Showing posts with label Running a home business. Show all posts
Showing posts with label Running a home business. Show all posts

Wednesday, 30 September 2009

How to run a business and survive - 5 thoughts of the day

A couple of months ago I heard about Business Mum Week and decided it was too good an opportunity not to get involved with.

As a result I’m hosting the Oxford Business Mum Week networking event, for mums who run their own business and juggle work commitments with family life. It will serve as a fantastic opportunity for people to meet face to face and share ideas, support and resources.



A week later, venue confirmed, invites out, and busily distributing leaflets around the local area, I started planning a radio interview, attendance sheets, feedback forms and so on – and realised that I’d inadvertently taken on another ‘little project’ which was rapidly becoming a big deal.

As someone who has set up their own business, you’re probably the type of person that does this. A lot. There are always new and exciting opportunities, ways to branch out, new areas to explore.

Sometimes though, it’s just not possible to do everything. The moment you give your acceptance to this fact is the moment you regain control.

There are two things that have to balance in my mind – my favourite quote from Edison – ‘there’s a better way to do it, find it’, and Jack of all trades, master of none.

There has to be a balance between investing the time to research, understand and execute a job well, but also refine that list of goals to focus on the most important, results orientated objectives.

Having experienced many of these challenges and struggling to keep this balance front of mind in the early stages of setting up my business, I thought it would be good to reflect…

1. If you want to rebrand, launch a new website, start blogging, attend a few more networking meetings and find better office space all before the year is out, forget it. Just because objectives go hand in hand, such as a string of marketing goals, doesn’t mean you need to tackle them all at once. You’ll get so overwhelmed by the ‘bigger picture’ that achieving just one action will become impossible. This can be really demotivating and lead to in some cases, the worst case scenario ‘I need a day off to rethink’ which ends of with lots of movement in circular motions.

2. Be really, really, really strict about your working hours and environment. This I would say is absolutely critical. For a number of reasons working late into the night is never good. If you fire off a proposal at 9pm, Jamie’s American Road Trip in the background and a glass of Merlot by your side, when you re-read it back the next day, it’s very possible that you’ll be wishing you’d waited and looked at it with fresh eyes. It’s also possible that the words ‘pukka’ could have sneaked their way in subconsciously.

3. Manage people’s expectations. It’s not good to always be a yes man. If you have a number of client commitments, orders to fulfil or places to be, then don’t say yes before the other person has even finished speaking just because you feel you should. Offering an explanation, a suitable alternative and managing expectations will do you far greater justice in the long run. Also, if you’re not the man for the job, say so, and recommend an alternative supplier. Again, it will do you favours when it comes to word of mouth in the future.

4. Delegate. There are some jobs that are just better left to the professionals such as accountancy or graphic design. It’s really tempting to try and muddle through certain tasks yourself to save a bit of cash. When you weigh up what your time is worth against how much you could have earned during the hours you spent trying to figure out how to fit the name of your business into a circle, make it look like a sun and add a border around it, then you’ll wish you’d just invested in an expert in the first place. I speak from experience.

5. Figure out what time of day suits you. This goes back to the days of exam revision for me. If you’re bright and breezy in the morning, then get the jobs you want to put off done then. If you’re better on a full stomach after a jacket with beans and cheese at lunchtime then get the challenging stuff done straight afterwards. On that note I’ll leave you with my favourite clip of the moment from BBC Walk on the Wild Side….