• About Us
  • Advertise with Us
  • Contact Us
  • Events
  • Newsletter
  • Podcasts
  • Digital Magazine
  • Home
  • News
  • Opinion
  • Entrepreneurship
  • Self Development
  • Growth
  • Finance
  • Marketing
  • Technology
  • Sustainability
  • About Us
  • Advertise with Us
  • Contact Us
  • Events
  • Newsletter
  • Podcasts
  • Digital Magazine
NZBusiness Magazine

Type and hit Enter to search

Linkedin Facebook Instagram Youtube
  • Home
  • News
  • Opinion
  • Entrepreneurship
  • Self Development
  • Growth
  • Finance
  • Marketing
  • Technology
  • Sustainability
NZBusiness Magazine
  • News
  • Opinion
  • Entrepreneurship
  • Self Development
  • Growth
  • Finance
  • Marketing
  • Technology
  • Sustainability
Books

How not to Commit Business Suicide

Coming in at under 180 pages, Gavin Waring’s guide covering business structure, debt, tax and other issues SMEs (small and medium sized enterprises) struggle with, is not a big read, […]

NZBusiness Editorial Team
NZBusiness Editorial Team
February 19, 2012 3 Mins Read
415

Coming in at under 180 pages, Gavin Waring’s guide covering business structure, debt, tax and other issues SMEs (small and medium sized enterprises) struggle with, is not a big read, but promises real-life answers.  
“For a business to succeed, they first have to survive,” Waring says.  
The author’s insight is heart felt. 
Having lost his own family home when his business failed, Waring now successfully helps small business owners recover from often serious financial difficulty.  
As the CEO of Australia-based consultancy Your Business Angels, Waring stresses the importance of getting even the small, basic things right, saying; “These things can be the make or break of a business”.  
Waring emphasizes the importance of getting the right advice by ensuring the solicitor you go to understands your business (you might need more than one for different issues) and having a   good accountant and book-keeper.  
With much of the work from his consultancy business coming as a direct result of useless accounting, Waring explains the necessity of being supplied with ‘fresh numbers’ and fresh information all the time.  
Presented in five parts, the book deals with setting up and running your business and what to do when things go wrong.  
Even if they go seriously wrong, however, Waring affirms “you will get through this and you will live on and be able to do great things again”.
Pointing out the quantum leap between having a good business idea and being able to implement it profitably in the market place, Waring says, “if you are reading this book because you are contemplating going into business, my advice is don’t – unless you have a hide like a rhino!”
Warning aside, explanations cover why you should only ever trade as a company; why you shouldn’t borrow money from a bank or (without making it a commercial transaction) from a family member – plus other options for borrowing and why you should pay yourself a wage.  
As you would expect, there are practical suggestions about what to do before you take your products and services to the market place, like who your ideal customer would be. 
Waring explains the crystallisation calculation – where the business is assessed at any given time on its actual assets as to what it actually owes, and how to work this out. The risks attached to relying solely on your profit and loss figures to measure the performance of the company is compared to the necessity for a cashflow analysis, described as the lifeblood of your business.
Another directive is to always have your business ready for sale – by keeping it looking its best, in a strong trading position with a strong balance sheet and making it easy to operate. 
The final chapters look at taxation, negotiating with creditors, liquidation, insolvency and bankruptcy as these apply in Australia – although most translate into similar experiences in New Zealand. 
Easy to read and full of common sense, supported by 25 years of business experience and personal heartache, How Not to Commit Business Suicide finishes with a small bibliography and glossary of abbreviations.

Usefulness: 8/10
ISBN: 978-06465-33643
Linda Donald is an Auckland-based freelance writer and book reviewer. 

Email [email protected] 
or visit www.imagesandwords.co.nz
 

 

Share Article

NZBusiness Editorial Team
Follow Me Written By

NZBusiness Editorial Team

NZBusiness is a team effort, with article submissions curated by a small team of professionals under the guidance of Editor David Nothling-Demmer.

Other Articles

Bullet-Proof-You-Bus_0
Previous

Bullet-Proof Your Business Now

NZBusiness-Cover-February-2012
Next

NZBusiness February 2012

Next
NZBusiness-Cover-February-2012
February 19, 2012

NZBusiness February 2012

Previous
February 19, 2012

Bullet-Proof Your Business Now

Bullet-Proof-You-Bus_0

Subscribe to our newsletter

NZBusiness Digital Issue – March 2025

READ MORE

The Latest

Budget 2025: SMEs seek tax cuts, less red tape as confidence wavers

May 21, 2025

The big AI learning curve: Here’s where business owners can start

May 20, 2025

From redundancy to resilience

May 16, 2025

Episode 16: Bryce Marsden on sustainable impact through education, youth and environment

May 15, 2025

The high cost of leadership neglect

May 14, 2025

Why making Auckland a Tech Hub makes sense

May 14, 2025

Most Popular

NZBusiness Digital Issue – June 2024
Understanding AI
Navigating economic headwinds: Insights for SME owners
How much AI data is generated every 60 seconds? New report reveals global AI use
Nourishing success: Sam Bridgewater on his entrepreneurship journey with The Pure Food Co

Related Posts

Better: Authentic thought leadership without the ick

July 10, 2024
Nathan 4

How to run a business without borders

June 12, 2023
WooWoo for Women

Beating the business misfit blues

April 4, 2022
John Angell (lo res)

How to succeed at being your own boss

November 26, 2020
NZBusiness Magazine

New Zealand’s leading source for business news, training guides and opinion from small businesses to multi-national corporations.

© Pure 360 Limited.
All Rights Reserved.

Quick Links

  • Advertise with us
  • Magazine issues
  • About us
  • Contact us
  • Privacy policy
  • Sitemap

Categories

  • News
  • Entrepreneurship
  • Growth
  • Finance
  • Education & Development
  • Marketing
  • Technology
  • Sustainability

Follow Us

LinkedIn
Facebook
Instagram
YouTube
  • Home
  • News
  • Opinion
  • Entrepreneurship
  • Self Development
  • Growth
  • Finance
  • Marketing
  • Technology
  • Sustainability