For some businesses lockdown was an abrupt suspension of activity, some literally ‘shut up shop’ overnight. Others had to adapt operations to continue some level of business with alternative working arrangements. And for the rest, opportunities and sales volumes have grown to unprecedented levels.
When I start working with business owners, one of the first things I ask is, ‘What is the purpose of your business?’ In other words, why does the business exist? Surprisingly, this simple question often causes some debate.
No business has been untouched by the current coronavirus outbreak and subsequent ‘lockdown’. Whether you have seen a boom in trade as a delivery firm, a dramatic fall in revenue as a service company, or had to remodel your business to enable safe working for your teams, you will have been affected.
Imagine being above a ravine clinging to a rope – white knuckles and fear of your grip slipping would be understandable. As a business owner concerns about letting go may be inhibiting your company and your health. And if your team is now remote working you may want to cling on more tightly.
One of the many interesting aspects of working with business owners is their view on timescales. They can be impatient when things don’t happen quickly enough, yet display a lack of urgency when action is required.
When skills or experience overlap with another person, some people believe you must be in competition. This is a sign of a closed, glass half-empty mindset. But what about the benefits a combined approach, or collaboration, can deliver to a client? This is a glass half-full, growth mindset.
When we are asked who we work with and how our expertise is best deployed, a concise answer doesn’t always do justice to the range of work we undertake.
Bonuses represent a common dilemma for business owners, particularly at this time of year, and it’s a subject that’s fraught with pitfalls and complexities. If you’re grappling with the thorny issue of bonuses, here’s what you need to consider.
As a business owner, this is the perfect time to think about what you achieved last year – and plan what you want to achieve in the coming months.
According to a survey by accounting software provider Xero, three quarters of business owners admit to working during their holiday. And a shocking 17% take no time off at all.