On A Mission

A few weeks ago, I wrote about a feel good factor and how it can add a buzz to a business. It falls in line with my current thoughts which go back to when DrivenByQ was new in the market and what was different in our approach. We had no money, few resources, no systems and very little in the way of strategic planning but somehow we grew and grew quickly.

I’m not sure if all businesses go through an analysis of what they did in the early years to such a fine degree? Maybe they do, maybe they don’t but what I do know is that whatever worked for us back then was raw and instinctive rather than planned and carefully executed.

Perhaps having structure makes things more efficient and it reduces the risk of failure? It’s something I’ve been thinking about quite deeply. In the end, I have come to the conclusion that efficiency is an engineered function within a business and needs to be separated away from what an entrepreneur feels in their raw unadulterated enthusiasm.

Let’s face it, our business runs like a finely tuned Swiss watch but having that level of clinical excellence is boring. What we really need is an overwhelming desire to have an adventure - an adventure that everyone wants to be part of with some risks and excitement along the way. So, who is with me on a quest for success?

Extra Curricula Activities

Once upon a time, I giggled at the conversation I had with a lady whose husband was an airline pilot. She told me how he would complete an eight hour flight, come home, switch on his computer and then do an hour or two on Flight Simulator. She just didn’t get him and thought he was slightly odd.

Sadly, I have to confess I am a bit the same. After a day of driving I will sometimes get home, switch on the Xbox and do a few laps on Forza. Just like the pilot, I can’t get enough of driving. With a games console though, I can drive a different or exotic car every day. Better still, I get to push to the limit and have some real fun, knowing the environment is totally safe.

Modern simulators are very good because in reality it is rare that anyone has the chance to drive £250,000 worth of supercars for real, let alone exploit their true potential and staggering performance - unless of course you get treated to a ‘real driving experience’, which coincidentally, I did last week.

My partner kindly bought a voucher to drive a Ferrari 360 and when I arrived other cars were available too. I could not help but indulge in the opportunity! First I sampled a Lotus Elise, then the Ferrari 360 and finally, the full 428bhp of an Audi R8. Later when my partner asked if I enjoyed myself, I replied to her ‘Oh yes’ but to be honest, I think I might need another go just to be absolutely sure.

Experience

Did I speak too soon? No sooner did I say our finances were in a good position that the UK economy has gone back in to recession! In a way, I’ve always been slightly paranoid that a double-dip might occur. Maybe every business owner feels the same way but do I need to be so concerned? Could things really get as bad as they were a few years ago when we lost 65% of our turnover?

When I think back to April 2009 and how the recession affected us, there were many factors putting us under pressure. First we had gone through a period of rapid growth with increasing numbers of customers using account facilities; secondly we registered for VAT and it meant a lot of changes in our accounting systems; third we had tiny overdraft facilities; fourth our old booking system was on its last legs and lastly; we were launching our new booking system with the biggest change and investment we had ever made. It took all of our savings, removed any financial safety net and required a migration which consumed considerable.

Admittedly, the booking system was 50% grant funded but the level of uncertainty surrounding the financial support was stressful because it removed control from our company which made it very difficult to plan. In addition to all of this, our old (home grown) booking system was struggling to cope with the volumes of work we were putting through it and needed constant attention from myself to keep it running. What is more, our drivers were accustomed to a level of income that they expected to continue and questioned my decisions constantly as they saw their earnings decrease – it was unpleasant to say the least.

Sometimes when I think back to three years ago I giggle and question if I was completely mad? Looking at our situation today, we are in a much more comfortable position. First, we have the experience as a team to take tough decisions (and react quickly). Second, we have considerable credit facilities should we need them. Third, our cash flow is significantly better. Fourth, my time is more flexible and readily available to deal with emergencies. Fifth, our IT systems are stronger, more modern, incredibly efficient and externally managed. Sixth, our payments to drivers take less time to manage. Seventh, we have early warning systems should anything change unexpectedly and finally - above all else we are settled.