Many business owners I meet have the same wish:
“ If only I had a few more hours each day to get things done!”
The reality is, there’s only ever going to be 24 hours in a day! If you are working for more than 50 hours per week, some aspect of your life is going to be suffering, whether it be your health, family, fitness or enjoyment. It’s a situation that’s not sustainable long term. Read the rest of this entry »
There is one fact in business that is always true, no matter what business you are in: you will never build a great business all on your own. The bigger and better the business you want to build, the bigger and better the team you will need around you. Read the rest of this entry »
With Hallowe’en season upon us again, I thought I’d write about something a bit scary – the BHAG, or “Big, Hairy, Audacious Goal”, to give it its full name. The term BHAG was coined by Jim Collins and Jerry Porras in their 1994 book, Built to Last: Successful Habits of Visionary Companies. A great BHAG can build a strong team spirit, foster innovation and really stretch you and your team to perform at the highest levels, and achieve so much more than you ever imagined you could! Read the rest of this entry »
It’s easy to think that super successful business owners are born that way – the likes of Bill Gates, Alan Sugar, Richard Branson. But great leaders aren’t just born that way; they’ve learnt how to be successful, and the ONE thing they have in common that makes them so successful is that they have a goal… a vision… or a ‘WHY’ as Simon Sinek describes in his best-selling book, Start with Why.
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The quickest way for any business to make 10% more profit each year is to put its prices up by 10% each year. But if it were as simple as that, then we’d all doing it, wouldn’t we? The reason we don’t make regular price increases is that we have the fear that if we do so, we are going to lose our customers. Read the rest of this entry »
A question I am often asked is: “what is the most common mistake business owners make when they are trying to grow their business?” Well, there are a multitude of factors that will hold back business growth. Not having a clear vision, failing to set goals, inadequate planning of time, not generating enough sales or having an ineffective marketing strategy to name a few. But by far the most important factor is the lack of financial understanding that some business owners exhibit. Knowing your numbers is absolutely vital, if your business is to thrive – or even to survive! Read the rest of this entry »
Marketing is one of the most important but least understood skills for business owners to master. Many businesses owners seem to grow their businesses without really knowing which aspects of their marketing (if any) are effective. And even more importantly, they don’t know what alternatives they have to maintain that growth, should there be a downturn in their market place. Read the rest of this entry »
Just imagine if your business was like a Formula 1 Team – how successful do you think you would be? On race day, would you be the Team Manager, completely in control of the situation and calmly orchestrating events from the safety of the pit wall? Or would you be running around, doing every job to make sure it is done properly and getting in everybody else’s way? You may feel good because you are busy helping, but the end result is that the car goes out long after all the others, and with only 3 wheels on! Read the rest of this entry »
When thinking about growing their business, most business owners will focus on increasing the number of customers, selling more products or services and making more profits. But if they try and achieve that, they are destined to fail. Why? Simply because they are concentrating on the end results, and not on the factors that they can actually have an effect on. I’ll explain below! Read the rest of this entry »
Do you have some customers that are frankly a complete pain to deal with? Maybe they argue about price, or they don’t communicate with you (except to complain). Perhaps they don’t pay their invoices without being chased, or they don’t give you referrals. Chances are they just generally stress you out, and take up more of your time and energy than is warranted.
The fact of the matter is, you’ll always get the customers you’re willing to accept. Well, maybe now is the time to raise your standards, and get some better customers! Read the rest of this entry »