When I worked in other people's finance departments I thought I knew everything about business. When I set up my own consultancy business nearly 10 years ago, there was no stopping me. Some lessons can only be learned the hard way. I thought it might be worth picking out the areas where my thinking has changed dramatically in the last 10 years.
All of the lessons below have been learned since I set out into the wild world of business as that fresh-faced, and incredibly naive, 30 year-old. Education can be very expensive!
I will elaborate on some of them in future posts but for now I just want to put them out there and see what others think - particularly those still working in finance departments.
Lessons I didn't learn until I ran my own business:
- The salesmen and women were right. Sales must come first.
- Flexibility is far more valuable than you think.
- It's not about how you look - it's about what you do.
- Cash flow and profitability must come before any other ambition you have for the business.
- Never mistake an overhead for a sign of success.
If you enjoyed this post, go to the top left corner of the blog, where you can subscribe for regular updates and your free report.
About Glen Feechan
Chartered Accountant with extensive experience in management reporting, Microsoft Excel and business process improvement.
Also runs a spreadsheet development business at http://www.needaspreadsheet.com.
Provides consulting on the above specialisms as well as providing cost savings to clients at no cost.
Editor and chief contributor to Not Just Numbers Ezine - The ezine for those who know it's not just about the numbers.
Cost Saving for SMEs, Overhead reduction, Excel, Management Reporting, Process Improvement, PISO.