Does listening to music help you focus?
Things that should be on your radar this month 👀
1. Medibank is the latest Aussie business to be targeted by cybercriminals, and it’s raised questions about the rigour of the country's cybersecurity practices. Here’s how to protect your business from cybercrime.
2. The federal budget didn’t have much immediate support for small businesses, but plans to implement policies that address the skills shortage will benefit business owners in the long run.
3. A massive harbourfront business precinct in Sydney was given the green light this month, and it’s being hailed as Australia’s Silicon Valley.
4. The government has announced plans to crack down on Australian businesses that are avoiding tax.
5. Power prices are forecast to rise even higher over the next two years, and while there’s some talk of government intervention, it’s absolutely worth building higher energy costs into your cash flow forecast.
Tech recs to build authentic connections with colleagues and clients
🎥 JumpOn: This app gives your team access to always-on live video channels; perfect for remote teams who want to have an impromptu chat or who are missing watercooler convos.
🌮 Taco: Although the Project Alfred team is still small enough that hard work never goes unnoticed, we love the idea of using digital tokens (like a Taco) to recognise your colleagues who are doing a good job.
🗣 Videoask: Some things are just easier to explain through video, and this plugin lets you record a video and embed it almost anywhere to explain almost anything.
The highs 📈 and lows 📉 of small business life
📈 This month, Liam jumped on a flight to Fiji for a much-needed break. It’s one of the reasons we started our own business in the first place; the freedom to work where, when, and how we want to.
Liam only opened his laptop when he really wanted to though, which was made possible by having a reliable business partner in Amy. Essentially, it was a trip that reinforced everything good about being a business owner, and made us feel confident about the stage Project Alfred is at right now (plus, Liam had no complaints about the tropical beaches).
📉 We recently bit off a little more work than we could chew – we agreed to help with two major projects that were running simultaneously and underestimated how much work would go into both.
This meant we were under the pump for a few weeks, and spent quite a few late nights at our laptops (we even spent a Friday afternoon working instead of celebrating our week at the pub *faints*). We’re usually pretty good at setting expectations for our clients, but this last month taught us that we need to get better at setting our own expectations of how much work we can realistically manage while still looking after ourselves.
Productivity hacks 👩💻
- What music do you listen to when you need to concentrate? Apparently there’s a formula for the perfect focus playlist – a study found that both lo-fi and instrumental music improve memory and boost productivity. Our office playlist *almost* fits the brief; we’re usually listening to slightly more upbeat music from artists like Flume, Avicii, or ODESZA and we find the higher tempo keeps us motivated.
- With so much uncertainty in the market, it’s a good idea to think about overhauling your cash flow management. It’s one of those jobs that may take you a while now, but could save you a massive headache in the future. Start out simple by following these three tips, and call an accountant if you feel like you need a bit more help.
- This hack feels like a no brainer, but since trying this we’ve been *so* much more productive: If you’re struggling to stay motivated on a task, just move on to something else.
Finishing successive tasks builds momentum, and nine times out of 10 we’ve got the motivation to take on something larger once the ball is rolling. It’s a kind of productive procrastination that ends with you getting everything done – we highly recommend it!
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We were disappointed that we didn’t see more support for small business in the recent federal budget. While it’s great that there'll be some investment into mental health and wellbeing, we think it’s also important to address the root cause of why this investment is needed in the first place. In our circle of business owners, we know quite a few people who are feeling the pinch of rising costs, are having difficulty hiring, and needing to spend more time than ever on their business.
If you’re starting to feel the pressure from your business challenges, consider booking some time to have a comprehensive chat with your accountant. We know, they’re probably not top of your list of people to call when you’re feeling anxious, but they’re likely to have some practical steps you can take to alleviate some of that pressure.
That's just our two pennies' worth.
- Liam and Amy, co-founders of Project Alfred
(changing the way people think about accounting)
Recent issues
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We dive into the real-world impact of economic pressures on innovation, with the ABS revealing that a third of Australian businesses are grappling with funding for innovation. We highlight innovative solutions like the barter system at Tasmania's Timbre restaurant, which collaborates with local farms and community gardens to source fresh produce. Get the latest update on Guzman y Gomez's surprising IPO listing, explore funding opportunities for South Australian startups, and discover Google's new AI Accelerator program for Aussie startups.
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We look at the Startup Daily Best in Tech Awards, delve into the implications of the 2024 federal budget’s scant mention of startups and learn about Airwallex's recent financial dip. Celebrate Melodie's $1m funding success and discover how using the correct pronouns might boost your revenue by 7%. Explore exciting tools like Gamma for automated content creation, Calendly’s enhanced Chrome extension, and Google’s TextFX for creative AI prompts. Remember to attach PDFs to your Xero invoices for a productivity boost to reduce errors.
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We share insights on navigating startup funding challenges, learn about Anzac biscuit regulations, and find inspiration in the comeback of Milkrun and Voly founders. In our tech corner, explore cool tools like an AI-powered QR Code Generator and a lightning-fast website design platform. For a productivity boost, streamline your bill management by sending bills straight to Xero via email.
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As their public dispute goes nuclear, we’re diving into the fistfight between Employment Hero and Hostplus. We'll also examine the trials and tribulations of Australian SMES grappling with payroll errors, uncover the truth behind cashback rewards, celebrate Australia’s first tech unicorn in two years, and examine some of the latest startups that have raised money this month.
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We look at Hatch, a Gen Z jobs marketplace that has secured $7 million in seed funding to expand nationally, using AI to match candidates with roles based on skills and values. Plus, discover how Taylor Swift's concert at the MCG broke Melbourne's internet, insights on gender pay gaps from the Workplace Gender Equality Agency, and the latest advancements in AI with OpenAI's new system, Sora, generating short videos from text prompts.
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We’ve started the year at break-neck speed, onboarding two exciting new clients, growing the Project Alfred team, getting frustrated at the Australian government’s proposed changes to sophisticated investors, reading about Atlassian’s WFH 1000 days progress and exploring new startup blogs.
In our final 2023 newsletter we look at when to pay attention to your brand, the resurgence of startup funding, rebates for Sydney startups looking for office space and some potential relief on the cost of living.
Liam is participating in Movember and raising money for Beyond Blue to support their efforts in mental health awareness and support. Every donation made on Liam’s fundraising page will be matched by Project Alfred - so if you can afford it, we’d love you to contribute. … And a reminder: every donation is tax deductible!
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Christmas is around the corner, so notify your staff about leave requirements if you’re shutting down. We dive into the Australian funding scene with Employment Hero's impressive cap raise, making them a double unicorn. Learn from a costly lesson about keeping receipts, discover the inspiring journey of Vegemite and find out why work created by AI can't be copyrighted.
How one business has monetised ‘the meeting that could’ve been an email’, a business that has pivoted its offering as a result of the higher cost of living, a significant payroll underpayment issue making the news and the first ‘real’ holiday Liam has taken since starting Project Alfred.
How Barbie & the Matilda's have sparked equal pay discussions, small business grants in QLD, how Australia harnesses students' entrepreneurial spirits, marketing tech we're using, and our August highlights as we celebrate our 2nd birthday.
What direct-to-consumer startups can learn from Barbie, the Twitter rebrand that’s left question marks over our heads, tech to make travelling for work a breeze, our tip for surviving the second half of the year, and much more.
Some good economic news (finally), the hot new website everyone is talking about (ours, obviously), tried and tested website tech we swear by, a list of 20 small business EOFY tax tips, and much more.
An excellent opinion piece about why work from home is a good thing for society (despite what Elon Musk thinks), a desk setup that’ll make your colleagues green with envy, the TLDR on the PwC tax scandal, some EOFY spending advice we know some people need to hear, and much more.
There’s been a spike in company insolvencies that the AFR is describing as a “zombie apocalypse”, advice from HR experts on how to promote work-life balance in your team, a Slack feature we don’t think gets enough airtime, a monitor stand we’re drooling over, and much more.
The TLDR on the banking drama and how it could affect your business, exciting AI tools to keep your eye on this year, the businesses where the UK’s four-day workweek trial didn’t work, our non-negotiables when flying for work, and more.
Apps to boost your sleep skills (these do more than just fix dark circles under your eyes), mindset shifts to stop you feeling like you’re burning both cash and energy, and how to get excited about the next quarter.
An important reminder about what AI can and can’t do for your business, more reasons you should go paperless (and a stack of great resources to show you how), a workday lunch tip to get you away from your desk, advice on setting effective goals for business growth, and much more.
Our thoughts on work-life balance, projections for the tech industry in 2023, some AI tools (or toys) to play with over the break, highs and lows of the year that was, and more.
Tips for making the most of December (T-minus 21 working days ‘til Christmas 🤯), a step-by-step guide to registering for your company director ID, one of our favourite tech recs of 2022, an important cause close to our hearts that we’d love you to support (scroll to the end to find out how), and more.
How to protect your business from cybercrime, apps to build a connection with your colleagues and customers, the science behind the perfect productivity playlist, and more
Three tech recs that’ll make your life 10x easier, the impact of late invoices on your cash flow, the pros and cons of going to a conference, a massive shout out to our community, and more.
The technology shaping Australia’s future, Slack shortcuts we can’t live without, and tech recs to help you share your knowledge online.
Tips for hiring in a tough labour market, an ominous shift in pricing strategy for subscription models, and tech recs to help you grow your team.
Some new economic policies coming in on July 1, tech recs to help you celebrate (or survive) EOFY, and some tips for cultivating a growth mindset next financial year.
Some tips to help you focus, proposed policies on the horizon after the election, the crash of a not-so-stable stablecoin, a big debate we had on LinkedIn, and some tech recs that anyone who’s into design will love.
Did ASIC actually just kill off 'finfluencing’, ideas for designing your perfect work week, tech recs to level up virtual meetings and a sneak peek into the tech stack we use here at Project Alfred!
Tech recs and productivity hacks to help hybrid workplaces get the best of both worlds, our thoughts on the latest Federal Budget hot off the press and an audio book we’re loving right now.
High Court rulings around being an employee or an independent contractor, funding for Covid-affected businesses, great news about mental health support for small business owners, some new favourite tech finds, the Super Bowl…and we’re hiring!
22 things you should do to help your business in 2022, what records you need to keep and what you can let go of in the new year, why eating a frog is the best way to start your day, and some of our highs and lows from the last month.
How to stay on the ATO’s nice list this Christmas, our how-to guide for director IDs, small business trends for 2022, how to work smarter not harder, and some of our own recent business highs and lows.