Vantage Performance Podcast

It’s almost two years since the Australian government introduced the Safe Harbour legislation, designed to provide protection for directors whilst they’re developing and executing a turnaround or restructuring plan, to greatly reduce the number of companies that enter Voluntary Administration or Liquidation. In this edition of the Vantage Performance Podcast, Phil Dobbie asks Michael Fingland, Vantage Performance’s CEO, whether the legislation has been a success, how it has changed behaviour and what changes he thinks could be made to improve on it.YouTube: https://www.youtube.com/c/MichaelFinglandLinkedin: http://linkedin.com/in/michael-fingland-34a09b3Website: https://www.vantageperformance.com.au/See omnystudio.com/listener for privacy information.

If your business is in trouble, and you fail to meet your obligations with your bank, you could face having your account moved to a workout banker. So, how does that change your relationship with your bank. Phil Dobbie talks to Matt Jesse in this edition of the Vantage Performance Podcast. Matt has 25 years’ experience in the turnaround industry – before joining Vantage Performance he was a workout banker with a major Australian bank. He describes what will be expected of you and how to ensure the relationship gets off on the right footing.YouTube: https://www.youtube.com/c/MichaelFinglandLinkedin: http://linkedin.com/in/michael-fingland-34a09b3Website: https://www.vantageperformance.com.au/See omnystudio.com/listener for privacy information.

The Queensland Government’s new licensing scheme for labour hire providers came into effect on 16 April 2018 requiring all labour hire providers to lodge a license application by 15 June 2018.The new laws have serious implications for all labour hire businesses, their clients and other stakeholders. Even if they have lodged their application, they may be denied a licence due to the stringent requirements that have been put in place. All applicants are required to meet mandatory standards to be fit and proper, complying with labour hire laws and being financially viable (ie. able to pay their employees and debts).In this podcast Michael Fingland talks to Phil Dobbie about the requirements to be met, the consequences of not meeting the test and what action should be taken if directors are uncertain if their application will be approved.YouTube: https://www.youtube.com/c/MichaelFinglandLinkedin: http://linkedin.com/in/michael-fingland-34a09b3Website: https://www.vantageperformance.com.au/See omnystudio.com/liste

In today’s podcast Michael Fingland, from Vantage Performance, says we need potential clients to have a clearer understanding of what the Turnaround Industry is. He says there needs to be a better global definition that will encourage directors to seek help earlier. He says, “It’s what every financier, government department, every bank, lawyer, accountants, wants … for their client to seek help and not just muddle through and hope they get it right.” Right now, though, the definition of the Turnaround industry is focused too much on helping companies out of insolvency. The new definition needs to encourage earlier intervention and can apply to companies that might be underperforming but are a long way from becoming insolvent.Listen to the podcast then see if you can help with a clear definition to the problem. Get in touch with your suggestions.YouTube: https://www.youtube.com/c/MichaelFinglandLinkedin: http://linkedin.com/in/michael-fingland-34a09b3Website: https://www.vantageperformance.com.au/See omnystud

The relationship with your bank is equally as important as with your clients and suppliers, says Vantage Performance’s Michael Fingland. In this podcast he talks Phil Dobbie through the five steps you should follow to improve your banking relationship:- Ensuring there are no surprises- Having strategic clarity- Providing financial visibility- Building familiarity with the management team- Develop a personal relationshipListen to the podcast to hear Michael expand on each of these ideas, and why a strong relationship is so important for any business, of any size.YouTube: https://www.youtube.com/c/MichaelFinglandLinkedin: http://linkedin.com/in/michael-fingland-34a09b3Website: https://www.vantageperformance.com.au/See omnystudio.com/listener for privacy information.

It’s been 6 months since the Australian parliament passed the Safe Harbour legislation, providing protection for directors from insolvent trading whilst they pursue a turnaround. In this podcast Phil Dobbie talks to Michael Fingland about how it’s working in practice, some interesting developments in the roll out and how it’s already starting to change director behaviour.YouTube: https://www.youtube.com/c/MichaelFinglandLinkedin: http://linkedin.com/in/michael-fingland-34a09b3Website: https://www.vantageperformance.com.au/See omnystudio.com/listener for privacy information.

How often have you tried to figure out what a company can do for you? They might list a series of product features and the benefits they can provide, but do they really explain the real outcome for you when you buy from, or engage with, that company?In this edition of the Vantage Performance Podcast Michael Fingland explains to Phil Dobbie the importance of selling the outcome – the elevator pitch that creates the emotional response that drives the prospect to seek out more about the services you offer. Listen to the podcast for more on how to arrive at the description of your company’s outcome, plus an example of how it has changed the pitch approach at Vantage Performance.YouTube: https://www.youtube.com/c/MichaelFinglandLinkedin: http://linkedin.com/in/michael-fingland-34a09b3Website: https://www.vantageperformance.com.au/See omnystudio.com/listener for privacy information.

The Net Promoter Score (NPS) is a survey tool used by many businesses – large and small – to measure customer satisfaction levels. In this edition of the Vantage Performance Podcast Michael Fingland explain to Phil Dobbie how the tool can also be used to value a business. It provides a useful snapshot of how valuable a customer base is – essential for companies looing to buy or sell a business.YouTube: https://www.youtube.com/c/MichaelFinglandLinkedin: http://linkedin.com/in/michael-fingland-34a09b3Website: https://www.vantageperformance.com.au/See omnystudio.com/listener for privacy information.

Michael Fingland, executive director and CEO of Vantage Performance, says you can't motivate people, instead create the right environment and people will motivate themselves. It’s the basis for creating high performance teams. In this edition of the Vantage Performance podcast he takes Phil Dobbie through the seven essentials.YouTube: https://www.youtube.com/c/MichaelFinglandLinkedin: http://linkedin.com/in/michael-fingland-34a09b3Website: https://www.vantageperformance.com.au/See omnystudio.com/listener for privacy information.

This week a significant step was made by Australian legislators, introducing a Safe Harbour provision for directors of companies that could be trading insolvent. The Treasury Laws Amendment (2017 Enterprise Incentives No 2) Bill 2017 enables directors to pursue reforms in their business rather than moving the company into administration. In this podcast Phil Dobbie discusses the legislation with Michael Fingland, Executive Director of business turnaround specialists Vantage Performance. They discuss how this new law will work in practice.YouTube: https://www.youtube.com/c/MichaelFinglandLinkedin: http://linkedin.com/in/michael-fingland-34a09b3Website: https://www.vantageperformance.com.au/See omnystudio.com/listener for privacy information.

When companies run into trouble they are often quick to lay off people to reduce the wages bill. But, as Michael Fingland explains to Phil Dobbie, this can be highly counterproductive – it upsets the company culture and you lose expertise that can be costly to recruit when the situation improves. This podcast covers over ways of reducing your wage costs, based on the outcomes of a brainstorming session from the Vantage Performance team.YouTube: https://www.youtube.com/c/MichaelFinglandLinkedin: http://linkedin.com/in/michael-fingland-34a09b3Website: https://www.vantageperformance.com.au/See omnystudio.com/listener for privacy information.

The end of financial year can be a traumatic time for any business. There’s paperwork to be done, stock to be shifted, reports to be developed and, perhaps, explanations for investors. It’s no surprise then that, in the midst of the mayhem, many companies fail to adequately plan for the next financial year. In this edition, Vantage Performance’s Michael Fingland tells Phil Dobbie that smart businesses will already have develop a corporate plan for the year ahead – but for those that pushed it aside for year-end work, it’s not too late to start now. In fact, it’s essential if you want to gain a competitive edge this financial year.YouTube: https://www.youtube.com/c/MichaelFinglandLinkedin: http://linkedin.com/in/michael-fingland-34a09b3Website: https://www.vantageperformance.com.au/See omnystudio.com/listener for privacy information.

New legislation is set to offer protection for directors who keep a struggling company trading, provided they demonstrate appropriate steps are being taken to restructure the business. Vantage Performance Executive Director Michael Fingland describes it as a game changer, that will save many businesses that might otherwise have been wound up. He says a 5-10 percent reduction in the rate of business failure could inject an extra $13 billion into the Australian economy. In this edition of the Vantage Performance Podcast he explains to Phil Dobbie how the new legislation will work, who will be involved and the impacts it will have. It’s worth spending 18 minutes to get across the detail.YouTube: https://www.youtube.com/c/MichaelFinglandLinkedin: http://linkedin.com/in/michael-fingland-34a09b3Website: https://www.vantageperformance.com.au/See omnystudio.com/listener for privacy information.

There’s a common misconception that companies facing troubles should avoid talking to their bank. The fear is that the sign of trouble could see the bank tightening the terms of a loan, or pulling the money altogether. Michael Finland, CEO of Vantage Performance says things have changed. He explains to Phil Dobbie how your bank’s relationship manager has every reason to help you resolve your problems. There’s a lot at stake, for both of you.YouTube: https://www.youtube.com/c/MichaelFinglandLinkedin: http://linkedin.com/in/michael-fingland-34a09b3Website: https://www.vantageperformance.com.au/See omnystudio.com/listener for privacy information.

Most companies have defined values, although they are not always understood or propagated through the business effectively. Sometimes their top down nature means there’s very little buy in from across the organisation. In this edition of the Vantage Performance podcast Michael Fingland suggests to Phil Dobbie that these values need to be determined by beliefs held by individuals within the company. A short workshop would be enough to gather a simple understanding of the way your staff think about things.YouTube: https://www.youtube.com/c/MichaelFinglandLinkedin: http://linkedin.com/in/michael-fingland-34a09b3Website: https://www.vantageperformance.com.au/See omnystudio.com/listener for privacy information.

Vantage Performance’s Michael Fingland says many businesses fail when their turnover is between the $15m to $50m mark. They might have survived to that point, but being a bigger business presents its own challenges. Phil Dobbie asks what are the warning signs that highlight the need for change and how do you plan for this critical period in your company’s life cycle?YouTube: https://www.youtube.com/c/MichaelFinglandLinkedin: http://linkedin.com/in/michael-fingland-34a09b3Website: https://www.vantageperformance.com.au/See omnystudio.com/listener for privacy information.

Part of the problem with business plans is, people don’t know how to write them, they put off doing them because they think it’ll take a long time and, if they do write one, they stick it in a drawer and never look at it again. Michael Fingland, CEO of Vantage Performance, tells Phil Dobbie that the traditional plan is dead. Instead you need a one page dashboard that everyone can work from.YouTube: https://www.youtube.com/c/MichaelFinglandLinkedin: http://linkedin.com/in/michael-fingland-34a09b3Website: https://www.vantageperformance.com.au/See omnystudio.com/listener for privacy information.

We know that 80 percent of businesses fail, often because early warning signs are ignored. In this edition of the Vantage Performance Podcast Michael Fingland tells Phil Dobbie how a lot of businesses could be saved if trusted peers helped steer business leaders in the right direction early on. Just as the RUOK campaign calls on you to ask your friends and family if they are suffering any mental hardship, asking colleagues the same question about their businesses could save a lot of financial and emotional hurt down the track.YouTube: https://www.youtube.com/c/MichaelFinglandLinkedin: http://linkedin.com/in/michael-fingland-34a09b3Website: https://www.vantageperformance.com.au/See omnystudio.com/listener for privacy information.

Most businesses start with a clear focus but, over time, the original vision that differentiated you in the market becomes a little fuzzy. In this edition Michael Fingland, CEO and founder of Vantage Performance, talks to Phil Dobbie about how to revisit the foundations of your company.YouTube: https://www.youtube.com/c/MichaelFinglandLinkedin: http://linkedin.com/in/michael-fingland-34a09b3Website: https://www.vantageperformance.com.au/See omnystudio.com/listener for privacy information.

When the economy is struggling there’s a temptation for businesses to take a pessimistic outlook, downscale and forecast lower sales. Yet, it doesn’t have to be that way. In this edition of The Vantage Performance Podcast, CEO and Executive Director Michael Fingland tells Phil Dobbie that more focus can drive better outcomes. He suggests companies struggling in a difficult economic climate should start by looking at the behaviour of their sales team.YouTube: https://www.youtube.com/c/MichaelFinglandLinkedin: http://linkedin.com/in/michael-fingland-34a09b3Website: https://www.vantageperformance.com.au/See omnystudio.com/listener for privacy information.