The 10 hats business owners need to wear or hire

The 10 hats business owners need to wear or hire

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from valued. Absolutely delighted to be joining you live now on Wednesday the 9th of February Today's session, today's live on Facebook and our other social media is all around the 10 hats that every business owner wears on a daily basis. Um sorry that's just kid telling me that everything's going live here. It's one of the things that when I do these lives I'm never quite sure whether the technology's working or anything. So please

do say hi. Please do drop a comment into the chat. It's kind of lonely if I'm brutally honest just staring at the screen. Hoping that everybody's still out there. So please do say hi and I know that this technology, the sound's coming through loud and clear. So,

thank you. Uh yeah, so the ten hats that every business owner wears on a daily basis. It's something that I give a lot of thought to personally as the owner, as the founder of Valued. It's something that I have to remember every single day which haters that I'm wearing which what what happens during that day? Do I need to change hats? Do I need to keep on doing the same thing do I need to be different? What is it that I actually need to do? Now, if you want to pop in the chat, any hats that you think you may wear as a business owner, please do. I've got the ten that I think it is and I'll run through that and also some ideas and some suggestions on what we should be doing as business owners. In terms of

actually making sure that we manage these hats within our business. As always, we'll follow up with the blog in the next couple of days. So, I'll have a lot more detail around the areas that I'm talking about but as always, if you've got any questions, any thoughts, any comments, do pop it into the chat below on the on the Facebook. Or give us a

shout. Give us a contact. Let us know what your thoughts are as well. Because we're very much in twenty twenty-two about helping, educating, informing, inspiring business owners to actually take that leap. To move on to their next their next big thing. That's important to them. To focus on

their why, their purpose. So what do I think of the ten hats in every business? Er that every business owner wears are. Number one. shareholder. Number

two director. That's sometimes if you're a sole trader, that's one. It's the business owner. Other thing that we do, we wear a leadership hat. So, actually, we've we've not only are we the shareholder, the director, the sole trader, the partner in the business but we're also the leader of the business. We have to give direction. We're in

charge of product. We're in charge of the service development. So, what products is it that we're actually selling? What services is it that we're selling? Do we to invent some new products? Do we need to move into different areas? Do we need to diversify? What is it that we're doing now on a daily basis? We've got the operations hat. So, now we've got our products. How do we

actually make sure that these things happen on a daily basis? The internal operations. Linked to actually finding new products. We've got the marketing hat. So we need to be able to go out there and actually sell our products to existing clients. Sell our services to new clients. We've

got our function had as well. So how do we actually go and find the sales? How do we market our business? How do we actually find the sales? Two totally different departments in my view. We've got our finance hut. How many business owners actually look at their profit and loss on a monthly basis? How many of them look at it once a year? We know. I know that when we actually talk to clients we work with them on a monthly basis on a quarterly basis. They generally have

better results. Because they've gotta budget. They've got a plan. How often do we actually put our finance hat on? That one that many business owners don't like. That HR ha Hiring,

firing, holiday, sickness Everything that falls under HR contracts of employment. What we find so many times is that it's it's the forgotten heart. A lot of business owners I'll get round to that one day. And then if there's a problem I don't have a contract of employment in place. You gotta

make sure that you do this stuff. And then admin and IT is our final hat. So the ten hats that I believe there is the shareholder, director, leadership product service development, operations, marketing, sales, finance, HR, and admin and IT. Please do pop into the chat if anybody's got any other hats that they think that they wear on a daily basis within their business. It'd be really really interesting to hear and have any feedback on that as well. But the important bit for me is there can only be one clear leader in the business. If we're trying to do

everything within the business. We can't be leading the business. We can't be given the direction. We can't go in the car and turn left and right at the same time. We can only go left or right in the car. You could go straight ahead.

Ultimately. But if you're at a Tay Junction you'd normally go left or right. So we need a leader within the business. To actually identify which direction that this business is going in. It's really crucially important. When you've got one

leader, the leader then dictates what everybody else in the business should do. And we'll talk a little bit more in that as well over the next 10 minutes. responsibility is a crucial part for me. When we

look at the responsibility and who actually does things they are not the same thing. I remember when I very first set up Valued, I wanted to take responsibility for everything. I wanted to do everything. I suddenly realised that actually I can't do everything within the business. So, you're bringing a leadership team. You're bringing a team leaders.

You get them to work with their teams to actually develop their teams. Because they can have responsibility But they can't do everything. And what we need to do is make sure that every single person in the business knows what their responsibility level is. Make sure what they are accountable for and make sure that they are monitoring. Is everything being done within the business? It's really really critical. We've also gotta look at roles before the people. So when we're talking

about our ten hats that we're wearing within the business. We've gotta look at the roles. Before the people So you imagine and I've said this to three clients this week. If you were to start your business again today what would you do differently? And sometimes one of the the replies are wouldn't work with that customer. I

wouldn't work with that member of staff. I'd do this differently in the internal part. But when you look at the staff what we generally find is that we try and fit a person to a role. We say actually this

person's good at that but we really need them to do this role. So let's change the role. Actually we can't do that anymore. We've got through COVID. We're not quite there yet but we've got through COVID. To a certain degree.

We've gotta look at it. We've gotta understand that things are different now. We have got a new normal. We've had a new normal. It's a phrase that's not banded around as much as what it was. But we've got to identify the all and then find the person to fit the role We don't want to be finding a person to fit a role. It's the

opposite way around. So the role is vitally vitally important. We then gotta look at the functions within the business. Our 10 hats. We've gotta look at them. And then

we've got to have some responsibility around those. So when we look at our organisational chart and our business we can have owner, leadership, and then you have those 10 different hats below there. You actually have eight below. You got your leadership and you've got your shareholder on the top. And when we look at the functions, the sales function, the marketing function, the HR function, the finance function, the operations function. We give a level of responsibility to each and every single department head there. Now some people

watching this will have a business of one. you will be the person wearing every single one of those 10 hats. One of the common things that I hear from business owners when they go from being one man band to employing their first member of staff is. Well I still do this stuff and I do this stuff because I've always done it.

Then you employ another member of staff. And when you get up to about five normally we start to have a little bit of cultural change. We start to have a bit of a change in terms of HR. The people come into it a lot more. They don't actually think the same way that I think. Is a common statement that I get. But if we look at

the functions if we look at who does what within the business and we give them the responsibility to do that. It's so vitally vitally important. And it frees you up as a business owner to focus on your why. It's so important. Michael's just commented here. Thank you very much Michael. Um hi Steven. Great content as

always. Thank you very much Michael. That's lovely of you to say. What advice would I have for someone who wears all those hats that aren't quite at the level to bring another team members to share the Lord. To catch twenty-two. One leader is carrying all of the hats and doing every single thing within the business. Great great

question Michael. And you knew you come up with something like that. Thank you Miz. do you do? You look at what your skill set is within the business. You

look at what you enjoy. And you look at bringing other people in to help you, to support you in different areas. So as an accountant, as the primary in an accountancy firm, if our clients are sitting there and saying, you know what, I don't really want to do the bookkeeping on a daily basis. I

don't want to do it on a weekly basis. Outsource it. We can take it over. As a business owner I remember a good few years ago. Just hang on. I can't be bothered to monitor the holidays. I haven't got the capacity to go. How many people are off at the same time? Where do I save that contract of employment? Where do I save the one to one documents? Where do I put all of this different bits of information? So I went out there. I found a bit of

software. Charlie HR. And we implemented that within my business. Our business us. We implement this because actually that was kind of outsourcing. It was making it a lot more streamlined. So when people want to book a holiday I wasn't manually having to look at clashes. I just got the software to do it. So you don't

necessarily have to get somebody to do that role. You can get software sometimes to do it. So please do consider what you're doing within the business. Because ultimately when you very first start the business what's the phrase you cook and bottle washer, manager, cleaner, you're doing everything, all at the same time. As businesses grow, that needs to change. But ultimately, you do have to take that leap. You do have to look

at the why. You remember a few months ago, I talked about the why, the purpose, the vision, the dreams, the goals. What was then you're trying to achieve in twenty twenty what it is that you're looking to do in both hands and go and do it. if it's that you need support to wear these 10 hats then bring somebody in to do that. Look at

it from a financial point of view. If I bring somebody to do some of this stuff all it costs me. I know that I personally looked at it and went if I bring somebody in to do some admin support then it means I haven't got to do it which means I've got more time with the family. That's more

valuable to me. I'll take a bit more of a pay cut to do that. Or I'll go and find extra sales to cover that. It's really really important that you get it right. What else have we gotta do? We've gotta realise the function of each department and we've gotta write it down. Don't just have it up here.

Don't have it in your mind. It doesn't work. I've done that. It doesn't work. It's got to be written down. You've got to

have an organisational chart. You've got to have an organisational chart that everyone within the business understands. You put those roles next to it. You then the person in the role. But you've got the role. It's really

really important. What's then even more important is determining the responsibilities for each role. So each person within the business should have a job description. Should have this is what you do. This is what you're accountable for. This is

what your KPIs. Your key performance indicators are within the business. And it should list every single thing that you do. You can put lots of different things in there. There's roles and responsibilities. There's

position contracts. There's lots of different methods out there. Just make sure that you've something. That measures. That makes somebody accountable. Because it's really really important to do that. It's critical. Because

when we've got that we end up with a clear organisational structure. When we've got that we get clarity of roles. The team understand what's expected of them. You end up implementing best practice. So you end up actually looking at it and going, right, well, if I had this blank sheet of paper, I started this business again today. What would it look like?

Today is that blank sheet of paper. Today is that day we can press reset. And we can implement best practice within our businesses. We make that. There's no department neglected. So that HR stuff

that a lot of people don't look at until they've got a problem. You take it off. You get it. Straight on. You tackle it straight on. You make sure that it's sorted. Everybody has a

contract of employment. It's a basic legal requirement but we forget to do it. We forget to do it. You don't neglect any

part of the business. Ultimately, what does that then do? It drives the sustainability of the business. It drives the fact that it can be scaled. It gives you more time. There's so many of my clients right now. They're looking so tired. They're

genuinely looking tired. And they're looking tired. Because for the last two years and longer with COVID. They weren't sure what was going to happen.

They were trying the best. But we've all had time off at Christmas or holidays. Where the first thing that you do is you get a cold because your body suddenly comes down. This is where we're at now. We come out at the back of COVID We're looking at the news. The news

is telling us that we've got a huge cost of living crisis. The news is telling us that the Prime Minister's having 19 parties. We've got so much uncertainty again. We got Russia. All of this stuff

happening in the world. Take control of what you can control. And that's your business. Take control. If your business to give you the life that you want. Because ultimate if you don't you're going to risk burnout. You've got to

make sure that we don't do that. We're going to increase efficiency by having a clear structure. But also we're going to stop the problems coming to you the leader. If you've got accountability for a leadership structure then we're going to stop the problems coming to you. So many times my clients turn around at me and say you know what? I'll find out about everything and I don't really care. I don't need to be involved in everything.

is only you can stop that from happening by going and implementing a clear structure, a clear process. Now as always I love to help our clients. The people that watch these webinars. Thank you so much for the feedback that we get afterwards. It's absolutely

phenomenal. We do these every single month. We've got a programme for what we're going to do over the next twelve months. Absolutely love doing it. But what we had

valued are going to start doing a lot more of is we're going to start doing a lot more workshops. And I'm going to be hosting a workshop around the 10 hats. In that workshop we're going to be giving you deeper insights that are specifically your business In that workshop, we're going to help you to develop your own organisational chart. We're going to give you the template. We're going to help you to flesh out a good couple of roles. We're going to

help you to move forward with the remaining roles within the business. The different hats within the business. we are going to help you to break through that ceiling of complexity. Cos there's far too many times that as business owners what do we do? We go oh it's a bit hard to do. I tell

you what, I'll go and do something else, that's easier. We can't. We're going to help you to break through that. And we're going to make you a plan to free up your time and increase your effectiveness. It's really, really important to me. We're going to put some details in the blog of when those workshops will be, how to sign up for those workshops.

Absolutely delighted to be able to help that. Thank you, Michael for the comment again. Really, really that. The next step like if you want to take it is to click the link on the blog. Click the link on the

post once we get that live. That will give you more details of the workshop. What we're also really really delighted what I'm personally delighted to do is we've got a gentleman called Steve Pipe. Many of you won't know potentially who Steve Pipe is. But Steve Pipe

was UK Entrepreneur of the year. He's somebody that has been so influential in the accountancy industry for the last 20 plus years. It's been phenomenal. Steve Pipe and I will be doing a workshop a live and it's all going to be geared around doing business for good. So we'd love you to join that. We're going to be sending out some emails to all of our clients inviting people along.

We'll put it on the social. So please do join that session. I know that Steve's going to give away copies of his book that he's written. But he's also going to talk about B one G one. A little bit. I've asked

him to talk about that. Those those people that watched the last webinar may remember me mentioning Bone Gone. And one of the things that we do within a business is we've done a live tier. We've done live right now. In a month's time we will

look back. We'll see how many views we've had. And we donate based on the number of views. The number of people that have interacted with us. And we

donate money to help ladies in Africa that have actually got some sort of loan to start a business. But need the business support to be able to do that. So we actually donate a day's training to every single person that watches this. So please do

share it. Please do comment. Because actually we're giving back. We're giving back because it's the core value of the valued. It's core value for us. We want to help and the business owners to do that.

We're going to talk some more about the Bone Gone movement and what we do within that as well. So if anybody has any other questions about that again pop them in the chat. But as always thank you so much for your time today. Thank you so much for the comments. I really do appreciate it. And I look forward to speaking to you in a months time for our next live.

Take care. Have a great day. Bye bye.

2022-02-11 01:58

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