Business is tough right now! The economy has taken a hit, sales are down, and uncertainty looms over many businesses. Some of our clients are even questioning their survival. The common refrain is: “Hopefully, things will improve in the future.”
Hoping for improvement is not a plan. As the saying goes, “Don’t wish life were easier; wish you were better.” So, what steps are you taking to be better or to help your business improve? You’re either working in your business or on your business. If you’re working tirelessly with little return, chances are you’re working in your business, not on it.
At Outside, one of our core values is “Development – better than yesterday.” To embody this, we’ve implemented a business book club where the team reads and discusses business books, focusing on how to implement the lessons learned. Currently, we’re reading one of my all-time favourites, “The 7 Habits of Highly Effective People.” Habit 7 is about “sharpening the saw,” a crucial practice in tough times. If sales are down, what are you doing to improve your business? Here are seven ways to boost your profits:
)We have plenty of ideas on each of these points. If you want to dive deeper into any of them, you know where to find us.
If you or your team need extra motivation, consider adopting the OARBED mindset. This powerful leadership tool is useful for both business and personal life. In challenging times, business owners need to act fast, and you can choose to act above the line or below the line. Acting below the line means staying in BED—Blaming others, making Excuses, or being in Denial. Alternatively, acting above the line means grabbing your OAR—taking Ownership, Accountability, and Responsibility.
Acting below the line is a victim mentality, while acting above the line is a Victor mentality. By adopting a Victor mentality, we take control of our destiny and can start making positive changes now.
The choice is ours, and we are in control of our behaviour. Let’s make decisions that drive our businesses forward, even in tough times.
Your Outside Team
Address: Level 2, 182 Vivian Street,
Te Aro, Wellington 6011, New Zealand
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With 31 March fast approaching, now’s the perfect time to prepare for the end of the financial year. Acting early can save you time, reduce stress, and ensure your business is ready to thrive in 2025. If you’d like a checklist to guide you through the process, reach out — we’re here to help.
As your accountant, we’re not just here to manage your finances — we’re also here to support your strategic growth. One vital part of that growth is business development (BD). By driving your BD strategy forward, you can transform your company from steady, organic growth to fast-paced expansion and lasting success.
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