Are you facing the axe from your own business?
There’s currently lots of internet chatter about whether Newcastle Football Club should sack Steve McClaren (BBC Sport), will Remi Garde get sacked or resign from Aston Villa Football Club (Express) and then there was the resignation of Martin Winterkorn from the VW Group (Telegraph) after the emissions scandal.
These cases pose two questions, number 1 is how much influence does the manager have on the performance of the players and number 2 is where does the buck stop when it goes wrong.
Where does the buck stop in your SME business?
This is an important question, countless business owners insist on being the decision maker but when it all goes wrong they start looking for someone to blame. Now, this may sound harsh but if something goes wrong in your business then you are responsible or maybe a better way of putting it is you are accountable for that error.
What influence on performance and motivation do you have?
I remember on countless occasions seeing a failing football team, like maybe Manchester United under David Moyes, the clammer and chatter to sack the manager starts. I used to think, “well that’s not fair, it’s the 11 useless players that should be sacked!”. I now see things differently!
The manager, or you the business owner, set the tone for your organisation. So, when things are going wrong and the business performance isn’t what it should be then the buck stops with you! This applies whether you are a one-man-band or employ 100’s of people.
When performance or motivation are low then you need to ask yourself a question, “Am I the best person for the job?”. All the successful business owners do this, do you think Richard Branson flies his Virgin Atlantic planes? So, when you realise that your business isn’t performing the way it should and you realise you’re not the best person for the job then SACK YOURSELF! Give yourself the axe before your customers, the taxman or debt collectors do!
Outsource your weaknesses to experts
Being in business and running an SME is tough, especially on limited resources. But business is even tougher when you do half a job, so review your business and outsource the areas that need improving especially if you have a weak skill set in that area. The cost of outsourcing isn’t as high as you may think and your customers don’t even need to know as the outsourcing can look integrated into your business.
Outsource your call answering and administration
Honey Bee Accountancy are proud to say that we outsource our call handling, we use Michele Ibbs and her fabulous business I’m Your PA (website). This means that our calls are always answered and they text or email through messages, they can offer diary management, book sales appointments. When I first started to use I’m Your PA I estimate that their service saved approx 1 days work per month, saving approx £7,800 a year in lost potential! Now think about what you could do with that 1 day? Earn more money, spend more time on the golf course, spend more time with the kids.
Outsource your social media
I personally love getting on social media and have a good old tweet-up, but social media is waste of time! Well, it’s a waste of time if you let it suck you in and respond to every like, comment and share. So, get a professional in! We use Mark Northall of MarkNorthall.com (website). Mark provides a managed solution to your social media needs so you don’t have to lift a finger to click on share or he can provide you with a comprehensive strategy to enable you to maximise the huge potential of social media.
Outsource your bookkeeping
Okay, this is a shameless plug for one of our services but why would you want to spend more on expensive software licences or spend your evenings in a dimly lite loft conversion sorting through your receipts, hoping that you’ve not lost any invoices and wishing there was a better way. Honey Bee Accountancy offer a hassle-free bookkeeping service that is dead simple, we can offer you an app to capture that receipt so that you don’t loose it, we can set-up an email feed to capture your electronic invoices, we can even offer you automated debt chasing so you get paid faster!
Employ a business coach
You may think you know your business best, but do you know HOW to best run your business? The chances are that there’s always a slightly better way of doing things and a professional business coach can help. We’ve worked with Doug D’Aubery at Executive Training & Consultancy (website) and we’re currently collaborating with Wendy Garcarz of the Wendy Effect (website). These guys can add serious value and £££ to your business.
So, are you going to axe yourself and grow your business?
Carl Ford icpa
Honey Bee Accountancy
Carl Ford is Managing Director of Honey Bee Accountancy, a rapidly growing proactive accountancy practice that specialises in cloud services. Carl has over 15 years of experience in finance and accountancy, he has a successful track record of boosting the profits of small businesses.