Are You Having A Proper Holiday This Summer?
If not, then your business may be underperforming ...
POSTED BY JONATHAN VOWLES ON 17/07/2018 @ 8:00AM
The summer holiday season is about to start and I wonder how many small business owners are going to take advantage of it? I frequently come across business owners who haven't had a proper holiday for years ...
If you're not getting a proper holiday this summer, then your business may be underperforming!
copyright: serrnovik / 123rf stock photo
They cite a variety of reasons, including too busy, wrong time of year, can't afford it can't afford to take the time off ... the list of excuses can keep going! But the important question to ask is not what reason did you give not to go on holiday, but what is the true reason for not going on holiday?
The true reason is more often to be found in the business and the business owner itself ... the business is underperforming and is not structured in a form that allows for holidays!
If you didn't take a holiday last year, then ask yourself (and perhaps, more importantly, your family) if you and they would like one, or maybe two or three, each year. If you wanted a holiday but didn't take one, then that is all the evidence you need to prove that your business is underperforming.
More importantly, it is time to do something about it. You may be dissatisfied with your business in other ways, and let's face it there are many more ways of realising that your business is underperforming than not taking a holiday.
If your business is underperforming then you should look critically at it. Not at what the business does but at the way it does it, and identify how you are going to make it perform better. Now, it is really easy to give such glib advice such as 'look critically at your business', but it is a lot harder to do than most people realise.
Most business owners are too close to the wood to see the trees and that is where another person comes in handy. Somebody who will look critically at your business, who will help you take off the rose-tinted spectacles and see your business objectively.
"Even a sole trader without any staff can take regular holidays; my milkman certainly does!"
So, if you haven't organised a holiday this Summer, ask yourself why? Why is your business underperforming? It might not appear to be underperforming in sales and profit terms, but if you can't have a summer holiday, then it is certainly underperforming when compared against my milkman.
The first step on the road to a better business is to critically review it. How much do you charge, what are your costs, how long does it take, how many customers do you have? Your review should identify the areas of weakness and what you need to do to fix it.
The next step on the road to a better performing business is to ask for help. Ask your accountant, a consultant, ask your friends, but do get someone to look at what and how your business does. They should identify what things need changing.
"Would you like to know more?"
If you'd like to take a proper holiday this summer then do give me a call on 01234 752 566 or click here to ping me an email and let's see how I can help you.
Until next time ...
More about Jonathan Vowles ...
I've been an accountant in and for business since 1987 and have a wide experience of consultancy, audit, accounts, taxation and wealth planning work from individuals and small businesses to multinational corporations and charities.
My eclectic interests in growing and developing business span a number of areas, which can be summarised as strategic business advice and tax saving advice.
I have worked with the Chamber of Commerce to deliver courses for people about starting up in business and have lectured about tax for a major accountancy practice and for Milton Keynes College.
I relax by reading fiction and by getting away from the office in a campervan.
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