Small business survival and growth — The Savvy Way

Here at the-Coaching Blog-run by Gerard O’Donovan, our aim is to constantly bring value to those seeking to improve their lives. Therefore we have a policy of publishing articles and materials by guest authors whom we value and appreciate. Today’s guest author is Ian Marshall (United Kingdom).

For many small business owners, growth is a rather elusive concept. For some, it is seen as something that only high-flying entrepreneurs can achieve. For many, if not most, it is viewed as an activity that will consume huge amounts of time and effort and is therefore probably beyond the limited resources of the small business.

Natural instinct

Survival, on the other hand, is a topic very much at the forefront of everyone’s attention. Perhaps this is because it appeals to our more natural tendencies — after all, survival is a primal human instinct. However, taking an approach of doing just enough to keep the business going and earning a basic living inevitably means that most, if not all, attention focuses on the short-term day-to-day stuff — to the exclusion of just about everything else.

I must confess, when I first started out in business, my approach was entirely consistent with this short-term thinking and as a consequence, it eventually dawned on me that my business was going nowhere. In fact, I soon came to realize that because I was not putting any effort to changing things I finished up having to deal with exactly the same grinding problems this month that I’d had to deal with last month…… and the month before that.

It is not just about growth

Having worked with a broad range of small business clients over the years I’ve built up a substantial arsenal of tried, tested and proven systems for business growth. But the interesting point here — and you need to listen up because this is a really interesting point — is that those techniques which promote growth also, and as a natural consequence, strengthen the business, reduce its vulnerability to failure and make life easier for the business owner. Now if you, as a small business owner, can take this on board it can truly change your whole perspective on how you should run your business in the future.

If, for instance, you have a business that’s achieving only very low profits, then most likely your cash flow and personal income won’t be too great either. True if you had more free time you might be able to look at ways to increase your profits — but those low profits mean you can ill afford to employ an extra pair of hands.

Continuing to trade in these circumstances is a constant struggle and what’s more the business, in such a weak financial position, is vulnerable to any sudden turn of events that are outside its control.

But what if you could break out? By committing only a small amount of time each week — just a couple of hours — you can start to test out some of the many tried and proven techniques for improving your profitability. By gradually chipping away at the problem of profitability you automatically provide an opening to resolve cash flow problems and reduce that constant vulnerability.

You really can do this!

There’s a huge repertoire of tools and systems you can bring to bear that can improve performance right across your business. It is also worth noting that this kind of development doesn’t have to soak up huge amounts of your time — you can start improving things at a nice-and-easy, gentle pace and before you know it you’ll be starting to reap the benefits.

If you are seeking to break out and get a better deal for your business and yourself, why not take a look at how you might start making things better?

About Ian Marshall

Ian Marshall is the author of The Savvy Guide to Kick-Starting Your Small Business (Publisher — Panoma Press)

Ian Marshall has worked in accountancy and managerial roles in London and the South East of England for most of his career. Having held senior roles in both large multinational companies and small business he has gradually built up a broad experience of the commercial world and a detailed understanding of what makes businesses tick. Since 2001, he has specialized in helping small businesses to survive and grow through one-to-one consultancy, seminars and regular articles and newsletters. These resources have been aimed at providing savvy advice not otherwise readily available for small business owners and the particular challenges they face.

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