In our last post, we began to review 17 Essential Traits of Successful Entrepreneurs. Here we will continue looking at additional great tips from the TAB community, on what makes a business, and an owner, thrive. #8 Endurance in the face of adversity Successful...
While a great idea and some capital may be essential for a successful business, the most critical ingredient for a successful venture remains the entrepreneur. This is why many successful venture capitalists give more importance to the people behind the company than...
All businesses claim to value their employees and to be committed to a culture that recognises and rewards employee achievements. But success in this effort may be elusive, particularly if employers only half-heartedly embrace an “employee-centric” culture. By...
The Queensland Government has been rolling out various grants to help small businesses stay up and running following the effects of the pandemic. Though these grants are applicable to small businesses only, their eligibility criteria and the funds they provide make...
With the global outbreaks of COVID-19, came situations the world wasn’t prepared for. World leaders imposed nationwide lockdowns, flights came to an indefinite halt and the global workforce had to shift from working from their offices to work from their homes. ...
The Queensland Government has been rolling out various grants to support and fund small businesses, aiding them in growth and recovery - from losses caused by COVID-19. These include the Business Growth Fund Programme, Business Basics Grant Programme and the Small...
You may feel your business has reached a growth plateau. Where do you turn to help improve and better manage the business? Perhaps you consult family members, an accountant or lawyer—or worse—make important business decisions alone. An article by USA Today’s Ask an...
The Queensland Government has been rolling out grants to aid small businesses by providing financial and professional assistance wherever needed. Our team at The Alternative Board helps small businesses with grant applications and proposals, as well as investment...
Every business needs a competitive edge, whether it’s in the quality of their products or services, their dedication to customers, or some other aspect they can leverage to outdo their competitors. What many businesses may not recognise, however, is that their company...
Success doesn't happen by chance. Highly successful entrepreneurs share many habits, and they often incorporate small practices into their daily routine. We asked our TAB members what habits have served them well —and here's what helps them move toward their goals...
Among many things the COVID-19 pandemic changed in the world, the concept of business meetings has undergone a dramatic transformation. For many businesses, meetings that take place on Zoom or other online platforms have become the default choice of venue. For other...
Achieving business objectives occurs when plans, people, processes and systems are aligned Organisational culture is the framework for how things get done in your company. The best chance for you to achieve your business objectives occurs when plans, people, processes...
The Queensland Government has just rolled out the criteria for the Business Basics grant for small businesses. Earlier this month three grants were announced by the state government, the ‘Business Basics’ one has just been confirmed with some more information to make...
It can seem a great idea to start a business venture with your spouse or significant other. It enables you to work together to a common goal, share interest and enjoy profits together. But it can also go wrong. Recently, Bill and Melinda Gates announced their...
Terminating an employee isn’t something business owners and CEOs relish. When the situation demands some drastic action, however, it’s necessary to follow through for the good of the business. The unpleasantness takes on an added dimension when the person being...
We often hear stories about the difficulties of making a family business partnership successful. Yes, there are unique hurdles that differ from other types of business models, but with the right attitude and a sincere willingness to share in the...
The golden rule for the success of any family-owned business is to be transparent and have an open, honest, and straightforward line of communication. While communication is critical to the success of any organisation (or relationship), it is even more so in a family...
The Queensland Government has announced new small business grants that are open for application in the coming months. The Alternative Board facilitators can help with grant applications and proposals, so get in touch if you feel you need assistance. The Alternative...
With many family businesses, the time to think about succession planning starts on day one. Succession planning is optimising a business for the owner to exit it. Daniel Wong, owner of TAB Brisbane Inner North guides business owners looking to create succession plans....
Small business owners and CEOs have plenty to contend with as part of their normal daily operations. When the business is family-owned, a different crop of challenges may emerge. That’s because “the interconnected nature of family businesses means that family drama,...
Every business, no matter the format or industry, faces several challenges from time to time. There are problems related to securing capital, talent acquisition, team training, cash flow issues, increased competition, market fluctuations, consumer spending, and...
Balancing familial and business roles present unique challenges in every family business at times. These challenges can become awkward, and it is difficult to find advise on how to manage family business challenges as many business consultants tend to shy away from...
For many business owners, the first year of operations (or first five years) often presents the greatest challenges. Whether it’s fine-tuning and introducing new products or services, coping with elements of the competitive landscape, or simply finding new customers,...
Often in TAB board meetings, facilitators have heard comments like, "My sister wants to keep our company small and is fighting a controlled growth," or "Dad won't let go of the control," or "My brother and I are paid the same and he doesn't carry his weight." Family...
How a peer advisory board can benefit your business At The Alternative Board (TAB), we often hear from business owners who feel they can’t properly share the challenges they face as an owner with their friends, family, or even employees. We’ve heard many business...
Weekly, if not daily, the news is reporting on the latest data breach or ransomware attack against a major corporation, social media giant, hospital or other notable organisation in our communities. Just this week, it was reported that Australian hospital operator,...
Many Australian small businesses have been started up within families. There are many benefits to owning a family business, but there are also some drawbacks. Often working with family members can cause problems in a business if not done correctly. We recently...
Discover more by finding your nearest TAB Board facilitator.