The McKinsey 7S Framework

How effectively does your business operate? Are some areas of your business pulling in different directions? The ‘McKinsey 7S Framework’ can help you to create an effective business.

In the late 1970s Thomas Peters and Robert Waterman at the Consulting firm McKinsey & Company developed what became known as the ‘McKinsey 7S Framework’.  The model was created to:

  1. Diagnose how organizations operate.
  2. Advise people on what particular elements of their organization they should change.
  3. Advise how any changes made should be aligned with one another.

The McKinsey 7S Framework

The model divides an organisation into seven areas or ‘elements’. There is no hierarchy of the elements because they […]

Managing Your Small Business Cash Flow

Cash flow is the life support system of your small business because every purchase your business has to make depends on it. How effective is your small business cash flow management?

Here are 8 keys for managing your cash flow.

Have Good Financial Systems

You need to know how much cash you have, where it has come from and where it has been going.

  • Reconcile your bank accounts regularly.
  • Have a disciplined approach to recording all expenditure.
  • Find out how to get useful reports out of your accounting software.

Have a Realistic Cash Flow Forecast

Develop a cash flow forecast based on historic payments and receipts that […]

Work Life Balance in Your Small Business

How is the work life balance in your small business? Do you own your small business or does your small business own you?

Here are 5 questions to help you judge whether you’re getting the balance right.

Question 1: Are you still in control?

Not being able to influence what happens to you is stressful but sometimes it’s just because you have handed over control.

  • Take responsibility and take control back.
  • Don’t firefight, manage your workload by planning ahead.
  • Use calendars, to-do lists and other work management tools so that you don’t have to take work home in your head.
  • Practice saying ‘no’.
  • Put healthy boundaries in place […]

5 Questions to help you understand your Small Business

Small Business QuestionThe ancient greek maxim “Know thyself” is one that you should apply to your business. It is too easy to think that you understand your small business when really you have just become familiar with it.

It is for a good reason that while a child grows they question. To question is one of the most powerful tools you have and it is built into every one of us. When you stop questioning you stop growing.

The following 5 questions are an encouragement to start growing again.

 

Small Business QuestionWhat is […]