Bite Size Business Tips / 69 posts found

Succeeding at school may be harming your entrepreneurial career

by Iyas A
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There’s a reason that many successful business starters didn’t have sparkling academic careers, and why a lot of people who shone at school failed at startups. If you’re an academic success at school, you become conditioned to prize being right and fear being wrong. And being right is definitely a good thing. But over time, being right is better than being wrong ONLY if it doesn’t reduce your desire to continue learning and to risk being wrong. Or to put it another way, if…

Your business can’t be about you

by Iyas A
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Entrepreneurship and business become noble when you’re doing it to improve the lot of those around you, not just yourself. I love this from Nassim Taleb. “Some people take risks and some people labor in the fields. You have the option of doing either one or the other. But my point is you should never have someone rise in society if he or she is not taking risks for the sake of others, period.” The best business owners I’ve known are those that get this intimately. They may…

Authenticity can hurt your business

by Iyas A
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Authenticity is today’s buzzword. And like most buzzwords, although it can make sense in many contexts, it is now overused, inappropriately applied, and often plain wrong. Everyone tells leaders to “be authentic”. But what if you’re a prize arsehole? A sociopath? A bigot? A despot? Will you still take the advice of every coach out there and be authentic? Good luck with retaining a team and creating anything but a toxic culture. What are your options? Well, you could fake…

Purpose AND Profit

by Iyas A
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There is still a face-off between Purpose and Profit in much of the business press these days. This is counterproductive. If we’re looking at businesses (not charities), then they need profit to achieve their purpose. Having a more than bucketload of purpose and less than a thimbleful of profit is a guaranteed way to ensure your purpose is either denied, or short-lived. Businesses (and capitalism) shouldn’t be driven by profit maximisation. Profit is a means to an end, not the ends itself.…

Focus on culture when your cash flow sucks is like focusing on dancing when you can’t breath

by Iyas A
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I’m all about the team and the culture. That, to me, is what differentiates businesses, what makes some great, others mediocre, and yet others appalling. But that greatness doesn’t happen without sales, without revenue, without cash and without profit. Sales, profit, revenue and cash are like oxygen. Oxygen doesn’t make us special – what makes us who we are is our interests, our values, our experiences. But without oxygen, all of those would be irrelevant – we wouldn’t even…

Knowledge can destroy your business

by Iyas A
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Knowledge is power. I still hear this all the time. Sure there’s truth in it, but it’s also simplistic and dangerous. Knowledge hoarders are often bottlenecks. Sometimes intentionally so, knowing that being the only people who can do certain things can make them indispensable. For a while at least. Those of us in technology all know the contractor who protects his turf by building monolithic and impenetrable code. Being the only guy (and it’s always a guy) who can keep it working…

Don’t park your humour outside the office

by Iyas A
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I’m always astonished by how many people decide to park their sense of humour outside the office. Work is a serious business. Or rather, work delivers serious results. But we don’t have to be over-serious in the process of getting there. I can count on the fingers of one hand the number of work scenarios that wouldn’t be better if humour was injected into them. And probably the fingers of a chicken at that.

You can’t scale your business on a 4 hour week

by Iyas A
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I read Tim Ferriss’s 4 hour work week probably a decade ago, and met him when he came to do a reading in London not long after. It was a great book, which had a real impact on my life, including my wife and I taking our 4 kids out of school to travel around Latin America for 6 months. As a guide to creating a lifestyle income, I think it’s up there with the best. The challenge is that many people have taken that book to be a guide for creating a scalable business. It really isn’t…

Your numbers need to add up, but only by putting people first

by Iyas A
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I’ve worked in places where making the numbers right on a spreadsheet meant playing with people’s lives. I’ve also worked in places where supporting people’s lives made the numbers right on the spreadsheet. If you run a business, it’s your choice which way you want to go. It’s your choice what you make the priority. But I’ve always found that putting people first is not only the more human way to run a business, but also the only sustainable one.