Don’t get me wrong here. ‘Mother hen’ is a reference used for any incumbent worker, both male and female, who have played a variety of roles within a business without a targeted skill set. Though they have been valuable in the initial stages of establishing the business through the entrepreneurial journey, the established business that is looking to grow and scale will no longer find this type of staff member effective or profitable.

A data-driven approach to business means using all that information to optimise existing business goals and investigate new possibilities. When a company is ‘data-driven’ they are making strategic decisions based on data analysis and interpretation of that data.

Inside this months’ small business tax update: What's changing on 1 July 2021, work from home expenses under scrutiny and the perils of browsing facebook, and how insurance proceeds are taxed.

In recent times, there have been many references to data being the 'new oil' that will drive economies as the most valuable resource in the world, including this headline that was published in The Economist back in 2017, “The world’s most valuable resource is no longer oil, but data.”

All revenue is equal, but some is more equal than others. The famous author George Orwell wrote this famous line in his novel Animal Farm - whilst he was better known for political and social commentary, his legacy has left businesses with a valuable business lesson.

May 2021 Small Business Tax Update: New lifetime director ID’s; The top 8 reasons why staff leave; Tax exemption for ‘granny flat’ arrangements; Your SMSF - when expenses and investments are not at arm’s length.