How to Maximise Business Profitability I’m going to take a stab in the dark and guess that you’d like to make more money in your business. Assuming I’m right, I’m going to share with you the starting point on that journey that I’d estimate 80% of small business owners don’t understand. And that is their … Read more
Right up there with rejection, the ability to overcome sales objections is perhaps one of the biggest sources of fear and frustration for salespeople. And the truth is, it should be the exact opposite. You see, objections can be your biggest buying signal. When you understand the beauty, and the impetus, behind them, you can … Read more
On September 30, Jamie was interviewed by Eric Dye of the Entrepreneur Podcast Network about dealing with growing pains and managing the internal and external challenges that come with growing a successful business. With tips from our business coaching toolbox Jamie painlessly describes what specific characteristics and skillsets are needed for an entrepreneur to have successful business growth. Give it a listen:
TIP: Invest in you. Your business is a reflection of you. If you want to grow your business and stay one step a head, then you need to grow you. And to find the place to start, look to where your stress is. Stress is usually created by uncertainty, i.e. not knowing how to handle a certain problem. That might be the place you need to learn some more or become more capable in same way. Listen to Jamie’s interview with Curtin FM for the skinny on the productiviy apps that can help you manage your time and harness business growth
It’s important to know what your goal is and how you’re going to execute it, but sometimes one of the missing ingredients is having the emotional leverage or clarity around why you’re going for something and the drive to see it through. This clarity of emotion is a business strength you don’t want to ignore.
In the pursuit of any goal, there’s ups and downs, but it’s when things are challenging and going against you, that you need those emotional reserves. In this video I’m not going to walk you through the actual planning process—there’s a cracker of a guide HERE that teaches you how to do that—but rather, we’re going to go through some east steps to tap into those emotional reserves when you need them. What you’ll need to complete this exercise is a blank piece of paper, divided into three columns and enter your information as follows:
Write your goal in the middle column. The only guideline here is to make sure you are picking S.M.A.R.T. goals. That is, goals that are Specific, Measurable, Achievable, Results-oriented with a Timeframe. SMART goals are critical in the planning process, particularly so you can gain a better picture of what success for that goal looks like in reality.
In the left-hand column, write all the “WHY” reasons which relate to the goal. Behind every goal is a feeling, an emotion – and the emotional result that you want to achieve through that goal. Don’t skip this step or shake this task as a feel-good, fluff piece that doesn’t have any basis—nothing could be further from the truth. What you want to distill here are all the emotional reasons you want to achieve the goal. For example – if the goal is financial and you want to pay down your mortgage faster, list the emotional benefits you will gain by doing so (more disposable income to travel, more time with family, helping your children financially—whatever it is that fuels your fire). It is the feelings you will get from achieving that goal that will sustain you in the low times.
Finally, in the right-hand column is the “HOW.” Don’t worry about getting this column ‘right.’ The ‘how’ column is all about brainstorming. This is the place to list every possible way you can think of to achieve that goal (and you may need an extra page to do this—that’s ok!). Once you have an exhaustive list, you can go back, prioritize and figure out and ask yourself, “Which ones make sense?”, “Which ones do I have the resources/time/ability to do.” Etc…
From there, we advocate that you develop a structure to execute the plan and to help solidify your tasks and timelines. To do this, feel free to access our free 90-Day Planning guide which has all the tools and resources to help you develop and track your plan.
That’s it! The absolute importance of planning with purpose and emotion can’t be understated. The clearer you get on your goals, the more emotional leverage you have behind you to help you achieve those goals you’ve been dreaming of. Dream big!
Time to Watch: 5:56 well-spent minutesDo you have a current profit model? Have you ever wondered about which changes in your business will make the biggest impact on your bottom line? Is so, you’re not alone – and this is the right place to be to find out the answer. This video tells you, with real-world examples, how to determine the level of profit you’ll be able to realize through different changes to sales and growth patterns. If you’re interested in some related training, see our video “How to Create a Profit First Budget” for a step-by-step guide that goes into a bit more detail. Look, I get numbers are not the most exciting part about business ownership, but they are one of the most important.
If money is where you’re really struggling as a business owner, we have the tools to help. Now go out there and get amongst it! Cheers,
P.S. Don’t forget to stay in the loop with our latest rapid training videos on SalesUp!TV
When we started working with Adam he told us he didn’t have the time to measure stuff, let alone the time to compile and analyse the results. Adam’s situation is typical of many small business owners. While not all our clients say it to our face, we can see the anguish on their face when … Read more
Budgeting is not something most business owners would list as one of their most exciting tasks – and that’s ok, but it is necessary, and there is a way to build a budget that makes profit non-negotiable. Here’s how you can create a budget which helps you think differently about how you manage the expense side of your business, and will radically change your profit results.
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This video is NOT about how to get more referrals (well, not directly anyway) It’s about how to boost your level of trust with your clients or customers to become more referable. By identifying your best possible sources of referrals and building those relationships you will see a boost in both the quality and quantity … Read more
Time is a scarce resource, and when it comes to growing your business, where you invest your time can make a critical difference to your success. Here are some strategies you can begin to use immediately, which will allow you to free up at least 15% of your time. Can you free up 15%+ of … Read more