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Subscription Creep: How Complacency and a Changing Digital Landscape is Affecting the Bottom Line

This article has been guest written by Izaak Wicks, from The Dream Factory NZ. Izaak specialises in website creation and custom digital solutions for businesses....

5 Essential Reads for Business Owners

With many of our advisers coming from diverse business and corporate backgrounds, we asked a few of them to share their top must-read books for every business owner.Here are five essential reads recommended by our team, along with why they were chosen and how they influenced their approach to business....

How NZ Banks Can Better Understand Small Business Challenges and Opportunities

Banks heavily rely on traditional means to assess loan risk, often neglecting other useful metrics for assessing a business's healthPersonalised banking: Bank managers who know their clients and the intricacies of the business are now a rarityThere are significant opportunities for banks to champion small businesses, the end result strengthening the economy as a whole....

An Introduction to Exit & Succession Planning

Whether you're considering stepping back in the next five years or are looking to grow your business and secure its future, Exit and Succession Planning is a critical area deserving attention.Learn what exit & succession planning is, why it matters and 6 key steps for effective exit and succession planning....

Unlocking Success: Empowering Business Owners to Achieve More While Working Less

In the hustle and bustle of entrepreneurship, the idea of achieving exponential growth, soaring profits, and enhancing the value of your business while simultaneously reducing personal workload might sound like a pipe dream.Despite this, making that dream a reality is our passion. We empower small and medium-sized business owners to reach new heights of success, by working smarter, not harder. Here's three ways we implement this attitude within businesses....

Overcoming the 6 Challenges that test Nearly EVERY Business Owner

You're solving problems or bringing joy to people, all while being your own boss.You're enjoying the profits; reaping the rewards from your hard work.You're finally able to make a meaningful difference to something you've always been passionate about. ...

A Success Story of Horses and Engineering

Many of our clients are undergoing The BSP Advisory Business Success Programme, with the end goal of exiting their businesses more profitably.We already have a great success story on this scenario in our September post here.There are many other business owners on the programme are all about building a solid profitable foundation for today and increasing financial security and freedom.Having a profitable, systemised business means not only a better lifestyle for the owners, but also a better...

Keeping Your Business Afloat: Practical Tips to Prevent Insolvency

In the latest business statistics (Feb 2023), 63,192 businesses have ‘died’ this year, and 99% of these businesses have 0-5 employees. That is a lot of people who took a chance to realise their dream of being their own boss and somewhere along the line it went wrong. So, what can you do to ensure that you small business thrives?In this blog, I will explore some practical and positive tips that can help you safeguard your business against insolvency....

Are you building a business of value, or do you simply own a job?

Many entrepreneurs set out on their business journey with grand aspirations of creating a thriving enterprise that not only generates profit but also builds substantial value as an asset. However, for many, the reality can be quite different.The systems we implement with our business owner clients are specifically designed to address this disparity by delivering three critical outcomes:...

How a Cambridge NZ Couple Successfully Sold Their Business

I had the pleasure of talking with Toni and Keith Paton last week who successfully sold their business last year and have been enjoying retirement ever since.They had just returned from a motorhome trip around NZ and were excited to share their experience in selling the business.A key insight from this is that while Toni and Keith ran a successful business, it wasn't as prepared for sale as they initially believed.What started as a plan to sell the business turned into a succession planning prog...

Maximising Business Value for Exit: Upcoming Workshop

Held in association with Small Business New Zealand, we're hosting an insightful workshop titled "Maximising Business Value: Succession Planning & Exit Planning for Small - Medium Businesses".This event has been tailored to support you as a business owner in navigating through complex future planning scenarios and ensuring your enterprise is not just sustainable, but thriving....

When Life Throws Lemons at Your Business: Escaping the Negativity Spiral

They work hard day in and day out to ensure the success and well-being of both their lifestyle and their venture. However, despite their efforts, they often find themselves trapped in a loop of negative thinking, stress, and overwhelming emotions. Does this sound familiar? Perhaps it is negativity bias....

Fast 5: Mastering Cash Flow, the Lifeblood of Your Business

It's the heartbeat that keeps your operations running smoothly and allows for growth and opportunity. In this Fast 5, we'll explore five essential strategies to help you optimise your cash flow and ensure a healthy financial foundation for your business....

The Hidden Impact: How Stress Affects Your Business and What to Do About It

Running a business is an incredible journey, but it's not without its challenges. As a business owner, you carry a heavy load of responsibilities - managing finances, driving growth, leading teams, and making critical decisions. These demands can sometimes become overwhelming, leading to stress and anxiety that not only affect your personal well-being but also have a significant impact on your business.In this article, we will explore the hidden impact of stress and anxiety on you as a business ...

Succession Planning vs Exit Planning: Key Differences and How They Benefit Your Business

Exit planning is the process of planning for the eventual sale or transfer of a business whereas succession planning is the process of identifying and developing internal employees or family members to fill key leadership positions with the aim of taking over the business one day. Issues exist for both topics and expert guidance and advice is recommended....

The Positives of Working With a Business Advisor - Daniel's Story

Their passion is helping people discover their purpose and personality, putting it into a visual context so their clients can take themselves to market, achieve their goals, reach their customers and, ultimately, do what their business is built to do.Slaughterhaus specialises in design and brand strategy and brand identity, with projects ranging from small local businesses and restaurants through to large scale, national corporations working with clients throughout the world....

Leveraging Digital Marketing for Small Business Success in New Zealand

For small to medium sized businesses, if well executed, digital marketing is a tremendously cost-effective way to reach potential customers and build brand awareness.Digital marketing includes a range of tactics such as search engine optimisation (SEO), pay-per-click (PPC) advertising, content marketing, social media marketing, email marketing and mobile marketing to promote a business, its products or services, and engage with a target audience....

Who's your ideal customer? Knowing who they are can really help your bottom line.

Written by Simon Zust, BSP Advisor for the Canterbury Region....

Understanding Leadership to Grow a Successful Business

This extends to both executing quality leadership and fostering leadership development in your business....

Managing Succession in a Family Business – Challenges and Success

Either way, difficulties can arise during the transition and what starts out as a simple process can soon turn more challenging....

How much should I sell my business for and is it the right time?

At BSP Advisory we deal with many New Zealand businesses across a broad range of industries and one of the common questions we get is “How much should I sell my business for and when is the best time to sell?”...

How to acquire new clients and reduce acquisition costs

Without a cost-effective, monitored strategy, advertising budgets can be wasted and results versus planned growth forecasts can come up short!Here are 5 ways to get new business and reduce client acquisition costs....

Study Reveals Surprising Results After Interviewing 1500 NZ Business Owners

Business owners in New Zealand face a lot of issues on a daily basis, and some of those are out of their control such as labour availability, recruitment and inflationary pressures. The past years of Covid have also had a huge impact on business so we thought it was timely to check in with business owners about their current situation. Through this, we were a little surprised to discover that 51% identified that achieving work/life balance was the main thing they wished they could change in the...

A Must Read for Every New Zealand Business Owner Over 50!

There is no doubt that New Zealand business owners have been on a rollercoaster ride for the last 2 years with Covid. Throw the current recruiting issues and the effects of inflation into the mix and it’s no wonder there are a few sore heads. We don’t want to add more fat to the fire, however, recently released statistics are showing a trend that we feel you should know about, particularly if you are looking to exit your business at some point....

Will your business Thrive & Survive in 2023?

With high inflation, high interest rates and increasing wages, all signs point to 2023 being a year in recession. That said, sound preparation and strategies can do a lot to help offset the effects of any economic downturn. What should you be doing in your business right now to put your business in the strongest position possible to manage a recession? We asked several business experts from the BSP Advisory team for their advice:...