Are You Missing A Trick In Your Business?

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Category: Running a Business

Having worked with a whole variety of business owners, shareholders, directors and senior management in SME's over the last 20 years it still never ceases to amaze me where they are focusing time and attention on in their business. If you analysed the cost of this misplaced focus they are costing their own business thousands of pounds every month.

It really doesn't make sense to be worrying about how much net profit you've made this month and yet you have just cost yourself several thousand in the month.

What's it all about? You will no doubt have heard the saying 'don't sweat the small stuff'! It's exactly that!

Every month I hear senior people discussing the difference in tax it will make on them by choosing one company car over another....and spend hours looking at calculations on the same, maybe a few hundred pound difference in a year. Or spending hours in meetings discussing smaller problems that can have an impact, but very limited impact, and ultimately cost more in staff resource than the benefit they get out of it.

Yet whilst focusing on these smaller areas they are missing opportunities right across their businesses to make a 'real difference' of amounts ten fold and more of what they are focusing on at the moment. It often happens in companies that are trading well, are very busy 'doing as they have always done' and don't have enough hours in the day to consider anything else.

This really isn't just about reducing existing costs, it's about your 'whole business'. Where you can make a difference of £30,000 instead of £2,000. Or for the smaller business a difference of £1000 instead of £100.

So, what is the answer? Usually a fresh pair of eyes to look at your business. The cost will be repaid to you many times over and also allows you to understand and retrain your own thought processes to enable you to grow your business efficiently yourself going forward.