Does this sound familiar? No time and disappointing profitability. Being paid slowly. Doing the sort of work you don’t enjoy a lot of the time. Just not enjoying the work…….
Always in the office and can’t afford the time or the money to do the things you want? Stopped enjoying what was your passion? Feels like a job?
What’s the solution? Working harder, doing more, chasing every lead? Having endless internal meetings to sort out what’s going wrong. All that’s happening is you’re getting more and more tired and your enthusiasm is disappearing. You are now working for the hardest taskmaster of all, yourself…..
This vicious circle can be stopped by standing back for a few hours and talking through with someone outside the business about what’s important to you about your business, the Why or purpose and think through what you need to focus on to achieve your Why, coming up with an action plan, a strategic plan. Then on a regular basis follow up on this plan in order to implement the key actions, supported by the key numbers vital to the understanding of the business performance. These numbers include non-financial as well as financial figures.
Tom and Peter run a web design business but always seemed to be working and made little money and had lots of small jobs which didn’t really interest them. We stopped and took two half day sessions to discuss what they wanted to do and how they thought they could get there. The sessions were followed up by smaller sessions discussing the action plan supported by reporting of key numbers and within one year the business profitability had improved dramatically to the levels wanted, Tom and Peter were doing the sort of work they wanted and their working hours were under control and much reduced. They had decided to focus on specialising in the kind of work they enjoyed and on bigger project work for agency clients as opposed to working for smaller local clients.
Jake and Tim despite working very long hours were never confident that they were making the money they deserved as they always got the financial information very late and couldn’t understand the figures when they got them. After our appointment as their accountants and business advisors a strategic planning session confirmed that their plans were on the right track. This was followed up by a tidy up of the financial ledgers and prompt reporting of the financial numbers up to date. This gave Jake and Tim the confidence to put their strategic plan into action and subsequent quarterly management accounts reported the growth of their business by over 100% over the next two years.
So how can we help? As well as saving tax, time and worry, we work with business owners to help them grow their business in the way they want. We do this through helping business owners get better understanding of their business numbers and also by getting focus on where they are going, what they want to do and their Why, through strategic business and financial planning. We agree action plans and then follow up with meetings on a regular basis.
Contact Jan on 07890 239442 or 01924 254802