Tag Archives: Business Strategy

Dave The Dog

IMG_1704I have a dog, Dave. He has been part of the family since last summer when my wife and two sons convinced me that having a dog would be a good idea. Now, we have discovered that Dave likes a challenge, trying to escape from an increasingly more secure back garden. He does not give up just because we have increased the height of the fencing or reinforced the ground; he spends his time searching for potential weak spots we may have missed. Watching him carefully inspect the new perimeter in the garden made me think of the determination he has in trying to escape.

This ‘never give up’ attitude is also a key characteristic of many business owners. They all have a driving ambition to achieve certain goals and set new ones when these have been fulfilled. The issue many business owners have is setting the goals as part of an overall strategy. Individual owners often have nobody they can discuss matters with and even where there is a team discussing and agreeing strategy can be low on the ‘to do list’.

However, talking with team members or external parties is a key part of being able to bring individual plans, ideas and thoughts together in a strategy.  I would advise that spending time on business strategy is time well spent. You will find that most people are willing to listen and share their thoughts and advice, even if it is just providing feedback on your ‘crazy plans’.

I am currently advising a number of businesses that have long term goals but are unsure how to achieve them. The owners have engaged me to be part of regular meetings to map out the strategy for their businesses. This has proven to be very beneficial as it gives them fixed diary dates that are dedicated to focusing on developing opportunities that move them along the path of their long term plans.

You see if Dave could talk and asked me how to get out of the garden I could tell him that learning to climb a few feet up a tree would lead him to freedom. However, dogs can’t talk but business owners have no such excuse.

Tim Mills – Corporate Finance Partner