5 things I’ve learned running my own business: James Butcher, S4RB

James Butcher is director at Solutions for Retail Brands (S4RB) in Nottingham. Established in 2006, the firm creates and manages software solutions that bridge the gap between suppliers, retailers and customers. It works with a range of high profile clients such as Waitrose, Walgreens Boots Alliance and Walmart.

Here he shares the five lessons he’s learned in business.

Build the right team

Everybody talks about teams – however, I believe many only pay lip service to it. Often what they really mean when they talk about having the right team is having talented people around them. But I genuinely think it comes down to employing people with different but complementary skills and personalities. Get this right and they will continually educate and support each other, working together to ensure success.

Culture is not just people           

Once again, this is distinct from just employing the right staff. Instead, it is the way in which the values and aspirations run through the business. It includes how people act as individuals and as a team, and the way in which they work for the customer. I’m proud that this is something we have achieved at S4RB, and many of our team members have strong relationships with customers and suppliers that are both professional and friendly.

Client success

Far too many companies or individuals measure success on whether their product has been shipped and delivered. At the same time, if the client is left thinking, ‘what’s next?’ then you’ve not really added value for that customer. We make no secret of the fact that our own success is measured by the success of the projects we deliver for our customers. Our job really starts at the point when we deliver a solution – and we do our utmost to ensure it is the best it can be for them. When our clients return to us, it is a good measure of our achievements.

Employ a strong management accountant

When running a business, people choose to focus on cashflow or debtor days but they should also have a strong management accountant who understands the real position of the company.

. . . but do not absolve responsibility to your management accountant!

If the cardinal sin above is not really understanding your business, it’s just as much of a sin to abdicate to your management accountant. The person running the business should always be close to the numbers.