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Hire the right people – is it obvious who you are missing?

One of the most important roles of the business owner is to hire the right people.

This may be a mix of employees and external partners or consultants. Do you have the right people in the right roles to support you as you build your business?

Do you have the best people in place to carry you forward and execute your plans and strategy? Is it obvious who you are missing? Make sure your next hire fills the gap – you can’t afford not to.

Our simple personality profiling tool will direct you to the best hire you will ever make.  Get it right and you can elevate your business to the next level with ease.

Contact me for more information on how we can help. rob@evokemanagement.co.uk

Why friction is key to your team’s future success

Combining people who do not think, act, and express themselves in the same way can help your business grow to the next level. There is a sort of healthy friction that occurs when you combine people from different backgrounds and set them off to work together.

When people all think the same way then work can be more efficient but it may not be the best that it could be. The friction caused by diversity will lead to discussions that will lead to realisations that could lead to breakthroughs for your team members and business.

The collection of different styles of thinking and acting will help your team to reach new heights.

Find more about how to create healthy friction in your team rob@evokemanagment.co.uk

Why is leading by example such an important part of being an effective leader?

The truth is that when you are in a management position you are leading by example whether you like it or not.

Your team members look to you for guidance and advice every step of the way, and the example you set is crucial to how your team will respond to you. Something to think about is what happens to your team when its leader chooses not to lead by example. An example could be a manager who demands harder work and longer hours from his employees but then leaves the office early and takes vacation.

Workers become deflated, their drive will be lost and they will not have the desire to push towards your goals and in your direction. Leaders who lead by example choose to do the right thing, at the right time, for the right reason.

Learn more about how to effectively lead your team by example rob@evokemanagement.co.uk

How can I gain confidence in my team?

As a manager it is vital to be able to trust your team members are working effectively and accomplishing the teams goals. Your team will be scared to take chances and may miss out on opportunities because they feel like they  do not have have your confidence.

One reason you may not have confidence in your team could be that your team is lacking confidence. Confidence is a vital characteristic of effective team members. Confidence allows team members to achieve more and develop bigger, better ideas that can benefit your business.

By encouraging your team and instilling confidence in them, your trust and confidence in them will steadily grow. In turn your team will function more productively and team members will be happier and more fulfilled in their positions.

Contact rob@evokemanagement.co.uk if you’d like to learn more about creating a successful team.

“Change before you have to.” – Jack Welsh, Former CEO of General Electric

This famous quote will hit home to many business owners and managers.

We are living in the midst of a fourth industrial revolution and business continues to change and adapt to leverage new technology and ideas. Companies and business leader who are able to predict and efficiently embrace and exploit change will come out better than they were before.

The key message in this quote is that it is far better to seek out change then to have circumstances force you to change. A major part of creating positive change is having a conscious leader who is aware of the state of his business as well as the conditions in the surrounding markets.

Being a conscious leader means being an available leader, not only being open to different perspectives but actively seeking them out and applying them. These perspectives should come not only from in-house but also from outside sources with different goals and mindsets.

Learn more about being a conscious leader and creating positive change in your business rob@evokemanagement.co.uk

Considering Employee Ownership? These companies have recently turned their employees into owners

Richer Sounds is the latest company to transfer ownership onto their employees! Founder, Julian Richer has decided to give his 500+ employees a 60% stake in the business following his 60th birthday. Each of the employees will pick up £1,000 for every year at the firm, giving an average payout of £8,000, placing the shares in an Employee Ownership Trust.

Due to having no children to hand over ownership to, Julian Richer found the need to transfer ownership to those he trusts. He quotes “I didn’t want to sell to a stranger who might have completely different aims and ambitions for the business. I’m hoping it will ensure the succession of the business”. It has been voiced that co-owned companies tend to be more successful, competitive, profitable and sustainable!

Compared to John Lewis, who are the largest employee-owned company in the UK. In the challenging world of retail, the Employee Ownership structure allows the company to plan for the long term. It has been said that an industrial democracy, where employees share knowledge, power and profit, was a better form of business. This has shaped the company culture and encouraged the happiness of all its members.

BT are also another company who are handing out shares to their employees. Since announcing cuts to its 100,000-strong workforce last year, there were concerns of stress and low morale among staff. Now, with the aim to increase motivation amongst staff, the shares will go to BT employees around the world.

To read more about these companies’ transition to Employee Ownership, click here https://www.bbc.co.uk/news/amp/business-48297641

Are you thinking about transferring ownership to your employees or Succession Planning? We can work with you to identify the best route for successful business transition. Get in touch to discuss more opportunity- contact@evokemanagement.co.uk

How do you know when it’s the right time to get a Finance Director?

When is it the right time to get a Finance Director?

Given that most SMEs fail within their first year of business, investing in a team of professionals with your company’s best interest at heart becomes invaluable – especially as you begin considering expansion or improving financial performance.

They focus on:

Challenging and advising on growing the business
Developing and improving internal finance and business systems
Strategic advice and recommendations to Board and other key stakeholders

An FD is constantly exposed to tackling a range of financial problems that plague small businesses, financial directors are seasoned in protecting businesses from the holes in cash flows that can eventually sink even the largest of ships. This is where guidance from individuals with experience becomes crucial.

FD’s are instrumental to outlining KPIs, monitoring overall operations and ensuring firms stay on a path of meaningful growth, working as part of the team to deliver a clear vision for the future finances of a business.

Do you think your business needs a part time FD? Get in touch with us contact@evokemanagement.co.uk

Do you know what kind of Finance Director you have? Sometimes two are better than one!

An FD is necessary when moving your business forward. They will impact on the future financial health of your business through strategic planning, commercial decision making and tighter financial controls.

If you already have an FD then that’s great. I’m sure they understand the importance of proper planning and strategy. However, it’s worth checking that your FD provides you
with relevant and insightful reports that give you what you need to run your business.
If you think you need to review your strategic finance input, then you should consider what FD you need.

Sometimes two FD’s are better than one, there’s so many different types and skill sets an FD could have:

– An FD who restructures the balance sheet, builds up M&A deals, reports and closes the books, and understands the inner workings of the business

– An FD that has the strength, poise, and experience to make the difficult decisions on staffing, lenders, and suppliers

– An FD who acts as an expert of the business and can achieve increased productivity and efficiency throughout the company’s operations as a whole.

For example, if a crisis occurs resulting in a shortage of cash flow, your current FD may lack the necessary abilities and need assistance to kick start the turnaround. This requires a different FD who can provide the right perspective needed to spur the turnaround involving precise negotiations and proper management of the workforce.

It’s essential to have FD’s who have different skill sets that can collaborate and ensure the success of your business.

If you need an FD tailored to your needs, get in touch with our team right away contact@evokemanagement.co.uk

Want to know the secret to creating the perfect team?

Get the right mix of skills and personalities in your team and there will be no limit to your success.

Recently we have been using an amazing personality profiling tool to help businesses identify what skills they are missing in their teams.

One of our clients realised that they had nobody looking after the people and relationships.  It will come as no surprise that they had high staff turnover and did not really get any repeat business from their clients.

Together we have fixed this now, and they are turning things around.  It will not be easy and there is a long road ahead of them but we are so excited to see them achieve new heights.

Do you know what/who you are missing in your team?

Want to know more, get in touch. I am happy to share the secret!

rob@evokemanagement.co.uk

Do you still need a Finance Director if you already have an Accountant? Yes!

What’s the difference between a Financial Director and general accountant? Well, an FD is necessary when moving your business forward.

Many people think they don’t need a Financial Director because they already have an accountant.

Firstly, an FD is necessary when moving your business forward.

Rather than reporting on the past financial health of your business, an FD will impact on the financial health of your business through strategic planning, commercial decision making and tighter financial controls.

​It’s valuable to have an outside and objective perspective on your business. Your accountant won’t be able to provide this as they are too close to the business itself.

With your accountant keeping the past year’s books watertight and balanced, if you spend too much time staring into your rear-view mirror, you’ll miss what’s coming ahead. In this sense, a seasoned FD will ensure that you’re able to capitalise on future growth opportunities and confidently move forward. Providing crucial guidance on strategic planning, credible future forecasting and recommendations on financing overall operations and meeting targets, FD’s become indispensable to growing your business.

You have to have an accountant first to have an FD. They actually compliment your accountant by taking their work and bringing strategy, planning and experience to the figures to help move the business forward.

If you’re looking to move your business forward, our part-time FD’s can help do just that. Get in touch with our trusted and seasoned finance professionals to discuss more opportunity contact@evokemanagement.co.uk

 

3 Top Tips To Improve Your Business Performance

1. GROWTH PLANNING

Growth is an important part of any business. Whether you’re a small firm trying to make a name for themselves or a mature, established company. Growth is important to remain competitive and to ensure progress and profits follow. It’s all about identifying your growth opportunities, whether it’s your consumer base, new markets or your competition.

Growth planning includes finances and planning to operations and handling suppliers. This is where we can help . With our specialized business expertise, we can help take your business to the next level and find that next growth opportunity.

2. STAFF MOTIVATION

If you’re a business owner looking to build a highly engaged workforce, drive profits through the roof and benefit from a government backed tax efficiencies, Employee Ownership is something you should consider. Companies that became 100% employee-owned received an instant positive change since their transition. One simple change can help instantly improve your business performance.

We have an experienced team that have worked with companies across sectors to help transition to employee ownership. We take a holistic view of the process and ensure the true benefits are realised for shareholders and employees.

3. FINANCIAL STRATEGY

Your business will only grow with the right financial planning and strategy. If you still remain small, it might be because you aren’t benefiting from outside guidance. You need a long-term strategy for sustained success, to improve a business built to last and remain profitable with specialised guidance that parallels that of your competition and bigger businesses.

With our specialised financial expertise, we can take your business to the next level and deliver a clear vision and unparalleled expertise to your financial strategy.

We focus on strategic growth planning, which means designing and developing your business strategy, plans and procedures. This is by setting and communicating your goals for performance and growth. If you would like to find out more, get in touch with our team right away contact@evokemanagement.co.uk

How To Unlock Your Business’ Growth Potential

Understanding and processing all of the necessary information for growth can be difficult. This is why you’d want to ensure you’re not limiting your business’ growth potential.

When coming to the stage of business growth, Finance Directors become indispensable to moving your business forward. Effective strategic planning, credible future forecasting and recommendations on financing overall operations is not something you can do alone. Unlocking the secret to success often lies in delegation – your team is an investment, not an expense.

FD’s are responsible for outlining KPI’s, monitoring overall operations and ensuring your business stays on a path of meaningful growth. Working as part of the team to deliver a clear vision for the future finances of your business.

In order to unlock your business’ growth potential, you need to increase clarity about your company’s goals. Understand and articulate what type of effort will be required, the motivation behind each goal, and why they are important to your business. Create action plans to reach your goals by breaking them down. Turning long-term goals into daily actions will establish commitment to seeing goals through to completion.

Another way to learn about your potential growth is through your competition. One can either choose to learn from a competitor and try to replicate their success or find an avenue to separate and differentiate themselves from competitors. Both avenues can lead to increased production as well as heightened brand awareness. Opportunities can also be found by analyzing substitute industries. If a similar industry has a large consumer base, then there is opportunity to learn why consumers choose the alternative industry.How do I start?

Our team specialise in different areas of business from financial strategy, growth planning, teams and operations that they are ready to share with you. This is one to one guidance of the highest standard. Whether you need to find better ways of operating, recruiting, targeting your customer base or growing your business, working with our trusted professionals can give you the extra edge you need to keep moving your business forward.

Email contact@evokemanagement.co.uk to get in touch with our team right away!

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