What’s Keeping Businesses Owners Awake at Night?”

A great read in NZBusiness (October edition) was the article on “What’s Keeping Businesses Owners Awake at Night?”

The answer … dollars, people and marketing!

I highly recommend you read the entire article, but if you’re after a couple of condensed suggestions:

1)      Prepare well if you want access to funding. The more information you provide, the easier and quicker it will be to make a decision;

2)      Reducing debtors – use a strict follow-up regime or get money upfront. Ensure you get paid before you pay others to retain a health cashflow.

3)      The right staff – find ‘em, keep ‘em: establish they have the right attitude & values at the interview stage and have a comprehensive induction process. Have legal, up-to-date contracts in place + review performance regularly. Keep people informed.

4)      Being Able To Afford New Staff – analyse what you spend your time on then determine if you could generate more income if you weren’t spending time on some of the cheaper, low-end work;

5)      Discounters eventually go out of business – so don’t focus solely on price. Work out what adds value for your clients and demonstrate how you’re meeting their needs;

Trust all the above make sense. Now it’s about taking action on the above :)

Talk to you soon ….

 To succeed... You have to believe in something with such a passion that it becomes reality - Anita Roddick