The pain of business envy

iStock_000020557146LargeWe can always look over the fence and see how our colleagues and contemporaries are doing. Sometimes business acquaintances or former work colleagues are making shed-loads of money; much more than we are. I know people who get very jealous and ask why those other people should have more than they do.

The answer is always because those very successful people have worked very hard. They may have had a bit of luck, but luck does not help without hard work.

More to the point, can we learn from the success of others? What have they got right and should we try the same tactics?

Also, if we are happy with our lives and financially comfortable, why envy others who have more money. Are they happy too?

We can always learn from our peers and we should, but envy is one of the seven deadly sins and it can gnaw away at our confidence.

Work hard, be happy, and feel better without comparing our lives to those of others.

Staying in touch

Human beings are social animals. We like to hear from people. We like to know that we are in the thoughts of others. We like to belong.

Our clients and customers are human beings. They like to hear from us not just at the time we do work for them. They like to know we are thinking about them.

It is important to stay in touch, not just with the occasional generic email or newsletter. Check how your customers are. Make it personal. Ask them if there is anything they need. Make them feel wanted. You like to feel wanted, don’t you?

Don’t be greedy

Don't eat them all!

Don’t eat them all!

I believe in value billing. That means that I bill my clients what my advice and service should be worth to them. They get something they are happy with, and I get rewarded properly for my efforts.

However, greed for business can trip us up. I get offered more than I accept. Some I turn it down because the value of the work is not high for the customer or client, and therefore the reward for me would not be enough. I will not charge a client a lot more for something as good she could get somewhere else. I direct her to the somewhere else.

The greater danger for some of us is in being tempted to accept business that is outside our normal area and which may be beyond our current experience; even beyond our expertise.

I pick and choose what work my business undertakes. I do not do everything “in-house” of course. If it is work I can give my colleagues and supporting workers who can do it well, of course I accept. It is that stuff which we do not know enough about which can trip us up badly.

We can certainly recommend others in our stead if we are not confident. We should never be afraid to say “no”.

Schedules? Boring but important

26 Feb 12 upload 024 (2)“I don’t want to be hemmed in by my diary”

I am not a business coach, and have no ambition to be one. I do know a lot of business people and one who is in complementary therapy claims she has not enough work. Now I know she is good, because she has laid hands on a lot of people including me. Why does she not have enough work?

In her case, it is because she is not available consistently. She has been unlucky with premises issues, but she could get around these if she had fixed days for her therapy.

The trouble is she is too easily distracted. Therapy clients like to come once a week or once a fortnight, perhaps. They think of, say, Tuesday morning as their chill-out hour or so with their therapist. They don’t like to be messed around.  They do not like to come on different days of the week at different times. They have schedules too. They have people and events in their own diaries.

All of us who provide a service need to be there for our clients when needed. If it is a hands-on service, we need to be there at appointed hours, not Wednesday afternoon one week, and Thursday morning the next week, and Monday evening the week after. Our lives should have a pattern our clients can fit around.

Being there is what matters, and that means being there when needed.

Are you in a hurry?

iStock_000007991360XSmall cross businesswomanIt is easy to spot when someone else is in a hurry. We notice the window cleaner misses a bit or leaves a smear, or a cleaner misses a cobweb or so, or the vegetables in the restaurant are not cooked, or are cooked too much. That all indicates a lack of attention.

It is easy for us to judge, but we have to keep an eye on ourselves too. Have we rushed that report? Is it up to our usual standard? Have we made sure our client understood it? Have we remembered to follow up and speak to our customer to make sure they are happy?

Sometimes a dissatisfied customer will find a new window cleaner and complain to their neighbours and friends about the one who left the smears. We could be replaced as easily. Perhaps we need to slow down and think what we are doing, otherwise we will be in the same boat as the window cleaner.

Competition or attrition?

Blog pix 21 March 11 001I am in a service business. I have all the modern advantages. I can help people all around the world because we have email and the internet. I do not have to meet my clients, although it is great if I can. However, if they are in South Korea or Chile, they are a long way from the UK. If I can check exactly who they are and give them what they need, I am happy and I certainly hope they are happy.

There are people who have businesses on the High Street or in town, and their businesses look something like mine. I do not see them as competitors. I have working relationships with some of them. We can provide each other with skills the other does not have; rather symbiotic.

However, imagine having a business very near another the same where you are competing for the walk-in customer and where the footfall is limited. In the local village, there is a long-established men’s hairdresser, or barber if you prefer. There is the owner, who is the brother of a business acquaintance. He has two very competent assistants, one female and one male. I do not have so much hair these days, but I am quite happy to have such hair as I have cut by any one of the three. It was a good business, quite busy, and open Tuesday to Saturday.

And then…. A year ago another similar business opened directly opposite. That business takes quite a lot of the walk-in trade. Our village is not that big. I doubt there is enough work to go around. Both shops are now open seven days a week, desperately trying to out-do the other. It is a war of attrition as far as I can tell. One is bound to crack. I know the owner of the longer-established business feels under serious pressure, not just because of the new lengthy opening times, but because I see him looking across the road to see how many people are in the other premises.

If I formed a business relying on walk-in trade, I would not set up next to another. I would find a parade or street lacking my sort of business. We have only one greetings card shop. Why would anyone risk setting up another next door? We did have a florist come to our village to compete with a well-established one. They failed and have gone. Why would a men’s hairdresser risk a similar fight? Even if they “won” by putting my preferred place out of business, the fight must make life and cash flow very tough in the short term.

I do not have the answers, but it all seems crazy business planning.

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.