Five steps to good business health

Your business may be your baby, but you need to trust the village around you to help raise it. Building a skilled and trusted team — both internally and through an extended network of advisors — will allow you to effectively delegate and free up your time and energy to focus on strategic areas.

When choosing advisors like accountants or solicitors, don't just go with the cheapest option or a family recommendation. Instead, rigorously select experts who add real value beyond just finalising accounts. When sourcing advisors, consider asking questions like:

• Have you had any experience in similar industries?
• What areas financially can we improve on?
• How can we improve cashflow?
• Are we managing our debtors and creditors effectively?
• What does our provisional tax liability look like now the company is growing?
• Are our terms of trade relevant to the market?
• Are they actually adding value to my business?

By not getting bogged down in the daily details and processes of running your business, you'll have time to focus on the bigger picture.

Try standing back and thinking about the top four or five priorities for the business. These are the things you must get right to be in market and make a profit. Consider pricing, specific skilled staff, customer service, financial management or other aspects of the business. Keep it simple and actionable.

Make your business plan a living document and get your people engaged. By regularly updating the plan — perhaps quarterly or six monthly — and sharing this with your team, they can see how the organisation is tracking against the shared goals. This keeps your team informed, aligned and accountable.

Put yourself out there for your customers and wider network. If this isn’t your strength, consider appointing someone suitable to take ownership of this part of your business. By connecting with your customers, suppliers and networks you can show them how important they are to you. People like doing business with people they like and respect.

Running your own business is challenging and time consuming, but little problems are more likely to turn into big problems when you're tired and depleted of energy both physically and mentally.

Taking a break can be refreshing for both you and your employees. It fosters autonomy, builds trust, and is good for everyone's mental health.

Make sure your team take breaks and that they feel appreciated by marking achievements or hard work. Small acknowledgements can go a long way, for example, shouting lunch or giving the afternoon off to an employee who has gone above and beyond.