business focus 17
Chartered accountants Haines Watts presents a series of articles based on its blogs. It offers analysis, reviews and comments and welcomes your feedback at
www.hwca.com/blog
of the month How to find success in business writes Adrian Williams, managing partner at Haines Watts
So what is it that makes a successful business owner manager? Few SMEs have come through the experience of managing a business in the recession unscathed but useful lessons have been learned along the way.
In 2010 we found that the focus of owner managers was on streamlining and making their businesses more efficient to cope with the tough economic environment. The kind of skills and experiences that have been utilised over the past four years can now take them forward as leaner, more effective and commercially-aware enterprises.
To be successful though, businesses can’t stand still. They must adapt from being in
“survival mode” to looking forward to growth. It’s vital to stay ahead of the curve and identify new opportunities.
At a time when the economy and market conditions are changing quickly, businesses must also keep abreast of their customers’ evolving demands, as the economic crisis has made them more discerning. This includes being more flexible and keeping customer service at the heart of their approach, to achieve that important competitive advantage.
It has also never been more important that owner managers take the time to concentrate on strategy and not be all consumed by the handling of daily tasks.
A recent survey undertaken by
Haines Watts* found that many successful business owners are embracing these key issues and their strategies already included:
1 Solving customer problems, not selling services or products to them.
2 Working with clients, not for them.
3 Identifying their team’s core strength and skills and utilising them as a key asset.
4 When at the top, not being afraid to turn to others for advice; using other people’s knowledge and experience as you don’t know it all.
These successful SMEs believe that it’s important to remain fastidious and continue to do the preparation and research that has served them well in leaner times. It’s a lesson all should learn – after all, long-lasting success isn’t down to luck but hard work and careful planning.
For further details on financial matters visit the website.
Details:
www.hwca.com
* Haines Watts ‘Growing a business’ survey
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THE BUSINESS MAGAZINE – THAMES VALLEY – APRIL 2015
www.businessmag.co.uk
JIB216.07.14
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