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Follow what Brian, Kurt and Daniel have to say about topical news, industry trends and relevant aspects of day to day living.

Warning Signs

Bad ThinkingBankruptcy and corporate collapses were the highest ever recorded in Australia in 2012, with only 5% ever paying a dividend. On top of this many more businesses and individuals entered formal debt arrangements.

So what are the typical warning signs?

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Taxing the Family Home

Taxing the Family HomeIt's pretty much a standard understanding that you don't get taxed on the sale of your family home; the "main residence exemption" takes care of that.

Recent cases and ATO activity might call that into question though.

So how sure are you that you'll withstand a review by the ATO?

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Simplify Your Life - 60 Ways

We should all keep life simple. The old KISS principle (Keep It Simple, Silly) doesn't seem to get much of a run any more.
I came across a great list for exactly this.

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Shoot and Reload

I've just finished reading Killing Fairfax (review here). A very interesting chronicle of the demise of Fairfax; especially so for someone who grew up and got his professional start in print media, with a bit of ink still running in his veins.

And it has some excellent lessons for businesses that face pressures due to change.

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Sales are Down, but Profits go Up

Examining and restructuring your costs will ensure your business not only survives but thrives when sales slow down.

Consider these 3 simple cost saving strategies.

1. Income > expenses

Do you know your business' break even point? Break Even Analysis identifies the minimum sales you require to cover your "necessary" business expenses. It requires you to calculate your total fixed costs (ie. rent, interest etc), gross profit margin and then you 'sensitise' your sales to produce a break even result ($0 profit).

Once you have determined your break even point, be realistic in assessing your likely sales and recalculate your result as your gross profit margin fluctuates.

2. Reduce your fixed costs

Successful businesses have their cost structure weighted to variable costs (ie. low fixed costs). Activity Based Costing is a process that enables you to analyse and change your cost structure. For example, using contractors to provide non-core services to your business or outsourcing the distribution of your products (ie. freight) are examples of variable cost strategies.

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Leadership vs Management

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I've been going on a bit lately in my blogs about leadership. And I'd planned on making the one on Focus the final in the series. Then it occurred to me that we often think of leadership and management as being the same thing.

But they're not.

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Community

CrossFit I'm an avid Crossfitter, the intensive functional fitness regime (www.crossfitshoalhaven.com).

Some would say obsessive.

But a big part of what CrossFit is about is Community, and on the weekend while competing at Survival of the Fittest 3 in Nowra I really saw that at work.

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Your Challenge - save $15 a week

Your Challenge - save $15 a week

Sounds pretty easy doesn't it? Just save $15 a week.

If that's true, why aren't more people doing it, and getting the advantage in retirement?

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