With the festive season well and truly under way it is very tempting to convince yourself that the last set of monthly figures were not as bad as all that and put off wondering what you are going to do about it until the New Year. Tempting but wrong.
When you are trying to turn your business around time is precious and, although it may be a little unrealistic to expect you to take action in the next couple of weeks, it is an ideal time to plan. Start by asking yourself some basic questions: are you getting the best possible return from your people, your assetts and your capital? If not, why not? If things aren't going so well, is it truely temporary or are you simply ignoring the real things that are holding your business back?
If you are lucky enough to have a business partner (or partners) that you trust, take some time out for a real heart to heart about where you think the business stands and what needs to be done.
Whatever you conclude, if you are asking these sorts of questions I doubt you will decide that you should leave things as they are so draw up an action plan for implementation when you return after the holidays.
In my next post I will discuss what should be in the plan and how to put it into action.
About Me
- Colin Barratt
- Anyone running a business these days deserves a medal but sometimes you seem to be pedalling so fast just to stand still. As an experienced Company Director I have made a career out of helping hard pressed owners and managers analyse their business and then show them how they can get a better financial return for all their hard work.This isn't always an easy process and often hard truths have to be faced but the rewards will be there for all to see-and admire!