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Coaching – can it help you and your business? October 21, 2008

Posted by businessgrowthmastery in Entrepreneurial, Mastermind Group.
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It’s official, coaching is now a billion dollar industry experiencing explosive growth and it’s here to stay!

So says the Executive Coaching firms!

But my question is whether it can help you and your business. Just because the vast majority of CEOS and senior Executives of the worlds largest firms take advantage of regular coaching, how can this be translated to the needs of owners and leaders within small to medium sized firms?

In a nutshell, I believe that your needs are equally well served through the use of a Coach. Leadership, Financial Management, Team Development, Performance Management, Effective Sales and Marketing and Exit Strategies are common themes raised by growing businesses.

are common themes raised by growing businesses.

Almost every challenge a business owner faces can be addressed in one of these six areas. The good news is that Coaches have the answers.

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Our Olympic Success – what can it mean to your business… August 26, 2008

Posted by businessgrowthmastery in Entrepreneurial, General, Mastermind Group.
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I’ve been away on leave for the last few weeks, hence no recent Blogs. Whilst relaxing, I’ve been taking in the Olympic Games – what an amazing experience for so many different reasons.

Who would have thought that China would put on such a super games – the challenge to London to better it is massive.

The GB Team have exceeded probably their own expectations – a massive well done to everyone within that team – they have done us all proud.

Whilst watching the games and being in London when the ‘Host City’ was handed over, I started to think about what as business owners we can learn from this and I remembered a Podcast that I posted back in May – it’s probably worth listening to again if you haven’t already.

Here it is….

Business Growth Mastery Podcast

Please let me have your comments.

How will the Credit Crunch affect your business? July 16, 2008

Posted by businessgrowthmastery in Economic Environment, Financial Management, General, Leadership, Mastermind Group, Operations.
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As always with this type of question, there is no straight answer, other than – it depends!

However, in economic downturns, there are as many winners as there are losers. The question you should be asking right now is – in which camp do I want to be?

 

 

There is a saying that “when the going gets tough, the tough get going” and this has to be your mantra if you want to be one of the winners.
It is no good complaining about the state of the economy – there are enough people doing that. It is no good blaming the banks -they’re still open for business and for good business propositions, there is always money available.

However, the days of cheap money and a queue of people waiting to help you refinance are long gone and good riddance I say.

So what can you do to ensure that you are one of the winners and that you continue to deliver exceptional growth within your business?

For one, take these five simple steps;

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it depends!Undoubtedly, the impact of the credit squeeze, the increasing price of borrowing and the continued hikes in the cost of raw materials are having a big impact on business globally.

9 ways to improve cashflow in your business! July 11, 2008

Posted by businessgrowthmastery in Entrepreneurial, Financial Management, Leadership, Mastermind Group.
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Of all the business tips I’m asked about, one of the most frequest realtes to how to improve cashflow. As you will realise, cash is king – without it, you’re dead! So it is vital that you implement a structured approach to improving the cash position within your business.

Incidentally, my response to the question is to point clients in the direction of the “9 steps to improving cashflow” – see below;

Implement the following 9 ideas to improve the cashflow within your business;

1. Use cashflow sales checklists.

For sales people, get them to ask every single customer to make another add-on purchase with the one they’ve already made. A great way to do this is to have a shopping checklist of what the customer could buy.

2. Use cashflow payment checklists

. For your administration team. Have a checklist of your customers and when their payments are due. Set up reminder e-mails/SMSs/and faxes for each customer to ensure their payment is received on time…. Read more

 

Thriving in a Downturn – Part 3 – getting your head right! July 11, 2008

Posted by businessgrowthmastery in Entrepreneurial, General, Leadership, Mastermind Group.
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I recently held a tele-seminar on this topic and was amazed at how many people in the audience didn’t grasp the importance of “getting their head right” when looking to succeed in business and drive growth within their business.

The seminar considered the impact of the ‘Law of Attraction’ on buiness sucess and highlighted a four step process to improving your future prospects – I’m in the process of setting up a download of this seminar via the website – www.businessgrowthmastery.com – so if you’re interested – keep an eye out.

It is probably wort reiterating the four step process here so that you can all start to implement it now;

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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 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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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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