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11 tips for reducing costs in small business

NZ Entrepreneur

According to the latest MYOB SME Snapshot, a survey of over 500 local SME operators around New Zealand, most believe the economy will decline in the next year, putting further pressure on cashflow and margins. Make sure you go back and look over your budgets and forecasts and see how you’re tracking. 2) UNCOVER HIDDEN COSTS.

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Innovation: The Key To Entrepreneurial Success

YoungUpstarts

With Asia’s share of global research and development forecast to grow to 40% this year, the quest to drive innovation is at the forefront of conversation among business leaders and entrepreneurs in the region. Be agile and adapt to changing market needs – your customer’s needs are not static and they will continue to evolve.

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Are You In Control Of Your Business?

YoungUpstarts

Does your spreadsheet allow you to see trends and forecast at a glance? I know you’re probably thinking that a customized database or inventory management system is out of your budget. All customer data in a centralised system – review purchasing and billing history at a glance. Up with the trends. The No-Spreadsheet Solution.

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How AI is literally helping Kiwi businesses grow

NZ Entrepreneur

Myles Matheson, a Data & AI specialist at Microsoft New Zealand, says the first step in talking to customers about AI is to understand what it means to them. One of the things we are working on with a lot of customers is moving away from a ‘product-centric’ view to focus more on being ‘customer-centric’.

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Better business forecasting – Part One

NZ Entrepreneur

You might see forecasting as a waste of time, or something you do when you have absolutely nothing else on your plate (which is, um, never). Or you may have been diligently forecasting each month in the past, and stopped once you found that reality turned out quite differently to your best laid plans. And who can blame you?

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Is my business idea feasible? Key questions to ask before you start.

NZ Entrepreneur

Check your business name doesn’t conflict with that of another business, by looking up the free online registers provided by the Intellectual Property Office of New Zealand and the NZ Companies Register. Who is your ideal customer? Is your potential pool of customers limited by geography, or other factors like a high cost?

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Have you done your annual entrepreneurial health check?

NZ Entrepreneur

The current New Zealand economic climate is buoyant and businesses are well positioned for growth. Additional funding requests – requesting funding over and above those forecast by the company can be a tell tale sign that all is not well. Staff/Management. The post Have you done your annual entrepreneurial health check?