It’s the start of the new year for business, the start of a new tax year, but even more important, the start of a new business year. While it is important to “re-set” your tax systems and tax plans for the year ahead, consider why you pay taxes. Taxes are paid on profits, and the ultimate tax plan is to simply make losses – however, not a great plan for your business and personal wealth! So, while we would all like to keep the Taxman at bay, ultimately the secret of your success is to make your business grow. It is an old adage: “businesses don’t plan to fail, they fail to plan”. Yet time and time again surveys show that fewer than 3 to 7% of small and medium businesses that fail have ever done any business planning. The start of a new business year is the best time to start a business plan. You can “close the books” and think about new initiatives and ideas about your business. It is the business equivalent of making your New Year resolutions, but with a better process that can lead to follow-through and...Read more
Your meeting should be an event that produces results or outcomes and not the "process of meeting." Things need to get accomplished. To improve the results of a meeting, begin by defining and improving the meeting process and people's commitments to it. According to a study by the University of Southern California in Los Angeles (as cited in Forbes, 10/25/93)Read more
- The average meeting takes place in the company conference room and 11 in the morning and lasts an hour and 30 minutes.
- It is attended by nine people -- two managers, four co-workers, two subordinates and one outsider -- who have received two hour prior notification
- It has no written agenda, and its purported purpose is complete only 50% of the time.
- A quarter of meeting participants complain they waste between 11 and 25 percent of the time discussing irrelevant issues
- A full third of them feel pressured to publicly espouse opinions with which they privately disagree. Another third feel they have minimal or no influence on the discussion
- Although 36% of meetings result in a "complete" resolution of the topic at hand, participants considered only one percent of those conclusions to be particularly creative.
- A whopping 63% of meeting...
Stephen Covey, author, personal and leadership development guru is coming to Perth for a seminar at Burswood on the 29th of May next week. For those of you who cannot attend and who have not read his books The 7 Habits of Highly Effective People, and Principle-Centred Leadership, I suggest you get those books and see how a business can be run effectively on core-principles. At OTS Management we believe in placing our core-values squarely in the centre of our planning and business decisions. Our Vision Statement drives our everyday behaviours, moulds our culture and provides the parameters for our long-term strategic planning as well as our annual business plans. When we facilitate planning projects for our clients we start with the end in mind and ensure that the client has an enunciated vision for the business and that it is quantifiable so that each goal and objective can be squarely measured as well as relate in a straight line from the vision those goals and objectives are designed to achieve. Our model is that, from the Vision comes clarity of action. Your planning project should:-Read more
- Clarify and Quantify...
Over the years, our client newsletter "The Square Orange" has received complimentary and flattering feedback. Our clients have forwarded it to their colleagues and friends, sharing information and ideas. As a result of this marvelous reception, we have had a major re-think and decided to make it available to the public as the OTS Management News-Weblog. We hope you will find it just as informative, and in its new public site, even more readily available to you and your friends. You can forward the URL (that's address of the website to the not-so computer literate) through some automatic links in your internet explorer by sending the page or the link by e-mail, or you can simply tell them to go to https://www.otsmanagement.com.au/blog and being on the web it is accessible at any time from any where. We will be posting entries every month so please add it to your favourites in your internet explorer or bookmark it. You can even subscribe to its feed by clicking on the link at the right. This will send you a quick email every time an article is posted so that you can...Read more