Is your business a little drunk?

You’ve probably seen a few in your time. The drunk falling out of the pub, absolutely intent on getting to his destination if only he could remember where he was going and how to get there.

Ask him his name and he can hopefully recall this but ask anything else about him (or her) and you may struggle for a coherent response. An incredible amount of energy put into going nowhere.

Too many businesses also seem to be reeling about with no idea of where they’re heading (stop reading now if you’re feeling in control) or how they’re going to get there. In this case it isn’t alcohol but just everyday busyness, firefighting and minor crises.

Take a moment and consider:

  1. What do you, the business owner, want out of life? (your life goals)
  2. What do you need from your business in order to achieve this? (your business goals)
  3. What does this look like financially? (your budget)
  4. How are you going to achieve this? (your action plan)
  5. What will this cost? (revise budget)
  6. Are there any financial or time constraints on the actions you can afford to take? (revise action plan)
  7. Does this still give you what you want? (check life/business goals and adjust budget/actions)
  8. Start driving
  9. Check that you are on the right track (management accounts and non-financial KPIs)
  10. Adjust course accordingly to take account of diversions (coaching satnav) or blockages (specific business advice or consultancy)
  11. Repeat until you reach your planned destination

If you need a hand then we can help with strategic planning days, budget days and/or regular coaching sessions or ad hoc advice to keep you on track.

Business is tougher when you go it alone.

Never throw away a good idea

I love ideas

When my son was small I’d praise him because he was full of ideas. And some of them were good ones. At the time of writing I’ve recently helped to judge a dragons’ den afternoon at a local primary school. Kids are so uninhibited in their thinking which is always great fun. (OK, perhaps not always fun as a parent digging your child out of scrapes but we usually laugh afterwards.)

As such I keep all my half decent ideas in a folder of post it notes, magazine articles, an ideas list and more detailed notes on my phone.

Even this article started off being typed on my phone as the thoughts just came to me between meetings.

For some time now I’ve been planning to write a book using the materials from my business articles, blogs, Money Matters talks and training workshops such as our Strategic Planning Day and Budget Day as well as our Directors’ Webinars. This was almost a pipe dream as it was so far behind growing a successful business myself (that’s taken a few years!) and then my June 20117 ironman attempt required 6 months of intensive training.

After my iron distance triathlon I knew that I’d need a new project to keep my interest so I spent my recovery week eating, sleeping and looking for something that excited me.

The following week I found myself putting together the outline of a business book. A mixture of business theories, my own practical experiences and stories of clients and friends. I also received my first payment for an article and a further two  commissions which means that I am now a professional writer.

The framework of my first two books (one for accountants and the other for general business owners) came together quickly because I’ve been saving ideas and material for a long time. In the process I also found enough ideas for two further books although they will require more research and content. The first book ‘The Numbers Business: building a successful cloud accountancy practice’ is due for publication 10 September 2018

This is quite an exciting time but it also emphasises that you should never throw away a good idea. Even our quarterly Money Matters events came out of a file of ideas pulled together with the help of Evolution PR (thanks, Kerry) and a few guest speakers (thanks you lovely lot)

So get yourself a notebook, paper or electronic, to capture all the ideas that you have. Even if you’re not likely to use them for years.