The Director’s Diary – April 2017

New Chairman Of The Board Appointed!
07/03/2017
cover image DNDP: Bridging the Digital Skills Gap
DNDP: Bridging The Digital Skills Gap
25/04/2017
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The Director’s Diary – April 2017

Update on DNDP

We have been extremely busy here at DNDP; our new Digital Marketing Agency is rapidly taking shape. We have been carrying out market research and have sought advice from some fantastic consultancies.

Most recently though, we have been working our way through applications to find the right people to join our team. I can now reveal we have successfully recruited our Digital Manager, our first Content Writer and we have also hired an intern. Fantastic additions to our team!

We are now hoping to launch our Digital Network for Disabled People, exactly 5 years after I registered Delivered Next Day Personally with companies’ house: 29th May

Fellow Entrepreneurs: What worries are keeping you awake at night?

On another note, the last few months I have had many conversations with fellow social entrepreneurs that started their businesses at roughly the same time as I started DNDP.

The conversation:

Hi, how are you?

I am good, still loving what I do and making a difference. How about you?

Working all the hours under the sun and still loving what I do too. BUT! Cashflow is keeping me awake at night. What is keeping you up, what are you worrying about?

Exactly the same; CASHFLOW!!

This is a common conversation amongst my friends and fellow social entrepreneurs. We love what we do and, it is an extremely exciting time for Social Enterprises in Scotland. However, we get focused on helping others and forget to help ourselves.

Controlling cash

Managing cashflow is essential:

  • We need to ensure that sufficient cash is available for investment by not tying up cash in stock unnecessarily
  • We need to ensure procedures are in place for chasing up outstanding debts
  • We need to have control of cash outflows in relation to the size of the business, especially if you employ people. Our staff are our assets and we must ensure that we don’t put them under pressure. So, making sure they can be paid on time is important, after all they have their bills to pay as well!

Business is hard!

But, it can be extremely rewarding too (if you get a good night’s sleep and understand what work/life balance is all about). Don’t get caught on the merry-go-round; ask for help if you need it. There are many people just like you and I who are going through the same situation! We are all here to help each other 🙂

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