Alone at the top24th July 2019
One of the nicest things about owning your own company?
Being your own boss.
It’s wonderful, isn’t it, when you can set your own hours and there’s no one watching whether you’re coming or going….
When you can do what you want at work, without ever having to justify yourself, or answer to someone else’s priorities….
When you can develop your company in your style, your way, implementing your own vision.
The problem is, all this comes at a cost.
In fact, being your own boss is also one of the worst things about being an entrepreneur!
You see, when you’re all alone at the top….
There is also no one to hold you accountable.
When your priorities get skewed, there is no one to call you on it.
And when you get dragged too far into urgent day-to-day work and neglect the more important job of business development, there’s no one to tell you so.
When things go wrong, you feel isolated.
The pressure can be too much to bear, because there’s no one to share it with.
And it’s too easy for your business to start moving in the wrong direction, because there is no one to discuss your decisions with, and no one to ask you difficult questions.
Unfortunately, so many business owners fall into this trap.
I see it the whole time, when it comes to financial management.
The truth is that’s one part of business that many entrepreneurs just aren’t interested in. You want to serve clients, to build your team – not to deal with numbers.
So all too often, you just don’t think about them.
You make decisions about the future of your business without carefully considering the financial implications. You don’t look at the numbers in detail before deciding when and where to expand….
You don’t insist on receiving regular financial reports…
You might not even be sure exactly how your cash is handled, or whether it’s being handled efficiently and accurately.
And because there’s no one there to force you to look at these crucial issues, that becomes the norm.
The problem, as I’ve said before, is that while small businesses can operate that way, larger ones can’t. It’s too rocky and it’s too easy to make wrong decisions.
If you want to grow beyond £1 million or £2 million turnover - and if you want to build a business which is valuable enough to sell, eventually - you need to run a really smooth operation.
And that means, before anything, making sure you have top-notch financial systems and processes in place.
Successful entrepreneurs make sure they are accountable to someone else.
Even as they value their independence…
….they hire mentors and coaches to share their experience and give them guidance.
Their mentors hold them accountable, too – often just by being there.
They ask questions and point out issues employees might not see, or might not dare point out.
And they keep the entrepreneurs focused on the big business development issues, which really matter.
That’s a large part of what you get when you work with Insight Associates.
You see, we know how difficult it is for you to implement good financial management into your business.
We know it’s not terribly interesting to you…
…And it’s certainly not your expertise.
So we make sure it happens on your behalf.
We put in all the financial systems and processes a much larger company would take for granted, so you can operate on a similar level to them.
Then, once these are in place, we work with you closely, to make sure that you understand the financial information you’re receiving, and use it to make better decisions for your business.
We keep you focused on what really matters –
Thinking about the financial implications of all your moves….
Continually working out how to become more profitable, using real numbers and data (not just gut feeling)….
And making sure that your decisions are affordable, make real financial sense, and help you achieve your business goals.
It can be a big shift in the way you think and work.
It is for most entrepreneurs.
But that’s why you need us, to empower you financially every step of the way.
We are not coaches. But as you can see, we’re not “regular” accountants, either.
Book a call with me today and let’s get started.
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