MODERN BUSINESS
secure. Cyber crime is rampant
but don’t panic. And don’t pay an
IT consultant squillions to firewall
every nook and cranny of your
organisation. Do some homework
and you’ll soon find cost-effective
tech solutions are easy to come
by – and they’re getting cheaper
and easier all the time. If you invest
just a fraction of your working week
in learning about your IT systems,
you’ll not only better understand
a fundamental part of most 21st
century businesses, you’ll also be
able to communicate with your
nieces and nephews.
Work for yourself first
and foremost
Why did you start your business?
Sure, to capitalise on your expertise
and fill a gap in the market. And of
course after decades of working for
others you were due for a change.
But you also started your business
because you’re selfish and driven
and that’s a good thing. Don’t
believe what you’ve seen or you’ve
heard: ego is not a dirty word and
if you’re not putting you and your
business first, how do you expect
any one else to? A touch of selfobsession goes a long way and
keeps the baddies at bay. Think of
it as your business’ own personal
CCTV. However, there is a downside
to obsession …
Take your dividends
It pays to be conscientious and lead
by example, but don’t go overboard
because working for yourself can be
a sad licence to overwork if you’re
not careful. Burning the midnight
oil is fine, but there better be a
reward in the morning. So forget
self-flagellation for its own sake
and take your dividends. Spend
them, save them, reinvest them into
the business, but remember: you
can’t take any of it with you, and you
don’t want the taxman getting his
hands on any more of it than he’s
entitled to. So treat yourself from
time to time: you’re in business, not
a monastery, after all.
Get your business valued
The old saying ‘if you’re not making
a profit, you’re not in business’
is true no matter the size of your
organisation. Sit back and reflect
on what you’re doing and why you’re
doing it. There are plenty of hobbies
you can pursue in your spare time
(and plenty that will make you
money), but the litmus test of any
‘business’ is its sustainability and
its value. So take the plunge, talk
to a financial expert, and get your
business valued. Be real. You’ll find
out what’s at stake and how much
insurance you need. You’ll also find
out if it’s truly a business, or just ‘a
job’.
Alan Manly is the Managing Director
of Group Colleges Australia and has
over thirty years experience in business
management in industries including
technology and education. He is the
author of the book When There Are Too
Many Lawyers … There Is No Justice
($24.95) now available online at https://
alanmanly.squarespace.com/
January 2016
ModernBusiness
39