Effective management of cash-flow is a key issue for growing organisations. One of the most common downfalls of growing businesses is unexpectedly high running costs. What is important is not just the size of operating costs, but the cash-flows around it.
In order to stay in business, it’s important to have the fundamentals right. Managing the cash-flow of your business is a critical fundamental. Cash is literally the lifeblood of the business.
Could we see news headlines like this in a few years? Hard to believe with the current state of the construction industry, but we all know it is a cyclical business and for every upswing, there is a downswing.
The wife and I went to the Richie McCaw movie, “Chasing Great” last night with our 17 y.o. son. I am a huge admirer of what Richie has achieved in his career, but more importantly, how and why he has achieved it. It was interesting to gain a better understanding of what makes him tick. My…
In Seth Godin’s 2003 book called Purple Cow, he challenged businesses to stop playing safe by continuing to do what they have always done, or making small changes to existing product/service lines, and rather try more radical ideas to take a market by storm. The business world is a bit different now than in 2003,…
“People always go for the lowest price” is a comment I hear too often in the building trade. Is this true or just the perception of some builders? What do the facts say? In the BRANZ New House Owners Satisfaction Survey of 2013 the factors that lead someone choosing one builder over another were researched.…
I have a client who owns a small-ish building company in Auckland with about 10 team members, all up. Like a lot of builders he laments the lack of quality builders, has had a couple of his guys poached and another leave to start his own operation. Frustrated with advertisements that don’t get much response…
When selling services the key to achieving a better sales conversion rate of quality, profitable clients is to increase the level of trust that the prospect has in you. Lets face it, most trades businesses are service-based first and product-based second, despite what you may think. People do business with people that they know, like…
Many business owners hear and read about how systems are essential in business to help free up their time, but they are not sure where to start. I have put together a few thoughts about beginning to systemise a business that will help clarify your mind, if you are in the same position to those…
If I could have earned a dollar for every time I heard the plea, “I can’t find decent guys”, I would be a wealthy man. There is no doubt that the building booms in Auckland and Christchurch have lead to a major shortage of skilled staff and the years of low or no activity in…
Tomorrow is ANZAC Day. I will be taking my 96 year , WWII veteran father to the 11am parade and service at Silverdale RSA, as I have done for many years. The service will be predictable and even a bit boring, but it does serve to remind me of the sacrifice that many servicemen and…