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"Lifestyle and business expansion are not mutually exclusive by any means" says Phillip Roth, Advisory Partner at BDO New Zealand.
According to a Westpac survey carried out in 2015, one of the key things that stops businesses expanding is "the lifestyle mentality" behind many SMES. In other words people want some work/life balance. But it's not a good reason to put the brakes on growing your business.
“if you have a good team and the ability to delegate, growing your business doesn't mean you'll be burning the midnight oil every night. Instead”, Roth says, “it's important for business owners to approach growth with a strategic approach and plenty of planning. “
It's exactly these sort of issues that will be tackled in the Accelerator Business Growth Series, a business workshop designed for those business owners that are considering taking steps to grow. Roth, along with two other BDO experts will be presenting the course to be held at the ENC Business Centre in Kaiapoi.
With many years experience in advising businesses that want to grow, Roth is looking forward to sharing his knowledge and expertise with course participants.
"Probably one of the biggest challenges is appreciating what expansion really is, what does it look like? In other words, why are we expanding" says Roth.
Once that question has been answered, business owners need to make sure they have the necessary team in place and that they want to engage with this process too. They also need to consider how they are going to finance their growth. And, ultimately, whilst planning is imperative so is actually doing things. Plans need to be focused on accountability and actions and it should be very clear who is responsible for doing what says Roth.
The Accelerator Business Growth Series will cover all these aspect of business growth and more.
Click here to find out more about the Accelerator Business Growth Series and register online.