The Tribune

By Simon Cooper

Res Socius

How time flies. We say this every year with increased surprise. This time of year is cause for reflection in various ways. How did I do as a person? How do I need to change? How does my business need to change, in order to face the challenges of an uncertain 2013?

These musings are interrelated. After a while, a business can become the owner’s second skin, the outward persona that the market recognises. This can lead to an over-bearing sense of weariness, of being trapped in a spider’s web of familiar routines. When this happens, it is time for change, and that change has to start with you, the owner.

1. Perhaps you need to carve out time for the things you promised yourself when you went into business originally? These include the right to say no to drudge, and yes to other exciting opportunities. So put the company books away at 6 pm and redirect your business calls to voicemail. It is time to start enjoying the evening with your family. The shop is closed.

2. Does this sound impossible to you? We all get stuck in mazes of familiar routines from where there seem no exits. Perhaps you need a business mentor or a friendly sounding board? I do not offer these services myself. However, you are welcome to pop by my office for a chat. Perhaps it is time you sold your business and did something else instead?

3. How about indulging in a little delegation? It is not difficult to fall for the old “nobody’s as good as me” gig. I bet your boss once said that of you, and look where you are now. Why not try a little experiment with something you do not enjoy doing any more? That is right. Farm it out to someone else. This could be an employee, or an agency.

4. When did you last innovate with a new product line? That really is the pleasure of doing business in a nutshell. If I did not do it myself, I would be totally bored. However, if there really is nothing you can change (perhaps you are in a franchise situation), try spending time chatting with your customers.

5. That brings me to relationships. Being bored in business is a good step towards depression, and depression means withdrawing from relationships. If you think that is you, you need to smash the mold. After all, didn’t you go into business in the first place so you could attend to your family’s every need?

That brings me to the end of my final column for the year. Res Socius is taking a short break. My family, my staff and I all wish you the very best of a very blessed Christmas, and every success you ever dreamed of in the New Year.

NB: Simon Cooper is a founding partner of Res Socius, a firm authorised by the Bahamas Investment Authority to facilitate the sale and purchase of businesses and provide management consultancy services. Contact 376-1256 or visit www.ressocius.com.