Earlier this week, I asked you about the biggest business lesson you learned during the pandemic. The answers came thick and fast – and the interesting thing was how varied they were! Here’s a sample: “Keep talking to your team, your clients and your suppliers” – Steve “Control over working capital, with prudence around cash …
Author archives: charlie
Your plan for 2021
Do you know your revenue goals for 2021? And do you have a specific plan to reach them – one you’re completely confident about? In normal years, too many businesses would answer “no”. Surveys show that only around a third of business owners ever draw up a formal business plan. When you’ve built up a …
Did I really say that!? (Blush)
Hi, When I look back on this year, the whole Coronavirus crisis still seems surreal. As late as 28 February, I published a piece expressing surprise that a business contact had started stockpiling food. Apparently there was this thing called “Coronavirus”, and she’d seen worrying videos coming out of China! I’m relieved to say I wasn’t …
Soundtrack for Christmas
Every year, I’ve sent out a list of my favourite business books before Christmas… …But the truth is, I like music almost as much as I like reading. Jazz is the soundtrack to my life… And believe it or not, I used to be a mobile DJ! It was a LONG time ago… Back in …
Are you getting enough value from your accountants?
Over the past few years, I’ve frequently talked about companies that don’t produce enough financial information. Today I want to tell you about a company that produced too much… …which is its own kind of nightmare! When a company hits £1 million or £2 million turnover, producing monthly management accounts is normal. This company produced …
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Pivot! Again
When I think back on the past nine months, one image sums the situation for businesses: For those of you who somehow missed the 1990s… …That’s an episode of Friends – the one where Ross, Chandler and Rachel try to get a sofa up some awkward stairs. Ross famously yells: “Pivot!” all the way up. Most of …
Business failure = opportunity
A few years after I passed my driving test, I took my beloved car for its MOT… …I didn’t think there was much life still in it. It felt sluggish, the engine was noisy, and whenever I went above 60 mph, the steering wheel used to shake! I was sure that they’d tell me that …
If your business fails, you could be personally liable
With more than 400 employees, the company seemed established. But the truth was, it was insolvent. That was the conclusion reached by my friend Keith Steven. He’s managing director of the KSA Group, which is expert at turning around distressed businesses. His team had just spent three days at headquarters of this large business, interviewing …
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Is your business worth saving?
It sounded like such great news. Earlier this week, I was talking to my friend Keith Steven, managing director of the KSA Group. He specialises in turning around distressed businesses. Keith told me he’d noticed that business liquidations were down around 40% in recent months. There were a lot less businesses closing than usual! Now, …
You can’t do this yourself
Imagine you decided to get into shape. You read up on how to get physically fit quickly and safely and start training for a marathon. You train in very specific ways, building up your mileage and muscle and developing your running technique. Before you know it, you’ve completed your first couple of races. Not only …
