Why entering business awards is good for business
PRESS RELEASE
FROM: NexGen
Group
DATE: 29 May 2018
Why entering business awards is good for business
NexGen Group’s confirmation as finalists in the Newmarket Business Awards 2018 highlights one of the most powerful, yet the most underutilised business growth strategies a SME can undertake – and it isn’t just about the status that goes with being a finalist or ultimate winner.
It was announced this month that NexGen Group – accountants and business coaches – is a finalist in the ‘Best Small / Medium Business of the Year’ (non-retail), sponsored by 2degrees, and NexGen Group director and co-founder Niran Iswar was named as one of four finalists in the ‘Young Business Person of the Year’ award, sponsored by Rotary Newmarket.
Iswar says entering the awards and achieving finalist status has delivered at least five benefits to the business.
1. Built team spirit and engendered a sense of excitement and togetherness in the business
2. Prepared the firm for growth
3. Increased brand awareness and goodwill amongst clients and prospective clients
4. Improved the status of the firm as credible and expert
5. Resulted in learning new things from researching previous winners to see what they did right
Team building
“The biggest highlight for me is the buzz this has created amongst the team. Our staff are genuinely excited and taking the whole team along to the awards night not only gives us something to look forward to as a team, it helps pull us together.
“Just by entering the awards we all have a better understanding of the business and we’re united in that common purpose. It’s a way to acknowledge, and say ‘thank you’, to our staff because we wouldn’t be here if not for them,” says Iswar.
Prepped for growth
Iswar says the firm spent more than eight hours on each category, but it was also an invaluable exercise for consolidating processes, systems and policies as preparation for growth.
“We have a better understanding of what we do well, and what we don’t do so well. We know where to improve, and what strengths to build on – it’s great for companies that want to upscale and was a great exercise for reflecting on our purpose and vision.
Brand awareness and goodwill
“Just entering the business awards has made us aware that we are part of the community here in Newmarket. It has lifted our profile amongst local businesses, who are also our target market because we specialise in working with retail, trades and hospitality clients.”
Credibility
Iswar says that just by raising visibility comes credibility and relationships, and out of that business growth.
“We know that the judges will scrutinise every aspect of our business. Our clients and our target market know that too. Being named finalists sends a signal that we’re up to scratch – it’s a tick in the credibility box that says ‘yes, we practise what we preach and do what we say we will do’.”
Knowledge
Iswar says researching what previous winners – all examples of successful companies – did well added to the knowledge base of the business which will not only help NexGen Group’s progress, but also the clients that the firm advises.
“We do accounting and business coaching. Our job is to help business owners and the businesses themselves to be as good as they can be, and there is no better example to learn from than those who have already achieved success.
“Doing this exercise increased our business knowledge and understanding, and also made us reflect on why we are here – what is our endgame? What kind of legacy do we want to leave? These are important questions that entering a business awards category helped us confront.”
For more information: http://nexgen.nz/
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