Winter 2024 Business Roundup With Hutch

As winter digs in and the economy doing it tough, it can sometimes be difficult to stay positive. But fear not, there is always light at the end of the tunnel! So in this email I look at some inspirational Hawke’s Bay organisations along with some important business activities to undertake so you can stay on top of things and be all set for the uptick.

Key topics covered in this email newsletter installment include:

• Spotlight on Hawke’s Bay Business Success Strategies

• Toitū Te Reo, the world's first Māori language festival

• Uncertainty & Setting Your Own Business Direction

• Green Sustainability Practices

• Cashflow & Debt Collection

Navigating the Future:

Key Strategies for Business Success

In an ever-changing economic landscape, setting your own direction is crucial. As business owners, we need to stay ahead by focusing on key areas that will help our businesses thrive. Hawke’s Bay has some great business stories and it’s important we take a moment and look at the great things that are happening here (and the list is almost endless).

Toitū Te Reo, the world's first Māori language festival, in the heart of Heretaunga, Hastings CBD

Heretaunga Hastings will host a world-first Māori language and culture festival, Toitū Te Reo, on August 8 and 9 this year. Based on the Welsh Eisteddfod festival, Toitū Te Reo is an opportunity for both fluent te reo speakers and people just beginning their te reo journey to gather with other speakers and ‘karawhiua’ – have-a-go.

Setting Your Own Direction In An Uncertain Economy

Uncertainty can be daunting, but it also brings opportunities. Take control by keeping to the basics:

• Define Clear Goals: Establish where you want your business to go. Clear goals provide a roadmap and help maintain focus during turbulent times.

• Stay Informed: Keep an eye on market trends and economic indicators. Being informed helps you make proactive adjustments to your strategy.

Start thinking about things that you may not previously thought about – what can you do that is different in the market, move away from your competitors and set your own market position.

Thinking About Green Sustainability Practices

Sustainability isn't just a trend; it's a necessity and the right thing to do. Integrating green practices can benefit your business by:

• Reducing Costs: Implementing energy-efficient measures and reducing waste can save money in the long run.

• Enhancing Reputation: Consumers prefer businesses that care about the environment. Sustainable practices can improve your brand image and attract more customers.

• Tender & Job Attributes: I am starting to see this now, where you need to show what sustainability practices you have in place when you are tendering or pitching for work. Don’t miss out on work because you’re stuck in the past.

While adopting sustainable practices, be mindful of the regulations that may impact your business.

Making Sure You Watch Cashflow

Cash flow is the lifeblood of your business. Managing it effectively ensures stability and growth. Key steps include:

• Regular Monitoring: Have strong financial reporting processes. Regular monitoring helps you identify and address issues promptly and make sure that you chase up on any overdue debtors.

• Planning Ahead: Forecast your cash flow to prepare for future needs and avoid unexpected shortfalls.

Finally, it's important to think long-term about your business's future leadership.

About PlanA Consulting

PlanA Consulting works with business owners to help their companies become more effective and profitable. Read More About PlanA Consulting