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James, an entrepreneur running a recruitment company and marketing agency, walks through why he's rethinking his business plan. He covers his workout routine, how he plans to scale, and what profitability actually means to him.
James, an entrepreneur running a recruitment company and marketing agency, walks through why he's rethinking his business plan. He covers his workout routine, how he plans to scale, and what profitability actually means to him.
So start of January, that's the first workout of the year done. It was tough. So start of January, that's the first workout of the year done. It was tough. Haven't been to the gym for two or three weeks now, so it was tough getting back into it. But it's important and still a habit. You obviously see a lot of people in gyms in January, they're always full and by the end of January they're always petters out because people don't have the consistent habits that they set themselves. Accountability is important as well to make sure that you. I don't have a gym partner, but if you've got a gym partner, it's quite good to have one because it's quite important to have that accountability. So stay tuned for the next one and make sure you're in the gym because health is important. So now, because it's Monday, it is.
Time to go to my coffee shop.
And I've got a couple of favourites in and around this area that I go to. A mixture of Starbucks, Cafe Nero. I've already had my Costa for the day. I am going to be planning a little bit more for quarter one in terms of of my recruitment company and also the plans for the marketing agency in 2020.
So I always feel it's really important.
To take a little bit of time out the business. So every Monday I try and have Monday off, but it's not really off, it's just off from being in the office and doing the operational stuff to make sure that I can think strategically around the business, a lot more thinking time and a lot more planning as well. So I'm now here getting my weekly car wash, so do that normally, sometimes on a Monday afternoon. So I just came off the phone to another business owner who runs an agency and he was talking about his frustration because he used to have an agency that had over 50 staff and now it's went down to under 20. And he's had a lot of stress, frustration, anxiety, trying to grow and scale past that figure and he actually didn't really make a large amount of profit in the year as well. So it makes you realise that like, just because you have either high revenue or a high volume of employees, it doesn't necessarily mean that that is success. So you need to reevaluate your business plan in terms of making profit first. A lot of these companies, like Twitter, Netflix, yes, they make no money, but they're very heavily private equity backed. When you are a small growing business, it's important to protect your profits first.
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