It’s all about Revenue!
Nov 20, 2013

If you are a small business particularly just starting out, it is all about revenue. Your accountant will tell you (very wisely) to focus on profit and I’d agree. However when you are trying to grow and get some mass, revenue can be just as important. I’m not saying you should do business for a loss or just for the sake of getting revenue, but I am saying that growing your customer base and getting cash flow going is key.

Of course it also depends what the vision of your business is. If you plan to stay small then the importance of profit goes up. If you want to have a team and enjoy some leverage then the focus of your efforts should be on growth and acquiring revenue.

I make this point because I see many small business owners getting caught up in the day-to-day operations and not spending enough time and effort on sales and marketing.

Think of it this way, if you had enough revenue to hire people to do your operations, then you could spend your time in other areas. And this is the catch 22 for small business. How do you spend time on revenue generation when you also need to spend time on operations? This is not a simple answer and will depend greatly on the business and the owner’s skillsets. The short answer is to get the low skill activities off your plate and free up at least 30% of your time to invest in sales and marketing. Even if you take a short term hit in profits due to the extra expense of an admin person, the time gained will quickly generate far larger profits.

Stress Your Team Out!
Oct 24, 2013

Well not really. Check out this short video that talks about why more mistakes happen when things are quiet.

Does Diet affect Postive Mindset?
Oct 3, 2013

We hear so much about healthy eating and good food diet ... how about our other diets? Like Mental and Spiritual. These are vital human systems that also need feeding. The problem is, most of the time we feed them by default. I.e. they just get whatever life throws at them.

I say be as intentional with your Mental and Spiritual Diets as you are with your Physical Diet. Here's my shortlist of favourites for my Mental Diet. I'd love to hear yours.

  • The Art of Exceptional Living – Jim Rohn
  • Think and Grow Rich – Napolean Hill
  • How to be a Winner – Zig Ziglar
  • The Power of Positive Thinking – Normal Vincent Peal
  • YES Attitude – Jeffrey Gitomer
  • Success Principles - Jack Canfield
  • How to Win Friends and Influence People – Dale Carnegie

And my Spiritual Diet consists of:

  • clarity on my purpose
  • Making sure my activities are aligned with my purpose
  • Engaging regularly in activities I enjoy.
  • Meditation

What else do you do here?

The Top 5 requirements for Success

The Top 5 requirements for Success
Jul 24, 2013

Necessary Elements for Business Growth

Reflecting on the past 10 years of coaching, if I had to pick my top 5 requirements to achieve success, here's my list:

 

1. Time

Your ability to plan, prioritize, know your 80/20 (which 20% of your actions give you 80% of your results) and delegate will be key to your success. Only time spent doing valuable activities counts towards success. No-one achieved their goals by focusing on filing and bookkeeping (unless you are a bookkeeper 🙂 )

 

2. Energy

Physical, mental, emotional, spiritual. Hours worked is not the measure. It is the effectiveness of those hours. Are you alert, motivated, passionate and physically energized? Knowing your limits, how and when to recharge is a personal recipe. Know yours for best results from your hours invested.

 

3. Knowledge

You can only do what you know. And often what we ‘know’ is not always the right thing. Sometimes unlearning is the right first step. Keeping an open mind is crucial and avoid falling into the trap of thinking you know. You are more likely to do this the more successful you become. Continually invest time and money in growing your knowledge base. It is said that knowledge is power. Not quite. Knowledge is potential power. Maximize your potential power by growing your knowledge.

 

4. Confidence

To be gained through continuous small wins. Growing your knowledge; being very intentional in your self-talk; being selective who you hang around; these are all ways to grow your confidence. Growing confidence is a gradual process. Be consistent and intentional. The payoff - an increase in confidence has an exponential effect on your results.

 

5. Taking Action

You could excel in the first 4 points but if you don’t do anything then the results are zero. If you apply yourself in the base 4 then take massive action … results are guaranteed. Not always at first, but over the long run your path will be in the right direction. Remember the line to success is not straight. When things appear to be going sideways despite your work on all 5 points, remember to have faith in the principles shared here. They ALWAYS work in the long run.

 

What is your top 5?

Nature vs Nuture

Nature vs Nuture
Jul 21, 2013

Biology of Belief by Bruce Lipton

The age old question of which has the greater influence - nature (genetics) or nurture (how we are raised). It is common belief that while the nurture part of us is certainly real, you cannot argue that genetics "is what it is". That is - your DNA determines what you are.

Well if your open to some new ideas (and concrete science) check out this video by Bruce Lipton. Bruce used to be a stem cell research scientist until he learned what really makes us tick. The video is an hour long and will leave you with a renewed belief in your ability to create your own outcomes ... despite your genetic coding. Enjoy.