What stage are you at?

Whatever stage you are at with your business – whether you have the beginnings of a great business idea, or, you have written a strategic plan and you have a road map, ready to go, or, you are fully established with a great product or service, and a team and infrastructure around you, or, you are starting to think about an exit strategy, it’s always great to have a sounding board, experienced mentors to talk to, access to funding, and excellent business advice along the way.  Whatever stage you are at with your business, at the Wellington Pasifika Business Network, we are here to serve you, and provide you with access to as much advice as you need to make your business a success!   

Pre-Start Up Phase - You have a great idea!

You have a great business idea!  You haven’t committed any finance to your business idea.  You are starting to think about your business offering, what it might cost to go into business, and what the benefits of business will be for you, and your family.  You need to think about resources, systems, infrastructure, and planning.   

 Before you move forward with your business idea, you need to learn about setting up and running a business.  Knowledge is power, and there are options available to you!

Knowledge os Poweer – Education is Key!

Te Wānanga o Aotearoa - Smart Steps for Business is a 20-week course that will help you to identify, evaluate and plan for the launch of your business. You’ll learn everything you need to build on your business idea and determine whether your business idea could work well in our market.  

 

Te Wānanga o Aotearoa also run other free courses that will give you the opportunity to learn everything you need to establish and run your business: 

  • Administration. 
  • Technology. 
  • Financial capability. 
  • Project management. 

 

We can also put you in touch with providers that run free business accelerator courses, where you can start an inspirational business journey and develop your knowledge and skills while you are in the early stages of developing your business. 

 

LEARN MORE

Start-Up Phase

You decide you are going to commit to starting up your business.  You have committed some financial resources to get the ball rolling.   

You Have Our Support! 
The Wellington Pasifika Business Network can support you in those early stages of a business where gaining access to information and resources is crucial to set up your business structure, systems, and processes to hit the ground running.  

In the start-up phase, you will be: 

  • An initiator, moving things forward. 
  • An innovator bringing a product or service to the market that you know will fly. 
  • As an organiser, ensure you line up all the ducks in a row. 

Before you move forward with your business idea, you need to learn about setting up and running a business.  Knowledge is power, and there are options available to you!

Business.govt.nz  

This website provides a great source of information, planning tools and useful templates that you can use to plan your business journey.  You will learn all about: 

  • Getting started in business.  
  • How to take the first steps. 
  • How to choose the right business structure. 
  • Building a brand. 
  • Funding your business. 

 

Depending on the type of business you want to bring to the market, you will need to think about the overall contractual arrangements for the following: 

  • Legal structure – sole trader, partnership, company. 
  • Product or service offering. 
  • Strategic business planning 
  • Management/Operations/Staff 
  • Customers. 
  • Suppliers. 
  • Finance/funding. 
  • Logo/trademark. 
  • Marketing 
  • Insurance 
  • Legal compliance (the laws impacting on your business will differ depending on the nature of your business). 

 

Inland Revenue 

The IRD has created an excellent series of videos to help new business owners.  

Introduction to Business (ird.govt.nz) 

You will learn all about different business structures so that you can determine which business structure is right for your business, what items are classed as expenses, how to register your business for GST and how to store and keep your business records properly. 

Building Phase - First Stage Growth Strategy​

You are currently in the first five years of building up your business.  You are working hard to put in place all of the necessary structures to meet and exceed your sales targets.  You continue to build on the foundations that are in place to solidify your business processes, finesse your products and services, make the most of your competitive advantage, and grow your team. 

Access to Service Providers and Advice 

The Wellington Pasifika Business Network can direct you to advisers to give you the advice and tools you need to grow a successful business: 

 

Operations Management 

  • Systems, processes, including IT, and project management to ensure the smooth running of your business operation. 
  • Sales volumes and future targets review. 
  • Business development and strategies to increase sales targets for your products or services. 
  • Customer focus/customer satisfaction review. 


People Management
 

  • Employment law, employment contracts, policies, health and safety and recruitment process. 
  • Review of staffing structures and delegation of responsibilities (management, sales, operations). 
  • Managing teams, workplace culture, and building resilience. 


Marketing Management
 

  • Attraction and retention of customers to your business. 
  • Increasing your digital marketing and social media visibility. 


Financial Management
 

  • Finance, cashflow forecasting, revenue, expenses, budgets and financial reporting and monitoring. 

 

Growth Phase - Well-Established Business -
Second Stage Development/Growth Strategy​

You have been in business for a few years.  You have achieved consistent financial performance.  Your business earns average or above average profits.  The consistent growth that you have achieved in your business puts you on a good footing with your bank, and, potentially, other funding partners.  You are now in a position to consider the expansion of your business. 

The Wellington Pasifika Business Network can either put you in touch with the right service provider, or directly assist you with providing advice around your growth expansion plans: 

  • HR organisational development review – ensuring you have the right management and employment structure in place to take your business forward. 
  • Development of leadership team competencies. 
  • Assistance with grant funding applications. 
  • Review of funding applications via banking and other financial institutions, venture capital, and angel investors. 
  • Review financial performance and profitability of the business, and cost efficiencies. 
  • Review of operational systems, including production, finance, marketing, and administration. 
  • Expansion of products and services into other markets, including overseas markets.

Exit Phase - Exit Stategy​

You have worked incredibly hard for many years to establish and grow your business. You are now ready to pass the baton on to a new business owner. 

At the Wellington Pasifika Business Network, we can assist you in planning well in advance to put in place an exit strategy so that you can exit your business in the best way that will work for you, for your staff, and the new business owner.