Don’t think too hard

Sometimes when we are really busy, it is hard to plan our next move, because there is always something there to distract us. Even if we try to plan, racking our brains under constant work pressure is rarely productive.

That is why the most important matter to plan is to schedule our time off and take it. That includes time during our day not in front of our screen or on the phone or hammering away at something.

I get my best ideas when I am not trying to think about business. I enjoy walking in the countryside, and while looking at butterflies, some bright idea can pop into my head quite spontaneously. Of course I always note it down straight away. Actually I carry a small dictaphone, but a mobile or cell phone or a notebook will do just fine.

Always be ready for an idea or a solution when not at work. I made an important decision only this morning while shaving. Ten seconds earlier I was thinking more about the foam than the email I decided to send, but that is how it works for me.

So do not think too hard, and thinking will be easier. Don’t pressurise yourself. Relax and let the ideas in.

 

Do you have a tax issue I can help you with? Get in touch and I will guide you.

Freebie folly

I had an email from an accountancy firm asking if I would give free tax advice in half-hour sessions over the telephone. I thought the guy must mean free to the client, but his firm would be paying my business.

It turned out he really did mean “free” and that I would be giving this free advice in the hope of picking up start-up businesses as clients as a result of their gratitude.

Things I have learned about free advice:

  • If you give it, you will never be asked for more advice for which you get paid.
  • Your insurance position is questionable if someone thinks they had the wrong advice.
  • Someone who wants it has no respect for all the experience, study and learning you have put in.
  • You could be being paid for the work you would be doing instead, rather than giving time away free.

Yes, I sometimes do give free advice, but that is on behalf of a registered charity. Never, never, never sell your work short, and never, never, never, never work for nothing except for a cause you hold dear.

Do you have a tax issue I can help you with? Get in touch and I will guide you.

Wasting your free time?

We are never short of advice in our daily on-line lives. We are bombarded with newsletters, links to blogs and articles. Many of them tell us what we should be doing when we are not actually working.

Should we be told what we should do with our free time? Is it wrong to watch television as some say? If we do, should we only watch the news, current affairs programmes or documentaries? If we read, should it only be non-fiction, biographies of successful business people, books by present or past masters of marketing?

I think we need time to relax. We need to take our minds of work from time to time no matter how much we enjoy running our businesses. I think my best ideas come when I am not thinking about work, when I am out and about, and perhaps walking in the local countryside.

I read non-fiction, but I also enjoy novels, and particularly detective fiction. Recently I have been reading that old master of the genre, Raymond Chandler. His writing is wonderful; the way he almost paints pictures in words of his characters, of their surroundings, and the often seedy atmosphere. I wish I could write as well as he did. We can learn from the masters though, and I am sure for my part it can help when I am working to be aware that good writing is a great asset.

You may think it strange that I am saying that I do not agree with the advice of others in how to use our free time, and yet I appear to be giving advice with which many might not agree. My point is that we all need free time, but how we use it is personal to us. Our free time must not feel like work; doing something we have to do.

After all, we are all different. What do you think?

Making a meal of it

And so to last Sunday’s lunch… Booked for 1:30 we had ordered within ten minutes. So far so good. From there we waited half an hour for our “starters”. Three fine. Mine not so good.

An hour later our main course had not shown up. We were told our food was just being plated up. Another ten minutes and it arrived. Mine had actually been plated within the last couple of minutes, because my fish was just out of the pan, perfectly cooked and absolutely lovely. But it was so late.

We never had dessert because the two hours we had allowed for lunch were up and one of our party needed to be home.

I really enjoyed my fish, but clearly the kitchen cannot cope. I do not like to rush when eating out but we cannot risk having lunch at this restaurant again unless we are prepared to spend pretty much the rest of the day there.

The lesson? It is no good having a great product if you cannot deliver on time. People remember.

Asking for help

I was having a chat the other day with the chairman of our local Chamber of Trade. He said that many businesses are struggling around our way. I guess he would be in a good position to know, albeit his business is a notable success.

It struck me that when we meet other local business owners socially or at networking meetings, few people admit to their difficulties. It is polite to ask “How’s business?” but apparently so many are actually ashamed to admit that maybe business is not so good.

There are cynics who believe that many networkers do not care about their fellow business owners. It is true that there are certain types who just wish to sell to you and if you do not want to buy they lose interest in you. We have a local guy just like that, but no names, no pack drill. Just the same, there are many who can help and it is there for the asking.

Often someone in your network may not know they can help you, but the help they could give might be of mutual benefit. You might have bought a load of widgets and do not know how to sell them now. They might have a market or a contact, and there could be profit in it for both of you.  You might be bogged down with a contract that will cost you too much time and money to do now. They might be able to take the work off you with a much lower base cost to do. Again passing on or subcontracting could leave profit for both of you. You do not know if you don’t talk. I subcontract some work permanently to others I met through networking. We all make money out of it; decent money too.

Sometimes we need help we should pay for, such as marketing of anything which involves the other party doing all the work. Just the same, our businesses can be improved considerably through mutual cooperation. Ask for help, and if the first people you ask cannot assist you, they may know someone who can.

Don’t be shy. Ask.

Self-belief in business

Now you can criticize...

It stands to reason that if we have our own business we need to believe in what we are doing. That means that we should believe sincerely in our product or service. If we are honest with ourselves we can be honest with our customers. Then we can sell with that sincerity.

The trouble is that self-doubt can always creep in. We are not all constantly confident. Many of us, although actually very good at what we do, cannot quite believe that we are as able as our peers and colleagues, let alone better than some. We fear we will be found out as imposters. Maybe this is a more common phenomenon in women but this was my problem for many years. I think the explanation for me lies here.

Late in my career and rather accidentally, I landed a job which was technically very difficult, and which really terrified me to start with. However, I not only found that I could do it, but that I was very good at it. That was when it came to me that I was not an imposter, but could give as good as anybody, and better than some too.

I had this revelation, but maybe you just have to realise that the feeling of being an imposter is only in your mind. I still have bad days sometimes, and maybe you do too. Just think of all the good things you have achieved in your career and in your business and build on your confidence. Go get ‘em.

Scamming small businesses and individuals

On two successive working days, I have experienced attempts to obtain bank details via cold calls.

The first call purported to relate to a renewal of insurance for an appliance. We did have such insurance but I thought it was up to date. I was suspicious and thought that if it needed to be renewed we would have received a paper schedule via the post. The caller assured me they were trying to save trees. I told them they could send an email, but they were not interested in my email address and rang off.

The second call was from someone claiming to represent the “Call Prevention Service”. They would prevent cold calls from abroad for a fee of £1.99 per month on a four year contract. Again I was suspicious. I asked “Surely my telephone provider would offer such a service if available?” I was told they worked with all telephone providers.

I asked for a number to call back and was provided with one before they rang off. My research on this number led me to this link, so it seems the police are aware. Whether they do anything about it is another matter, but do be careful with these callers. If anyone else in your business is authorised to deal with purchasing, banking and payment matters, do make sure they are aware too.

Turning down work – really?

One of the mistakes many start-up businesses make is taking every project or job, no matter what. I made it myself.  It is very tempting to accept anything which comes along, but the new business owner needs to consider:

  • Is it within our expertise?
  • Will it be profitable?
  • Have we the capacity to do it?

If the answer to any of those questions is “no”, then we should decline politely.

Sometimes even more experienced business people can get this wrong too, and accept work which cannot be delivered satisfactorily. That may lead to damage to reputations. Never be afraid to say no. Feel able to refer another business for the work if you think they will be able to do it. That will make more friends too.

What does not make for a good reputation is a business owner saying “I will get back to you with an estimate or a quote” and then not doing that because they do not fancy doing the job. That is a good way of losing friends and again damaging reputation.

Never leave a prospect hanging. They will think more of you if you decline and tell them why.

Never assume

When I started my first job, every bit of work I did was checked by a more experienced guy. I remember being asked why I had calculated a client’s dividends for his tax return without having evidence they had been paid. I said that I had assumed the shares relating to these dividends had not been sold, so the client must have had them. “Never assume” my colleague said. Although I was stung by his criticism, of course he was right and I was wrong. I should have checked with the client.

Assuming can get you into trouble. There is an accountancy joke “Why did the auditors cross the road?” “Because that’s what they did last year.” That is how mistakes are made, books are not checked properly, and those who are cooking them are not held to account.

In business generally, there are dangers in being comfortable and assuming all is right with our business practices. We need to check and check again we are being efficient. Perhaps above all, we should not assume that our customers are happy. Have we asked them? Everything may look fine from our side, but perhaps their expectations are different. It is too late to find out when they leave us. We should ask for feedback and talk to our clients regularly.

I try not to assume, but am only human after all. I have learned from my mistakes. What about you?

Do you have a tax issue I can help you with? Get in touch and I will guide you.

The simple things

Four of us went out for Sunday lunch. We chose an Inn which had changed ownership recently. We wanted to try it again as our last experience there had not been satisfactory.

The menu was a short one this time. There was not a great deal of choice, although enough for anyone seeking a Sunday lunch.

We all had three courses. They came in generous proportions and my “starter” was perhaps more than generous. Each dish was beautifully prepared and cooked, the service was prompt and courteous but not intrusive, and we all enjoyed our lunches very much. Definitely a ten-out-of-ten experience.

The short menu was a big advantage. From our point of view there was no confusion about what was on offer, and with such a menu, the service was likely to be good because the chef would be on top of all the different dishes. With a long menu, often the chef is over-stretched, which can result in diners having a long wait for food which may not have been cooked as well as it might.

This is a message we can take to all our businesses. We are not Amazon. We do not sell everything. I work with a few core offerings where I can deliver quality promptly and provide a really good service. I try to make sure my clients are not confused about what I offer and that they know exactly what they are getting.

Well done to the restaurant for their service and congratulations to their very friendly staff who made us very happy. They provided an example for us all.