Chris Kaday -business adviser and director advises

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of my directors secondhand to say I was ‘gung ho’ in business. I am naturally beautiful bold certainly about production decisions but she meant I was reckless which probably said more about her alarms than bomb. I like to recess easy by night and this method reviewing always possible vulnerabilities and having strategies to neutralise them.
There are many companies out there particularly in the sale services sector which have an customer which accounts because over 50% of their business. They are ordinarily aware of this dependency and will cite the problem in strategy meetings. But I would not rest easy until I have not one customer worth more than 10% of my business which was in truth chapter of my growth tactics.
The same applies to staff. In small companies it is quite possible to have one star whose sales extravaganza accounts for a premonitory percentage of revenues. Reviews focus on keeping this individual cheerful and maintained and there is a constant terror namely he or she will go catching their contribution with them. Now I would certainly encourage and admit the star but largely quit them alone. I would certainly not automatically make them a manager as good salespeople do not necessarily make great managers. In my experience the reverse is true. My strategy would be to put all my efforts into ascertaining and amplifying other staff so my reliance on somebody who is leap to go at some stage is significantly reduced.
Vulnerabilities teem in each business situation, one main supplier, one path to mall,Coach Business Bag, one product,Cheap Coach Diaper Bag, a contract which was refereed in good belief at the time but immediately creates an exposure and so on. I am an support of doing a few entities well preferably than a lot of things badly but vulnerabilities are what used to keep me awake at night. It is no use continually thinking ‘what if?’ when the chances of that exposure arising as a important issue which could threaten the very existence of the business at some time in the future are about certain.
I assume I react adversely to the mind of being dependant on anyone or everything. I don’t consider this is borne out of any insecurity but the need to feel safe if I am investing money in folk premises productions and so on to grow a business. It is prudent to near the gaps. This reach likewise makes the business a really valuable attribute when you come to sell it as no one ambitions to invest in an undertaking which is vulnerable in any esteem.
So have a look approximately your business today. What is your greatest exposure? Where are you most vulnerable? What keeps you {awake|wake up} at night? Maybe it is period to address the issue brain on as there are usually alternatives to anyone position even if they might take some exertion to appliance.
Chris Kaday namely a business coach and mentor with lots of excellent advice ashore growing your business on his site