Its all about business.

Posts Tagged women in business

Rushing headlong to “who knows where”.

Oct 3

Posted by Steve Gray in Finance, Growth, People!, Planning, Risk Management, The Board Room | 2 Comments

Lately I have had a few reminders of what I am about to chat about. It’s a bit unnerving when people ask “When are you planning to retire?” and I answer with “I’ll never retire, I like work too much!” that covers the fact I probably won’t be able to retire financially. But I guess it makes light of a serious subject and one I have to try hard not to think about too much.

Like a lot of people I didn’t worry much about retirement, putting cash away and anyway I keep hearing stories of people losing money overnight on the stock market and their portfolio value plummets again…

The reminder for this post, listening to people in business chatter away about how things have gone, what they will do when the time comes to retire, how they might sell their asset and in one case a lady who had sold her business, watched it fade fast into obscurity so she bought it back and is building it up again.

So what will you do, sell the business, put a Manager in to run it, expand it, resize it etc? All with the aim of having a nest egg to retire on.

If you do sell, will what you have the cash ‘invested’ in provide for your needs in retirement? How much will you need?

If you build up the business and put in a Manager how will that work out? Will the amount you need to take out hurt the business? Will it be run as you set it up or better? Will things fall in a heap and you need to rescue it… will you want to rescue it!

Lots of great questions in need of great answers. Hopefully your Accountant can set you straight, or at worst your own figures will project a rosy future for you. Lets face it, in the current economic situation there is little to smile about when the notion of retirement looms large in our thoughts. Unless of course you have an asset which keeps on giving.

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What’s next, the second instalment

Dec 4

Posted by Steve Gray in Human Resource Management, People!, Planning | No Comments

This is the second part of the four part series on dealing with new recruits, this time we focus on training. Here’s what I said in the initial article.

Lousy training – Tough, though I know your training people are possibly doing what they can, given tough challenges or are just not that suited to training new employees, they might have a stronger focus on I.T. or a some Leadership program, they can be spread thin. After all did anyone tell the Training area to prepare something for the new recruit?

When it comes to training some are of the opinion “If you picked a new recruit, pick one already trained…” nice thought but there are things  your organisation will do differently to others so they might need to know how your team look after OHS issues, and about the versions of software you use. as well as looking at the values and beliefs in the organisation.

I can only hope your organisation has a great training program in place for all sorts of things and not a lousy one as I hinted at in the opening section. So that being the case your training team will have this area all handled for you when  you let them know the new recruit is about to start.

  • The training team won’t tell you “Oh the OHS (or other) training doesn’t run for another 3 weeks.” They will have a positive stop gap measure like an online training option, or at the very least a handout on OHS expectations and guidelines to give the recruit early in the process (before they start perhaps.)
  • The training team will have put together something for the new recruit on the values and beliefs of the organisation, knowing full well the value of a great cultural fit and how this can happen using foundation organisational philosophies.
  • The training team will have mapped out a schedule of what training is happening and what the recruit needs to do to ensure their training needs are met and especially in the area of the induction program and it’s time frame. They will be well and truly focussed on the recruits success in the organisation and not just for the recruitment phase either.

The new recruit, even by this early stage, will be suitably impressed with how things are going, they feel included and are valued in the organisation and are trained to succeed.

In the next phase your Leadership and communication skills come to the fore as you make sure all the team know about the recruit and a bit about how they will fit in. Join me then as weexplore the expectations of the new recruit.

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Is your business happy?

Jul 9

Posted by Steve Gray in Excellence!, Innovation and Creativity, People! | No Comments

Yes it’s a serious question, is your business happy, when you get there at the start of the day are you happy about being there? Are the staff happy too…

If not what’s missing?

- Great projects to work on.

- Great clients.

- Great workspace…

One way or another things may not be quite what you want to make the business a happy place to be. Insert a happiness officer and invite them to find out how things could be happier in the workplace.

Perhaps start with the list above and see if things evolve from there.

Take Action!

Get the happiness officer and perhaps a few others to figure out some ways to break the “sad” cycle.. and get happy.

  • Try a google search of ideas for a happy workplace, make a list of a few you can implement now (at low cost).
  • Ask how to make meetings fun, then have one just for the hell of it and see if you can get people to laugh (for all the RIGHT reasons…)
  • Have a fun morning tea (no need to get elaborate just yet just have fun).

Guidelines

  • Having fun at someones expense is only short term and useless, one’s pain is NOT another’s gain.
  • Keep it cheap and “cheerful”, quick and easy… Organisation should take the shortest time possible to keep it hassle free.
  • Try moving the job about so the whole team can be the happiness person.
  • Jokes sent via email is not really a bonding option, it’s more localised but funny quotes might be a different option, sparking debate perhaps.
  • Give out laughter awards, simple and easy a great way to keep the team engaged in the whole idea and boost morale!
  • Push for creative and innovative options, you might just find some great ways to lighten the mood at work and keep things pumped and effective.

That’s it for now, let us know what sorts of things you come up with in our comments…

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Featured forum member

Jul 2

Posted by Bren Ryan in Excellence!, People!, Starting out in business, The Board Room | No Comments


1. How did you get started in business?

I think I got started in business from birth. My Mum and Dad had corner stores and I was taught business skills at an early age. (I can remember balancing the till while in primary school… It was one of the ways we learnt to count).

After school I worked in One Hour Photoshops, working my way to Manager by the time I was 19. In 1995 I was offered a “job” at a lab as manager.. Turned out they wanted someone to buy it, so I did. This led to the expansion to 2 suburban Kodak Express stores. In 2001 someone offered me an offer too good to refuse so I took it ? (I took a year off and then took up a position as the EA to the Managing Director of the No 3 Photographic Supplier in Aus.)

Meanwhile my hubby, Mick, had been working in various companies doing Security Screens, Window installation, Blinds, Awnings etc. In 1998, I convinced him he should go out on his own. This business – Abacus Screens and Security – while successful, it suffered from my lack of time to manage the business side of things. (Advertising not planned, very much RE-active rather than PRO-active).

In 2000, he was offered a job at one of his suppliers so he took it. Lesson 1: ONE business at a time ?

Fast forward to 2005 and we moved from Brisbane to the Sunshine Coast. Mick secured a position at a local screen company. (I am still travelling to Bris 3 days a week). Mick learnt very quickly, the coast was grossly under serviced in the security screen business, so we resurrected Abacus Screens in October 2006

Understanding the problems from “Abacus Mach I” we put a number of things in place up front.

  • We made sure we had enough money to start. Printing, advertising, good ute, etc etc etc. Also enough “buffer cash” for 3 months wages, just to take the pressure off.
  • We joined a couple of networking clubs, so we had people to talk to and bounce ideas off.
  • Mick spent a fair bit of time scoping out who he knew (Lots of his old colleagues have moved to the coast and are now in management and decision making positions with building, window or aluminium companies)

Nearly 2 years down the track and all in going along VERY well.

2. What inspired you to become part of the FBT forum?

Gosh it is soooo long ago now ? From memory I was googling something to do with business and came across FBT. I am a forum junkie and join anything !!! Most though get deleted from my Favourites after 3 months or so when I get bored. So I guess the fact I have been a fairly active member for the past 24 months or so is testimony that the forum is vibrant and above all RELEVANT!!

3. What have been your three biggest business challenges (so far) and how have you overcome them?

  • Finding staff- As with many communities, we have a skills shortage on the coast. (Hmmm Well maybe not We have a “committed worker shortage”. Talk to many business owners (especially “tradie types” in any coastal community) and , if the surf is pumping, the sickie rate is high ?)
  • We have overcome this by asking prospective employees LOTS of questions (I asked the forum to give me some questions to ask – Thanks Guys!!) and following up references. My number one telling question with references is “Would you be happy to have “Fred” work for you again?”
  • Marketing – With my background in retail I have great skills in creating a rapport to keep customers coming back and back. Abacus presents a different scenario wherein, generally, we only see our customers once or twice Overcoming this is an ongoing process. I ask a LOT of questions of similar, non-competing businesses. Eg our local winner of “Young Woman in Business” is in the steel shed business, so I rang her up, took her out for coffee and picked her brain.
  • Managing Growth – Mick is getting a reputation among builders for being good ? So being able to say NO is difficult. We have learnt to say No gently, “No you can’t have it in 5 days but is 7 ok?” If he delivers in 5 Great!! But at least he doesn’t have to. Having a buffer allows us to outsource the manufacturing if need be.

4. What five tips would you give to a person starting in business?

  • Know your craft. (It astounds me how many people have NO idea about any part of the business they are in – Often seen in franchise owners)
  • Learn the basics of book keeping. It is VITALLY important to know the basics of profit and loss and the difference between Gross profit and Nett profit. I see too many people who think they can buy something for $10, sell it for $20 and think they have made $10!!
  • Work ON the business. Of course you will read that everywhere, but what does it mean? It is the time to do bookwork, time to think of marketing strategies, time to work on staffing, time for networking. You need to MAKE time. If you feel you have no time because you are actually doing the job- get some staff and let them do the job!! If you have staff for 1 day, use that day to work ON your business.
  • Make sure you (and your family)are healthy. As an employee, it is ok to have a day off to be sick or look after the kids when they are sick. It is much more difficult to do this as a small business. Keep fit and eat well.
  • Balance family life Keep a diary. USE it. I have been known to schedule family time. But it IS important to block time out in your diary for yourself. Remember that in the overall scheme of life, your kids and family is worth FAR more than any business. Little Billy’s birthday party is infinitely more important than any business meeting. If you already had a meeting with Client A and Client B wanted to meet at the same time, you would reschedule… Family is ALWAYS Client A!!.

5. Is there anything you would like to say about being in business, and or being an active part of learning more from Internet type forums?
Internet forums can be a good source of information and networking. FBT has a great cross section of industries and people who are ready to help. There is no such thing as a silly question!

6. The best part about being in business is…
The journey ?
I like to think of any of our businesses like a baby. They took a year or so of sleepless nights and teething troubles, then they walk all by themselves and eventually don’t need you anymore ? Along the way you need to guide and point them in the right direction, they won’t just grow on their own. Discipline is important and , if you get it right, you raise a healthy self sufficient entity, with a life of its own.

Mick Moynihan & Sue Josephson

Abacus Screens
25/6 Beerburrum Street
DICKY BEACH Qld 4551
Ph 5491 5489
Fax 5439 4125
www.abacusscreens.com.au

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Women In Business…

Feb 26

Posted by Emma Rhoades in Uncategorized | 1 Comment

Let’s talk for a moment about women in business and the ‘aura’ or’stigma’ that surrounds this concept.

Being a women in business, plus an owner of a business that targets women in business, I have found that age old impressions and attitudes still exist. I’ve found that the general thinking of many, (including some women), on the subject of business heirarchy tends to follow this outline:

Men in Business at the top of the pecking order

Women in Business coming in way under them

Mums in Business coming in after these.

Now, tell me, why can’t a mum in business shoot up to the top and sit right there with the Men in business?

How do we even evaluate that this is the correct ‘pecking order’?

Tell me some of your thoughts on women in business and why we always seem to be ‘different’….

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