Out and about helping YOU succeed

When times become tough it is all the more important to KNOW where your business is and what it is doing.

Do you know if you are breaking even?

Do you know what your cash position and forecast are?

Do you know how you are going to get that work done over the holiday period with less staff?

How long can you survive hoping those orders are coming in?

These are just some of the Hard questions we need to ask ourselves, understand the answer and then decide the appropriate actions we need to take.

Despite all the statistics and information telling us how businesses with business plans are more successful than those without we still don’t have a plan. BUT when times get tough the slack or optimism in any of our businesses goes. It can turn very quickly into decline and we need to know what is going on and respond. The “patient” can get sick to terminal in a very short timescale without the right treatment.

This is a time when it is all the more important that you are working “ON” the business and not “IN” the business. Work out your costs and work out your forecast sales and income. BE REALISTIC. Then work it out again assuming the worst case and the lowest of all your assumptions. Take note or when it is that you start losing money and not making money. Look at what actions you need to take to slim down or address unnecessary costs and what you need to do to drive up the income.

Whatever the outcome of your review, the important thing is that you have increased KNOWLEDGE and the information upon which, to make decisions and take actions.

Your chances of survival just increased.

This is not about negative actions but positive actions. They are positive because they are proactive – thought through, in advance and considered.

If this is something you are not used to doing, unsure about how to go about it don’t hesitate – just ask us.

Carol

Call Yorkshire Business Services on 01943-607851 and visit our website and learn more at www.yorkshirebusinessservices.com for more news of what is happening in your own Yorkshire business community.

Labels: business, Change, Growth, planning, Profit, success

I had the great pleasure to go along and hear Tim Campbell of apprentice fame, speak at an event in Harrogate last Thursday evening.

He is an excellent speaker and and went through his experiences and challenges and also some of the lessons learnt through the Mentors - such as Alan Sugar have shared with him and that he has experienced.

Out of this excellent session one of the messages Tim spoke about rang out loud and clear.

Are you in a business or do you just have a hobby? A business makes money and a hobby just gives you money to live on.

How many of us run our businesses as a hobby? Its not wrong or right but it is important we know what we are doing and act accordingly. If we are in it to make money and run a business then we must have a plan and clear deliverables on the way.

Which is it that you have? When you are thinking about starting up in business or working for yourself are you clear where you want to go?

If you are not sure or you cannot answer this then how do you expect to get there!

Look closely at yourself and your proposition and ask yourself these questions and be honest!

Labels: business, planning, Profit, success

Friday was a long day. But a very good day.

I was privileged to be invited to the opening of La Stazione in Ilkley by Enzo and Jane.

This couple have moved to the area in the last year and are making there mark.

Enzo's vision has come to life - He had successful businesses in both Florence and London before this and I am sure this will be even more successful. Why because he has learnt his lessons.

Despite knowing the restaurant business very well he has planned and researched before committing to opening a new venture. He has chosen the image, the product and service to fit the location. The location and timing are also excellent. On the station - just after the opening of M&S food store which will improve and increase the footfall considerably. And its Mayday parade next weekend when thousands of tourists and visitors come to town - weather permitting - a lot by train.

I was lucky to be invited to the launch on Friday and Jane hosted and networked the event wonderfully. The food and service were superb. What was wonderful was the people invited. Family and friends of course but also the people they had worked with and met who helped make it a success. Business people and services locally. The selection of sources and suppliers carefully thought out, tested and researched. The bread selected from bakeries Enzo had researched. (Guess what, its in Otley).

Please try it out - don't rely on my version - support a business and enjoy the atmosphere, service and food.

If you want to know more email or give me a call and find out more carol@yorkshirebusinessservices.com

Carol

Labels: business, planning, research, starting, success