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A Success Story of Horses and Engineering

Many of our clients are undergoing The BSP Advisory Business Success Programme, with the end goal of exiting their businesses more profitably.We already have a great success story on this scenario in our September post here.There are many other business owners on the programme are all about building a solid profitable foundation for today and increasing financial security and freedom.Having a profitable, systemised business means not only a better lifestyle for the owners, but also a better...

December 12, 2023

Keeping Your Business Afloat: Practical Tips to Prevent Insolvency

In the latest business statistics (Feb 2023), 63,192 businesses have ‘died’ this year, and 99% of these businesses have 0-5 employees. That is a lot of people who took a chance to realise their dream of being their own boss and somewhere along the line it went wrong. So, what can you do to ensure that you small business thrives?In this blog, I will explore some practical and positive tips that can help you safeguard your business against insolvency....

December 8, 2023

Are you building a business of value, or do you simply own a job?

Many entrepreneurs set out on their business journey with grand aspirations of creating a thriving enterprise that not only generates profit but also builds substantial value as an asset. However, for many, the reality can be quite different.The systems we implement with our business owner clients are specifically designed to address this disparity by delivering three critical outcomes:...

November 8, 2023

How a Cambridge NZ Couple Successfully Sold Their Business

I had the pleasure of talking with Toni and Keith Paton last week who successfully sold their business last year and have been enjoying retirement ever since.They had just returned from a motorhome trip around NZ and were excited to share their experience in selling the business.A key insight from this is that while Toni and Keith ran a successful business, it wasn't as prepared for sale as they initially believed.What started as a plan to sell the business turned into a succession planning prog...

September 6, 2023

Maximising Business Value for Exit: Upcoming Workshop

Held in association with Small Business New Zealand, we're hosting an insightful workshop titled "Maximising Business Value: Succession Planning & Exit Planning for Small - Medium Businesses".This event has been tailored to support you as a business owner in navigating through complex future planning scenarios and ensuring your enterprise is not just sustainable, but thriving....

August 1, 2023

When Life Throws Lemons at Your Business: Escaping the Negativity Spiral

They work hard day in and day out to ensure the success and well-being of both their lifestyle and their venture. However, despite their efforts, they often find themselves trapped in a loop of negative thinking, stress, and overwhelming emotions. Does this sound familiar? Perhaps it is negativity bias....

July 4, 2023

Fast 5: Mastering Cash Flow, the Lifeblood of Your Business

It's the heartbeat that keeps your operations running smoothly and allows for growth and opportunity. In this Fast 5, we'll explore five essential strategies to help you optimise your cash flow and ensure a healthy financial foundation for your business....

June 7, 2023

The Hidden Impact: How Stress Affects Your Business and What to Do About It

Running a business is an incredible journey, but it's not without its challenges. As a business owner, you carry a heavy load of responsibilities - managing finances, driving growth, leading teams, and making critical decisions. These demands can sometimes become overwhelming, leading to stress and anxiety that not only affect your personal well-being but also have a significant impact on your business.In this article, we will explore the hidden impact of stress and anxiety on you as a business ...

June 7, 2023

Succession Planning vs Exit Planning: Key Differences and How They Benefit Your Business

Exit planning is the process of planning for the eventual sale or transfer of a business whereas succession planning is the process of identifying and developing internal employees or family members to fill key leadership positions with the aim of taking over the business one day. Issues exist for both topics and expert guidance and advice is recommended....

April 28, 2023

The Positives of Working With a Business Advisor - Daniel's Story

Their passion is helping people discover their purpose and personality, putting it into a visual context so their clients can take themselves to market, achieve their goals, reach their customers and, ultimately, do what their business is built to do.Slaughterhaus specialises in design and brand strategy and brand identity, with projects ranging from small local businesses and restaurants through to large scale, national corporations working with clients throughout the world....

April 4, 2023

Leveraging Digital Marketing for Small Business Success in New Zealand

For small to medium sized businesses, if well executed, digital marketing is a tremendously cost-effective way to reach potential customers and build brand awareness.Digital marketing includes a range of tactics such as search engine optimisation (SEO), pay-per-click (PPC) advertising, content marketing, social media marketing, email marketing and mobile marketing to promote a business, its products or services, and engage with a target audience....

April 4, 2023

Who's your ideal customer? Knowing who they are can really help your bottom line.

Written by Simon Zust, BSP Advisor for the Canterbury Region....

March 31, 2023

Understanding Leadership to Grow a Successful Business

This extends to both executing quality leadership and fostering leadership development in your business....

March 13, 2023

Managing Succession in a Family Business – Challenges and Success

Either way, difficulties can arise during the transition and what starts out as a simple process can soon turn more challenging....

March 13, 2023

How much should I sell my business for and is it the right time?

At BSP Advisory we deal with many New Zealand businesses across a broad range of industries and one of the common questions we get is “How much should I sell my business for and when is the best time to sell?”...

February 3, 2023

How to acquire new clients and reduce acquisition costs

Without a cost-effective, monitored strategy, advertising budgets can be wasted and results versus planned growth forecasts can come up short!Here are 5 ways to get new business and reduce client acquisition costs....

January 16, 2023

Study Reveals Surprising Results After Interviewing 1500 NZ Business Owners

Business owners in New Zealand face a lot of issues on a daily basis, and some of those are out of their control such as labour availability, recruitment and inflationary pressures. The past years of Covid have also had a huge impact on business so we thought it was timely to check in with business owners about their current situation. Through this, we were a little surprised to discover that 51% identified that achieving work/life balance was the main thing they wished they could change in the...

December 5, 2022

A Must Read for Every New Zealand Business Owner Over 50!

There is no doubt that New Zealand business owners have been on a rollercoaster ride for the last 2 years with Covid. Throw the current recruiting issues and the effects of inflation into the mix and it’s no wonder there are a few sore heads. We don’t want to add more fat to the fire, however, recently released statistics are showing a trend that we feel you should know about, particularly if you are looking to exit your business at some point....

November 23, 2022

Will your business Thrive & Survive in 2023?

With high inflation, high interest rates and increasing wages, all signs point to 2023 being a year in recession. That said, sound preparation and strategies can do a lot to help offset the effects of any economic downturn. What should you be doing in your business right now to put your business in the strongest position possible to manage a recession? We asked several business experts from the BSP Advisory team for their advice:...

November 21, 2022

Reach Your Business Goals with Business Success Partners

With only 4 months left until the end of the year there is still time to complete your business goals. If you are struggling to tick those goals off - it’s not too late to bring some help on board. Our Success Partners are dedicated to helping you reach all of your business goals and are great sounding boards for all ideas. If you are interested in getting a business mentor, Get in touch with us today....

September 2, 2021

Effective Exit and Succession Planning: Planning your Business Exit to Maximise your Wealth Opportunity

In our latest video, succession planning expert Phil Wicks explains the importance and value of having a solid exit and succession strategy. Any business owner over 50 should watch this video. Feel free to leave a comment and any questions you may have....

August 14, 2020

Spousal Business Partnerships - Turning Problems into Profit

The demands of business ownership add another level of stress and complexity in spousal relationships that can, in some circumstances, create issues for the whole business. When a couple operates a business together, their individual roles are generally clearly defined. What may not be so clearly defined is how to manage conflict when it arises. A working relationship, that is also a life partnership, has different dynamics than that of a normal business partnership. In the former you are dealin...

July 14, 2020

The “Great Business but I Have No Life” Paradox – And How to Solve It!

As a director of a nationwide SME advisory firm I have, over the last few years, been in a unique position to develop a deep understanding around the needs of business owners across many industries. The Number One Long Term Goal of Most Business Owners There is one common goal that is almost universal among all of these business owners, but unfortunately most will never achieve this goal, despite the fact the goal itself is, with a good plan, more achievable than many realise. So, what is that g...

February 7, 2020

Worrying new phenomenon blamed for plummeting business values in New Zealand.

If you own a small to medium sized business in New Zealand and selling up is on your mind, then be prepared for some stormy weather ahead. A recent survey showed New Zealand has more than 90,000 businesses owned by people aged 55 and over. Most of them will exit from their business within 5 to 15 years.Another survey indicated that 40% intend to leave the business in the next 5 years and 60% of them plan to use their business sale as their primary source of retirement income* In short there will...

February 3, 2020

The Biggest Business Issue Facing NZ Business Owners in 2020

We all know business owners in New Zealand face a lot of issues on a daily basis, and some of those can be a real challenge. It may come as a surprise for you to learn the results from a recent survey conducted by a business consulting firm, where NZ SME Owners [Small and Medium sized businesses] were asked what the biggest issue is in their businesses. “51% of the people interviewed, identified that achieving work/life balance was the main issue in their business and 41% identified their issu...

January 23, 2020 Posts 1-25 of 93 | Page next