The success of your business is highly dependent on your team. And that’s particularly true in creative and technical businesses, where ideas and knowledge, as well as application and focus, are essential.
You’ve decided to enlist the expertise of a business adviser to drive success in your business. Maybe you’re looking for business advice to help you grow the company. Perhaps you want to be a better leader, or build a management team to take on more of the day-to-day responsibility.
Growing your business can sometimes feel like another item on an already groaning to-do list. But are you really too busy to grow your business? Or is it a sign that you need to spend less time on certain tasks?
As the saying goes, you can’t do everything. That’s why delegation is one of the key skills that any business owner must master – however grudgingly – if they are to successfully transfer their business to someone else.
If you’re a business owner, you’re a leader – whether you want to be or not. For some business owners, building and leading a team, getting the most out of people, and nurturing talent are some of the most rewarding aspects of the job. It’s what gets them out of bed with a spring in their step.
As a business adviser, I work with owners of all sorts of businesses – creative and otherwise. One thing that a surprising number of business owners have in common is that they just don’t plan their business.
Over the Christmas and New Year period we are inundated with hints, suggestions and cajoling about this being ‘a great time to reflect on the year just gone and plan ahead’. But, in practice, how many of us do an effective ‘review and plan’ and, most importantly, make any changes as a result?
If you haven’t yet thought about what you want to achieve in 2019, now is the perfect time to create a plan. A business plan, or strategic plan, not only sets out practical goals, it serves as a useful big-picture reminder of where your business is going and what you’re trying to achieve. It creates common goals that everyone in the company can get behind, which spurs people into action. And it gives you something to revisit throughout the year, to see whether you’re progressing as you intended.
The word ‘mentor’ goes all the way back to Greek mythology (it was the name of young Telemachus’s adviser in Homer’s Odyssey). And just as Shakespeare gave us many words that have percolated their way into everyday speech – including, interestingly, the word ‘manager’ – Homer’s Mentor became an everyday description for a trusted, experienced adviser.
A recent study found that small businesses are missing out on valuable guidance from non-executive directors and business advisers. Lack of understanding on how to find and engage with advisers means business owners are not benefitting from the experienced perspective that external advisers bring.