To help you grow
Starting up or running a small business is a great achievement to any entrepreneur.
However, running it successfully - an even greater challenge. Often, many face the same issues.
Product or service contracting to one main client can bring its challenges of dependency for having all of ones 'eggs in the same basket', unless there is definite and consistent demand. However, with today's financial market and not being certain of anything - this might prove a challenge and where it generally is more advisable for a business to diversify customer base, to balance one customer order shortfall, with another customers order gain - to plan for consistent product/service demand.
Having founded and raised a business from an initial idea to the first order/contract and continuous demand thereafter, is hard work with many night-candles burned and decisions made, to get things just right. With this in mind, it is often a challenge for a founder to pass on particular decisions and responsibilities to another as the business continues to grow - being unable to let go. Therefore, letting go and passing on some of the control and responsibilities to partners or employees, although might mean an initial quality compromise - would greatly ease the founders dependency pressure, allowing more time to focus on other important tasks.
Working long hours, the stress and worries, and pressure to perform one’s best at all times can become very wearing, even to the best of us. Fearing the business will come to a grinding halt, if absent or taking time off to recharge - often brings on extreme pressure, leading to fatigue and burnouts. Hasty and impulsive business decisions as well as lack of motivation to continue the business, are all signs of physical exhaustion caused by prolonged stress. Additionally, deep personal engagement into the business, personally wanting to oversee every customer meeting and inspecting every paint stroke (although this level of attention to detail is making businesses often successful) can add a layer of personal obsessions on performance and quality, and in the long run, a potential detriment to company's growth. Therefore, establishing a process and a compromise to allow scale without denting the brand and by finding the right pace of keeping the business ticking over within a healthy work/life balance, can reduce the pressure and fatigue burnouts in small business owners and entrepreneurs.
Ability to manage the business cash-flow – is a must. The business will not last very long, if bills are not being paid. In the beginning, a founder may work part-time on the new business while simultaneously working in a more steadier paid job, trying to subsidise and capitalise any shortfalls with additional income. Splitting focus around two cash-flows, personal and growing business, can be a great challenge and becomes even more important to thoughtful handling, when money flows to the owner trough the business, increasing in complexity as customer base grows and new employees join the business. Therefore, professional accounting to assist the business owner with bookkeeping is often advised, to ensure a continuous growth of the business.
Prior to entering the business world, inspired business owners will have considered many of the challenges way ahead in time. However, awareness and trying to avoid challenges theoretically and doing so practically, are quite a different thing.
We know ... how busy life can become, trying to juggle both - a new business and often a more steady paid job to support income.
We understand ... the challenges, and that entering the autobahn of the business world, often feels like driving over hundred miles an hour, not knowing what new challenges are just waiting around the next corner.
We want to help ... when in need of some independent opinion, guidance and advise, from people who know what young businesses are going through, with a passion for excellence and because we take pride, in helping a business flourish and succeed.
" Life's most persistent and urgent question is, 'What are you doing for others? " ~ Martin Luther King, Jr.
From already established, start-up's or at idea stage - we can give a hand and help with advise or find support. For more details about our pro bono consultancy advice and eligibility criteria or how else we can help - fill in the form below with an initial outline of the challenges facing and looking to have support with, or generally to find out more.