With the rise of Uber and the sharing economy the status of workers has never been more relevant. We see a major push from businesses toward a flexible contractor based workforce. Whilst we share many of the commercial views that drive this push (e.g. flexible overheads, encouraging workforce participation and providing on-demand services), business owners must exercise caution not to incorrectly characterise a worker as a contractor when in fact they are an employee.
Congratulations to Hitch Advisory client Shootsta on their recent $1m capital raise.
Shootsta is the perfect mix of in house and outsourced video production. With clients like Qantas, Caltex, Adobe, Toyota and more. It’s clear that the future of digital content is firmly in Shootsta’s grip.
Recently, Solomon Lew’s Just Group commenced action against departed CFO Nicole Peck. Just Group is seeking an injunction to prevent Ms Peck working for competitor, Cotton On, for a period of 24 months. Just Group is arguing that it is likely to suffer loss and damage as a result of the potential disclosure of confidential Ms Peck holds, to the Cotton On Group. Most likely, Just Group will be seeking to rely on some form of restraint of trade clause. Read More
When it comes to navigating companies, it’s the directors at the helm. They call the shots, sign on the dotted lines and generally hold the decision making power. That power doesn’t come free of charge, as directors also have significant accountability and potential personal liability. Read More
“Number one, cash is king… number two, communicate… number three, buy or bury the competition” – Jack Welch, ex-CEO of General Electric, when asked about his keys to success. Read More
Branding is a task that’s found at the top of every new business owner’s ‘to-do list’. A well-crafted name/brand is one of the most important tools in the marketing toolkit. It’s usually the case that protecting your brand is found much further down your ‘to-do’ list, or not on the list at all. Read More
The most common method of valuing a small to medium business is Enterprise Value (EV). Enterprise Value is generally based on a multiple of your earnings. Read More
As a supplier of goods and services your Terms and Conditions (T&Cs) govern your relationship with your customer. Absent a clear set of T&Cs, if something goes wrong, you’re reliant on arguments of ‘he said, she said’ to prove your position. By putting in place clear terms and conditions you will achieve certainty as to your customers’ expectations. In addition, if you’re supplying on credit (i.e. allowing time to pay), then your terms and conditions will assert your right to be paid on time. Read More
Drop names like Putin and al-Assad in the same sentence and you’re sure to get a reaction regardless of the subject matter. This week we’ve seen Iceland’s Prime Minister resign and the Australian Taxation Office is reportedly investigating 800 high net-worth individuals as a result of the leaked ‘Panama Papers’. In their simplest form, the ‘Panama Papers’ are client files from a law firm who set-up business/wealth structures for wealthy and high profile clients. Read More
Treat your talent pool so well that your business can run without you on a day-to-day basis!
Key Person Dependency (KPD) is the notion of a business being reliant upon few key people. Commonly entrepreneurs and founders of successful businesses have had to do a huge amount of heavy lifting themselves to get the business off the ground…hats off to them for doing that! The problem is that those same successful people have trouble letting go of the control panel, resulting in KPD. Read More