Straight-talking answers to business questions - the examiners might hate some of this!

I just love the regular series in the Telegraph in which business questions are answered by John Timpson, the Chairman of retail group Timpson. Here is yet another superb selection of three problems solved!

Where is the best place to locate a retail business? Answer: next to a Greggs store - because their property department have a knack of chosing the very best-performing retail spots. If you find yourself next to a Poundland or a Cash Convertors, then it might be time to start worrying.

Should a family business forget long-term succession and bring in some “professional” managers? Answer: no. Business qualifications are well and good, but you can’t teach someone to be an entrepreneur and family businesses enjoy many advantages including long-term decision-making and a more caring leadership style.

Will budgeting and business planning for next year (2012) have any effect on the profit I will achieve? Answer: no - you will make much more money by picking the right people, creating a great culture and choosing a successful strategy. Budgeting and planning is a mug’s game. Just focus on performance compared with real figures (e.g. last year) rather than playing fantasy games using a spreadsheet.

Love it - simple, straight-forward business advice which certainly rings true based on my experience. Ok, so it might have some of the business examiners tut-tutting - but we’re talking real-life business here rather than the land of make-believe.

Well worth a read and perhaps setting some of the questions as a discussion task for students. Give them the question and ask them to come up with a suitable reply (say, no more than 100 words). Perhaps their replies ought to be a little more balanced, including some nice “depends on” factors.