My top tips for businesses in 2014

A rather belated Happy New Year to our clients and partners. We enter 2014 in fantastic shape and lots of energy and determination to make this another great year.

I was recently asked by a business journalist for my top tips for any Managing Director with aspirations for growth in 2014 so I thought that I would share these with you in my first blog of the year.

So, here we go, below are my tips for a fantastic year and hopefully lots of growth:

  • Surround yourself with good people. It’s impossible to do this on your own and you’ll need the support and help of a team that have bought into you, your culture and your vision. If you haven’t got enough quality around you, your already difficult job will be impossible.
  • Get yourself a mentor or coach. Everyone needs pushing and having some people to turn to for advice, support and encouragement is crucial. I have a wonderful business coach who I see regularly but I also have a group of people that I consider as ‘mentors’ for when I need some help. It’s great to share problems and get another person’s view.
  • Be happy in your private life. My first tip above goes for your personal life as well so make sure that your wife/husband are aware of what you are trying to do and why the long hours are so necessary! Some years back, over lunch with the impressive CEO of a large multi-national business, he mentioned something that has stuck with me; “I may be the CEO at work but my wife is the CEO at home and I couldn’t do this without her.”  You may, or may not agree, but it was an interesting point and in my mind, shouldn’t be under-estimated.
  • Employee engagement is crucial. Your team must buy in to your vision and what you are trying to achieve. It is essential that your team are aware of your plans for the future; stability is important to people so make sure that you talk about your plans in an open and constructive environment where you encourage feedback.
  • Watch your cash flow. A strong cash balance puts you in a great, secure position, particularly if credit periods are being stretched by your clients or customers.
  • Find a proactive bank. Despite the negative press, some of the banks are ‘open for business’ and there are some lesser known banks that are very proactive at present. Having a bank manager that is switched on to your business and your industry is vital.
  • Have a great group of loyal suppliers. You’ll need them so make sure that you have a group of suppliers that provide fantastic service and are good value.

I hope that these tips help and I wish you every success for the year ahead!

Best wishes

Author: Paul Macbeth | January 27th, 2014

Contact the author

Paul Macbeth
Get in touch:   Reading: 0118 916 5480   London: 020 7036 8767   info@macbeths.co.uk