Saturday, 27 July 2013

Get Some Sleep

What keeps you awake at night?

There is probably something ... something you feel you don't quite have under control.

Clearly, this is your first priority - if you don't have control, you have to find a way of gaining control ... or making sure that the lack of control does not have potentially serious consequences.

So you need a 'mitigation plan'.  What will you do if whatever you are worrying about does (or does not if its that kind of worry) happen. If you are ready when things go wrong, you have a much better chance of minimising any damage - financially or to your reputation.

So treat the worry as a positive thing - an early warning system which gives you the chance to plan a mitigation strategy.

Now, you can sleep at night.

Saturday, 20 July 2013

Keep records

SMEs are fast-moving, fast changing organisations. The problem is that too often we don't write things down, we don't maintain effective records, we don't even record all transactions.  These things  can come back to bite us.

So, I know you're busy but do take the time to think about the implications of decisions you take and actions you make.  Also take the time to record things.. better record more than less.

Saturday, 13 July 2013

Time to Innovate

What allows SMEs to innovate?

Clearly the most important factor is the quality of the owners/managers. However innovation needs opportunity as well as capacity.  Those owners/managers need to understand the environment, the competition, the technology that define their business... and they need to be driven to search for something better, for improvements, for higher profits. Then they need the skills to translate ideas into practice.

Sounds easy, doesn't it?  But, it isn't.  That's why the few win and the majority lose.

What are you doing to become one of 'the few'?

Saturday, 6 July 2013

Small company ... big ideas

Many small businesses are so busy that they spend too little time thinking of the big issues and ideas they need to explore and investigate to secure their longer term future.

It can be difficult to take your eyes off the current set of problems for a while but if you don't start work on tomorrow's problems now, they will come and bite you .... hard.

If you want to be a bigger company, make sure you make an appointment with yourself to start thinking - and acting on these bigger, longer-term issues.