Growing Your Business

Not every business owner wants to grow their business. For those that do, this section offers ideas on how to go about it and what you need to watch out for along the way. There is more than one way to grow a business and these articles will explain how.

  • How the new 90 day trial period can make your business more money
    Subscriber Only Business owners have known for some time that the introduction of a 90 day trial period could save them money and hassle if they end up making a bad hire. However, few have cottoned on to how the new trial period could increase the value of their business. Let me explain how by looking at some statistics. - read more
  • Why running your business is no different to running your car
    Subscriber Only Jason had travelled the length and breadth of New Zealand in his VW Beetle, but strange noises under the engine in a desire for more acceleration off the lights, meant it was time to move on. His Beetle was going to be the deposit on his new car … that was until he realised he couldn’t sell it. - read more
  • How to set up a joint venture without exposing yourself to unnecessary liability
    Subscriber Only A demand letter made Sarah’s heart sink. A $10,000 debt which she knew nothing about, yet her name was going to appear as the Defendant in court proceedings. When she rang up Malcolm, it transpired that the debt was for advertising spend she knew nothing about and would never have approved. Yet her neck was now on the line. - read more
  • The Difference between franchising and licensing, and why it is no different to Lego
    Subscriber Only Thinking growth and not sure which way to turn? You’ve heard the stories of businesses launching franchise systems and seeing people making lots of money from it. In short spaces of time, brands have exploded nationwide with relatively little capital outlay from the franchisor compared to opening up successive retail outlets as part of a corporate expansion. You have also heard of licensing and wondered what is the difference between the two. Well the best way to think about franchising and licensing is to open up the toy cupboard and reach for one of the world’s best selling toys – Lego. - read more
  • Why Business Tenants should proceed with caution
    Subscriber Only With commercial vacancies in New Zealand’s main commercial centres tipped to go above 10%, many businesses may be tempted to get bigger or better premises, or open up new offices to take advantage of lower rents. However, the future has never been more uncertain than in the current economic downturn and businesses are well advised to look carefully before signing any documents which could ultimately spell financial disaster later on. - read more
  • Will your business survive the economic recovery?
    At 30 kilometres Adrian hit the wall. His body just stopped, unable to run any further. He looked down at his feet and he barely had the energy to put one foot in front of the other. As he looked up, he saw runner after runner pass him as he saw his target marathon time slipping away before his eyes. The current economic downturn has been a marathon for each and every business in New Zealand and we are not out of the woods yet. But with the end in sight, will your business suffer like Adrian, or will it sprint towards the finish line? - read more
  • When a memorandum of understanding is better than a legal agreement
    With the deal nearly done and everyone feeling warm and fuzzy, the last thing you want to do is slap a 10 page legal document on the table and kill the mood. It would be like getting to second base and your mother dropping round for tea unexpectedly. So, is there an alternative to a full blown legal agreement which might not kill the mood but secure the deal? - read more
  • Why you need to get your documentation sorted for 2011
    Normally when I go on holiday I think very little of things like travel insurance and the terms and conditions of my airline ticket. But as I sit here contemplating whether to board a plane this evening to snow covered London, these two documents are at the forefront of my mind. We all need to adopt the same approach to documentation in our businesses and below explain why. - read more
  • Will blockchain impact your business?
    Fake news, money laundering, identity theft, email scams and privacy breaches. This is the world in which we currently live and it has forced most to live their lives with an air of scepticism. Who or what can you now trust? In the ‘first world’, we tend to trust our governments and some large corporations to be responsible. The same level of trust does not exist in other parts of the world. Trust, particularly in an online environment, is the biggest issue facing modern society but a relatively new technology hopes to change all that and could be the next biggest innovation since the internet. It’s called blockchain. - read more