Better Business, Better Life: Recent Episodes
RightWay Ltd
This podcast covers topics relevant to NZ business owners. We put a real emphasis on providing practical ideas, tips, and advice on how to move your business forward, especially in these challenging times.
In this podcast episode, Ben Lynch shares his journey into the world of open banking, starting from a personal need to avoid bank overdraft fees. This led him to develop a solution that allowed automatic fund transfers between his accounts. This side project eventually paved the way for his involvement in creating open banking solutions. He discusses the concept of open banking, its current status in New Zealand, and the potential regulations that might shape its future. Ben also introduces Akahu and Dolla, platforms that aim to streamline banking and payment processes for individuals and small businesses, illustrating the practical applications and benefits of open banking. The episode highlights the possibilities open banking presents for improving financial management and the challenges of adopting it in markets like New Zealand. To find out more about Akahu and Dolla, check out the links below.www.akahu.nzwww.dolla.nz00:00 Welcome to the Podcast & Introduction to Open Banking00:22 Ben's Journey: From Personal Banking Frustration to Open Banking Pioneer05:23 The Evolution of Open Banking and Its Impact11:58 The Current State and Future of Open Banking in New Zealand22:04 Exploring the Potential of Open Banking for Businesses and Consumers30:14 Addressing Security Concerns and the Path Forward for Open Banking35:14 Closing Thoughts and the Future of Open Banking Applications
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In this episode of the Better Business, Better Life podcast, hosts Stuart Wilkinson and Shelley Dickson discuss the relaunch of their podcast with a focus on sharing insights and lessons from their client experiences, the inclusion of guest speakers on pertinent business topics, and the importance of engaging with their audience for content ideas. They delve into a report by MindShop titled 'What to Adopt and What to Abandon' aimed at business leaders, which outlines actionable strategies for business growth and improvement. The report highlights the need for businesses to focus on their plans, strategies, and, most importantly, implementation, amidst a world crowded with information and distractions. Key topics explored include the importance of adopting contrarian thinking, timeboxing, operational excellence, leadership skills, leveraging AI and technology, and abandoning practices like searching for unicorn team members, holding a fixed mindset, and neglecting work and life balance. Stuart and Shelley emphasize the significance of understanding profitable growth, building high-quality teams, and the steps necessary to effectively implement recommended changes.To access the report, click on the link here.To access the Mindshop Growth and Profit Diagnostics, click on the link here00:00 Introduction and Podcast Revival00:47 Goals for the Podcast Relaunch02:09 Discussion on MindShop Report03:34 Adopting New Strategies for Business20:38 Abandoning Old Practices for Business Growth30:39 Steps to Take Action and Conclusion
In this podcast, Stuart Wilkinson and Shelley Dickson discuss the New Zealand budget and its implications for business owners. They highlight key points such as the extension of early childhood care assistance programs, the scrapping of prescription co-payments, and free public transport for children under 13. They also mention the significant investment in infrastructure, including a focus on cyclone relief and support for apprenticeship programs. One important change discussed is the increase in the trust tax rate from 33% to 39%, which may impact individuals using trusts for tax minimization purposes. The hosts also touch on the need for infrastructure development to keep up with population growth and migration. They speculate on potential tax changes in the upcoming election year to address the country's debt and funding requirements. Overall, the discussion covers various aspects of the budget and its implications for businesses and individuals in New Zealand.
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In today's episode, we discuss cyber security with RightWay's IT specialist Callum! We delve into the types of attacks that are frequently becoming problematic for business owners, such as ransomware, comprised business emails, and phishing scams. We also look into ways to protect yourself from an insider threat and how to protect your data from a breach. Filled with practical tips and advice from both ex-business owners and our IT guru this episode is not to be missed! During the episode we reference the following: https://www.cert.govt.nz/ (https://www.cert.govt.nz/) https://www.bbc.co.uk/programmes/w13xtvg9/episodes/downloads (BBC World Service - The Lazarus Heist - Downloads)
To find out more about RightWay, check out our website or any of social media channels Website - https://my.captivate.fm/www.rightway.co.nz (www.rightway.co.nz) Facebook - https://www.facebook.com/RightWayAccountingNZ/ (RightWay - Home (facebook.com)) Linkedin - https://my.captivate.fm/www.linkedin.com/company/rightway-limited/ (RightWay Linkedin) Instagram - https://www.instagram.com/rightwaynz/ (RightWay - Instagram) YouTube - https://www.youtube.com/channel/UCGImsU9f_jlBCCAyXHvEuPg/featured (RightWay - YouTube)
On today's show, Stuart and Dave thought it was time to go through some of the stories that have been in the news that affect business owners. They discuss the latest rise in the Offical Cash Rate and what this means to lending, interest costs and potential ripple effects. They then dive into a couple of proposed legislative changes which could affect Business Owners. Fair Pay agreements and a national income insurance scheme. They discuss these initiatives and how they could affect business owners. In the episode, they reference a couple of articles which you can find links for below: https://www2.deloitte.com/nz/en/pages/tax-alerts/articles/new-zealand-income-insurance-scheme.html (A New Zealand Income Insurance Scheme – What does this mean? | Tax Alert - March 2022 | Deloitte New Zealand) https://www.pwc.co.nz/pdfs/2021/fair-pay-agreements-thought-leadership-august-2021.pdf (fair-pay-agreements-thought-leadership-august-2021.pdf (pwc.co.nz))
To find our more about RightWay, check out our website or any of social media channels Website - https://my.captivate.fm/www.rightway.co.nz (www.rightway.co.nz ) Facebook - https://www.facebook.com/RightWayAccountingNZ/ (RightWay - Home (facebook.com)) Linkedin - https://my.captivate.fm/www.linkedin.com/company/rightway-limited/ (RightWay Linkedin) Instagram - https://www.instagram.com/rightwaynz/ (RightWay - Instagram) YouTube - https://www.youtube.com/channel/UCGImsU9f_jlBCCAyXHvEuPg/featured (RightWay - YouTube)
As it's Mental Health Awareness Week in New Zealand, we decided to discuss an important discipline every business owner should work on priortising... their mental health! During the episode we call on Dave's well-being expertise, through his previous employment as a personal trainer, to provide a few tips and tricks to help you make your wellbeing a priority both at work and at home.
To find out more about RightWay check out our website or any of our social media channels, Website - https://player.captivate.fm/show/www.rightway.co.nz (www.rightway.co.nz) Facebook - https://www.facebook.com/RightWayAccountingNZ/ (RightWay - Home (facebook.com)) Linkedin - https://player.captivate.fm/show/www.linkedin.com/company/rightway-limited/ (RightWay Linkedin) Instagram - https://www.instagram.com/rightwaynz/ (RightWay - Instagram) YouTube - https://www.youtube.com/channel/UCGImsU9f_jlBCCAyXHvEuPg/featured (RightWay - YouTube)
If you would like to suggest a topic of discussion please email marketing@rightway.co.nz
In part two of our sales and marketing discussion, Dave and Stuart discuss how you convert a sale. In part one, they dove into marketing your product/service and defining your customer, now, in part 2 they dig into the process of selling! During the episode, they discuss how a good sales process can make a huge difference to the time it takes to get a sale over the line and how much it can increase the chance of a conversion. They talk through real-life examples, which all business owners can relate to. Finally, they discuss how technology can help you be more efficient with your time. During the episode, Stu discusses taking your admin online and references: https://released.co.nz/ (Released - Award Winning NZ Virtual Assistant Team for Trade Professionals) To find out more about RightWay check out our website or any of our social media channels, Website - https://player.captivate.fm/show/www.rightway.co.nz (www.rightway.co.nz) Facebook - https://www.facebook.com/RightWayAccountingNZ/ (RightWay - Home (facebook.com)) Linkedin - https://player.captivate.fm/show/www.linkedin.com/company/rightway-limited/ (RightWay Linkedin) Instagram - https://www.instagram.com/rightwaynz/ (RightWay - Instagram) YouTube - https://www.youtube.com/channel/UCGImsU9f_jlBCCAyXHvEuPg/featured (RightWay - YouTube)
If you would like to suggest a topic of discussion please email marketing@rightway.co.nz *Please be aware this episode does contain one piece of bad language.
In today's episode, we focus on growth and how you start the process of looking to grow your business. We look at who your customer is and how this can affect your business model. We use a number of real-life examples to show the importance of knowing your customer and looking at who your competition is. This may be different from what you have traditional thought... To find out more about RightWay check out our website or any of our social media channels, Website - https://player.captivate.fm/show/www.rightway.co.nz (www.rightway.co.nz) Facebook - https://www.facebook.com/RightWayAccountingNZ/ (RightWay - Home (facebook.com)) Linkedin - https://player.captivate.fm/show/www.linkedin.com/company/rightway-limited/ (RightWay Linkedin) Instagram - https://www.instagram.com/rightwaynz/ (RightWay - Instagram) YouTube - https://www.youtube.com/channel/UCGImsU9f_jlBCCAyXHvEuPg/featured (RightWay - YouTube)
If you would like to suggest a topic of discussion please email marketing@rightway.co.nz Within the episode, we reference Rollers Bakery and their amazing donuts! https://www.instagram.com/rollersbakerynz/?igshid=YmMyMTA2M2Y%3D (ROLLERS BAKERY (@rollersbakerynz) • Instagram photos and videos)
Gross profit is one of the most important financial metrics to keep an eye on in your business. It has a significant impact on the overall profitability of your business and cash flow. As businesses grow and develop multiple revenue streams, having visibility over gross profit can become difficult. Today, Dave and Stuart discuss why it’s important to focus on your gross profit, how you can start to get visibility of your gross profit, and the benefits of maximising your margin.
To find out more about RightWay check out our website or any of our social media channels, Website - https://player.captivate.fm/show/www.rightway.co.nz (www.rightway.co.nz) Facebook - https://www.facebook.com/RightWayAccountingNZ/ (RightWay - Home (facebook.com)) Linkedin - https://player.captivate.fm/show/www.linkedin.com/company/rightway-limited/ (RightWay Linkedin) Instagram - https://www.instagram.com/rightwaynz/ (RightWay - Instagram) YouTube - https://www.youtube.com/channel/UCGImsU9f_jlBCCAyXHvEuPg/featured (RightWay - YouTube)
If you would like to suggest a topic of discussion please email marketing@rightway.co.nz
Within the episode, we reference an episode on the Tim Ferris podcast, where he interviews James Dyson. Here is a link to the episode - https://tim.blog/2021/09/02/james-dyson/
In this episode of the Better Business, Better Business Podcast we learn to understand Provisional Tax and how Tax Management can really help when it comes to managing cashflow issues within your business. To find out more about RightWay check out our website or any of our social media channels, Website - https://player.captivate.fm/show/www.rightway.co.nz (www.rightway.co.nz) Facebook - https://www.facebook.com/RightWayAccountingNZ/ (RightWay - Home (facebook.com)) Linkedin - https://player.captivate.fm/show/www.linkedin.com/company/rightway-limited/ (RightWay Linkedin) Instagram - https://www.instagram.com/rightwaynz/ (RightWay - Instagram) YouTube - https://www.youtube.com/channel/UCGImsU9f_jlBCCAyXHvEuPg/featured (RightWay - YouTube)
Selling your business simply isn't as easy as selling your house! In today's episode, we discuss, considerations to make when selling your business and how important it is to think about the selling process well before you actually want to sell! Joining us today is RightWay's Operation Manager, Lauren Bastin, who along with our podcast co-host and RightWay Business Partner, Dave Jaggs, have personal experience in this matter having done this themselves fairly recently. To find out more about RightWay, check out our website or any of social media channels Website - https://my.captivate.fm/www.rightway.co.nz (www.rightway.co.nz) Facebook - https://www.facebook.com/RightWayAccountingNZ/ (RightWay - Home (facebook.com)) Linkedin - https://my.captivate.fm/www.linkedin.com/company/rightway-limited/ (RightWay Linkedin) Instagram - https://www.instagram.com/rightwaynz/ (RightWay - Instagram) YouTube - https://www.youtube.com/channel/UCGImsU9f_jlBCCAyXHvEuPg/featured (RightWay - YouTube)
We all know of GST, as it is part of our daily life, but do we really understand it? Cherie Porter, CFO at RightWay and Ethan Harrex, Business Partner in Dunedin, go through everything you need to know about GST and how you can make sure it doesn't affect your margins or cash flow. To find our more about RightWay, check out our website or any of social media channels Website - https://my.captivate.fm/www.rightway.co.nz (www.rightway.co.nz ) Facebook - https://www.facebook.com/RightWayAccountingNZ/ (RightWay - Home (facebook.com)) Linkedin - https://my.captivate.fm/www.linkedin.com/company/rightway-limited/ (RightWay Linkedin) Instagram - https://www.instagram.com/rightwaynz/ (RightWay - Instagram) YouTube - https://www.youtube.com/channel/UCGImsU9f_jlBCCAyXHvEuPg/featured (RightWay - YouTube)
Today on the podcast, Ethan, my south Island counterpart and I discussed how the Pareto principles could be applied in your business and the decisions you make on how to move forward. For those who don't know, the Pareto principle states that roughly 80% of consequences come from 20% of causes for many outcomes. Other names for this principle are the 80/20 rule and the law of the vital few. To find our more about RightWay check out our website or any of social media channels Website - www.rightway.co.nz Facebook - https://www.facebook.com/RightWayAccountingNZ/ (RightWay - Home (facebook.com)) Linkedin - RightWay Linkedin Instagram - https://www.instagram.com/rightwaynz/ (RightWay - Instagram) YouTube - https://www.youtube.com/channel/UCGImsU9f_jlBCCAyXHvEuPg/featured (RightWay - YouTube)
Over the last few months, there has been plenty of coverage in the press of the construction industry's challenges. In today's episode, we discuss what business owners need to be aware of and go over the six factors impacting the industry, which were recently highlighted in an NZ Herald Article. Inflation Shortage of materials High Volume of construction Shortage of labour Challenges getting access to finance Ongoing impact of the pandemic
https://www.nzherald.co.nz/business/the-front-page-six-factors-leading-to-perfect-storm-in-the-building-sector/F27OO3UQUGXBFGYZV75IRWGM3M/ (The Front Page: Six factors leading to perfect storm in the building sector - NZ Herald) Joining Dave and me today is Rhona Lovell, our Business Partner based in the Wairarapa. Rho has worked with many clients in the construction industry, but alongside this, her husband runs a successful building company. Rho shares her insights and ideas for business owners on what they can do to overcome the challenges they face. When businesses face these challenges, you must know you are not alone. There is plenty of support out there, and your accountant is one of those people you can lean on To find our more about RightWay, check out our website or any of social media channels Website - https://my.captivate.fm/www.rightway.co.nz (www.rightway.co.nz ) Facebook - https://www.facebook.com/RightWayAccountingNZ/ (RightWay - Home (facebook.com)) Linkedin - https://my.captivate.fm/www.linkedin.com/company/rightway-limited/ (RightWay Linkedin) Instagram - https://www.instagram.com/rightwaynz/ (RightWay - Instagram) YouTube - https://www.youtube.com/channel/UCGImsU9f_jlBCCAyXHvEuPg/featured (RightWay - YouTube)
Today's episode is about Sustainable Competitive Advantage. We discuss how understanding your competitive advantage can help you stand out from your competitors, help grow your business and maintain margins. It can also help with your decision making. Dave shares his experience from his previous business and how it helped grow the business and attract the right customers, but also what happened when they went away from it. In the episode, we reference a Mindshop model which can help you understand your Sustainable Competitive Advantage. Here is a link to an overview of the model and instructions on how to use it - https://www.loom.com/share/89876baa647549b5b4672a84affb1b05 (https://www.loom.com/share/89876baa647549b5b4672a84affb1b05)
This week https://www.rightway.co.nz/people/stuart-wilkinson (Stuart Wilkinson) and https://www.rightway.co.nz/people/dave-jaggs (Dave Jaggs) take a dive into apps that can have real impact on your business. Whether that's for efficiency, bringing your team together, or creating a professional look. https://www.canva.com/en_gb/ (Canva) https://calendly.com/ (Calendly) https://richardstep.com/dope-personality-type-quiz/dope-bird-4-personality-types-test-questions-online-version/ (Bird test) https://www.hubspot.com/ (Hubspot CRM) & https://www.notion.so/ (Notion) https://miro.com/ (Miro) https://www.microsoft.com/en-nz/microsoft-teams/group-chat-software?ms.officeurl=teams&rtc=1 (Microsoft Teams)
The Budget is out, so Stuart Wilkinson and Dave Jaggs sort through all the facts and figures to see what exactly is in there for business owners. You might be surprised at some of the opportunities... For more information on the Apprenticeship Boost please visit https://www.workandincome.govt.nz/employers/subsidies-training-and-other-help/apprenticeship-boost/index.html (Apprenticeship Boost - Work and Income) To find out what apprenticeships are available, and which TITO and receiving education providers to contact, refer to the https://www.tec.govt.nz/assets/Forms-templates-and-guides/NZ-Apprenticeships-Register-for-Learners.xls (New Zealand Apprenticeships Register) (note: when you click this link it will allow you to view an excel shit with the list)
How do you get back to maintaining growth in your business during a downturn? https://www.rightway.co.nz/people/stuart-wilkinson (Stuart Wilkinson) and https://www.rightway.co.nz/people/dave-jaggs (Dave Jaggs) from RightWay chat through how businesses can maintain growth in the current market, as well as maximising the opportunities as others may be forced to hunker down.
This week Stuart Wilkinson and Dave Jaggs chat through inflation, interest rates, the cost of living crises and what it all means, and what you can be doing to secure yourself in this situation and actually leverage off it. Main areas discussed are business financing and what does that look like, and how is it going to be affected. Customer spending and what you need to take into consideration. And the business opportunities in this situation and what you should be doing within your business to get some leverage and security.
In this episode, RightWay's https://www.rightway.co.nz/people/greg-hughes (Greg Hughes) joins https://www.rightway.co.nz/people/stuart-wilkinson (Stuart Wilkinson) to talk inflation. We know this has been a topic for a while with inflation pressures starting to hit New Zealand, and globally. So what does that mean for business owners? How do business owners review their business and take inflation into consideration?
This week, hosted by RightWay CFO https://www.rightway.co.nz/people/cherie-porter (Cherie Porter), we cover chart of accounts and why you need to know about them in your business. Joined by RightWay's https://www.rightway.co.nz/people/raj-malhotra (Raj Malhotra) and https://www.rightway.co.nz/people/naomi-lowe (Naomi Lowe) we talk through what chart of accounts are, why they're important, and how they can help have an impact on your business.
With the announcement of the movement back to Red light for the whole country, it was a trigger to show us we are entering the next stage of the pandemic. We will now be working as “normal” while COVID is in the community. This provides new challenges for business owners, particularly staff, supply chains and customers. Today we discuss those challenges and look at ways you can manage your business to reduce interruption while looking after the wellbeing of your staff. Joining me for the conversation is Dave Jaggs, Business Partner based in Tauranga and AJ Halliday, HR Consultant based in Christchurch. In this episode, we discuss how to use technology to help keep in contact with your team, and we mention a tool called Loom. You can find out more information about this at http://www.loom.com (www.loom.com.) AJ discusses several areas which you will need to for our staff. If you need to reach out to her, contact her at AJ.halliday@rightway.co.nz.
Joined by https://www.rightway.co.nz/people/dave-jaggs (Dave Jaggs), RightWay Business Partner, we talk about goal setting and how you put a plan in place for the year ahead. We talk through a process we take our clients through and why it's important to look at your business through a number of different lenses, and we also chat through the execution of those goals. Enjoy!
New Zealand’s baking landscape is unique, with our central banks being owned by Australian banks and a very traditional banking setup. Yet overseas, 'open banking' is creating a new type of financial supplier, bringing new technology and benefits to businesses, like lower fees, instant payments and more. In this podcast, we chat with Shaun Marsh, the co-founder of Dosh, New Zealand’s first digital wallet. Shaun and his co-founder James started Dosh after using Digital Wallets and similar apps in Singapore, where the two were based for several years. They have created New Zealand’s first digital wallet, and in this podcast, Shaun takes us through what is possible and how we should think differently about payments and banking. Shaun explains what open banking is and how it came about. From there, we discuss what opportunities this provides kiwi businesses and how it can make their life easier. To learn more about Dosh, check out their website, where you can download an app or apply for a Dosh business account - https://dosh.nz/ (Dosh - Payments Made Simple)
Joining Dave this week, we have https://www.rightway.co.nz/people/rachel-harris (Rachel Harris), HR Manager, and https://www.rightway.co.nz/people/rhian-ecclestone (Rhian Ecclestone), Marketing Executive, to chat through what you should be taking some time to think about before hitting Christmas.
What does it look like for you operating your business under this new framework moving forward? Stuart is away this episode, so we’ve got Tauranga Business Partner https://www.rightway.co.nz/people/dave-jaggs (Dave Jaggs) filling in, and he’s joined by Dunedin Business Partner https://www.rightway.co.nz/people/ethan-harrex (Ethan Harrex), and Christchurch Bookkeeper https://www.rightway.co.nz/people/tania-fernandez (Tania Fernandez).
In this episode, we discuss how you can get the most of Xero. In previous episodes, we have discussed the importance of up-to-date financial information within Xero on many occasions, so how do you achieve this. Joining us today on the podcast is https://www.rightway.co.nz/people/tania-fernandez (Tania Fernandez) and https://www.rightway.co.nz/people/naomi-lowe (Naomi Lowe), who are both parts of RightWay’s bookkeeping team. In this episode, we cover a lot of ground. First, we discuss some of the common mistakes Business Owners make in Xero. Then, we look at how you structure Xero to help you make good decisions for your business. Next, how do you make sure Xero add on’s make life easier, not harder. Finally, how do you use Xero to make sure you get paid on time. Plus top tips for managing payroll. One of the top tips we discuss is invoice reminders. https://central.xero.com/s/article/Set-up-invoice-reminders (Click here to find out more information on how you put this in place). If you want to reach out to any of our bookkeepers, https://www.rightway.co.nz/bookkeeping (click here to head to RightWay's website).
In this episode we discuss how businesses manage a shutdown period on reduced cash reserves due to the lockdowns, and on the other side of the coin, how do companies make the most of this time of year, even with restrictions in place. Despite this year being different, there are still the typical considerations businesses need to make around staff, inventory, and communication with customers. Finally, we take some time to talk about your wellbeing as a business owner. How do you look after yourself after what has been a very hard few months? Our guests today are https://www.rightway.co.nz/people/shelley-dickson (Shelley Dickson), Chief of Business Development, https://www.rightway.co.nz/people/ethan-harrex (Ethan Harrex), our Business Partner in Dunedin, and https://www.rightway.co.nz/people/angela-mulcahy (Angela Mulcahy), who is our Bookkeeping Team Leader. We reference some of the previous episodes we have done, and here are the links to those episodes. https://better-business-rightway.simplecast.com/episodes/featured-episode-craig-hudson-managing-director-of-xero-nz-and-pacific-islands-insights-into-wellbeing-affects-of-covid-19-on-small-business-and-how-to-move-forward (Interview with Craig Hudson, Insights into Wellbeing)
Our guests today are https://www.rightway.co.nz/people/dave-jaggs (Dave Jaggs), our Business Partner in Tauranga and https://www.rightway.co.nz/people/ethan-harrex (Ethan Harrex), who is our Business Partner in Dunedin. We start by talking through some examples of businesses that have innovated their business model to thrive in a COVID world. We then look at if you want to change your business model, what do you need to think about, and how do you make that change. Finally, we look at the areas all business owners need to be mindful of at the moment https://hbr.org/2020/09/adapt-your-business-to-the-new-reality (Here's the link to the Harvard Business Review article) we reference in the podcast.
We also talk about how you can make some of these restrictions work for your business over the long term, giving your customers confidence that they will be safe in your environment. Our guests today are https://www.rightway.co.nz/people/dave-jaggs (Dave Jaggs), RightWay Business Partner in Tauranga and https://www.rightway.co.nz/people/lauren-bastin (Lauren Bastin), who is one of our Regional Accounting Managers, who is also from Tauranga. Both Dave and Lauren are former business owners who have operated in the hospitality and health industries, so they are in a great position to offer some valuable insights. We reference some of the previous episodes we have done, and here are the links to those episodes. https://better-business-rightway.simplecast.com/episodes/avoiding-the-pitfalls-in-ecommerce (Avoiding the pitfalls of e-commerce) https://better-business-rightway.simplecast.com/episodes/hospitality-focus-what-are-the-foundations-of-a-profitable-hospitality-business-with-casey-dalton (What are the foundations to a profitable hospitality business)
We're joined by Sean Donaldson, RightWay's Agri Team Leader, to talk through what these property tax changes actually mean, and what impact it could have on you.
Joining this week is Senior Business Partner Greg Hughes, and Senior Business Partner Daniel Murphy to chat through the ins and out of the 2021 Budget. We also talk about some of the recent Government announcements including: Investment properties and changes made to the Brightline test The minimum wage increase The sick leave entitlement increase.
In this final episode we chat to https://www.rightway.co.nz/people/greg-hughes (Greg Hughes) (Business Partner), https://www.rightway.co.nz/people/daniel-murphy (Daniel Murphy) (Business Partner), and Callum Mitchell (Technical Operations Manager). Now we're not in survival mode, what needs to change, and how do we looking ahead.
In this second episode we chat to https://www.rightway.co.nz/people/isaac-gommers (Issac Gommers) (Business Partner) and https://www.rightway.co.nz/people/hayden-bryce (Hayden Bryce) (Business Partner), who talk through adapting in changing times, and how you embrace fear.
In this first episode we chat to https://www.rightway.co.nz/people/shelley-dickson (Shelley Dickson) (Chief of Business Development) and https://www.rightway.co.nz/people/craig-wilson (Craig Wilson) (Business Partner), who talk through understanding your long term goals, and the details on getting there.
Chatting with Hugo Venter from https://www.engagingpartners.co/ (Engaging Partners), we go through where to start when moving online, and what you should consider in your ecommerce strategy. Mentioned in the episode is a webinar on 'How to squeeze maximum profitability out of ecommerce' with RightWay and Engaging Partners, which ties in nicely with this episode. Join us online on March 10, https://content.engagingpartners.co/webinar/maximum-profitability-ecommerce (registration and more information here).
We cover the following: What actions you can be doing What you can and can't control Positives and negatives
We talk about doing an activity through this episode, if you're able to we have a https://f.hubspotusercontent10.net/hubfs/2330315/RightWay_June2017/pdf/now-where-how-pos-neg-interactive.pdf (PDF you can download) and use directly.
Joining us to talk change is Bill Kirst, an Organisational Change Consultant for https://www.westmonroepartners.com/ (West Monroe) in Seattle USA. We talk about some really practical strategies on: How to make change processes successful How to get your team onboard with change How to achieve the goals you've set yourself and the business.
Bill has his own podcast, https://podcasts.apple.com/us/podcast/coffee-change/id1344001831 (Coffee and change) which has further advice and information on organisational change. If you're keen to reach out to Bill we can put you in touch. Email us on stuart@rightway.co.nz and we will forward it through to Bill.
We discuss: The Xero business insights update, which you can https://www.xero.com/content/dam/xero/pdf/xsbi-october-2020-update-nz.pdf (read in detail here). The ASB quarterly update to look at the broader economy and what they're predicting for 2021. https://www.asb.co.nz/content/dam/asb/documents/reports/quarterly-economic-forecasts/quarterly_economic_forecasts_dec_2020.pdf (The full report is here). The Retail NZ sales indicator to see what's happening with retail spending throughout NZ. http://www.retail.kiwi/advice/benchmarking-data (Read more about that here).
During the episode we also reference our first ever podcast discussing cash flow in business, you can https://open.spotify.com/episode/4EsIXP5GygKlENmHYMlxpd?si=VPqZc2mKRk20hAsPJ3PCZA (listen to that here).
During the episode, we reference a handy tool to work out your employee’s rights to holidays and leave, and what to pay them. https://www.employment.govt.nz/leave-and-holidays/otherwise-working-day/ (You can access this tool here.) If you have any HR concerns in your business, the team at RightWay can help. https://www.rightway.co.nz/hr-services (Find out more here).
During the episode, we reference one of our previous episodes on the foundations of a profitable hospitality business. https://business-isnt-usual-rightway.simplecast.com/episodes/hospitality-focus-what-are-the-foundations-of-a-profitable-hospitality-business-with-casey-dalton (You can listen to this episode here.)
We're wrapping up our election mini-series with a summary episode. Stuart Wilkinson is joined by Anna Steele and Greg Hughes, Business Partners at RightWay, to go over some of the main themes covered in the previous episodes. Over the last few weeks, we've been chatting to the main political parties small business spokespeople, so in this episode we breakdown the main themes from those conversations, and talk through what hasn't been answered. This is a great conversation that gives some political perspective for small business owners. And don't forget to vote!
In the third episode of our election mini-series, we catch up with Chlöe Swarbrick, Green Party list MP and Green Party spokesperson for education, internal affairs, sensible drug law reform, local Government, arts culture & heritage, small business, broadcasting and youth. This was a great opportunity to talk in depth about a range of topics with Chlöe, which you don’t often hear through traditional interviews. Some of the areas we discuss area: Chlöe's views on how COVID-19 has affected business and how have businesses dealt with the uncertainty. Building businesses back to pre-COVID levels. Being more agile in business. Chlöe's advice for business owners over the next 12 months.
In the second of our three-episode election mini-series, we catch up with Andrew Bayly, National MP for Hunua and National spokesperson for Revenue, Commerce, State Owned Enterprises, Small Business, and Manufacturing. This was a great opportunity to talk in depth about a range of topics with Andrew, which you don’t often hear through traditional interviews. Some of the areas we discuss area: Andrew's views on how COVID-19 has affected business and how have businesses dealt with the uncertainty. National's policy to support small business. Financial literacy in business. Andrew's advice on dealing with change and decision making. What business owners can learn about marketing from MP’s. Advice for business owners over the next 12 months.
In the first of our three-episode election mini-series, we catch up with Minister Stuart Nash, Labour MP for Napier, Minster for Small Business, Revenue, and Fisheries. Due to the format this gave us an opportunity to talk in depth about a range of topics, which you don’t often hear through traditional interviews. Some of the areas we discuss area: Stuart’s views on how COVID-19 has affected business and how have businesses dealt with the uncertainty. The importance of digital transformation for business and the Government. Labour’s policy to support small business. Stuart’s advice on dealing with change and decision making. We talk through the decisions made by cabinet in relation to the wage subsidy as an example of this. What business owners can learn about marketing from MP’s. Advice for business owners over the next 12 months.
With the announcement by the Government of the new wage subsidy on Monday 17th August 2020, we thought it would be good to cover off all the details with Rachel Harris, HR Advisory at RightWay. We take a look at the qualification criteria and how this works alongside the existing wage subsidy. We \cover off the Leave Support Scheme, which is there to support businesses who have employees that need to take time off due to being infected with COVID19 or because they are a close contact. Rachel finally covers off some of the things you still need to remember when making changes in your business that could affect your staff. For all the details of the wage subsidy announcement check out - https://www.beehive.govt.nz/release/new-wage-subsidy-leave-scheme-protects-jobs-and-businesses (https://www.beehive.govt.nz/release/new-wage-subsidy-leave-scheme-protects-jobs-and-businesses) You can contact Rachel Harris with any questions via email - rachel.harris@rightway.co.nz
We are all back in lockdown and back where we didn't want to me. We caught up with Anna Steele and Greg Hughes to look at the Five key areas of focus for business owners so they can feel in control. We discuss the following Cashflow Cost Control Knowing your Business Leavers Know your customers Communication.
We reference a number of other episodes in this podcast we have done previously, so feel free to check them out. We discuss the Regional Business Partners funding and how this can help business. If you want to know more, feel free to contact us - www.rightway.co.nz
Today we catch up with Casey Dalton our Business Advisory Specialist based in Wellington. Casey looks after a large range of hospitality businesses in Wellington and has been working alongside them through lockdown and the COVID 19 recovery. We discuss the foundations of any hospitality business, with a focus on food costs and labour costs. We then look at how you start to manage these and measure them in your business and where do you start? In this episode, Casey speaks about POS Boss and how this can help your business. Here is a link for more information - www.posbosshq.com
We are delighted to be joined by Craig Hudson, Managing Director of Xero NZ and Pacific Islands. Craig is responsible for promoting the small business economy in New Zealand and the Pacific Islands and Xero’s relationships with government, financial institutions, and enterprise. Craig joined Xero in the UK where he led the business into market in Europe, the Middle East and South Africa. Prior to joining Xero, Craig played professional rugby in New Zealand, France, England and Wales.
We cover a range of topics with Craig but start with how Xero has dealt with lockdown, COVID 19 and how this has changed their business moving forward. We discuss their latest Small Business Insights, which shows the effect of COVID 19 and lockdown on Small Business New Zealand and how do we move forward. Finally, we discuss Wellbeing and Mental Health a subject Craig is very passionate about, we look at how Business Owners can look after themselves through these challenging times and their staff.
There are several references within the Podcast, and links to these references are below.
Xero Wellbeing Report and Assistance Program - https://www.xero.com/nz/about/social-and-environmental-impact/business-support/wellbeing-report/ (https://www.xero.com/nz/about/social-and-environmental-impact/business-support/wellbeing-report/)
Xero Small Business Insights - https://www.xero.com/content/dam/xero/pdf/media-release/xero-data-reveals-covid-19s-initial-impact-on-nz-small-business-sector.pdf (https://www.xero.com/content/dam/xero/pdf/media-release/xero-data-reveals-covid-19s-initial-impact-on-nz-small-business-sector.pdf)
Xero App Marketplace Payment Options - https://apps.xero.com/nz/function/payments (https://apps.xero.com/nz/function/payments)
Xero Short Term Cashflow Tool - https://central.xero.com/s/article/Short-term-cash-flow (https://central.xero.com/s/article/Short-term-cash-flow)
In today's episode, we catch up once again with Greg Hughes, Senior Business Partner here at RightWay based in Wellington. Our discussion today looks at what business owners are facing now that we are supposed to back to normal. Why are some thriving and what is causing people to struggle? We look at how businesses we deal with are adapting and why is knowing your customers so important. A theme we have discussed many times before on this podcast.
We look ahead for any trends that business owners need to be aware of and discuss how business owners can make sure their business is prepared to navigate the potential economic storms that are ahead.
This episode is slightly different as we look at the lessons we can learn from the Christchurch Earthquakes. To look at this, we have Shelley Dickson Regional Business Manager for RightWay on the podcast.
Shelley at the time of Christchurch Earthquakes worked from BNZ as a Small Business Banker in Lyttelton and post the earthquakes moved into mobile commercial banking role with the BNZ which actively went out to work with business owners in the Christchurch region.
Within this episode, Shelley shares her personal story of the earthquakes, plus talks about what it was like working with business owners post the earthquakes. We discuss what got businesses through this terrible time and what can we learn and be applied to the CVID 19 pandemic.
Shelley is extremely open about her experiences, and for people who were in the earthquakes and are listening to this episode, this may bring back some memories for you, so a word of warning.
In this conversation, we chat with Darren Linton, CEO of Yellow (https://yellow.co.nz/ (https://yellow.co.nz/)). Darren has an extensive career in marketing and held many senior leadership roles abroad and in New Zealand. With Yellow's focus on helping SME's promote their business, he is a great person to chat to about how business owners should think about marketing at this time.
Within the conversation we discuss
Your customers and how their world may have changed
How your product and service may need to change and how this flows into your business model
Channels to market and how you promote your business
Dealing with your staff during this uncertain time
Following the success of our first Cash is King episode, we have produced a follow-up. In this episode, we sit down with Isaac Gommers, Business Partner based in Auckland and Daniel Murphy, Business Partner based in Palmerston North to talk about cash flow forecasting. Over the next 12 months, having a plan around your cashflow is going to be crucial to make sure your business succeeds in coming out of the COVID 19 crisis. In this episode, we cover off the following points
What is cash flow forecasting, and why is it important?
How do you predict revenue in uncertain times?
How does this help your decision-making process?
We discuss the Small Business Cashflow Scheme available from the government and how customers can use this and how they shouldn't use it.
The traps you could fall into when it comes to cashflow
What do you do once you have a plan around your cashflow?
In today's episode, we discussed the 2020 Budget and what this means for New Zealand Business Owners. The budget is arguably the most significant in New Zealand history, and it gave us an idea on how the government sees us growing the economy, saving jobs and supporting business.
Joining me on the episode today to discuss the budget is Greg Hughes, Senior Business Partner based in Wellington, Anna Steele, Associate Business Partner based in Rotorua and Ernie Chan, Associate Business Partner and Tax Specialist from Nelson.
We cover off all the major announcements, go into some detail on what these mean for New Zealand Business Owners, look at what we feel might be missing and have a good discussion on the path forward for business owners. We also discuss the topic of business viability.
Within the podcast, we refer to many articles and interviews since the budget, and we have included links to these below.
Government announcement of the budget - https://www.beehive.govt.nz/feature/budget-2020-rebuilding-together (https://www.beehive.govt.nz/feature/budget-2020-rebuilding-together)
Mike Hosking's interview with Grant Robinson, discussing a potential extension of the wage subsidy scheme - https://www.iheart.com/podcast/211-the-mike-hosking-breakfast-24837692/episode/grant-robertson-on-budget-2020-government-62572806/ (https://www.iheart.com/podcast/211-the-mike-hosking-breakfast-24837692/episode/grant-robertson-on-budget-2020-government-62572806/)
Details of the wage subsidy scheme extension - https://www.workandincome.govt.nz/covid-19/wage-subsidy-extension/index.html (https://www.workandincome.govt.nz/covid-19/wage-subsidy-extension/index.html)10
In today's conversation, we catch up with Mike Stokes, CEO and Found of Indicator (www.indicator.co.nz)
Indicator is Sales consultancy firm that helps companies and individuals to navigate the complexities of sales and sales leadership.
Mike is ideally placed to talk to us today, as we face these challenging times and growing revenue is going to be crucial to business success.
The two main themes of our conversation look at how sales will change moving forward and how do we grow revenue in a recession. This leads us to discuss the following topics.
How important are sales and marketing people right now?
How we should be selling at the moment?
Ideal customer profiles
The future of sales
Technology in the sales and marketing space
If you want to download The Mood of the Sales Leader survey we reference in the podcast click this link - https://www.indicator.co.nz/tools (https://www.indicator.co.nz/tools)
To join The RightWay Business Hub Facebook Group - https://www.facebook.com/groups/526239338270211/ (https://www.facebook.com/groups/526239338270211/)
For more information about RightWay - https://www.rightway.co.nz/ (https://www.rightway.co.nz/)
We catch up again with Rachel Harris, the HR Consultant at RightWay. (https://www.rightway.co.nz/hr-services (https://www.rightway.co.nz/hr-services)). Rachel has an extensive background working in HR across numerous industries, ranging from Dunedin City Council to Canterbury District Health Board. Rachel also brings a unique perspective as Rachel is a former business owner herself in the Hospitality sector.
In the previous episode with Rachel, we talked about the wage subsidy. A month on we are hearing about new challenges business owners are facing when it comes to people. In today's conversation, we are going to discuss the following:
What are common themes that business owners are facing with there people
What are the key differences between Level 4 and 3 for business owners?
When it comes to changing the way in which employees work, or how a workforce is structured, what are some key points for business owners to think about;
Summary.
Links discussed in the Podcast
The previous episode with Rachel, discussing the wage subsidy - https://anchor.fm/rightway/episodes/How-to-manage-your-people-through-COVID---19-ebv0hd/a-a1peijg (Click Here)
Link to the NZ Herald Article we discussed in relation to the wage subsidy - https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12327324 (Click Here)
The RightWay Business Hub Facebook Group - https://www.facebook.com/groups/526239338270211/ (Click Here)
For more information about RightWay - Click Here
In this episode, we chat with Rod Macdonald, Managing Director of Fint, which designs and optimises workflows to ensure business operations are effective. Fint works with businesses to recommend and implement the right SaaS technology systems to fit their requirements.
Through the conversation, we cover off a number of topics
Where to start with process improvement?
Tools to help you look at bottlenecks in your processes
How can process improvement improve your bottom line?
How can process improvement help get more out of your staff?
How can technology help?
To find out more about Fint check out www.fint.co.nz
Rod is happy to have a chat with any listeners, with a free 20-minute call to discuss their business and processes You can contact Rod at rod@fint.co.nz
For more information about RightWay check our www.rightway.co.nz
Make sure you check out the RightWay Business Hub Facebook Group, where you can get up to date advice and support - https://www.facebook.com/groups/526239338270211/ (https://www.facebook.com/groups/526239338270211/)
In this Podcast, we have a conversation with Anna Steele (https://www.rightway.co.nz/people/anna-steele (https://www.rightway.co.nz/people/anna-steele)) about how Business Owners can use the lockdown as an opportunity to review what they want out of their business and how they can design a business that works for them.
Our conversation covers a lot but some themes are:
What work has to be done and by who?
What tasks and functions are important to you as a business owner? What do you enjoy?
How can business structure help?
The importance of vision and purpose.
Tools on how you can start to discover what's important to you as a business owner
This episode Stuart Wilkinson, Regional Business Manager at RightWay is joined by Greg Hughes, Senior Business Partner, to talk about the announcements made by the government this week. We start by looking at the expanded Business Consultancy Support Package available to business owners and the tax changes which were announced on Tuesday. More detail can be found here - https://www.beehive.govt.nz/release/government-backs-business-through-covid-19 (https://www.beehive.govt.nz/release/government-backs-business-through-covid-19)
We discuss in detail what Alet Level 3 means for business owners and things to think about before opening the doors. Especially what hospitality owners need to consider before opening up for non-contact delivery options. We go through the Alert level table and the measures business owners must put in place before getting back to business - https://covid19.govt.nz/latest-updates/alert-level-3-information/ (https://covid19.govt.nz/latest-updates/alert-level-3-information/)
IRD website with more information on the tax changes - https://www.ird.govt.nz/Updates/News-Folder/covid19-business-changes (https://www.ird.govt.nz/Updates/News-Folder/covid19-business-changes)
Regional Business Partners website - https://www.regionalbusinesspartners.co.nz/ (https://www.regionalbusinesspartners.co.nz/)
in this episode, we catch up with Shelley Dickson (https://www.rightway.co.nz/people/shelley-dickson (https://www.rightway.co.nz/people/shelley-dickson)) to talk about how to work with your bank through COIVD 19. Shelley is the Regional Business Manager here at RIghtWay for the South Island, but before RightWay, she spent ten years at BNZ as a Commercial Banker.
In today's conversation, we discuss how to work with our bank through this difficult time. We talk about a range of topics including
What are the banks going through at the moment?
What are banks looking for from business owners?
What options are out there in the market in regards to lending
How to approach your bank if you are concerned about not being able to fulfil repayments on an existing loan.
To access the RightWay Business Hub Facebook Group which we refer to in the podcast click https://www.facebook.com/groups/526239338270211/ (here )
In this episode, we speak with Ernie Chan (https://www.rightway.co.nz/people/ernie-chan (https://www.rightway.co.nz/people/ernie-chan)). Ernie started his career in tax at Deloitte and has worked in many tax teams across the country as well in the commercial sector at the NZX.
In this conversation with Ernie, we talk about the tax changes announced by the government, as part of their economic package in response to COVID 19. We talk through what they are, how they work for business owners, and how you can manage your tax obligations through this turbulent time.
Within the conversational, we talk about the AIM and how this might work for business owners. For more information on AIM check out this video - https://youtu.be/sW-DLtWNEoA
In this episode, we chat with Rachel Harris, an HR Consultant at RightWay. (https://www.rightway.co.nz/hr-services (https://www.rightway.co.nz/hr-services)). Rachel has an extensive background working in HR across numerous industries, ranging from Dunedin City Council to Canterbury District Health Board. Rachel also brings a unique perspective as Rachel is a former business owner herself in the Hospitality sector.
Over the last few weeks, business owners have had a lot of questions on how they work with their people through COVID 19 and today's episode will cover off the main themes around HR, staff and the government's wage subsidy. Rachel has been on the front line working with business owners over the last two week's and has a wealth of knowledge to share.
In today's conversation with Rachel we discuss the following topics
The biggest challenge facing businesses at the current time in an employment sense
The key themes or questions that are coming through from business owners
The misconceptions that are out there
As companies move through the lockdown period, what should business owners be thinking about?
If you have any questions feel free to contact Rachel at rachel.harris@rightway.co.nz
We chat with Greg Hughes (www.rightway.co.nz/people/greg-hughes) RightWay Business Partner to discuss practical ideas on how you can manage cash in these tough times, when revenue is falling and so much uncertainty.