Burning the candle at both ends – Quality over quantity
Running a business isn’t always easy. But no one ever told you it would be, so you grin and bear it. You work the long nights. You’re up for the early mornings. You do the networking, the paperwork, the meetings, the hiring, the firing, the long conversations with suppliers, the research – the hard work. And, what do you get at the end of all this? Stress, according to a study by Haines Watts. 73% of small business owners report struggling with their mental health.
So, how do you translate this elbow grease into results? If, at the end of the day, you remain as far from your business goals as you were 12 months ago, it might be time to rethink the way you run your business. You are burning the candle at both ends, and for what? It’s time to put quality over quantity and invest in the products and services of your business and build their value. This way, you can get back to doing what you love while nurturing your bottom line.
For many, taking a step back and getting back to the basics of your business might be worrying. What if, when you stop doing so much work, your business crumbles? You miss the odd networking event and great opportunities pass you by, or you start to lose customers as you aren’t churning out new products or services.
Well, we can put your mind at ease, because doing less intensive work doesn’t have to mean your business has to suffer. It actually opens an opportunity for you to not only protect your mental health, but improve the value of your work at the same time. But, to do this, you need to focus on quality, not quantity.
Your time is valuable, invest it wisely
By this we mean that having fewer customers or clients is not a bad thing as it gives you more time to focus on each individual, providing the best possible service, without driving yourself mad.
For example, if you are a freelance accountant with 30 customers, you will struggle to find time for each of them, particularly approaching deadlines. You’ll have no time for yourself and no time to think of anything other than getting those taxes done. You might get the work done, but will the quality be the best in the business? We doubt it.
Compare this to a freelance accountant with 10 separate customers who can give their full attention to each client. Their work will probably be fantastic, and infinitely better than the busy, busy, busy accountant. They will be far less stressed, and they can charge more for their services because the attention to detail they can provide, and the customer care, increases the value of their service.
You might find that working less, but working better, can not only reduce the stress you find yourself under as a business owner, but it can also protect your bottom line.
For more helpful business tips, don’t be afraid to get in touch with Big Hand on 0161 327 2911. And, if you feel like the pressure of being a business director is getting to you, we are always here to lend a helping hand from taking control of your accounting needs or providing you with the best business advice to steer you in the right direction. We are happy to help.