Welcome to this month’s broadcast
YAY! The kids are back at school!!! Although our homes will be quieter and mothers and fathers saner, the roads are going to be busier with the school traffic once again dominating the mornings and afternoons.
Aside from that fabulous piece of news, there's actually a lot happening in August if you are a business owner in the north.
The home show is on this weekend, starting August the 12th at 10am. Check out the official website for more information. http://www.northlandhomeshow.co.nz/
August the 19th is the final day for entries for the Westpac Northland Business Excellence Awards. So if you are thinking about it, now is the time to call us for more information (09) 4343180 or visit the official awards website here http://www.northlandbusinessawards.co.nz
If you have any questions about the awards, whatever stage you are at, you are welcome to call Business Coaching New Zealand on (09) 4343180 or email Terry directly on terry@bcnz.net.nz . As sponsors of the awards for the 5th year running, we have the experience to answer your questions with confidence.
On the 26th of August at the Thirty3 Events Centre in Whangarei is the All About Business Trade Show running from 10am until 4pm. This trade show is all about local business supporting local business. You can't afford to not be there! Read more on the official website http://www.allaboutbusiness.co.nz
But wait! There's more. Don't tell him I told you, but Terry Sage, Director of Business Coaching New Zealand is having a mile stone birthday in August! He told the kids he is turning 21...ahem...ok Terry.
Whangarei Kart Club
As sponsors of the Whangarei GoKart Club http://www.whangareikartclub.com/, Business Coaching New Zealand does it's bit to get involved with the local community. Sunday the 7th of August was the latest race day which saw kart enthusiasts from all walks of life racing in rain and shine.
If you have kids or are a kid at heart, head down for the next meet which is on September the 4th. It's good (FREE!) fun and can add yet another element of networking to your business world (as if you needed another!!)
The atmosphere is one of charged energy, both male and female, noise and the smell of oil and petrol. So babys put your headphones on and get on down there!
If you have something interesting that you would like to see in our newsletter, please email us on info@bcnz.net.nz and we can talk!
Questions & Answers
In every Business Broadcast we give you the opportunity to email 'Betty' on dearbetty@bcnz.net.nz with your questions about your business.
Q: I am finding it really hard to get ahead financially. All I seem to be doing is staying afloat. What's the quickest and easiest way to save some cash!?
A: Cutting costs is your fastest way to get where you want to go.
It's not always about bringing more money through the front door. It's about knowing how to slow down the money going out the back door. By making an extra dollar the surplus you have is down to your business margins which in some cases could be as low as 7 to 10 cents in your dollar. But every time you save a dollar in your expenses you have that whole dollar towards your profit.
The easiest way to monitor this is to put a budget and cashflow into place which Business Coaching New Zealand can help you do in a day! Call us for more information on (09) 4343180 or email info@bcnz.net.nz
DOES YOUR BANK BALANCE LOOK LIKE THIS?
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The topic of conversation when we talk to our clients and other business associates regarding business finance is mostly centred on their current cash flow issue. The general feeling is that the economic climate is improving and they see increases in income happening on a monthly basis.
But the question we hear is, “I am still finding it hard to pay the bills, where is all the cash going?”
You need good reporting in place to understand the answers to this question. With your monthly profit and loss statements, your budget and cashflows and creditor and debtor lists.
If you are making money but there is none in your bank account then turn to your debtors report and see if it is all sitting in there.
Throughout the last couple of years a 30 day invoice is being paid in 60 days, sometimes even in 90 days and unfortunately in some cases, not at all.
It is a common occurrence that business owners are just not chasing money that is owed to them.
The best tip we can give you here is if you are not comfortable phoning to ask for YOUR money, outsource it. The cost of this could well be cheaper than the interest you are paying on your overdraft
And now for something completely different...
A rubbish collector in Auckland, is driving along a street picking up the wheelie bins and emptying them into his compactor.
He goes to one house where the bin hasn't been left out, and in the spirit of kindness, and after having a quick look about for the bin, he gets out of his truck goes to the front door and knocks.. There's no answer.
Being a kindly and conscientious bloke, he knocks again - a bit harder and then harder still . ...
Eventually a Chinese man comes to the door..
"Harro!" says the Chinese man.
"Gidday, mate! Where's ya bin?" asks the collector.
"I bin on toiret," explains the Chinese bloke, a bit perplexed.
Realising the fellow had misunderstood him, the bin man smiles and tries again.
"No! No! Mate, Where's your dust bin?"
"I dust been to toiret, I toll you!'' says the Chinese man, still perplexed.
"Listen," says the collector. "You're misunderstanding me. Where's your 'wheelie' bin?'"
"OK, OK.." replies the Chinese man with a sheepish grin and whispers in the collector's ear.
"I wheelie bin having bang bang wiffa wife's sista
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