposeless. When I replace the word work with the word hustle it inspires a new kind of energy within. You see for me, to hustle is the opposite of work, I find hustling is to get things done, to move toward the finish, to h...
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How Can You Get the Most Out of Your Life, Family, and Business?

How can one get the most out of his life, family and business?  You will be surprised to know that it is pretty simple. Yet oftentimes, we make life hard even though it does not have to be. The first thing you have to do is to decide what is relevant in your life and what is not working for you. This is simply because we have the capacity to hold on a little more than we should especially on irrelevant things that we eventually become ineffective in other areas of our lives such as our business...
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If Today Is Your Last Day What Would Your Regrets Be?

If today is your last day, what would your regrets be? This is an interesting question, isn’t it? You would think that the answers from each person would be varied and very different. In fact, research suggests otherwise. I started thinking about this question over 10 years ago and it has totally transformed my life. You see, my cousin died at a tender age of 38 and one of the last conversations I had with her was about a regret she had. It got me thinking about what regrets I would have if I...
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SMEs: Are you Satisfied With Your Life?

So often, we try to live the dream -- marriage, family, career, the big home. We often spend so many hours in the office working hard just to keep what we have that we end up not being content. Life gets busy and time slips away. Before long we find ourselves ready for retirement. As we sit back, often times we wonder what else might have been out there for us? If things were different, what could I have truly become? Normally, others would tell us that we should be happy because we have everyth...
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How To Reduce The Risk of Lawsuits

Each and every business, both big and small, will do their best never to receive a lawsuit. Nonetheless, they are a very real danger to business owners both in terms of finances and in terms of your reputation. But what can you as a business do, in order to protect yourself, your employees and the business itself? Be aware of what you are saying and doing First, limit any conflicts of interest – no matter the benefit to your company in the short term, it will not be worth the fallout. Don’t as...
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The Pursuit of Appyness - Apps on How to Deal With Stress

Australia is a great place to live, but the actual ‘living’ part is one area that’s not looking so flash – work/life balance is becoming increasingly disproportionate. According to the latest OECD Better Life Index, the average Australian worked a total of 1,693 hours a year, in comparison to the OECD average of 1,176. Working for longer than desired hours can have a significant impact on health and wellbeing, and anxiety levels are creeping up accordingly. Approximately 14% of Australians will...
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5 Savvy Business Tips We Can Learn from New Zealand's Top Entrepreneur Michael Hill

As one of New Zealand’s most successful entrepreneurs, Michael Hill has taught us all that developing a business during difficult times can be, ironically, ideal. Sir Michael Hill believes that the recession has provided him with several opportunities for expansion and product development, growing his once small New Zealand jewelry store into a huge brand with worldwide reach. His business strategy has always depended on this basic concept and continues to expand upon that premise. He also remai...
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Lean Commercialisation and Cycling: Getting Your Ideas to Work

In the late 1980’s, I remember a lecturer on my Engineering course at Imperial College, UK telling me about an exciting new production technique that was being pioneered at Toyota and that it would make a massive difference to manufacturing. We heard how all employees understood standard deviation (which is where the name of Six Sigma comes from) and were able to apply their knowledge to a methodology that was to become known as Lean Manufacturing. I went on to apply basic Engineering principle...
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Your Complete Business Guide On How To Register for GST

Goods and services tax, often known as GST, is collected by registered businesses. GST is a tax on most goods and services sold or consumed in Australia. If your business is registered for GST, you will have to collect one-eleventh of the sale price from your customers and pay it to the Australian Taxation Office when it is due via lodgment of your Business Activity Statements. Currently, the GST rate is 10% on the sale of most goods and services in Australia and applies to most businesses. Whe...
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Ultimate Guide on How to Start A Business Today

Congratulations! You have an idea for a business and you want to know how you can get this business started. Below is my ultimate guide on how to start a business today in 6 easy steps. This plan should be referred to on a periodic basis to keep you focused. It is an evolving document. 1. Develop a business plan: This can be as simple as one page which documents the following: What your business is What products and services you are selling What is your target market Who are your competitor...
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Differences Between A BookKeeper and An Accountant: Who Should I Call?

What are the top differences between a bookkeeper and an accountant? This is an easy guide that will help you discern which services do you require for your business. Bookkeeping Bookkeeping today is far more than just entering data and reconciling the bank statements. A good bookkeeper thinks about the needs of the client, and the different processes to get a result. Good bookkeeping now includes above and beyond this standard process to ‘think’ more about each stage and ask the questions ‘ca...
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Small Business Marketing Strategy: PLUG THE BUCKET!

If you think that marketing activity should be solely focused on gaining new customers, you need to read this! This is a small business marketing strategy you need to know. New customers are great. Of course, we need to market ourselves to new prospects. But how about the people who already know you, like you and trust you? Are you neglecting them? It’s simple math. It costs you more to gain a new customer and sell to them, than it does to make another sale to an existing customer. Plug The Bu...
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Investors For Start-ups: Where to Find Them?

There are a variety of different types of investor that businesses looking for financial support can look towards for funding. Which type of investor a business owner should approach relies predominately on what kind of business it is, and how much money is needed.  Angel Investor An angel investor is a good option for start-up businesses, but can be very difficult to find. Angel investors are most often individuals with significant financial resources who invest into a business because they p...
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My 25 Best Quotes To Inspire Epic Personal Performance

I’d like to leave my final thoughts with you for 2014 by sharing 25 of the most liked quotes from my articles this year… Please use them around your office, with your teams or post them up on your wall as a reminder to create epic results in your own personal performance and with your teams… 25 quotes to Inspire Epic Performance 1. Leaders within an organization are called to be thermostats, not simply thermometers. 2. When you surround yourself with fear and negativity you activate the part...
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YouTube Tools for Success

When it comes to search volume, it might surprise a lot of people to know that YouTube is the number 2 search engine in the world behind Google. Even with this incredible statistic, many digital marketers overlook it when creating their holistic online strategies. The truth is, YouTube is really easy to advertise on. Because it’s often overlooked, it can be quite cheap too! I want to share with you a couple of secrets to success on YouTube, and in the process hopefully give you some ideas to try...
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Work Productivity: Are Your Environments Inspiring Or Expiring You?

In last week's blog, I touched on how to continue improving our work productivity by investing into one of our key assets - focus. Today I want to share specifically on our other key asset, energy, and the idea of environment. Everything in your life right now can be classed as an environment, which has either a low or high level of energy to it -- your mindset, your office, your phone, your home, your thoughts, your body, your car… I believe that for one to increase productivity and execute w...
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Success in Business: Like It or Not, it’s all about Money!

As a business growth strategist which has advised thousands of businesses over the last 20 years, I am fascinated at what drives people to success in business. I was so fascinated that I began to make a list. A few years ago, I read a book by Brendan Nichols which stated a similar list as mine, but his list was more refined so I now use his. I call the list ‘Things That Make Us Believe We Are Successful’ and I use this often in Strategy Planning Days to work out what makes my clients tick. What...
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Protecting Yourself from Insurance Fraud: What Should You Do If A Worker Is Injured?

Situations where your workers have been injured must be tackled with caution and care. The most important to have in mind after an injury at work is the recovery of the worker and their return to work. Taking part in a process like this can be long and tiresome. Besides the injured worker and the employer, the participants here are the doctor and the insurance agent, unless the employer owns a license and can pose as a self-insurer. It is important to know what to do so to protect yourself from...
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5 Tips to Managing a Global Team

Expanding your business on a global scale has never been easier with resources like virtual offices, teleconferencing facilities, business lounges available worldwide to cater to every business need. In fact, going global may help propel the growth of your business. A worldwide survey conducted by Regus revealed that businesses that engage in international trade are reporting better results compared to those that rely solely on their home markets. While globalization brings with it cultural dive...
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CPA Bidding 101

Conversion Optimiser (CPA or Cost Per Acquisition bidding) is a bidding tool which lets AdWords use your historical conversion data to determine when to bid, how much to bid and what to bid on in order to secure you conversions at the best possible acquisition cost. Put simply, it takes your campaigns conversion data, analyses it and bids on your behalf based on bringing in conversions at the best possible price for you. How do we set this up? Here is the catch: Google requires a decent level...
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