QUESTION is around business advisers. I am a very small start-up and I have so many questions around managing my business, cash flow issues and planning. Unfortunately I just don't feel like I can afford to find someone to help me. Between my accountant, my solicitor and my small staff, I'm just about tapped out. What do you think I should do?
BUSINESS isn't just about the end result. It's about the process, the successes and the failures, and most importantly, the lessons learnt.
That's why you as the business owner have to have someone who's going to ask the tough questions - someone who will give you a shake when things aren't going to plan.
You need a person who's going to dig deep, challenge your decisions and make you think as much about the possible setbacks as you will about the potential wins.
When it comes to having a business adviser, you need to have someone you can trust and someone whose opinion you respect. If you don't, you're never going to get the answers you're looking for.
You say you have an accountant and a solicitor who you're already using for your business.
Those are two people that usually make excellent professional mentors because they've been there and done that and they can often recognise the point in time when you need to pull the plug or seriously consider making a change.
Having an adviser doesn't always mean having the most expensive, well-known expert. It's about having someone with expertise who can look at your business with a clear, unemotional head.
That person can be a professional, a friend or even your partner - just so long as it's someone who has business management experience and will kick you in the pants when you need it.
You already have the resources around you, so make sure you're using them to build your business effectively.
I OWN a small travel company aimed at helping people in their 20s and 30s plan the perfect holiday. The company has been growing slowly but since the beginning I have always had trouble finding and retaining staff.
My business definitely has a laid-back, fun feel and that's how it should be. The problem though is that the people who want to work for me have that same carefree, casual frame of mind. I need staff who are serious about working hard for our clients to give them an experience they'll never forget.
Do you have any advice on finding, and keeping the right people?
HUMAN capital is critical in every business, whether you're operating a comic book store or an accounting firm. The key for you is to establish your expectations for your employees starting from the interview process.
When you're building a business, the most important thing you can do is communicate your philosophy and constantly remind your staff why they are getting out of bed every day.
The best businesses are the ones who make their entire team feel like they are an integral part of the success of the company.
I'm sure your staff can relate to your business because they're probably thinking about or planning their own dream holiday nearly every day.
So, if you're clear on what you want from your employees, and you continue to communicate the importance of their roles, you'll be able to create a culture that makes people feel like they have a real purpose in your business - and you simply can't put a dollar value on that.
Mark Bouris is executive chairman of wealth management company Yellow Brick Road. His advice here is intended as guidance only.
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