How Difficult Is It To Run A Business?
Many people run successful businesses with few or no qualifications and so it got me thinking – How difficult is it to run a business?
If you look at all the management books, videos, courses and all the other material out there you would assume it’s very difficult. The very least you need is a qualification in accountancy, a PhD in marketing and an MBA. So how come so many of the most successful business people you can name don’t have any of these? The answer is simple: all of these things qualify you to work in a business – not to run one.
Running a successful business requires just one thing – Free Cash Flow. Put simply, money in must be equal to or exceed money out. If you have that you have a successful business. Too little cash and you die, too much and you stagnate. SIMPLE!!!
How you achieve this is more complex and we will continue to discuss how you do that through the blogs and vlogs on this site and on my YouTube channel but for now – that’s it.
Instead of having really complicated reporting structures just start with cash in and cash out and you will not go far wrong.
Bees have cracked it. Pollen is the life blood of the colony (just like cash for a business). Too little and the hive will be unable to sustain itself, too much and the colony has wasted effort collecting something that will rot and damage the colony. Be like a bee and spend time planning your pollen (cash) situation and you will find that it is time well spent.
If you want to look at this further we have both manufacturing and service simulations to enable everyone to be more effective. Please contact us for details – https://www.wellsassoc.co.uk/contact/.
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