While discounting has its place, even in difficult times, businesses must ensure that they are still covering their costs, which includes a reasonable return for the owners. If discounting to quit slow and obsolete stock, use this opportunity to persuade customers to buy higher margin products as well. Pricing strategies that use ‘loss leaders’ toRead more
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Helen Keller said – “Alone we can do so little, together we can do so much.” Building a great team is one of the most important things a leader can do. It starts with selecting people with the right expertise who are great communicators and can accept feedback. Each team member should be clear onRead more
A core responsibility of directors and trustees is overseeing their organisation’s compliance with regulations. This requires them to be alert to both changes in regulations and to the impact that the current operating environment might have on their organisation’s ability to comply. A key priority is ensuring that the organisation is, and will remain, ableRead more
New Zealand’s pandemic response has resulted in numerous shifts in the way that we do daily life – some may be temporary, but many will remain as the ‘new normal’. The challenge for organisations is to take advantage of these changes while operating in uncertain times. Here are some thought starters for organisations seeking toRead more
Do ‘blockages’ prevent your organisation from advancing to the next level? Or perhaps one strong personality stifles creativity and initiative by dominating culture and decision-making? This experience is common, especially when the organisation has reached its current success through one- or two-people’s hard work and tenacity. While it is not necessarily easy for the organisation’sRead more
Wondering what your business is worth? Business valuations is an inexact science, ultimately a business is only worth what someone is prepared to pay. One common valuation method – cashflow or future earnings – uses a multiplier of either the current revenue or net earnings to value goodwill. Another method values the assets including theRead more
I recently visited Castlepoint. Like most visitors our stay included a walk to the lighthouse, however our plans were foiled by a grumpy seal blocking the path while sunbathing. It was interesting to watch people’s responses to this ‘blockage’. Some, like us, could turn away. We explored other places that we might not otherwise haveRead more
Well, that was an accident waiting to happen! How often do we hear those words after something breaks or there is physical injury? In the workplace it is never acceptable for someone to know that something might cause harm and yet do nothing about it. Apart from personal injury, accidents and incidents can affect staffRead more
Simon Sinek’s ‘How great leaders inspire action’ remains one of the most popular TED talks ever. Sinek says ‘people don’t buy what you do, they buy why you do it.’ Research from a cross-section of industries has proven that organisations that put their ‘why’ at the centre of everything they do are more likely toRead more
In reflecting on my work in 2019 I have been reminded that: Organisations delivering social or environmental good are more likely to survive in the long term. Big goals can be achieved by taking small steps. Great solutions can come from unexpected sources. Results improve when we seek and receive help. An understanding of criticalRead more