The New Zealand Business magazine review

BUSINESS WISE, a practical guide to success in business, by Fred Stewart.

RRP $34.95, published by Readingit Corporation Ltd.

Business is about taking a positive approach, seeing opportunities and acting on them, Fred Stewart reports in his book Business Wise. There are no such things as weaknesses in your business, these are opportunities for you to make happen.

Known as the company doctor, Stewart is the ideal person to advise those people contemplating setting up or already operating a business. Using the experience of 30 years as a corporate recovery expert and business builder, he writes a pertinent guide in five parts – going into business and operating your business, legal topics, building your business and an appendix of essential business document templates. There is also a glossary of business terms included.

Subject headings let the reader ‘dip in and out’ to find solutions to specific issues, problems and questions.

It is a known fact that 75 percent of all new business ventures fail within the first year and 95 percent within three years, Stewart says, and according to the accounting profession, this is because of insufficient capital, lack of leadership and inexperienced management.

How can we reverse this trend?

Part one of the book looks at getting started, understanding the risk, types of business entities, buying a franchise and joint ventures. It includes due diligence, getting the right advice and funding options if you are unsuccessful with your bank.

Stewart concludes, if you are convinced that after all of your research and gut feeling, that getting into the business is a good move, trust what your instincts say and go for it!

Part two moves on to business development, marketing plans, budgets, and the importance of branding. It delves into mission statements, organisation, IT systems, sales and marketing, customer service, pricing, client behavior styles and staffing issues, plus business security, credit control, and knowing the breakeven point in your business.

Part three heads into statutory requirements, including occupational safety and health, copyright, patents and trademarks. Besides pointers on developing your own franchise and maximising the efficiencies in your business, part four deals with websites, exporting, business mentors and beating procrastination.

This is a comprehensive book worth a thorough read when setting up a business and then keep it handy for reference.
As Stewart says, “business is about ‘continuous improvement’, if we think we have reached it, we are only fooling ourselves”.

Usefulness rating: 9/10

Linda Donald is an Auckland-based freelance
writer and reviewer.
Email ldonald@abdonaldltd.co.nz

nzbusiness.co.nz NZB july 08