“Q: Why do I need an evolving strategy for my small business?” You’re a business owner or CEO. And that means it’s your responsibility to take care of the business, invest in the right places and make the company a success story. However, to do this, you need an agreed business strategy that lays out your goals, your mission and your plan for taking the company to the next level.… Read more
The new financial year is a new beginning. As a business owner this a great time for you to reflect on where you are at and think about your business goals for the financial year ahead. Setting goals is an essential part of personal and professional growth. These could be lofty goals, or even setting out a plan to achieve some more mundane (but equally important) projects. Whether that is… Read more
For centuries, accounting was all about reviewing historic information – but that only told you about the past, not what was going to happen in the future. If you’re only looking back at past periods and historic numbers, this limits the insights you can achieve for your business. With a backward-looking ideology, it becomes difficult to plan, run through different scenarios or understand the path of the business going forwards.… Read more
Is your team a cohesive unit? Enthusiastic, efficient, trained to deliver the best outcomes for your business and your customers? The cost of getting recruitment wrong may not be immediately apparent. It’s more likely to show as a slow burn for the business: High turnover burns up resources for advertising and the time taken for recruitment, induction and training. Dealing with unreliable employees is challenging. If not handled well it… Read more
The beginning of a new financial year is an excellent time to review last year and reflect on what worked, what didn’t, what you’d like to change and new things you want to implement. Take the time to review the year and acknowledge all that has happened, good, bad or indifferent. Examining the year with an objective perspective can provide valuable insights to prepare for the coming business year. Planning… Read more
What are the key performance indicators (KPIs) for your business? Your KPIs relate closely to your goals. To track performance against your business goals, you need to be able to measure them. KPIs need to mean something to you and your team. What about the conversion rate from quotes to sales? The average sale to new customers? The number of stock outages or complaint rate? Many businesses will monitor liquidity… Read more
Your people are one of the most critical elements in your business. But are you doing everything possible to provide a caring, supportive workplace that also drives the success of your business? In this series, we’ll look at some key ways to optimise your business, exploring different avenues to evolve your enterprise and create a legacy you can be proud of. Let’s look at ways to improve your employee experience… Read more
Our success in life depends largely on our mindset. Those who wait until conditions are perfect are unlikely to achieve their goals as they’re always waiting for the right time and never take that first step. There are three small words whose order can heavily influence the outcomes we achieve: be, do, and have. After deciding on your goals, the next step is to consider who you need to… Read more
The holiday season is a great time to highlight the year’s achievements. But with every Christmas party comes great responsibility for employers. Four top tips for ensuring a Christmas party is remembered for all the right reasons: Remind staff about drink-driving laws. Ensure that staff have a transport plan travelling to and from Christmas work events. Reiterate the rules about alcohol and company vehicles. Staff are under your watch. As an employer,… Read more
If you’re just starting a new business, or are taking your first steps towards hiring your first team members, being confident about your role as a new employer is essential. As your new business grows, you’ll inevitably need to expand your team – and this means taking on staff and becoming an employer. But are you ready for the tasks and responsibilities you have towards your new employees once you… Read more
Small and medium-sized enterprises (SMEs) make up 97% of all businesses in New Zealand. As the owner of an SME, you’re doing your bit to provide employment, aid the economy and put Aotearoa on the map in an increasingly globalised world. But running your own business can be incredibly stressful! New research from RFI Global research, commissioned by Prospa, shows that seven in ten New Zealand SMEs are feeling stressed… Read more
In a business, human capital is all the intangibles that people bring to the business, without which the business would be so much poorer. It’s the knowledge, skills, experience, attitudes, creativity, training and judgement that help a business grow and succeed. Human capital is the total capacity of the people in the business. It is another form of wealth directed to accomplish the business’ goals. Assess what risks might arise… Read more
Success in sport is all about playing your ‘A game’. Being the best you can be through preparation and training leading up to the game, as well as through your actions during and after the game – showing modesty and humility in success and graciousness in defeat. If everyone on the team plays their ‘A game’ the results are impressive. So, how do we apply the ‘A game’ mindset from… Read more
Have you ever found yourself struggling to achieve your goals because you just don’t have enough time to commit to them? Chances are, you’re doing things back to front. Rocks, Pebbles and Sand is a simple, yet crucial, planning concept depicting that we’ll achieve more if we set our annual goals (or ‘rocks’) first, then our 90-day goals (‘pebbles’) and actions (‘sand’). If we had a jar and first put… Read more
The importance of good governance is not disputed, what is less clear is how to achieve good governance. In the charity sector the requirement of Trusts to have independent trustees is to lesson the risk of a charity failing to deliver on their strategic purpose. A governance review can identify areas for improvement to help an organisation meet it’s compliance and reporting requirements while also driving… Read more
As a business owner, you’re the architect of your business’s vision and culture. But in the hustle to develop products, chase sales, and keep the lights on, some of the foundation often gets lost in the mix. Core values—those guiding principles that shape your company’s identity—are more than just words on a wall or a statement in a handbook. These aren’t just buzzwords to sprinkle throughout your website – your… Read more
When was the last time you felt that you had a week’s worth of energy to pour into just four days of work? As COVID-19 has reshaped our work-life balance and continues to redefine what is essential in our professional world, the concept of a shorter workweek is gaining traction. With proposed legislation in various states and countries, and the ongoing conversation among professionals, it’s evident that the discussion around… Read more
The new year is a new beginning. If you are a business owner, this is often the time of year when you reflect on where you are at and think about your business goals for the year ahead. Setting goals is an essential part of personal and professional growth. These could be lofty goals, or even setting out a business plan to achieve some more mundane (but equally important) projects.… Read more
Your team have a direct impact on the overall experience the business provides to its customers. A study by Glassdoor Economic Research reported that public companies named in a ‘Best Places to Work’ list in 2009 outperformed the Standard and Poor’s 500 by 115% over the next five years. It suggests a culture that engages and motivates employees helps the bottom line. Others have looked at business culture and long-term… Read more
Running a busy and successful business means you often don’t have the time to step back and work ON the business. This can be a challenge if your aim is to grow and scale the company. As experienced professional business advisers, we know the value of taking the time to ask yourself some pertinent questions. Holding yourself and the business to account is something we can help with. And there’s… Read more