January is ‘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.
Does the same apply to your business? It can be as easy to make resolutions for your business as it is for your lifestyle but do you know what really needs attention? What are the priorities and what requires action right now? Importantly, how do you ensure your business resolutions last the full year – and beyond?
Whatever your business aims, there are certain questions you shouldn’t have to ask yourself if the business is in ‘good shape’. But if the following are playing on your mind you will need to focus on improvements to relieve the symptoms and address the underlying causes.
1. Why am I dealing with this issue – not someone else – and who would look after the business if I were away for an extended period? These are indicators that you haven’t yet got the team and processes in place to enable the business to be less dependent on you as the owner.
2. Why does so much of my recruitment not work out? As a small business the challenge of finding, recruiting, keeping and developing a high-performance team comes to the fore. Every new recruit is important, but when you are a small business each new member of the team has a major impact.
3. Will there be enough money in the bank to cover this month’s payroll and suppliers’ invoices and how has the use of our overdraught become a permanent feature? Cash flow management is one of the most crucial aspects of business management and yet it can so easily slip when chasing new business, hiring staff or through poor controls.
4. Why am I struggling to find people to buy my products or services? You are in business to provide something that adds value to someone else’s life or business. If what you are providing isn’t doing that or you are unable to articulate the value you offer, you will struggle to make the business work. The answer may require a fundamental review of your proposition or fine tuning of your sales and marketing. Either way if you aren’t selling you don’t have a business.
5. What am I doing this for? This fundamental concern may be the result of one or all of the above questions. If you get to the point where you are uncertain of the very reason for being in business, it is time to seek some support. That may lead you to ask, ‘Who can I turn to when I want to talk something through?’ There is plenty of support around you if can summon the desire to ask. You will have existing advisers, family and friends, all of whom may have relevant capability to help. If not, there are independent advisers who can help you navigate through an existential crisis.
All of these questions have answers, many of which you may already know. The challenge is finding the time, opportunity and discipline to implement the changes that make the questions go away. And that’s what we do. Yes, we help you with the answers but more importantly we help you get to a position where you don’t have to ask the questions again.
Get your business fit and healthy as your resolution for 2022 and with our help keep it that way. To explore this further, contact us today.