Spot the Difference

Jacob Aldridge, about 1 year ago

  I was inspired for this week's email by a recent article by Shirlaws coach Nick Winton, which is the first link below and a must read for anybody who likes profit.Nick comments on the difficulty many businesses have understanding the difference between 'Profit' and 'Product Margin'. While it's related to the bottom line, it really has everything to do with meaningful strategy.Like any good 'Spot the Difference' puzzle, the key to noticing change is setting time aside for proper observation. Some business skills - like being able to read your financial reports - are important. The overarching tool we... Read More

Catalyst for Change

Jacob Aldridge, about 1 year ago

Business Coaching is difficult to explain in words - like in sports, a coach helps improve your skills, which for Shirlaws client is their skills in business. Sounds simple, but often prompts the question that if you are the one improving, the one changing themselves and their business, then why is a coach required, what value do they bring? In Chemistry, the Catalyst is a compound which is necessary for change to occur, but which is not changed itself. Without it - no reaction. And after the reaction has taken place - it can be removed, exactly the same, and yet... Read More

And Statistics

Jacob Aldridge, about 1 year ago

  At first glance, the difference between 99.9% and 100.4% seems minor, but when it's the Australian GDP figures for the March quarter that difference is newsworthy.Growth of 0.4% is hardly boom times, but it ensured Australia avoided the most popular definition of a technical Recession, and proved plenty of pundits - including yours truly - incorrect. It's also a reminder that statistics about the general economy may affect, but never control, the outcomes for any individual business.Take your business: Did you grow during the March Quarter? How is June looking?And importantly, how do you define Growth? Is it Turnover?... Read More