MONEY SHOP
Finance and moralitywith your business dealings!
Financial Plumber, David Gummers advises the key at the end of the financial year is that the bottom line is good. It helps if you run a happy ship, but are prepared to be firm when necessary.
C
ast your minds back to the last century, the majority of bosses came from the Alan Sugar school of business. The way to be successful was to be utterly ruthless and at times downright rude and nasty. Yes, it is
important to drive a hard bargain as I have said in previous articles. I do firmly believe that generally you achieve more by being calm and measured than being like the proverbial firework. It is very important to remember that the ethos of the company comes from the top, so if the boss is always bad-tempered and irrational, this will filter down through to the line managers and the rest of the staff.
I am in no way suggesting that everything should stop for strawberries
and cream, but it is easier for a business to operate if the team are happy in their work. You will find that there will be fewer absentees and “duvet” days! There will be times that a member of staff will not be happy with you, but the respect (which must be earned) comes from the consistency of decision making and the track record that most decisions you make are right. I have yet to meet anyone who gets everything right (alas, not even me). If you do make a mistake, then admit it, and work out the best way to solve it. Blame culture businesses certainly do not do as well financially as everyone is covering their back.
There are times of course when you have to make people redundant.
These come into two main categories. Obviously, if there has been gross incompetence or theft etc., then you just have to do the necessary in a firm matter of fact way, and you ask the person to leave immediately.
If, however, as is more normal the redundancy is because of cut backs, I think it is very important to treat the individual with dignity and respect. I would not say to an employee that after a long service 7 years or more that you cannot clear your desk, and say “Goodbye” to their colleagues. People would not behave towards people in that way in their personal life (or maybe they do!) so it astonishes me that people do it in their business persona!
Everything you do in business reflects well or badly on the business.
My father always said that the business cannot speak for itself so you are speaking on its behalf. If you behave badly it is the business that is being tarnished. I find with the shoe on the other foot so to speak, the places that I enjoy spending my money are the ones that I feel I am being treated well and do not even feel I am spending! This is difficult to achieve, but it is done by good training empowering your team to do the job.
Yes, to advise when you think something could be done better. It is also
worth listening to your staff as they after all are dealing with the customers on a daily basis. As I said earlier I do not think the office should be a holiday camp, but neither should it be a prison! Many people may think that this has very little to do with the success of a business-I strongly disagree.
It is very rare that an employee will come to work and think how can I muck up to-day. There are people that need cajoling, but, generally, most do as a good a job as they can.
The key at the end of the financial year is that the bottom line is good. It helps if you run a happy ship, but are prepared to be firm when necessary.
A final thought when you look with an objective eye at your business - is it a business that you would want to be a customer. If it is you probably have the ethos right, if it isn’t it is likely that your customers and staff feel the same way.
If you would like David to look at your business costs, he promises that if he cannot save you any money you pay him nothing. But for every pound he saves you pay him, 15 pence. If you want to learn more email David on david@fdickinsonfootwear
Website: http://www.fdickinsonfootwear 20 • FOOTWEAR TODAY • AUGUST 2013
.co.uk or call 01229 580654
.co.uk/
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