October 2021 - Bay of Plenty Business News

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10 BAY OF PLENTY BUSINESS NEWS October/November 2021 Something new or something familiar? SPECIAL FOCUS FRANCHISING > BY NATHAN BONNEY Nathan Bonney is a director of Iridium Partners. He can be reached at nathan@iridium.net.nz or 0275-393-022 To have a successful franchised hair salon does not necessarily require you to be a trained hair stylist, you would, however, require good business management skills With over 600 systems covering just about every conceivable business service and function, choosing a franchise business can be a daunting task for most people. A common approach has been for potential franchisee entrepreneurs to create their short-list based on an industry or category that interests them, or which they believe will provide them the financial returns and lifestyle they desire. There is nothing wrong with this approach and it is a good start, as enjoying what you do so very important. One of the main drivers as to why people do what they do is how does it make them feel? Owning your own franchise business is after all not just another job, it’s an extension of you and the lifestyle you have chosen to enjoy. The past 18 months or so has seen a greater focus on this and it will continue on as we move forward in a world with Covid. If you are reading this, then you probably have an interest in exploring franchising and perhaps have started thinking about what might suit you and your lifestyle. As you start down this path there are a couple of preliminary questions to consider: • What do you enjoy doing about what you are currently doing and on the flipside what do you not enjoy in what you are currently doing? Many people fail to delve down into this and find it difficult to pinpoint but it is an important area to cover off. • What current skillset do you have? You might have a qualification in a specific area – is this relevant to what makes you happy? Do you enjoy the work associated with your qualification? So, perhaps the fact that you have a qualification demonstrates that you are coachable, trainable, and tenacious to see things through. Are you brave enough to try something new utilising the core skills you already have? What transferable skills do you have ie are you a person who thrives on customer interaction, managing people, or are you a dab hand at working with tools? • Do you enjoy the outdoors or prefer to work in an office type environment? • Are you someone who needs variety in their work, or do you prefer to have a set routine? Enjoying what you do is so very important, having the precise skillset for a specific franchise business is less important as long as you have transferable skills. For example, to have a successful franchised hair salon does not necessarily require you to be a trained hair stylist, you would, however, require good business management skills as at the end of the day you are responsible for the growth and success of the business overall not just cutting hair. Being coachable and able to follow a system is fundamental, enjoying what you actually do day to day is critical. Everyone has a unique skillset, it just comes down to being able to identify this and perhaps try something new. Taking the leap does take bravery but is so very, very rewarding. POST LOCKDOWN 2.0 a business naviGation guide As Bay businesses move into post-lockdown 2.0, the months ahead will be challenging. With resource constraints in staff and stock plus production and project flow bottlenecks, businesses are focused on resuming their optimal operational levels. Leadership, guidance and support are what businesses need to help them successfully navigate and manage the challenging environment ahead. This issue, our special feature draws on industry experts and businesses to hear their story, plans and forward vision for doing business in this economic season. Paul O’Driscoll David Forbes David McConnochie Nicola Muir Brett Bell-Booth Philip Kilpatrick Get the expert help you need Forsyth Barr Andrew Davis Karl Mabbutt years combined hands on building 60+ knowledge and experience industry innovative, cost effective building Unique, techniques assessment thinking approach to problem Lateral and design solutions solving years combined project management 20 experience performance in nation-wide Proven and large residential projects commercial relationships with key industry Strong stakeholders 0800 727 007 / 027 222 8014 P: of Plenty / Hawke's Bay Offices Bay www.centralbuildingsurveyors.co.nz www.cactusprojectmgmt.co.nz Do you have a plan on how to best meet your future financial needs? Ensuring that you have enough income to see you through retirement and are able to manage unforeseen changes in income can be a significant challenge. At Forsyth Barr we have a dedicated team who can help you to plan, build and manage an investment portfolio to suit your needs. Fees and charges will apply if you elect to have a continuing relationship with Forsyth Barr. Whether you need to maintain a certain level of income, or grow funds to help future generations reach their financial goals without the burden of debt, we can provide the expert help. Contact us for a free review of your investments in confidence and a no-obligation discussion on how we can help you achieve your future financial goals. 40 Selwyn Street, Tauranga | (07) 578 2737 | forsythbarr.co.nz TAU6195-04 © Forsyth Barr Limited April 2021
SPECIAL FOCUS October/November 2021 BAY OF PLENTY BUSINESS NEWS 11 TELECOMMUNICATIONS 2degrees helping keep business connected as NZ navigates lockdown Andrew Fairgray, Chief Business Officer, 2degrees Over the last 18 months Covid-19 has changed the way we work, the way we interact and the way we do business. Remaining connected will help NZ business navigate through. 2degrees is in the business of connection, as a full-service telco offering mobile, broadband and other technology experiences. This focus on connection manifests itself in a few different ways at 2degrees, says Chief Business Officer Andrew Fairgray, and that’s through providing customers with a strong and reliable network, by building meaningful external partnerships, and by continuing to provide products and services that businesses want and need. “We’re all about Fighting for Fair for Kiwi Business, and we see these three things as critical to supporting that purpose, as well as NZ Inc,” he says. The 2degrees network: Business connection, in or out of lockdown, starts with a strong network says Andrew, and in the Bay of Plenty region 2degrees has had consistent network coverage for some time, with 96% of the region where kiwis live and work covered by 2degrees’ 4G network. The $1 billion spent on the network in recent years hasn’t gone unnoticed by customers either, with 2degrees taking out the Canstar Blue Small Business Telecommunications Most Satisfied Customers award for 2021. The award recognises a range of different drivers which contribute to customer satisfaction, including network, and 2degrees scored 5 out of 5 stars in this category, the most of any telco included in the survey results. Meaningful partnerships: 2degrees has also made strong connections with external partners, particularly those with shared values of backing Kiwi businesses to thrive. One of these is Manaaki, a company started as a SME advice tool in the first nationwide lockdown last year. It has grown into a community that’s engaged with more than 300,000 New Zealanders to empower them with advice from business experts, content to upskill and grow, and networking opportunities. “Prior to lockdown, we partnered with Manaaki to develop Kōrero with Manaaki, which gives business owners the opportunity to catch up with a Kiwi business expert to have a chat and learn from their insight and expertise,” says Andrew. “Once the country moved back to level four, we worked with Manaaki to get Kōrero out to more businesses, giving them expert advice when they most need it, on us.” Providing business with products and services to keep them connected: A recent iteration of the 2degrees Shaping Business Study highlighted that it was strong and reliable broadband, correct technology set-up and cloud security for protection that would keep business operating and connected through lockdowns and beyond. So, 2degrees business has been launching timely and relevant new products to market including an out-of-the-box software-defined wide area network (SD-WAN) solution called Insight Network that simplifies the management and operation of a business’ WAN. Insight Network provides organisations with network control and visibility, insights, data safety, and application prioritisation. “We know more than ever before that businesses are exploring their options when it comes to the cloud and the opportunity SD-WAN brings. This solution is fully scalable and delivers what we know our customers are looking for, business efficiency, convenience and simplicity” Andrew says. “Everything we do and deliver at 2degrees is so businesses can focus on what matters most, staying connected and doing business, whether in lockdown or not.” MORTGAGES Making the most of your mortgage NZHL Tauranga business owner, David Hill, shares why now is the perfect time to review your home loan. With interest rates on the rise and ongoing Covid uncertainties, the cost of ‘the mortgage’ now and in the future is something many homeowners are rightly reflecting on. While low-interest rates help reduce your interest costs (for now), they won’t optimise the money you have available to you daily to shorten the life of your home loan. At NZHL, we believe the key to financial freedom is about focusing on what you can control, like your home loan structure and spending and timely reviews, to ensure your structure is still working for you if your plans change. In essence we work with our clients to make the most of their mortgage, not the other way around! Make a financial plan The key is coming up with a plan that is tailored to work for your personal circumstances – it’s all about setting up your surplus and defining your goals. Ultimately if your goal is to pay off your loan as quickly as possible, you may consider increasing your payment amounts – even $50 a week will help you get there quicker. However, if your goal is to add in an investment property or renovate your home, your advisor will need to consider the impact on your payment plan. David Hill Remember, your mortgage structure should be tailored to meet your personal needs and goals – at NZHL, we call this our smart home loan structure. While we tailor it to suit the individual, essentially, it’s all about using your income and savings to offset the interest you pay, which can reduce the life of your loan in the long term. Get the right advice Now’s a very good time to consider your financial future and how NZHL can help you make the most of your mortgage. We’re 100% NZ owned, 100% passionately kiwi and are all about helping Kiwi’s achieve financial freedom, faster with personalised service. If you are looking at switching providers, there are things to consider, like the lifecycle of your loan, break fees, and other clawbacks for benefits provided, but that’s where NZHL’s personalised service comes in – we will work this through with you. Are you making the most of your mortgage? Come in for a chat see what’s possible for you!
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October 2021 - Bay of Plenty Business News

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