BUSINESS buddy has entered The People’s Choice category of The David Awards 2017. With just one click, you can vote for us.
The BUSINESS buddy team is small and determined. They are relentless about delivering their promise to their clients, recognising success comes from its clients' success and their key principle is “Growing your business is our business.”
As business owners, we can all get so busy focusing on the day-to-day running of our businesses that it can feel impossible to find time to analyse what we’re doing and planning for the future.
BUSINESS buddy realises that there is always something on the to-do list that just can’t wait, however exercising your business skills you will improve your entrepreneurial fitness.
The homeware and furniture industry has been doing well for the past couple of years, and we expect this trend to continue. The annual expenditure on furniture per US consumer was $502 in 2015 (up from $386). Meanwhile, a report by Furniture Insights found that furniture orders for February 2017 were up 4% from last year.
In a bold move, BUSINESS buddy has opened a bitcoin account and now we can accept and make payments with the digital currency.
We have done some homework and discovered the background of bitcoin and how businesses can use it.
It is, to say the least, confusing. Here, BUSINESS buddy has a go at explaining and simplifying the futuristic currency.
BUSINESS buddy has pulled off a HUGE coup and have arranged for one of the world’s leading business thinkers and speakers — Paul Dunn — to present a stunning business-building event right here in our region.
We're bursting with excitement and we want to share that excitement with you.
Advances in technology over the last two decades have shrunk the world; travel is inexpensive, cross border payments are fast and businesses communicate in real-time.
If you’re in business, making decent money is important. Sometimes, though, it doesn’t always work out the way you’d planned...
More and more manufacturing companies are beginning to use cloud-based manufacturing systems to improve the way their business functions.
Many small business owners don’t give a second thought about the need for clear communication.
You need to keep track of transactions for the tax office, lenders, but most importantly for yourself, as a business owner.
Helpful and informative retail books abound everywhere you look these days.
The thing is, employee wellbeing and happiness isn’t just about nap rooms, onsite massages, and cafeterias serving healthy food and snacks (though that would be nice!)
Every business owner knows that as soon as you start hiring people, there’s a whole heap of important and must-do HR related tasks and compliance requirements that goes with them.
Machine learning has the power to change how we look at field service – what it means to contractors and customers alike.
Due to the nature of the distribution model where distributors profit by selling inventory to their customers, failing to manage inventory well can be a major liability for distributors.
Have you ever sat back and wondered how giant companies such as Apple, Walmart and Ikea became so successful both in their reach and their inventory turnover?
Over the past five years, mobile devices have begun to dominate the consumer landscape around the world.
Businesses today are quickly adopting cloud software as the benefits become more apparent and even necessary to keep a competitive edge – benefits like less paperwork, greater efficiency, and time savings.
Even if a business has some other, high value, assets such as factory plant, inventory is likely to essential to the business’ ability to trade profitably.
It’s the Holy Grail of business: increasing the number of profitable hours in a day.
It’s an election year and immigration is a hot topic. Migration to New Zealand is at a record high and while it has significantly boosted the economy, some say it has contributed to Auckland’s housing crisis and pushed infrastructure to breaking point.
In April 2017, the Government announced changes in criteria for people applying for residency under the skilled migrant category (SMC), to stabilise immigration numbers.
How do you know which Xero Accounting Add Ons to use?
Look at a company with a reputation for strong employee engagement and you’ll find a high performing business. We’re not making this up.
Knowing what your payroll costs are – daily, weekly, monthly and yearly – is an important part of running a successful business. It allows you to forecast future wage costs, ensures you don’t have any surprises come pay day, and gives you confidence in the stability of the business.
But do you know the TRUE cost of your roster?
That’s the Jammie Army done and dusted for another year. Thanks to the generous people who sent snuggly pyjamas into BUSINESS buddy headquarters.
With the recent spate of cyberattacks causing havoc to businesses and individuals around the world, it has become evident that hackers are more threatening than ever before.
When Number Nurses won the marketing innovation award at the New Zealand Bookkeepers Association conference we nearly needed some CPR to control our racing heartbeats.
Remember the old (and slightly misogynistic) phrase Happy Wife, Happy Life! ? Well, it turns out there is a workplace equivalent: Happy workers, productive business! (and no – we couldn’t make it rhyme).
Inaccurate information about your company’s expenditure can greatly inhibit your capacity to make and maintain a successful business.
Retailers have historically dominated the commerce landscape. Several years ago, industry trends and top products were set by the stores selling them.
When a visitor spends time browsing your online store or bricks-and-mortar outlet, they’re looking for something. And when they find it, they’ll be tempted to buy it.
Small and Medium-sized Enterprises (SME) are companies that are independently owned and managed with less than 250 employees in their ranks and bringing in less than 50 million euros per year.
It doesn’t matter how large or small your store is, or how many of them you’ve got—if you’ve got a point of sale (POS), you’ll see big benefits in switching from a simple cash register to a full-featured, cloud-based POS platform.
Staff training is one of the best investments you can make for the future success of your business.
Picture this: You’ve just about closed a sale, and the shopper made up their mind to buy a product. What do you do?
Are you equipped to handle retail theft and robberies? Whether you answered yes or no to that question, keep reading.
In April this year, Elon Musk (CEO of Tesla and SpaceX) publicly announced that his company, a startup in California, Neuralink, is developing a neural lace technology that will enable human beings to communicate with devices through their thoughts alone.
Knowing what your payroll costs are – daily, weekly, monthly and yearly – is an important part of running a successful business.
The idea of starting your own business and being your own boss has become more popular in recent years.
Phenomenal leaps in technology often polarise people, with some loving the new developments whereas others prefer a more tried and true approach.
The America’s Cup yacht racing is a great example of bold innovation that people either embrace or reject – even if they couldn’t care less about sailing.
Winter is here and BUSINESS buddy needs you to help battle childhood illnesses that no tiny tot should have to endure.
Snuggling up at home in a warm pyjamas can be all it takes to keep little ones out of Kidz First Children’s Hospital, at Middlemore in South Auckland.
Collaboration is the key to success for every business—that’s what 75% of CEOs believe. It’s a way of bringing together diverse minds and ideas and sharing resources to create something bigger and better than individuals could achieve alone, and it’s gradually becoming the status quo for modern businesses in all sectors, including retail.
The Isle of Skye Candle Company’s first batch of candles was made in a converted croft on the Isle of Skye in 2006, and since then the company has been lighting up across Scotland and the UK.
Another New Zealand Budget has come and gone and there was not much to excite tax payers or small and growing business owners.
The Minister for Small Business, Jacqui Dean is reported as saying there are plenty of stimulants that will put more money in people’s pockets – hence increasing their expenditure, which may help the retail sector.
It can be unwelcome news that the success of your business is, in part, out of your control. If your business involves importing or exporting inventory, it pays to be aware of and be prepared to mitigate potential impacts of trade policy on your business.
It’s no debate that the world is becoming increasingly globalized. Despite some barriers to entry into international business, geographical expansion and the use of imports and exports has become easier and more prevalent. Regardless of the size of a business or where it chooses to operate, one necessity remains constant, and that’s the need for accurate costing.
BUSINESS buddy is proud as punch to have provided 3,385 doses of vitamin C injections, 25 days of bookkeeping, with another 10 days pending, and supplied 2,310 medical items for less fortunate four-legged friends.
In June 2016, our head honcho, Kirsten Hawke signed BUSINESS buddy up to B1G1 – a global philanthropic programme businesses can join to support people in developing countries.
Working at home has its advantages. The commute is negligible, it’s much cheaper, you can bring in the washing if it looks like rain and work around children schedules and nap times.
On the other hand, there are negatives. Client meetings may require a tidy up and a vacuum, taking on employees means having them in your private home, isolation from the rest of the world, no handy coffee shop next door for your caffeine fix.
China-watching is mandatory for many people in business.
The world’s most-populous nation looms large on the global stage in politics, commerce and sport. Its 300 million aspiring middle class citizens – still a small part of the total population - are increasingly sophisticated in their consumer activities, travelling a lot more and further, and pursuing business interests on all continents and the South Pacific region.
You almost certainly started your business for one of two reasons: you can do something better than anyone else, or you have a burning passion so deep you cannot focus on anything else. And if you’re lucky, it’s both. You didn’t start your business because you wanted to track cash moving in and out of your bank account. Nor to complete complicated forms for the government. You hadn’t even contemplated how business software could help you do these tasks, mostly because you didn’t know you need to do them.
Many small business owners start out with a good business idea but little concept of what it takes to manage and grow a business.
The good news is that you can definitely learn and improve your management skills as your business grows.
And while there isn’t a definitive list of skills, the ones we’ve listed below could help you to build your initial vision and develop your business to its full potential.
If you’re an accountant or professional advisor, take heed of a recent decision by the Federal Circuit Court. You may be at risk of accessorial liability for your clients’ breaches of the Fair Work Act.
Running a business is hard and it often feels like there aren’t enough hours in the day to get everything done that you want (or should) do. By the time you pay your bills, invoice customers, return calls, put the final touches on that big proposal, and get the stock order out, the day is over and it’s time to pick up the kids.
Firing employees is probably one of the hardest things you’ll ever have to do as a business owner. It’s also one of the most litigious.
The short answer is patent trolls. The long answer is that using cloud computing to do business may get you sued by patent trolls in the District Court for the Eastern District of Texas.
Striking the right balance between maximum and minimum hours for your part-time or casual staff can often be a difficult process. But getting the balance wrong can have serious and long-lasting ramifications for your business.
Some brick-and-mortar merchants see ecommerce as the force that’s grabbing market share and taking customers away from offline stores. We don’t think this is the case. The way we see it, physical and digital retail aren’t rivals — they’re allies.
I’ve heard it said that it’s a sales rep’s job to promise the moon to customers, and it’s a service rep’s duty to bring customers back to earth.
As a small to medium business owner, getting your inventory management right can sometimes seem like a daunting endeavor. Fortunately, most of the stress involved in developing good inventory practice can be resolved by identifying the right inventory management strategies for your business. That’s not to say that there’s an immediately obvious solution for every problem – there are some tricky issues in inventory management however there are well-documented strategies to help you get the basics right.
The field of marketing never stops evolving. Outdated strategies lose popularity and are soon overtaken by innovative approaches that pair tried-and-tested techniques with new technology. One of the latest strategies is influencer marketing, which takes word-of-mouth advertising and amplifies it through the huge social networks of high-profile individuals. Two-thirds of marketing professionals worldwide are pairing with influencers who can create original content to promote the brand to thousands or even millions of social media followers.
The web is loaded with articles that promise to help you market your ecommerce store, but there’s one really important fact they usually leave out: it takes time to see results from your marketing efforts, even when you’re doing everything right. How come?
The construction industry is a boom or bust business sector and many innocent people are left financially stung when a company goes under.
At the moment, Auckland construction companies can’t keep up with demand and staff members are being poached every day, which is pushing pay scales up.
The cost of materials is also rising and some companies that provide fixed-priced quotes with little room for cost increases are going under or abandoning contracts that are running at a loss.
It’s time to crack open the bubbly and pull the party poppers because according to some political beings – New Zealand celebrated Tax Freedom Day on May 8 this year.
Did you even know such a thing as Tax Freedom Day existed? And, what the heck does it even mean?
The BUSINESS buddies were quite intrigued by the concept of Tax Freedom Day and did some digging to find out more.
Struggling to keep on top of employee timesheets? Want to offer employees a simpler way to clock in and out? Keen to track remote workers’ location throughout the day? Eager to make payroll easier? TSheets, a mobile employee tracking software, is here to help.
Your digital presence as a business is absolutely crucial. If you want consistent work, to build trust in your brand, and the opportunity for growth, you have to know how to gather feedback, and how to embrace it.
Here, we’ve laid out the most important things you need to know about doing just that.
Over the past decade, social media platforms have grown in popularity and digital marketing has become one of the dominant ways for brands to interact with their customers. But digital marketing is more than just social media and, after all these years, email marketing is still one of the best ways to keep your customers informed and interested in your brand.
When you’re the boss it can be challenging to let go of the reins and make someone else responsible for managing a role.
But, if you want your business to grow you have to share the load, and if you do it well, there will be business advantages that you may not have anticipated.
With loyal customers being worth up to 10 times as much as their first purchase, it pays to keep in touch even after you’ve made the sale. After all, they’re not easy to replace—new customers are in limited supply, significantly less likely to buy, and up to six times more expensive to sell to than your existing customer base. So it’s important for retailers to retain their customers by building authentic relationships that benefit both parties.
The craft beer revolution has sparked a unique production for breweries both small and large. Beer drinkers everywhere are seeing an emergence of eccentric flavors and quirky names fill the taps at their local pub. Not only are beer drinkers seeing this emergence, they are demanding it and as a result craft beer has become increasingly popular over the past few years. This popularity has sculpted the way breweries are operating. Craft beer may be infused with peculiar hues, notes and suggestions of ingredients we never would have thought to be vaguely compatible with beer, yet a few staples remain intact in the beer brewing process.
There are now over 500 time saving Xero apps that are designed to help your business work more efficiently. But which are the best Xero apps for your business?
From advanced reporting and time tracking tools, through to tools that make managing inventory and orders in real-time easy, there are a vast number to choose from.
I recently overlooked a GST bill.
The taxman is not okay with that. He wants his money. And fair enough; I want free healthcare and the other benefits of being a taxpayer.
It’s time to address a subject that a lot of companies fail to notice or incorporate into their business planning – the costs of carrying inventory. Inventory costs money to purchase, this much is a given; however the cost of the inventory goes far beyond that. Typically, (if accurate values are not calculated on a case-by-case basis) the total carrying costs of a product are 25% of its value and composed of capital costs (15%), storage costs (2%), servicing and handling costs (2%) and the cost of risk (6%). Let us look at these different components of inventory carrying costs more closely.
If you had just one minute to talk to a prospective customer in your store, what would you say? Would you help them find what they were looking for? Tell them about your current promotions? Encourage them to stay a little longer and take a look around? After all, the more time they spend in your store, the more likely they are to make a purchase.
Keeping productivity levels buzzing is proving problematic for a lot of small to medium Kiwi businesses and the nation lags behind other countries for getting lots of stuff done, efficiently.
Several different factors improve productivity including keeping up-to-date with technology, investing in research and development and connecting with other businesses.
We recently joined the thousands of businesses headed to the Xero Roadshow, an annual exploration of what’s happening in the world of cloud accounting. Much more than just a showcase of Xero’s features, the Roadshow is one of the best ways to learn about the ecosystem.
An efficient, hard-working and friendly team is often the making of a successful hospitality business. So it can be quite disruptive when employees need to take leave.
Cloud software is fast becoming the way to do business. The reason for this? Everything becomes easier, more accurate and more accessible – which, at the end of the day, is the direction a company should be going in. Cloud-based software is basically where everything to do with the program is online. We will look at a few ways that cloud software can help you achieve good inventory management and manufacturing control.
A perpetual inventory system is also known as a continuous inventory system. The premise of this type of inventory system is that is allows businesses to keep a real-time account of what inventory they have in stock.
Social media is a great tool; it’s a route to new and different customers and a direct way of communicating with your existing customers. It’s also a free way to build brand recognition and create a name for yourself in your field.
So it’s surprising that many businesses still don’t have a social media presence. Sometimes this is a conscious decision, but quite often it’s due to people not always understanding the benefits.
The reality is that social networks can bring a whole new dimension to your business – and they’re definitely a marketing tool worth using to your benefit.
Attracting new customers to your ecommerce store is a must if you’re going to make a profit, especially in the early years of running your business. It’s one of the best ways to boost your sales in the short term, and grow your store. But there’s a lot of effort involved in acquiring new customers—it can cost six times as much as retaining your existing customers—so it seems like a shame to let them disappear off the face of the earth after just one purchase.
Campbell Parker is one of the brains behind two of Christchurch’s must-eat restaurants.
Opening in March 2015, Bootleg BBQ is an inner-city destination providing the city’s meat and craft beer lovers with a real taste of American cuisine. The Old Vicarage, which Campbell has owned for the past 10 years, is an iconic restaurant on the outskirts of Christchurch.
Investing is all about risk and return: get the balance right and be handsomely rewarded.
The structure of percentage-based fees often tips those scales in favour of investment platforms and fund managers. Once their asset base grows large enough to cover operating costs, natural market growth and guaranteed inflows create enormous profits, no matter what the outcome for investors.
Safety doesn’t happen by accident. As a business owner or director, you need to be deliberate to make sure everyone who comes to work goes home healthy and safe.
Colour-coded job sheets on clipboards. Customer details stuffed in manila folders. Rooms full of grey filing cabinets overflowing with clip-lock files. Cardboard boxes bursting with service manuals arranged in rough alphabetical order. Handwritten notes, 8am sales meetings in sweaty city offices and well-thumbed street directories in company-car gloveboxes.
Your online store is set up and ready to go. You’ve got an attractive site design and helpful product pages, and you’ve promoted your launch through social media and email marketing. Now all you have to do is sit back and enjoy…but you’re still not seeing the traffic you hoped for. What’s going on?
Being young and aspirational has established a great career pathway for BUSINESS buddy’s youngest accountant, Amy Posthuma.
Following her internship at BUSINESS buddy’s East Tamaki office, Amy was offered a fulltime position as their junior accountant.
The 2016 budget had a few changes to tax laws that come in effect April 1, 2017. Yes, it is April Fool’s Day.
The BUSINESS buddy team has looked at the nuts and bolts and come up with a few pointers.
Manufacturers and inventory obviously go hand in hand, it’s not like you can manufacture anything without the necessary parts. However, even with simpler manufacturing jobs, there are a lot of moving parts, and managing the supply chain can become a complex business. It’s one big juggling act, and if you drop one of the balls it can send it all spiraling out of control. However, with inventory management and modern software a lot of the worries of old can be controlled.
Here’s how inventory management can help a manufacturers business performance.
Whether you’ve just opened up shop or you’re expanding your ecommerce empire, one of the biggest ongoing challenges you’ll face is finding a way to increase traffic to your online store. Your high-quality products and stellar customer experiences are a good start, but if you want customers to find you, you’ll need to find a way to stand out in the crowd of competing businesses vying for their attention. In this post, we’ll take you through a collection of digital marketing strategies that will help you attract and retain a customer base that’s both engaged and loyal, so you can get ahead of the competition.
Launched in 1985 for Mac and two years later for Windows, the first version of Excel was an advancement in spreadsheet technology. A great new tool to help sort, manipulate and present data; one that supported the automation of repetitive tasks.
Thirty years is a long time in technology. Using spreadsheets to manage inventory, financials and business reporting is costing your company time and money. Here’s five reasons why:
Most business owners face a constant struggle to get everything done in the course of their working week, while looking for ways to keep costs low and sales high. Optimising your supply chain is a must for achieving this goal, and it requires careful management of your suppliers or manufacturers. But that’s no easy task when they’re also busy and can’t always respond to your requests as quickly as you’d like.
In honour of International Women’s Day, we’re pleased to support Rails Girls Wellington – a free two-day workshop offering a friendly and supportive environment for women of all ages to learn the popular web application framework Ruby on Rails.
Just-In-Time (JIT) inventory is a strategy used to increase efficiency and minimize waste in the manufacturing process. The overarching concept of JIT is relatively simple, with a JIT approach, when an inventory item is in demand, it is delivered and as a result this system does not have high inventory levels. By receiving goods only as they are needed in the production process, it minimizes inventory costs. There are many factors that must work in harmony for such a system to be successful. Below are some of the key highlights of a JIT inventory system.
While most of us have alarm bells ringing when we receive phone calls from people claiming to be from Microsoft, there are also scammers who target businesses.
There are thousands of people sitting at the other end of a computer screen, actively trying to trick the unwary into sharing their bank account details or send sums of money offshore.
Don’t get stuck in your own Groundhog Day: 4 easy changes to re-energise your business
It’s often how you say something that determines whether you get the result you want. This applies in financial services, marketing and even tax collecting.
In one experiment by the Nudge Unit they improved the payment of vehicle taxes by using simple plain language, “pay your tax or lose your car”. In fact HM Revenue & Customs attributes the recovery of an extra £210 million a year from taxpayers by using behavioural insights in its letters i.e. changing the words to influence behaviour.
Grow your business through marketing and advertising!
Whether you’re a personal trainer or a large computer repair shop, if you want to grow and build your business, you’ll need to attract new customers and keep them coming back for more.
Effectively marketing your business is one way to grow your brand and your business.
Hospitality is a complex – and often fickle – business. There are so many factors that can affect the need for staff, and therefore the overall turnover of the business. There are far too many to mention, but can include: changes in weather; local events; public holidays; what your competition is doing; what deals are running; and how you’ve marketed the business.
When considering a business loan, most people will evaluate affordability based on the advertised interest rates. But the truth is that if you compare only the interest rates, you could waste money, or end up with a deal that isn’t the best fit.