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How to manage excessive pay demands June 18, 2008

Posted by businessgrowthmastery in Entrepreneurial, Financial Management, Leadership, Mastermind Group, Vision & Strategy.
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Alastair Darling, the UK Chancellor has come out today warning that trade unions guard against a ‘disastrous return to 1970’s style inflationary pay demands.

He is right to be concerned as the global economy is feeling the impact of inflationary pressures on oil prices, the cost of food and increasing energy costs. Although the official inflation rate in the UK is quoted at just 3.3%, it is well established that if you take just these three core items, the the rate would be well north of 8%.

So as a business owner, how can you guard against excessive pay demands?

On the one hand, you need to ensure that you pay a fare salary, otherwise you are likely to struggle to retain top talent. Having said that all the research that I have seen is that money is lower in the priorities of the employee than it is in the perception of management.

Let me explain.

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Thriving in a Downturn – Part 2 – 10 steps to enable you to exploit new opportunities in global markets June 18, 2008

Posted by businessgrowthmastery in General, Leadership, Vision & Strategy.
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In the June 2008 edition of Director Magazine, Jane Simms highlighted the need for UK Directors to seize the chance to exploit new opportunities in global markets.
I, like her wholeheartedly believe that there are amazing opportunities for even the smallest operator to take advantage of the perspection of UK business in overseas markets.

However, the biggest hurdle that you will have to overcome in doing so is not the red tape, the long distances or even the time differences. No, the biggest hurdle that you will no doubt have to overcome is your own self doubt.

There are 10 simple steps that you can take today to ensure that you take control of these doubts

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New directory – get yourself a free listing June 13, 2008

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Take  look at this – http://www.businessgalore.co.uk – just launched – really easy interface. Get yourself a free listing whilst they’re available

Thriving in a Downturn – Part 1 – How would you like this next year to be 14 months long? June 12, 2008

Posted by businessgrowthmastery in Entrepreneurial, Leadership, Mastermind Group.
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Time is something that we all have equality in. No one has any more time than anyone else. However, what if I can show you a way to give you an extra 2 months in every year – what do you think you’d do with this extra time?Successful people in all walks of life put a high value on time – it is after all, the one thing that once lost can never be reclaimed.

So, if you are to thrive in the coming weeks, months and years it follows that you need to really maximise the time that you have available. Success tends to come from working smarter rather than harder. I’m not a strong believer in burning the candle at both ends – you need to get a good balance between focused effort and recuperation. The question is how you can improve your time management skills to allow you to achieve this.

Before we look at a proven way to improve your time management skills, let’s look at the 7 key time wasters;…

 

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The ‘R’ Word – is it all doom and gloom for business? June 12, 2008

Posted by businessgrowthmastery in Economic Environment, Leadership.
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I’ve been away for a couple of weeks and have come back to hear even more mentions of the dreaded ‘R’ word in the media. It seems that not a day goes by without another so called expert blurting out why the ‘end is near’ and the economy is in freefall.

If we are not careful, we will all start to believe them and then we will be in trouble!

In every depression, recession, downturn, disaster and slow down, there are as many businesses that grow and prosper as there are those that go to the wall.

I believe that it is up to you which way your businesses go.

Just think, if your competitors are struggling and start to believe the hype, there will be lots of opportunities for you to go at. Are you ready to take advantage?

Over the next few days and weeks, I will use this blog to introduce helpful hints and tips that will help you to not only survive this so called ‘recession’ but to really thrive.

So bookmark us now and we’ll ping you to let you know our latest post is issued

AIM – promised land or nightmare destination? June 12, 2008

Posted by businessgrowthmastery in Entrepreneurial, Financial Management, Leadership, Vision & Strategy.
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Ever since the Alternative Investment Market was established in 1995, it have become the listing of choice for ambitious entrepreneurs. However, many business owners have found the market to be too intrusive for them to develop their business. So, what do you need to know?Close on 1700 business trade on AIM, with a combined value of £88bn – so it is certainly the promised land for raising funds!

The attraction of AIM to many business owners is the ability to rise funds for future growth of their business. Although AIM is a regulated marketplace, its regulatory framework is significantly less rigorous that the main market and as such AIM is attractive as there are;…

 

 

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Virtualise your business! June 12, 2008

Posted by businessgrowthmastery in General, IT/ Technology, Operations, Vision & Strategy.
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What does Virtualisation mean to you?The latest business fad – another in a long list that includes total quality management, Y2K etc. Well, many people think this way.

I certainly don’t. Why?

Well for a business that has designs on growth, you should be looking at all options available to you to allow you to scal up your operations in the most cost effective way possible. I believe that operating within the Virtual world allows you to do this by providing you with access to the very best technology available on a ‘pay as you go’ basis.

No up front installation costs, no up front acquisition costs, no ongoing mintenance costs, reduced risks, improved performance – these are all benefits of moving towards a virtual IT structure.

To cap it off, you don’t need to employ the ‘geek in the corner’ to ensure that it all operates properly.

As long as you have good internet connections – broadband at a minimum, you can now access all of your technology requirements via a range of web enabled solutions…

 

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Create your ideal life now June 12, 2008

Posted by businessgrowthmastery in Entrepreneurial, Leadership, Mastermind Group, Vision & Strategy.
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What are you planning to do in 2008 to ensure that you create your ideal lifestyle?I believe that all business people should look to create something that allows them to deliver their ideal lifestyle. This should be your reward for the risks that you take in becoming a business owner.
If you can’t, then are you really getting the rewards to reflect the risks that you are taking. If the business can’t survive without you, you own a ‘job’ not a business! If this is the case for you, do something about it now!

However, lets assume that you can create your ideal lifestyle – what does it look like?

Do you know?

Make a list of the top 10 things that you enjoy doing?

How many of these do you undertake on a regular basis?

How can you adapt your life….

 

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Navigating your way through the credit crunch June 12, 2008

Posted by businessgrowthmastery in Economic Environment, Entrepreneurial, Financial Management, General, Leadership, Mastermind Group, Vision & Strategy.
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As we move through 2008, the world economic situation is uncertain at best!
We are being constantly bombarded with talk of recession or at the very best, a significant reduction in the economic growth. This, coupled with the ever advancing strength of the Chinese, Indian and Russian economies amongst others are creating a period of uncertainty and worry within the main Western economies.What does this mean to you, as an owner/leader of a business that you want to see grow?
Does it have to be all doom and gloom?
What can you do to ensure that you continue to thrive?

Here is my 10 point plan for maintaining your growth aspirations during periods of economic uncertainty;

1. In any situation, whether good or bad, there are always opportunities. Think about your business model and consider what opportunities exist for you to adapt your product/service offering to meet a need that has only arisen as a result of the uncertain outlook.

2. Review your vision for your business – is it still valid? Is it still desirable? The New Year period tends to be a time for reflection. Reflect on your vision and adapt it to meet the present situation. Is your vision for the business still enough to drive you to take repeated action, day in, day out? If it isn’t, understand what will and do it. Any lack of action now will have a major impact on your ability to achieve your ambitions.

3. Look at every part………..

 

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When does a business need professional support? June 12, 2008

Posted by businessgrowthmastery in Entrepreneurial, Financial Management, General, Leadership, Vision & Strategy.
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An article, written by Rupert Merson, posed the question “when is it right for a young business to recruit a finance director?”Like Rupert, I believe that upon appointing their first finance director, an entrepreneur will realise that they are running ‘the’ business, rather than ‘my’ business. It is a time when they ‘grow up’ and realise that for their success to be sustainable, they need to be willing to share responsibility for the big decisions.

 

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