Elaine Ferguson – Top Ten Tips

Elaine has a BA in Accountancy and Economics and is a member of the Institute for Chartered Accountants for Scotland.

Elaine Ferguson

1. Meticulously manage

Meticulously manage and forecast your working capital requirements and cash flow, ensure you plan ahead for any funding requirements

2. Inspire your team

Inspire your team with great leadership, involve everyone in the goals and targets of the business, foster mutual trust

3. Prioritise financial management

Prioritise financial management, keep key management information up to date and easily available

4. Learn from your mistakes

Learn from your mistakes. It is inevitable that you will make mistakes but it is important that you learn and do not repeat them.

5. Review your strategy regularly

Focus on the activities you need to perform in order to move the business forward

6. Think laterally to solve problems

If you have a problem think about how you might solve it in different ways and don’t give up. Involve others in the process too as they may have ideas that you have not though about.

7. Focus on how your customer sees the business

If we look at the business from the customers point of view rather than our own it keeps us focused on what they need. This keeps your business up to date and relevant

8. Employ experts when you need them

Don’t try to do everything yourself, know your strengths and weaknesses

9. Recognise the importance of strong governance

A problem with legislation can affect the whole business

10. Have fun

The more you enjoy it the more success you will have

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