We’ve Hit Our Teens!
This month, at Clear Thinking Consultancy we’ve hit our teens and we’re 13 years old this month, so Happy Birthday CTC!
A lot has happened in the 13 years since 2010, so much has changed both professionally and personally, not to mention having two little ones a year apart!
The best thing about running the business is to see all the amazing charities we have worked with, who are stronger, more resilient and financially sustainable and able to deliver their magic for longer and to help more people.
It’s not been easy and we’ve definitely experienced so many challenges along the way, but with challenge comes learning and growth, both business and personal.
We’ve Come So Far
Since starting the business, we have come so far and this year has started so well as we already have two new exciting charities to work with in 2023.
As I was reflecting about how far we’ve come, the epic failures we’ve had, the amazing things we are all so proud of, I started writing my lessons learned.
Here are 13 take-aways from me as a small business owner.
There’s more than a little in common between me and my clients: small and medium-sized charity leaders.
In no particular order, simply the way they came into my head:
Thirteen Lessons Learned
1. Focus on your specialism.
We started off trying to be all things to all (small) charities. Once we’d carried out some assessments of what small charities really needed, and focused on those things, we shifted from small to medium sized.
2. Delegate and trust.
Not everyone will do things like you and that’s ok. But for as long as you’re carrying out the roles that some-one more junior could do, you’re not doing the things that only you can do.
3. Automate and just save yourself the bother!
It’s embarrassing how long it has taken us to get a CRM in place. PS, if you sign up to our newsletter, you’ll join ours. Click to join our newsletter.
4. Avoid the elastic band syndrome.
You secure a big contract, expand and then don’t sustain it and snap straight back? Developing or putting in place managers and having performance systems in place. Monitor delivery without doing it yourself frees you up to focus on sustainability.
5. Know your financials.
It’s critical to know exactly what that per person per figure is that you have to add onto what you get paid. Make sure you know what you’re paying out to other to cover the overheads. Your company is never too small to do it. Nothing is more frustrating than celebrating a contract and then working out you’ll get paid the least! Take your time and cost it right!
6. Or calculating the cost and then accepting or asking for less.
In 2022, we applied for four contracts for which we came in over budget, because the approach we proposed worked out that way. So we asked for it, we acknowledged and explained it. Our proposals kicked a** and we secured EVERY. SINGLE. ONE. OF. THEM.
7. Take the emotion out of decision making.
My stepsons bought me a wonderful book the Christmas-before-last filled with strategic decision making tools. I adapted one from The Decision Book: Fifty Models for Strategic Thinking, to arrive at a 3 question tool for deciding whether to accept (or apply for) a contract. Is it a good fit for us? Does it really align with our vision? Can we get paid our day rate? If not, is there any other reason we should do this work? Not all work is good work – this has been a game changer for my business.
8. Be prepared to say “No”.
This was a hard one for me because as a consultant. I was used to clients often asking for work to start immediately. After one too many late evenings and missing out on fun family weekends, I had to get better at my boundaries. I had to consciously recognise that if saying “yes” to my clients would mean saying “no” to my family. It was time to make the change and make sure it didn’t happen anymore!
9. Renegotiate deadlines.
Another tricky one for me. I would often hear myself say “but clients pay for consultants to get it done, with no excuses!” I have found that clients pay for, and expect flexibility. So I encourage you to renegotiate your deadlines when you need to!
10. Always manage expectations from the outset.
So you’re not clambering to set them once you realise you were speaking at cross purposes. It’s easier to do once the misunderstanding has occurred and then you just get good at knowing what to cover upfront.
11. Work with bigger budgets.
An Away Day is a written summary as an output could easily gather dust and I’d have no idea. An Away Day with a summary plus a follow up to support the charity to implement the actions arising from the day is less likely to gather dust. We’re interested in impact and how we can maximise ours. We also advise our charities to have a threshold for grant applications below which they should not apply. The reason is because the amount that goes into it is disproportionate to what they would get to delivery, monitor and report. That also counts here!
12. Acknowledge the inevitable change to your role as the size of your company increases.
Be intentional about stepping into what that requires of you. It’s increasingly about relationship management, portfolio (and people) oversight and new business.
13. Here’s the most important point – always back yourself!
Getting to where we are hasn’t been plain sailing. After having my two boys, I felt like I didn’t recognise the sector I came back to. Unfortunately I once got knocked back for a contract that paid less than half my usual day rate! I ugly cried, before shaking myself down and taking out a whacking great loan to invest in myself with a business coach, and my business with a video and new website. Within 60 days we had secured two huge contracts – one with a National Lottery charity and one with the largest family foundation in the country. As the saying goes, I’ve never (since) looked back.
Like other teens we are always working on our learning, our resilience, and our flexibility. We’ve seen how far we’ve come and we’re so excited about what the future brings!
There you have it, my 13 takeaways from 13 amazing years of Clear Thinking Consultancy.
Thank you to everyone who we’ve worked with and who we will work with in the future.