The distinction between working 'in' and working 'on' your business is one that most business owners recognise. And the related advice that, as leaders, we should spend more time working on our business is also widely accepted. But how exactly can we turn those good intentions into action?
That was the question addressed by Michael Gerber, the American business guru mostly closely associated with the idea of working on your business,during his recent seminar tour of the UK. The key learning points from the seminar were:
* Entrepreneurs should concentrate on seizing opportunities, and let their managers worry about how to solve problems.
* The entrepreneur's product is not what the business happens to sell,it is the business itself.
* The role of an entrepreneur isn't to merely change his or her business - it is to transform it. Change is still connected to the past. Transformation leaps out of the past into the unknown.
* To help them with this transformation process, entrepreneurs should follow the example of Walt Disney by creating a 'dreaming room'. A room where there are no rules. A room where they spend at least 10 minutes a day thinking about the future, not the past.
* Ultimately there is no difference between a small business and a big business: a big business is just a small business that has done all the right things.
We have developed a series of tools and resources to help you work ON your business. Ask me for details.
Year end tax planning
Now is the best time to review some tax planning opportunities with you.Making plans before the tax year-end may often prevent allowances and reliefs from being wasted! Please call me on 01624 611108 or email me at lthompson@thompsons-cas.com if you would like me to carry out a review of any tax planning opportunities before the tax year-end.
Anyway, I hope this has given you some food for thought. I'll be back in touch soon with more ProActivity ideas that I think you'll find just as interesting.
Best wishes
Liam Thompson
PS And finally, I thought I'd share with you a couple of quotes that I came across recently that I thought you would like:
If you don't know where you are going, how can you expect to get there? Basil Walsh
The people who succeed in business do so not because of what they know, but because of their insatiable need to know more. Michael Gerber
PPS Need a VAT calculator then click on the link below:
VAT Calculator - Thompsons The Accountants
