Blog
WIN two free tickets to BUSINESS buddy’s cashflow management seminar
The BUSINESS buddies are so excited about our February seminar that we are giving away one double pass to help a local business keep the dollars running like a river, all year round.
Are you a business owner feeling financial squeeze this January? You are not alone.
Shipping Musts and Must-Nots
Online purchasing has not-so-slowly and very surely become the way people shop. It is efficient, convenient and best of all can be done without any concern for traffic or trying to find dreaded car-parking at a mall.
The Value of Workplace Training
Training in the workplace is a very valuable and important component of running a successful business.
The Five Elements of a Lean Business
If your business is doing well and you’re looking to expand, that can be a sign of success. However, moving to the next stage of business development can be a risky endeavour.
The Dance of Technology and Business
Conducting business is no longer as simple, and dare we say primitive, as being present in the store at the point of sale, making said sale, recording said sale and replenishing inventory stock – all in a very hands-on manner.
Make sure you don’t overlook this critical step in your employee onboarding process
So, you’re doing your homework on employee onboarding and preparing new starter kits infused with your company’s values. You also want to mastermind an onboarding process that even the tech giants would be proud of.
The Basics of a Good Business Plan
Business plans help define goals and help you achieve them. If you take time to set concrete and achievable goals, you can then chart a plan to reach these goals successfully. Having tangible goals can make a business thrive.
Dear Santa
You’re never too old to write to the dude in the big red suit and the BUSINESS buddies have scribed their wish list for something special they would like to find under the tree.
Of course, they are trying very hard to be good right up until Christmas Eve, which is more of a challenge for some buddies than others.
Money, money, money
Loot, dosh, cash, dollars, money, moola, coin… call it what you will but when there’s none in your pocket and none in the bank, it means one word – trouble.
The holiday season is a time when many businesses find cashflow diminishes to a trickle and it is the perfect occasion for BUSINESS buddy to advise entrepreneurs on how to unblock the dam.
Happy Customers, Thriving Company: The Role of Inventory Management
If there were no customers, there would be no business. And with no business, there is no income. So, it would be safe to summarise that customers should be the point of business, would it not?
Making a Case for a Time and Attendance System
Having reliable rostering software, like goRoster, means that you know who is working in your business at any given time. It’s a great tool to help you manage your staff without having to be on site 24/7.
5 Types of Sales Promotions in Retail (and How to Implement Them)
Promotions are almost always part of a retailer’s sales and marketing mix, and for good reason — they can drive sales and help you move inventory.
7 Ways to reduce your impact on the environment
Managing your business’s impact on the environment is not only good for the environment but it can also help to improve your business’s reputation and reduce business costs.
Get your affairs sorted before Christmas
Have you ever stopped to think where would your family and next-of-kin start if the worst happens?
Save the date for cash flow workshop
The next few months can be financially challenging for business cash flow.
BUSINESS buddy is hosting a workshop on February 19, 2018. Yes, it’s nearly next year already!
Tips and tricks to operate a mobile office workforce
For more than a year, BUSINESS buddy has operated a mobile office system on Fridays and with some experience of this initiative – we have tips to help it work in your workplace.
On Fridays, the Allens Road office doors are locked tight and our team works from where it best suits their needs, which could be at a client’s workplace, at home, in a hotel – virtually anywhere.
9 ways to squeeze more profit out of every business day
It’s the Holy Grail of business: increasing the number of profitable hours in a day.
Four signs it’s time to systemise your staff roster
To be successful in business, you need to be organised, have a clear plan for where you’re headed and be confident with the processes you have in place.
3 Simple signs your business is ready for a payments platform
At a certain point, every growing business needs to take a leap and invest in new technology. It can be daunting and expensive, but the rewards can greatly outweigh the costs and stress.
Action Planning for client success
When I designed the first Spotlight Reports, I usually included an Action Plan to close the circle between great data analysis and goal-setting.
Brewery Inventory Management Up In The Cloud
Brewery inventory management can be done in a variety of ways. Often, companies will rely on a combination of methods, including web apps, written notes and spreadsheets.
Is Ecommerce Really Killing Brick and Mortar Retail?
Let’s get straight to the point: ecommerce is NOT killing brick-and-mortar retail.
8 top tips to manage bad debts
BUSINESS buddy knows that in any business, cash flow is king.
When clients fail to pay on time it makes things toe-curlingly awkward for all involved.
Business owners struggle with chasing clients for money, and it requires awkward conversations and wastes a lot of precious time.
3 Forecasts Your Business Needs To Succeed
Forecasting is the process of estimating the effects trends, costs and external factors will have on your business in order to give yourself time to prepare.
The Best Xero Add Ons for Business Funding
Whether you’re trying to bridge a cash gap or secure funding to grow your business, the Xero marketplace offers a suite of apps that can help
You gotta dig the No Dig method
Dennis Yarrow began Yarrow Plumbing back in 2003. Before that, he cut his teeth in the plumbing industry working in Papua New Guinea where he learned how to manage a team of 50 (and some other life skills he hadn’t bargained for).
Digital marketing made easy
Learn how to scale your business online at an exciting new BUSINESS buddy workshop on 12-1pm Tuesday, October 31 2017.
Encourage teamwork in the workplace to enhance stock control
In any business, large or small, good teamwork is essential for morale, productivity and efficiency.
Should Your Business Give Trade Discounts?
Many businesses use trade discounts to simplify variable pricing, protect a market recognised price point, stimulate sales or reward customer loyalty.
Why profit isn’t the problem and cashflow is king
What is cashflow management? In its simplest form, cashflow management is doing everything possible to ensure that money flows into your business as quickly as possible, and leaves the business as slowly as possible.
To Airbnb or to not Airbnb, that is the question
The idea of renting your accommodation through Airbnb seems like the perfect way to turn empty holiday homes or spare bedrooms into income earning assets.
Common Inventory Management Mistakes: A Closer Look
Inventory management can be overwhelming. There can be an incredibly large amount of tangible inventory, which can translate to a huge amount of responsibility and pressure to manage this inventory properly.
Five ways to build a happy team
We have spoken to hundreds of business owners and thousands of their employees over the last twelve years.
How Cloud Technology Has Transformed the Role of Accountants
The role of a tax accountant has continuously changed over the course of the last 50 years, and it is currently undergoing yet another transition period with the growing popularity of cloud accounting.
Unleashing the Huge Power of Small – Building an Amazing Business in Amazing Times
It was great to see so many SME operators play truant from the office Monday morning and head along to our Business buddy business-building sponsored event at the Howick Club, and what an event it was.
To receive ideas and inspiration from one of the world’s leading entrepreneurs, mentors and public speakers was truly special.
How to take your business to the next level
You’ve done the hard work by setting up your business and establishing solid foundations with a good client base – congrats! So how do you expand, and do so profitably?
Four fab networking tips
If the thought of business networking gives you sweaty palms and a pounding chest then you are not alone.
Often people imagine it involves public speaking or standing in a room making toe-curling small talk with strangers…. cringe…but this fear is usually unfounded.
Last days for David Awards voting
Have you shown your support for BUSINESS buddy?
The people’s choice for the David Awards 2017 closes on Friday September 15 and we would love you to vote for our team.
UNLEASH the HUGE Power of Small
BUSINESS buddy has pulled off a HUGE coup and have arranged for one of the world’s leading business thinkers and speakers — Paul Dunn — to present a stunning business-building event right here in our region.
We're bursting with excitement and we want to share that excitement with you.
We’ve done it again
Not that we like blowing our own trumpet too loudly…. But BUSINESS buddy has made the finals for another award and we need you to exercise your voting fingers, again.
Accurate Inventory Costing: Why It’s Critical for Success
Even if a business has some other, high value, assets such as factory plant, inventory is likely to essential to the business’ ability to trade profitably.
Ditch the smart device
BUSINESS buddy loves technology. However, let’s throw it out into cyberspace that to really get the most out of apps, notifications and those bings and bongs – every now and then you should turn off your smart device.
Want to Create Amazing Customer Experiences? Learn From These 4 Homeware Stores
The homeware and furniture industry has been doing well for the past couple of years, and we expect this trend to continue. The annual expenditure on furniture per US consumer was $502 in 2015 (up from $386). Meanwhile, a report by Furniture Insights found that furniture orders for February 2017 were up 4% from last year.
Knowledge is power
As business owners, we can all get so busy focusing on the day-to-day running of our businesses that it can feel impossible to find time to analyse what we’re doing and planning for the future.
BUSINESS buddy realises that there is always something on the to-do list that just can’t wait, however exercising your business skills you will improve your entrepreneurial fitness.
Vote for BUSINESS buddy
BUSINESS buddy has entered The People’s Choice category of The David Awards 2017. With just one click, you can vote for us.
The BUSINESS buddy team is small and determined. They are relentless about delivering their promise to their clients, recognising success comes from its clients' success and their key principle is “Growing your business is our business.”
How to ensure your jobs are profitable
If you’re in business, making decent money is important. Sometimes, though, it doesn’t always work out the way you’d planned...
Bitcoin adventure for BUSINESS buddy
In a bold move, BUSINESS buddy has opened a bitcoin account and now we can accept and make payments with the digital currency.
We have done some homework and discovered the background of bitcoin and how businesses can use it.
It is, to say the least, confusing. Here, BUSINESS buddy has a go at explaining and simplifying the futuristic currency.
HOW IMPROVING EMPLOYEE ENGAGEMENT CAN BOOST YOUR BOTTOM LINE
Look at a company with a reputation for strong employee engagement and you’ll find a high performing business. We’re not making this up.
The Best Xero Accounting Add Ons For 2017
How do you know which Xero Accounting Add Ons to use?
Impact of immigration changes on Kiwi businesses
It’s an election year and immigration is a hot topic. Migration to New Zealand is at a record high and while it has significantly boosted the economy, some say it has contributed to Auckland’s housing crisis and pushed infrastructure to breaking point.
In April 2017, the Government announced changes in criteria for people applying for residency under the skilled migrant category (SMC), to stabilise immigration numbers.
Common mistakes made when calculating payroll costs
Knowing what your payroll costs are – daily, weekly, monthly and yearly – is an important part of running a successful business. It allows you to forecast future wage costs, ensures you don’t have any surprises come pay day, and gives you confidence in the stability of the business.
But do you know the TRUE cost of your roster?
THE HAPPINESS FACTOR: 6 TACTICS FOR IMPROVING WORKPLACE PRODUCTIVITY
Remember the old (and slightly misogynistic) phrase Happy Wife, Happy Life! ? Well, it turns out there is a workplace equivalent: Happy workers, productive business! (and no – we couldn’t make it rhyme).
Number Nurses wins
When Number Nurses won the marketing innovation award at the New Zealand Bookkeepers Association conference we nearly needed some CPR to control our racing heartbeats.
Thanks for the PJs
That’s the Jammie Army done and dusted for another year. Thanks to the generous people who sent snuggly pyjamas into BUSINESS buddy headquarters.
7 ways to block ransomware
With the recent spate of cyberattacks causing havoc to businesses and individuals around the world, it has become evident that hackers are more threatening than ever before.
How Isle Of Skye Candles Reinvested For Growth With Float
The Isle of Skye Candle Company’s first batch of candles was made in a converted croft on the Isle of Skye in 2006, and since then the company has been lighting up across Scotland and the UK.
The Power of Collaboration For Marketing Your Business
Collaboration is the key to success for every business—that’s what 75% of CEOs believe. It’s a way of bringing together diverse minds and ideas and sharing resources to create something bigger and better than individuals could achieve alone, and it’s gradually becoming the status quo for modern businesses in all sectors, including retail.
Fight preventable illness with our Jammie Army
Winter is here and BUSINESS buddy needs you to help battle childhood illnesses that no tiny tot should have to endure.
Snuggling up at home in a warm pyjamas can be all it takes to keep little ones out of Kidz First Children’s Hospital, at Middlemore in South Auckland.
Got the guts to tackle innovation
Phenomenal leaps in technology often polarise people, with some loving the new developments whereas others prefer a more tried and true approach.
The America’s Cup yacht racing is a great example of bold innovation that people either embrace or reject – even if they couldn’t care less about sailing.
The Importance of Accurate Costing
It’s no debate that the world is becoming increasingly globalized. Despite some barriers to entry into international business, geographical expansion and the use of imports and exports has become easier and more prevalent. Regardless of the size of a business or where it chooses to operate, one necessity remains constant, and that’s the need for accurate costing.
Trade Barriers: Mitigate the Impact on your Business
It can be unwelcome news that the success of your business is, in part, out of your control. If your business involves importing or exporting inventory, it pays to be aware of and be prepared to mitigate potential impacts of trade policy on your business.
Budget 2017 no tax surprises
Another New Zealand Budget has come and gone and there was not much to excite tax payers or small and growing business owners.
The Minister for Small Business, Jacqui Dean is reported as saying there are plenty of stimulants that will put more money in people’s pockets – hence increasing their expenditure, which may help the retail sector.
Key management skills to grow your business
Many small business owners start out with a good business idea but little concept of what it takes to manage and grow a business.
The good news is that you can definitely learn and improve your management skills as your business grows.
And while there isn’t a definitive list of skills, the ones we’ve listed below could help you to build your initial vision and develop your business to its full potential.
Top 7 Tips for Finding the Right Business Software
You almost certainly started your business for one of two reasons: you can do something better than anyone else, or you have a burning passion so deep you cannot focus on anything else. And if you’re lucky, it’s both. You didn’t start your business because you wanted to track cash moving in and out of your bank account. Nor to complete complicated forms for the government. You hadn’t even contemplated how business software could help you do these tasks, mostly because you didn’t know you need to do them.
B1G1 feels good
BUSINESS buddy is proud as punch to have provided 3,385 doses of vitamin C injections, 25 days of bookkeeping, with another 10 days pending, and supplied 2,310 medical items for less fortunate four-legged friends.
In June 2016, our head honcho, Kirsten Hawke signed BUSINESS buddy up to B1G1 – a global philanthropic programme businesses can join to support people in developing countries.
Ready to leave the nest and share?
Working at home has its advantages. The commute is negligible, it’s much cheaper, you can bring in the washing if it looks like rain and work around children schedules and nap times.
On the other hand, there are negatives. Client meetings may require a tidy up and a vacuum, taking on employees means having them in your private home, isolation from the rest of the world, no handy coffee shop next door for your caffeine fix.
Feedback: why your business needs it, and how to get it
Your digital presence as a business is absolutely crucial. If you want consistent work, to build trust in your brand, and the opportunity for growth, you have to know how to gather feedback, and how to embrace it.
Here, we’ve laid out the most important things you need to know about doing just that.
Review of TSheets – Employee Time Tracking Software
Struggling to keep on top of employee timesheets? Want to offer employees a simpler way to clock in and out? Keen to track remote workers’ location throughout the day? Eager to make payroll easier? TSheets, a mobile employee tracking software, is here to help.
Don’t get stung by insolvent companies
The construction industry is a boom or bust business sector and many innocent people are left financially stung when a company goes under.
At the moment, Auckland construction companies can’t keep up with demand and staff members are being poached every day, which is pushing pay scales up.
The cost of materials is also rising and some companies that provide fixed-priced quotes with little room for cost increases are going under or abandoning contracts that are running at a loss.
Happy Tax Freedom Day
It’s time to crack open the bubbly and pull the party poppers because according to some political beings – New Zealand celebrated Tax Freedom Day on May 8 this year.
Did you even know such a thing as Tax Freedom Day existed? And, what the heck does it even mean?
The BUSINESS buddies were quite intrigued by the concept of Tax Freedom Day and did some digging to find out more.
5 Best Xero Apps for 2017
There are now over 500 time saving Xero apps that are designed to help your business work more efficiently. But which are the best Xero apps for your business?
From advanced reporting and time tracking tools, through to tools that make managing inventory and orders in real-time easy, there are a vast number to choose from.
Craft Beer and the Race for Hops
The craft beer revolution has sparked a unique production for breweries both small and large. Beer drinkers everywhere are seeing an emergence of eccentric flavors and quirky names fill the taps at their local pub. Not only are beer drinkers seeing this emergence, they are demanding it and as a result craft beer has become increasingly popular over the past few years. This popularity has sculpted the way breweries are operating. Craft beer may be infused with peculiar hues, notes and suggestions of ingredients we never would have thought to be vaguely compatible with beer, yet a few staples remain intact in the beer brewing process.
Don't be a stranger: keeping in contact with customers
With loyal customers being worth up to 10 times as much as their first purchase, it pays to keep in touch even after you’ve made the sale. After all, they’re not easy to replace—new customers are in limited supply, significantly less likely to buy, and up to six times more expensive to sell to than your existing customer base. So it’s important for retailers to retain their customers by building authentic relationships that benefit both parties.
Five ways to nurture leadership
When you’re the boss it can be challenging to let go of the reins and make someone else responsible for managing a role.
But, if you want your business to grow you have to share the load, and if you do it well, there will be business advantages that you may not have anticipated.
Cloud-based software – the way to go!
Cloud software is fast becoming the way to do business. The reason for this? Everything becomes easier, more accurate and more accessible – which, at the end of the day, is the direction a company should be going in. Cloud-based software is basically where everything to do with the program is online. We will look at a few ways that cloud software can help you achieve good inventory management and manufacturing control.
Four tips to help minimise disruption caused by employee leave
An efficient, hard-working and friendly team is often the making of a successful hospitality business. So it can be quite disruptive when employees need to take leave.
Q & A with Xero expert Heather Smith
We recently joined the thousands of businesses headed to the Xero Roadshow, an annual exploration of what’s happening in the world of cloud accounting. Much more than just a showcase of Xero’s features, the Roadshow is one of the best ways to learn about the ecosystem.
Keep your worker bees buzzing
Keeping productivity levels buzzing is proving problematic for a lot of small to medium Kiwi businesses and the nation lags behind other countries for getting lots of stuff done, efficiently.
Several different factors improve productivity including keeping up-to-date with technology, investing in research and development and connecting with other businesses.
12 Digital marketing strategies to grow your online store (+ 3 bonus tips)
Whether you’ve just opened up shop or you’re expanding your ecommerce empire, one of the biggest ongoing challenges you’ll face is finding a way to increase traffic to your online store. Your high-quality products and stellar customer experiences are a good start, but if you want customers to find you, you’ll need to find a way to stand out in the crowd of competing businesses vying for their attention. In this post, we’ll take you through a collection of digital marketing strategies that will help you attract and retain a customer base that’s both engaged and loyal, so you can get ahead of the competition.
Manufacturers – can better inventory management improve business performance?
Manufacturers and inventory obviously go hand in hand, it’s not like you can manufacture anything without the necessary parts. However, even with simpler manufacturing jobs, there are a lot of moving parts, and managing the supply chain can become a complex business. It’s one big juggling act, and if you drop one of the balls it can send it all spiraling out of control. However, with inventory management and modern software a lot of the worries of old can be controlled.
Here’s how inventory management can help a manufacturers business performance.
Panic not – tax changes made easy
The 2016 budget had a few changes to tax laws that come in effect April 1, 2017. Yes, it is April Fool’s Day.
The BUSINESS buddy team has looked at the nuts and bolts and come up with a few pointers.
Welcome Amy
Being young and aspirational has established a great career pathway for BUSINESS buddy’s youngest accountant, Amy Posthuma.
Following her internship at BUSINESS buddy’s East Tamaki office, Amy was offered a fulltime position as their junior accountant.
Do you want to attract more customers?
Grow your business through marketing and advertising!
Whether you’re a personal trainer or a large computer repair shop, if you want to grow and build your business, you’ll need to attract new customers and keep them coming back for more.
Effectively marketing your business is one way to grow your brand and your business.
Four great ways to absolutely, definitely get your overdue invoices paid
It’s often how you say something that determines whether you get the result you want. This applies in financial services, marketing and even tax collecting.
In one experiment by the Nudge Unit they improved the payment of vehicle taxes by using simple plain language, “pay your tax or lose your car”. In fact HM Revenue & Customs attributes the recovery of an extra £210 million a year from taxpayers by using behavioural insights in its letters i.e. changing the words to influence behaviour.
Get Out of Groundhog Day: 4 Easy Changes to Re-Energise Your Business
Don’t get stuck in your own Groundhog Day: 4 easy changes to re-energise your business
Dodge the scammer bullet
While most of us have alarm bells ringing when we receive phone calls from people claiming to be from Microsoft, there are also scammers who target businesses.
There are thousands of people sitting at the other end of a computer screen, actively trying to trick the unwary into sharing their bank account details or send sums of money offshore.
Attention to detail to dodge balls-up
And the winner is…. Oh sorry, no it’s not.
What a clanger the big announcement was at the 2017 Academy Awards, when the wrong envelope was handed to Warren Beatty and he incorrectly announced La La Land as the supreme winner.
A New Year, New Outlook For Your Business
I was catching up with a friend over the holidays who was telling me about one of his friends getting made redundant from a small family business just before Christmas. The basic premise of the story was that the bank had told them they needed to make cutbacks, and as part of this they had to reduce staff numbers. They didn’t want to do this, but they had no choice…
5 Important Lessons SMBs Can Learn from Retail Giants
As an SMB, you’ll never have a shortage of sources for tips and insights. From retail websites (such as this one) to mentors and fellow retailers, there’s always somewhere to turn to for business advice and best practices.
7 steps to brilliant job and staff scheduling
Effective job scheduling is one of the most important but least understood disciplines of business management. Assigning the correct employee to the right job at the right time is crucial for business success, especially for companies with a mobile workforce. So why don’t some managers give it more of their attention?
Xero announces 2017 entrepreneur scholarship for UK students
We know what it’s like to be a startup; we were one. That’s why we’re excited to launch the 2017 Xero Entrepreneur Scholarship, designed to help UK students afford the rising cost of education and help them along the road to success on their entrepreneurial journey.
The Fight for the High Street: An Interview with SaveTheHighStreet.org’s Lyndsay King
It’s no secret that smaller retailers face the challenge of their lives against ecommerce giants such as Amazon — and in Britain, this fight has recently been compounded by Brexit and its potential effects on the retail and trade industries.
But there’s hope yet. A recently launched organization called SaveTheHighStreet.org aims to give the power back to high street retailers and local shopkeepers by endowing them with the tools, skills, and digital capabilities they need to compete in the modern age.
7 Signs Your Business Systems Suck
Let’s face it, concepts like paperless office and cloud computing are not ‘new’ concepts anymore. It still surprises me when I encounter businesses that are not paperless and in the cloud. It just makes sense. I’ve been running businesses as ‘paperless offices’ since I co-founded Business Fitness back in 2001. My current business, PARADOX, has been ‘paperless’ and had 100% cloud-based IT and business systems from day one, almost 8 years ago now.
Shake it off
You’ve put yourself out of your comfort zone and tried something new with your business, with less than spectacular results.
Now’s the time to brush yourself off and try again.
10 Tips For Marketing Your Business On A Shoestring Budget
Marketing. *Cringe*. You can think of a million things you’d rather be doing. The ice bucket challenge in the middle of winter. A half marathon with your ridiculously fit niece, a Toastmasters table topics competition in front of 100 unknown people.
A business winning formula: Business fit. Business value. Long-term relationships.
Having worked with several trade contracting businesses, I’ve observed a very common, but inefficient, behaviour: going after big contracts before thinking about the fit.
Often, companies will spend months preparing a proposal only to see it rejected.
What is Peer-2-Peer Lending and How Can It Help Your Business?
Peer-2-peer lending is a form of debt financing that allows businesses to borrow money without going through traditional lending routes such as a bank. P2P lending platforms connect individuals looking to lend their money with businesses looking to borrow.
Why You Need To Embed Culture into Your Onboarding Process
These days, cultural fit is an important part of the recruiting process. The prevailing wisdom is that you train for skills, and hire for attitude and fit.
Create a great team environment
We spend most of our lives working rather than with the ones we love, so it seems only sensible to ensure the relationships we have at work with our colleagues or employees are healthy and happy, as well as professional.