Apr 16 2012

Core values and culture for tough economic times

Category: Cutlure,Financials,Growth — Stefan Kazakis @ 8:05 am

In tough economic times it is tempting to write concepts such as ‘value’ and ‘culture’ off as ‘added extras’. What you want is to be securing sales and guaranteeing profits – not wasting time on internal ‘feel good’ messages. Right? Wrong.

Business research evidence irrefutably proves that a strong work culture leads to superior performance, higher employee retention and a cohesive organisation. So in fact, tough times are when it is most important to focus on the core values and culture at your work place.

I have coached many businesses over the years and owned many myself. I understand that every company on a growth curve, every company that’s gaining sales and market share in multiples takes the time to set this very important foundation for predictable and profitable long term success.

My name is Stefan Kazakis and I’m the guy to call when you need to think BIG (ger)

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Feb 08 2012

The psychology of interest rates…

Category: Financials — Stefan Kazakis @ 9:39 am

Wow, the result that all reasonably adept ‘punters’ expected didn’t go the way the way they thought it would, in regards to an interest rate drop. It actually remained static so that we can see what happens around the world…

The fact remains for the millions of people who were anticipating since mid December that there were to be more decreases, more proof that the economy, the very large economy of a nation is going OK, is in the mere fact that interest rates have remained firm.

I urge you not to ‘kick the cat’ on the way to work, your business or whatever else you do in the world today because you weren’t provided for what would be an average of $60 a month savings if it did go the way it should have and decreased…

For most of us smaller Business owners, for most of us that have a mortgage, the psychology must stay strong to continue focusing on the things that you can actually control versus the things such as the massive economy of a nation that you cannot.

Stay on the ‘glass half full’ side… the show goes on long after the thrill of living has gone…

 

My name is Stefan Kazakis and I’m the guy to call when you need to think BIG(ger)

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Feb 01 2012

Common Sizing is not so common amongst the common…

Category: Financials,Leadership — Stefan Kazakis @ 9:18 am

As a business coach I can confidently compare business to business regardless of size and turnover to one thing – any number on your scoreboard as a percentage of sales. Known as Common Sizing > this is where you calculate all costs that arise in your business as a percentage of sales.

All costs should be confirmed as a percentage of sales.

This gives you an idea of how many sales you need to make before you start showing a profit. To do this, work out how much it costs you to run your business each week? You need to include all expenses, from wages to stationary, electricity bills to rent, anything that you have to pay to keep your doors open.

Then work out how many sales are needed to cover that cost before you start to see a profit. This may also tell you if your business has a chance of success, or if you’re really kidding yourself.

Many small business owners are reluctant to look at their scoreboard on a regular basis let alone getting to a deeper understanding of what is actually going on long after the ‘decisions’ in your business are made…. See once you know these numbers and in particular for the more ‘secretive’ business owners out there… using common sizing ensures that the dollar amounts are not the reference for conversation with your team.

Once you’ve identified this figure, explain to your team what is required to keep the business profitable. This will motivate them to increase sales and achieve their goals. Have faith it will!

 

My name is Stefan Kazakis and I’m the guy to call when you need to think BIG (ger)

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Jan 24 2012

THE ‘B’ word…and why it’s Hit and Miss…

Category: Financials,Growth — Stefan Kazakis @ 8:40 am

Entrepreneurs and budgets don’t always mix well.

The discipline to work to a budget required for financial success is sometimes fought with cost overruns in the pursuit of achieving the goal.

Budget overruns can create tension between entrepreneurs, their managers and their backers and so on… They should be avoided whenever possible. In my position as a business coach to business owners, the week to week reality of so many businesses not working to a strict defined budget is frightening. The most disturbing aspect of this observation is that once people understand the importance of a budget they commence a ‘slash and burn’ approach to how they make decisions on what is an expense and what is an investment. The challenge is that if you are not analysing your return on investment and believe everything is a cost you will be making some errors.

The key is that you must work to a budget that grows your business, not one that ‘starves’ it or makes it ‘fat’… Learn the fundamentals and the formula that ensures your business is growing, not dying every step of the way.

So are you hitting or missing the strategy for growth in alignment with your budget?

 

My name is Stefan Kazakis and I’m the guy to call when you need to think BIG (ger)

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Dec 07 2011

How good are you at…?

Category: Business Success,Financials — Stefan Kazakis @ 8:03 am

How good are you at turning Profits into Cash?

Interesting situation profit on paper and not in the bank…

Actually if you go to a restaurant tonight ask them if it’s ok to pay with your (paper) profit and not cash… it would be fairly predictable to see what happens…

Work harder on your Operating Cash flow… this is one of three key cash flows in any business… Yes even yours! You cannot spend your profits you can only spend your cash.

 

My name is Stefan Kazakis and business is an intellectual sport. Are you playing the game to WIN?

 

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