Indholdsfortegnelse for October 2017 i NZBusiness+Management

I have just over four weeks to turn around each issue of this magazine. During those four weeks of researching and writing I learn a great deal. Some knowledge I retain, other knowledge I quickly forget (more it seems as one gets older!) So what did I learn during the past four weeks preparing this issue? In regard to our cover story, I was reminded of just how tough the television business can be. I say ‘reminded’ because once, in a former life, I worked in that industry, where I discovered how audience ratings (or lack thereof) directly impact on one’s ability to pay the bills and put food on the table. Shows were axed overnight on mediocre ratings, and no doubt they still are. Dame Julie Christie not only…

Sometimes when thinking about starting a business, the timing never seems to be quite right. This was the case for Rebecca Jones, who launched Village Kitchen in 2015 when her children were just two, five and six. She’d had the seed of the idea for a couple of years but the impetus to start her business came from a book by Australian entrepreneur Lisa Messenger, Daring and Disruptive, which urged its readers to go out and do it. “It asked what you were waiting for,” and that resonated with Rebecca. It’s a lesson she’s taken to heart. “Just start, you don’t have to shout from the rooftops… just quietly get on with it.” The business delivers fresh, ready-made healthy dinners to its customers’ doors each day. The meals are made…

Headlines of identity theft, email scams, and phishing attacks are everywhere. Cyber security should be high on the priority list for businesses. While the hackers are getting smarter, we too are more aware of what to look out for. Here are four easy tips to safeguard you and your business. 1. PROTECT YOUR PASSWORDS This will seem like common sense for most, but it’s good to be reminded of what good password hygiene looks like. Never share your passwords with others, or use the same password for different services. For the really confidential information you need to protect, use a stand-alone password. At Xero, we urge our customers to use a password that is only ever used for their Xero login. 2. UPDATE ANTI-MALWARE SOFTWARE Updating anti-malware software is another…

NZB: Briefly describe the history of Snowball Effect, and what it does. In what way are you unique in the local capital raising market? SIMEON: Snowball Effect is an online private equity marketplace offering companies a variety of quick and efficient ways to raise capital, and investors a simple process for discovering and investing in growth companies. We launched in August 2014, and have since raised $30 million for 33 companies, and amassed an investor audience of more than 15,000. We give companies the option of raising capital from the general public or from private investors. We’re currently building a directory of potential directors for companies who are wanting new board members, or who wish to develop an advisory group. Raising capital through a platform provides investors with a simple,…

AT THE RECENT National Franchise Conference, a colleague was reading the booklet of franchising facts we produced to present the latest New Zealand Survey of Franchising in a condensed form. “Look at this,” he said. “Franchising employs 124,200 people. There are about 4.6 million people in the country… That means one in every 37 New Zealanders works in a franchise!” I thought about this for a moment. I thought ‘Hold on, the total population includes children and retired people. I wonder what the proportion of workforce is?’ We didn’t take it any further as the bar was open (networking is an important part of franchising, after all) but, after the conference, I went into it with the help of one of the survey’s authors, Professor Lorelle Frazer of Griffith University.…

TO PUT THE above comment into context, I am fully aware that money isn’t free but borrowing at a percent or two over the prevailing CPI/inflation rate has been with us for the best part of a decade1 . Historically standard interest rates on business loans were around five to seven percent higher than the prevailing inflation rate and that deterred many from investing in that extra machine, that computer upgrade and all those other devices that encouraged business growth and improved productivity2 . If you held major deposits, like a law firm, you got a much better deal but overall the picture was grim and the price of money high. It was different for property, where mortgage rates have been one to three percent above inflation for eight years.…

NEW ZEALAND’S GAME developers earned $99.87 million in the financial year ending March 31, 2017, according to an independent survey of New Zealand Game Developers Association studios, up 12 percent from the 2016 year. “$100m is a great milestone to hit but our real goal is to grow a billion-dollar industry in New Zealand within 10 years,” says New Zealand Game Developers Association chair James Everett in a statement. “With some coordinated support to maximise our export potential, that’s achievable. Finland’s game industry earned over $4 billion last year, for example.” The industry’s export intensity increased further this year with 97 percent of revenue now coming from offshore, up from 93 percent last year. Hit New Zealand-made game Path of Exile was recently launched in China by Tencent, the world’s…

“First up, audit your pay practices and report on it to the board, even if they don't ask for it. The numbers don’t lie.” As New Zealanders, we often pride ourselves on our egalitarian and classless society. And rightly so. We like to treat people fairly, we respect our bi-cultural roots, and are proud to have been the first country in the world to give women the vote. That is why it is so confounding that more than 120 years later, and almost 50 years since the Equal in New Zealand pay legislation was enacted, women in New Zealand still earn 12 percent less than men. The Motu Economic Report suggests that sexism is likely to be the major driver behind the gap. Frankly, it doesn’t really matter what the…

IT’S HARD TO believe that the term ‘fake news’ was not really something you ever heard prior to 2016. Donald Trump’s presidential campaign, as well as his time spent in office, have made this term a mainstay in our language. Now it seems that you cannot go a single day without hearing some sort of discussion regarding fake news. And while the use of the words fake news can be suspect at times, there are very legitimate and real concerns about the rise of actual fake news. While the infiltration of fake news into social media has been widely discussed since last year, it is about to get even more pervasive and likely, more convincing. Last month, researchers at the University of Washington released a video in which they manipulated…

I COMPLETED WHAT I call the Saturday morning PhD. Working full-time teaching and researching, with only a few months off when each of our two daughters were born, Saturday was my time to really concentrate and power through. Weekdays in the office were condensed to reduce the time the girls spent in childcare. The working week in the office was prioritised to doing a good job of my teaching, then dipping into my research when time allowed. Come the weekend, my partner – and I am lucky I had that support – took the girls to the supermarket. He shopped while they were strapped in the shopping trolley, happily gnawing on free bread buns that were available back then. Flexible working allowed me to progress my career as the children…

"My CV has been called too boastful, my demeanour is apparently limited to a so-called Tall Poppy and my work experience rather unimportant without Kiwi know-how and insight. To add fuel to the fire of frustration – doing online job applications meant ticking the work visa box which is, I have since found out, the very first criteria to buffer and stop the application process." Age has always been just a number. An historic time-line of a life lived. It does not indicate the level of living or the extent of the successes or failures in that life. It’s merely a measuring tool for human stories that unfold across years, months, minutes and sometimes seconds. When you change lanes or shift gears for a complete life and career restart at…

The winner of the Business Excellence Award at the 2017 Central Otago Awards, announced in early September, has been described as a business created from nothing. Of course, that’s not strictly true – it was, in fact, founded on 100 percent pure passion! The owners of the Real Dog Company, Nigel and Rose Voice, chose Ranfurly to set up their business of two parts: one part premium dog equipment manufacturer (The Real Dog Equipment Company); one part Real Dog Adventures – which provides the somewhat unique sport of dog sledding as a memorable, hands-on tourism experience. Nigel and Rose’s combined passion centres on a love for working dogs. They chose to set up their family in Ranfurly because it’s quintessentially New Zealand and “dog sledding heaven”. Alaskan Malamutes have been…

Ask any business owner what is the single most important tool for successfully running their business and the answer will inevitably be accounting software. Therefore it’s vitally important that plenty of research should go into choosing the right option for your business. Business owners are united in their concerns and considerations around selecting and optimising accounting software – and providers are generally in agreement over how to satisfy them, and on the issues business users currently face. Reckon New Zealand GM Catie Cotcher reports forecasting, cashflow and compliance continue to be top-of-mind for businesses, and benchmarking is always a hot topic too. However, what’s becoming increasingly key for business owners is getting up-to-date and accurate information about their business as soon as possible. “By having the right accounting software in…

CHOOSING A BUSINESS SYSTEM that grows with your organisation is one sure-fire way to minimise business disruption – as is opting for an integrated system which not only delivers core system functionality, such as financial software, but also the ability to tap into appropriate enhanced functionality modules, to meet the needs of any industrial segments. Then SAP Business One ticks all those boxes. “This enables us to provide solutions for small organisations to run off a phone app or for companies with more complex requirements, implement a more traditional approach,” explains Erwan Philippe, Head of SAP Business One, APJ and Greater China. “The other key aspect of SAP Business One is that we provide customers with options for licensing,” adds Philippe. “We offer the solution as an on-premise perpetual license…

According to the MYOB Business Monitor almost half of New Zealand small and medium businesses are online. In December 2016 MYOB reported that 46 percent had either a company website or a social media presence. What steps can you take to join them? If you’ve already dipped your toes in the water, how can you do better? MYOB found most business owners who had gone online think it was worth the effort. More than half of those with an online presence said having a website generated more customer enquiries. A similar number also said it gave their business a more professional image. Getting started with a web presence can be daunting. It is so daunting that many business owners take short cuts or find someone else to do the work…

IF YOU’RE A CEO or a business owner, you need to ultimately own the customer experience. Yes, common knowledge is that “everyone owns the customer experience.” Yes, you’re busy and have financials to worry about. But no, ultimately nothing is more important for the success of your business than customer experience. Here’s why: Businesses exist for one reason and for one reason only; for their customers. If your customers aren’t happy, they leave, and your organisation ceases to exist. In the past the customer experience was arguably less important to the growth of your business. If you had the right product at the right price at the right time you were likely to be winning. A poor customer experience meant your reputation would be damaged and you would most likely…

IN THE LEAD up to the general election, Simpson Grierson released a report that looks at the most significant issues facing its employer clients which found that 88 percent of respondents called for the Government to change and simplify the Holidays Act 2003. Partner Phillipa Muir says in a media release that the survey supports Simpson Grierson's view that the Holidays Act needs urgent review. "It is anachronistic, overly complex and extremely difficult to apply. The overwhelming majority of our employer clients continue to rate this as their number one workplace issue for reform.”…

US PRESIDENT AND INVENTOR BENJAMIN FRANKLIN reportedly began each day by asking himself, “What good shall I do today?” Each night he finished with “What good have I done today?” He recorded his thoughts in a diary to carry over into the next day, creating a roadmap to follow to stay productive. And that strength of focus it seems is shared by many global and local leaders. As Professor Ted Zorn, Pro Vice-Chancellor and Dean at Massey Business School and Deputy Vice-Chancellor, Massey University puts it, productivity starts with knowing what you want to achieve and keeping what is most important at front and centre. His thinking is backed up by Angela Vale, chief growth office at Perpetual Guardian, whose productivity tips begin with staying focused on her purpose, what…

RICHARD BRANSON STATES that communication is the most important skill any leader can possess. That’s a big statement – it is not strategy, not IQ, not negotiation but communication. If we unpack that, communication is not just one skill, it is about having a range of communication skills for the range of different situations you encounter as a leader. Being a leader, you face daily challenges – team dynamics, power struggles, managing change and many more. All of these challenges have the potential to be improved with effective communication. Yet, communication is often something we take for granted. We are all speaking the same language so it should be easy, right? Yet how often have you found yourself in a discussion/meeting/negotiation feeling frustrated, confused or just plain angry? In meetings,…

EVERYONE IS A salesperson. Regardless if you are self-employed or working for a large corporate, people at all organisational levels are pitching for something. The objectives of these pitches vary dramatically – raising capital for a new venture, rallying troops to implement a new strategy, proposing a new development project, asking clients to try out a new product – but in essence, they are all the same. You are asking someone to commit resources (money, time, emotional energy, people) to an uncertain future. So, what should you keep in mind when you next pitch your version of the future? The problem with the future is that there just are no facts about it. We can make predictions about the future based on trends, but cold hard empirical facts are always…

The gender pay gap continues to make headlines and in 2017 it seems almost counterintuitive that it is still a topic we are discussing. Still. Which was why I was pleased to see the residential care workers win their case earlier this year and have their pay increases enshrined in legislation. The job these (mainly) women do is not for the faint-hearted and I think a job many of us would baulk at taking on for the sheer, hard physicality of it. But as John McGill points out in a thoughtful piece on page 12, this settlement will have ramifications across the employment market and I am guessing it will be something that many leaders will need to address as we head into 2018. We’ve also got an interesting piece…

They breed ‘em tough on the West Coast. It’s where survival requires resilience and determination. The Coast is a demanding, yet spectacular environment – squeezed between the tempestuous Tasman Sea and soaring Southern Alps – where longstanding industries such as gold and coal, dairy and tourism, have been battered not just by global economic vagaries, but by the challenging climate. Dame Julie Christie’s roots are deeply embedded here. Growing up in Greymouth, with six siblings, life was pretty full-on. She was just five and all seven children under 12 when her father passed away. Today, with a holiday home at beautiful Lake Kaniere, the 56-year-old mother of two is still a local ratepayer. She remains connected to family on the Coast and cares deeply about the region’s prosperity. One can…

Number of customers: We have worked and trained with over 3000 contractors, business owners, employees and budding bookkeepers in New Zealand. Strengths for small business: GoFi8ure is a specialist bookkeeping, accounting and training practice who provides SME businesses with accounting and tax services; along with customised Xero, bookkeeping and tax training. Entry level product: Bookkeeping, Accounting and Tax services, Customised Xero Software Training. Entry level cost: Hourly rate starts from $100+GST. Contact us to obtain a quote for services required. Monthly subscription: Bookkeeping and tax packages start from $160+GST per month. Training prices start from $250+GST per person. Installed or online: Cloud Operating platforms supported: Xero, MYOB Other products integrated with: Receipt Bank, Spotlight Reporting, WorkflowMax, Vend, Shopify, Unleashed, Quotient, SimPro. Level of Support: Bookkeeping, Accounting, Supervision, One-on-One or One-to-Many…

CLOUDZONE ONE Number of users: 30,000-plus worldwide Strengths for small business: NetSuite is the leading Cloud Business Application offering ERP/ CRM and eCommerce for SMEs. JCurve ERP is exclusively designed for smaller companies in Australia and New Zealand wanting a software package that grows with them. Entry level product: JCurve ERP or NetSuite Limited Edition Entry level licence cost: $2000 Installation fee: Varies according to customer. Monthly subscription: Annual subscription Installed or online: Online (Cloud) Operating platforms supported: NetSuite and JCurve ERP are fully cloud and delivered through any Internet browser. Other products integrated with: Numerous Integrated Apps available on www.netsuite.co,/ suiteapp Level of support: Local Support provided by CloudZone One Ltd in New Zealand. Full 24/7 options available through NetSuite. Number of users per licence: One per user licence.…

Over the past 15 years or so there has been a slow, yet steady, erosion of corporate trust by consumers across the international marketplace. Many brands that we have respected and stood by for decades have been caught making poor, or downright illegal, decisions in their day-to-day business. A major example of ‘trust dilution’ was the VW scandal, where the major car manufacturer was found to be cheating emissions tests in the US. "We've totally screwed up," VW America boss Michael Horn was quoted as saying, while the group's chief executive at the time, Martin Winterkorn, said his company had "broken the trust of our customers and the public". THE RISE OF THE PERSONAL BRAND These days we value a genuine referral from a trusted friend, colleague or influencer, far…

THERE ARE KEY moments in business that are make or break. The same is true with your customers’ experience of your business. Good experience or bad experience, this is your chance. Your one moment to leave an impression that is either intentionally awesome or mistakenly terrible. So let me ask you this. Have you consciously and intentionally designed your customer experience? Marketing, at its essence, is delivering a solution to a need. But what we forget is that the experience your customers have while they are being delivered that solution is also part of marketing. Your opportunity in designing your customers’ experience is in making sure the defining moments are awesome. Take care of them in a way that makes them feel like a rock star, like you know them,…

The shape of New Zealand’s utility services sector has changed significantly over the past 12 months as strong domestic performance and new employment opportunities lure talented professionals to key leadership roles, according to Sarcha Every, director of Decipher Group. In its annual year-end business review, South Island-based human resource and recruitment firm Decipher Group found that more than 37 percent of all senior management and executive level placements were for positions within the utility services sector. Utility services refer to organisations that provide services consumed by the public, including electricity, natural gas, water and sewage. Broadband internet service providers are also included in the definition. Decipher Group’s recruitment service is usually dominated by requirements from the South Island’s strong manufacturing industry, but this year employment needs in utility services topped…

I RECENTLY SPOKE to a senior management team at one of New Zealand’s larger companies and during the ensuing one-on-ones, was asked by one of the attendees what I thought about her having to play down her feminine side to be accepted as “one of the boys”. This was the advice she’d been given by one of her peers when she was given her management role, and she felt this was directed mostly at the way she needed to dress for that role. She took that to heart by not wearing dresses, not wearing any accessories and tying her hair back at work. Although company culture will dictate your workplace dress to a point – plumbers wouldn’t look “right” fixing your leaking pipes in a business suit, I’m not sure…