Small business owners often juggle many balls at once. However, take your eye off one ball for even a short time, and the whole lot comes tumbling down. Similarly, taking your eye off technology, could result in very expensive consequences. Avoiding the common mistakes we identify here though is a good starting point.
Paying upfront for software
Whether it’s due to a lack of experience or lack of expertise, many small business owners rush into buying software solutions without undertaking the necessary due diligence. In particular, it’s amazing how many do not take advantage of the trial offers or free demonstrations that most providers offer. A trial or demo is a great way to test drive the software. Indeed, getting your hands dirty is often the only way to make sure that the software offers the solution your business is looking for.
Not backing up data enough
The best rule to follow for data backup is the 3-2-1 rule: three copies of data, two types of media and one off-site location. In addition, it’s a good idea to test your backup provider to make sure they are reliable. It may be a disaster that will never happen, but the possible enormous consequences of not having your data backed up make it imperative that you get it right.
Not preparing for the worst
This scenario is closely linked to that of backing up. What would happen to your data and information in the event of a natural disaster? In New Zealand especially, the threat of an earthquake is very real. But how seriously have you considered what would happen to your data or computer systems in the event of a fire or flood? Or what would you do if your employees couldn’t get to work because of an earthquake? Not having a plan of action is foolhardy as experience in the aftermath of the Canterbury Earthquakes suggests that the chaos can last for weeks, months, even years. Being prepared will help mitigate against the inevitable loss of revenue following a natural disaster.
Inadequate succession planning
All too often small businesses are overly dependent on the naturally tech savvy staff member who is an expert in all things IT. If a staff member is keen and knowledgeable, it’s tempting to let them get on with it. But what happens if that staff member leaves suddenly or goes off on long-term sick leave? Who else knows when the domain name is up for renewal? Or who can troubleshoot an issue with a PC? Having all that business critical information invested in one individual is unwise. Spreading the knowledge throughout the organisation will mean that when that individual leaves, a range of people will be able to step up to the mark.
Even if you are not particularly technologically aware yourself, as a small business owner it pays to have an overview of IT within the business. Failure to do so could result in lost money or data for your company.
How to find your dream home
Spring is a busy time in the real estate market. That first glimpse of warm weather and the prospect of Christmas holidays round the corner means that many homeowners prefer to market their homes in springtime. If you’re on the hunt for your dream home, then these tips will help you find the perfect match.
Buy what you can afford
This may seem like an obvious one, but limit your search to homes that are comfortably within your budget. You will then be in a better position to ride any unexpected financial commitments further down the line. Besides, there’s no point in having that huge garden and massive entertaining deck if you can’t afford to invite anyone round for a barbie!
Think home not investment
Don’t think of buying a house as being an investment first. The house will be a home first and foremost so make your choices based on whether you can see yourself living there, rather than any profit you might make when it comes to reselling.
Consider all possibilities
Don’t narrow down your range of choices unnecessarily. Your preference might be for a newer, low maintenance home, but you might just fall in love with that old villa and all its architectural features. Do your homework and have a good look round at what’s available in the market before you make your mind up.
Think long term
The average family stays in a house for 13 years so when looking for your dream home it’s important that you think long term. The process of buying and moving takes a great deal of time and effort so finding a home that will suit your needs for a decade or more will be a good investment.
Location, location
You don’t just buy a house, you also buy into a neighbourhood. You might be completely taken with the property’s swish interior, but less so with its location on a busy street. Visit the house on a number of occasions and at different times of the day. That way, if there are issues with noisy teenagers next door or problems with parking because of the school at the end of the road, you have a better chance of discovering these before you are committed to buying.
Resale value
While the property’s potential resale value shouldn’t be an overriding factor in your choice, you won’t want to buy a white elephant either. If the potential home is so unique and unlike any others in the neighbourhood, then you may want to look elsewhere so it doesn’t become a burden further down the track.
Your dream home is out there somewhere! Use these tips to help you narrow down the choice so you find the ideal fit for you and your lifestyle.
Host-beneficiary relationships and how they can help startups
For new businesses, finding ways to market your service or product with little or no budget is a challenge. One creative way that you can do so is by developing a host-beneficiary relationship. In this article we have a look at host-beneficiary relationships and identify five steps to making them a success for your startup.
What is a host-beneficiary relationship?
In simple terms, a host-beneficiary relationship is where Company A (the host) agrees to let Company B (the beneficiary) deliver a sales message presented as a special offer to people who are Company A’s customers or clients.
For the beneficiary company, it’s a simple and relatively inexpensive way to get your marketing message out there to large numbers of highly qualified prospects with the tacit endorsement of the established host business. And for the host, it offers the opportunity to reward their customers and generate some goodwill with a sales offering that is presented as a gift from the established business.
Let’s illustrate this better by way of some examples. A framing shop could buddy up with a photographic supplier’s 200 customers and offer a free photo framing. One new computer support business offered a voucher worth two free hours of computer repair to the small business clients of a local accountant. So, as you can see, the host-beneficiary relationship has benefits to both sides of the partnership. But what makes for a successful host-beneficiary relationship? Below we identify five steps that will help you create a partnership that works both ways.
- Be definite about the target audience.
Who exactly is your target audience? What is their gender, age profile, likes and dislikes? The more characteristics you can identify, the more potential hosts you can approach.
- Identify possible local hosts that serve a similar demographic.
Focusing on a similar demographic will not only bring people in with your initial offer, it also increases the likelihood that they will become regular customers.
- Have a targeted offer for each prospective host.
The free photo faming offer may not have worked so well for a host company that had nothing to do with photography. Make sure you come up with a free or heavily discounted offer that has a high perceived value for the consumer at a relatively low cost to you.
- Spend time on developing a pitch.
Give careful thought as to how to present your pitch to the potential host. Emphasise what’s in it for them. Be clear that it’s a great way for the host to reward their loyal customers at no expense and very little effort.
- Make it easy for the host.
Have a draft offer letter ready for them so they can see how easy it will be to participate. Some businesses may let you insert the offer in one of their regular customer mailouts or emailed newsletters. Others may charge for the use of their database or will ask you to pay for a separate mailout. Be flexible as it’s a small price to pay for access to the host business’s database.
Make sure that you also spend time on thinking about how you will convert these new prospects gained from the relationship into long-term customers. A bakery, for example, that gave away a lamington also handed out a buy five get one free loyalty card as a way to encourage repeat business.
Host-beneficiary relationships, therefore, offer the potential for real benefits to hosts and beneficiaries. For relatively little outlay, they offer a win-win situation for both parties so make sure you consider host-beneficiaries as part of your startup’s marketing strategy.
Free fun spring activities!
Spring is a beautiful time of year.
We can see new life in the garden with buds, blossoms, and cheerful spring flowers such as daffodils and crocuses. And we see new life in the fields with lambs frolicking and new-born calves. With lovely bright warmer weather, it’s time to get outside and make the most of the great Kiwi outdoors.
Here are some ideas of how you can enjoy our beautiful landscape with some great free activities.
- See the cherry blossoms in full bloom in Cornwall Park
- Climb to the top of Mount Eden for some breath-taking views
- Have a picnic at one of our magnificent regional parks
- Ride a bike along one of Auckland’s Great Rides trails
- Climb a tree in the Domain
- Take a stroll along Tamaki Drive
- Feed the ducks at Western Springs
- Have a game of snakes and ladders at the playground in Farm Cove
- Fly a kite in Te Atatu Peninsula’s Harbourview People’s Park
- Find the first crocuses and snowdrops at the Botanical Gardens
- Go for a walk on one of west Auckland’s fabulous beaches
- Visit the magnificent Hunua Waterfalls
- Take a hike in the Waitakere Ranges
- Watch the sails at Wynyard Quarter
- Take a self-guided tour through Devonport’s North Head bunkers
- Visit the Diwali Festival of Lights in Aotea Square
And if it does happen to rain, then there are still plenty of free fun activities to choose from.
- Enjoy some culture at Auckland Museum
- Marvel at the artworks in the Auckland Art Gallery
- Find out about New Zealand’s colourful naval history at the Torpedo Bay Navy Museum
- Explore Aucklanders’ enduring relationship with the sea at the Maritime Museum.
So whatever the weather, there are plenty of free activities on offer for you and the family.
So make the most of Auckland this springtime.
Business lessons we can learn from the All Blacks
Every Kiwi already knew it, but with the All Blacks winning the Laureus World Team of the Year award earlier this year, it’s now official: the All Blacks are the best team in the world. But what makes them so phenomenally successful? There’s no doubt that the All Blacks invest a great deal of effort in building a sense of legacy, continual improvement and high expectation which has generated extraordinary success. In this article we look at the key lessons we can draw from the All Blacks, which can be applied to generate success in the world of business.
Get the basics right
Whether it’s improving the line-out or developing passing and tackling skills, the All Blacks spend a lot of time and effort practising and perfecting those basic skills of the game. Businesses could well benefit from devoting more time to identifying what the relevant basics are for your company and making sure that you get them right every time.
Create a learning environment
Another important aspect of the All Blacks winning formula is their emphasis on continual improvement. This philosophy was inspired by Graham Henry’s experience as a headmaster and it involves training and development to improve and enhance the collective skills of the team. Individual personal development is charted on a day by day, week by week, season by season basis. Businesses that create a learning environment tend to be more dynamic, high achieving and positive places to work. And that value system will have a huge impact on your bottom dollar.
Review and reassess
After every game the All Blacks take time to collectively review their performance. Asking questions such as what worked well, what didn’t work so well and how could we do things differently are central to the All Blacks success story. The notion of continual review though is usually overlooked in business. Too often we get caught up in the busyness of day-to-day operations and we neglect to take stock and reflect on our overall performance. Taking the time to do so, and to do so thoroughly, will make a significant difference to enhancing productivity throughout the organisation.
Clear communication
Another thing that the All Blacks are really good at doing is coming up with a game plan, communicating that plan to the players and getting them to sign up to it.
Having a clear plan of action is a must for any business. Being clear and concise in the way you communicate that plan to staff members, ensuring that they are signed up to the plan and understand where their contribution fits in, are all valuable lessons that we can apply in the workplace.
It may not be possible for all of us to be world beaters like the All Blacks. But applying some of the practices they have employed to create those amazing achievements will go a long way to securing success for your company in the world of business.
Barbecue on a budget? 5 ways to make your budget go further
With spring on the way and the promise of warmer weather, many of us will be thinking of dusting off the barbecue and inviting the neighbours round. If you’re looking to make your shopping budget go further this spring and summer, then read on for some inexpensive ideas that will help your barbecue budget to go that bit further.
- Cut back on the meat!
It may be a strange concept for the average Aussie but a BBQ doesn’t have to only be about meat! There are some great reasonably priced seafood choices out there including trevally and monk fish. Try a delicious garlic and chilli marinade, or wrap some filets in bacon before grilling on the BBQ for a real treat.
You could also be really adventurous and try some vegetarian options: how about a spicy bean burger or vegetable and halloumi kebabs? These make a delicious, healthy and cheaper alternative to the standard sausages and burgers.
- Try cheaper cuts of meat
If you just can’t bear the thought of a barbecue without meat, but you still want to save some dollars then think about trying some cheaper cuts of meat. Forgo a filet steak for an inexpensive blade steak, or why not try some flavoursome chicken thighs instead of the more expensive breast meat? Experimenting with some cheaper alternatives will help your budget to go that bit further.
- Make your own marinades and sauces
It’s surprisingly easy and much cheaper to make your own spice rubs, sauces and marinades. A really yummy marinade or spice rub can transform a dish and often they can be made from ingredients that are readily available in the pantry. Have a hunt through your recipes so that next time you fire up the barbie you can try making your own sauce or spice rub.
- Invest in a good quality BBQ
You don’t need to spend thousands on a flash BBQ, but it is worthwhile investing in a good quality one that won’t fizzle out prematurely. Furthermore, buy one that is big enough for your family’s needs only, or perhaps slightly bigger if you entertain a lot. It’s also important that you can multi-task – the ability to cook meat on one side and say, corn on the cob, on the other is very handy.
Once you’ve made the investment in a good barbecue, make sure that you look after it properly. Cleaning and oiling the grill thoroughly before and after use will prolong its life. In addition, get rid of ashes as soon as they’ve cooled. Taking the time to look after your investment will ensure that it serves you well.
- Go easy on the fuel
Most people use more fuel than they actually need. Don’t be tempted to use an entire 4kg bag of charcoal when 1.5kgs should cook any meal for 4-6 people. And if you’re using gas, you only need to crank up the heat at the start, thereafter turn it down low and let the food cook slowly.
Every good Aussie loves a barbecue and with these helpful tips you can relax and enjoy the summer season without worrying about your spending.
Biggest Mistakes Made During a Listing Presentation
If you could master any part of your role as a real estate salesperson, surely you’d want it to be the listing presentation. According to real estate trainer, Jo Mangum, there are 12 mistakes real estate salespeople make during listing presentations, which kill their confidence. I will discuss one mistake in each newsletter:
Mistake #1: Being Too Nice
While it is essential for the prospects to like you, many real estate agents go too far. Buyers want to deal with a super-friendly salesperson; but a seller would trade all that for someone who can go to battle for them and negotiate like a rottweiler when required. They need to see this tough side of the consultant during the listing presentation, because they will be wondering how you will deal with pushy and demanding buyers. You need to demonstrate your ability to stand firm; say no; and be uncompromising – without coming across as rude (there is a fine line between confidence and arrogance). Do you tend to be full of smiles and pleasantries all the time, and come across as a bit of a push-over? Do you need to develop a bit of “mongrel” and learn how to stand up to pushy or opinionated people? You might benefit from asking your colleagues or manager about these issues, as we can often have blind spots about our personality.
5 Tips To Get More From Your B2B Clients
Well over 90% of our customers over the last decade or more have operated in that B2B world. So when it comes to maximising their client sales, it often needs to be a focus on both client management and cross-selling and up-selling.
- The Golden Rule of ongoing client or account management is the 90-day rule, i.e. you need to take some form of proactive action to nurture and develop the relationship, and add value to the relationship at least once every 90 days. I repeat the words “Add value.”
- Mix up your client management. Some of your clients will prefer face to face contact, others by phone, and others simply email. Learn to understand your key clients, especially to find out which form of communication they prefer and always give them more than one contact method over the year.
- Surprise them with your knowledge. Do ongoing reading and research to understand their industry or related industries to them, so that you can share knowledge and ideas with them via email or face to face the next time you’re with them. This may not simply be telling them about their own business, but it could be a related industry that’s going to add value to their own planning moving forward. This will encourage you to read ongoing as well.
- When planning your cross-selling, think about your client and their customers, and identify opportunities for them to grow their sales with their customers, so that all of your cross-selling suggestions are fully aligned to what your client’s long-term goals are, which could be to increase sales or to simply increase profit margins. This will increase the chances of you getting cross-selling items across the line.
- Don’t avoid up-selling. As every business and brand develops, people want either higher specifications or higher volumes moving forward. If you don’t offer people up-selling opportunities with you, they’ll generally seek a premium solution from somebody else, which will be deeply upsetting to you long term, so don’t avoid this critical step. I repeat, so don’t avoid this critical step. Now, get out there and take action!
10 Things You Need to Know When Building a New Home
1. Understand that building is not the same as buying an existing house!
This may sound obvious, but whilst the house buying process is relatively simple and shorter, the building does take longer and this can lead to significant stress for most people. There are a number of individual moving parts to the building process that functions independently to one another. The players involved, for example, include surveyors, architects, draftsman, engineers, geo-technicians, the builder and you. The involvement of all these players is typically before an application is even made before any lodgement of plans to the local council for approval! My advice is to expect delays; if you don’t have any then that is a bonus!
2. Understand what you can afford!
This is the most crucial point as finance will drive the whole project. Don’t rely on your local bank branch, as financing building is a specialist function. Use a good mortgage broker who has a track record of financing builds and can get you the best deal. Be prepared to pay for all the services and products involved in the build. It can be an expensive process and expect it to cost you accordingly. I sometimes tell potential clients that they don’t work for free, so don’t expect their builder to work for nothing. Every product used and every service has a price. I often remind clients ‘you don’t go to the supermarket and get it all through the register then say “I’m only paying for some of it!”’
3. Understand what you are buying.
When you are given a quotation or contractual price to build, make sure it includes everything you see or would normally expect in the build process. In the market place, it is unfortunately common for a ‘bargain’ price to be used to get you interested in the build process, but by the time you add in extras, like carpets, paint and decoration, tiles and landscaping etc. the price has suddenly accelerated, but often by then you have already signed the contract and paid a deposit. My advice would be to not sign any contract until you are sure it covers everything and that the price is fair for what you are getting, and includes all aspects of the build. For example, avoid any contract that has PC (Provisional Costing) sums in it.
4. What are the terms of the contract?
It is important that you go through the builder’s contract in detail and get appropriate legal advice. Get your lawyer involved early and make sure your lawyer is familiar with building contracts and dealing with the conveyancing regarding new builds. If your builder objects to you taking the time to do your due diligence on the contract, then they are not the builder for you. Often I find that clients do not want to ask questions as they may feel intimidated or worry that they look stupid. Remember, that any building contract you sign, is a binding contract for one of the most expensive assets you will own. It is critical to understand all the terms and conditions. Many problems can be avoided up front, by making sure all aspects and expectations are communicated and well understood. For example, I have often seen situations, where if there are any retaining walls or cut and fill earthworks, clients have asked the builder whether the costs of obtaining resource consent are included and the builder has said, “Oh yeah,” only to come back later and let the client know that it is specifically excluded from the building contract. Not a great start!
5. Who is actually building my house?
Yes, you might have a big group home builder, but who is actually doing the work? Questions to ask include; “Have they worked for the company before?” “Are they a Master Builder or Certified Builder in their own right?” “Who is the Registered Building Practitioner?” “Who is actually running your job?” “How often can you meet the builder to go over progress?”
6. Are all the council inspections being done?
This is very important for you to get your Code of Compliance Certificate (CCC). If you are worried, ask to see the site plans. A set of the council approved plans must be on site for reference and checking at all times and the council inspectors will sign off at stages when they are required. They will do this at various stages of the house build, so if the roof is on for example, and there are no signatures from the inspectors on the council plans, make sure you enquire why this is. The consequences of not having a valid Code of Compliance Certificate can lead to your house and contents insurance not being valid for example, or problems selling the property later on.
7. How do the contract and payments work?
There are typically two types of contract – a “Turn Key” contract and a “Drawdown” contract. A “drawdown” contract is more complicated and you will need your mortgage broker involved throughout the process as some banks will only approve your loan for a 6 month period with this type of contact. Clients will often need to re-apply to the bank for confirmation of finance and if this coincides with a drawdown of building costs, it can lead to delays and unneeded tension. A “Turn Key” contract can mean two things; one, you sign a contract to build and pay a deposit to the builder, normally 10 – 20% of the total cost. The balance of the price is paid on issue of the Code of Compliance Certificate. Or, it can also be used to describe the completeness of the package, typically including such items as landscaping, drive ways fencing etc. everything basically, so that the day the house is finished you can move a tenant in to rent it, or move in yourself. If the contract is a drawdown of a “milestone” contract, this refers to a more standard contract where you pay as you go. Typically, a 5- 10 % deposit is paid at the beginning, then further amounts are paid to the builder at different stages or “milestones.” These may be when the foundations are complete, the roof is on, the house is closed in, lined etc. Normally these payments will be around 5-10 payments, depending on the contract and each builder. It is important that you get your broker to check that your bank doesn’t require a valuation at each one of the stages, as this will cause delays and additional costs to you.
8. What guarantees do I get?
Is the builder a Master Builder or a Certified Builder? Are they a licensed Building Practitioner and to what level? Also ask, do I get a Home First guarantee? Make sure you understand all of these and what comeback you have if things go wrong. Also check what insurance policy covers the build while it is under construction and when do you need to take over the insurance? Make sure you see the policy certificate. If the builder self-insures, do checks to make sure that they have the finance to cover a rebuild if it burns down. Also check that their insurance policy covers any damages they might inadvertently cause to a neighbour or a power line or a water main?
9. What don’t I know?
This is the hardest one as everyone thinks they know it all and we always ask our friends and family first. As soon as you say you’re planning to build, everyone suddenly has an opinion and are a professed expert! (Even though they have never done a build!). In truth, the answer is more than you think, so always check and ask questions. Do ask advice from people in the industry, like me! Don’t always phone a friend! They have opinions which can have no grounding at all. If you do seek advice, then make sure you understand it.
10. Am I getting what I think I am?
This is the classic situation I have come across – often the specification says one thing but the show home has another, or the sales person has told you whatever they needed to do to get the sale. I have seen it all before! If the contract doesn’t have a picture of the products and a product number which you can research then make the sales person add it in. For example, floor coverings can mean a myriad of things so know exactly what it means. Have it drawn on the plan which rooms have carpets and where they are placed? Check which rooms have tiles or a wooden floor, what kind of wooden floor it is. Is it the builder’s choice – hmm I wouldn’t sign that!?
Perplexed by Pokémon Go? Find out what all the fuss is about!
Are you perplexed by the world of Pokémons? Do you feel like you’re the only person in the world who doesn’t really grasp what Pokémon Go is all about? Well, believe it or not, you’re in good company especially if you’re over 45! In this article we unravel the mystery of Pokémon Go so that you can talk knowledgeably about Pokéstops and Pokéballs to your office colleagues or children.
What is Pokémon Go?
Pokémon Go is a free augmented reality game that is based on the original Nintendo handheld console games that were popular in the late 1990s. Pokémon are exotic creatures that take on a variety of forms including rats, snakes, dragons, trees, eggs and swords. And in Pokémon Go players move around physically in the real world to capture Pokémon. Your phone’s GPS and clock will detect where and when you are in the game and will make Pokémon appear around you on your phone’s screen. As you move around, different types of Pokémon will appear depending on where you are and what time it is. To catch a Pokémon, you need Pokéballs, which you can obtain by checking in at Pokéstops. These tend to be situated close to local landmarks such as churches, fountains, parks and so on. As with the original Pokémon games, there are a total of 151 creatures to collect.
Why is Pokémon Go so popular?
One of the main reasons the game is proving to be so popular is that it is free to download on Android or iOS. This also makes it readily accessible to the vast majority of mobile users.
Another reason why it is so popular is the augmented reality aspect. Augmented reality relates to the interaction between the game and the real world. In fact, it’s not the first time that this approach has been adopted in gaming, but it certainly is the largest application of it. Pokémon are not real, but in this game it can almost feel as though they are and that appeals greatly to the imagination of both young and old.
Another aspect that appeals to both young and old is the competitive side of the game: who can collect the most Pokémon in the shortest possible time. In fact, there have been reports of people getting into punch-ups and arguments when hunting for Pokémon! That’s perhaps taking it a bit too far, but there is no denying that the competitive and social aspect to the game is engaging.
Whatever the reasons are behind its popularity, there’s no getting away from the fact that it’s taken the entire globe by storm and that in itself is sustaining the Pokémania!
So with this basic lesson in Pokémon Go under your belt at least you’ll be able to sound as though you know what you’re talking about, or you may even feel equipped to go out and capture a few Pokémons yourself!