When Company Directors go to Jail

Do you understand your responsibilities and liabilities as a company director?  Are you aware of the potential jail time if found guilty of (seriously) breaching those duties? There are some 600,000 limited companies in New Zealand, all of which have at least one director ultimately responsible for the conduct of the company. Not many I…

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How many hours do you waste per week?

I was interested to read the recent BRANZ report on small construction firms in NZ. A lot of interesting stuff in there.  One statistic I found particularly interesting was a possible source of easy additional profit for construction company owners.  That statistic is the number of hours that owners and employees waste each week.  Just looking…

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Ready for New Consumer Protection Law?

By late this year the new consumer protection measures that have been drafted as part of the Building Amendment Act 2013 come into force. Are you ready for this from a practical point of view? Do you have the disclosure documents, checklists and processes established in your business to both comply with the law and…

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Simple Mantra to Keep a Safety Mindset

There are two distinct sides to the health & safety issue in a construction business: ticking the “We have a H&S system” box, and actually making it an active part of daily operations. Paying for an off-the-shelf system and putting a sign up is a good start, but it will do little to prevent accidents…

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Clients as as Perishable as Strawberries

Anyone who saw Fair Go on the 21st of May would have seen the segment on the Certified builder from Smith & Sons and the unhappy client.  The client was complaining about a bad outcome on a building project and also unhappy that Certified Builders was backing the builder and not brokering (read, paying for)…

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Get The Right People on Your Bus

What makes a company great? Jim Collins, author of the book “Good to Great“, sums it up by saying that great companies “first get the right people on the bus, the wrong people off the bus, and the right people in the right seats. People are not your most important asset. The right people are.”…

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Are You a Fox or a Hedgehog?

I started this blog with the intention of focusing on ways in which a business can improve its competitive advantage. To keep on this track this post is about one of the fundamental strategies that provides the cornerstone of developing a sustainable competitive advantage over your competitors. That strategy is, FOCUS. Jim Collins in his…

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Building Companies Busy, but Still Going Bust

The Christchurch Press reported yesterday that despite construction being very busy, small to mid sized businesses in the industry are still going bust. See the article here: http://tinyurl.com/my2y4oc Should you be worried?  Probably. If not worried, you should at least be aware that things are not all glittering out there and you should look at…

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What Is Working Capital and How Much Do I Need?

The working capital in your business is the net amount of liquid assets you have in the business, ie. those that can be converted into cash soon; certainly within the next quarter or so.  To calculate your working capital, find your most recent balance sheet showing your assets, liabilities and net worth. Next, subtract your…

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Do Sweat the Small Stuff!

Details matter. Maybe they don’t matter to you, but chances are they matter to your clients, or your prospective clients. And frankly, that’s more important than what your opinion is. Will they notice that typo on page 3 of your proposal? Will they notice you turn up 10 minutes late for the appointment without calling…

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