Business Management Advice

BUDGET 2021 – SECURING OUR RECOVERY

This time last year, the Budget dealt mainly with the Government’s economic response to the COVID-19 pandemic with support for business very much to the fore. In 2021, that focus has shifted to improving the wellbeing of New Zealanders and, in particular, those on the lowest incomes.

Cheques being phased out

All major banks will stop issuing and accepting cheques over the coming months. It is important your relevant staff and your customers are aware of the key dates.

Traps when buying a used car

While the process of buying a used car is usually completed without legal advice, it’s useful to refresh the checklist of the key points you should follow. This is particularly important if there is no intermediary overseeing the purchase.

Penalising R&M

Classifying expenditure as either deductible repairs and maintenance (R&M) or non-deductible capital expenditure is not clear cut. It is a question of fact and no two situations are the same. And while its advantageous from a tax perspective, when is it pushing ‘the line’ too far.

10 ways to lift your margin

There’s always room for improvement at the margin; small tweaks can massively boost your bottom line! How much extra would a 1% increase in gross margin give you?

The Five ‘A’s of Change - achieving continuous improvement

Covid has been a powerful catalyst for change. Going forward, how can we consciously use the process of change to continuously improve our business? Use the 5 ’A’s of Change: Awareness, Acceptance, Action, Accountability & Acknowledgement.

Why having a shareholders’ or partnership agreement is vital

Going into business with your brother, best mate, your parent or with business colleagues is exciting but also has the potential to end badly. An agreement in place at the outset helps identify all the worst-case scenarios so that should a dispute arise or the unexpected happen, you’ve already agreed on the best way to handle things. We share more here.

The importance of ‘reconciliation’

Reconciliation is a fundamental accounting process that ensures your financial records are accurate and complete. But it is surprising how many businesses do not undertake them. We share why this process is important and how it can help your business thrive.

The dangers of discounting

Offering a discount might seem like a great way to respond to a drop in sales, but it's a race to the bottom. Get in touch to discuss strategies to respond without discounting your product or service and maintaining your gross profit.

Time wasters to avoid

Struggling with disruptions, shifting priorities, and frustrating re-work? Streamline your processes and boost your efficiency. Here’s some thoughts on how.

Building a Better Business in 10 Steps

There’s no magic bullet to building a better business; it’s about taking small steps every day to get a bit better than the day before - it all adds up! Get in touch to find out more.

Setting sales targets

How do you set attainable sales targets in a crisis? We’ll talk you through your business aims, profit goals, and historic sales performance, to set targets that truly deliver on your goals.

Top tips for building a strong company culture

A strong company culture underpins all successful, resilient businesses. But how do you develop and maintain a good company culture? We share some This article has some top tips.

Managing debt in your small business

Debt is a business risk, but it is also a positive tool that is usually necessary to fund your growth. When debt levels grow, we can help you put a plan in place to manage it.

Negotiation essentials – what you need to know

Negotiation is part of business. Whether you’re the supplier or the buyer, it pays to know how to do it. The best negotiations result in a win for both parties – here are five important steps to help get you there.

Does your business have a CRM tool?

Having clean, up-to-date information and data about your customers is a vital part of running your business. But recording, tracking, and accessing this customer information can be tricky if you don’t have the right tools to get the job done.

Create a business plan in 10 steps

Your business plan is a roadmap for your business. Outline your vision, set goals, define funding and budget, forecast sales and cashflow, set timelines. Talk to us to create a watertight business plan.

Accounting for COVID-19

Some companies have implemented ‘alternative’ accounting methods to adjust their financial results for the impact of COVID-19.

Create a one-page business plan

Need to revisit your business plan? We can help guide you through the threats and opportunities that lie ahead, with sound financial management at the core of your plan.

The fundamentals of a business budget

We believe having a budget is essential for business success. Talk to us about creating a useful budget in your accounting software as a practical business management tool. We’d love to help you start planning for a great 2021 financial year!

Facing challenges? Change your mindset

In today's world, we are constantly having to tackle new things and learn new skills. It can be overwhelming,... if you let it. Next time you feel like saying ‘I can’t do it’, replace it with ‘I can’t do it, yet’.

Never has the entrepreneurial spirit had to burn brighter

They say never waste a good crisis… and, that if there is a better way to do something (think stale processes), find it now, when the fan is already covered in proverbial. 

Retention plans to keep customers happy and boost sales

With many businesses struggling to achieve pre-Covid sales levels, and the potential for unemployment to spawn a new breed of start-ups, having a customer retention plan has never been more important.

Reinventing your product and service offering post-Covid

How will you innovate, re-engineer, adapt or widen your lane post-Covid? From tech adoption to product development and blowing up stale processes; a crisis forces change. How are you innovating for your business recovery?

How business debt hibernation can help your business

Business debt hibernation is a government initiative that helps companies, trusts, and other business entities affected by COVID-19 to manage the debts they currently have.

How a SWOT analysis can help your business

The more you understand about your business, your market and your competitors, the better prepared you are. A simple SWOT analysis can be an invaluable tool in your strategic armoury.

Business sustainability in uncertain times

What could your business look like from here? Can you streamline your setup for smooth, secure online interaction? Talk to us about building sustainability in your business.

Business structure – is it right for our ‘new normal’?

The challenges surrounding our current business environment caused through the COVID-19 pandemic has made many owners question whether the structure of their business is still fit for purpose.

Ways to improve business performance

Here are 10 tips to improve your business performance. Eliminate distractions and bad customers, get a plan, use tech, deploy marketing and understand your business numbers. 

Getting ready for doing business in Level 3

The Government has clarified that most, but not all, businesses can start to open under Alert Level 3 from 11.59pm on Monday 27 April.

Plan now for your business continuity

Having a plan to deal with the fallout from the COVID-19 pandemic is going to be critical to business survival.

Humble Bees | Giving plastics the sting

Otago start-up Humble Bee is unlocking the secrets of a unique type of bee to tackle the global plastic pollution problem.

What are your numbers telling you? How to grow your business using your financials

Too many New Zealand business people are missing the potential to grow their business by not learning to understand what their numbers are telling them.

Understanding who your customers are is essential for your business

Knowing and understanding your customers is key to successful marketing and can give you a profitable advantage. Take some time now to understand your valued customers and you'll be more likely to attract more.

Set the right growth goals for your business this year

Got a plan for your business this year? We’ll help you pin down your goals and create a financial model that delivers the goods – both for the business and your own personal wealth.

Goldfields Jet | Striking gold year-round for seasonal tourism busines

Since 1991, Goldfields Jet has given hundreds of thousands of thrill seekers the ride of their lives on Central Otago’s Kawarau River, Staircase Rapids and Kawarau Gorge. Cam Jones had been working as a jetboat driver for the company since 2011, but in mid-2018, bought the business.

Why you must set SMART goals

“A goal should scare you a little and excite you a lot”. A SMART goal has five parameters; any goal (if you want to achieve it) must be Specific, Measurable, Achievable, Relevant and Time-bound. Need help resetting the goals in your Business Plan?

Do you have a client scheduling procedure?

Booking appointments is necessary in any business, but do you have an effective and organised process? 

Building a better business in 10 Steps

What are you doing to build yourself a more successful business? There’s no magic bullet, it’s about taking small steps every day to get a bit better than the day before - it all adds up.

How to regain control of your business

Not all business owners want to grow their business. Some may just want more control. After all, your business is there to serve you; you shouldn’t be a slave to it. So, how do you regain that much needed control?

What is influencer marketing?

With more choice than ever in consumer goods, brands are turning to individuals who promote to their large social media fan base. Called influencer marketers they may not be famous but have a huge online fan base.  

Insuring your business

When it comes to business, it’s better to be safe than sorry. Protecting your business with the right insurance policy can guard against risk and compensate for any losses. Have the right policies and review them annually.

What exactly is blockchain? What does cryptocurrency mean for my business?

Blockchain is like a block of strong boxes with glass fronts – the contents are visible but totally secure. 

Let’s talk fraud and internal controls

Fraud. It does happen, but there are ways your organisation can work to prevent it from occurring. Having good internal controls – policies and procedures that ensure the integrity of accounting and financial information – can reduce the opportunities for fraud to be committed.

Atlas Gentech & Simply Leasing | Driven by the deal, loving the success of what you do

With the US$151 million sale of their technology equipment group this year, Auckland businessmen 
Steve Moss, Alan Willett and Steve Varney (pictured), could justifiably call it a day. But the trio are still chasing deals; this time to build their next business Simply Leasing, in the rapidly growing equipment leasing market.