Don’t Let Procrastination.. 1 Successful Business Owners ... · becomes procrastination, and...

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Autumn 2016 Business Builder FORUM Expect the unexpected… Secondly, lists have a tendency to grow. Unless you happen to work in a box with no access to the internet and are completely free from the possibility of visitors, or any sort of human contact, it is pretty certain that someone will ask you to do something else. Everyone has their own goals and the interactive world that we live in today means that agendas interrelate and overlap constantly. So at some point in your day, an email or text will arrive, or someone will pop their head through the door and say, “could you just…” Don’t Let Procrastination Steal Your Destination The Summer is now well and truly over; and what a fine one it turned out to be in the end. Think back for a moment on all the things that you planned to do as the warmer months started, then compare that to what you actually did. Now, go back even further to the list of New Year’s resolutions that you set and, likewise, make a mental note of any that fell quickly by the wayside. The reason most of these intentions failed is because they never got started! There were always other things to do: and therein lies the problem. One of the first things people teach you on time management courses is to make a list. Now, I am not about to tell you to stop doing that, but I would like to point out some of the destination-limiting problems with list-making. There is always more to do… The first one is that psychologically you will never be quite satisfied with your day unless you have completed all of the tasks on your list. And we all know that is rarely likely to happen. By its very nature, a to-do list is almost always bigger than the reality it is supposed to quantify. So if you do make a list of things that you intend to do on any given day, remember the golden rule: Make it achievable! INSIDE THIS ISSUE Don’t Let Procrastination.. 1 Successful Business Owners Are.. 2 The Taste Of Sicily 3 Featured Add-On 5 Musings Of The Millionaires 5 Michelin Star Accountants 6 The World’s Biggest Coffee Morn.. 7 Did You Know? 8 Eat That Frog By Brian Tracy 8

Transcript of Don’t Let Procrastination.. 1 Successful Business Owners ... · becomes procrastination, and...

Page 1: Don’t Let Procrastination.. 1 Successful Business Owners ... · becomes procrastination, and procrastination will eventually rob you of the satisfaction of reaching a rewarding

Autumn 2016

Business Builder

FORUM

Expect the unexpected…

Secondly, lists have a tendency to grow. Unless you happen to work in a box with no access to the internet and are completely free from the possibility of visitors, or any sort of human contact, it is pretty certain that someone will ask you to do something else. Everyone has their own goals and the interactive world that we live in today means that agendas interrelate and overlap constantly. So at some point in your day, an email or text will arrive, or someone will pop their head through the door and say, “could you just…”

Don’t Let Procrastination Steal Your DestinationThe Summer is now well and truly over; and what a fine one it turned out to be in the end. Think back for a moment on all the things that you planned to do as the warmer months started, then compare that to what you actually did. Now, go back even further to the list of New Year’s resolutions that you set and, likewise, make a mental note of any that fell quickly by the wayside.

The reason most of these intentions failed is because they never got started! There were always other things to do: and therein lies the problem. One of the first things people teach you on time management courses is to make a list. Now, I am not about to tell you to stop doing that, but I would like to point out some of the destination-limiting problems with list-making.

There is always more to do…

The first one is that psychologically you will never be quite satisfied with your day unless you have completed all of the tasks on your list. And we all know that is rarely likely to happen. By its very nature, a to-do list is almost always bigger than the reality it is supposed to quantify. So if you do make a list of things that you intend to do on any given day, remember the golden rule: Make it achievable!

INSIDE THIS ISSUEDon’t Let Procrastination.. 1Successful Business Owners Are.. 2The Taste Of Sicily 3Featured Add-On 5Musings Of The Millionaires 5Michelin Star Accountants 6The World’s Biggest Coffee Morn.. 7Did You Know? 8Eat That Frog By Brian Tracy 8

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Successful Business Owners Are…People who recognise that a close-knit, well managed and highly motivated team (of average ability) usually outperforms a group of disinterested, uncooperative (but highly talented) individuals. History teaches us this principle time and time again. Battles have been won, great causes upheld and unbelievable sporting achievements secured based on the principle of teamwork over talent.

“Treat your men as you would your own beloved sons: and they will follow you into the deepest valley.” Sun Tzu, The Art of War

Motivation by delegation: People will never feel part of the team until they start playing their part. I have found that my team love taking on responsibility and making a difference. So I let them.

Motivation by engagement: Your goals, team vision and desire to motivate the people is only as good as your ability to communicate those messages. That means being part of the team, listening, responding, encouraging feedback, being honest and keeping involved.

Motivation by reward: Rewarding team performance is always a great way to inspire team results. That way each individual works hard for themselves, their teammates, your customers, their boss (you), and the business.

Cherry picking is easy…

Now we are beginning to close in on the major problem with working to a list. Most people are not disciplined enough to start the most challenging things, when there are easier tasks at hand. It is too easy, enticingly so in all honestly, to do the simple, enjoyable or at the very least palatable ones. So that is how most people treat their list: and the big ideas, ambitions and breaking new ground ‘first steps’ are perpetually pushed onto tomorrow’s list.

Don’t wait for the New Year to arrive!

The point here is two-fold. Make a list by all means. It will give you the clarity to see all your intended actions for the day written down, and ensure that nothing gets forgotten. But be absolutely sure to make your list in order of priority. Do the most important thing (the thing which moves you towards your greater goals or will make the biggest difference to your day) first. Just make a start and do it!

The second point is that the longer you look at a challenging first step, the more difficult it becomes to get started. Putting off, soon becomes procrastination, and procrastination will eventually rob you of the satisfaction of reaching a rewarding destination. Today is a new day. Waiting for milestones like ‘new years’ or other anniversaries is another form of procrastination. Decide on a goal today, put the first step at the top of your list today, and take the first step today.

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losing money, customers were unhappy, and other problems were coming to light each day. Oh, and as two 18-year-old boys, straight out of school, with no management experience, and barely a smattering of English between them, they already felt a little out of their depth.

The positives, because that is the theme of this story, were that Italian food was in their blood. Continuing the legacy that started in a small olive producing region of Sicily over a hundred years ago, the boys were the fourth generation of the Diforti family working in the business. And there was no way it was going to fail on their watch!

Great products and true passion still need managing!

Reacting to a small, but growing demand for export into the UK, Carlo and Andrea’s father had set up an office in Hertfordshire in 1999, with the intention of building the business here. The product was good enough that it sold well, and attracted new customers organically. But circumstances drew him away, leaving the business in the hands of people who didn’t care: and his absence soon started to take its toll.

That is when bravery stepped up to the mark, and the boys arrived to make sweeping changes, take control and start to apply the principles that had been fundamental to the Diforti history.

Over the next five or six years, they set about steadying the ship, delivering great service worthy of the quality of the food, and attracting new customers. It was very much a case of learning as you go: the language, culture, business processes, suppliers, customers and management.

Bravery in business is one of the key attributes which determine ultimate achievement. A close second, perhaps even an integral part of the same attribute, is having passion and love for the cause you are fighting. Add to this a desire to work hard, a dash of Sicilian blood and four generations of quality Mediterranean food, and you have a recipe for success. Or at least you’d think so!

The right mindset at the wrong place and time…

When Carlo and Andrea Diforti arrived in this country in 2005 to take over the struggling UK branch of their father’s business, there was more against them than for them. The business was being run by Directors they didn’t know, it was

Bringing The Taste Of Sicily To The UK

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Brave decisions and bold steps forward.

One of the key lessons those first five years in business taught the young Diforti brothers was that you need good support around you. Having passion and work ethic in abundance was good, having a premium, authentic, much-loved product behind you was reassuring; but to take big, bold steps needed a little more.

It is important to remember that the story so far takes place against a backdrop of financial doom and gloom across Europe. So there was little optimism in the markets and, as any small business owner will know, the banks were not offering much support. Customers were tightening purses, delivery was expensive, 3rd party suppliers kept pushing for margins and everything else was just as tight.

So they decided to sack their accountant… In stepped Paul Meades around 2011 and, while he couldn’t lay claim to turning the tide completely for the business, his input is certainly one example of where good external support helps. In business, you simply cannot go it alone and make the right decisions all of the time.

You too can enjoy the taste of success and Sicily!

The business has become an unequivocal success story, particularly in recent years, and the brothers put it down to three things: Passion, hard work, and great support. In 2015 they doubled their turnover against the previous year and in 2016 it looks like it will end up being another 50% higher again. Doing things the right way works!

Until recently the business had just sold its authentic flavours and quality produce to wholesalers, retailers, restaurants, hotels and delicatessens. But the great news is that you can now buy from them direct. They have just launched a user-friendly website for consumers where you can bring the taste of Sicily into your own home.

Check out two businesses here: www.diforti.comwww.tasteofsicily.co.uk

(If you would like to feature your business in this newsletter, please get in touch with Paul Meades)

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Featured Add-on

This issue’s Xero friendly add-on is AutoEntry. Designed to speed up data entry for your invoices, receipts and statements; it captures the relevant information and seamlessly integrates with your Xero account.

Advanced data capture technology accurately records the information (scanned, emailed, or snapped on your phone) and uploads your financial data in moments.

Accuracy Verified Extraction: never make another mistake in data entry

Smart Analysis: learning as it goes, AutoEntry gets faster every time you enter some data

Data Security: SSL encryption and much more: makes it seriously super secure

Collaborative Workflow: your team, our team and anyone else who matters working together

Document Storage: store all of your data, safely, for as long as you need it

Ask us about AutoEntry or find out more here: www.autoentry.com

Musings Of The Millionaires…

Designed To MakeYour Life Easier

“Victory is sweetest when you’ve known defeat” Victor Forbes

“Money and success don’t change people; they merely amplify what is already there” Will Smith

“Learn how to be happy with what you have while you pursue all that you want” Jim Rohn

“The investor of today does not profit from yesterday’s growth” Warren Buffett

“To succeed you have to believe in something with such a passion that it becomes a reality”Anita Roddick

“Do not be embarrassed by your failures, learn from them and start again” Richard Branson

“Rich people are committed to being rich – poor people want to be rich” T Harv Eker

“If you don’t build your dream, someone will hire you to build theirs” Unknown (but probably a millionaire)

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A very good restaurant in its category Excellent cooking, worth a detour Exceptional cuisine, worth a special

journey

The actual judging criteria (probably a lot more stringent that those early days) and the reviewers themselves remain as mysterious and undisclosed as the SAS.

Meades goes for the Michelin standard

In the same way that Michelin has created the ultimate benchmark in fine dining, all around the world, AVN is doing the same for accountancy practices in the UK. Its aim is to collect together knowledge and experience, combined with best practice and the latest in technology to set a premium standard for accountants. That way, small businesses everywhere will be able to choose with confidence, a financial professional to help direct their journey.

AVN has now released its first AVN Guide: The Business Owner’s Guide to the UK’s Best Accountancy Practices.

As one of only two Hertfordshire based accountants to make it into the guide, we are of course over the moon. It has put our name on the map, and the whole team is immensely proud of this recognition. We might even go and book somewhere really posh to eat out, by way of celebration.

Michelin Star Accountants

It seems like an unlikely pairing to have the world’s finest chef’s and their restaurants defined and rated by a tyre company. Yet, the story of today’s most prestigious food award is a straightforward and remarkably logical one which grew out of a clever marketing strategy over a hundred years ago.

Back in the early 1900s, when privately owned cars were few and far between, suppliers to the automobile industry were in a time of continual flux. Able to charge a premium for their products but restricted by the demand, French tyre manufacturer, Michelin, embarked on a sneaky mission to encourage car owners to start exploring the road network.

Drive, discover, eat and change tyres…

They launched a travel guide (like an early TripAdvisor) full of useful information like maps, locations of hotels, mechanics, petrol stations, route highlights and other places of interest. Given out free, and in its tens of thousands, the guide was designed to attract more people to the joys of motoring, while giving car owners the confidence to take longer journeys. The result: higher tyre sales!

Note: There is a great marketing lesson here. What complimentary activity could you encourage that would have a positive knock-on effect for your business?

Who dares wins!

Between 1926 and 1936, a system was devised for ranking the quality of food served in various restaurants and hotels listed in the guides. (By this time the company was publishing guides all over Europe and beyond.) The description of those early Michelin Stars has remained pretty much the same from that day to this:

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The World’s Biggest Coffee Morning!On Friday 30th September, Meades & Co were part of MacMillan Cancer Support’s ‘World’s Biggest Coffee Morning.’ It was an idea put forward by the team’s newest member, Natasha Fields (Client Manager), and embraced by everyone. The idea was to raise awareness and add a little bit to the pot to support the amazing work done by the Trust.

Sadly, Natasha lost her Mum to cancer five years ago, so it is a cause close to her heart: and everyone else involved also had a story to share of a loved one similarly afflicted.

The sweet taste of success

In just one hour, filled with fun, games, chat, and cake, the team managed to raise £74.15 amongst themselves. The activities included a ‘guess how many spots on the cake’ competition won by Beccy, the Big Cake-Off, won by Jo and lots of cake testing.

It was sweet to see how willing everyone was to put their waistlines to the test so selflessly by over-indulging in sugar-coated bliss. A heroic effort which deserves to be applauded (and repeated next year)!

Support Macmillan

If you were unaware of Macmillan’s annual coffee mornings why not book it into your diary for 2017. Launched in 1990, the Macmillan Coffee Mornings have raised £138 million (before this year total was added), and are critical to keeping the organisation alive. Why not commit to running one in your office next year, or sooner?

Alternatively, if you ask nicely (and bring cake), we might let you come along to our next one.

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Meades & Company 39 The Metro Centre Tolpits Lane Watford Hertfordshire WD18 9SBNewsletter design by [email protected]

The information in this newsletter is intended for guidance only. It is based upon Meades & Co’ understanding of current legislation and is correct at the time of going to press. Meades & Co would always recommend you contact

of the information detailed in this newsletter.

CONTACT01923 [email protected]

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Did You Know? Business Book ReviewEat That Frog by Brian TracyOne of the best, if not certainly the most influential, business books ever written: Michael Gerber’s E-Myth examines the secrets to small business success:

This is one of the best books out there on the mysterious art of time management, or more specifically ‘priority’ management. It is both entertaining and challenging and contains many practical and easy to implement suggestions for improving effectiveness and achieving your goals. In particular, it focuses on dealing with procrastination and how to eliminate its effects when completing key tasks.

The title of the book is inspired by Mark Twain who once said that if you start the day by eating a live frog, you will have the satisfaction of knowing that would probably be the worst thing you would do that day. The frog is a metaphor for your biggest and most important task. As the author delves beneath the psychology of procrastination he teaches readers how to develop the habit of starting and completing important tasks.

He hits home the principle that there is never enough time to do everything we plan to do, but there will always be enough time to complete the important tasks. He provides practical, proven insights and techniques to help readers set clear priorities and implement plans to achieve them. Most of all the book is delivered in an easy to consume (one mouthful at a time) format that makes sense in the real world.

There are 21 Chapters, each dealing with a specific element of frog-eating (overcoming procrastination) and a concise summary at the end.

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Four is the only number that has the same amount of letters as its value

There are 43 quintillion possible starting positions for a Rubik’s Cube

Pi (3.14 and so on) can’t be expressed as a fraction: making it an irrational number

The equals sign was invented in 1557 by Welsh mathematician Robert Recorde

The term “jiffy” is an actual unit of time: 1/100th of a second

Google’s name came from a misspelling of the number ‘googol’ (one followed by a hundred zeros)

A fear of the number 13 is called ‘triskaidekaphobia’