Being a small or medium sized business owner today is a tough job, having to develop and deliver a strategy, operational management, oh and win customers.
The reality is you have to be across everything from HMRC/Tax, employment law, Health & Safety at work, regulation related to your product/service, to the full commercial aspects of running a successful enterprise. Sales revenues are of course crucial, but remembering to ensure your Terms & Conditions are up to date and those that are, are agreed in any transaction is imperative. Office space, rent/rates, heat and light, communications, cleaning and even stationery are all elements that keep things running. Then there is the essential elements – the Business Plan, the operating plan budgets and bank accounts to manage, suppliers, providers and of course customers – new/old and fighting off the competition.
So entrepreneurs, Business Owners, Family Businesses – hats off to you! Who would take this all on?
Well – thank goodness we have such strong characters who believe in their idea, product/service to undertake this gigantic effort – its makes UK Plc tick and accounts for the vast majority of employment in our country.
So – you’re up and running and managing all this stuff’ ..and so some key questions start to surface as you run your business;
- Are you too busy? – There is so much to do just running the business on a day to day basis! Just look at the list! Not enough hours in the day, head down – working hard!
- The business is doing really well! We really need to ‘step it up’ to the next level – but we just don’t have the time to draw up the detailed plan. Where will the funds come from? What about the risks? Need time to develop the forecasts and make the case for further investment and the next level of growth/sustainability.
- Competition has changed, the market is evolving and whilst we are currently OK – the pressure is there and we need to drive change! We need to evolve – but how?
Time is often the enemy, sometimes it’s just stubbornness, sometimes it’s just that to grow or develop further you need to ‘let go’ a little – or a lot…. Who wants to admit that a more robust or developed strategy is needed – which requires help from outside?
So when we talk to businesses and we categorise them – All too often we hear this;
GROWTH – whilst positive, really drives pressure and sometimes poor decision making. Even at this phase, businesses can come a cropper. Is the ‘Thinking’ there?
THRIVING – But to secure that longer-term future for the business a real ‘step up’ is required to meet the challenges of sustained growth, maintaining quality and that all important difference to your competitors. Do you have that ‘Plan’ and focus on building a team capable of delivering your strategy and sustainability?
SURVIVING – You simply can’t work any harder, cut any more costs, and meet the increasing demands of suppliers/customers. Cash flow is critical as is maintaining price and revenues. ‘Doing’ can sometimes become the enemy of finding that path out of this spiral.
If all this sounds familiar?
Free Help is at hand – Luminate Ventures – ‘Think – Plan – Do’. Why not go for a Free 90-minute chat – No Obligation with a seasoned executive who can listen and help – completely confidential. If there is common ground – great, let’s work something out. If not – lets part as friends.
This article was first published on West Cheshire and North Wales Chamber of Commerce News you can see it HERE