business-owners

Hot Tips for Business Owners

Written by: Alan Rodway

1. If you’re too busy …. you’re probably too cheap. Being too busy is one of the worst excuses used to justify not changing the business. Being busy is a strong sign to seriously consider increasing prices. By doing that, the drop off in customers is almost always less than proportionate to the price increase, so net revenue increases, workload goes down, resources needed reduce and ability to work with target customers goes up.

2. If you’re not physically and mentally fit … you’re not professionally fit either . It is impossible to perform at the highest level if your mind and body are not good. Getting yourself right is a prerequisite to being able to drive the business effectively. ‘Not enough time’ to get yourself right is a nonsense.

3. Ask yourself who you want to be …. before you ask what you need to do . If you are not who you want to be then what you do is likely to be ineffective, even illogical. What you do must reflect who you want to be as a person, so that your behaviours spring from the right platform.

4. Reward attempts … not just outcomes . Initiative drives change and every business has to change (not just improve). So attempts (including taking calculated risks) have to be rewarded, not just outcomes.

5. When you don’t think you need help … you may benefit from it most . Sustained success in business best involves challenge from the brains of others, not just when you think or feel you need help.

6.Whenever you hear a cliche … insist on an action . There are a myriad of cliches that make sense for business. “Work on the business not in it”, “Turn key operation”, “Work smarter not harder”, “Failing to plan is planning to fail”, etc. The problem is that the cliche is so accurate that people satisfy themselves with having made the quote. The quote must cause an action.

7. If and when you think you’re ‘getting there’ … you’re not . There is no destination in business, only change.

8. The culture in your business is a direct reflection of you … so set the scene by how you behave . To change the culture you have to change first and for long enough for people to trust that you have changed.

9. Ask first how to develop your people … before asking how to improve business outcomes . Whilst business success is affected by technology, processes, innovation, clarity of direction and strategies, etc. it is people who drive all of that. Make your people your focal point and the rest will follow more easily.

10. If people around you are only as smart as you … hire people who are smarter . Most of your key people have to be smarter than you, otherwise they will add little to what you can achieve yourself.

11. No one changes their behaviour as a result of losing an argument … engage conversations instead . The emotional challenges of losing an argument will rarely lead to desired behavioural change but leaving an engaged conversation does.

12. Rarely will human nature create success … choose the necessary behaviours . Anger, excitement, frustration, fear, laziness, confusion, regret, indifference, impatience, sadness, jealousy, etc. are all part of human nature. The chances of human feelings driving successful behaviours are 50/50 at best. Your behaviours must be chosen not just allowed to occur.

13. Personality profiles licence natural behaviours … use them to understand yourself but not to justify poor behaviours . “I do that because of my personality profile “ will not improve behaviours nor outcomes. Understand your profile but consciously frame your behaviours.

If you enjoyed this article and would like to see others, then click on the link below.

Accountability BAS and Bookkeeping Services provide professional bookkeeping and BAS services to businesses in most Australian states.

What our clients say about us…

“I had the pleasure of being introduced to ABBS through Jo Bacon the WA representative. The professional service.  I have received has been so essential in assisting me with my new business, I am so grateful for the expertise, professionalism and excellent customer service I have experienced.” Marion B

“Thanks to Steve Cocks from ABBS we managed to get all the books up to date and in no time, … and that took the weight off my shoulders so I could focus on developing my business and moving forward in a more organized and structured way, keeping on top of things every month which makes life much easier.”  Elisabeth G

“As an ex-bookkeeper, I’m pretty fussy about how I like things done and I’ve found Caran from ABBS to be a pleasure to work with. She’s competent and efficient and now that I have her helping me with the bookkeeping for my business, I wouldn’t be without her.”  Sandy T

    “As a sole director of a regional law firm,  I’m very conscious of the need to have the proper business support, particularly in the areas of bookkeeping and trust accounting. Since I outsourced those components of my business to ABBS, I feel as if these vital components of my business are in expert hands and I can relax knowing that it is all being done properly , efficiently and legally.  Rob’s expertise with running a business including his insight with managing employees, his ready availability for a discussion at any time on any business matter, his advice and support, have been absolutely invaluable to CastleGate Law.  In addition, Janice from ABBS looks after my trust accounting through Leap with equal efficiency and expertise – she and Rob make a great team for any law firm.  Not only do I feel like I’m sharing the considerable burden of running a law firm, but I feel like in Rob I have someone on my side as a business owner, because of his implicit understanding of business matters, his encouragement and support. For all these reasons I cannot recommend ABBS highly enough as additions to any law firm or business partner. ”  Kate R

If you would like a brief chat or schedule an online meeting, then call me on:

07 3040 7222

If you would like to get an instant quote:

To be able to provide you with a relatively accurate quote, we will need you to provide some core information that is used for this purpose only.

We suggest you have the bank statements or closely estimate the number of transactions on all business bank accounts and credit cards for the last three months.

2017 Queensland Bookkeeper of the Year Finalist
Registered BAS Agent
Xero Logo