Business Incorporation

If you seeing in your company one or more of the following signs, you will probably be in need of a business advisor:

1.    Lack of clear direction in the company – The company will experience symptoms such as individual role execution where it does not contribute to the success of the company, conflicting objectives over departments and divisions, and wastage of resources. Business advice will relate implementing an adequate vision, tactical strategy and operational execution disciplines.

2.Lack of formalised business plan – The business advisor will ensure that an adequate business plan is formulated for the company formalising the direction, resources required, abilities of the company and the future financial position of the company.

3.    Steady escalating costs – The business advisor will analyse the current and future operational and capital  epxenditure and present business advice as to the applicability of the costs and the benefits derived by the company incurring these costs.

4.    Service delays or late deliveries of products – The business advisor will assess the current defined accountabilities and the processes used for the delivery of services and products. Futhermore, the business advisor will investigate customer complaints and trace them to breakdown points. Business advice presented will include enhanced processes, accountabilities, service delivery standards.

5.    Lack of information about competition or market – Inadequate information can lead to incorrect or lagging market responses and outdated services and products. Companies are also constantly threatened by new entrants and current competitors changing services and products thus dramatically shifting the market segmentation.

6.    Frequent cash shortages – Profits do not always translate into cash. Cash shortages will severe disrupt the ability to increase the using of resources or sustaining current commitments. Business advice will include an analysis of working capital cycles, debt structures and price/volume sensitivity.

For business advice please contact Christo van Huyssteen on christo@bizrite.co.nz or 0800200500

Small Business Advice business, business advice, business management, business plan

Daily newsletters that provide business advice to businesses just starting up, as well as marketing advice and financial assistance provided by the SBA, are all resources that can be utilized by the new business owner. The Small Business Administration was created as an independent agency of the Federal Government to aid, counsel and offer protection for small businesses. These resources can range in price from very little to highly expensive.

The Small Business Administration offers most of these services under one umbrella. The one service that an entrepreneur will probably find the most helpful is the free online training through the Small Business Training Network. Online education is offered in starting a business. You can find information on business planning and writing a business plan, business management, finance and accounting, advertising and marketing, e-commerce and website building, international trade and retirement planning. Each course generally takes about 30 minutes to complete and is self-paced. For small businesses that are just starting out, the knowledge offered by these courses is a necessity.

For businesses that are just starting out and are seeking advice, the planner offered on the home page of the Small Business Administration website is a wonderful tool. It allows for everything from developing a business plan, growing the businesses profits, and planning for retirement. Advice is also available on topics such as advertising and networking, government contracts, software, international trade, healthcare, and grants, both government and private. The Small Business Administration website has links to a wealth of information. For small businesses, the knowledge library and form development links are invaluable. Live chat is available for real-time consulting on almost all of the above topics. Visit the website at http://www.sba.gov for more information.

Other websites and companies, along with private individuals, can offer the same resources for small businesses; however, they may not be reliable as the Small Business Administration. Many established businesses seek to prey on the new and inexperienced business owners. For that reason, it is important to ensure that all advice received is trustworthy. One piece of bad advice can leave a business bankrupt, or worse, in trouble with the IRS. Care should be taken to check and double check all information and make sure advice is both taken and used in the proper context.

Small Business Advice business advice, business plans, entrepreneur, for small businesses, marketing solutions, SBA

Business planning feels sometimes like visiting the dentist – you know you must do it, but you keep putting it off

Historically business plans were prepared to obtain finance and subsequently filed away. Larger corporations prepared business plans internally to justify operational and project budgets. These business plans were seldom revisit and the accuracy and completeness were always questionable.

Regardless of the size of your business, it is imperative to be incredibly focused within your business. In depth focus can only be achieved through proper planning. This can be achieved through the use of structured business plan, sound business advice and ongoing evaluation against the plans.

The structure of the business plan should include:

•    Current market situation – Understand your current market environment, including its size and the share you can realistically achieve. The size of the market will depend on market trends, target customers and competition.

•    Current target customers - Evaluate the characteristics of the target groups of customers that could buy from your business.

•    Competitor analysis – The level of competition and the strength of the competition will provide an indication of how difficult it will be for you to attract customers.

•    Marketing strategy – Detail the objectives and targets for the volume and share of the market you hope to achieve and when you want to achieve it by.

•    Marketing plan – Explain in detail how you going to achieve your marketing targets and objectives.

• Sales Goal and objectives – Details your sale forecasts in terms of different product types by volume and value.

• Operational requirements – Draft an outline for your business plans for premises, equipment, staff, suppliers, compliance and estimated costs.

•    Current financial requirements and financial forecasts – Includes a breakdown of your financial requirements, the sources of finance available and any shortfall that will require funding.

•    Management processes – Consider key skills, responsibilities, and management processes needed.

• Business risks – Lists the risks your business is exposed to and how you plan to mitigate it.
Closing remarks

No-one knows the pitfalls of planning and running a business better than persons who have done it. Rather than wait too late, contract business advice in if you do not have the necessary expertise. Experts can not only provide business advice for your business planning procedure but will become advocates for your business, cheering it on!

Small Business Advice business, business advice, business management, business plan