Written by In today’s competitive business environment, small to medium enterprises (SMEs) must recognise the critical role that customer onboarding plays in securing long-term business success. Recent research has revealed a concerning statistic: 74% of customers are willing to switch to competitors if their onboarding experience is too complicated. This highlights the pressing need for businesses to streamline and optimise this vital process to retain customers and ensure sustainable growth. Onboarding can be a lengthy and challenging process, with corporate clients averaging up to 100 days to fully complete their onboarding experience. This extended timeline can put a strain on relationships between businesses and their clients, often leaving customers frustrated and disengaged. Furthermore, over 90% of customers believe that businesses could significantly improve the onboarding experience, underscoring a clear gap between expectations and service delivery. For SMEs, failing to optimise the onboarding process can undermine the efforts of sales and marketing teams, as acquiring new customers is estimated to be up to 25 times more expensive than retaining existing ones. Therefore, businesses that don’t streamline the onboarding journey risk losing the momentum built by their sales teams, as customers may become disillusioned with the process before it’s even complete. In the software industry, this disconnect between customer needs and service delivery is particularly evident. Despite increased investments in customer success, 75% of software companies report declining net revenue retention rates. This points to the fact that many companies are still struggling to meet the expectations of their customers, even with additional resources dedicated to customer service. “Service companies have long struggled with fragmented communications and inefficient processes, making it difficult to consistently deliver exceptional client experiences,” explains Srikrishnan Ganesan, Co-founder and CEO of Rocketlane, a leading SaaS platform for professional services management. This fragmented approach, particularly when using inconsistent tools, can disrupt the customer journey, leading to dissatisfaction and disengagement. To avoid this, businesses must prioritise automation, customer-centric onboarding, and AI integrations to streamline processes. Automating certain aspects of the onboarding process, such as email triggers and reminders, can enhance customer engagement, ensuring that clients feel consistently supported throughout their journey. In addition, 73% of customers now expect businesses to provide personalised solutions that cater to their unique needs. This makes it essential for companies to focus on creating a seamless and personalised onboarding experience that enhances client satisfaction. By doing so, businesses can build stronger, more loyal relationships with their customers, increasing their chances of long-term success. The trend is clear: 60% of companies are now establishing dedicated onboarding teams to focus specifically on delivering a smooth and efficient onboarding experience. For SMEs, investing in dedicated resources for onboarding is no longer a luxury but a strategic necessity. Those businesses that can deliver value and a seamless transition from the start will not only foster customer loyalty but also drive revenue growth. In conclusion, simplifying the client onboarding process is crucial for small to medium businesses looking to stay competitive and retain customers. By embracing automation, personalisation, and cohesive support systems, companies can ensure a smooth onboarding journey that not only meets but exceeds customer expectations. In doing so, they can secure long-term client relationships, improve customer satisfaction, and ultimately drive business success. The post The Hidden Cost of Complex Onboarding: Why Your Customers Are Walking Away appeared first on Small Business Connections.
With the festive season fast approaching, a new national survey from Australia’s #1 platform for connecting with tradies, hipages, has uncovered a worrying trend: a large number of tradies are struggling to take a well-deserved break. Despite the holiday season offering a perfect opportunity for rest, less than half (49%) of the nation’s tradespeople have taken more than a week off in the past year, and a significant 64% say that taking time off during Christmas feels “near impossible.” The survey reveals several key barriers that prevent tradies from stepping away from their work and enjoying a proper break. The most common reason cited is that their business cannot function without them (40%), followed by the inability to afford the cost of a holiday (38%). Another pressing concern is the fear of losing clients (37%), and many tradespeople feel they simply don’t have the time to take leave (36%). Additionally, 26% of tradies mentioned they need to reinvest their money back into their business, which further limits their ability to take time off. Key Findings from the Survey: Less than half (49%) of tradies have taken more than a week off in the past year. 64% of tradies report that taking time off over the Christmas period feels “near impossible.” 40% of tradies feel their business cannot operate without them. 38% cannot afford the cost of taking a holiday. 37% are concerned about losing clients if they take time off. 36% say they simply don’t have time to take leave. 26% need to reinvest their earnings back into their business, limiting their ability to take breaks. These findings highlight the immense pressure faced by tradies, who often find themselves caught in a cycle of constant work, with little opportunity to relax or recharge. However, according to Robert Tolliday, Chief Revenue Officer at hipages, there are a number of simple strategies that under-the-pump tradies can adopt to ensure they can take time off without compromising their business. One of the most effective strategies is to plan ahead. By scheduling time off well in advance and informing clients early, tradies can manage expectations and avoid the risk of losing business. Delegating tasks or working with trusted subcontractors can also ensure that the business continues to operate smoothly in their absence. Additionally, automating administrative tasks, such as invoicing and scheduling, can save time and allow for greater flexibility. Tolliday also recommends that tradies consider putting aside a portion of their earnings throughout the year for their holiday fund, helping to alleviate the financial pressures that come with taking time off. Investing in tools or systems that streamline business operations can also free up time, allowing tradies to step away without sacrificing their income. While the pressures facing Australia’s tradies are undeniable, adopting a proactive approach to managing workloads and planning for time off can help them achieve a healthier work-life balance. As the festive season approaches, it’s crucial that tradies take the time to rest, recharge, and spend quality time with family and friends – because a well-rested tradie is a more effective and happier tradie in the long run. The post Survey Reveals Why Tradie Business Owners Find It ‘Near Impossible’ to Take a Holiday appeared first on Small Business Connections.
The nation’s most successful and influential Asian-Australians are being recognised in the Asian-Australian Leadership Awards, – as they call out the barriers they face finding success in their chosen field. A survey of previous winners, over the last six years, has found 93% believed their Asian-Australian heritage has been a barrier to their success, while 81% said they’d been held back or overlooked for a promotion due to their cultural heritage. Asialink Chief Executive Martine Letts said it was disappointing such a bias against Asian-Austraians still existed in workplaces. “One in five people in Australia have an Asian cultural heritage, yet we do not see them equally represented in leadership roles in the workplace – only 3% of senior management positions are held by Asian-Australians,’’ Ms Letts said. The data also showed that while 83% aspired to take on a more senior leadership role at work, more than half said there weren’t any other Asian-Australians holding management roles in their workplace. “The Awards seek to reshape the debate and confront Australia’s ‘bamboo ceiling’ – the underrepresentation of Asian-Australians in leadership positions,” Ms Letts added. “It’s very difficult to break through that bamboo ceiling if your identity and cultural heritage hold you back from professional progression.” “Australian businesses are trying to be more culturally diverse, but we need more than just lip service. “Australian businesses are encouraged to take proactive steps to increase cultural diversity in their leadership, recognising it as both a social responsibility and a strategic advantage in an increasingly globalised economy. “The current lack of representation limits the diversity of thought and problem-solving capabilities and could also hinder companies’ ability to understand and navigate diverse business environments,” Ms Letts said. “The representation of culturally diverse leaders on ASX 300 boards and leadership teams remains alarmingly and disproportionately low,” said Sung Ho Lee partner, Johnson Partners – one of the region’s leading executive search firms. “We saw a similar trend with gender diversity at Board levels. In 2008, women used to occupy only 8% of Board seats across the ASX300. Today women now occupy 36% of ASX 300 board seats.” “I remain optimistic that we will start to see the needle move on this bamboo ceiling, once pressure from investors, regulators and broader stakeholders starts to gain traction,” he added. Ms Letts added: “The Awards shine a light on the incredible leadership talent and potential of Asian-Australians – but there is still a long way to go.” Asian-Australian Leadership Awards applicants are judged across 11 categories: Arts and Culture, Community and Advocacy, Corporate, Education, Entrepreneurship, Legal and Professions, Media, Public sector, Science and medicine, Sport, Under 25 Rising Star and Lifetime Achievement category. This year’s winners include: Lifetime Achievement Award: Foreign Minister, The Hon. Senator Penny Wong Senator Wong was born in the Malaysian state of Sabah and moved with her family to Adelaide in 1976 at the age of eight. Senator Wong has been re-elected to parliament four times between 2007 and now and has held several high profile portfolios including Minister for Climate Change and Water and Minister for Finance. In 2013 Senator Wong was elected Leader of the Government in the Senate and, after the change of government in 2013, became Leader of the Opposition in the Senate – the first woman to hold either of these roles. Overall Winner: Charlotte Young, 22 She co-founded the Australian National University Auslan Club, using her experience as a person with hearing loss to help drive change. The dancer and full-time university student works as an inclusivity consultant to national and international organisations including the Australian Government, UNICEF and the US Embassy. Under 25 Rising Star: Nathan Lee He’s passionate about creating equal opportunities for underserved communities. He co-founded an online community and platform, Stint, which supports over 3600 international students from 50 countries, in having a fair chance at a future working in Australia. Nathan is also the Director of Not-for-Profit EnAccess Maps, which helps users of mobility aids find accessible restaurants. Education, Science and Medicine Winner: Associate Professor Amirali Popat A Director of Research at the School of Pharmacy at the University of Queensland and is internationally renowned for his groundbreaking work in pharmaceutical sciences, particularly in 3D printed drug delivery systems and nanomedicine. Arts and Culture Winner: Victoria Falconer A cross-disciplinary performer, musical director, multi-instrumentalist, writer, composer and creative mentor, across cabaret, musical theatre and live music. Born in Australia, she is of Philippine and British heritage. This year’s Asian-Australian Leadership Awards will be announced at a gala dinner in Sydney on Thursday November 14. The Asian-Australian Leadership Awards, now in its sixth year, is an initiative of Asialink at the University of Melbourne and Executive Search firm Johnson Partners. The post Most Influential Asian-Australians Revealed, as ‘Bamboo Ceiling’ is Called Out appeared first on Small Business Connections.
Let’s face it – if you’ve been running a small business without a social media strategy, it’s time for a little reality check. Sure, posting the odd photo of your coffee break or the cat who just discovered your office chair is fun. But unless your business happens to be in the feline-themed pet furniture industry, that’s not going to cut it. Social media isn’t just a place to show off your lunch or boast about how much gym time you’re getting (we see you, gym selfies). For small businesses, it’s the digital equivalent of setting up shop in the busiest street of town, minus the expensive rent and traffic. Done right, social media can drive awareness, create loyal customers, and even build your brand into something your competitors are envious of. But before you dive in and start posting random thoughts about your day (we’ve all been there), let’s talk strategy. Why? Because a random scattergun approach might lead to lots of likes on your dog’s birthday video, but it’s unlikely to boost your bottom line. 1. Have a Plan (Even if It’s a Rough One) First things first – what’s your goal? Are you looking to drive more traffic to your website? Increase sales? Or just boost brand awareness so people start recognising your logo without the need for a magnifying glass? Without a clear objective, you might end up wandering aimlessly through the online wilderness, sharing posts that don’t really speak to your audience. Here’s the thing: social media success doesn’t happen by accident. Well, sometimes it does (we’ve all seen those random viral hits). But more often than not, it requires a little forethought. Map out your goals and create a plan to get there. You don’t need a 12-page strategy document; just a few key points to keep you on track. 2. Understand Your Audience (They’re Not Just Your Mates) If you think your target audience is everyone with a smartphone, think again. Just like you wouldn’t pitch your products to a room full of strangers at a party, you shouldn’t be aiming to reach anyone and everyone online. Define your ideal customers. What’s their age? Where do they hang out? What kind of content do they engage with? The more you understand them, the better you’ll be at crafting posts that actually resonate. Are they cat lovers, fitness fanatics, or fashion enthusiasts? Once you know who you’re talking to, you can tailor your content to speak directly to them – and perhaps even throw in a few cat memes for good measure. 3. Consistency is Key (But Not Spamming) You don’t need to post 15 times a day, but regular updates will keep your business in people’s minds. Whether it’s a helpful tip, a behind-the-scenes look at your operation, or just a good old-fashioned product promo, consistency is vital. But beware of the fine line between “consistent” and “spamming” – nobody wants their feed cluttered with posts every hour. 4. Engage, Don’t Just Broadcast Social media is a two-way street. It’s not just about posting your messages; it’s about engaging with your followers. Reply to comments, ask questions, and show your customers that you’re not a faceless brand, but a business that values their input. Bonus: engagement boosts your visibility, so don’t just sit there waiting for people to interact – make the first move. 5. Analyse and Adapt (It’s Not Always a Hit) The best thing about social media? It’s like a giant testing ground. You can quickly see what works, what doesn’t, and tweak accordingly. Keep an eye on your analytics. Which posts get the most engagement? Which days are you getting the most traffic? Learn from the numbers and adapt your content to improve. The Bottom Line If you’ve been treating social media as just a place to post random updates, it’s time for a rethink. A solid social media strategy can help your small business grow, build relationships with your audience, and increase sales. So go ahead, put down the cat memes (for now), and start plotting your path to social media success. With a little planning, some creativity, and a dash of consistency, your small business can go from being a quiet corner shop to the star of the social media world. And who knows? Maybe your cat will even get a starring role later on. The post Why Your Business’s Social Media Needs a Strategy, Not Just a Gen Z Intern appeared first on Small Business Connections.
As the value of the US dollar continues to surge, markets like Australia, are facing increasing risks that could reverberate across global economies. The rising USD, driven by looming policies under former President Trump, particularly his “America First” agenda, could significantly affect countries like Australia, which relies heavily on trade with Asia, especially China. With China’s currency weakening in response to potential US tariffs, and the dollar gaining strength, the Australian economy could be caught in the crossfire of a complex financial storm. Australia’s trade ties with China, its largest trading partner, and broader ties to the Asia-Pacific region, mean that fluctuations in the global currency and commodity markets could have a profound impact on the country’s economic stability. As emerging markets struggle with currency devaluations, inflation, and rising costs, Australia must prepare for a potential slowdown in demand for its exports, particularly in sectors reliant on Chinese growth. Emerging markets are teetering on the edge of a financial storm as Trump’s return to the White House is fuelling a massive dollar rally that could wreak havoc on developing economies. This is the warning from Nigel Green, CEO of deVere Group, one of the world’s largest independent financial advisory and asset management organizations, as the US dollar touched its strongest level in six months on Tuesday. The Dollar Index, which tracks the US currency against a basket of peers, was up 0.4% for the day. He says: “As the dollar strengthens on the back of looming Trump policies on Chinese imports, economies across Asia, Latin America, and beyond are staring down a wave of currency devaluations, inflation spikes, and economic instability. “Investors are already seeing echoes of 2016, but this time, the stakes are even higher.” Trump’s renewed America First agenda could mean unprecedented tariffs on China, potentially up to 60%. “Such heavy-duty tariffs would likely trigger a dramatic plunge in the renminbi, with devastating ripple effects across emerging markets,” notes the deVere CEO. “When China’s currency falls, it drags down other emerging market currencies with it, creating a domino effect of depreciations across the developing world. “For dollar-pegged economies like Argentina, Egypt, and Turkey, the fallout could be particularly catastrophic as they face the risk of explosive devaluations, uncontrollable inflation, and the threat of full-blown financial crises.” Emerging markets are also in the crosshairs of Trump’s trade policy. As the dollar continues its upward trajectory, emerging markets are bearing the brunt of this shift. With most global trade priced in dollars, these economies face rising costs for imports, skyrocketing inflation, and an increased burden on their dollar-denominated debt. “The challenge isn’t limited to just one region. Asian economies, Latin America, and African markets alike are vulnerable to currency plunges, inflation hikes, and investor flight if the dollar surge continues unabated,” observes Nigel Green. For commodity-exporting nations, a stronger dollar also spells weaker global demand, pushing commodity prices down and squeezing their economies even further. This scenario threatens everything from growth rates to employment stability across these markets. “Investors looking to emerging markets for growth may soon find themselves dealing with a drastically altered investment landscape as the dollar steamrolls through these fragile economies.” The effects of a dollar surge go beyond just currency devaluations. Local currency debt markets in emerging economies are facing mounting pressure as interest rates climb, driven by the global scramble to keep up with the appreciating dollar. The deVere CEO says: “As borrowing costs soar, these countries will be forced to choose between defending their currencies and sustaining growth—a dilemma that has the potential to destabilize economies in the process. “Without flexible exchange rates, these countries may see their economies hit hard by tightening financial conditions that they can no longer control.” For global investors, the implications are clear: emerging markets are poised for significant volatility as the dollar strengthens. “The next chapter of this economic story is starting, and for those prepared, it holds remarkable potential. “A well-positioned portfolio could leverage these shifts, unlocking new gains in a world where the dollar dictates the rules,” concludes Nigel Green. In the face of a stronger US dollar and a weakening Chinese yuan, Australia’s economy must navigate the uncertainty of global financial turbulence. While Australia’s close trade ties with China remain a key pillar of its economy, the ripple effects of these currency shifts—particularly on commodity prices and global demand—could pose significant challenges. As the value of the US dollar rises and Chinese economic activity slows, Australia may face lower export growth, higher import costs, and mounting pressure on its trade balance. With emerging markets across Asia and beyond already showing signs of strain, Australia will need to remain agile and strategic in managing these external risks, ensuring it can weather the storm and continue to thrive amidst global economic volatility. The post Trump’s Return: Rising USD and a Weakening Chinese Yuan Could be Australia’s Perfect Storm appeared first on Small Business Connections.
As Australia’s labor market continues to evolve, wages are rising at a notable pace, fueled by strong demand for skilled talent across various sectors. However, while pay increases are generally outpacing previous trends, there are emerging signs that the balance between wage growth and working hours is becoming increasingly complex. Reduced working hours, particularly for casual and part-time workers, are impacting overall earnings, despite wage increases aimed at staying competitive. In this environment, small and medium-sized enterprises (SMEs) are facing mounting pressures to adjust their operations and adapt to changing labor dynamics. Ben Thompson, Chief Economist at Employment Hero, delves into these trends and their implications for the broader economy. Ben Thompson, Chief Economist, Employment Hero says “Wages continue to rise at high rates. Employment Hero data shows wages grew 5% year-on-year, and 2.9% over the quarter, outpacing the ABS Wage Price Index’s 3.5% yearly increase. This is driven by strong demand for talent in sectors like construction and trades, where wages saw a notable 10% rise year-on-year. However, growth from September to October showed full-time wages remained flat (0%) month-on-month for the first time in over a year; something we will keep a very close eye on. Meanwhile, casual wages rose 4.3% year-on-year. Employment Hero’s data on quarterly wage growth in Healthcare/Community Services at 3.0% is significantly higher than the ABS data on Healthcare and social assistance at 1.7% Despite wage gains, reduced hours are complicating the outlook, particularly for casual and part-time roles dependent on shifts or overtime. Average hours worked fell 6.0% year-on-year nationwide, with South Australia experiencing a sharp 9.6% drop. For employees, this reduction means that while wages are increasing to stay competitive, fewer hours are cutting into actual take-home pay, especially in roles where stable hours are essential. This balancing act reflects the broader complexities of Australia’s labour market, as SMEs face rising wage pressures, adjusting hours to adapt to the cost of operating.” The post The Complexities of Wage Growth: What Rising Pay and Falling Hours Mean for Workers appeared first on Small Business Connections.
Running a small business, especially in the professional services world, can feel like juggling flaming swords while riding a unicycle. You’ve got client demands, overheads, staff wages, and then there’s that pesky thing called profit. But, how do you know what percentage of your income should go towards wages, rent, expenses, and—most importantly—your profits? Let’s break it down. 1. Profits: Aim for 20-30% of Your Revenue First things first—let’s talk about profits, the holy grail of any small business. If you’re not left with a little something after all the bills are paid, then what are you even doing this for? For most professional service businesses (think consulting, accounting, legal services, etc.), you should aim for a profit margin of 20-30%. This means that after you’ve covered wages, rent, expenses, and other outgoings, your profit should ideally be between 20% to 30% of your revenue. Why this matters: A healthy profit margin allows you to reinvest in your business, cover unexpected costs, and—crucially—reward yourself. Without a decent profit margin, you’ll just be spinning your wheels without growing. Aim to keep 20-30% of your revenue for profit, and your business will have the cushion it needs to weather the storm. 2. Wages: 30-50% of Your Revenue Should Go Here Next up: wages. You want your team to feel valued, but you don’t want to drain your business’s bank account just to keep everyone happy. As a small business owner, you need to balance fair compensation with profitability. For most professional services businesses, wages should make up 30-50% of your revenue, with most falling closer to the 40-45% range. Why this matters: Paying fair wages is important to keep your employees motivated and loyal. But if wages consume too much of your income, you’re left with no room to reinvest in your business or offer things like training, bonuses, or perks. Aim for that 30-50% and try to keep it on the lower side to allow for other growth investments. 3. Rent and Overheads: Cap at 10-15% of Your Revenue Ah, rent. It’s like that friend who shows up uninvited but you have to deal with them anyway. Whether you’re paying for office space or other physical premises, rent and overheads are going to be one of your biggest expenses. Typically, rent and overheads should consume no more than 10-15% of your revenue. Ideally, you want your office space and other expenses like utilities to fall within this range. Why this matters: If rent takes up too much of your income, you’ll have less room to cover wages or even invest in marketing and tech upgrades. Cap your rent and overheads at 10-15%, and look for more flexible, cost-effective options (like co-working spaces or virtual offices) if you’re spending too much. 4. Other Operational Expenses: Keep It 20-30% of Your Revenue Now let’s talk about all those other costs that don’t always show up on your “big ticket” items but can sneak up and steal your profits. These include marketing, software subscriptions, insurance, office supplies, and professional development. Other operational expenses should consume about 20-30% of your revenue. This includes everything from marketing budgets to office supplies. Why this matters: If you skimp on operational expenses, you might find yourself missing out on essential growth opportunities like marketing or training. But if you spend too much, you’ll cut into your profit. Keep it in the 20-30% range, and make sure you’re spending on things that really contribute to the growth of your business. 5. Cash Flow: The Rule You Can’t Ignore Here’s the golden rule that transcends all percentages: cash flow is king. Even if your profit margins are high, poor cash flow management can quickly cause your business to stumble. Cash flow keeps the business running smoothly day-to-day, allowing you to pay wages and cover expenses without any panicked calls to the bank. Ensure you have systems in place for regular invoicing, prompt payment collection, and savings for lean months. Even if you follow all the right percentage guidelines, bad cash flow can throw it all off. Conclusion: Finding the Sweet Spot for Your Small Business While these percentages might vary depending on your niche or stage of business, this is a good rule of thumb for most professional service businesses. Here’s a quick summary: Profits: Aim for 20-30% of your revenue. Wages: Keep it at 30-50%—but ideally closer to 40%. Rent and Overheads: Cap at 10-15% of revenue. Other Operational Expenses: Stay in the 20-30% range. If you keep these numbers in check, you can make informed decisions and avoid feeling like you’re constantly running on a financial treadmill. This way, your business will not only pay the bills but will also have the funds it needs to grow and expand. No more stressed-out nights over whether you can afford a new hire or that office coffee machine—you’ll have the financial freedom to thrive! The post What Percent of Your Revenue Should Go to Profits, Wages, and Rent? The Breakdown Every SMB Needs appeared first on Small Business Connections.
When you’re running a small business or a tight-knit team, hiring the right person feels like picking a new housemate. Sure, they seem great on paper, but could they leave dirty socks everywhere or, worse yet, drain all the fun out of the room? The problem is, some of the worst traits can be tricky to spot until it’s far too late. In the world of professional services roles—whether it’s accounting, consulting, or legal—you’re not just looking for skills; you’re hiring someone who’s going to work with your small team and (hopefully) make your life easier, not harder. So, let’s break down the hiring traits that might seem innocuous but can actually make a terrible hire, and some that are often overlooked but could be your team’s secret weapon. Red Flags You Might Miss (Until It’s Too Late) The “Too Confident for Comfort” Candidate We all love a confident person, right? But there’s a fine line between self-assurance and arrogance. A little confidence can be empowering; an excessive amount of it? Well, it often leads to the “I know everything” syndrome. People with this trait can be difficult to work with, refusing feedback, dismissing others’ opinions, and generally creating a “my way or the highway” atmosphere. In a small team, this kind of attitude can become toxic fast. Science Says: Studies show that high self-confidence can sometimes be correlated with narcissism, which can lead to poor team dynamics and conflict. It turns out that being too confident can blind people to their own limitations, which can be catastrophic when working in professional services, where collaboration is key. The “Excited but Unfocused” Candidate Ah, enthusiasm! A candidate with energy and passion is always a delight—at least until you realise their excitement is about 50 different things that have absolutely nothing to do with your business. When you’re in a small team, you need someone who can dive deep into the task at hand, not just bounce around like a puppy after a tennis ball. This scattershot approach to work can delay projects, frustrate colleagues, and result in a lack of tangible outcomes. Science Says: Research on focus and productivity shows that multitasking, or shifting from task to task without completing them, leads to lower performance. Enthusiasm is wonderful, but not if it’s spread thin across too many initiatives at once! The “Yes-Man” (Or Woman) It’s lovely to hear someone say “yes” all the time—until it means they never push back on bad ideas, take on too much work, or fail to think critically. The “Yes-Man” type often prioritises being liked over being honest, which can lead to unspoken frustrations and poor decision-making. In a small business, you need someone who will challenge ideas, not just nod along to everything you say. Science Says: Studies on organisational behaviour show that people who are overly agreeable tend to avoid conflict, which can lead to poor communication, missed opportunities for improvement, and overall dissatisfaction in the workplace. The “Always Busy” Worker (Who’s Actually Not That Productive) It’s easy to mistake someone who’s constantly “busy” for someone who’s truly productive. But if all their work involves looking frantic and typing at the speed of light without actually achieving much, you’ve got a problem. This type of employee is great at creating the illusion of work, but it’s the kind of “busy” that never really moves the needle. Science Says: Research from the Harvard Business Review shows that busy work can actually harm productivity because it’s often not aligned with high-priority tasks. In a small team, being “always busy” can hinder efficiency and morale. The Hidden Gems You Might Overlook (But Shouldn’t) The Quiet Listener The person who listens more than they talk might seem unassuming, but they could be the most valuable person in the room. In a small team, communication is key, and someone who knows how to listen, process, and then offer thoughtful input is worth their weight in gold. They tend to be problem solvers, sensitive to team dynamics, and often catch things others miss. Science Says: Studies have shown that listening is one of the most important traits in effective leadership and team collaboration. Being a good listener is linked to higher emotional intelligence, which is crucial for navigating professional services environments where empathy and understanding are essential. The “I’ll Do It Myself” Person (Within Reason) You know the type: they’re independent, self-motivated, and hate to ask for help unless absolutely necessary. It can be tempting to write this person off as “too stubborn,” but in reality, they are the ones who can get things done with minimal supervision. In a small team, you need people who can take ownership and follow through, without waiting for direction every five minutes. Science Says: Research on motivation suggests that autonomy is one of the top drivers of workplace satisfaction and productivity. People who take initiative and enjoy responsibility often have higher job satisfaction and are more effective in their roles. The “Calm Under Pressure” Candidate Every office has its crises, and in a small business, the pressure can feel even greater. A calm and collected person, who doesn’t fly off the handle at the first sign of stress, is a real gem. They can diffuse tense situations, lead with logic, and maintain a sense of stability that’s crucial when things go wrong. Science Says: Studies in psychology show that people with high emotional stability are better at handling stress, staying productive, and making rational decisions in tough situations. The “Improvement-Focused” Candidate You might overlook someone who’s always striving for self-improvement or keen on getting better at their job. This doesn’t necessarily mean they’re insecure or doubting their abilities—it means they’re open to feedback and growth. In a small business, you need people who can evolve with the company and adapt as things change. Science Says: Research on growth mindset (the belief that abilities can be developed) shows that people with this trait tend to be more resilient, adaptable, and ultimately more
Let’s face it: small businesses have it tough. You’re juggling a million tasks, and finding time to create fresh, engaging content feels impossible. Enter AI—a shiny, new tool promising to solve all your problems. It’ll generate blog posts, create ads, and even come up with catchy social media captions. It’s efficient, quick, and saves you time, but there’s one big problem: it can make your marketing sound like every other business out there. Worse, it might even make you sound like a middle-aged dad trying to be “hip.” And let’s be real, no one’s buying what you’re selling if you sound like a corporate robot. AI Doesn’t Do “Cool” – It Does “Corporate” AI is fantastic for certain tasks. It can crunch numbers, send out automated emails, and even make product recommendations. But when it comes to creativity? Let’s just say it’s like watching paint dry in an office cubicle. AI doesn’t have the soul or the nuance that makes your business unique. Instead, it relies on algorithms and patterns, which means the content it generates tends to sound as thrilling as a spreadsheet. So, what happens when AI takes over your marketing? Your blog posts, social media captions, and email newsletters all start to blend into one giant, beige blob. Words like “synergy,” “value-driven,” and “innovative solutions” begin popping up like they’re the hottest trends since “thinking outside the box.” Newsflash: they’re not. They’re the kind of phrases that make people roll their eyes and scroll past your content faster than they can say “unsubscribed.” The Boomer Effect: When AI Makes You Sound Like Your Dad Now, we all love a good dad joke—but that’s not exactly the vibe you want for your business marketing. However, AI has a unique talent for making your brand sound like it’s being run by someone who still thinks “on fleek” is the latest slang. And if you’re targeting a younger audience? Forget about it. You’ll be speaking in a language that’s more “Corporate 101” than “cool entrepreneur who gets it.” Imagine you’re trying to reach the trendy 20-somethings scrolling through Instagram. They’re after brands that feel fresh, relatable, and, let’s be honest, a little cheeky. But instead, AI might churn out a caption like: “We are a business that values exceptional customer service and quality products.” Cue the eye-roll. Does that sound like something you’d want to click on? Probably not. It’s stiff, lifeless, and—let’s be real—about as interesting as a wet dishcloth. Personality is the Secret Sauce, and AI Can’t Cook It When it comes to marketing, the real magic happens when your business has personality. Whether it’s a witty social media post, a cheeky email, or a brand story that makes people feel like they’re part of the family, authenticity is what truly engages your audience. AI can’t offer that. It’s a machine, after all. It doesn’t understand your brand’s unique voice, your sense of humour, or the tone that resonates with your specific customers. Sure, AI can create content—but it can’t think creatively. It doesn’t know your target audience the way you do. It doesn’t get that a perfectly timed meme could be the key to your next viral campaign. And it certainly doesn’t know that your brand’s personality is what sets you apart from every other small business out there. Use AI, but Don’t Let It Steal Your Soul Look, AI isn’t all bad. It’s a brilliant tool for automating tasks, managing customer queries, and saving you time. But when it comes to crafting your business’s voice, don’t let it take the wheel completely. Add your own creativity, your humour, and your heart. Because if your marketing sounds like a robot wrote it, you’re not just losing your edge—you’re losing your audience. AI can be a sidekick, but you’re the hero of your story. So, keep it around for the repetitive tasks, but don’t let it steal the spotlight. Your business deserves better than a one-size-fits-all marketing message. After all, who wants to sound like every other company out there? Not you, and definitely not your customers. The post AI & Marketing: The Danger of Sounding Like a Corporate Robot appeared first on Small Business Connections.
Leading business financing company OptiPay is warning of cash flow challenges ahead for Australian SMEs with many not having enough reserves to take them through the busy holiday season. “For many Australian businesses we’re coming into the busiest time of the year for orders particularly in the retail, hospitality, manufacturing and logistics industries,” says OptiPay CEO Angus Sedgwick. “For these businesses it’s essential that they maximise profits and return on investment at this time of the year but we’re finding many simply don’t have the right cash flow strategies in place to be able to cope with the holiday season,” he says. A recent CreditorWatch survey shows only 66% of small business owners are satisfied with their current level of working capital with many having to lay off staff to deal with cash flow and credit challenges. OptiPay has seen an 18% increase in requests for invoice financing as SMEs prepare for extra orders and demand heading into Christmas. “As the holiday rush approaches, companies need to ensure they have the necessary funding in place to meet this increased demand and continue to provide first class service to their customers. The Christmas cash flow crunch is real and there are some strategies that business owners should be thinking about now,” says Mr Sedgwick. Top tips for businesses preparing for the holiday season 1. Cash Flow Forecasting Forecasting your cash flow is essential especially when preparing for a busy period of growth such as Christmas. It’s vital to have a realistic forecast so you accurately estimate the cash you’ll need during the holiday season. Knowing when your cash inflow and outflow are the highest can help you set aside a cash buffer for when you need it. It is critical to recognise the difference between cash at bank and sales revenue, because if your business is selling your goods or service on credit terms, the cash from those sales may not be realised at bank for up to 90 days after the sale. 2. Funding Where is your extra capital coming from? With traditional financing options such as bank loans, lines of credit or business credit cards becoming harder to access in the current economic climate it’s crucial to think about this early. Alternative financing options such as invoice financing might be a better option for your business. Popular overseas, invoice financing allows businesses to be paid up to 90% of their outstanding invoice value upfront with funds accessible usually within 24 hours. When a customer pays and the funds are received by the debtor finance provider, they’ll remit the remaining 10% minus a small fee to compensate for early funding. 3. Inventory Management Make sure you don’t get overwhelmed as large orders start to mount up. Plan ahead with an inventory management plan to make sure you have enough stock or the ability to get more at short notice, whilst not sitting on obsolete stock. Inventory management is a critical component of cash flow management. 4. Cut Expenses Now is a good time to see if you can improve your cash flow by overhauling expenses. See if you can reduce outstanding invoices, negotiate better terms with suppliers or manage expenses more efficiently. Doing this audit now and freeing up working capital is also going to set you up better for success in the new year. “The Christmas holiday period can be an exciting time for businesses and a lucrative one but it’s vital that owners plan ahead and properly prepare for their funding needs,” says Mr Sedgwick. “You don’t want to find yourself in a Christmas cash flow crisis so make sure you’re one step ahead heading into the holiday season.” The post Cash Flow Challenges Hit Home for SMEs During the Holidays appeared first on Small Business Connections.