Category: Uncategorized

What is business? Well, one definition puts it thus:

‘Business is a collection of ideas, executed as products or services’ (R Maun, 2016)

And it follows then that a successful business is when those ideas are executed to a good standard, which results in satisfied customers, repeat purchases and the generation of a positive cash flow. Without those three outputs a business cannot remain a sustainable and viable entity. 

Tracking back from this, we need to ensure that our business is kept supplied by new ideas. These might be concerned with improvements to our products, new ways for people to buy from us (think about car manufacturers launching lower cost models to provide an easier entry point into their range), or the removal of waste from our processes in order to increase margins, or to stay competitive.

Without ideas we will stagnate and be out-competed by those who constantly innovate. Think about Google vs Yahoo, or Apple vs Blackberry. Two of those started as the underdog in their market, two were leaders who failed to keep pushing the boundaries.

When we are planning our week it is vital that we allow time to think and to create space for ourselves that works for us. Personally, I find a spot of business sunbathing works wonders. My body might be stretched out enjoying the delightful process of gaining a tan, whilst my mind is free to wander and ponder. It’s a perfect combination for me, a win-win that ensures I go brown and my business doesn’t go into the red.

What do you do to give yourself space to think? There’s still some tanning time left if you hurry!

Next week: It’s Ok To Say No 

How good are you at making tough decisions? Successful business comes from knowing when to act and when to realise that we are perhaps a little blinded by emotion and so failing to take decisive action. For example, are we:

Hanging on to a loved product, that doesn’t earn any cash?

Avoiding making personnel changes, because we can’t face a difficult conversation?

Delaying sales activity because we don’t like networking with new people?

I’m sure we all allow emotion to cloud logic, and it could be argued that logic doesn’t really exist, it’s just a more grounded emotional response to things. However, we do need to do the right thing in business. We need to remove an obsolete product from our range, shed staff when their skills are no longer needed and hit the road and go seeking new customers.

Doing the right thing isn’t about being mean or callous. It’s about responding honestly to the situation we are facing. Business never stops evolving and so if we don’t make a few tough decisions from time to time we are likely to be out-paced by the competition. Then the toughest decision of all could be upon us …to close our business.

This week look into your heart and ask yourself what are you ignoring or delaying?

And if your heart needs a friendly guide then feel free to get in touch. Doing the right thing doesn’t have to be lonely!

Next week: Business Sunbathing