We were recently approached by a small firm with an under-performing bookkeeper. There were some long-term signs he was not up to the job. His office was full of paper, because he had been doing the accounts on spreadsheets rather than using up-to-date technology. That was quite common a decade ago, but I almost don’t […]
Author archives: servicedemoevolvesites
Rishi’s Financial Secret (and how you can copy it)
During Liz Truss’s premiership, the economy felt like it was on the brink of collapse. The Bank of England had to intervene to stabilise market turbulence, buying up a whopping £65 billion worth of gilts. The pound plunged to frightening lows. Meanwhile, interest rates soared. Then, Rishi Sunak became prime minister. And within hours, the […]
The biggest mistake when preparing for the financial crisis
Perhaps it’s a myth, but I’ve heard there’s an army exercise where recruits are driven miles from their base, dropped off in the middle of the night – and expected to make their own way back. When the cadets open their eyes, they are disorientated. They have no idea where they are, or which direction […]
Terrible financial advice on social media
I’ve come across a lot of advice on social media recently on how businesses can improve their finances during the economic crisis. One expert recommends that you cut back your overheads and pay down debt. Another has 10 ways to keep your energy bill manageable. A third believes you should create alternate revenue streams… It’s […]
This man is the secret to my success…
For nearly a decade, I’ve been working with a business coach. He’s my sounding board. I find it invaluable to discuss challenges in my business with someone who is not emotionally involved. Quiet and serene – unlike me! – I trust him to challenge my thinking and give me unique perspectives, most recently around how […]
Fear
Recently, I’ve been talking to a lot of business owners about how to prepare for our winter of discontent. And while some are doing all the right things – trying to understand the biggest risks they face, planning how to deal with the worst case scenarios and building a war chest… …More people are reacting […]
My counter-intuitive advice for surviving a financial crisis
In the late 1800s, when a storm was approaching, sailors took a special precaution. They spread tarpaulin over openings and then placed wooden strips – called battens – on top of the coverings, to stop them blowing off. This measure was known as “battening down the hatches.” And colloquially, it’s come to mean turning away […]
War Chest
Did you know that a war chest used to be a real, physical object? Soldiers and military leaders kept it in their homes or barracks, to store arms and armour. And when they launched their military campaigns they took it with them, to store spoils which they could spend along the way. The purpose wasn’t […]
What if…?
If you have an IT guy, he’s probably suggested at some point that you do a vulnerability assessment. This is a test the tech guys run on your computers, to figure out where all the holes are… …For example, where a hacker might be able to access data, whether you have passwords that are guessable, […]
This economic crisis might hit harder than 2020. Here’s why
**Remembering Her Majesty Queen Elizabeth II and extending our condolences to the Royal Family – and indeed to the Commonwealth of nations — on her passing.** Nearly three years ago, COVID started spreading, shutting down the world economy. Governments sprung into action, spending billions to prop up failing businesses and to ensure their suddenly unemployed […]
