Sales up by 10 to 50%

BOOST Business’s MarketBOOST™ is a no nonsense, action based, marketing system for Small and Medium New Zealand Businesses specifically designed to grow your sales by 10% to 50% without spending an extra cent on advertising…

Discover how we can implement the system and “BOOST” your sales by booking your Free Assessment today…

Contact us safely through Our Contact Page

Phone: 021 566535

Email: info@boostbusiness.co.nz

Web: www.boostbusiness.co.nz

Jeff Smith has taken up the first BOOST Master Franchise from July 2009. Jeff has been involved in coaching, mentoring and working with small businesses since 2001. Jeff formalised his own small business experience in 2003/2004 with a graduate diploma in Economic Development gained through AUT.
Jeff Resides on Wellington’s Kapiti Coast with wife, Michelle and son Ryan. “The Kapiti Coast is an excellent strategic location to run a busy BOOST master franchise” says Jeff. The Wellington region encompasses Wanganui, Manawatu, Kapiti, the Hutt Valley and Wellington city. J
Jeff says “I am really looking forward to bringing on our first BOOST coaches in the Wellington region – The systems we’ve developed over the past 7 years are extremely simple, extremely effective and designed with our small business market in mind”
In Jeff’s own words “ apart from the experience with the hundreds of small businesses that I have worked with in Wanganui & Northland and my formal qualifications the most valuable experience I can bring to our Small Business clients is the time spent owning and operating three businesses over the past two decades”. This coupled with the simple system and processes we incorporate into your business spells guaranteed success for our clients.
Jeff had no trouble aligning his values to those of BOOST business coaching. “BOOST business coaching has a vision of no small businesses failure in New Zealand.” “With my observations over the past seven years with businesses owners who are employing people, risking capital, property and reputation who have found themselves in the very unfortunate position of going under the effects are devastating.” Loved ones, families and communities are affected.” With Jeff’s recent experience as CEO of the Northland Chamber of Commerce BOOST coaching has at its fingertips a whole host of resources available to Small Businesses.
Jeff looks forward to meeting, assisting small business owners and potential BOOST franchisees as we all set ourselves up to come through the next years stronger, leaner, flexible and ready to thrive.

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Systemise your business spend more time at home doing the real business

In the last article we looked at some tips for fathers in business.

One of the tips was about systemising your business so that you as a business owner can get away and spend more time with your family without the business relying on you at all times. As a Father this is a natural desire. Systemising your business is often seen as a panacea and easy fix. Then reality is though that there are a series of stages that a small business goes through to actually reach this level.

This includes fixing and working on various parts of your business before investing in creating business systems

The problem with most small businesses is that they cannot afford to hire salaried business development experts. Small businesses realise that to get some expertise on board means that they could then grow their businesses effectively which means that they could then afford the expertise to grow their businesses… yes it’s a classic catch 22 situation.

Systemising your small business

The secret is to outsource this type of work to people who can show you the templates and then coach you through the process. Outsourcing someone to assist you implement processes and systems means that in effect you are adding three ‘departments’ onto your business.

1. Your marketing department – Making sure that every obstacle that stands in the way of getting your services / products sold are overcome

2. Your operations department – The sole purpose of this department is to investigate and implement ways of doing your work quicker, cheaper and better.

3. Keeping score department – What you cant measure you cant manage – keeping track of everything from finances, compliances, strategic planning implementation, systems implementation, staff etc etc.

On top of this you have someone holding you to account for accomplishing milestones moving your business towards one that is more profitable and less hands on for you the business owner.

Fathers, we owe it to our families and children to spend as much quality time as possible. If you are not in the luxurious position of working from 9 to 5 and then being able to walk away from work every day then you owe it to yourself and family to put in small business systems and processes so you can start doing this.

Contact BOOST today

BOOSTS Wellington Business Coaching Lite $299   – Try before you buy

It seem like only yesterday we were eagerly awaiting the results from the 2009 Electra Business Awards. And now you are being prompted to enter again!

If you put it off last year its time to re think the process because there is a really good reason to start the process right now

… Apart from being an excellent marketing tactic or a promotional exercise the biggest benefit of entering these awards by far is the discipline of standing back and objectively ‘taking stock’ of exactly where you are at….

Let me explain…

…you have probably heard dozens of time the phrase “working on your business… Instead of in your business”…and like a lot of people wondered… What exactly is that? And also like dozens of other businesses, you say to yourself… how does this apply to me as a business owner or manager? What is the point?

Well the point is this!  If you want your business to grow, you must stop being the guy that does everything… and instead learn how to direct / manage systems, processes and people to run and grow your business

The great thing about entering these awards is that you are getting a deadline, the assistance to enter and two sets of experts to provide robust feedback on your organisation. From here you can use this information and data to make other decisions about where to from here. (This is working on your business)

Two things are required now – Decide to improve your business outlook, then hop online and start the registration process. Do it now!

Jeff Smith from BOOST Business has been involved in business awards all over the North Island since 2004. Jeff is your official awards consultant. BOOST Business is available to take you though the awards process and to give you feedback and pointers on your entry before submitting to the assessors. After you have registered your interest in the awards you can contact Jeff by emailing jeff@boostbusiness.co.nz or by phoning 04-2982667 or 021 – 566535. A link to the awards website can be found by going to www.boostbusiness.co.nz/awards

Follow up, Follow up, Follow up

A lot of businesses sell services – the only problem is…. Most of the time when you are ready to sell your service to a prospect…. Your prospect is not ready to buy

So what do you do…?

Well  switched on businesses have a Marketing Process where they funnel there prospects through and keep in touch with them until they are ready to BUY….Right.. Yeah right!

95% of businesses don’t follow a process..

The reasons for this vary but you will find the following culprits

• You get busy and don’t follow up
• The newer leads are more alluring offering more instant promise
• You don’t have a system, a process or a structured approach to following up

The whole reason you have a marketing funnel, database and a process is so you can control, measure and execute FU….

And smart Businesses know that they keep following up until either the prospect is ready to buy, dies or says … go away!

If there is one place you can start improving conversions the for goodness sake start with following up.. systematically, regularly and religiously

BOOST Business in a minute are short one minute tips guaranteed to provide you with a common sense approach to BOOSTing, growing and sorting your small business.

Contact BOOST Business coaching for a straight up no nonsense common sense approach to helping you spend more time working on your small biz…not in it

Have you heard about BOOST Business Coaching Lite only $299

Register and pay for your BOOST Lite programme

Business Advice Wellington

Every day we get tons of enquiries from Wellington Business. We will attempt over time to answer some of the most frequent questions In a series of articles.

One of the more popular questions concerns debt collection and best practice around this. Most small Wellington Businesses have had issues around this at one stage or another. BOOST Business wrote an article about how to stop giving your customers permission to delay paying you which was generally well received however we thought it was time to delve into the topic in a little more detail.

Business Advice Wellington

Get paid on time every time
1.    Don’t give them a reason to delay paying you. Your invoice should be accurate, pretty well detailed but easy enough to understand. Include;
a.    Your Company’s contact info, name, address, GST no. Phone, Email, Web and name of the contact person.
b.    Invoice Date
c.    Customers Name and Address
d.    Itemised Description of Goods and Services
e.    Amount due with GST amount
f.    Invoice Terms – See Business Advice Wellington article on how to stop giving permission to your customers to delay paying you

Invoicing

2.    The longer you take to send an invoice the longer it will take for you to get paid. Send invoices promptly and religiously every week, fortnight or month. (Daily or on Job completion would be even better)

Stock Turn

3.    Think about the time it takes you to receive the cash for the goods or services you provide. If you order your raw materials in January – and you are lucky you pay for these on 20th February. Depending on your stock turn or manufacturing process the materials / stock could be in storage for 1 to 90 days. You sell the end product and say wait for 60 days. When you drill down and take the time to realise the impact could be a delay of between 60 – 150 days before you are paid. The ideal for this scenario is to be paid 0 to minus 30 days. Its possible depending on your operational processes. Call BOOST to discuss this – you could end up freeing thousands of dollars – You might even get rid of the overdraft.

Calculate this

4.    Do the following calculations

a.    Calculate your average collection period by dividing your total sales for the previous year by 365. This gives you your average daily sales volume.  (Total Sales / 365 Days = Average Daily Sales Volume)
b.    Then divide your average daily sales volume into your current accounts receivable balance to get the number of days it takes to collect a bill.  (Average Accounts Receivable Collection Period = Average Daily Sales Volume / Current Accounts Receivable Balance)

This is you average accounts receivable period. Answer the following questions

Question 1: Is your average accounts receivable collection period in line with your business terms of trade? If your terms of trade provide your customers with 30 days to pay their bills, then you should expect that your average collection period will be somewhere around 30 days – maybe a little longer. If your average collection period is 60 days then you need to examine other factors that affect billing.

Question 2: Are you billing your customers consistently? Look at your Accounts Receivable Aging Report. Are the outstanding invoices on that report related to products and services sold within the last 45 days, or are they related to products and services you provided three months ago and just got around to billing? Create a procedure to bill customers once a week or each time you have a completed sale.

Question 3: Are you following the above guidelines about invoicing your customers with enough information and on previously agreed terms? Are your customers calling you with questions about your invoice?

Question 4: Are you tracking overdue accounts and taking consistent action to collect past due accounts? Do you have an effective process in place to track when an account comes due, and knowing who has paid their bills and who has not? When a customer’s invoice goes past its due date, is there a procedure in place to follow-up with that customer? Sometimes sending customer statements and making friendly reminder calls is all it takes.

Business Advice Wellington – Summary

So our Business Advice for Wellington Business is to answer these four basic questions, implement a few basic procedures you’ll soon be running a fine-tuned collection machine. If you want help putting together an effective proven collection process contact us at BOOST.

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