Winning businesses' secrets of success

Wednesday, March 11, 2009

Just how do you make a good business great? We've talked to some of New Zealand’s winning businesses to find out how they’re making it to the top.

Palliser Estate Winery
Sheer hard work and perseverance is behind the success of this award-winning Martinborough wine maker.

According to Palliser Estate Managing Director, Richard Riddiford, “you have to stick to your knitting if you want to succeed. Building brands and creating distribution networks doesn’t happen overnight. It takes time and dedication.”

Quality products
“Producing a quality product is also important, no matter what market you’re in. For us, the world is full of good wine, so we’ve had to produce wine that’s excellent.”

Good people
“You also need good people. Here, we have a small, committed team that’s been together for a long time.”

Richard adds that having a no debt policy has also helped. “Cash is king,” he says.

Palliser Estate Winery is the 2008 winner of the prestigious New Zealand Post Wellington Exporter of the Year Award.

Torpedo 7
Torpedo 7 founders, Guy Howard-Willis and his son Luke, put the phenomenal success of their online bikes and bike accessories business partly down to “great timing”.

“Internet shopping is still quite new in New Zealand but after researching the extent of online retailing overseas, we decided to offer bike products online – and it really took off,” Guy Howard-Willis explains.

“The demand for buying from e-stores is certainly here but you have to make sure you offer quality products at good prices. You also need excellent customer service – our customers are really impressed by speedy, next day deliveries, our easy returns process and being able to contact our customer help desk to place orders or ask questions.”

Manage growth
Torpedo 7 has been in the top 10 of the Deloitte/Unlimited Fast 50 for three consecutive years, with growth peaking at an outstanding 962% in 2006 (and reaching 570% in 2007). “Managing this level of growth in just four years has been an issue in itself, but fortunately we have a great managerial team and nearly 70 passionate staff to get us through,” says Guy Howard-Willis.

Maintain success
Keen to maintain its success, Torpedo 7 has recently increased its product range to include motorcross, snowboarding and adventure accessories. And, having listened to its customers, the company has also introduced a women’s range of products.