The only specialised marine publication in Oceania that focuses on the maritime industry, from super yachts to small craft to large commercial ships, including coastal shipping, tugs, tow boats, barges, ferries, tourist, sport-fishing craft
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Run your business FROM THE BRIDGE BY CHRIS ELPHICK I am sure that we have all heard the phrase. It sounds great but what does it mean to small business owners who fi nd it really hard to get out of the engineroom where we spend all day working in our business! When we are in the engineroom we feel on top of the operation of our business – we think we know what is going on. In reality our view of our business from an engineroom perspective is very limited – we see lots of detail, we probably feel at home with what needs to be done, we are in our comfort zone and we are probably close to our people. However what we cannot do down there is to step back, think and refl ect on where our business is going; what the likely risks and threats are that we have to be aware of - what the big picture looks like. We need to be on the bridge to be able to see the horizon and to look around at the business environment in which we operate. It is from the bridge that we can plan and think about the direction our business is going. It is from the bridge that we can assess our options and make reasoned, objective decisions. It is from the bridge that we can anticipate possible challenges to business success and better understand the risks that we need to be aware of. In the engineroom we are likely to be reactive to what we see, hear and smell around us. We do not see our business as our customers see it. It is only when we are on the bridge that we can really see the big picture and strive to be proactive – creating our own future. It is too late if we leave our analysis of possible risks until they are upon us – from the bridge we can guide our business around obstacles and at least approach possible threats from a strategic perspective. If we are to guide our business from the bridge then we need: a) reliable people in the engineroom who know what they are doing and where they are going, and b) self confi dence and self belief to be the captain of our own ship. It is likely to cost us, we will need to be prepared, we will need to keep visiting the engineroom, we will need to let go and we will need to fi nd the time to lead. All small businesses must protect themselves as best they can against likely risks and challenges. To do this we buy insurance, we get advice from our accountant, lawyer or bank manager; we keep good records; we pay attention to health and safety, we pay our ACC levies . However this, on its own, is not enough. Much of this is about us providing an ambulance for our business at the bottom of the cliff. We have to build the fence at the top. We have to plan ahead: Identify the strengths of your business, the things you are really good at. Then look after them and build on them – they are your business foundations. Select two or three weaknesses or areas that you need to improve and take action. Stop procrastinating – do something! Get into the habit of opportunity spotting. You can only do this from the bridge – opportunities for growth and development are all around us and most of the time we miss them! Identify the things that could threaten your business. Assess your risks – then create simple action plans around each one. Ask for help. Celebrate successes. Praise your people, engage them as opportunity spotters and risk assessors! For many business owners everything is important and urgent and they are in constant crisis mode. This is stressful, very hard to sustain and unlikely to be profi table. Obviously we have to deal with crises from time to time, especially those that are caused by external issues. When these happen we and our businesses have to be fi t and healthy. We do however have to be aware that we do not create those crises by our own poor leadership, lack of planning or lack of vision. If we do, no amount of insurance will help us! In a diffi cult trading environment the temptation is to hide out in the engineroom but the most important business need today is to stand proud and alert on the bridge providing direction and compelling leadership for staff and customers alike. Chris Elphick is a Wellington-based business mentor, coach and trainer working throughout New Zealand and the Pacifi c. See www.chriselphick.co.nz RESEARCH, CONSULTING AND LABORATORY ANALYSIS Aquaculture research Aquaculture impact assessments and consents Biosecurity and pest management plans IANZ accredited seafood laboratory Fisheries assessments and management systems Adaptive management plans CAWTHRON INSTITUTE Ph +64 3 548 2319 info@cawthron.org.nz www.cawthron.org.nz MAY/JUNE 2012 ■ NZ AQUACULTURE ■ 13 VIPP.AC4 45