Fun fact! 97% of all businesses in New Zealand are small businesses (NZ Stats 2021). Running a small business is part of our nation’s DNA
Have you ever thought of starting a business? Here is a list of fundamentals you need to create an epic Kiwi business that you and your customers will love:
1. Develop a long-term vision
Develop a business plan that maps out the long-term goals for the business. Also, develop the discipline to constantly be working on this vision and bringing your business plan to life.
2. Create an effective sales and marketing strategy
By developing a comprehensive marketing or digital public relations strategy, you will be able to better understand your target market, and know which media channels to find them. Ultimately this will result in a clearer understanding of the unique offering you provide to potential customers and the pain point it addresses.
3. Develop effective systems and processes
Having effective systems and processes right across the business will ensure that all the operational elements of your business are running as effectively and efficiently as possible.
4. Measure Everything
Set up key performance indicators not only for your financial objectives but also for staff performance, quality control, marketing and sales. This will help you know how your business is really tracking and can help you spot problems quickly and often ahead of time.
5. Develop Leaders
A business that can be managed by others is a valuable business. The development of people is essential to business growth as the delegation of responsibility allows the business owner to be more strategic and focus on the things that grow the business.
6.Use a Business Advisor or Mentor
A good business advisor will not only provide a sounding board to help with decision making but long term will be the ‘enabler’ that will keep the business on track, accountable for achieving objectives, and make the business owner accountable for achieving the overall strategy and vision.
We hope you found these six tips helpful. Our members receive access to an ever-growing resource section full of valuable articles like this, free templates and more for a low annual price. Check out our membership benefits page to find out more – we’d love for you to become part of our SBNZ community!