Three ways to address business problems

Most business problems can be addressed in a big and bold way, in a small and sweet way or by a bit of housekeeping. As individuals we have a natural inclination to choose one of those three ways.

Housekeepers prefer to keep the current solution but tidy it up a bit. So a business looking to free up some cash headed by a housekeeper will put its energies into, for example, chasing up outstanding debtors.

Small and sweet types like to improve the current solution. These guys make simple changes that are clever but don’t rock the boat.

A business headed by a small and sweet type looking to free up cash may, for example, move the standard invoicing date to earlier in projects.

Big and bold types like to turn the current situation on its head. These guys change the way business is done.

A business headed by a big and bold type revolutionises the business’s operating cycle to free up cash.

These are the guys that change the business model so that customers pay up front before any work is done.

Big/bold, small/sweet and housekeeping are all valid ways of addressing an issue but if you always use one approach you are limiting your options.

The big and bolds miss the quick wins while the housekeepers neaten the issue rather than solving the problem.

To help you broaden the way you think about solving issues:

1. Understand your natural style. When it comes to taking action are you inclined towards housekeeping, small and sweet or big and bold?

2. Consider options for solving issues across the three dimensions. Housekeeping, small and sweet, and big and bold.

Julia Bickerstaff’s expertise is in helping businesses grow profitably. She runs two businesses: Butterfly Coaching, a small advisory firm with a unique approach to assisting SMEs with profitable growth; and The Business Bakery, which helps kitchen table tycoons build their best businesses. Julia is the author of “How to Bake a Business”  and was previously a partner at Deloitte. She is a chartered accountant and has a degree in economics from The London School of Economics (London University).