How to Make Business Easier in 2024

Do you remember when you were doing a corporate job, maybe a few years ago now, and you looked at the senior management and thought, geez, if these muppets can do it, why the hell can't I??? At that time, you didn't quite fully realise the challenges that went into the day-to-day running of a small business and how hard it could be!??

Are there days when you absolutely dread going into “work” because you're just so dog tired of never knowing what fires you might be fighting today??

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How Do you Feel today??

Is it sometimes really challenging when you're out with your friends or down the pub with your mates or even your staff that they think that you're this huge success - all because you've got people working for you, and you’re turning over in the millions? What they don't really understand is that the millions in turnover also come with sizable costs and managing a team, and really putting in a huge amount of time and effort actually running the business as well as making sure that you can pay all of the people that you've now taken on.?

Did you actually anticipated the amount of impact that was going to have on your family? The amount of time that you've lost with your kids?? You might be in a better position financially, but it comes at the cost of the amount of time that you have to spend being boss. And that whilst you might get some flexibility, it certainly isn't the time freedom that you thought you were going to have. If you looked back, would you do it all again??

But running a successful business doesn't have to feel like that. If you are not achieving what you think your business are capable of, and that the day to day running of your business just seems to get in the way of you pushing your business forward, then you need help.? It definitely doesn't have to be like that.??

You've got staff which you worry about retaining and you might be struggling to attract the right people. You might feel that more often than not you are settling for second best. But again, it doesn't have to be like that.???

If you feel your business could be running a whole lot better if you just had a few things in place, but you often feel like you don't have the time or the capacity to put things right, then there are some relatively simple ways of improving your business right now.? Imagine the life that you could have if your business was more efficient and not so reliant on you keeping it going. Imagine being set free to grow your business to what it could be, not what it is right now.??

If you are feeling like running your business is harder than it should be, and you are experiencing a whole lot more stress and worry than you expected when you started this venture, then something needs to change – and it can.?

If you're working too many hours, not generating enough cash or worrying about your cash flow, and you not able to take advantage of the growth opportunities as they present themselves, there are some simple, immediately implementable ways of making the changes to the way that your business performs.???

This will change the way that you feel about your business. You don't have to feel so out of control. It's time to get a grip of your cash flow, to get a grip of your time and get a grip of your business so that you feel in control of your business and not that the business is controlling you.? It will also make the business worth more in the long run.?

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How to Make it Better?

There are so many ways of making business better and it differs in each business.? Here’s the top 5 that I’ve observed from experience that really make a difference:?

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1. Get Your Business Valued?

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Getting the business valued means you know what the gap is between where you are now and where you want to be in terms of how your business value is going to serve your financial future.? Only 2% of business owners ever have their business value and use their best guess to judge their net worth.? This often leaves them very disappointed when they come to sell and find the maths doesn’t add up.???

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Getting your business valued is quick and easy – it takes 48 hours and some easily available information.? Get in touch to find out more.?

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1. Decide What Your Exit Option is.??

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When you know where you are going, you can share those plans more easily.? There are many options available to you if you have the right preparation in place.? This means setting your strategy, communicating to others and getting everyone aligned to those plans is easier.? Get clarity and you’ll get focused.? So will everyone else in the business.? If you don’t know where to start or what your options are, get in touch with us and we will start you on that journey.?

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1. Build a World Class Team?

There’s an old African saying “If you want to go fast, go alone.? If you want to go far, go together”. And it’s certainly true of business.? Any business that grows needs good people.? This means not recruiting clones of yourself but seeing the roles that are needed now and in the future.? When you know where the business is going, you can plan for the manpower you’ll need and get ahead of the curve rather than lagging.?

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1. Get Succession Planning?

There are multiple levels of succession planning.? Ownership succession, management succession and other roles succession.? In all cases it’s simply good business practice to have a plan B for every employee – some will leave for a career move, some to have a family, some due to ill-health.? Whatever the reason for changes in personnel, it will happen and usually at the times when you least expect it.? Having a plan means you are always prepared, and more importantly so are your team.? The best succession plans are communicated to everyone.?

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1. Focus on Governance?

You, as a business owner, are not immortal which means you will leave your business one day.? Good governance is about decision making.? When you are the only decision maker in the business is bad for business, bad for your team and bad for the business value.? Getting clarity about who does what and why means you will have the right people doing the right things for the right reason at the right time.? Getting out of being the sole decision maker makes your business run smoother and more valuable.?

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There are just 5 headlines to make your business easier to run and worth more.? Find out more way to make it better in my other blog articles.?

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Christine is an author, speaker and multi-award-winning professional business mentor who helps business founders significantly change business outcomes and with it their quality of life.? She saves them THOUSANDS and increases the value of their businesses by MILLIONS.? Since 2000 she has generated over ￡millions of crystalised value in business exits.?

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She’s the published author of 4 critically acclaimed business books, 5 Minute Finance, What’s Your Profit Score,? How to Build a Unicorn and SELL IT.?

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