Real Business

It's the biggest question facing all businesspeople: when to turn off your smartphone. But Timpo has the answer...

Q: I'm considering moving towards "just-in-time" production so we can reduce the costs of holding stocks and improve cash flow. But I'm nervous about glitches in the system – and letting customers down. How do you balance stock and working capital at Timpson?

To improve our working capital, I'm thinking about banning cheques in all our stores – they only add to the delay with payment. Have you done this? And if not, why not?

Topics: Finance

Q: Many of our large clients are only willing to do business on the basis that we agree to their (ludicrous) payment terms. This means we're on terms we can't afford, simply to keep the business – and it's impacting our working capital. Help!

Topics: Finance

Q: One of my line managers have shortlisted three candidates for a marketing position. The standout candidate is a female in her early thirties who has openly admitted that she'd like a family soon. To hire or not to hire?

Topics: Management & HR

Q: I'm expanding my retail chain into three new UK cities this year. Do you lease or buy your stores – and how do you decide on the best location?

Q: We’re launching a new brand next year and I want to bring in some marketing expertise. Should I get a full-time employee or outsource?

Topics: Sales & Marketing | Management & HR

Q: I’m considering share options for my staff, but where do I draw the line? Should I offer share options to directors/senior staff only, or to all employees?

Topics: Finance | Management & HR

Q: My sales team performed really well in our last financial quarter so I took them for a celebratory night out. But the bill is three times what I expected. Is it bad form to ask them to contribute?

Topics: Management & HR

Q: I'm a (fairly well-off) business owner fed up with being taxed so heavily. The non-dom life appeals and I'm thinking of moving to Monaco. Should I leave the UK?

Topics: Management & HR

Q: How do I know I can trust an employee with the keys to the office?

Topics: Management & HR

Q: I’m currently recruiting for two sales positions. I have a shortlist of ten applicants. What activity can I give them, as a group, that will highlight which pair works best together?

Topics: Management & HR

Q: I used to know every single employee by name (and even their birthdays!), but it gets harder as the firm gets bigger. Any tips on keeping the “entrepreneurial” culture alive?

Q: One of our clients hasn't paid us for the work we did four months ago, despite a flood of letters/emails/phone calls from us. They're one of our biggest customers and I don't want to wreck the relationship. What would you advise?

Topics: Finance

Q: I need a large cash injection to build an extension to our factory in Yorkshire. Would you recommend debt or equity?

Topics: Finance