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The Contradiction of Capacity and Flexibility

Jul 18, 2019

In business, we need both capacity and flexibility, but there are times when they just don’t mix.

Strategically in a serviced based business, we want to be highly productive and utilise the capacity we have available in the most efficient way possible to make the most revenue.

Whilst productivity at 75% or 80% sounds like there’s flexibility, the reality is that the other 20% to 25% is spent in admin tasks, internal meetings and a plethora of small tasks. And these aren’t considered specifically client delivery tasks.

Recently, I was asked to do some work which I knew would take me close to a day and a half. The challenge was that I already had work planned for the next day and then two full days of meetings. For me, there was no question about what to do.

The decision was simply to put off the work I’d planned for the next day and prioritise this new work. It needed to be done urgently and I would keep working until it was done, which on that particular...

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Break Even for Product Based Businesses

Jun 06, 2019

In a product business, you've got a more complicated calculation than service businesses. You probably know that, but the starting point for everyone is knowing how much money you need to pay your personal bills.

Starting off, looking at your home budget, how much money do you need to pay or contribute to the household costs? Rent, mortgage, fire, electricity, utilities. Internet, motor vehicles if they're not in the business, holidays, entertainment, food, that's an important one, and kid school fees, kids' clothing, extra curricular activities, holidays. Everything that you would normally spend at home, you need to work out what that is. If that's split amongst different members of the family, what your contribution needs to be for that.

If you're already drawing a particular set amount out of your business as a salary wage or drawings, depending on your business structure, that's great. But just double check that you have got the right number for the purposes of your household,...

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5 Tips to Deal with the Stress of Travel

May 15, 2019

I love to travel, and I’ll use any excuse to get on a plane.

So, if there’s an interesting conference in an overseas location or a speaking opportunity I’ll be itching to go, and even better when I have clients in far-flung locations around the world. And the sad thing is, it doesn’t even have to be an exotic location, although those are more interesting and fun.

OVER THE YEARS, I’VE TRAVELLED FREQUENTLY FOR BOTH BUSINESS AND PLEASURE, AND I’VE DEVELOPED MY FIVE MUST DO’S TO REDUCE STRESS FOR ANY TRIP I TAKE, WHICH ARE:

1. Arrive at the airport well before your departure time. I got caught out once arriving at a US airport for a domestic flight to Los Angeles with a connecting international flight back to Australia.

We arrived about an hour or so before the flight to find a very long queue for the check-in machines. By the time we got to them, it was just under an hour before we would travel, and we were told that because we were flying...

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