Tip 10: But do not forget to look after yourself!

While it is important to make sure that your staff are being trained and cared for, it is equally vital that you do not neglect your own training and personal development.

Have you been training yourself up over the past 12 months, or have you struggled to the find time? If you have not, unless you are able to find the time, it will be your business that starts to struggle, as you will be overtaken by competitors who have invested time and effort in their development, or up-to-date new entrants.

Brush up on your skills, particular in areas where you feel you need to improve. For example, if finance is a weak spot, take a course on financial management for non financial managers. If you are feeling overwhelmed, maybe some leadership and delegation training may be required.

At the very least learn to manage your time wisely. Remember the 80/20 rule - 20% of your activities will affect 80% of your business. It is probable that 20% of your customers provide 80% of your revenue. Find out what is important to them and focus on it.

Read widely and take advice. Much of it may be available for free. Peter Jones, the well known “dragon” from the BBC TV series, uses his key executives to “sanity check” his ideas. If you don’t have these sounding blocks in your business, working with a mentor or a coach, or even adding a non-executive director to your board, could provide you with a valuable outlet.

It is lonely at the top. You probably know that if you are a senior executive or an owner manager. People are defined as much by how they deal with what they can’t do as by what they can do. So look after your skills, don’t be afraid to admit what you don’t know, and ask for help.

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