Q How important is punctuality? I notice that in other countries, such as Italy, a more relaxed approach is taken in the workplace. Are we too hung up about turning up on time?
A I cannot emphasise how strongly I feel about this issue. People should be punctual and I always make every effort to be on time myself. What is the point of making an appointment at 3pm if you are not going to turn up until 4pm? My time is valuable, and appointments allow me to make as much of my time in the office as I can. People who arrive late to meet me without a 100 per cent cast-iron reason are already lowered in my estimations.
Q I was wondering what you think of the idea of starting a wedding business with my family. We are planning to buy or maybe even construct a building to be the ideal location to hold a wedding reception. It will cater for the happy couple's every need - organising every detail, including food and flowers and entertainment, so it's as traditional or as wacky as they want. We are all very talented and creative people. What kind of advice could you give?
A My first question back to you is have you researched your market? What makes your wedding reception location different to all the other hotels, village halls or golf clubs on offer? I would suggest you focus on your key selling point, which is the bespoke nature of your service. The biggest piece of advice I would give is make sure that your family can work together. Remember, you can choose your employees, but you can't choose your family. It has to be made clear who will be responsible for what, and who will answer to whom. This is a business, not a home. I am sure that, on many occasions, family relationships have been strained because business issues took precedence over the well-being of family relationships, or family relationships impaired the profitability of the company. Address this issue in the open with everyone from your family who wants to be part of the business. If there is a family member not participating, but who influences the actions of someone in the family who is involved, then include that member in this very important first-step discussion.
If all goes well, then proceed to the next step, which is the planning. It is good that you all enjoy the nature of the desired business, but do the planning to make sure, as I said, you have a market that can sustain your business. Also, ensure that all family members participating in the business become active in developing the business plan. This way there will be no surprises, and those no longer desiring to participate can get out before the doors open.
Q A war is 'brewing' over tea and coffee making in my business. We are quite a small team, with little admin support to make tea and coffee - not just for staff, but for visiting customers too. It is getting to the stage where some people are always making tea and washing up, whereas others are not bothered. I don't want to be draconian and start introducing rotas, but not only are we losing man-hours while the kettle boils and the milk is poured, but some staff members are getting disgruntled. It sounds petty, but conflict is boiling, as it were. What would you do?
A The making of tea and coffee certainly seems to become an issue in many offices, but not in mine. We all tend to make our own - even me - and clear up after ourselves. If someone shouts on your way to the kitchen "make me a cuppa", then do so and you will probably find they'll make you one next time. Our kitchen is always spick and span and, as such, people tend to keep it that way. The best sign I have seen in a kitchen area was "Please tidy up after use - your mother doesn't live here". If you make the making of tea and coffee an issue, then it tends to become one.
Q Having watched you on the TV show Dragons' Den, I thought you might be able to help me with some advice. I'm a college student and I would like to know the risks I might encounter as a small business entrepreneur. I want to go into the bicycle and bicycle parts market and run my own workshop and retail store.
A Being an entrepreneur is very much about your character. Are you bold, willing to take risks to make your business a success? Your question itself worries me. An entrepreneur doesn't ask what the risks are, they overcome the hurdles placed in front of them through determination and innovation. You don't have to have an original idea - just do it differently and, more importantly, better than your competitors. To succeed as an entrepreneur, you will need to be a disciplined self-starter, who has the ability to handle multiple tasks at the same time. Your business idea has two arms to it - the retail and repair. You can't do both at the same time, but you will need to know what is happening in both, so prioritise what is important. To answer your question, the greatest risk will be to lose money and not be able to pay your creditors back. Do your planning very carefully and build a reputation for fantastic customer service, excellent repair service and fair pricing. And remember - make the customer happy. Repeat business is the most reliable business.
Published: ??/??/2004
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