Nobody accidentally finds themselves on top of the mountain. You only get there by having a goal, working to a plan, and working hard to make it happen. Customer retention is a growth strategy. A KPMG study found that customer retention was businesses’ most important revenue driver. At the same time, Bain & Company calculated…
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Businesses can leverage ChatGPT, or similar language models, to enhance their operations and customer interactions. Here are some common use cases for businesses: Customer Support and Service: ChatGPT can be a virtual customer support agent to handle customer inquiries and provide assistance 24/7. It can answer frequently asked questions, troubleshoot issues, and provide relevant information…
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A 4-day workweek, where employees work the same number of hours but are condensed into four days instead of five, has gained popularity and is being experimented with by some companies and governments. There are several potential benefits associated with a 4-day workweek: Increased productivity: Employees may experience higher productivity and focus during their working…
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Studies have shown that art in the workplace provides big benefits to businesses including reducing stress at the office, increased creativity and productivity, enhanced employee morale, broadened appreciation of diversity, and encourages open dialogue. Most people connect with art as it touches a memory, or conjures up an image of a different time or place,…
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The formula for net worth/equity is assets less liabilities. The assets must be valued at market or realisable values. Periodically calculating the net worth of an individual, family, or company has the following benefits: Provide a simple snapshot of their ‘true wealth’ at a given time. Eliminates ‘fake wealth’, i.e. assets purchased/funded via debt (liabilities).…
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With rising interest rates and inflation out of control, businesses are under more stress than they have been for a long time. The worldwide increase in interest rates over the last nine months has been the biggest and fastest on record. Consequently, many businesses are oblivious that they will fail or close over the next…
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Subscription-based services have become the financial model of the decade for a reason. Why give ownership to a customer for a one-time fee when the same customer can pay you every month for life on a subscription. How much are you spending on subscriptions each year? If you don’t know the answer to this…
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Good money habits are small and boring but make a big difference over time. First, figure out what you want. Are you trying to: Buy a house? Clear debt? Save for a life event such as a wedding? Create an emergency fund? Pay off your mortgage? Once you know your goal(s) and your timeline, use…
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Whether you love or hate Christmas shopping, most of us are obligated to spend thousands each year on what ultimately leads to billions of tons of landfill the following year. And it’s not just Christmas. It’s the birthday of every kid in your child’s class. Easter, Halloween, Valentines, the list goes on. Endless consumption of…
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Small adjustments to our spending habits executed over our working life can have significant impacts on our retirement wealth, regardless of how little we earn. Take Susan for example who earns $750 per week. She rents an apartment in Perth and pays $400 per week in rent. She spends $200 on food and $150 on…
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"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"
- Bono: U2