Whangarei Accountants - Elevate CA - Tax, Xero, Business Development, Accounting

Whangarei Accountants serving Northland, Auckland and Whangarei Loving what we do: bringing fresh energy and innovative thinking to your business! Phone 09 430 0910.

  • Home
  • Budget 2020
  • Business Post COVID-19
  • Events
  • Contact
  • CloudCA

Monitoring Business Performance

Last night’s Business Owners Forum was a success – thank you to all who came along to the new BNZ Partners Centre in Whangarei and contributed to the discussions.  The topic was “monitoring your business performance”, and the three panelists did a great job of presenting different views of the subject.

Roger Taylor, an owner of Pacific Motor Group in Whangarei, discussed the strategies to monitor daily performance used by a large player in a volatile industry.  Issues such as large inventory holdings, high fixed costs, slim margins and long lead times on inventory purchases mean that excellence in day to day performance measurement is a real competitive advantage in this industry.  Roger shared with us some of the ways that Pacific Ford succeeds in this area – in particular his model for measuring “working days to break-even” each month – and the art and science he and his team apply when striving to improve this number.

Dean Subritzky, a director of Elevate CA Limited, illustrated that the key performance indicators for every business will be different – and where businesses in one industry may find it necessary to focus on issues such as stock turnover, others may be more interested in gross profit on each job – or debtors levels, or gross sales or perhaps retention of key skilled staff.  Dean discussed the need to first identify which key performance indicators are critical for your business – and then to set about devising systems to measure those in real time, and to continue to review, improve and simplify the method of gathering and measuring this key information.  One size definitely does not fit all when monitoring business performance.

Geoff Grigg, business partner at BNZ Whangarei, gave the group some valuable insights into how the banks measure the performance of their business customers.  He explained which measures the bank finds most important, how they use the information they gather for making risk and pricing decisions – and how the banks benchmark their business customers’ performances against industry norms.  As always, Geoff’s frank discussions around the decision making processes within the bank were useful to any business owner interested in reducing their risk profile with their bank – and in the process improving the pricing of their financing.

A great session – as usual in a casual format over pizza, beer and wine – and with a good varied selection of local business owners in attendance.

Business Owners Forums are targeted to owners of businesses turning over at least $1m per annum – they are hosted monthly alternating between Auckland and Whangarei on the third Thursday of the month.

If you would like an invite – or to be included on the regular email list, just contact Fraser Hurrell.    And if you have ideas for future BOF topics, we’d really like to hear them  – just click here and use the comments box at the bottom of the post >>>.

Fraser Hurrell is one of three directors of Elevate CA Limited, Chartered Accountants & Business Advisors in Whangarei, New Zealand.

Monitoring your Business Performance

How do you keep your finger on the pulse monitoring the financial health of your business in real time rather than waiting for historic financial statements?

If you need to know the answer to this question, this Whangarei event is for you!  The 18 February Business Owners Forum event will be an information-rich panel discussion delivering some practical techniques for monitoring your business’ financial health in real time.

This event will be hosted at the newly opened BNZ Function Centre on the corner of  Bank Street and Rust Ave, Whangarei on 18 February 2010 from 5:30pm (sharp) to 7:00pm.

This is a Business Owners Forum event, so as usual discussion will be driven by those who attend on the night – and the panelists will keep things moving along quickly.  Panelists will include:

Dean Subritzky – a director of Elevate CA Limited

Geoff Grigg – Partner at BNZ Whangarei

Roger Taylor – owner of Pacific Motor Group, Whangarei – who will give some practical tips on these issues from the coal-face.

The panel will be chaired by Michael Masterson, director of The Bottom Line Expense Reduction Limited.

Format is casual over pizza, beer and wine.  Business Owners Forums are always lively events – and are targeted to owners of businesses with $1 million turnover and more.  There is never a “sell” – these events are hosted as a forum for business owners to discuss issues of relevance with peers – and without having to fend off advances from people in the room seeking to push agendas, products or services.

Business Owners Forums are supported by ElevateCA Limited, BNZ, The Bottom Line Expense Reduction and Webb Ross Lawyers.  The ethos of the Business Owners’ Forum supporters is to give back to the business communities which support us.  In line with this ethos, Business Owners’ Forum events are always free of charge.

If you would like to be invited to this event, please contact ElevateCA.

business-owners-forum-logo3

Fraser Hurrell is one of three directors of Elevate CA Limited, Chartered Accountants & Business Advisors in Whangarei, New Zealand.

Avatars by Sterling Adventures

Copyright © 2021 · Elevate CA Limited. Chartered Accountants and Business Specialists · Login