Now not all of our previous Bosses were bad – but I’m sure we can all remember their deadlines, the raised voices, the pressure to perform, the stress of timekeeping, targets and appraisals. Isn’t it great that your new Boss isn’t like that….now that it’s you?
Of course, now that you are the boss it’s possible to feel a bit of sympathy for your previous employer. Let’s be frank – at least when you worked for them you could take a few days holiday! According to Guy Browning, author of ‘Never Hit A Jellyfish With A Spade’ “Working for yourself is a beautiful combination of demanding boss and difficult employee. Self-employment causes the development of a mild schizophrenia: you have a shouty drill sergeant boss in your head that gets you out of bed, and a soft little minion who prefers life under the duvet.” The important point here being, as we soon find out when we run our own SME: “…You need to pay very close attention to the shouty drill sergeant. He’s the one that pays the bills.”
So much of the stress that comes with being the boss originates from finance.
As we have touched on in this blog before you are the expert of your business – you understand the systems, the roles and the intricacies that make it work. You are very fortunate if you understand all of the financial aspects too. Most entrepreneurs are not financial whizzkids. And cash flow is the most problematic issue of all.
Fortunately help is at hand. Funding solutions exist for all manner of business problems – from Asset Finance (which allows you to release cash from the value of assets that you already own or fund new ones), through Invoice Finance (which releases cash tied up in unpaid invoices), to Start Up Loans and Trade Finance (provides funds to import goods from your suppliers).
You can even raise finance to help you pay your VAT, Corporation Tax and Self Assessment tax bills. For a full list of the types of funding that you could potentially access, please click here.
If your cash flow is under control then perhaps you can relax a little and not laugh uproariously at the thought of taking a day off or giving yourself a small pay rise? To paraphrase Guy Browning; Once you’ve had a few years of running your own business successfully you’ll understand that you could never work for another ‘Boss’ again – which is probably for the best because by this time you have become virtually unmanageable.
If you’d like any further information on any aspects of business funding, please don’t hesitate in getting in touch.
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Please note SME funding UK Ltd are brokers and not a direct lender.