When something is your creation it is a big step to let others in to take responsibility, drive the delivery of actions and benefit from the rewards. Yet allowing others to share aspects of your business is essential for achieving growth and reaching your goals.
We had set the date for our annual barbecue some two months earlier but as the week approached, the weather forecast started to deteriorate. Heavy rain and 40 mile-an-hour winds were predicted but we had invited close to 50 guests! As the day approached the weather system wasn’t forecast to budge. The day before the barbecue we made the call to cancel (maybe we could have hired a marquee but that’s another story).
Advice should never be an end in itself. As a business owner you face multiple decisions every day – some routine, some forced upon you and some because you want to change or improve an aspect of your business. Sometimes alone, sometimes with your team and sometimes with external advice you make many decisions to improve your business performance. And that, of course, is what you want: improved results.
How often have you received a letter from a company telling you they can help you to sell your business? Perhaps it offered you a place at a seminar or a ‘free consultation’ with an expert in valuing your company. Where did the letter go? Set aside because one day it may come in useful or filed under WPB – waste paper bin?
There are many reasons and circumstances for someone running and owning a business. Of the clients we work with the reasons for doing so vary from it being a long-held ambition, the result of redundancy, a bright idea, the challenge of ‘doing it better than the current boss’ and a multitude of other, often personal, reasons.
Committing to recruit a salesforce is a major step for any growing business. As the owner of a small and ambitious company the thought of finding the money for relatively expensive salespeople, who may or may not bring in the business, may be a barrier to action thus inhibiting growth. If you don’t come from a sales or business development background you may have additional concerns about how to recruit, manage and motivate someone in this role.
Inevitable as it is we spend little time talking about death and even less time planning for what we want to happen to our business after we are gone.
It’s that time of year. Articles, advice and adverts extol the virtues of new diets, fitness regimes and lifestyle changes. Whether it is meat-free eating, gym membership or ‘dry January’ there appears to be something targeted at everyone to help them get into better shape.
You head to the exit when the performance is over. There is a sense of finality, a transition from one state to another, perhaps a feeling that there is nothing more to see or do.
In principle, yes! But before you hop, skip and jump to the nearest travel agent and hot foot it to a remote Caribbean island, bear in mind the deal isn’t done until the contract is signed. So take a breather and consider what an approach to buy your business actually means – it may be the best thing that could happen or it could be a huge disappointment if it doesn’t materialise.