Chartered Accountants & Business Advisors

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The loneliness of the long distance Managing Director

Date: Thu, 5th Dec 2013
Posted by: Jan | Tagged: jan's blog, mentoring service, financial advisor

It’s not only tough at the top - but can also be a lonely place as well.

If you’re running a business there’s often no one to talk with, share your problems as a peer, at an equal level, nor to tell you how good you’re doing.

Many managers get value from business coaching but for most, they’re too busy, wary of the cost involved, or need to focus on today’s problem as well as the one coming up - and need someone who can understand the what, how and why of what your business does.

As a result I come across too many business owners feeling stressed, not valued and on a downward spiral of demotivation.

Often the answer is to slog on alone as you are the boss. But then nothing seems to change. Stress levels increase.

The answer is to know you’ve got someone to talk to about your problems.

Someone who offers many years of experience running real businesses. Your own right hand man.

Someone you can share your problems with and get you the best answers.

Take James for example. He had a great team behind him. He felt the current business performance was a financial success yet the company’s financial position was plagued by historical debt which their foreign business owners demanded they repaid, along with a large, but uncertain, legal claim.

The legacy of the debt and the legal claim muddied the current business performance with their owners insisting that they weren’t in fact making any money…the relationship with the foreign business owner was fraught…

Mentoring discussions helped share the burden and revealed a plan of action which was subsequently put in place to remove the stress.

Or the example of Nick; he was unhappy; business performance seemed to be declining and running the business was no longer fun.

Nick decided that the business no longer delivered a good enough service level; maybe they were in the wrong market? Nick decided to close the business.

Acting as his mentor, helped him to think through the issues and come up with an action plan to wind everything up in the best way.

And I remember Mark. He sometimes felt alone despite having his team around him. Mark enjoyed our regular catch-up meeting to help him sort out his next steps, encouraging him to focus on the massive recent changes within the business.

Our many clients including James, Nick and Mark were feeling stressed in their work as Managing Director and found through our mentoring service, that they can find a solution to their problems.

So how can we help?

As well as saving tax, time and worry, we work with business leaders to help them grow their business in the way they want.

One way we do this, is through meeting with our clients on a regular basis and act not just as a financial advisor but also as a business mentor, someone to talk to, share problems and consequently come up with concrete actions to sort out those problems.

If you would like to find out more, or want to put our mentoring to the test with a free informal call or meet, then contact me, Jan on 07890 239442

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