03/07/2023
So, why did you become a business owner?
When we start our businesses, we normally have a clear idea of what we want personally from the business, typically, those things include:
· Autonomy – not being answerable to others
· Work life balance – being able to do what we want when we want to
· Financial – security for ourselves and/or being able to provide for our loved ones
· Ambition – Proving to ourselves and sometimes others that we can do it
· Significance – Building something worthwhile, maybe a legacy for the future
Along the journey as we become engulfed in the everyday challenges of running our business it’s understandable that we sometimes lose sight of those things. Eventually however, frustration can creep in - you work very hard, long hours, miss out on family time and the rewards don’t seem to be there. Our experience over the last nearly fifteen years of working with business owners has highlighted these five typical reasons why owners don’t find the rewards they were looking for:
1. The owner is too involved in the day to day running of the business and not focussing on key areas that drive growth/profitability
2. Lack of structure and responsibilities/accountability amongst the staff
3. Insufficient marketing, there is no what we refer to as ‘Marketing Rhythm’ in the business
4. Not enough focus on the financial performance of the business
5. Not managing the six key areas that grow profitability in every business
These are the most common issues we help to address and since 2009 have helped hundreds of business owners to take back control and achieve the objectives that inspired them to run a business in the first place.
If you feel that you would like an informal chat about the challenges you face within your business, with someone that understands business and indeed runs their own business then please get in touch.