How to start a business solutions company in NZ
Thinking about how to start a business solutions company in NZ? Whether you're planning to offer consulting, accounting, or other services, even with no money or experience, this guide walks you through each step.
Helping other businesses is one of the most rewarding paths an entrepreneur can take. However, there is also a lot involved in starting and running this type of business.
So, let’s keep things as simple as we can. We’ve set out our favourite tips for how you can get going as a business solutions provider in New Zealand.
How Robert started a business solutions company with no money
Allow us to introduce you to Robert Linford, a qualified and experienced accountant from Auckland, accustomed to preparing various organisations’ accounts and tax returns. He has spent the last eight years in an influential role for one of the North Island’s leading business services providers.
Now, however, Robert is looking to expand his skill base and start his own business in this field. Robert’s new company will focus on accounting, bookkeeping, and consulting. These areas of service provision are closely matched to his current expertise.
Importantly, they provide a foundation from which he hopes to expand the business solutions he offers as his new company grows.
What is a business solutions company?
What are ‘business solutions’, anyway? A good way of defining business solutions is as skilled services, labour, or expertise for businesses (as opposed to the physical products that product-based firms may offer to business customers).
The broad term “business solutions”, then, could encompass all manner of services and forms of assistance that NZ company owners often seek out. Potential examples include:
- Company formation services
- Marketing services
- Consulting services
- Human resources solutions
- Accounting and bookkeeping services
- Software services
Follow these steps to start your business solutions company
How can you identify market needs before launching a business solutions business?
When you start your own business solutions firm, you need to be confident that a genuine market need exists. Follow our tips to help ensure this:
1. Research your market
If you’ve read this far, you’ll know the customers of business solutions firms are typically other businesses. In other words, they’re business-to-business or “B2B” firms, not business-to-customer, or “B2C”.
But it isn’t enough to know that your business solutions business will be serving other businesses.
You will also need to figure out:
- What kinds of businesses will purchase your business solutions
- Why will they buy from you
- Where your business’s future clients are likely to be
- How many businesses out there will be potential clients for your business
You might already know the answers to some of these questions because of direct experience with potential customers from working for an existing business solutions provider. You might also look at relevant statistics from trusted sources like Stats NZ.
Pro tip
A B2B firm is a business that sells products or services to other businesses, rather than directly to individual customers. If, on the other hand, a company sells goods or services to individual consumers, with no “middlemen” involved, it can be regarded as B2C.
2. Get to know your competitors
Robert already has some awareness of the situation for business solutions on the North Island. He has spent years working for one of the region’s biggest business service providers and has some informally gathered knowledge of industry rivals.
Still, even if you already know a lot about your new obvious competitors, you’ll need a different level of insight when launching such a company for yourself.
So, it will be essential to swot up on such aspects as:
- Who your new company’s industry rivals will be
- How those rivals are doing in terms of sales and revenue (the total amount of money they’re generating in a given timeframe)
- Where they are geographically located
Through your research, for example, you might discover that there aren’t many businesses offering company formation services in your part of NZ. So, you may decide to offer this service to local entrepreneurs.
3. Build strong business relationships
Building strong client relationships is essential to the long-term success of any business solutions company.
Robert understands this well, especially given that only a limited number of firms around Auckland and Waikato may need his initial, specialised services.
So, he needs to be very good at looking after the clients he attracts. This will help him gain repeat customers. Plus, even if a given client doesn’t maintain a longer-term relationship with his firm, they will likely endorse his company’s services in discussions with others.
Robert soon gets to work on cultivating the following practices and instilling the importance of them in the people he employs for his new business:
4. Communicating proactively and regularly with clients
The most effective business solutions providers don’t merely wait for their clients to express concern about something. Instead, they talk to that client about their needs, reassure them and build trust.
Furthermore, they are honest and transparent. Challenges do arise. So, by communicating in an upfront and clear way at difficult times, you can send the message to your clients that your company doesn’t hesitate to tackle problems head-on.
5. Taking the time to understand clients’ business goals
It can help show your value to the client if you demonstrate that your firm is more than a mere “service provider”.
Robert acknowledges this in how he builds and presents his own young business.
He doesn’t position his company as merely concerned with technical aspects. Instead, he invests time in getting to know his clients’ long-term goals and business strategies, which enables him to tailor the solutions he provides.
Pro tip
Business “goals” define what a given business seeks to achieve. Business “strategies”, on the other hand, set out how those goals will be achieved.
6. Providing consistent value for clients over time
A business solutions provider shouldn’t be regarded as a mere “firefighter” of immediate-term problems. The company will stand a better chance of keeping hold of clients in the long run if it isn’t seen in such a limited way.
So, you should strive to deliver continuous value for your clients by:
- Checking in with them regularly
- Advising them on the latest tech solutions that are potentially relevant to their company
- Assisting them with the ongoing improvement of their operations.
A business solutions provider that shows commitment, diligence, and attention to detail is one clients stick with. Demonstrating this ongoing value will help your business grow sustainably.
Can you start a business solutions company with no experience?
Yes, many business solutions companies are started by people who leverage soft skills or industry knowledge, even without formal business ownership experience. Start by offering services in areas you're already familiar with. You can gradually expand your offerings as you learn and grow. Freelancing, subcontracting, or part-time consulting are all great low-risk ways to start.
Quick steps to start a business solutions company in NZ
- Decide which services to offer (consulting, accounting, HR, etc.)
- Register your website domains and business name
- Choose a business structure (sole trader or company)
- Set up a simple business plan
- Research your competitors and define your niche
- Build early relationships and start offering value
- Promote through networking, referrals, and online channels
Phew! Hopefully, our guidance will have helped give you a sense of direction for the business solutions business you intend to establish, even if there is still a lot of preparation ahead of you.
The provision of business solutions can be a more-than-worthwhile path to take for enterprising Kiwis. There are arguably few things as fulfilling as helping to steer the success of organisations. But of course, you will also need to be skilled in doing so for your own business.
Are you ready to jump into that longed-for business adventure? If so, make sure JumpStarter is by your side. Subscribe to our newsletter and get expert tips, insights, and new articles delivered to your inbox monthly. Stay informed and set your SME up for success.
