Boost Business Coaching

10 Things you should consider before starting a business in New Zealand

You can just do it in NZ
1. Do what you like or love to do
2. Is the family on board?
3. Like a bad marriage its not so easy to walk away
4. Working to exhaustion everyday is not good
Its Game OVER – If you run out of cash - SO don’t
1. Be MISERLY on expenses in the very early days
2. Sort finances first – cashflow forecast at a minimum
3. Aim to pay Bills and Tax on time
Nice people everywhere – want you to succeed
1. SO don’t go there alone
2. If you don’t have a track record – its 99% certain that no-one will give you any money
3. Chamber / Biz Office – Brochures, Tax, Business Planning templates
Plan of attack – Fail to Plan - plan to fail
1. Be clear about your own limitations
2. Childcare – Work Space
3. Don’t give up your day job if possible
4. Don’t wait till its perfect – start
Market Research, Market Research, Market Research
1. Can you get some commitment from potential customers
2. Who are your potential customers
3. Network, be nice, alliances, planned word of mouth, co-operate,
Have the end in Mind at all times
1. Ask yourself- What is my ‘Exit Plan’
2. Become intimate with measuring money – Equity, Income, Profit, Cashflow
3. When established talk to a Business Growth expert about using leverage to grow ‘rapidly’
Have a ‘hit by the bus” plan
1. Protect personal assets
2. Risk management
3. Insurances – Property, Life, You
Your new bestest buddies
1. Don’t skimp on experts -accountants, lawyers
2. Mentors, Coaches
3. The Bank
Be a marketing smarty pants
1. Be different from your competitors
2. Look like a pro – fake it till you make it
3. Definition of marketing – removing all obstacles that stand in the way of you and your customers
4. Can you bootstrap it?
Remember this quote – “Don’t be too meek, modest or half hearted about your aspirations – Life is not a dress rehearsal”