I’m willing to bet that your business has only got 3 problems:

1. Not enough money
2. Not enough time
3. Not enough good staff

I’m also willing to bet that no business has ever solved these problems. Like it or not, we only have the resources that we have. And it’s rare that we consider them enough. And yet every day businesses succeed and grow.

Not enough money
I once bought a one way ticket to Los Angeles, and landed there with just $50 in my pocket. I was young and naive enough to believe that I’d be ok. You don’t need lots of money to achieve your ambition, just pure bloody mindedness, and self belief.

Not enough time
Demands on our time have never been greater; everyone wants to grab our attention. Achieving a perfect work-life balance is a goal that always seems just out of reach. Life is, and always has been difficult. Have you worked out what’s important to you? Do you give your time to the things that matter most?

Not enough good staff
It’s tempting to believe that no-one does it as well as you do. No-one may do it quite like you do, but isn’t quality a judgement made by the customer, not the salesman?

All this sounds like a case of tough love, but in business (as in most walks of life) we need to make the most of what we actually have, not what we would like to have.

If you would like some help looking at what you have, and checking that you are making the most of your resources (money, time and staff!), let me know.

Blogging as a way of communicating is being debated. Is it a good thing, is it just plain self-indulgent? Is it right to give the general public the ability to speak, well, so publically? http://journalismleadersforum.blogspot.com/2009/05/12th-forum-itv-news-chief-times-web.html

As with all forms of media, from the first printing press to twitter, there are those who just don’t get it, and those who do. There are those who use it well, and those who don’t.

Blogging is a relatively new medium that might yet have its place in history, but that place has to be fought for and proven. Twas ever thus.

I believe it can be a force for good, and Jo Geary’s eloquent support is key to its survival.
http://www.joannageary.com/2009/05/13/qit8-im-sick-and-tired-of-this-infernal-blog-debate/

I found myself despairing today, about the lack of interest in the Balance Sheet by some businesses. I believe it is the single most important piece of information every business needs. Why?

Look at it this way, as an individual, we tend to know how much we owe other people, how much we own, even how much we are owed. It’s nice to have sense of how much we are earning, but the bit that gives us the warm fuzzy feeling of stability – or the cold shivers of concern – is the detail of where we are financially right now.

That’s what the Balance Sheet is. It’s a snapshot of who owes you, who you owe, and what you own.

As a barometer of your organisation’s health, check out the Balance Sheet. And if you want an idea of what shape you are going to be in, then ask to see the Balance Sheet’s forecast position. It’s not rocket science, and could save you from some very unpleasant surprises.

Spent a great afternoon today on a panel presenting to a group of aspiring film makers. I am always inspired by those who have creativity running through their veins. Something about art being the object of their day’s work, not the pursuit of profit.

My input was to help improve the participant’s business skills. Also on the panel were four (yes, four) lawyers.

Art is good, sustainable art is better; be led by your work, not by the corporate structure.

Thanks to The Producers Forum for organising a great session. http://www.producersforum.org.uk/about.asp

I have been wondering what I could “give away” to give you an idea of the kind of support I give to businesses.

The first thing that occurred to me was a simple excel spreadsheet that shows how the P&L links to the Balance Sheet, which links to the Cashflow, which links to the P&L. You get the idea – its a neat pro-forma.

Then there is my list of the various kinds of accountants that businesses use – there are more than you might immediately think. This is helpful because you need someone to look after all aspects of your business’s accounts and it’s easy to overlook something…

Then I have a list of accounting software packages I know, either through using them, or reviewing them, or simply on recommendation – handy when discussing potential changes.

I have a great contacts database, but that’s worth a little too much to just give away…

I keep wondering about a FAQ page for my website. Is there an accounts question you always wanted to know the answer to?

So at the moment I haven’t got anything to give away. Should I have something? Is what I do too intangible? Does a freebie make a website more attractive? What would you like?

financial business support
Just had a really interesting chat about accounts packages (no, really!). It boiled down to compromise. There are a number of “must have’s”, including basic transaction recording, simple reporting for statutory purposes, and more complex reporting for management.

Unless you have £20,000 to spend, its unlikely you will get everything you need from a single piece of software. So how much functionality do you require your accounts system to have, and how much do you export to excel?

On one level, you spend as much as you can in order to get as much out of your accounts as possible, using excel to tidy up the presentation. On the other hand, you can get a simple accounts system that copes with the basic transactions (reconciling actual activity to the bank for example), and export key figures to excel to provide all your management information.

Both are compromises, but I suspect the latter could cost a fraction of the former. Its worth thinking about, and could save you a lot of money…

Financial Business Support
Many years ago I interviewed a bunch of characters for the post of Nightclub Manager. Failing to make a decision, the panel asked itself the following question, “If the interviewee was a nightclub, would I go to it?”. Suddenly the choice became easy.

It is very easy to forget the impact that the person has on the identity of the business. Every employee, from security on the front desk to the chair of the board, adds a key ingredient to your brand. In times of apparent doom and gloom, what kind of impression do you give the outside world?

A visitor to your business, whether by phone or in person, may well learn more about your company from the first point of contact in the first few minutes than in the whole of the meeting you have carefully planned.

Recently my son appeared in a community production of Joseph And The Amazing Technicolor Dreamcoat. It was a great show, with all the drama and fun that being part of an amateur musical entails.

As I was reading HSBC’s January Economic Outlook report this morning, it struck me that leaders have an incredible capacity to forget the lessons taught to us by experiences in the past. Over the last few years we have all read, and talked, about bubbles bursting, and such levels of growth being unsustainable.

Joseph told Pharaoh how important it was to save during the years of plenty, as reserves would be needed when times turned rough. Pharaoh listened (and no doubt received conflicting advice from other experts), and decided to impose regulation that ensured his country would withstand the inevitable downturn in fortune.

Are today’s leaders willing to take the same kind of action as Pharaoh? They haven’t in the last few years…

Change is happening, but are we aware of how fast life around us is changing? And is someone in control of change any more, or has Pandora’s Box been opened and no-one knows how to close it?

Interesting post here with a sobering message.:

http://www.tom-watson.co.uk/2008/12/a-goodbye-to-woolworths/

Who is willing to take action?