When things go bad

Running your own business is a great way to be the master of your own destiny. This week's guaranteed-under-two-minute read has some tips and tools to help you stay in control, even when things aren't all going your way.

(Newsletter)

puddle after rain
Heather Douglas

Here are some useful suggestions for Wellington businesses currently facing a clean-up - but they would apply to most small businesses in many circumstances where a business experiences unexpected damage.

(Blog entry)

Calculating income and expenses
When you find yourself with more bills than cash to pay them with, Michael Smyth identifies some useful options you can use to throw your business a lifeline and ease the cashflow.

(Article)

Image on Bizbuzz
What would you do if one of your debtors went into liquidation? In this article, Jo-Ella Sarich explains your options and the steps you can take to protect your business.

(Article)

Being a business owner can be a solitary job. You’re the one who has to make the decisions and who is accountable for the effect of those decisions. At the end of the day, the buck stops with you. This kind of responsibility can leave you feeling lonely, tired and harrassed - and often scared and confused as well.

(Article)

This week's guaranteed-under-two-minute read has some tips and information to help you bring money into your business when you need it.

(Newsletter)

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There are many ways for a business to raise money, and not all are equal. Stuart Wills covers some of what you need to know before you go knocking on the bank manager's door.

(Article)

Resiliency is critical for any business as there will almost certainly be ups and downs along the way. Eileen McDargh reckons that in the current economy just bouncing back is not enough.

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If you are a director or thinking of becoming a director of a company then you must ensure you are fully aware of your duties and your potential liabilities. As seen in some recent cases involving failed finance companies, directors might even face fines or jail terms for their actions.

(Article)

There's more to running your own business than just doing a good day's work. Self-employment does not actually suit everyone, though for others it offers a great deal more than working for someone else. Even if you've got what it takes, there are times you might get bogged down and feel like you're not going anywhere fast. This week's guaranteed-under-two-minute read helps you work out if running your own business is right for you, find direction and build a business around your vision.

(Newsletter)

For most people this is not the first step in their business. But if you recognise that you're business is not really going anywhere, this should be the first step to getting it sorted. Best of all, it's relatively quick and painless - although it might hurt your brain trying to summarise what your business is really about.

(Article)

Necktie
You finally made the gutsy move to run your own business. You are the boss, you make the decisions, right? Not necessarily, there is always some bully who will try and throw you off your throne. Here is how to deal with them.

(Article)

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Do you want to make more money in your business right now? Do you want more time to spend with your family? Do you want to take more overseas trips or have 3 months off work? Do you want to follow your passion but don’t know how? Kim Baird shares her strategy for success.

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Hand holding coins
Sometimes you really, really need an overdue account to be paid, but are afraid putting pressure on the debtor could sour the relationship. Michael Todd suggests there is another option.

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Debtor days
Debt collection can be tricky. You want the money you are owed, but you don't want to alienate a client. Michael Todd says the trick is to start softly and toughen up later in the process. He shows you exactly how to go about your first reminder.

(Article)

Pinocchio
If you've got a debtor who just doesn't seem to get around to paying that outstanding account, Michael Todd has some advice for you.

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cash
Sweat breaks out on your forehead. You know that insurance people are trained to sniff better than bloodhounds. “Oh, I’m sorry, I really can’t remember, I’ll have to get back to you” you whine quietly.

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closed sign on door
The Christchurch Earthquake has had a devastating effect on the citizens of Christchurch. One area where the law might help is the ‘unforeseen hardship” provisions that may apply to provide some relief under loan agreements and other credit contracts states Allister Doo.

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House for sale
When a business is headed for trouble, often the owner knows deep down - but as Sue Hirst's tale of woe shows, it's important to listen to that nagging doubt and seek help early. She draws some lessons from one owner's sad experience.

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Businessman on phone
Your phone is not ringing as much as before, companies are taking longer to reach a buying decision and referrals are slowing. Combine this with poor time management and what do you have? Disaster.

(Article)

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