Kestrel Solutions | Business consultant

Kestrel Solutions

Phone: +61 7 3232 5250

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22.01.2022 On the surface - this statement makes complete, logical sense. From a numbers perspective, it's an effective strategy to improve cash flow. However, as we all know - we are in the business of people, not just numbers.... It doesn't matter what business you're in - the value of your clients cannot be understated, they are the reason you are in business. Your suppliers are a key factor in delivering a solution to these clients. Each of these, with their own set of variables. So, while the goal is obviously to acquire revenue with more speed, and to have attractive terms for when you have to pay suppliers - always have clear communication so all parties are happy with the arrangement. If they are important to your business, then conversation is key - because while these stretch terms might feel good on paper, if it leads to disgruntled clients and suppliers because their own affairs have been sacrificed to please yours, it may not be a long term solution either. Food for thought, either way. By the way, I'm not saying don't push the envelope to make the situation work for you, it is just worth the extra conversation in determining that everyone is happy with the arrangement. Take care of others, and they will take care of you - that is the true nature of business.

21.01.2022 In 2022, we have a choice. If the last two years have taught us anything, it has been the ability to endure uncertainty. Next year, I want to challenge anyone reading this to flip the script. You've been strong to get here, now let's get even stronger to foster the courage we need to take bigger strides in a positive direction next year.

20.01.2022 We all know how it goes... As business owners, it's easy to spend a lot of our time in our heads, and convince ourselves that we are planning and strategising in that time. Don't get me wrong - thinking time is important, we can't be all action, all the time.... However, herein lies the problem. Most business owners will THINK in a linear fashion, and will often outthink themselves out of a true solution - flying by the seat of their pants, prescribing to the lie that more action is the solution, never mind that it may be in the wrong direction. Realistically, if you are part of a organisation or a business, organisation - a goal is just an idea, unless it is anchored to a plan that is actionable by the the group. Without a logical line of thinking, and documenting a plan - the goal just remains an idea, and the numbers our goals are tied to continue to fluctuate or plateau Before we become enamored with grandiose ideas and setting lofty expectations - we must create an actionable strategy relative to the business goals. Success occurs with proper planning, and it's what we pride ourselves on at Kestrel Solutions. Heading into the home stretch of FY 20/21 - what do you have planned and documented for the upcoming financial year?

18.01.2022 In the words of Michael Gerber - how can you perform Faster, Better, & Cheaper? Now, I want to highlight the word - BETTER. Don't make haste, and cut costs without the foresight of what value it will bring your business and your customers.... How often are you asking yourself these questions, and working ON the business? Daily? Weekly? Monthly? Quarterly? Annually? Let me know.

17.01.2022 Which rung are you on? Mitch & Fatti attend the Small Business Expo Gold Coast. If you’re on the Goldie, drop in and have a conversation.

16.01.2022 Many business owners are afraid to increase their prices, or charge a fair market rate. Yet every year, our experience grows, and our expenses increase - so why would our prices stay the same? This fear is largely from a lack of confidence in their offer, or their sales process.... However, sales are really just a conversation of identifying problems, and communicating the pathway for the solution. Educate your prospects, and position your offering with confidence, and you'll find your conversions and your bottom line increase quickly. Discover strengths and identify weaknesses to help you to drive sales by taking our free sales diagnostic here https://www.kestrelsolutions.com.au/business-performance-c/

12.01.2022 When navigating through the ebbs and flows of business, it can be tempting to reduce prices to get sales across the line, but it’s important to think about the long term effects of discounting. Business owners get trapped into thinking that it is a legitimate and profitable strategy, but rarely do they step back and truly understand the costs of this run-of-the-mill approach to winning new business. In reality, experience shows that most customers are attracted to a busines...s through discounting, rarely, if ever, come back again. When discounts are offered for no other reason than to boost sales it can deteriorate the standing that you hold with your customers, and ultimately bleeds all the way through your financials. The biggest risk is that it can eat into your operating profits, hurt cash flow, and create a negative long-term perception of a product and ultimately lead to a poorer market position, and ultimately, a worse cash position. As a business, if you discount by 50%, what does that do to your sales? It means that in order to hit your same revenue goal, you’re going to have to sell twice as much just to end up in the same spot. Do you have the time, capability, or resources to do that? You can’t discount yourself out of poor cash flow management.

10.01.2022 Kestrel Solutions stand at the Brisbane Small Business Expo

10.01.2022 Many businesses have gone broke although they were profitable on the books. Why? Simply, they ran out of cash.... No business has fallen into insolvency which has consistently generated net cash flow. That's why we preach cash is king, and we have multiple strategies that we use with clients to break free of their cash flow woes. Check out this free webinar we did with our friends at Strategic Business Development [no opt in required[ [WEBINAR] Cash is King https://www.youtube.com/watch?v=FVPipgLTf0k

09.01.2022 Business can be hard, and when business owners face challenges, it only seems natural to look for a coach. However, not all coaches are created equal. Even if they were, you need to find the right fit for your business, and the outcomes you are striving to achieve.... Too many times, people make their decisions from a place of convenience, and familiarity - however, when it comes to your business, and ultimately your livelihood - you can't afford to make that mistake. It needs to be treated like a legitimate hiring process. There are some common mistakes that business owners and managers make when hiring a coach that can significantly reduce the benefits of coaching. Specifically, these are: 1) Lack of clearly defined business outcomes 2) No selection criteria (or criteria that are poorly defined) 3) Rushing the hiring process. We discuss all three in more detail in this article; https://bit.ly/3tUszRX

08.01.2022 Do you feel like you get lost in the maze of too much information? In the business world, it feels like everyone has an opinion, and a lot of standard advice can be conflicting and/or outdated. We've been in the trenches for decades, and have the proven strategies to navigate even the stormiest of waters.... It all starts with finding clarity and identifying the right problems first. This is why we use a suite of diagnostic tools to evaluate true business performance. You can use it for free here; www.kestrelsolutions.com.au/business-performance-check/

07.01.2022 Sometimes business owners and become so enthralled with the X's, O's, and dollar signs of business growth - it can be years that our hobbies, interests, and time with loved ones can be sacrificed. Generating wealth and building a strong financial framework for your business and personal life is a noble goal, and should be high on everyone's list. Yes, there will be sacrifices along the way.... But let's not forget our lives are meant to be lived, and businesses built properly should provide a time leveraged schedule for the business owners and directors. For some of us, it can be as simple as a day on the green during the working week (if we choose to). Not saying that has to be everyone's goal - but let's entertain the question. If you had all of your ducks in the row, and the team was running the business efficiently, how would you spend a free morning?

05.01.2022 Something that may be a bit controversial out there, but I'm a firm believer that you need to spend time apart from your business, to truly give yourself the best chance to thrive when you're in it. Yes, there are moments and opportunities where we have to put in big weeks, and burn the midnight oil. But for this to be the norm, doesn't help anyone.... You will continue to project the past into the future, and experience varying levels of dealing with the same problems that you continue to create. Taking effective space, and working with experienced mentors and coaches to truly work through the situations and develop plans and action points to take your business to new heights. As Peter Drucker (The Effective Executive) famously says; "Follow effective action with quiet reflection. From the quiet reflection will come even more effective action." When you're at work - it's work. When you retire for the day, or for the week - it's time to reset. Let me know what you think.

05.01.2022 FACEBOOK LIVE // When to re-open & how do you decide?

03.01.2022 In the ebb and flow of business, sometimes it's hard for business owners to recognise the difference between a blip on the radar - par for the course of operating a business, and a true warning sign of imminent disaster. These typically fall under the main seven categories; 1. Management issues ... 2. Failure to respond to change 3. External constraints to growth 4. Overtrading 5. The Big Project 6. High Gearing 7. Undercapitalisation To get a more complete breakdown of each category, we have linked the full article here; http://bit.ly/3eKft5k We have seen too many business owners leave it too late, and many of them can be rectified with the right strategy and support time. Don't wait - get in touch with our team today (07) 3232 5250

01.01.2022 A great discussion from Clubs Queensland regarding the changes to Stage 3 Restrictions as of 12pm Friday 3 July 2020.

28.12.2021 In the world of business, there is a lot of uncertainty. The economy can change at a moment's notice, new technologies come out every day, and customer needs change with the wind. This makes it hard to plan for the future because you never know what kind of results you'll get from any given action.... However, there are layers that you can add into your strategy to help with this - particularly contingency and scenario planning. Contingency planning is the process of creating a backup plan in case your original plans fall through. It's usually used when you have limited time, limited resources, and limited flexibility. Scenario planning is a form of contingency planning that helps you to plan for multiple different outcomes at one time. Scenario planning has been especially prominent in the last 18-24 months as many businesses have been riding the rollercoaster of everchanging supply chain issues, and restrictions getting chopped and changed due to case numbers across the states, and country. While it seems that there is a light at the end of the tunnel with restrictions easing, and borders eventually opening - it's important to note that COVID is not the only potential disruption to your business. How deeply have you planned to mitigate risk, and maximise reward in 2022?

24.12.2021 PLANNING can be a beautiful thing. As we head into the final stretch of 2021, there is a good amount of optimism heading into the new year. Don't underestimate the lessons that have been served to us over the last two years. If you're still here and fighting, you have built resilience that may have not existed before. Resilience will take you through any curveballs life and business can throw at you. ... We've seen the world is not stationary, it's not perfect - but we can still approach and plan with strong intention and follow through to reach your goals. Find some time, and start putting pen to paper for projects you want to undertake ON your business to get you to the next level. If you don't know where to start, or lack clarity - please get in touch and we would love to help.

18.12.2021 Can you believe that we're in the home stretch of the year? How are your energy levels? Are you building momentum to finish the year, or counting down until you can "rest"?

28.11.2021 So whats the true cost of discounting? We’re confident in saying most businesses have offered a discount from a place of fear. It’s the default response when we’re trying to win new business. ... To make a proposal more attractive, and a last-ditch tactic to close the deal. Discounts have become a way of life in the Australian marketplace. Promotions arrive in your inbox offering discounts for every occasion, and we can get so obsessed with discounting that it becomes standard practice in our business. It’s easy to knock-off 10%, 15% or even 20% off the sales price. When navigating through the ups and downs of business, it can be tempting to reduce prices to get sales across the line, but as we’re going to discuss in this article, it’s important to think about the long term effects of discounting, and what factors to consider in making a decision. Discounting in business can be dangerous, because it is so common, business owners get trapped into thinking that it is a legitimate and profitable strategy. Rarely do they step back and truly understand the costs of this run-of-the-mill approach to winning new business. In reality, experience shows that most customers are attracted to a business through discounting, rarely, if ever, come back again. Value-minded consumers have long-term memories and it is hard to retain market-share when the economy recovers and you try to raise your prices or eliminate promotions. Consumers give you their hard-earned money in return for something that meets or exceeds their perceived value. Money represents perceived value. This should represent what it’s worth to the customer to have their problems solved, but it also needs to have healthy profit margins worked in there for the sustainability, and scalability of your business. Too often we think in the short term, and not the trickle down effect of our decisions. If you are struggling with your pricing strategy, or unsure in measures to take to profitably generate more sales, then please get in touch.

24.11.2021 put off doing it... Remember, goals are not plans, they are ideas. Goal setting itself is important - it’s incredibly important to create a North Star to orientate towards.... Without this we breed complacency and simply operate from a state of idly bobbing our head above water. However, the importance of setting goals pales in comparison to the art of strategic planning, and the science of executing it properly.

07.11.2021 If you're failing to plan, you're planning to fail. Preparation is key.

03.11.2021 Businesses typically don't fail overnight. Just like a business doesn't succeed overnight. It is the sum of many parts, and many deliberate decisions that build off each other.... Listen, in an ideal world, every business would be running to a plan, and making measured adjustments along the way - but we know that's just not the case. Many owners and directors don't act until it's too late, waiting for the market to take care of their problem for them. If your business is experiencing three of these problems, then it's time to take it seriously, or it could be a sign of much darker things to come. Decline in Sales - this is the first symptom. If your sales aren't measured and analysed to understand patterns outside of normal fluctuations, then this is a massive red flag. This is not just new sales, but also customer retention and re-engagement. Inadequate Cash Flow - With profits declining along with sales, cash flow will become tighter. Not only will it become increasingly difficult to pay suppliers, but also employees a less than ideal situation. This tends to have a domino effect throughout the business, as cost-cutting and a reduction in quality create a vicious cycle, that typically walks your customers into the arms of your competitors. Employee Motivation and Communication - Employees are the driving force that any business needs to satisfy customers. If employees lack the motivation and drive to serve customers and embrace their work, it becomes harder for the business to generate profits and ensure customer satisfaction. If a business is in trouble, identifying the factors causing stress and heeding the warning signs is critical. The most common ones are listed above, but any indication that business is declining can’t be ignored. And it may happen slowly, but it eventually does happen unless a plan is put in place. If you see the warning signs, we have multiple tools available for you to assess your business https://pos.li/2jlbxa Or, if you'd prefer a conversation, just get in touch.

01.11.2021 COVID hasn't just been tough on businesses, it's been tough on the people that drive them. While we absolutely support all measures to keep our communities safe, I think we can all agree, there is no supplement for true personal connection. That's why we're happy to get behind Community Club Awareness Week, from our good friends over at Clubs Queensland.... Long before the arrival of the digital age, community clubs were the cornerstone of society and played a critical role in delivering positive community health and wellbeing outcomes, and they still do. However, thanks to technology, social media, information overload, or our increasingly time-poor lives, studies show we are spending less time physically connecting to others in our community. Now is the time for a call to arms, for people to JOIN THE CLUB. Join your local community club and become part of the original, and most powerful, social network.

30.10.2021 Planning is important, but execution is vital. There is nothing worse than seeing businesses invest their resources into creating a master plan, just to see it thrown out the window at the first glimpse of a potential disruption. Overplanning and rigidity is just as damaging as not planning at all.... An average plan implemented, is better than a perfect plan left untouched. From the implementation, you can take the lessons - refine, review, adapt, and implement some more - creating a much more positive cycle of activity that will inevitably lead to growth. Do you have a plan? If so, HOW are you following it? Is it step by step, or more fluid in its roll out? Or, have you simply left it untouched as a saved document in your work files? Planning is important, but execution is vital. There is nothing worse than seeing businesses invest their resources into creating a master plan, just to see it thrown out the window at the first glimpse of a potential disruption. Overplanning and rigidity is just as damaging as not planning at all. An average plan implemented, is better than a perfect plan left untouched. From the implementation, you can take the lessons - refine, review, adapt, and implement some more - creating a much more positive cycle of activity that will inevitably lead to growth. Do you have a plan? If so, HOW are you following it? Is it step by step, or more fluid in its roll out? Or, have you simply left it untouched as a saved document in your work files?

20.10.2021 "The most useful form of patience is persistence. Patience implies waiting for things to improve on their own. Persistence implies keeping your head down and continuing to work when things take longer than you expect." - James Clear... To follow this, our decisions can’t always be from a place of holding good cards, but sometimes it needs to be from playing a poor hand well. There are two perspectives in the market right now... 1. Those that are frozen by the belief they don’t have the best cards in their hand 2. Those that are looking at the cards in their hands, putting a game plan together, adapting to the opportunity, and making it work. The question is, what perspective are you taking, and how do you shift from #1 to #2

14.10.2021 On the surface - this statement makes complete, logical sense. From a numbers perspective, it's an effective strategy to improve cash flow. However, as we all know - we are in the business of people, not just numbers.... It doesn't matter what business you're in - the value of your clients cannot be understated, they are the reason you are in business. Your suppliers are a key factor in delivering a solution to these clients. Each of these, with their own set of variables. So, while the goal is obviously to acquire revenue with more speed, and to have attractive terms for when you have to pay suppliers - always have clear communication so all parties are happy with the arrangement. If they are important to your business, then conversation is key - because while these stretch terms might feel good on paper, if it leads to disgruntled clients and suppliers because their own affairs have been sacrificed to please yours, it may not be a long term solution either. Food for thought, either way. By the way, I'm not saying don't push the envelope to make the situation work for you, it is just worth the extra conversation in determining that everyone is happy with the arrangement. Take care of others, and they will take care of you - that is the true nature of business.

27.09.2021 What gets measured, get's managed. This is why we provide a range of free business diagnostic tools on our website - so you can get an understanding of where you are, as well as gaining insight on taking the steps to where you need to be. Don't sprint in the wrong direction.... Check out our free range of tools here; https://www.kestrelsolutions.com.au/business-performance.../