Business beaver (From Wiltshire Business Online)

Business beaver

12:45pm Tuesday 5th August 2008

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LIKE many of you, I am sick and tired of talk of recession, credit crunch and general economic gloom and doom. But, unfortunately, for a great number of businesses there are some very real issues and much pain to face.

Many business owners are seeking ways of protecting themselves from bad debts and are worriedly eyeing up their order book and cash flows.

What continues to bemuse me is that, for a number of these businesses, better strategic planning would prevent many of these issues arising.

Building a business to be proud of and planning for the future involves creating strategies for growth, profit and culture, and formulating risk plans. It is a process, and one that very few small businesses currently benefit from, often because they are just too busy on a day-to-day basis.

The secret is to keep it simple and answer the question: what do I as a business owner want?' Too many people fall into the trap of thinking they must come up with a strategic vision that Bill Gates would be proud of. They spend hours formulating a plan that becomes over-complicated and financially and logistically unattainable.

Understanding yourself, your likes, dislikes and expectations can be the start of the road to success. I choose, as a partner at Morris Owen, not to spend my day preparing tax returns and accounts. I choose to work on what I am more passionate about and what I enjoy doing, helping businesses become more successful, being a sounding board to help them resolve their issues and frustrations.

It is indisputable that we all perform better when we focus on what we enjoy.

Once you have focused on what you enjoy doing, concentrate on building a team that complements and supports you, giving you more time to do what you do best.

Then focus on the marketing of your business, attracting customers and clients who value what you do and want to work with you.

Yes, it is tough out there at the moment, which is even more reason for you, the owner, to focus on your business and not what you sell.

• Contact Rob Harman at Morris Owen on 01793 603900

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