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Unless you keep and use information on how you do things and what you do, you are working in the dark. Information is a business resource necessary for making decisions, and skills must be developed in sifting, summarising, interpreting and analysing large amounts of information. Some of it will be useful, but much of it will not. It is, however, important to gather information from outside your own business, and even industry, as well as from within, because much of the information contained in your own records will be of historical interest only and lacking in the fresh viewpoint that is sometimes needed.

Consider these things:

• What information do you collect on your business?
• How do you collect it?
• How do you make use of it?
• How do you review it?
• What customer feedback do you get, and how do you use it?
• Do you compare your information against competitors, and use it to improve your own planning and performance?
• Apart from your own records, sources of information include:

1. Your own research

• Talk to suppliers
• Visit or correspond with others in the industry
• Go to exhibitons, displays and trade shows
• Attend conferences
• Enrol in business or industry-related courses
• Talk to other small business owners outside your industry
• Join small business groups or associations (e.g. Chamber of Commerce etc.)
• Use your library. Much information that they may not hold can be requested on Interloan from the National Library or elsewhere. You may also be able to access a polytechnic or university library

2. Your professionals

Your accountant, bank manager, solicitor, insurance agent and sales reps can be invaluable. Consultants can also assist, but tend to be expensive!

3. Government and local body departments/agencies

• BIZinfo
• Local body enterprise centres
• Departments of statistics, labour, commerce, inland revenue and consumer affairs
• NZ Patent Office
• Telecommunications companies

4. Publications

• Trade journals and newsletters
• Newspapers
• Business magazines
• Directories (telephone book, catalogues, UBD, community diaries etc.)
• Government publications
• Websites (like www.homebizbuzz.co.nz )

Lastly, remember especially to use your information to set goals and priorities for improvement.