stressed business owner

How to Handle a Recession

Financial Management, Owner

Recent world events surrounding the Covid-19 pandemic has meant that economically we are quite likely to be heading into a recession. Technically that is when 2 consecutive quarters show negative growth. We are not there yet, but the economic effects of the Covid-19 pandemic mean that significant parts of our economy will be in free-fall over the next few months, particularly the service sector. No one knows how long it will last. We can only hope we manage to beat the pandemic within a relatively short space of time, like China has, and we can all get back to business as usual.

In the meantime it is prudent to plan for a period of lower business activity….

Sustainability From a Profit Standpoint

Financial Management

To quote Kermit the Frog, “It’s Not Easy Being Green” That may be so, and it made for a cute song, but it’s much tougher when you are red. By that I mean in the financial red. 

With sustainability being a bit of a buzz word at the moment, I thought I would talk about another type of sustainability you should be interested in. That is your FINANCIAL sustainability. You owe it to your customers, staff and family to be around in the long term. Consistent profitability is vital to help you achieve long term survival.

Startup Success Tips

Uncategorized

New into business ownership or thinking or starting out on your own?  Congratulations!  The world needs more entrepreneurs like you; that’s what drives innovation and growth.  But just deciding on starting your own business is not a guarantee of success.  Far from it.  Most new businesses do not survive the first few years of life…

Future-proof Your Business

Owner

The Ministry of Business, Innovation & Employment has just released it’s 3rd Construction Pipeline report for the next five years in New Zealand.  Have you read it and considered what it means for your company? There is no doubt that the value of construction is set to stay at high levels over the next few…

Serve Your Clients, Don’t Sell Them

Uncategorized

In your salesperson role, your objective is to serve, not to sell. Whenever you go in to see a client or prospective client, and especially when you meet someone for the very first time, you have to go in wearing your problem-solving hat. Your objective is to help your prospective client find solutions to their…

Measure Labour Productivity

Uncategorized

This week I am borrowing a blog post from Grocorp.co in the US who produce an app to measure labour productivity on a construction project.  Whether you use technology like this or pencil and paper, the principles are the same.  What you can measure you can manage.  What you can manage you can change (for the…

Longer Hours = Less Productivity

Owner

Research out of Stamford University earlier this year showed that productivity declines quickly after working for more than 50 hours per week and declines even faster after the 55 hour mark. I suspect that they just tested office workers in big companies, rather than owners of small businesses.  Long hours seem to come with the…

A Problem Shared

Owner

This month I started another semi-group “coaching” program for 2015, called the Construction Business MasterClass, at my office in Albany. Participants are into the first “Your Foundations” diagnostic phase and already seeing the benefits of coming on-board. I knew from my experience that participants would receive tremendous value in the 3-way analysis that is conducted on…