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Are You Working On or For Your Business?

Are You Working On or For Your Business?
Tuesday, June 19, 2018

One of the most common reasons that people start their own business is to work for themselves. But all too often, being your own boss turns into being your own employee.

 

In this article, the Panthera team will explain why you should be working on your business, rather than for your business.

 

What does working on your business look like?

 

It is a lot easier to strive for something when you know what it actually looks what that something looks like. Here are some sure-fire signs that you are doing the right thing and that you’re actually working on your business.

 

You are delegating tasks

 

If you are the managing director of a company, then you should be actively managing your team. It sounds obvious, but it seems that quite a few business owners forget this.

 

One of the main reasons that people fall into this trap is that they think that they should do everything themselves. This is either because they don’t trust their staff members to do the job correctly (which is an issue) or they think that they can do a better job themselves.

 

By delegating tasks, you are not only demonstrating that you trust your staff members, but you are also freeing up more time for yourself to work on other elements of your business.

 

You can maintain a clear picture of your business

 

When you work on your business, you should be maintaining a bird’s eye view of everything that is happening on the ground. This is so that you aren’t neglecting certain parts of your business. Distancing yourself (in the correct way) means that you have the most objective view of your business as possible.

 

What does working for your business look like?

 

Here are some signs that you are spending too much time working for your business, along with the downsides that this could bring:

 

You don’t have time to expand

 

Growth is one of the most exciting parts of running a business, however, there are many factors that need to be factored in if you are to do it successfully.

 

When you are working for your business, all of the time that would be spent on deciding when you should expand is being spent on completing the tasks that you should be delegating to your workforce.

 

Your plans are confused

 

Not only is it more difficult to devise a plan when your head is buried in work, but actually acting on these plans becomes borderline impossible.

 

For example, if you have set yourself the objective of increasing the amount of social media interactions your business has by 10% over the next month but you are worried about your cashflow, you will spend all of your time chasing invoices rather than achieving the goals you have set. This can lead to empty goal-setting and a lack of direction in your business.

 

Why you should be working on your business rather than for your business

 

You can work better and faster towards achieving your aims

 

This leads on from our previous point. When you are able to assess what needs working on in your business, set a goal, and go on to achieve it, your business can survive a lot more easily and expand a lot more efficiently.

 

This helps you tackle your weak points and target specific areas of your business that need improvement. Additionally, you can better lay out your expectations for the future by properly setting goals.

 

You can work to your strengths

 

By delegating tasks to your employees, you can ensure that each task is being handled by the person with the most relevant skills. And once again, it frees up your time. As your business day becomes busier and busier, your time becomes more valuable.

 

We can help

 

If you would like to discuss anything that we mentioned in this article, our team will be happy to help. We also offer a professional accounting service to business owners across the country. So, if you are looking to save both time and money through accounting, get in touch with our team.

 

Call us today on 01235 768 561 or drop us an email to enquiries@pantheraaccounting.com – we’ll be back in touch with you shortly.

 

What our clients say

For us, there is nothing better than a happy customer. Here are just a few that let us know how much we mean to them.

Pete Dungey

Simple, efficient and most importantly, hassle-free.

We found Panthera via our search for a Xero expert. We knew the software we wanted to use, and needed a forward-thinking accountancy partner who could get us up and running, and teach us the ropes moving forward. Tory and her team have always been on hand to answer our questions, and help us to grow as a business, particularly during periods of big change, such as becoming VAT registered. They are always on hand to alleviate any concerns and help to keep our records in order, which makes our year-end accounts an absolute breeze! Being based in Bristol, our relationship is entirely email based, alongside one consolidation meeting at year end - this keeps things simple, efficient and most importantly, hassle-free.

Pete Dungey Kaleido Grafik Limited
Anita van Eijndhoven

Talk Our Language

The support and service we receive from Panthera Accounting is very good. Everything from regular meetings, a prompt e mail response and the transition of our Xero software (which we find very pro active indeed) has and is all remarkably efficient. We find Panthera talk our language and make any process as painless and easy as possible.

Anita van Eijndhoven Quidne-IT
Ash & Tim Lane

Panthera brush aside the stereotype of the typical accountant

We got in touch with Panthera Accounting by way of a recommendation; we haven't looked anywhere else since. They are an extremely professional yet relaxed group of people. We were slightly daunted by the idea of accountants but Panthera brushed aside y the stereotypes. They are very understanding when answering any questions we may have. They are completely efficient, offer sound business advice, and are fantastically priced. We will continue to recommend them.

Ash & Tim Lane Starveacre Fencing
Jayne Johnson

An Asset to my Business!

The whole team at Panthera are great! Working with them has been a huge support to my growing business. They help me to understand the numbers I need to know. They give me technology solutions like Xero so that I can process things quickly and have access to my own figures. They are quick to reply, highly knowledgeable, nothing is too much trouble and as well as making sure that everything is compliant and on time, they are enthusiastic, professional and fun to work with.

Jayne Johnson Better People
John Baker

Absolute joy - they provide a first class service on every level

Working with Tory and the team at Panthera is an absolute joy - they provide a first class service on every level; from simple Xero issues through to more complicated tax enquiries, they’re always on-hand to help me get it right. I’m certainly not their biggest customer, but I’m always made to feel like their most important one.

John Baker BKR Solutions
John Castle

Professional and Friendly

I would like to say that Panthera Accounting have helped me with my business accounts for more than 4 years now. They have consistently offered an excellent competitively priced service that works both professionally and in such a friendly way that I would highly recommend them to everyone considering using their services.

John Castle Ilexanna Limited & Birch Castle Homes Limited
Jonathan Morrison

They are always there to answer queries and sort out issues

I had been with Mr Dunn for 20 years when upon his death Panthera took over the business. They now play a bigger part in the running of my business, they do all the stuff that has to be done but I don't like doing ie book keeping, VAT, wages, and returns. They are always there to answer queries and sort out issues and make sure all Tax deadlines are met. Their costs are fair, service is great and I have and would highly recommend them.

Jonathan Morrison Wallingford Builders
Pippa Scott

Professional, friendly and personal service.

Panthera Accounting have gone above and beyond the call of duty to guide and support our Company. They offer a professional, friendly and personal service that can take the stressful and sometimes frightening feelings out of running a business. They have guided us through the working of Xero and have offered “teaching sessions” on the day to day running of the accountancy package. Our only regret is that we didn’t join their team earlier.

Pippa Scott Scott's Commercial Services Limited
Sara Southey

Panthera puts the personal back in to accountancy!

Tory and her team have provided a friendly, approachable and helpful service from the start. They have delivered a quality service, above and beyond anything I could have expected. Panthera, with the help of the Xero package, have taken the stress, strain and confusion out of managing my company and personal accounts. I look forward to working with them for many years to come.

Sara Southey Bluestones Garden Design
Tracey Miller

Panthera are fantastic.

Panthera are fantastic. Always professional, going the extra mile for their clients and delivering superb service. I recommend them all the time to my clients.

Tracey Miller Bigger, Brighter, Bolder BBB

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