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NZ businesses now at a pivotal growth point

14 March 2014

NZ businesses now at a pivotal growth point

Renewed optimism and strong economic growth factors are currently combining to present New Zealand businesses with a pivotal choice between helter skelter growth and planned, strategic growth.

Director of business consulting firm Rise Advisory and author of Business Mechanics, Jerome Jacobs, says now is the moment when leaders can make a conscious decision to learn from the past and plan for growth that is strategic and pro-active.

"So many businesses fell over during the financial recession because they were reactionary in nature. They ran just as fast as they could to cope with the workload and put strategic planning on the backburner.

"Economies will rise and fall, but businesses that grow with vision will continue to grow come what may," he said.

Mr Jacobs made his comments on the back of predictions that the New Zealand economy will grow 3.6 per cent (Infometrics) in 2014 and business confidence is at a 20-year-high (NZIER).

"Find the time or make the time to map out your business vision because it's very easy to procrastinate when times are good – remember that the world is very different post the recession and smart businesses will put as much effort into identifying the opportunities as they will coping with demand."

Mr Jacobs said that four factors are critical to strategic business growth:
• Winning strategy's through a future vision
• Set and track strategic objectives
• Hold people accountable to get the right things done
• Increase team engagement
• Turn your vision into growth

"In our experience as business advisors, one of the problems may be a poor understanding of what constitutes business strategy. It is simple to say that business strategy is what drives the business owner and his or her people in their action and results, but much harder to actually address.

"Other factors that are easy to mention, but difficult to understand and implement, include how to create and engage a team with unique abilities, how to set clear and measureable KPIs and understanding exactly how much cash you are going to need to fuel business growth," he said.

A good example of this philosophy in action is finding from the Deloitte Fast 50 companies in 2009, which were growing through the recession because they made sure that they had the fundamental elements of their business right.

"The key elements are retaining a great team, nailing a product or service niche, having a thorough understanding of their markets and being active with their customers. Great performers in a recessionary environment are doing all the same things that great performers do in economically rosy times," Deloitte said at the time.

Events aim to help business owners get to grips with strategic planning

As a result the firm is offering free events to SME owners in an attempt to help them navigate business growth from a strategic planning perspective.

Business Riser North Shore
BNZ North Shore
Constellation Dr
North Shore
Tuesday, 18 March 2014 from 11:30 AM to 1:30 PM

Business Riser Newmarket
BNZ Newmarket
330 Broadway
Newmarket
Tuesday, 25 March 2014 from 9:30 AM to 11:30 AM

Business Riser Newmarket
BNZ Highbrook
86 Highbrook Drive
Tuesday, 25 March 2014 from 1:00 PM to 3:00 PM

Business Riser Henderson
BNZ Partners Building
373 Great North Road
Henderson
Wednesday, 26 March 2014 from 11:00 AM to 1:00 PM

About
Rise Advisory is a leading provider of business development services for privately-owned companies in the SME market which works to transform companies from good to great, and is passionate about helping New Zealand businesses grow and succeed.

Over the last ten years as a professional advisor/business coach Jerome Jacobs has been involved in trades, manufacturing, professional service and broker businesses with a strong understanding of pricing strategies to grow profits strongly in all sectors.

Not only has Jerome invested in building businesses himself, he is experienced in training others in systems, team engagement, recruitment, sales, marketing and operations with a clear focus on profits.

By using the principal starting with the end in mind, Jerome's focus with all clients is having a business that is saleable or maintaining profits for other investments.

www.riseadvisory.co.nz

ENDS

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