Boost Business Coaching » Starting a Business http://boostbusiness.co.nz/art BOOST business coaching makes your business better, bigger, faster and more profitable. Fri, 30 Sep 2011 08:00:06 +0000 http://wordpress.org/?v=2.8.5 en hourly 1 10 Things you should consider before starting a business in New Zealand http://boostbusiness.co.nz/art/2009/12/02/10-things-you-should-consider-before-starting-a-business-in-new-zealand/ http://boostbusiness.co.nz/art/2009/12/02/10-things-you-should-consider-before-starting-a-business-in-new-zealand/#comments Wed, 02 Dec 2009 08:42:38 +0000 Jeff http://boostbusiness.co.nz/art/?p=287
  • 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”

    • Resources

    www.boostbusiness.co.nz

    www.business.govt.nz

    www.ird.govt.nz

    www.poriruachamber.co.nz

    www.wellingtonbusinesscoaching.info

    www.bni.co.nz

    Business Ideas

    www.springwise.com – Business Trends

    http://www.entrepreneur.com/businessideas/index.html – 100s of Business Ideas


    Three tips for fathers running businesses in New Zealand

    Try BOOST Business Coaching Lite – $299 (Is business coaching for me?)

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