What 3 things Do You Need to Nail This Quarter

Hello, I’m Peter Towers, Managing Director of ESS Small Business and ESS BIZTOOLS.  Welcome to Empowering SMEs.

Directors of SME companies, business operators, committee members of not-for-profits, charities sporting and social organisations need to be able to write these three things down.

Have you formulated your plan for the next three months?  If not, let me help you.

Could it be?

• Developing a capital raising strategy:
  • Early Stage Innovation Company Capital Raising
  • Crowd Sourced Funding Equity Raising
  • Section 708 of the Corporations Act Capital Raising
  • Additional funding from the bank
• Implementing a notifiable data breach system under the Privacy Act.
• Developing a director’s skills’ matrix.
• Identifying potential new directors/committee members to be invited to join your board/committee?
• Improving your understanding of the directors/committee members’ personal responsibilities?
• Gaining a better appreciation of the “chair’s” role and responsibilities.
• Gaining an understanding of financial matters as they apply to your company/business/organisation:
  • Individual business unit’s Profit and Loss Accounts
  • Key Performance Indicators
  • Benchmarking
  • Budgets
  • Budget comparisons
  • Ratio Analysis
  • Source and Application of Funds
  • Balance Sheet Analysis
  • Debtors’ Days Outstanding
  • Stock Turn
• Understanding your company’s/organisation’s Workplace Health & Safety Code compliance requirements.
• Understanding your business’ social media strategy.
• Developing your elevator pitch.
• Developing your company’s/organisation’s Capability Statement.
• Understanding your company’s selling systems.
• Identification of the risks potentially affecting your company/organisation and the policies that have been implemented to protect the company/organisation.
• Evaluation of your competitors’ strengths and weaknesses.
• Improvements to your customer service.
• Communications with your shareholders/members.
• Understanding how Fair Work Australia operates.
• Reviewing your “people resources” strategies:
  • employment
  • induction
  • training
  • incidents
  • exit interviews
  • productivity
  • happiness
• Director’s performance, attitude, commitment.
• Chief Executive Officer:
  • appointment
  • expectations
  • communication
  • mentoring

These are some of the matters that will be discussed at the Corporate Governance Network which is a series of 8 x 90 – 120-minute workshop/webinars being presented in 2018/19.

For detailed information on the Corporate Governance Network, please logon to the ESS Small Business website – click Corporate Governance Learn More.

FREE article

Click here for a complimentary copy of Paper 006-080 – Characteristics of a Well Run Business”.

If you would like to have a discussion in relation to a specific issue, please send me an email peter@essbiztools.com.au or telephone me on 1800 232 088.