Business owners – it’s lonely at the top

• Posted onAugust 31, 2016

Peter Mardon – Head of Company Commercial Law

One of the greatest challenges faced by business owners is isolation. Just making that decision to start your own business can be isolating.

Your business reflects you, if things go badly that is a reflection on you. However, try to look at things positively: you have the power to make things go right and if things do go right that too is a reflection on you.

Business owners need support but some support might be “too close”, such as family and friends who may be supportive but will step back from offering the critical feedback that you need. Other support from Government agencies and some professionals may be “too remote”, too general and without a true understanding of who you are and what you want to achieve.

At WSP Solicitors Peter Mardon has been acting for business clients for 25 years and is proud to be associated with some of the most successful companies in Gloucestershire. Peter is privileged to have been part of their journey through the business lifecycle: from that initial seed of an idea, through start up, growth and exit.

WSP know that entrepreneurs that are feeling isolated need and value good professional support from somebody who knows them, knows their business and cares about them and their business.

Your professional advisers, for example your bank, solicitor, accountants, etc. should care too. Do they know what you are trying to achieve in your life and in your business? Do they visit your business and understand it? Are they available as a “sounding board”?

Of course, to a certain extent loneliness is self-imposed. Sometimes tough decisions have to be made and having that element of separation from your employees, suppliers and customers is necessary. You might have to dismiss an underperforming employee or change to a more reliable supplier or refuse orders from a customer who pays late or is unreasonably demanding.

The journey through the business lifecycle can be a lonely time, but is ultimately rewarding. You will make mistakes but you will also have successes. Having good professional advisers who are accessible will help you avoid (or at least learn from your) mistakes as well as find and exploit opportunities.

The Company Commercial Team at WSP Solicitors knows that success in business is never straightforward – or strictly 9 to 5. So when things get complicated we’re on hand with legal advice to help you deal with them.

To get in touch to discuss your personal circumstances please email petermardon@wspsolicitors.com or call 01452 411601.