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Draw a Line in the Sand

Tuesday, December 13, 2011   By Mike Reddy


Often our biggest constraint in business is ourselves. We try to personally take on the expensive tasks that would normally need to be outsourced so that we can preserve our cash resources for other needs within the business.

Although there is certain logic to this, the downside is that it means we have created our own artificial ceiling. We have set a limit on our business' ability to succeed that is significantly less than what could be achieved.
When Michael Gerber wrote in his bestseller the E-myth about the need to work ON your business he was referring to work of a strategic nature. He was talking about the need and effectiveness of planning and systemisation.
Doing something that is not of a strategic nature or core to your business because it can't readily be done by a team member is a false economy.

A business manager's time would be better employed doing the things that only they can do. Such things as articulating their vision in a strategic plan so that all stakeholders, team members and suppliers have a clear understanding of what the business is about and where it is going.
Research shows that this applies irrespective of how small or large the business is.

This is the perfect time of year for many businesses to start planning for 2012 (if it hasn't been done already). To draw a line in the sand to determine where your business is today, where you would like it to be this time next year and the action plan (or business plan) that guides you through how to implement the necessary changes in order to make it a reality.

Because we believe this is the most significant obstacle that stops businesses from achieving their goals, we have invested in resources to assist you through this process in a very cost-effective manner. It really is that important to get it right.

Mike Reddy is a Chartered Accountant, business coach and advisor helping businesses in Sydney, Melbourne, Brisbane and Gold Coast to easily increase their profits and cash flow. He is currently President of the North Sydney Chamber of Commerce, a Regional Councillor for Sydney North East and a member of the Institute of Chartered Accountants Sydney leadership team. As well as advising businesses, Mike presents business development seminars and webinars and is regularly contacted by the media to comment on small business matters. You can connect with him on Facebook, Twitter and Google+.