Testing your weaknesses for a stronger business

Oliver Holcombe • May 12, 2021

The past 12 months have proven that in business as in life, there will always be factors out of our control. That’s why it’s important to put measures in place to manage the factors that you are in control of.

Many businesses have recently been given some strong lessons in where their vulnerabilities lie. Even if your business came through 2020 relatively unscathed it’s now a good time to think about these areas and put some measures in place to become more robust. While it can be difficult to protect your business against all of the potential unknowns out there, let’s look at some common risks and business weaknesses that you can address.

Disaster recovery plan

A disaster recovery plan (DRP) helps keep your business afloat and functioning well despite an emergency – whether it be through an information security risk, the loss of assets from a natural disaster such as bushfires, or even human error, such as deleting data.

These plans are quite often developed in the early days of a business and then kept in a drawer, only to be forgotten about in the day to day running of the business. While you shouldn’t need to consult the plan on a regular basis, it pays to re-familiarise yourself with it and if you don’t have one at all, now is the time to make one!

Interruptions to supply

Another area to investigate is your relationship with your suppliers. Are you reliant on particular suppliers or contractors? If so, you’re open to risk. What would happen if they are no longer able to supply to you because they cease their current services or their business folds?

Perhaps geographical instability or supply chain uncertainty could affect your supplier or contractor. The Global Supply Chain Risk Report found that increasingly buyer relationships are with suppliers located in high-risk countries. (i)

Assess and develop redundancies to ensure the continuation of a quality supply of the product or service. Figuring this out before an issue arises will mean you have options, should the situation unfortunately rise.

Client experience

You know your business back to front, but put yourself in the shoes of your customer. How do they access information about your business, where do they go for help and what potential roadblocks do they face in securing your services?

It’s worth testing every touch point your client makes with your business. Doing so will give you valuable insight into what their customer journey is like, whether it’s experienced in person, online, through support, accounts and day to day.

Mystery shoppers, a service often provided by market research organisations, are trained to report on what they find when doing an ‘audit’ of a business. You don’t necessarily need to hire a research company, a family member, friend or acquaintance could undertake the process. Perhaps they walked into the reception of your office and were ignored by your receptionist, or they had the door held open for them and were offered a friendly greeting. They may have had issues navigating your website or were left hanging on the phone for a long time. Their perspectives, as people with no vested interest in your organisation, are incredibly valuable.

Online assets

Don’t just focus on the external ‘face’ of your business though – you also should ensure that internal systems and intellectual property are protected. This has become increasingly difficult as the traditional work paradigm moves to remote work and flexible work arrangements. Penetration testing, or a pen test is where a simulated ‘cyberattack’ is performed so any weaknesses can be detected. Through this test you’ll find out how vulnerable your systems are to unauthorised hacks.

This preventative measure can save your business by establishing and strengthening security measures which ensure your continued service online, workflow within the business and client data management.

Reviewing where you are vulnerable and assessing which aspects of your business or processes can be improved is a worthwhile task for any business. Knowledge is power and identifying your weaknesses gives you the opportunity to address them and build a stronger foundation for business growth and success.

Do you know how your super is performing?

By Nikki Ashurst • November 2, 2026
Many Australians don't know how their super fund has performed or what it invests in. Are you one of them? Here's what to check and why it matters. Do you know how your super fund performed over the last two years? Many Australians don’t and are working towards their financial future without fully understanding one of their most important assets and without a clear plan for how their super may support them in retirement. That's not surprising, as many people view super as something that should run quietly in the background while they're busy with careers, families and everything else that life throws at them. But when you’re not sure what’s happening behind your balance, it’s harder to know whether you’re on track, whether your current approach reflects your goals or what opportunities might be available to help you make the most of what you’ve built so far. Your super isn't sitting in an account, it's invested Super is invested by a fund on your behalf across a mix of assets, with those investments working to grow your balance over time. Those include: Shares Ownership in Australian and international publicly listed companies. Their value can rise and fall, sometimes substantially over short periods but shares can provide capital growth over the long term. Property and infrastructure Real assets like office buildings, shopping centres, airports and energy networks. They can produce income and don't always behave in the same way as share markets, helping diversify investment holdings. Fixed interest and bonds Lending to governments and companies in return for interest. They can provide regular income and be steadier than shares, although returns and risk vary depending on the investment. Cash Generally, the most stable and lowest risk investment type. It can provide stability and faster access to money but typically offers lower longer term return potential. The investment option you choose determines the mix of assets held in your super based on your risk appetite. Most super funds offer options from conservative to high growth. If you’re young, a growth option with a higher exposure to growth assets like shares could offer higher returns over time – but it also comes with higher risk. As retirement nears, you might want to consider a more conservative approach with more defensive assets, like bonds for example to protect your savings. If you've never made a choice, you're probably in your fund's default option, which is designed to suit a broad membership. It’s worth knowing whether the mix you're in matches your circumstances and goals, including how far you are from retirement. Why performance alone is not a true comparison If you're thinking about how your super compares, returns are often where people start. The trouble is that a return figure means nothing without context: What it's being compared to Growth and conservative options invest differently and with different levels of risk. Compare like with like or the comparison may not be genuine. The comparison period A single year can be heavily influenced by short term market conditions. Super is measured in decades, so five, seven and ten year returns tell you far more about whether a fund is consistently doing its job, albeit not a predictor of future performance. Fees and tax Published returns should reflect investment fees, costs and tax but administration fees may be charged separately from your balance. Two funds quoting the same return can leave you in meaningfully different places once all fees are accounted for. Then there are the things that returns can't show you at all. For example, what insurance is attached to your account and what it's costing you, whether the fund offers guidance, tools and advice or simply sends a statement once a year. Another consideration maybe the level of support available when you need it. When comparing funds, it's worth looking at the full picture, including performance, fees, investment options, retirement support and member benefits. What today’s decisions mean tomorrow To understand how your super stacks up, start here: Find your investment option It's on your annual statement and in your online account. Look at what's in it Your fund publishes the asset allocation (shares, cash etc.) for each investment option. Check the long-term return for that option Focus on five and ten year returns, not just last year and compare them with equivalent options. Understand the total cost Add together administration fees, investment fees and insurance premiums as an annual dollar figure. Comparing super is about working out which option will perform best for you. Before you jump in, it’s worth understanding what's behind the numbers so you can make decisions based on more than a headline return. Knowing where you stand is the first step A super balance tells you where you are today. Understanding how your super is invested, how it compares and whether it's aligned with your goals helps show whether you're heading in the right direction. Source: MLC The information in this article does not take into account your objectives, needs and circumstances. We recommend that you obtain investment and taxation advice specific to your investment objectives, financial situation and particular needs before making any investment decision or acting on any of the information contained in this document. Subject to law, Capstone Financial Planning nor their directors, employees or authorised representatives gives any representation or warranty as to the reliability, accuracy or completeness of the information; or accepts any responsibility for any person acting, or refraining from acting, on the basis of the information contained in this document. Principal Wealth Management Pty Ltd trading as BMO Financial Solutions ABN 53 109 336 601 is a Corporate Authorised Representative (CAR 277821) of Capstone Financial Planning Pty Ltd ABN 24 093 733 969 Australian Financial Services Licence (AFSL) No. 223135.

The SMSF landscape is changing

By Jude Schofield • October 7, 2026
More Australians are choosing to take direct control of their retirement savings by establishing a self-managed super fund (SMSF) and according to the SMSF Association, Aussies now see their super as an important part of building and managing their overall wealth.