Are you in business to make some profit? First of all, let’s come up with a definition of profit – This is the one I use: Profit is the money left over to invest after you have paid all the bills, tax, annual holidays and running costs of your life.
So, with that in mind, how much do you decide to have to invest?
You can set all the targets and dreams you like, but if you are not prepared to make and live with tough decisions, then you are probably not the best person to be running a business.
I wrote a blog post about targets and “where your headlights are shining” you may find equally as useful.
It is easy when it’s just you, but when you start to take on a team the responsibilities change as the size of the business increases.
Are you ready to grow? Are you ready to become more commercial?
I’m talking about those tough decisions such as putting a customer on hold if they haven’t paid on time, letting incompetent staff go when they just don’t cut it.
There are probably hundreds of these decisions to make, so that sometimes it may feel like they all come at once. To be successful at the game of business, be focused on what your business needs, not what you think you need. A successful business feeds the owner.
When you are able to make these decisions promptly (not rashly), then you will be running a commercial enterprise.
The next bit is to get your business running without you having to be there; and having someone in place who can make those decisions for you.
If you would like to share making tough decisions and learn how to take them, for yourself, call me on 07766 080770 or email firstname.lastname@example.org