Running a business during an economic recession can be challenging, but with structured planning you can steer your business towards success even in tumultuous times. In this blog, the third in our sure up your revenue series, we explore four ways in which you can prepare and guide your business through a recession.
If there is ever a time you should be regularly focusing on your cash position, that time is right now! The way to do that is with a cashflow forecast. This will help you maintain visibility of your cashflow, bolster your cash confidence and ensure the stability of your business. Cashflow (not cash) is
Marketing is a great way to generate revenue (if you can convert the leads) but it needs to be considered alongside margin and productivity of your team. If you pour more dollars into marketing, generating more leads and ultimately more work, you create risk to your business in the following ways: Working harder for
Looking for someone to guide you on your business journey? The ideal person could be right under your nose! Your accountant could be the mentor you didn't know you needed. #businessadvice #SmallBusiness #mentoring Business mentors can provide guidance and support to help business owners make informed strategic decisions and stay
An outstanding company culture has arguably never been more crucial, especially in such a tight recruitment market. Research by SEEK suggests that more than 75% of Kiwis think workplace culture is "important", and two-thirds say they'd decline a job offer if they discovered the business had a poor culture. But how do you develop
The IRD introduced provisional tax to help individuals and organisations manage their tax obligations throughout the year rather than having to pay a lump sum at the end of the tax year. The amount you must pay, and when you need to pay, varies from person to person and business to business. To ensure
Small and medium-sized enterprises are the backbone of the New Zealand economy. But being a successful business owner is no mean feat. Starting and running an organisation requires hard work, dedication, resilience, and a healthy dose of self-confidence. Inevitably at some point, we all experience "a wobble" when self-doubt creeps
The software you use for accounts, sales, purchases, marketing, HR and other management processes (aka your "app stack") generates a goldmine of insightful data every day. The trick is to recognise and learn from those oh-so-important information nuggets. #digitaltransformation #businessdata How do you record, measure, and analyse the data being generated by your business?
Customers that stretch out how long it takes to settle their bills are costing you more than time and frustration. However, increased electronic connectivity between small businesses, accountants, and financial institutions coupled with cloud accounting and traditional methods can help your debtor management. As with any relationship, timely communication between creditors (suppliers) and debtors
How often do you get to the end of a work day and wonder where the time went? You barely dented your to-do list, let alone completed it. Delegation, either to internal team members or external contractors, is a great way to free up your precious diary space. But is it that simple?
