Leveraging Your IT To Grow & Protect Your Business

12/04/18 • 35 min

Check it out on Itunes | Stitcher
We have Leon Black, Director of Inspiration at Inspired Techs, in this episode of Get to the Contest Small Business Podcast. We talked about the Data Breech Legislation, using IT in your business and so much more. Here are some of the key takeaways from our talk with Leon:

Train your staff.
There are a lot of phishing and scams trolling around the internet these days. Attack via email is the most common phishing activity. The first step to combating these scams is to make sure your team is trained. It is your responsibility as a business owner to make sure your staff is aware of what phishing is and how to avoid it. Take time in training them and invest in learning more about multi-factor authentication. It is absolutely critical, particularly in a cloud based world, to be doing this to protect your and your clients' data.

Know about the Data Breach legislation.
There are laws to protect clients and consumers with regards to mismanagement of personal data and information entrusted to businesses. If your business does not take the extra measure of protecting clients’ data, this may cause a problem down the road.

IT is an investment not a cost.
Find an IT partner that will work with you strategically and will understand your business, and will ultimately align the technology with your business goals. IT services is more than fixing a slow computer, it is an investment vital to your business if you do it right.

Done is better than perfect.
Most people wait for the right time to present their product commercially. Tell you what, there is never a right time or the perfect product. Get out there and take the risk in launching your product. As time passes, you can work on improving your product rather than holding back and trying to create “perfection”.

Consistency is key.
With consistency, your clients always will know what to expect. If you can deliver consistently and all procedures are documented, your team members’ work flow will be much more efficient as well.

CHECK IT OUT! Leon Black shares the key book that has influenced his personal and business life. The book's title is TRACTION by Gino Wickman.

https://www.linkedin.com/in/leon-black/

https://www.facebook.com/inspiredtechs

https://twitter.com/Leon_Inspired

https://twitter.com/inspiredtechs

[email protected]

CHECK IT OUT! Leon Black shares the key book that has influenced his personal and business life. The book's title is TRACTION by Gino Wickman.

https://www.linkedin.com/in/leon-black/

https://www.facebook.com/inspiredtechs

https://twitter.com/Leon_Inspired

https://twitter.com/inspiredtechs

[email protected]

Previous Episode

What is an ERP and Does Your Business Need It?

Check it out on Itunes | Stitcher
What is an ERP and Does Your Business Need It?
On this episode of Get to the Contest Small Business Podcast, we are glad to have Andrew Tolhurst, Partner Manager at JCurve Solutions. We talked about ERP or Enterprise Resource Planning, business management software that brings all core business functions together. Find out how important this is especially for growing businesses by listening in this episode. But first, here are some key takeaways from my chat with Andrew:

ERP is all about getting more visibility, increased productivity and enabling your business to scale.
As your business grows, it is entirely possible that multiple systems will be used that do not integrate. An ERP helps in the management of the core business functions. This visibility over all areas of the business means management data is available to truly know the position of the business.

Do not throw labour at a problem.
One of ERP’s functions is to streamline tasks for a better efficiency and business flow. ERP will be the "One version of the truth" . When a business grows quickly often more & more Human Resources /Labour is used - often doing tasks that could be automated in a very manual, inefficient & expensive fashion . An ERP allows those businesses release employees from these low value task so they can instead focus on high value activity.

Get the team onboard.
Most people do not like change or disruption so it is important to motivate your team members and appoint a team leader or champion when implementing new systems. They will serve as the go-to person in educating the team about clearly explaining the timeline for the changes.

Being prepared is a key to success.
Be the most informed person in the room to avoid surprises. With enough preparation, you become more confident and in a position to respond to any client queries. This preparation give confidence and enhances your chance of successful business outcomes.

Don't try to do anything too much too fast, implement slowly.
Too much too fast doesn’t work. Have a plan, be deliberate around the focus or the areas that you're going to improve on and don’t try to do it all at once. Have a long-term plan and stick to it.

Next Episode

Depreciation and Rental Property

Check it out on Itunes | Stitcher
On this brand new episode of Get to the Contest Small Business Podcast, we are pleased to have Mark Wilkins, Managing Director of Capital Claims. We talked about depreciation that guide you through tax deductions on your property investments.
Here are some of the key takeaways from our talk with Mark:
Always ask the question when it comes to depreciation schedule. It could be worth thousands and thousands of dollars’ worth of tax deductions each year. Be aware and ask the questions to your advisers and accountants.
Capital Gains Misconception: Some people believe it is not worth claiming, as I will pay more tax at when I sell. Whilst most depreciation deductions are added to your capital gains on sale – the 50% CGT discounting & other concessions typically means you are a mile in front claiming depreciation along the way. This, plus the additional benefit of the time value of money means you will almost certainly be better off.
If you haven't even had a depreciation schedule, it's not too late. Amendment periods, depending on the type of tax payer you are, are typically between two and four years. If you're not sure, ask your accountant. We've had multiple cases where it's been missed earlier. We've been able to do amendments and its money in the bank for the taxpayer.
To run a successful business, it's about making sure you've got the systems and procedures all in place. A great team and the right platforms utilising cloud-based technology means you can scale & work from anywhere.
Lose your ego. Hire people that are better than you and be authentic. Don't be someone you're not and don't attempt to control everything.
Don't be intimidated. This is a lesson for small business owners. Get out there and back yourself because business is all about relationships and if you know your stuff & you're confident, you'll do a great job. You have the right to be competing with the big end of town.