With risks come rewards. In this Knowledge Sharing Dinner our panel will help and challenge you to actively manage your business aaround known and unexpected risks.
Whether it be staff who make you want to tear your hair out; debtors who just won’t pay; damage to your brand from unhappy customers or natural disasters you simply couldn’t have predicted.
Our expert panel share their legal, financial and brand management expertise to help end your sleepless nights.
Meet the panel
Martin Cattach: Finance for Business
Working Capital Specialist
Interesting facts from Martin’s perspective
Why Australian SMEs fail A study by Australian Centre for Business Growth late last year revealed the following:
- 25% said this was due to lack of leadership, poor management, and/or no planning.
- 17% did not know how to or did not do enough market research, marketing, or sales.
- 14% did not understand finance, relied on someone else to assess the company’s financial health, did not have the necessary financial skills to manage the company, and did not know how to fund company growth.
- 13% did not anticipate the impact of externalities, were blindsided by issues such as fire, drought, interest rate changes, regulations, or global trends, and had no risk mitigation plan.
- 11% said poor governance structures, problems with partners or family members led to failure.
What Martin’s clients say
“Martin has been a huge help to our business, he is focused on outcomes which ensures you not only get great advice but there are practical solutions provided. He is trustworthy in that he is working on the best interest for you and your business. With his industry knowledge and understanding of how business operates, I would highly recommend Martin to be add value to finding financial business assistance.”
The key to risk management is to never put yourself in a position where you cannot live to fight another day
Jeanine Purdie: Business Credit Solutions
Debtor Management Specialist
Interesting facts from Jeanine’s perspective
The Financial Review reported on Monday 24 June, 2019 that $115 billion worth of invoices are not being paid to Australian businesses on time with obvious consequences.
In September 2019, 50% of respondents at a Creditor’s Watch webinar admitted to being affected by illegal “phoenix” activity in the past… ASIC/ATO describes “Illegal phoenix activity is where a new company is created to continue the business of an existing company that has been deliberately liquidated to avoid paying outstanding debts, including taxes, creditors and employee entitlements.” Annual direct impact of illegal phoenix activity is believed to be between $2.85 billion and $5.13 billion. (PwC 2019)
What Jeanine’s clients say
It was a pleasure dealing with Jeanine and the team at Business Credit Solutions and will use them again in the future. This was a hard and long case and we succeeded in then end. Thank you for all your help. Lindsay Green, Pure Fine Foods
shoulda, coulda, woulda…or the English pronunciation… Should have, could have, would have….All too often we look back at how things should have played out differently especially when our hard-earned cash is lost.
Harvey Bowlt: Bowlt Commercial Lawyers
Business Law Specialist
Interesting facts from Harvey’s perspective
A business risk is a future possibility that may prevent you from achieving a business goal. Most businesses would be surprised to know that at least 20 different types of risk have been identified in relation to running businesses of all sizes, ranging from the more obvious ones such as economic, cyber and legal risk to more subtle types of risk such as strategy, country or innovation risk. Larger businesses will be aware of most of the types of risk involved in running a large corporation, but smaller businesses often don’t have the resources to adequately identify and manage their risk. For example, many smaller businesses would not have considered the political risk relating to the recent federal election. Without doubt, the uncertainty surrounding any federal election makes consumers more cautious, but once the recent result was known, most businesses showed renewed activity, because there was some certainty in the political sphere, notwithstanding the looming possibility of a worldwide recession.
What Harvey’s clients say
Harvey helped me do a risk assessment for my company, as Spicy Web has grown so much so quickly. It was comforting having Harvey go over everything. He was precise and covered all aspects of the company. He made the process simple enough that as a busy business owner I didn’t feel overwhelmed.
The end result was a list of detailed recommendations that we are able to implement. Harvey has a wealth of experience and he also has an amazing way of making all our conversations enjoyable even though we are talking about legal services. Thanks Harvey- it’s always a pleasure working with you.
Tony Sambell – Spicy Web
Most businesses are “ too busy” to manage legal risk properly and then risk manage by crisis. Structured risk management is the key to success.
Peter Engelhardt: Plan2Brand
Interesting facts from Peter’s perspective
Have you switched to a different business as a result of poor customer service?
Businesses are losing $62 billion per year through poor customer service. That’s up $20 billion since 2013, just three years ago!
According to New Voice Media, 49% of American consumers reported switching businesses as a result of poor customer service, and of those, 67% switched more than once.
Another interesting stat was that the baby-boomer generation (55 or older) were least likely to switch, with only 27% indicating that they would switch as a result of poor service. Of the 25- to 34-year-olds, referred to as the millennial generation, 62% were willing to switch.
It’s not hard to figure out the implications of this. If you don’t provide a good customer service experience, someone else out there is going to gain half of your existing customers.
What Peter’s clients say
“This guy understands consumers, the science behind what builds great brands, and can systematically help people find their purpose and bring it to the forefront of their business through the medium we call brand.” Jack Delosa – founder of The Entourage and BRW Young Rich List Member
Bad customer service costs businesses $62 billion each year. No business can afford to underestimate the importance of quality customer care.
You’re probably aware that the success of your business lies in your ability to make your customers happy and to let them know that you care about their satisfaction. Especially if you’re a company in a saturated market, your customers have plenty of choices of who to do business with.
‘Personal service’ is the synergy of the customer support world. A buzzword used so often – by support agents, marketers, and customers – that has almost lost its meaning. Yet, it’s of great significance!
Meet the host
About the Author
CEO and Founder of Synergy48 Group
Brenda is an experienced small business owner. She has won an Australian Home Based Business of the Year Award, the My Business Magazine Best Start-up award and has also appeared in the Anthill Magazine top 100 Cool Companies and top 100 Innovative Businesses list. Brenda has an honours degree in organizational psychology and a Graduate Certificate in training and development and is an experienced trainer, facilitator and counsellor.
Brenda is a firm believer in mutual collaboration combined with a practical, hands on tools, strategies and systems as the most effective way to achieve real results in business.
Brenda is a sought after mentor, speaker and trainer in the areas of strategic alliances and joint ventures and networking with a twist. She is also passionate about actively giving back to the wider community. In addition to donating her speaking fees and a proportion of every SMART-Connect Alliance membership to provide microfinance to help women in Malawi to start their own small businesses, Brenda has also climbed the Himalayas to raise money for Kids Help Line and helped lay a pipeline to supply water to a remote village in Tanzania.