Category: Finance

Many business owners experience barriers to delegation – potentially disastrous as your business cannot grow without it. Sometimes there is a deep-seated reason why you can’t ask for help; for others, it just hasn’t occurred to them! 

In this blog, we look at common reasons business owners struggle with delegating, and consider the ways you could overcome them.

Common barriers to delegation

1. Imposter syndrome

When we experience imposter syndrome, we believe that we’re an imposter in our sector. We feel like we shouldn’t be in the role of a business owner, or we don’t feel like we’re qualified to work in that industry. Imposter syndrome – unlike actual fraud – is when we have all the qualifications and experience to do our jobs, but we still feel like we shouldn’t be there.

Imposter syndrome is a barrier to delegation because if we don’t feel entitled to do our jobs, how on earth can we take the lead when we ask someone else to do it? And how can we give feedback with confidence? 

Sometimes, all we need to overcome imposter syndrome is a quick reality check. Look back at your qualifications, if you have them. And if you’re a graduate of the University of Life, spend time remembering how you learned all the skills that got you where you are today. 

If your imposter syndrome is more serious than that, it could be helpful to talk to a life- or business-coach. We have quite a few in our business family – talk to your local regional director if you would like an introduction. 

2. “It’s quicker to do it myself than show someone else.”

We’ve all said this at some point! But the truth is, showing someone else is a long-term investment in your business. Certainly, the first time you do it, briefing your staff member or outsourced support will take time. However, once that initial briefing is out of the way, your business now has two people who know how to do it, instead of just one. This means one less thing on your to-do list; it also gives the business flexibility as either one of you can take responsibility for it in future. 

Accepting that you will “lose” an hour while you brief someone else on how to do it is easier when you also see the long-term advantages you’ll gain in return. 

3. Micromanagement 

Micromanagement is often a symptom of a lack of trust. If you don’t trust your staff or external support team, ask yourself why not. If their work is rubbish, stop micromanaging and hire someone else! And if the problem is with you, take action. Remind yourself that your team doesn’t want to do a bad job – they’re on career paths too.  

Overcome barriers to delegation when you outsource to Get Ahead

If you’re struggling to ask for help, Get Ahead could be a good way to start. You’ll have a single point of contact in the form of your local regional director – they’ll be able to introduce you to the right expert who knows your industry and also has the right personality. 

Often, they’ll encourage you to start small, perhaps with some outsourced diary management. If that goes well, you have the option to increase the amount of support you receive. You’ll never be locked into a long contract, and there’s always the option to add or subtract services as your needs change. We hope it will all go well, but if anything doesn’t make the grade, you can discuss it with your regional director. This means you don’t have to give feedback directly to your virtual expert if you don’t feel comfortable.

If you’re ready for Get Ahead to support you, get in touch today – we’d love to hear from you! And if you’d like more information on how to outsource successfully, download our ebook here.

Small businesses don’t always have the same financial security that a bigger business has. This can make expansion difficult, and leave business owners struggling. Without the means to pay more staff, or the security that they can keep on paying wages, some business owners are thinly spread and unable to take their business to the next level.

Fortunately, outsourced business support is an affordable, flexible solution that enables business owners to access cost-effective support they can turn on and off as required.

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As outsourcing experts and flexibility champions, the team at Get Ahead can see many reasons why delegating admin to a virtual PA (also known as a virtual assistant) is great for your business. It’s worth noting that we outsource our admin to our own remote team, doing just what we recommend to our clients and reaping the same benefits.

Here are the top reasons working with a VA is an efficient solution for your business.

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You’ve fulfilled your dream of working for yourself and being your own boss. This is great news – we’re thrilled for you! But we also know that working alone can be tough. This applies to people in many professions, but particularly business coaches and life coaches, who give so much support to others that they sometimes neglect their own businesses.

In this blog, we look at ways to make working for yourself as fruitful and efficient as your business deserves.

The advantages of working for yourself

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Get Ahead has been supporting coaches for almost as long as we’ve been in business. Some of our most successful working relationships have been with life coaches, business coaches and personal branding experts.

In this blog, we look at why outsourcing is a great solution for coaches.

Why is Get Ahead a valuable resource for coaches?

Coaches, like other business owners, usually have a long to-do list. In addition to working with clients to help them find their strengths, we know that coaches also have to market their businesses, stay on top of invoicing, create resources, keep up with the filing and more.

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One quarter of the year is a long enough period time for you to notice trends, but not so long that patterns become irrelevant. As we change from Q3 to Q4, it’s a good time to review the last quarter, measure the success and take on learning points for the coming quarter.

In this blog, we look at the four questions business owners should be asking during a quarterly review.

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If you’re new to running a small business, you’re not naturally organised, or you just hate finance jobs, it can be easy for your accounts to get on top of you. Of course, it’s much better if you can get on top of them. The best way to do this is to break your accounting tasks down into regular responsibilities. In this blog, we look at what you should be doing daily, weekly, monthly and annually so you can keep up to date with your finances.

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If you’ve just set up your business, or you’re offering a new service, it can be difficult to know how to price your offering. You don’t want to rip off your customers…but you don’t want to rip yourself off either. Working out what to charge for services can be very complex, so we’ve put together some do’s and don’ts to point you in the right direction.

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Most of the time, clients and customers pay on time, cash flow is steady and all is well. But sometimes, invoices go unpaid. Perhaps the client is trying it on; perhaps there’s a genuine reason why they’re struggling to pay. Whatever the reason, unpaid invoices can hold up your business, reduce your income and restrict your business growth. In this blog, we look at how best to chase unpaid invoices, and how to avoid the situation in the first place.

  • Late payments – prevention is better than cure

The best way to deal with unpaid invoices is to limit the chances of them occurring in the first place. There are two ways you can do this: clarify the invoicing process in your terms and conditions or contract, and always issue a quote before you start work.

When you write your T&Cs, or the contract you will issue to your client or customer, be clear about timescales for paying invoices. That way, if the client doesn’t pay, you can refer them to the legal agreement between the two of you. This will also protect you if you find yourself having to escalate the situation.

Make sure you client knows exactly what comes at a cost and what is free. It’s always a good idea to issue a quote – if the client doesn’t ask, assert yourself and tell them you’ll send one over for their approval before you start work. If there is a charge for, say, telephone calls or travel, make sure the client is aware. There’s nothing more likely to lead to an unpaid invoice than an unexpected expense!

If the invoice is going to be particularly large, it can be a good idea to remind the client before you issue it. If they need to put anything in place to ensure the payment goes through, advance warning will give them time to prepare.

  • Unpaid invoices – a friendly approach

The most common reason for not paying invoices is oversight. The invoice arrives with your client on a busy day and they just don’t get round to it. For this reason, it’s a good idea to start with a friendly approach. We like, “can I just check you received this?” and “I was just going through some paperwork and I noticed…” They both give the client the chance to pay without too much embarrassment, which should keep them on your books too.

  • Chase unpaid invoices by getting serious

If, after your friendly approach, the invoice is still not paid, it’s time to up your game. Send a strongly worded letter or email. A good approach is to state what happened, then state how it made you feel (e.g. breach of trust, work not being valued) and lastly state what you want to happen next, and when by.

  • Going to small claims court

There are fees for taking your case to court, so think before you litigate! There is a mediation service too, which in some cases is the best way of resolving the situation and is cheaper than court too.

You can find up to date guidance on taking a non-payment case to court on the government website here, and you can find a court fees calculator on the Which? website here.

If, after going to court, the invoice is still not paid, you can instruct the court to send bailiffs to take the payment directly from your client. Again, there is a fee for this so do your maths and only take action if it’s worth it.

We really hope that our step-by-step guide has helped you chase unpaid invoices and get the results your business needs. To help you keep on top of invoicing and your other financial responsibilities, we’ve created a new infographic – check it out here.

Most of the time, clients and customers pay on time, cash flow is steady and all is well. But sometimes, invoices go unpaid. Perhaps the client is trying it on; perhaps there’s a genuine reason why they’re struggling to pay. Whatever the reason, unpaid invoices can hold up your business, reduce your income and restrict your business growth. In this blog, we look at how best to chase unpaid invoices, and how to avoid the situation in the first place.

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