[Sunday Supplement]: “You could hear it, you could feel it and you could smell it.”

Published: Sun, 04/17/16

Hi

It shouldn't have happened.

Even a very close observer said "I can't explain it. I could explain something logical. That wasn't logical"

And yet it happened.

Afterwards the manager said “You could hear it, you could feel it and you could smell it.”

Last Thursday Liverpool walked through a storm and came back - twice - from two goals behind against one of the top sides in Germany to win 4-3 and make it through to the semi-finals.

It wasn't logical, but it happened.

Afterwards the manager said “Sometimes even when it's not likely you can do it."

And so can you.

Because they believed they could, they showed character, and an energy and conviction took hold. They rose above what was possible and logical; they strived to be the best they could be.

And so can you.

Running your own business isn't easy. It isn't meant to be. The rewards are only achieved by a few. The top 5% who know they too have to walk through a storm and hold their heads up high. Who know that they have to keep going when others give up. To make that extra call, edit that piece of copy one more time, walk the extra mile. They know that success is a choice and to achieve the freedom, flexibility and fun that comes from being a successful entrepreneur involves putting in the hard yards that most won't.

There is a saying: "What would the best in the world do?" Last Thursday Liverpool were amongst the best in the world.

And so can you be.

People ask me “Where should I start?”

Well how about here: successful business owners know there numbers. They just do. So to start with write down (or go and find):
  • Your gross margin on sales and whether this is increasing or declining;
  • Your net profit percentage;
  • Your cash conversion cycle (how long it takes between spending a £1 and earning it back in cash);
  • Your lead to conversion ratio (how many leads it takes to get a new customer).
And work out how you can improve each of those metrics.
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​​​​​​​That’ll be 4 goals to your team.

To your success.

Noel Guilford

Noel Guilford is the principal of Guilford Accounting a small business accountancy practice specialising in advising owner-managed businesses on current accounting, finance, and tax matters. You can reach him via email at noel@guilfordaccounting.co.uk or by phone at 01244 660866. He is the author of the best selling book 'Figure it out - an entrepreneurs guide to understanding your business numbers' which you can obtain by visiting http://guilfordaccounting.co.uk/figureit out. ​​​​​​​​​​​​​​​​​​