The Latest News from PlanA

Managing enterprise risks is something every business owner must face, but quite often it’s something they ignore.   It might be dealing with supply chain disruptions or ensuring compliance with ever-changing regulations. For Sophie Sweet, the owner of a successful confectionery business, the key to building a risk-proof organisation was not about avoiding risk altogether but managing it effectively.   She had to take her lollipop making hat off & put her Director’s hat on.

As a business owner, the thought of liquidation can be overwhelming. We don’t go into business to go into liquidation, but it can & does happen.  However, it's important to know that many businesses face similar challenges, and with the right approach, you can navigate these turbulent times effectively.

Sophie Sweet had always been determined, but when her lollipop business reached $1.5 million in sales, she knew it was time for a change. A small but mighty company, Sophie had big dreams – she wanted to scale and go beyond that $10 million mark. But how? What did it take to transform her success into something sustainable and larger than life?

Stories have a unique power to connect with us, teach us, and inspire action. In business, storytelling can often convey lessons in a way that facts and figures alone cannot. That’s why I’m excited to take a different approach to the information I share this year. I’m going to have a storytelling approach in a series of blogs, following the journey of Sophie Sweet and her lollipop business, Sweet Spot Confectionery.

Business should be pretty easy, but we do tend to over complicate things at times! I was chatting to someone the other day who seems to have found the ‘sweet spot’ when it comes to their business. They have a great team, sell something that customers want and have sufficient cash to make the wheels turn around (plus they are highly profitable).

Leadership is not just about holding a title or managing a team, it's about inspiring, guiding, and fostering growth within your business. I came across this image on Linked In and it struck a note with me. For some, it may be a bit challenging!

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 latest installment of the PlanA Email Newsletter 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.

Over the last month or so I’ve had a few people chat to me about having difficult conversations within their team & haven’t really known the best way to go about them. It’s almost that we are conflict adverse these days. I think part of this is that difficult conversations often bring feelings of fear and anxiety because they involve confrontation and conflict which we don’t like.

Dealing with overdue accounts receivable can be a common challenge for businesses of all sizes and something that often gets put off. So here are some practical strategies to manage overdue account receivables efficiently and also a resource that may help you.

In the cut and thrust of business, it's easy to get swept up in the day-to-day side of things. While that might be the case, it's crucial for business owners to pause and consider the long-term direction of their business.