Inbound marketing: A new way of marketing

63 percent of businesses now report that generating traffic and leads is one of their top marketing challenges. A few decades ago, it was commonplace for consumers to rely on advertising that was sent to them — television and radio advertisements, physical mailers, and even billboards. In the early days of the Internet, marketers sought to replicate the […]

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TEC

Innovation and diversification: Lessons from REDARC

Anthony Kittel has taken REDARC Electronics from operating out of a tin shed to a multi-million dollar company with its own purpose-built advanced manufacturing facility. Purchasing the business and taking over as CEO and Managing Director in 1997 after its founder, Bob Mackie, sadly passed away, Anthony’s business journey is one of innovation, fast-paced growth […]

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How to receive feedback when in a senior position

As CEOs or managers, you can benefit from constructive feedback. Everyone has areas in which they need to improve, and listening to others can impart valuable information, even if it’s only regarding how others perceive them. Top leaders — those performing in the 83rd percentile — ask for feedback the most frequently. Upward feedback incorporates feedback from employees in managerial […]

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tec

Tips to better manage your email inbox

4.1 hours — that’s the amount of time the average person spends checking their work email every day. It’s easy to see why: email has essentially replaced many other methods of business communication. Rather than having face-to-face meetings or getting on the phone, we are now funnelling everything straight into our inboxes in an easily digested format. Email is essential, especially […]

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4 types of stress: Do you know what is causing yours?

Globalisation, managing a business in a VUCA environment, and an increased feeling of isolation have made being a CEO more difficult than ever. In fact, two-thirds of CEOs are currently struggling with stress and exhaustion. But they don’t have to be. CEOs need to work harder to rise above it, identify the cause of their stress, […]

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Staying relevant in a disrupted industry: Lessons from Eckersley Group

Businesses need to move with the times, something that Tom Eckersley quickly realised when he took over his father’s company, Eckersley Group, with his brother in 1991. Providing a broad range of printed materials to businesses across Australia, the introduction of the digital age has meant Tom’s had to update his product and service offering […]

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4 tips to running effective meetings

From stand-up scrums to sit-down sessions, meetings take up a large portion of time for any organisation. When managed effectively, a meeting is an opportunity to optimise business operations. But when managed poorly, meetings become disruptive and distracting. It’s estimated that $37 billion a year is wasted on meetings that are unnecessary — and meetings themselves can offer […]

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tec

Making decisions with disagreements

When it comes to business strategies and problem-solving, not everyone shares the same perspective. Before a decision can be made, it’s not uncommon for a disagreement to occur. As a leader, it’s your role to manage these disagreements without letting them disrupt the flow of your organisation. Sometimes, it’s not always important, or even possible, […]

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TEC

The art of defining a market for business: Lessons from Norwest Recruitment

60% of Australian small businesses will fail within the first three years. When polled, 44% of failed Australian businesses suffered from ‘poor strategic management’ and 40% ‘fell victim to inadequate cash flow.’ Many of these businesses failed not because of a lack of opportunity but because they were not able to properly define their market and execute related strategies. […]

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TEC

3 important considerations fuelling CEO decision-making today

At a recent TEC conference, over 300 members were asked about the biggest decision they’ve made in the last 90 days and the biggest one they will make in the coming 90 days. From the pool of answers, there were three topics that stood out most prominently. Download the e-book to receive actionable tips to […]

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The task of delegating tasks

Only 28% of businesses offer any training regarding delegation — even though half of them are concerned that delegation is not being handled effectively. For CEOs and managers, delegation skills are not optional. In fact, these are the only way to progress. The process of delegation is the process of prioritisation — letting go of tasks that you can allow […]

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CEO’s greatest barrier to innovation is time

TEC’s Confidence Index Report revealed that 35% of CEOs consider time as the major barrier to innovation. Time is a precious resource — it cannot be purchased, bartered, or sold. And this is especially problematic given that 52% of CEOs have cited new products or services as the centrepiece of their growth plans. To develop these […]

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tec

CEOs struggle to find the right skills and talent

With confidence in economic growth and stability rising, many CEOs are looking towards expansion. A problem arising, however, is a difficulty in finding talent. 63% of the CEOs polled in the Confidence Index Report (CIR) cited talent as a major issue impacting growth. Both political issues and the changing employment markets are creating challenges. As […]

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the executive connection

CEO confidence on Australia’s SME growth

TEC’s Confidence Index Report (CIR) paints an optimistic future for Australia’s businesses, even if there may be some challenges ahead. The CIR outlines not only some of the positive aspects of the Australian marketplace but also some of the most pressing issues CEOs must address if they are to succeed. With a well-developed strategy, business […]

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tec

How to unlock data in your business

Big data is currently a global industry worth an estimated $130.1 billion — and it’s expected to grow to more than $203 billion by 2020. Businesses in all industries have begun capturing and analysing large volumes of data to produce superior business outcomes, but not all businesses are using this data as effectively as they could. Businesses […]

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the executive connection

How to build a foundation for exponential business growth

Growth is a balancing act. Grow too quickly, and you run the risk of over-extending your organisation. Grow too slowly, and you may be eclipsed by the competition. Growth is critical for an organisation to survive, yet two-thirds of the fastest-growing companies will fail. This is because growth operates as an accelerator: all the positives and negatives of a business […]

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tec

How to manage your star employees

Employees are what drives a business — and that’s why businesses are always competing for the best talent. Industry professionals have estimated that up to 90% of an enterprise’s value is driven by its intellectual capital, but you don’t need to rely upon such abstract estimates. It’s already known that the average employee costs six to nine months of […]

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Most popular TEC articles so far in 2017

TEC’s blog is comprised of an extensive list of resources suited to the eyes of SME CEOs and executives. If you missed one of our weekly posts, below is a list of our top blog articles thus far in 2017.   1. The guide to organisational structures (flat vs hierarchical)  An organisation’s structure forms the very […]

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How to have difficult conversations with employees

How to have difficult conversations with employees

In an interview with 200 executives, it was discovered that 53% of executives admitted to avoiding difficult conversations because they felt they didn’t have the training or the experience to handle them. Of those who avoided conversations, 97% did so because of the stress that it caused them — and 80% were concerned that the conversation would escalate […]

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What makes a good mentor? Thoughts and ideas from Richard Appleby.

Here at TEC, we know just how important mentoring is. But, what truly makes a good mentor? TEC Chair Richard Appleby has written this piece for us to share his thoughts on the subject: In my experience, it's all too easy to have a mentoring relationship that ends up being a "nice chat" type format, […]

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The impact of Impostor Syndrome on CEOs

70% of millennials have impostor syndrome; it’s a growing trend in the modern world. First discovered in the 1970s, impostor syndrome is typified by a constant and persistent belief you are not as competent as you are believed to be. Understandably, impostor syndrome is most often found in those who have elevated or high-pressure positions: doctors, scientists, and, of […]

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How to outsmart your biases in business decision-making

Everyone has biases, from the newest entry-level employees to seasoned CEOs. It’s crucial that business leaders are aware of their biases. CEOs who are unaware of their own biases can easily encounter lost opportunities and devastating miscalculations. Remaining neutral is an active role that a leader has to take; it is something that takes hard work, self-awareness, and […]

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How to manage employee retention: Lessons from Marsh & Partners

More than 75% of the CEOs of Fortune 500 companies were promoted from inside of the organisation. Whether they were promoted on the basis of a family dynasty, through merit, or a combination of both, CEOs have an average of 16 years of experience within their organisation. In fact, approximately one-third of these CEOs are ‘lifers’ — individuals who […]

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How to successfully manage business mergers: Lessons from PwC

Between 70% to 90% of mergers and acquisitions will ultimately fail. Managing a business merger requires a delicate and experienced hand. Not only do you need to consider the direction and fundamentals of both organisations, but you also need to consider culture, strategy, and vision. Mergers tend to be particularly hard on staff members, both because […]

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Are you a manager or a leader? Three essential lessons from Inspire CA

A manager is someone who does exactly that — manages. They’re the people who give employees direction when they come to work every day. They answer questions, offer guidance and provide insights to help staff achieve goals. A leader, on the other hand, is someone different. Someone who is inspirational, passionate, innovative and empathetic. A […]

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