As a Finance Business Partner, I have a comprehensive view of our financial landscape. However, it’s the collective efforts of teams across the business, that drive the different segments, each contributing to the bigger picture. Owner Mentality is a fundamental pillar in our organisation Every part of the organisation must embody an Owner Mentality to ensure we achieve the greatest possible commercial success. I’d like to highlight the importance of accuracy in budgeting. This is crucial for maintaining stable margins. By planning ahead - especially for marketing, overheads, and one-off projects - we can reduce unexpected fluctuations. A consistent, disciplined approach helps us stay resilient and better handle unforeseen challenges.
Owner Mentality EXAMPLES
Owner Mentality TOP TIPS
ARE WE GETTING THE BEST VALUE FOR MONEY? Longstanding relationships or familiar recommendations can sometimes cloud our judgement on value for money. We may stick with higher-cost suppliers despite more competitive alternatives offering similar quality. Where appropriate, it’s worth exploring other options to ensure we’re getting the best value for the business. DO WE HAVE THE RESOURCES IN-HOUSE? Once a tool or service is deemed valuable, the next step is to ask: can we deliver it in-house? A great example is the recent move to host the Hachette Learning Supersite internally - a change that is expected to save over £50,000 annually by leveraging internal capabilities. DO WE STILL NEED IT? IS IT STILL USEFUL FOR THE BUSINESS? Some tools or services were adopted when internal capacity was limited, especially in areas like project management or marketing. Over time, these can become legacy expenses, continuing out of habit – and fall into the category of “we’ve always had it.”
At the halfway point of the year, we can already see the positive impact of Owner Mentality across the business. Through careful management of staff and administrative costs we’ve achieved savings of nearly 15% compared to budget as of the end of May. One key focus from David Shelley was the more prudent use of gratis copies. While effective as a promotional tool, they carry a real cost in terms of both time and resource. I’m pleased to report that spending on gratis copies is An excellent demonstration of cost-conscious decision- making and ownership across the business. £37,000 lower than at the same point last year!
EVERY POUND COUNTS Think like an OWNER
ADENUSI
It’s important to regularly reassess their value. Are they still being used, who benefits, and is the cost still justified?
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