Generate Blog

How to get more out of your work day

Being a small business owner is, for many, a hard slog. It feels as if there is never enough time in the day and there is always a fire or two to be fought with the result being many business owners end up feeling burnt out, stressed and miserable which can lead to  health issues and relationship drama. So, what can we do to resolve this?

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What are buyers of creative agencies looking for?

If there is one topic that sparks interest in owners of creative agencies it's how to get out of said agency. Some will want to talk about management buyouts because they have some gun managers with financial backing, but most of the time the exit plan revolves around finding a suitable buyer, getting cashed out and running for an island. Sounds great, right?

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Bringing foreign performers into Australia and unsure about the tax?

A common question we get asked here at Generate is this:

I'm bringing in a performer from overseas. How does the tax work?

Whilst this can become complicated quickly, the basic mechanics of how to deal with this are reasonably simple as I'll attempt to explain here!

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How profitable should your business be?

Something that crosses the mind of most, if not all, business owners is wondering how profitable should your business be. There's an old accountant's adage (I mean the adage is old, not the accountant) about how profitable a company should be. It's the rule of thirds and it describes how a company's revenue gets divided up. It says a third should go to direct costs, a third to overheads leaving a third in net profit for the business owner/s.

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Seven ways to give positive feedback that cuts through

It seems it’s human nature to hear criticism far more loudly than praise – and for that criticism to linger in the memory much longer than a compliment on a job well done.

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A practical guide to practicality

I was flattered recently when a client described my advice as 'practical'. He said he's been wary of engaging with consultants, as on previous interactions with them, he'd had useful conversations, but been left with no clear way forward.

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Scenario analysis and forecasting

Whilst there are some elements of knowing the future that would be best left unknown, I'm sure many of us would like to be able to accurately predict what the future of our business holds. What if I told you that you can do this? Scenario analysis and forecasting are tools that will enable you to predict the future with a reasonable level of accuracy. Whilst these two activities are largely the same thing - planning and predicting your business's financial future, we'll look at them separately here.

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Performance dashboards

Many business owners - especially those in the creative industries - drive their business by feel rather than by the numbers, and this is a risky proposition indeed especially for those heavily involved in the 'doing' of the business rather than the management side of things. That being said, many business owners find reading financial statements intimidating, if not outright boring. So, how do we resolve this problem? Dashboard reporting.

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Learning to drive your business by knowing the numbers.

When I was learning to drive, someone said to me, ‘There’s a tipping point where after loads of practice, you can suddenly drive the car. But up until then, the car drives you.’

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What is a high performance culture?

Many creative businesses, much like any professional service business, deliver results for their clients based on the hard work of their team. We don’t produce widgets that require manufacturing, or waffles that require waffling, we deliver results based on head hours worked by our brilliant team members.

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