Transcript for Business Growth : Understand what’s going on
Hi there, I just wanted to share some stories with you, I’ve just been with a couple of clients recently and the themes have been consistent about how I’ve been able to help them. You’ll have seen my previous videos on getting a golf professional to help me with my putting, and how I kept on putting it off and if I had done it sooner, I would have had that external experience come into the problem and try and solve that.
I’ve had another couple of examples of these, over these past couple of days, I started work with a guy who has had some quite catastrophic changes to his business, that had meant he had a big hole in his cash flow.
What had happened was that he had a major account loss and some staff leave, which had left a massive hole in his sales numbers. Now actually we were thinking of solutions to fix this, but firstly job number one we had to work out how big the hole was and he wasn’t sure how big the hole was.
We did some you might say ‘back of a cigarette packet’ calculations and worked that out into some more budgets and looked realistically what his sales budgets could be and the effect of this on his cash flow within the business. Then actually you then know what the size of the hole is or isn’t.
The problem ended up not as bad as he thought it would be, so the solution could be a different solution to which we thought we would need. So, it was great to be able to know that.
The second was that I did some work with a client and we started to explore all sorts of business opportunities to expand his business. Actually, when we talked about the team he had surrounding him, we found out what was holding him back wasn’t actually being able to exploit these opportunities, it was about having the right team and the right people in the right jobs to support him so he could get on and build the business and we identified what needed to happen was to make sure that everybody was what you might was on the bus, pushing in the same direction.
So, we are looking at working with a specialist that deals with staff and team issues, and she’s going to undertake a staff engagement survey and start to build a picture.
From there interview some people and start to get to the bottom of what everyone feels their responsibilities are and make sure everybody is on board with what the business owners vision is.
What was interesting was that we got together thinking we would talk about one thing and we ended up talking about something else but we got to the root of the problem as far as we were both concerned.
So, it’s really important to understand what your situation is and what’s going on in your business.
You may have a feeling for what’s going on in your business but in my experience with working with people is that’s it’s not always as it would seem, so I would say to people is, do you really know what’s going on have you explored the issues and have handle on what you need to change or do differently in your business to drive your business forward.