Action Now!
A 7 step plan for your business as you navigate the dip and crest of the business wave
By Michael Said
One of the downsides of being recognised as a speaker specialising in business turnaround strategies, is that I am expected to have all the answers to all the problems associated with running a business.
The truth is, I am an expert in failure and I have the business scars to prove it. I have made bad business decisions, trusted the wrong people, misjudged markets, did things the wrong way round, let the administrative side slide and worked hard instead of smart. And while I do have many answers to share, it’s only because I still ask so many questions and have been where you are so often, that I consider myself quite the expert! My firsthand experience is also the reason you will find these articles relevant and useful and why you can apply the information with confidence.
However, if you are expecting a dry do-it-yourself textbook, you’ll be disappointed. What I offer instead is down-to-earth, hard-hitting solutions given with just a twist of wry humour. If you’re game, then read on and take courage (and direction) from the lessons of my hard-earned experience.
If what you are doing now is not working, I can show you how to change this. In this series of articles, I will show you how to turn your business around by implementing seven simple and achievable steps. Don’t forget though, that all the advice in the world is useless unless you are willing to make changes. Also remember that a plan is not about what you will do some time in the future, it is about what you will do today to bring about the future you want.
To get the most out of these articles, use them as the working document I intended them to be, make notes and do the exercises. I will occasionally include links to pages you can download, print out and keep with you as you read. Let’s work together to make you the successful business owner you are meant to be!
Step one: Determining what’s wrong with your business
Simple, it’s YOU! The biggest problem with small businesses is the people who own them. If we fix YOU, then YOU can fix your business.
So, starting today you have to do something different. You may not know what it is yet, you just know it’s something.
You may well be thinking something along the lines of “I’ve heard this all before. I know that the business strategy/plan is not about planning for tomorrow, but planning for today so I can change tomorrow; and while the theory is great, how do I put it into practice? And why do I feel like I am always drowning?” The illustration below might provide some of the answers to that question.
Your journey started with a brilliant idea. You’ve had enough of working for a boss and want to strike out on your own. Chances are you were not very busy when you reached this decision, because busy people seldom have the time to come up with great ideas. But that, my friends, is a topic for a whole other article.
By the way, want to know the worst thing about working for yourself? If you think the last guy you worked for was an idiot, he’s nothing compared to the guy you’re going to work for now; he doesn’t pay you, doesn’t give you leave, doesn’t understand sickness and certainly doesn’t accept excuses.
In the early days excitement abounds and you can’t stop talking about your idea, to the point where if you are feeling like people are avoiding you, they probably are. Nevertheless, life is incredible and everything is coming up roses! Business is walking in the door, your bank account is healthy and you absolutely have made the right decision. Then you reach the ‘I can do anything stage’ where we believe we can do anything, including walk on water if we have to. You begin to think you can successfully replicate what you are doing in Johannesburg in Pretoria and even Cape Town, what you’re doing for CDs you can also do for books... and so on. I also call this the PAYE stage, aka Planes, Automobiles, Yacht, etc., in other words, everything you shouldn’t be buying!
Then one day you wake up to the first signs of trouble – an order gets cancelled, sales are slow and a staff member reports you to the CCMA. Suddenly things are not so easy and you find yourself languishing in the dip of the wave. It’s debilitating, demotivating, drains your energy and enthusiasm and is probably where most small businesses in South Africa find themselves right now.
Personally I go through a dip every April without fail; come April I always think ‘Apply for a job’, but somehow, things always begin to turn around at the point called ‘Decision Time’.
Decision Time is when you decide you don’t want your business to struggle anymore, that you want to do something better. You may even decide to give up, or if you do decide to carry on it is with the understanding that you have to do things differently. For many of you that moment may be now and it is for that very reason that you find yourself reading this.
Once the decision has been made, that’s when the real work starts. You start doing all the things you should have done in the beginning; you register for VAT and you actually pay it over, you finalise outstanding licenses and agreements, you get a decent invoicing and accounting system and most importantly, you stop procrastinating! Then, finally, the reward! That wonderful, exciting, it-was-all-worth-it moment. But don’t forget, this is a wave with highs and lows that keep on recurring day after day, week after week, month after month, and year after year. Successful small business owners realise they’re sliding down the wave into the dip, but through experience they manage to get out of it in plenty of time.
In the next issue we will look at some of the basic mistakes businesses make and begin the journey of addressing these mistakes and turning things around.
Until then, I wish each and every one of you the success you so richly deserve and don’t forget that I am always here to help, as are many others who have also been through the business wars, and survived!
www.brandstrategy.co.za
info@mikesaid.co.za
+27 11 468 3138
By Michael Said
One of the downsides of being recognised as a speaker specialising in business turnaround strategies, is that I am expected to have all the answers to all the problems associated with running a business.
The truth is, I am an expert in failure and I have the business scars to prove it. I have made bad business decisions, trusted the wrong people, misjudged markets, did things the wrong way round, let the administrative side slide and worked hard instead of smart. And while I do have many answers to share, it’s only because I still ask so many questions and have been where you are so often, that I consider myself quite the expert! My firsthand experience is also the reason you will find these articles relevant and useful and why you can apply the information with confidence.
However, if you are expecting a dry do-it-yourself textbook, you’ll be disappointed. What I offer instead is down-to-earth, hard-hitting solutions given with just a twist of wry humour. If you’re game, then read on and take courage (and direction) from the lessons of my hard-earned experience.
If what you are doing now is not working, I can show you how to change this. In this series of articles, I will show you how to turn your business around by implementing seven simple and achievable steps. Don’t forget though, that all the advice in the world is useless unless you are willing to make changes. Also remember that a plan is not about what you will do some time in the future, it is about what you will do today to bring about the future you want.
To get the most out of these articles, use them as the working document I intended them to be, make notes and do the exercises. I will occasionally include links to pages you can download, print out and keep with you as you read. Let’s work together to make you the successful business owner you are meant to be!
Step one: Determining what’s wrong with your business
Simple, it’s YOU! The biggest problem with small businesses is the people who own them. If we fix YOU, then YOU can fix your business.
So, starting today you have to do something different. You may not know what it is yet, you just know it’s something.
You may well be thinking something along the lines of “I’ve heard this all before. I know that the business strategy/plan is not about planning for tomorrow, but planning for today so I can change tomorrow; and while the theory is great, how do I put it into practice? And why do I feel like I am always drowning?” The illustration below might provide some of the answers to that question.
Your journey started with a brilliant idea. You’ve had enough of working for a boss and want to strike out on your own. Chances are you were not very busy when you reached this decision, because busy people seldom have the time to come up with great ideas. But that, my friends, is a topic for a whole other article.
By the way, want to know the worst thing about working for yourself? If you think the last guy you worked for was an idiot, he’s nothing compared to the guy you’re going to work for now; he doesn’t pay you, doesn’t give you leave, doesn’t understand sickness and certainly doesn’t accept excuses.
In the early days excitement abounds and you can’t stop talking about your idea, to the point where if you are feeling like people are avoiding you, they probably are. Nevertheless, life is incredible and everything is coming up roses! Business is walking in the door, your bank account is healthy and you absolutely have made the right decision. Then you reach the ‘I can do anything stage’ where we believe we can do anything, including walk on water if we have to. You begin to think you can successfully replicate what you are doing in Johannesburg in Pretoria and even Cape Town, what you’re doing for CDs you can also do for books... and so on. I also call this the PAYE stage, aka Planes, Automobiles, Yacht, etc., in other words, everything you shouldn’t be buying!
Then one day you wake up to the first signs of trouble – an order gets cancelled, sales are slow and a staff member reports you to the CCMA. Suddenly things are not so easy and you find yourself languishing in the dip of the wave. It’s debilitating, demotivating, drains your energy and enthusiasm and is probably where most small businesses in South Africa find themselves right now.
Personally I go through a dip every April without fail; come April I always think ‘Apply for a job’, but somehow, things always begin to turn around at the point called ‘Decision Time’.
Decision Time is when you decide you don’t want your business to struggle anymore, that you want to do something better. You may even decide to give up, or if you do decide to carry on it is with the understanding that you have to do things differently. For many of you that moment may be now and it is for that very reason that you find yourself reading this.
Once the decision has been made, that’s when the real work starts. You start doing all the things you should have done in the beginning; you register for VAT and you actually pay it over, you finalise outstanding licenses and agreements, you get a decent invoicing and accounting system and most importantly, you stop procrastinating! Then, finally, the reward! That wonderful, exciting, it-was-all-worth-it moment. But don’t forget, this is a wave with highs and lows that keep on recurring day after day, week after week, month after month, and year after year. Successful small business owners realise they’re sliding down the wave into the dip, but through experience they manage to get out of it in plenty of time.
In the next issue we will look at some of the basic mistakes businesses make and begin the journey of addressing these mistakes and turning things around.
Until then, I wish each and every one of you the success you so richly deserve and don’t forget that I am always here to help, as are many others who have also been through the business wars, and survived!
www.brandstrategy.co.za
info@mikesaid.co.za
+27 11 468 3138
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