In the latest StartUp Studio Insight blog, John Barrow of accountancy experts Azure provides guidance around taking control of your business
Feeling dominated by your business implies the loss of control; thinking that you need to be available to your customers 24/7 and that your team can’t cope without you. It can also lead to a lack of perspective and self-care – thinking that this is just what it’s like to be a business owner and that it’s not something you can change. Maybe Covid had a huge impact on your business and you’re playing catch up.
There are lots of reasons why you feel controlled by your business. In other words, lots of excuses. The OARBED behaviour model tells us we must act above the line; taking Ownership, Accountability and Responsibility for our actions and the choices we make. Feeling controlled by your business is a choice.
So, what can you do to stop feeling this way? How can you get back in control of your business?
First, review and update your processes. If customers are contacting you at all hours, put in place a timeframe for responding, e.g. within 24 hour hours, and communicate this with your customers. If cashflow is an issue, review your payment terms and ensure they’re being enforced.
Next, if you don’t feel like you can trust your team to run your business without you, establish why this is. Do they need more training and support? Have you given them the opportunity to step up and take on more responsibility? Do you need to take on more team members or outsource some tasks?
Whatever your reasons – or excuses – are for feeling controlled by your business, now is the time to reflect on what it is you wanted your business to deliver to you.
Set goals for what you want your business and personal life to look like in 12 months. Break these down into 90 day goals and actions to achieve those goals. Take ownership, accountability and responsibility for regaining control of your business.
Consider the following questions:
- Do you need to start going home on time every night?
- Do you need to stop accepting work from people who don’t respect your payment terms?
- Do you need to block out calendar time to respect your health and wellbeing?
- Do you need to implement 10 strategies to grow your cashflow?
- Do you need to train and empower your team to take on more responsibility?
- Do you need more time to plan?
No more excuses – it’s your business, you make the rules, choose not to be controlled!
Need accountability coaching? We can help you be the master of your business.
“Success isn’t a result of spontaneous combustion. You must set yourself on fire.” – Arnold Glasgow
To learn more about Azure and how they can help your business reach its full potential, go to loveyouraccountants.com/bristol
Find out more about the Tech South West StartUp Studio at techsouthwest.co.uk/startupstudio