FOOD FOR THOUGHT

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Insights and tips that will have a positive impact on your business


3 financial performance measures every board member should be tracking

Posted by Mike Atkinson on February 10, 2016

Maintaining a financially healthy and profitable business is a challenge that rests on the shoulders of every board member. Left unchecked it is easy for profitability to be gradually eroded away.

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Topics: SME Governance

Is a lack of financial savviness hurting your governance model?

Posted by Mike Atkinson on February 04, 2016

Every governance model relies on its board members fulfilling certain skill sets or roles missing from a business. This could be anything from experience with a specific export market or lean manufacturing operations.

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Topics: SME Governance

The best business coach for your business

Posted by Matt Bellingham on December 17, 2015

A good business coach should inspire positive change. They should be able to bring different perspectives to the table, challenge your way of thinking, push you outside your comfort zone and support you when required.

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Topics: Business Strategy

Should your business accountant be sitting on your governance board?

Posted by Aaron Wallace on December 15, 2015

High performing boards often employ an independent adviser who can bring discipline, experience and objectivity. And certainly having the external accountant or company lawyer on the board is common; but it is important to remember that these professionals should act in an advisory role with a ‘big picture’ or business focus.

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Topics: SME Governance

4 reasons to employ a virtual financial controller

Posted by Mike Atkinson on December 11, 2015

For most SMEs, having a full time CFO in place is often not a reality – particularly one that can provide strategic thinking, progression and profitability. So here are the four main reasons that implementing a virtual financial controller (VCFO) is a viable option to help your business grow.

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Topics: Business Improvement

How to find the best accounting firm for your business

Posted by Mike Atkinson on December 09, 2015

Recent findings from a survey by Perceptive Research found that a majority of business owners thought that, outside of compliance, there was little additional value that an accountant could bring to their company - which is a little startling. 

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Topics: Financial Management

Preparing a business plan to see you through the holiday season

Posted by Fono Sosene on December 03, 2015

The big guy in the red suit is not the only person who needs to be organised at this time of year. Businesses can’t afford to get too carried away over the silly season and should think about preparing a business plan to see them safely through. This is because there are a few things that, if not taken care of, could hurt them early on in the New Year.

 

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Topics: Business Improvement, Financial Management

Hollywood reminders of the importance of good IT governance

Posted by Mike Atkinson on December 01, 2015

We all know that change is coming, it’s a certainty. And we probably all expect that change to be in the form of technology, but just how fast is it moving and what are some of the potential impacts of disruptive technologies?

 

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Topics: SME Governance

What an advisory accountant can tell you about IT

Posted by Aaron Wallace on December 01, 2015

IT is, without a doubt, the ultimate game changer. Businesses deploy new technology to reduce costs, increase efficiency, improve transactions, streamline information flows, and, at the end of the day, drive revenue.

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Topics: SME Governance, Business Improvement

3 Strategies to help reduce margin pressure in your business

Posted by Mike Atkinson on November 26, 2015

Almost every business will experience a rise in costs somewhere along their supply chain: raw materials, manufacturing, transportation, wages and more. Between these rising costs and growing competition many New Zealand businesses are experiencing significant margin pressure, which is in turn eroding profits.

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Topics: Costing and Pricing

7 rules to effective business strategic planning execution

Posted by Mike Atkinson on November 24, 2015

Developing and finalising your business strategy is not the complete picture. For any strategy to be effective it must be implemented well. So here are our top seven rules for strategic planning execution.

 

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Topics: Business Improvement, Business Strategy

How to minimise tight cash flow in your business

Posted by Mike Atkinson on November 19, 2015

According to a recent survey of New Zealand business owners and CEOs undertaken by Perceptive Research, the top two indicators used to evaluate business health are: the state of the business’ bank account, and profit. Surprisingly only 3 per cent of respondents cited cash flow.

 

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Topics: Cash Flow, Business Strategy

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