What do you need to learn to run a successful, multi-million pound business?

Firstly, it’s about the work of the business – most business owners I speak to are already very clear on this. Especially if they’re the 1 in 3 that has managed to survive longer than 5 years.

But once you know how to do what you do really well and make money from it, what’s next?

Well in no particular order (apart from the first one) here’s a few suggestions:

  1. Financial management – P&L, Pricing and Margins, Cash Flow and Debtor Management as a minimum. Ideally balance sheet and reporting too.
  2. Business planning – in a simple, concise, communicable format that clearly shows where your business is now, where you want to go and how you’re going to get there.
  3. Resource management – good business is all about the intelligent allocation of scarce resource. This is the bit that also stops you becoming reliant on one or a handful or individuals (yourself included).
  4. Marketing and sales – build a robust, reliable way of scaling with the right customers at a rate you can handle.
  5. Systems so you get it right first time, every time, in a consistent quality driven way. We call this “How We Do Things Round Here” and most good businesses know what this should look like but struggle to deliver it consistently.
  6. Recruitment, team management, development and succession capabilities. In the early days, the first two are the most important but number three catches up very quickly.
  7. How to ensure the business can run without you. Otherwise, you’re going to be the bottleneck to your own ambitions.

You’ll find many sources of learning and development from courses to peer groups to 3rd party trainers.

In South Yorkshire, Skills Bank is very good and depending on which area you’re in, all of the local councils have business improvement support services.

Business Doncaster, RiDO, Sheffield City Region, all three Chambers of Commerce and Enterprising Barnsley have free to access and paid services you can engage.

You’ll also find some free and paid resources on our website including videos, articles and workshops.

Also, if you’d like to explore the possibility of working with us to accelerate your own learning and your business’ development, you can schedule an introductory call here or email us on markperry@actioncoach.com. 

And whichever way you choose to learn and develop, it’s much more enjoyable (and profitable) to get the learning just before you need it rather than just after…

Why not come along to one of our business training workshops – Upcoming Events

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