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Jerry Seinfeld’s 3 rules of life

Dec 10

Posted by Steve Gray in Excellence!, Franchisees, Franchising, Growth, Innovation and Creativity, Leadership, People!, Personal Development, Planning, Starting out in business | 2 Comments

Here’s Jerry’s 3 rules of life, pretty simple… so lets add some business thinking points to it.

Print it, use it, tick things off as you do them, make notes, add to the list, include some of these points in your staff training and see what happens.

Thanks Jerry lets see what happens now…

Bust your ass…

  • Work hard, work smart, if it’s not fun, do something else.
  • Following your passion, you will then want to do the work, in fact the work will be so enjoyable it won’t seem like work, you will be early and rarely late….
  • On something that will make a difference for more people than just you, you win they win.
  • On being exceptional, who wants to be mediocre? Ok so lots of people do, but why do you have to be…
  • Getting the next goal, and then the next, the journey of a thousand miles begins with that first step. The sense of achievement is a powerful drug.
  • Providing what the market place wants, you will soon be happy with the sales, they will be happy you provided what they want and those that work with you will be happy you thought of it.
  • Getting people to know about your business in the start up phase and then to come back for more of what you have, often.
  • To influence others in your circle of influence to be exceptional at all they do.
  • To surround yourself with great people who want to pass on great information you can all utilise.
  • Living life to the full, when the show is over it’s over folks…

Pay attention…

  • To the details so that you can understand the bigger picture from within. No point in having a business that no one knows what’s going on, especially you…
  • To planning. No plan no house, it should be the same in business.
  • To how you present what you have to the market place… Get great at marketing and sales, then do it with the rest of your team.
  • To the way you learn, then you will be able to pay attention more effectively.
  • To how others liearn, your role as a business leaer means you will probably do a fair bit of instructing on how things are done, so teach others in ways they prefer to be taught.
  • To the way you communicate, so get very specific about what you communicate.
  • To the way you listen… Be an attentive listener, that’s why you have two ears and one mouth.

Fall in love

  • With what you do, how you do it how your team does it…
  • With causing others to fall in love… with the job, the business, the customers, the service the products, their life, their significant others.
  • With life. Life is what we do day to day so we should get great at loving it.
  • With how others see the world. This level of fascination is from the old American Indian idea of “walking in another mans moccasins” it hlps to give us perspective.
  • With the people you surround yourself with. Are they all lovable? Are they all worth fighting for?
  • With the glory and beauty of nature. If the view is lousy, I wonder what you are looking at?

The business of red-hot core values

Dec 9

Posted by Steve Gray in Excellence!, Growth, Human Resource Management, Innovation and Creativity, Leadership, People!, Planning, Risk Management, The Board Room | No Comments

In business it’s too easy to fall into the trap of just doing business, then it can become a grind, the details become a blur and the idea of lifestyle enhancement as a value you wanted to chase can become minimal, in fact you may as well have just kept a job.

So where is the depth, the meaning that gives hope, strength, clarity, stamina, creativity, innovation and a whole raft of positive/emotive sensations?

These positive values are the core mechanisms that enable us to keep going even in tough times, to enable us to fall down and get up again, the resilience to bounce back, with a vengeance.

So here’s a loose definition of these “valuable business intangibles” as I see it, in this context. “Showing refinement, distinction and concern for the higher things in life.” This is where it comes down to the red-hot core values and some bigger questions to ponder in the business, and by individuals.

The points that follow are concerned with both team and individuals and how they connect or not. It’s about looking for and working with these distinctions to be able to create a business, which embodies these with a degree of ease and efficacy without having to consciously working towards them. So a degree of unconscious competence can kick in.

In reading the list, feel free to say, “If I had a business that had all these things I would be delighted, but it’s not going to happen today, nor tomorrow for that matter…” I appreciate this viewpoint and suggest the following… “You have these things in your business already, it’s a matter of ‘to what degree’ you have them”.

Your aim as the business-person would be to look at what you do in the improvements to your business that will add to the value of any of these. An example might be if you were wanting your team to service the customers more effectively, In chatting to them about the issue/s you might find yourself suggesting they be more tolerant, cooperate more with the customers and staff, show higher levels of respect and so on.

As you have just seen it may not be difficult to work with these as a group of items, but in isolation it might be. Note also some o the items are team based while others are more individual in their appeal and approach.

  • Honesty
  • Sensitivity to Others
  • Responsibility
  • Emotional Balance
  • Tolerance
  • A Deep Compassion for Humanity
  • Cooperation
  • Accurate Self Image
  • Respect
  • Development of self and others (for intrinsic and extrinsic value)
  • A Deep Sense of Mystery
  • Connectedness
  • Vision Mission – Personal and professional
  • Inner Peace
  • Freedom
  • Simplicity/Elegance
  • Strength – integrity
  • Holistic approaches to the development of – People – Environments – Culture/s

Taking a look at the list may be daunting, but I hope to show you ways to utilise each of these to enhance your business to be all it can be.

Finally, don’t think for a moment that this list is complete, feel free to add words you and your team might find that can be utilised to enhance the business further.

10-20-30 the planning guide for the rest of us…

Dec 8

Posted by Steve Gray in Excellence!, Finance, Growth, Innovation and Creativity, Leadership, Negotiation, Planning, Risk Management, Starting out in business | No Comments

I have been on about the Guy Kawasaki 10 – 20 – 30 planning device for a while now (since I found it in early 07) Well this week I had the good fortune to use it myself and have created a template to be used in Power Point.

Unfamiliar with 10 -20 – 30? It’s a simple device for pitching ideas, I see it as a way point in the planning process, not so much as an endpoint which seems so logical when you figure it being used to pitch ideas to investors etc. Ideally if you have a business idea I would STRONGLY suggest you use this to assist in sorting out its usefulness.

So it’s 10 slides presented to a max of 20 mins and the smallest text is 30 Pt. see I said it was simple… but of course there are fairly explanatory headings and some body text in it to assist you to make your pitch viable/useful. I feel sure you will be charmed by the thing once it’s used a few times.

The 10-20-30 power point business presentation

As you will see when you download the file, it is a plain old BxW, simple presentation. All you need to do is put the words in that fit for your project even the basic animation is done (when you view the slide show, you can click the forward button and see each point come up one at a time, how it should be, and not a whole page of text.)

I used it on an idea as a way to ‘flesh out’ a few things and in following the headings I found I was really challenged to come up with appropriate answers, after quite a while of cutting, pasting and soul searching I got it to a point where it seemed to work.

I see all sorts of possibilities with this. For pitching ideas to a boss on an area of business or a dept, which is not doing too hot, to put thoughts together for a business partner to look over, then of course to show info to prospective investors. These days when people pitch ideas at me I say to them to do this, then show me the result, thing is not one has actually done it (yet).

Those in the know, figure that’s because it causes people to look at things logically and not just emotionally.

Have a play with it, read it though, jazz it up with imagery etc and see what happens, I’m sure it has lots of uses, I hope you find the same.

Running on autopilot

Dec 7

Posted by Steve Gray in Excellence!, Franchisees, Franchising, People!, Personal Development, Planning, Risk Management, Starting out in business | No Comments

This is the seventh in a set of posts designed as a series to complement the initial post… Strengths in your business The aim being to provide a simple “How to” guide for people daunted by the prospect of “how to” as it can be too easy to read and say “Oh yeah that’s it, I need to do that”, and then forget it and let it go.

Automatic functioning (the skills are already known)

After a while of doing a task you can become competent at it, then at the next level become proficient, at this level, things can seem automatic. Do that with the basics of what you do in business and a solid foundation can be built for your enterprise. Teach others to do the same and the base structure can become much stronger again.

  • Recognise the things that are BASIC skills for your business and then train (often its informal) you and your team to do them well, (effective beats efficiency hands down.) Then find a person in your team that picked it up fast and see if they have the skill to put the process in writing so anyone can learn it.
  • Chunk the skills into groups so as you and your team learn higher level skills, the previous skills have become proficient and form a solid foundation.
  • Review the skills you and your team have at all levels and work to understand areas to be developed further. (Leadership and communication skills are often good examples.)
  • Work to make your business a lifelong learning exercise so your organisation can be highly flexible in what they do.

Getting an organisation to run on automatic may seem like an easy thing to do, and that’s often the challenge to be able to figure out what skills are simply hidden due to them being automatic and therefore hidden.

Hello?! Are You LISTENING?

Dec 7

Posted by Michael Crooks in Excellence!, Growth, People!, Personal Development, Starting out in business, The Customer Service Dept, The Marketing Dept, The Sales Dept | 1 Comment

I’m on the phone with a salesman from one of my suppliers. He asks me, “So, do you sell to any medical practices?”

“Yeah I do”, I replied. “I have some dentists and a periodontist.”

“Great!” he exclaimed. “You’ll be interested in our new stethoscope covers!”

Really, I think to myself. Let’s see, when was the last time I saw a dentist with a stethoscope. Oh yeah … NEVER!
He drones on. “So can I send you a couple samples. They’re really great and they can imprint their practice logo on them, and they keep dirt off of them, and … I cut him off.

“Sounds great”, I said. “You send them to me and I’ll see where it takes me. I look forward to getting them, I’m so excited. Wow! Stethoscope covers.”

What a moron. Sure, maybe he doesn’t know that a periodontist treats gum disease. But then again, he’s the one selling medical equipment supplies. And furthermore, why would a doctor want an imprinted stethoscope cover? The people who would see the imprint are already in his office. A better tactic would be for me to take the stethoscope cover to a business such as a pharmacy or health club that wants to get their name in front of those the doctor has access to. They’d imprint their logo and distribute them to doctor’s offices.

But here’s my real point.

How often are you so focused on selling what you have to sell … that you aren’t even listening to the answers people give you?

Have you decided what to do yet?

Dec 5

Posted by Steve Gray in Excellence!, Franchisees, Franchising, Growth, People!, Personal Development, Planning, Risk Management, Starting out in business | No Comments

This is the fifth in a set of posts designed as a series to complement the initial post… Strengths in your business The aim being to provide a simple “How to” guide for people daunted by the prospect of “how to” as it can be too easy to read and say “Oh yeah that’s it, I need to do that”, and then forget it and let it go.

Decisiveness (Either a thing will happen or it won’t, often the decision is the only thing that stands in its way.)

I was once told that the best way to become better at making decisions is to make the, right or wrong stand your ground and see what happens, before long you can become very decisive and develop the skills and confidence to live with the outcome/s.

  • Make lots of them even on little things, and see what happens, avoid the procrastination cycle of saying you will do it soon.
  • Check out the idea of “Whats the worse thing that can happen if I make the wrong decision?” then check to see if it really is that big a deal.
  • Ask others to make the decision for you (delegate) and check the results, you can be surprised just how well this one can work for you.
  • What is the difference between a person that is decisive and one that is not? Check out those qualities and ask if you can readily develop the skill/s or if you will need assistance, then do it!

Keep on going with the concepts laid out and put together a personal list of achievements made by being more decisive.

The journey begins and ends with you and your goals…

Dec 4

Posted by Steve Gray in Excellence!, Franchisees, Franchising, Growth, People!, Personal Development, Planning, Risk Management, Starting out in business | No Comments

 This is the forth in a set of articles designed as a series to complement the initial post… Strengths in your business The aim being to provide a simple “How to” guide for people daunted by the prospect of “how to” as it can be too easy to read and say “Oh yeah that’s it, I need to do that”, and then forget it and let it go.

Goals (If you know where you are going it makes it easier to get there.)

In the story of Alice in Wonderland the Cheshire cat sat in the tree smiling widely as Alice asked which road to take at a fork in the road, the cat replied “It depends on where you want to get to” The goals we set will assist us in finding the right roads to take and in business the wrong road can cost us dearly.

Setting goals is easy, making them a reality is a different matter again…

  • Get smart about your goals -  specific, measurable, achievable, realistic and tangible. If these can not be thought out readily you will find the achievement of the goal nearly impossible. Write out the details in DETAIL… leave nothing to chance.
  • Work on small goals first and build up from there. – Often these are the basis for a “to do list” and chipping away at the small bits will make the big bits come to fruition.
  • Take action, avoid talking about what you are “going to do” and get on and do it. The world loves people who take action.
  • Consider how well you have done with goals in the past… Easily achieved them or… make sure you build up these skills if they are a challenge, then you can get more automatic in setting and achieving them.
  • Use your calendar – set time lines for the achievement of the goals, then tick them off as they are achieved, the sense of achievement is often a cause for some small celebration.
  • Use a project plan – These help you to break up a big goal into smaller ones and fit the details to a time frame. There is specific software for this or  you can create a table in a word-processing that can give you the basics to work with manually.

Go get ‘em tiger should be your catch phrase at this point and with the basics of goal setting up your sleeve the results should follow on soon after that.

Conviction, have you got the all important edge?

Dec 3

Posted by Steve Gray in Excellence!, Franchisees, Franchising, People!, Personal Development, Risk Management, Starting out in business, The Board Room | No Comments

This is the third in a set of posts designed as a series to complement the initial post… Strengths in your business The aim being to provide a simple “How to” guide for people daunted by the prospect of how to as it can be too easy to read and say “Oh yeah that’s it, I need to do that, and then forget it and let it go.

Conviction (You are sure it’s a great product and or service, otherwise you would not be doing it… RIGHT?)

This is an important area of new business and project start ups. It’s the strength of conviction you have that will probably appeal to people when you are selling your concept/s. the question is what is it and how will you develop it?

If you are starting out the product and or service should be convincing, to you and your target market, if they don’t want it and you are not sure about it, then how will you have the internal fortitude to make it work? I guess the obvious thing is checking out what you have from all angles to ensure it has a fit in the right product and or service niche and also in the buying niche of the intended audience.

So how to build in it?

  • Test the idea with people who might understand, family and close friends may not… so go for independent advice (accountant, other entrepreneurs and so on) see if it does have a place in this world. Sure there may be confidentiality issues, but just remember if an idea is any good you will probably have to RAM IT DOWN PEOPLE’S Throats to get them to be interested. (at least in the initial phase). Also telling family and friends about it can set you up for failure if they think you have a “hair brained idea” and want to put it down to help you “save face.”
  • You have done the research so you might need to know find ways to present the concept. A business plan is one way to do it, but before you get in too deep, consider the basics. then jot them down in point form. What it is, how it will be done, what it might cost, who will do it, how much time will it take, where will this happen, why it fits to the niche you have sought out, how it is different from other concepts and so on… This will assist you to assess the idea first.
  • Look at others who have done this type of thing before, how did they get started? were they confident from day one, or… If they were not confident, how did they build that confidence? If need be try different short courses that may assist you to stand tall and tell the world about what you have, This might be public speaking and or personal development courses of some kind. Whatever you do make sure you are sure about the conviction you have to make things work well.

I am sure there are more points that this start up list puts forward, but really give it some thought so you can formulate things clearly in your head and then articulate them on paper.

Building stamina and resilience

Dec 3

Posted by Steve Gray in Excellence!, Franchisees, Franchising, People!, Personal Development, Risk Management, Starting out in business | No Comments

This is the second in a set of posts designed as a series to complement the initial post… Strengths in your business The aim being to provide a simple “How to” guide for people daunted by the prospect of “how to” as it can be too easy to read and say “Oh yeah that’s it, I need to do that”, and then forget it and let it go.

Resilience – stamina (The ability to keep on keeping on and to bounce back)

I have put these two together as I felt there was a natural attraction to both, they cross more borders for me than they stand alone.

Have you ever noticed that some people give something a go once and give up trying… or they say “it’s not for me” often without really giving it a go so they can develop the basic skills to a reasonable level to fully assess if they “have it or not”. have you also noticed some people can go “hard” at the start and then fade out too quickly. If that’s the case then the following points may assist you to understand the issues a bit more and possibly even be able to assist you in overcoming the issues in yourself.

  • Do some soul searching, if you have given up on things easily in the past, is starting a business really right for you? And is the ability to start out strongly and then fade fast an issue? It’s better to face this now than later when the stakes might be much higher.
  • Can you build your resilience? Falling down and getting up again is one thing, but doing it repeatedly might take it out of you. What qualities do resilient people have? and are they the sort of qualities you can learn… and how long can that take if it is possible for you?
  • Having the energy to run a race is one thing, but if you trip during the race that often saps some energy you might need for later. If a sports person can build their staying power by more exercise in a carefully worked out training plan, can you do the same? and how will the plan differ for your business prowess as opposed to a sporting scenario…
  • Check out the biography of business people, and look for examples of how they built their ability in these areas, then ask are these things you can implement? If not keep searching and asking for answers that “fit right” for you.
  • Know your limitations, then push them a little each time to build your capacity to go a little further next time.
  • Having support from others can help to build your resilience and stamina, its that cheer on as the chips are down, or a welcome “You do this really well” when you may be in doubt. this can come from, family, friends and associates and can make a big difference to the way you ‘handle things’ being aware of this, ask yourself, can I foster this so I can get more support? The short answer, yes…

Enjoy building your stamina and resilience, hopefully the “workouts” to get you there will be well worth it.

Preparation makes all the difference.

Dec 2

Posted by Steve Gray in Excellence!, Franchisees, Franchising, Planning, Risk Management, Starting out in business | 1 Comment

This is the first in a set of posts designed as a series to complement the initial post… Strengths in your business The aim being to provide a simple “How to” guide for people daunted by the prospect of how to as it can be too easy to read and say “Oh yeah that’s it, I need to do that, and then forget it and let it go.

Preparation (No plans no direction)

The topic of preparation takes into account research as well as plans, so lets look at these.

Many people in business make the error of not doing full research or think they know better than any research often going off a hunch they have a great idea that will bring them great profits. Fact is many people are throwing away thousands of $$ by not getting the research in the start up phase right.

Some research basics

  • Find out all you can about your competition, chart it on paper and figure out what sets them apart from the rest in your line of business.
  • Find out what the basic profit margin is for your business then figure out how much you have to sell to be able to make that kind of turnover, then break that down into a daily figure to see how much you have to earn.
  • Know what it will cost to run the business (find info on cash flow and make a LONG list of every aspect of your business and its expenses.)
  • Know if it’s legal, do you need special licences or registration to run the business, find out now, NOT LATER!
  • Chat to an accountant or solicitor about the right structure for your business, there are a few options here, pursue them and know the difference.
  • Get smart around business terminology, create a glossary of terms (Google that, there are bound to already be a few.)
  • Know your target market – focusing specifically on a group of people or types of businesses you want to target then find out how these people buy
  • In business (especially in the start up phase) you will be selling, ideas, then products and or services so do some research on the right sorts of sales methods and then practice them to build your skills in this area.
  • How much money is required to set the business up.
  • How long it takes before the business will make money (They rarely make money from day one…)
  • How will you pay your way in the start up phase? (a wage or similar…)

Planning

  • A business plan is vital so you have a guide to follow, it can be The Mini Business Plan or a fully blown complex one but have one ON PAPER, they are no good in your head.
  • The plan will at LEAST set out the goals you have for the amount of sales, the way the business will run (management) and the marketing.
  • Because planning needs to have goals set, find easy ways to make goals work (the SMART system works well.)
  • Make the plan usable, and make it the FIRST thing you turn to when you need to have an answer.
  • Use a calender a 12 month one even if it’s a photo copy of a 12 month diary page, it’s better than nothing. Then write in all the things that will happen from start up day.
  • Check out a bookkeeper to handle the accounts do you can focus on your business and running it right. Learn the bookkeeping terms and how they effect you. If you plan to do your own books, make sure with your accountant this is the best way to do things. Some will not accept your input of the info and prefer a bookkeeper (a professional) do it for you. (accuracy counts.)

There is a starting point for for your business preparation. I hope it makes things easier for your business planning phase.

Using Gossip As An Effective Management Tool

Dec 2

Posted by Michael Crooks in Excellence!, Growth, Human Resource Management, Leadership, People!, Starting out in business, The Operations Dept | No Comments

Got a note from my 4th grade son’s school the other day. Seems he and a small group were standing in line and were overheard making comments about “getting wasted” in reference to drinking alcohol. They were immediately hauled down to the principal’s office and verbally reprimanded about “inappropriate topics of discussion.” What’s sad, is that the children learned they must be very, very careful about expressing their thoughts for fear an adult will hear it and over-react and “get them in trouble”.

One of the few ways we can know what’s on a kid’s mind is by hearing what they say. Once we know what’s on their mind, an opportunity presents itself to have a thoughtful discussion on the subject mater.

“Hey, kids. You know that alcohol has devastating effects on the developing minds of smart young people like you. “Getting wasted” can get you into a lot of trouble. If you have any questions, I’d be happy to answer them for you.”

What does this have to do with business? Plenty.

While the common adgage is, “Loose lips sink ships”, I believe loose lips can also help repair ships.

How many managers and bosses are walking around clueless to what’s on in the minds of employees because the employees are scared to be frank, open and honest? How many business boats are sinking because managers and bosses have created an ATMOSFEAR instead of an atmosphere within their organization.

With the exception of slander, racist remarks and vulgarity, when employees feel they are free to express their opinions, feelings and yes, even doubts … bosses and managers can “catch wind” of potential problems, insights can surface and opportunities for thoughtful discussion are created.

For instance. A manager overhears or “catches wind” that an employee is complaining about the manager. Instead of jumping down the employee’s throat and dishing out reprimands — what if the manager asked the employee for a brief meeting?

“Thanks for meeting with me, Jim. I think you’re a great employee and you have a lot of potential. But I sense there’s something I may be doing that’s keeping you from really achieving your best. What can I do … or stop doing to help you?”

Are your employees working on the good ship Stifled Expression? Or do you have an atmosphere that allows you to take full advantage of what is referred to as the grapevine, viral communication or the arena of the overhead?

Ancillary, random communication among employees can yield golden opportunities to effectively and productively solve problems and keep your business afloat and profitable.

Do you have this kind of strength for your business?

Dec 1

Posted by Steve Gray in Excellence!, Franchisees, People!, Personal Development, Starting out in business | No Comments

I watched this afternoon as a bunch of people stood up, stepped forward and got the living daylights pummeled out of them. They stood tall and after a grueling 3+ hours of warm up exercises it was an incredible feat.

I am talking about Karate not a street fight… (thank goodness!)

What I witnessed was people from youngsters to mature age, male and female do battle. As I watched it occurred to me that these people had not just put a up their hand to say “Yeah I’ll do it” but firstly they had to put in the effort to attain the skills required, then went on to train to develop those skills and sparring techniques… Wow it was intense at the end to watch the sparring, seeing people let down their guard and get hit, some fell down and got up again even though there was “some pain!!!”

Watching this I was thinking of the parallels to business. (how could I not!)

  • Preparation (No plans no direction)
  • Resilience – stamina (The ability to keep on keeping on)
  • Conviction (You are sure it’s a great product and or service, otherwise you would not be doing it… RIGHT?)
  • Goals (If you know where you are going it makes it easier to get there.)
  • Decisiveness (Either a thing will happen or it won’t, often the decision is the only thing that stands in its way.)
  • Comfort zone stretching (An elastic band is only working when it’s stretched.)
  • Automatic functioning (the skills are already known)
  • Risk taking (all business is this, the further you go the more risks seem to ‘pop up’)

All of these personal qualities relate to business, it’s probably this list and a few other points that cause sustainable and profitable businesses to make the grade.

Why is it then that there are businesses that fail, despite people knowing these guidelines? and why is it that even people that have put in the effort only get so far and stop?

Firstly it’s one thing to know the guidelines, and another thing entirely to putting them into action. Secondly some people achieve a goal and stop right there, not sure what to do next.

All of these great points take commitment, and often it’s as easy as turning up each day and learning something new, putting in the effort to plod on and look for ways to make improvements at each step.

If you want an exceptional business, then these guidelines should give you the start to a great business.

Bad Acting Is Bad For Your Business

Nov 27

Posted by Michael Crooks in Excellence!, Human Resource Management, People!, Personal Development, Starting out in business, The Customer Service Dept, The Marketing Dept, The Sales Dept | 2 Comments

I called my stockbroker a couple weeks a go. I had a question. I wasn’t sure who to ask for because it’s been about a year or so since I actually talked to anyone there. Anyway, I finally get “my guy” on the phone. What a phoney!

This guy doesn’t know me from a fence post but acts like he just saw me yesterday. He ACTS like he cares about me, but his act is so bad no matter what he’s saying it sounds like this:

“Haaaaayyyyyyy, how ya do’in? Boy It’s nice to hear from you! I haven’t a clue who you are — but as long as you called — I’ve gotsome really great ideas for you to consider that will suit you perfectly, what-ever-your-name is. We should sit down and talk. I’ll pop some information in the mail to you. You look it over and give me a call. Cause, hey! I don’t remember your name, so there’s no way I know your phone number … as evidenced by the fact that you never, EVER hear from me.”

I got the info in the mail and I’m like, “Whatever!” I didn’t call him. Course, he didn’t call me. Until three days ago … I called him.

“My guy” wasn’t in. Someone took my name and number and said “my guy” would call me back. He hasn’t.

I’m moving my account.

Sure, maybe he wants my account and the fees that go with it, but it’s obvious he doesn’t care about my account or me. And no, sending me a birthday card every year doesn’t make up for treating me like I don’t matter the other 364 days a year.

Here’s My Points:

If the only communication I get from you is a birthday card, then the card simply calls attention to the fact that I never hear from you.

If you make me feel like the small account I am … I will never become a bigger account … at least not your account.

If you really don’t want my business … fine. But if you really do want my business … then genuinely treat me like I matter.

How vital is your business success?

Nov 26

Posted by Steve Gray in Excellence!, Growth, Planning, Risk Management | No Comments

You do what you do in business because… it pays the bills, it fulfills a lifelong dream, it gives you the lifestyle you want, it gives you something to do where you are the boss. The list can probably go on. and on… but in all of this reasoning is it vital to you that your business succeeds?

Many will say “well its  important to me, but vital? I’m not sure…”

So how will you figure out if it’s vital to you?

Lets try this, can you do without it? If the business was taken from you, would you feel the loss badly? and is the loss likely to be short or long term?

I guess if it’s a long term sense of loss then it is vital to you.

Now let’s think about the success of the business and its link to that vitality. Success in this sense being, “working towards any worthwhile goal” so it would relate to the goals set in the business and the ability for you and your team to achieve them.

Therefore…

  • Make sure your team has the right resources at its disposal to do the job at hand to make the goals come to fruition.
  • Invest in the training of you and your people so you can all grow with the business.
  • Explore lots of creative and innovative ways to make your business and the teams stretch so you can all know you put in a top effort to find more ways to succeed other than the ‘normal range’ of options.

There will be many things you will discover about the vitality of your business when you start to look, so may I suggest  you start looking today.

Who are you supporting?

Nov 25

Posted by Steve Gray in Excellence!, Growth, Human Resource Management, Innovation and Creativity, Leadership, People!, Personal Development, Planning | No Comments

In the crazy mixed up world of business we can often forget why we are in business… of course it’s to make a profit but what kind? is it just money or are there other profits to be had?

Other profits might include

• People learning more and benefitting society by utilising their new found skills and abilities.
• Suppliers to your business having to grow their business because your business provides them with the need to create more product due to increased sales on your behalf.
• Local community growth due to your business providing increased capacity for the local community to spend and earn.
• More community support due to your business providing executives on loan to not for profit groups.

I am sure there are many more ways you are supporting the community and those near and dear to you, often I find businesses that realise their impact is so vast they start to smile a lot wider, and get a warm feeling in their heart. It’s not just the cash, its the wider community benefits as well.

You may not plan for it or you might want to plan for it… Either way when it happens it makes the whole idea of business take on a fresh new meaning.

Pretend Role-Playing Solves Real Problems

Nov 18

Posted by Michael Crooks in Excellence!, Innovation and Creativity, Personal Development, Planning, Starting out in business, The Marketing Dept, The Sales Dept | No Comments

“Daddy”, my 11 year old daughter excitedly exclaimed. “All I have to do is sell seven Holiday wreaths and I earn enough money to go on the school trip to the amusement park at the end of the year!”

As I reviewed the info packet with an advertising professional’s eye, I casually asked, “What do the wreaths look like?”

My daughter pointed to a photocopied, black and white line drawing that was totally void of warmth or cheer. I looked at the drawing and immediately became depressed. Then I became irritated.

The ability of a businesses to “think things through” is paramount to launching a successful promotion or for a non-profit to launch a successful fundraiser. Unfortunately, no one thought this wreath fundraising thingy through.

Without a photo, you’ve got 11 year-olds trying to sell warm, Holiday cheer by showing people a crude drawing that evokes about as much warmth as sticking yourself in the eye with an icicle.

One of the best tactics you can employ to help you “think it through” is to role-play the steps of your promotion or fundraiser. Walk it through. Use props. Have fun and actively look for problems or difficulties. If possible, role-play the activity with an outsider, someone who has had nothing to do with the planning of the activity, event or promotion.

I saved a client an embarrassing moment just the other day, because I helped her “think it through”.

Jan asked me to print up some raffle tickets for a fundraiser for the church. She wanted “Need Not Be Present To Win” printed on the ticket. No problem. Then I asked her to explain to me how the raffle would work — verbal role-play.

“Well, we’ll draw the first ticket,” she explained. “The person with that number comes forward and chooses the prize they want. Then we draw the next ticket on down the line.”

“That’s great, Jan,” I replied. “But how does that work with the whole, “Need not be present to win” thing?

A moment of silence was punctuated by a blank stare. We then revised the drawing protocol to facilitate the attendance issue.

As for my daughter’s wreath fundraiser? All I can say is, “Thank God” for grandparents, aunts and family friends who don’t have the heart to say “No”. In two hours of going door to door my daughter managed to sell one wreath. That’s when we invoked the friends and family tactic.

Then my wife asked me how many we were buying. I noted she said, “how many” not “are we”. I then quickly role-played in my head a scenario where I said, “none”.

Boy, that wreath sure looks nice on my front door.

The people service continuum

Nov 15

Posted by Steve Gray in Excellence!, Growth, Innovation and Creativity, Leadership, People!, The Customer Service Dept, The Marketing Dept, The Sales Dept | No Comments

In the service stakes, there are those who connect with the people they need to serve and those that quite frankly wish the customers would go away. There are of course levels within that and as always I would like you to focus for a moment on the top end.

People who serve in those lofty heights, have a few qualities which makes them stand out from the crowd, but don’t let that descriptor fool you, you probably will not see anything different in the way they interact with the customers to give away the fact, that they have this high end skill.

In simple terms what they do is often invisible, it has great depth, it is a level of intimate connectedness. This allows them to encourage, influence, involve, engage, be in alignment with, but above all it allows them to be effective with the customers.

It also means customer loyalty is built in a way that makes it hard to erase, these customers do not fade away, they become advocates of what the service person has provided for them, which is much more than a product or service, it’s that intimate and deep connectedness all great relationships have.

The customers who come into contact with this exceptional sales or service person, will follow them if they leave the company.

For the company to ensure this type of customer service person is attracted and retained, they need to carefully look at their culture and the environment they provide.  In short they need to become employers of choice.

For the employee that has or wants to develop this skill level, they need to make sure they listen actively, find ways to connect genuinely with the customers (and most probably their team mates).

Great service is its own reward, and the return of customers time and time  again due to the intimate connectedness of the service people, is what the sales and service game is all about.

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My Top 5 Low Cost Marketing Ideas by Emma Rhoades (Guest Blogger)

Nov 8

Posted by Guest Poster in Excellence!, Starting out in business, The Marketing Dept, The Sales Dept | 6 Comments

Whether you are in business by yourself, or employ a couple of people, every business will benefit from low cost marketing. The following are some strategies you can use to expose your business.

1) Article writing. This will not only ensure you become an expert in your chosen field, it gives you great exposure for your business. Once you have chosen a topic to write about, ensure your article includes lots of tips and ideas that readers can take away to put to use.

2) Strategic Alliances. This entails forming partnerships with other businesses that target the same market as you. For example, a baby photographer, a baby clothes shop, a baby bedding business etc. All 3 of those target mothers with newborns, and can work together to ensure referrals are passed on.

3) Newsletter Swaps. Working together with other like minded businesses as above, can also mean swapping spaces in each others newsletters. Ensure you put a good offer that each business can give to their database. This will help you to grow your own. Just approach another business and ask to swap. Be careful that your databases match up in numbers. It’s no good approaching someone who has 2000 on their database if you only have 100. Make it win – win at all times.

4) Press Releases. Extremely valuable tool- only if you have something to offer the media!! Too many times I’ve seen people get a press release written, only to find that the media deem it un-newsworthy! Have an event, or tag onto a special occasion on the calendar.

5) Networking. Online forums, offline events are always extremely effective tools- provided you don’t join up just expecting customers. These are to build your credibility, learn off others, and basically to get your name out and about. Expect to give your time and expertise- and don’t expect a customer every time. Networking is about having fun, meeting new people and developing a reputation.

Emma Rhoades owns advertising business Diva Promotions. She aims to give women with their own micro business highly targeted, cost-effective advertising campaigns. Visit www.divapromotions.com.au today to book into your next campaign and start growing your business! Emma can be contacted via the website, admin@divapromotions.com.au or 1300 76 36 76.

Leave the juggling to jugglers…

Nov 1

Posted by Steve Gray in Excellence!, Growth, Innovation and Creativity, Personal Development, Planning, Risk Management, The Board Room | No Comments

In business it seems like we juggle a whole bunch of things, from finances, planning, to marketing and operational issues and lots in between. I often say it’s about how well you juggle as to how well you do in business, however lets take some pressure off for a while and imagine if we stopped juggling. What would things be like?

Example if we outsourced the finances to a bookkeeper -  handed the marketing to a marketing company, and so on… It would leave you to focus on one or two things instead of multiple things. Imagine having a clear focus on your plan, aims, objectives, and GOALS… It would free up your time and therefore it suddenly makes sense.

Henry Ford was one of the first to say “If I want to know about marketing I call the marketing people…” He did okay… I am sure there are many others in the same boat, outsourcing these tasks and creating more time for themselves.

So ask yourself, what can I give up or delegate and profit time wise, so I can create better lifestyle options. I hope it entices you to at least think about it.

Excellence is a state of mind…

Nov 1

Posted by Steve Gray in Excellence!, Personal Development, Risk Management, Starting out in business, The Customer Service Dept | No Comments

I don’t mind stating I feel less than excellent. I have some quotes to do, some work to do, some people to chase, some calls to make, bills to pay, $$ to chase and frankly I don’t care if it all gets washed away in a great flood (or any other disaster for that matter.)

We all have our down days, but at the moment I am swamped by all sorts of minor details and they are driving me nuts. My answer, do things one step at a time and let the rest hang for a while.

Okay I am feeling “fluey” sore throat, headache, sore joints and all the rest but that’s not the only thing on my mind (list too numerous to mention here or waste your time with…)

Lets face it it can be too easy to say “I provide excellent customer service”, or “satisfaction is our business” or any one of a thousand other customer service clichés. But if you are feeling lousy the truth is they can all go to Hades…

So after a “Nana” nap late yesterday afternoon and a restless nights sleep, some light work this morning I feel like I am slowly getting back some mind space so I can head back towards excellence.

Your brain can shout excellence all it likes but if the body is unable or not willing then that changes things all together.

Activity and decisions, there effects on your business

Oct 29

Posted by Steve Gray in Excellence!, Growth, Leadership, Negotiation, People!, Personal Development, Risk Management, Starting out in business | No Comments

Have you ever thought about the activity and decisions that takes place in your business, or in your life for that matter? Let’s get a handle on things to explain more about what I mean.

Active and inactive – It’s either one or the other and not much in between, of course at the either end there can be a lot or a little of each.

Reactive and proactive – the other aspects to activity one being positive and the other negative.

A situation takes place, e.g. an employee makes a mistake, a proactive stance could be “Well you made a mistake, did you or are you able to learn from it?” reactive could be “YOU DID WHAT! what will that cost us!!! Oh No!!!”

An inactive stance would be to do nothing and an active stance is to do something. The question is how do you make the decision and do you think much about it?

Okay enough of the basics, which way you turn with this can have a solid bearing on outcomes in your business, in the case of staff if they keep getting reactive responses from you on all issues, after a while they will not tell you anything. On the other hand if you are always proactive they can (in time) see you as a “soft touch” a person that always sees the positive even though it may be doing great damage to the business.

The flexible approach is to be able to flip responsibly between each area, you could choose to do nothing, something, react or be proactive. Lets pick another example, a person slips on the floor of your shop, you could do nothing (inactivity) and perhaps act as if it did not happen. Yet if you react and tell them off for not seeing the puddle on the floor it could go against you as well. A proactive stance might be to offer them assistance (but probably avoid mentioning that it is the companies fault.) and see if they are okay.

The choice is up to you, so you hope the decision you make is the one that is the best option all round.

Here’s the point about all of this, it’s about making decisions and often snap decisions at that. Many people say making decisions is hard and that can be true, the challenge is to make more of them (even poor ones) so that you get used to making them often and therefore get comfortable with making them.

Once comfortable with making decisions you can check consciously if they are reactive, proactive or inactive. Then in time you will probably make more of the right decisions automatically.

Rich with the gifts of life

Oct 27

Posted by Steve Gray in Excellence!, Growth, Leadership, People!, Personal Development, Planning, Risk Management, Starting out in business, The Board Room | No Comments

Business can be fickle, some succed, others fail, some just plod along making just enough to struggle on even though the market might be very buoyant.

In the end many will say business is just about money. Yes and no… I like to think I get more than just money out of what I do. In many cases I get a great deal of satisfaction out of being in business.

I recently came across a summary of the success classic Think and Grow Rich by Napoleon Hill, its simple, practical and highly effective… the thing is you need to know that richness is not about money… its more about the things. Things like how you feel, what you won, what you control, what you develop, what you create, Its all there you just need to know the simple formula for making these things happen.

Hills book was based on the success of many people and using extensive research he was able to distill the results into this classic.

Knowing that it’s easy to implement helps, but you have to be able to overcome procrastination, other peoles intervention, fears at all levels, above all you have to accept abundance is the norm, not the exception.

Stop now and think, am I rich with the gifts of life, or am I merely existing and chasing my tail… If you are ready to take on a full and rewarding life then do so by reading or re reading the classic.

The business success points

Oct 26

Posted by Steve Gray in Excellence!, Franchising, Growth, Planning, Risk Management, Starting out in business, The Board Room | No Comments

Over time I come up with a list of business success pointers and change it, the order does not matter much I think all the points are usually of equal importance.

Then I think about it some more, weigh that up against things I see and arguments I have in my head about how things are and what I am seeing. So for now as at Oct 07 this is “The list”.

  1. Effective systems - Production – Management – Marketing – Risk management. No not systems to create a bueracracy but systems to create elegant flows of the right information and resources to the right place at the right times. Checklists, operational procedures etc.
  2. Excellent products and services – With the right ones in place the profit margins are easy to sustain and even build on. Think apple’s Ipod, it really was just another MP3 player, but the design and the hyoe compbined made it a stand out performer, everything else (generally cheaper) paled into insignificance. It is clearly No 1 in the market If you were able to produce stand out products and back it up with service second to none then you would clearly have a siner.
  3. Clear aims and strategies - Marketing – Operations – Management, from profit to HR issues clarity of the aims and strategies (the how to’s in the system) will (and does) make every bit of sense, your people will know what to do and when, and chances are you let them develop the aims and strategies and so they are hell bent on bringing them to fruition. Make sure innovation and leadership are a part of the aims and strategies, if not add them NOW, business requires organisations that can and do make positive use of these two.
  4. Clear mission and vision – And I don’t care how small or large the organisation is have something you can hang a mantra on, so you and your people can chant it silently and know it permeates everything your organisation stands for. Then imagine, what if each division had its own mission and vision… could be useful for larger organisations wanting to take teams to a fresh level.
  5. Growth and development strategies - This probably comes out of the mission and vision along with the aims and objectives, the aim in short to make sure the business is able to develop and grow in effective ways… It might be profit to begin with, then more staff to share the load… then, well its up to you, check out your aims and objectives, if they don’t fit to this area alter them now.
  6. Brand image – People, customers – suppliers – prospective and existing staff should be able to say they know the organisation and perhaps what it does by the brand image. Clarity of communication here will build pride all round and leave a professional image in their minds. Look at the logo, the slogan (if you have one) then all the marketing materials, signage adverts THE WHOLE SHEBANG and see if it’s a rock solid image that is being presented.
  7. Customer focus - No customers no business, so get vital about focusing on them, are they treated like royalty? Should they be? They bring $$ in to the Co… so go all out to make them feel fantastic, so much so they want to come back with their friends and buy all you have! Suggestion make it sustainable, there is no use to a focus that becomes fuzzy over time and is not sustained.

That’s the list, pull it apart, print it out and hang it on the wall, throw darts at it to figure out what to do next, I care not, I just know that this list of “stuff” works and will make a difference. date for implementation… NOW!

Up the downhill or how to look at challenges.

Oct 24

Posted by Steve Gray in Excellence!, Franchisees, Growth, Innovation and Creativity, Personal Development, Planning, Risk Management, Starting out in business | No Comments

In a previous article I mentioned business being like a roller coaster with its ups and downs… This time lets look at some of the causes of this “uppsy downsy” situation.

1. I feel flat – This can be from a build up of things not going too well, everything else can be okay but the flatness you feel can cause your downhill attitude to rub off. Be aware of this happening and endeavour to keep the team in high spirits. One waqy to do this is to say “I feel a bit flat today, things have been busy and I’m a bit worn out, its not so much the team here but the workload, so guys, cut me some slack if I seem a little grumpy” This clearly states the situation so they don’t have to feel as though they are at fault.

2. $$ down you are up – You know the work load has been steady and the accounts go out at the end of the month, but the expenses are piling up and there will be too much month at the end of the money! You feel okay but the word is out that the $$ are short… the undercurrent hits the team like a dumping wave in the surf, they can hardly come up for air… In a one person business this can be a double edged sword, and who knows next month when you are flush for cash the work may well slide off the scale (the bottom ind of it!) Therefore aim to build your cash reserves to cover these situations, build a buffer between you and the bottom of the $$ jar.

3. Personal dramas – Your personal life is just that PERSONAL, so keep it that way, there are times when the “chips are down” and you want to “throw in the towel” Again this is like No 1. on the list, you can communicate to the team that things are not great for you right now, so they know its not them. Then get on with things…

4. Lack of skill – You want to do a job for a customer but you are not sure of how to go about it, so you sweat on it, lose some sleep and get yourself all knotted up… over what? Often its as simple as asking someone who has done this type of job before or doing some research to see what’s involved. If you still feel you can’t do it, ring them and say so… Better to walk away with your ego in tact than make a real mess of it working under pressure.

5. You are over it – Business seemed like such an idealistic dream at first… then reality set in, long hours, low pay (how did that happen!) and the rest of the hassles that can come with being out on your own. Take a reality check is business a long term thing for you or a short term hope for the best scenario. It’s okay to start a business, it’s also okay to close one down. To be good in business there is a lot that goes into it and sometimes the only way to learn that is the hard way.

6. Permanent bad attitude – Some people seem to be born a little grumpy, or maybe you just became that way. Acknowledge it and do some thing about it. The staff turnover will be enough to put you off being in business for too long if you have a bad attitude.

That’s the list for now, maybe you have a few things you can tell us about in the comments?

Uphill, down hill is there any in between?

Oct 19

Posted by Steve Gray in Excellence!, Growth, Human Resource Management, Personal Development, Risk Management, Starting out in business | 1 Comment

The road we travel in business is a rough one at times, then it gets smooth and before we know it it turns to a dusty track with giant potholes.

I’m talking about the everyday challenges we face, be it in getting enough customers, having enough profit, ensuring staff are happy and the $$ are still rolling in…

For many in business it’s like a roller coaster and few things seem to placate this, just experience over time that tells you “here it comes again!”

Apart from experience the business operator needs to have a way of dealing with these situations to ensure they can come out on top, mentally, physically and emotionally (at least!) so to be prepared for these challenges consider a survival kit to help you on your way.

1. Get educated – If its marketing that’s a challenge? Find out how to do it better, If it’s leadership.. FIND out how to be a better leader. Get educated, take short courses, read books and implement it to make it work. I appreciate your time is precious but making time to get this one right will pay big dividends in the long run.

2. Get connected – Find a group of business people you can bounce ideas off, a business forum that provides an active place where ideas get ‘flipped about’ can be useful to help you see others are in a similar boat and there are ways out of it.

3. Hang Loose – Take some time out from your usual routine, go to a park, take a river walk… I care not for the details but give yourself a break… on your own is good, and leave the mobile phone in the car! Rain hail or shine this short break can do wonders to boost your emotional immune system and creativity.

4. Make it inspiring - The workplace is where you spend a lot of time, take a look around and say how inspiring is this place…. Now make alist of what to do and do it bit by bit if you have to, but make it happen to inspire you and your staff.

There you go a few points to help you on the road to business success. It may still have some potholes and challenging uphill sections but the goal at the end just got a fraction easier.

The circle of business a guidepost to understanding

Oct 17

Posted by Steve Gray in Excellence!, Planning, Starting out in business | No Comments

Years ago I put together a guideline to assist my clients in fully understanding what’s involved in a fully blown business, and for those working in one area to better understand the other areas around them. The result was a PDF file like this one.

It proved to be a useful device and I share it with you so you too can see the depth involved in a business.

I aimed to include all areas of the business but still find things I need to add from time to time.

Use it as a a guidepost to understanding, in time as you grow your business you can see the areas that need development and those that are already strong.

Enjoy…

Innovation and the fight to make it work

Oct 16

Posted by Steve Gray in Excellence!, Growth, Innovation and Creativity, Leadership, People!, Personal Development, Planning, Risk Management | No Comments

An article by Kirsten Le Mesurier in the Age on innovation struck a chord.

The premise of CEO’s and senior exec’s saying innovation must happen… rarely works, it’s often a directive that can be buried in red tape and politics. Too many times the ideas are wanted but the process becomes a durge and in no time people resent the “new thing on the block” in this case innovation. For most it’s business as usual but with more headaches.

Organisations need to think carefully about taking on innovation as a systemic device as well and not just as a think tank option for new products and or services.

Innovation should (in my view) be about involving all, and working towards creating elegant buisness options, not just some products and services to make the profit look good.

“Brand You” trademarking…

Oct 14

Posted by Steve Gray in Excellence!, Innovation and Creativity, Leadership, People!, Personal Development, Planning, Risk Management | No Comments

In a previous post I mentioned trademarking as a development tool and I discussed “See something – Do something” It’s a nice simple model for business but it can be taken further than a business context, here’s how and perhaps why…

In the branding stakes there is a lot of mention these days about “Brand You” If you look at yourself as a device or commodity (how strange) branding is therefore important, on the basic personal level a resume is the marketing ‘hype’, and your actions (should you land the job) are the results. In a decent brand the hype or spin matches the end product… So the same with Brand you. It’s about congruency, things working in alignment.

I am sure you have met people that are full of ‘hot air’ and they say more than they do, well in their case there is a low level of alignment between their words and actions. that’s where this newer idea of trademarking comes in.

Using the premise of “See something – Do something” the astute brand developer, would say I have things to develop in me that will benefit me and then probably benefit the company, in the long run. This is fairly standard personal development thinking for some of you whilst for others it will seem like a new thing ripe for the picking.

In the business context the see and do device is relatively easy to work out (focus on marketing – operations and management) bu for the individual its a bit different. However in the business owners context they could map across from the business context, by noting “In each of the areas of the business I can influence, how well do I do those things?” leadership therefore becomes an issue, the management and then communication, then time management.

So make a list of the areas you want to improve then do your level best to chip away at those areas to make them count, not just for you, but for the business as well.

Is it a turn-key business, or a tur-key’s business…?

Oct 13

Posted by Steve Gray in Excellence!, Franchisees, Franchising, Planning, Risk Management, Starting out in business | No Comments

Buying a franchise can be a great way to get into business, (if you have not heard that line before you have not been looking into franchises for long.) and if it’s a ‘turnkey’ operation you are probably getting an even better opportunity, one that has all the bells and whistles on start up and a system to be reckoned with.

The term “turn key” relates to being able to turn the key in the lock to the front door and the whole thing is set to run. It doesn’t need more than a good dose of training, the cash to buy the franchise, and a solid helping of the right attitude to add to the skills base.

Some franchises offer this and over time many have learned how to make the business work really well (lots of mistakes and challenges being solved can do that…)

Other franchises offer a more bare bones approach, sure they give you a degree of support and training but after that you are on your own, in your area working to make the business work. If you complain too much they might answer back with “Hey what did you expect for what you paid?”

Like anything you get what you pay for. Those in the know will research the business, will not take the sales persons view as being the only one, and just because a franchise has a heap of members does not mean they are all floating merrily on the millpond called tranquility.

The difference between the two is not always evident to the new business person, they might be venturing into their first business and thought a franchise was the way to go (in some cases it probably is.) The first look at a business idea can be daunting, exciting and loaded with emotive drive. So seeing the differences and knowing the implications of them can be hard.

The start up businessperson with ‘blinkers on’ can be a hard mule to shift, they might only see the straight and narrow missing out on the bigger picture which may well have reality painted all over it. To make sure you are going to get a sustainable business opportunity and not just become another ‘statistic’ you should make sure you ask a lot of questions, questions to help you appreciate and understand what you need to know and not just what the sales person wants to tell you.

Like anything you buy you should go into the situation with both eyes wide open and have a solid grasp on what’s really taking place. Sure if you chat to enough franchisees you will find a whinger and that could put you off, or better still an ex franchisee with a major axe to grind.

My suggestion, take the time to really know the difference between a real turnkey operation and one that might make you look like a turkey, the pain it saves you will be well worth it!

7 Steps to finding your most profitable target market by Emma Rhoades (Guest Blogger)

Oct 11

Posted by Guest Poster in Excellence!, Innovation and Creativity, Starting out in business, The Customer Service Dept, The Marketing Dept, The Operations Dept, The Sales Dept | 4 Comments

So often people delve into advertising their business, without much thought to the process. This not only a huge waste or precious $$, but it leaves your business vulnerable to cash flow problems. Taking the time to research exactly who your most profitable customer is, will ensure you receive a higher return on your advertising investment.

  1. How many products or services do you have? Is it 1-2, or 30-40? Write them all down individually.
  2. Write down who buys each product. It’s ok to overlap a few people here. Try to make it as detailed as possible. For example, mothers with children 0-2 yrs, men who like golf, etc, rather than mothers and men. The more detailed you can get it, the more profitable your advertising can be!
  3. Work out your profit margin for each of your products. For example, how much would you make if someone bought your product. Again, the more detailed you can get, the better.
  4. Take your top performing product and have a look at who buys this. You may have more than one type of person on that list. Choose one person to start with, and think about the type of person they are. Do they shop online, do they read magazines- if so- which ones??
  5. Do lots of research!! Find these people and ask them! Ask them what type of magazines they read, ask if they prefer to shop online of offline etc. Don’t try to skip this step; otherwise you will be flying blind in your advertising. These have now become one of your target markets. Do this for all of those who purchase your products.
  6. Once you know more about them, you can start looking around for places to advertise. Don’t be tempted to go for the cheaper option- always make sure that it is getting directly in front of your target market
  7. Start with one product at a time and one customer type at a time. Always start with your most profitable product or service, and this will ensure you get a higher return on your advertising investment.

Today’s guest blogger is Emma Rhoades.

Emma owns advertising business Diva Promotions. She aims to give women with their own micro business highly targeted, cost-effective advertising campaigns. Visit www.divapromotions.com.au today to book into your next campaign and start growing your business! Emma can be contacted via the website, admin AT divapromotions DOT com.au or 1300 76 36 76.

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See something, do something…

Oct 11

Posted by Steve Gray in Excellence!, Growth, Human Resource Management, Innovation and Creativity, Leadership, People!, Personal Development, Planning, Risk Management, The Customer Service Dept | No Comments

Earlier in 2007 I did a post on Trademarks not what you think… It gave some starting points and some background to an idea that is really all about values and beliefs but does so in a more street smart way.

I thought it was time to pull out a few more and explore how they can be developed and a bit about why they can be developed (e.g. the end product of doing all this.)

Trademarks, the notion is that it sets you apart from anybody else that might have a similar business name (in the traditional use of the word), but beyond that it says “This Co does things in certain ways, ways that set it apart.” so the same with our trademarks.

It can be used to provide guidelines and information on bigger picture things in the business Marketing – Operational issues – Management. Then of course it can go to smaller issues within each area right down to the last ‘nut and bolt’

One key to using “Trademarks” is to utilise an overall device to assist with the development of each area within the framework lets call it a mantra.

“See something,
Do something”

If one person in the organisation saw something that was not “right” within the organisation they can invoke this mantra and take it from a saying to a thing to be acted on. If anyone says we can’t do that ‘because…’ then the person putting forward the idea need not feel put down, they were just doing what was asked of them, their aim might be to look deeper to find a way that can alter the first point they raised.

An example a customer service indiscretion is witnesses, you would (under ideal circumstances) report it as a matter of urgency or act on it immediately in some other way (take action) as it would effect a key area of the business (Customers!). If a mistake was spotted in an advert, “see something, do something” should then kick in immediately before it’s too late. (Again a key area of business and one that needs to be right.)

Using this simple mantra can give the business a developmental edge in all areas… so what to do, how to go about putting it into practice… make a sign “See something, do something” and put it up, everywhere! email people in your organisation about it (keep it brief) and support it at all levels, (from the customer down…)

Next, make a list of all the key areas in the business (to raise awareness) and give a few examples of how this system could be used in each, then start developing the business from that stand point. If profit is down, start with that, you will soon see what things are preventing your profit from developing and so you will be able to action those things more strategically.

Imagine, you know have a way of creating an improvement culture in your organisation simply and effectively. So go ahead, you have seen this now do something.

Franchising and the “family connection”

Oct 10

Posted by Steve Gray in Excellence!, Franchisees, Franchising, Growth, Innovation and Creativity, Leadership, People!, Personal Development, Planning | No Comments

In the world of franchising there are many chances to connect with the Franchisees and the Franchisors, meetings, conferences, and the initial training. As the leader of the franchise (or franchise division) or as the franchisee, search for more ways to connect with each other. Then pass on that ‘connection’ attitude or skill to your team/s.

In the process of business you will soon find you are part of an organism or a family if you like, some members you may never see (like distant cousins) and others you see often as they are very close. In franchising it’s the same with lots of family type links, The challenge is to make sure the links lead to solid loving relationships and not just sibling rivalry or a runaway “missing person”.

In the start up phase there will be lots of connection opportunities (if any) but as things more through to adolesence there is a chance that the connection can be come frayed.

The challenge is to overcome the disconnection and cause people to work together in harmony (as much as possible.) Importantly it’s a two way street and both parties need to be aware of that and do their bit to make it work.

One situation where this can happen is in training. the Franchisor can be training the Franchisee and they can pass it on to their staff and train them as well. This could be leadership skills, mentoring skills, delegation, and negotiation skills, the list could be endless.

Training can be formal or informal and why not do it over the phone, via a short video on the internet, or face to face at a franchise meeting. What ever way you do it, it can be ongoing, and benefit both parties. Over time the franchise ‘family’ will experience grater connectedness due simply to both parties being engaged in a worthy process.

Whose money is it?

Oct 8

Posted by Steve Gray in Excellence!, Finance, Franchising, Growth, Risk Management, The Board Room | No Comments

In franchising there are fees of all kinds, franchisees are contracted to pay. Marketing and Management fees are often the main ones.

The fees are used for a multitude of things and are vital for the main company’s day to day operation. The money is therefore a fee paid for the provision of some service, the right to use the brand etc. I would like to put forward an idea to make a positive difference to the franchises.

Many franchises offer successful business opportunities (that’s why most people buy a franchise), however research shows there is a fair bit of turnover in the industry as people discover that franchising may not be for them (for whatever reason and there are many).

To offer a start up incentive, lots of franchises also offer an income guarantee for a start up period and then the franchisee is out on their own and hopefully running the business very profitably by that point.
All seems well, until… something goes awry, and the franchisee wants to pull out… “No you can’t do that the contract says you keep on paying fees until the end of the contract period,” for some this is a burden they endure even though they are no longer in the franchise. The pain is felt on both sides

Suggestion, the management fee could include an amount that goes into a Franchisee debt reserve fund (it’s just a compulsory savings account really) and over time as it’s added to, it could build into a sizable amount. If for instance $50 per month was taken from the management fee to add to this fund the amount is not noticed (for most) and it compounds with interest on top of that.

At the end of the contract if the person pulls out they get their compulsory saving back (no more, no less) if they continue on they could be eligible to take just the bank interest on that amount out and use it how they wish. The advantage is they have a device that is growing for them, if they pull out altogether they get the basic amount, if they stay in it gets much bigger as it compounds.

I am not putting the idea forward as a complex device, in fact the simpler the better (one big account in trust) and separate balances each month.

The aim, to put forward the idea of wealth development, and then make sure they are doing it in their business by the Franchisor leading by example. In a complex business environment it’s of ten the simpler innovations that make the biggest difference.

For more articles on franchising click here.

Tom’s on the money…

Oct 3

Posted by Steve Gray in Excellence!, Finance | No Comments

In the article I have linked to, Tom Peters has a good heads upon investing , investors and the gender difference, once again he’s on the ball showing all and sundry that differences count!

Tom’s investment blog post

Of course there are differences, and the scope that this article alone provides is enormous, if you were selling investment products, would this article be of value to you? YES! If you were selling ANYTHING to females, might the profile insights be of use? YES!

Tom has been on this bandwagon for years and will not stop. Lets hope the message to sell to this  target market continues…

I found something interesting…

Oct 1

Posted by Steve Gray in Excellence!, Innovation and Creativity, Leadership, People!, Personal Development, Planning, The Board Room | No Comments

In flipping about the net I came across this link. http://www.bcg.com/

Simply put the publications section has some great resources for businesses of all sorts, check it out, there’s plenty for everyone…

Very professionally put together, usually when I come across resources like this you end up having to pay or need to be a client with a special password to get in. So it was refreshing to come across this one from a large consulting group.

Crafty management

Sep 30

Posted by Steve Gray in Excellence!, Innovation and Creativity, Leadership, People!, Personal Development, Planning, The Board Room | No Comments

A blog that chats about the craft of management now that’s useful! Check out the ten x 3 article I liked them all!

Management as a craft seems to resonate with the idea of the manager as an artisan, with a unique blend of artistic and practical skills. If this is the case the business could then be evaluated for its beauty, craftsmanship, structure, design and practicality. In a cultural context there is probably a lot more philosophy and depth that would show through as well.

I think if we take it further and imagine the artisan creating a clay bust for example, it needs to be built around a solid armature and the end use needs careful consideration, if the craftsman gets it wrong the bust could crack, not hold the clay or be unusable for a range of other structural reasons.

On the other hand if it is well constructed and suits its purpose the result will be a thing of beauty with a sense of elegance that enthralls the viewer. Now that’s the art of business.

Some of the favourites

Sep 29

Posted by Steve Gray in Excellence!, Growth, Innovation and Creativity, People! | 4 Comments

I get asked which of my posts are my favourites and have been asked to put a few in here for people to find. That’s hard to do in a sense but hopefully you will agree with my points.

Business spirituality this happened as the results of reading a school newsletter it was so interesting and easy to adapt the principles across to business.

Excellence this one is short but I wanted to get to the point fast!

Your annual report why just the big guys? Do your own and really get to the bottom of things.

Remember these are my favourites and if you are new to this site you might find many others, go searching and have a read or three! if its business ideas you are after there are plenty to choose from.

Find the champions

Sep 27

Posted by Steve Gray in Excellence!, Leadership, People!, Personal Development | No Comments

I live in Geelong and as we come up to the final of our Australian Rules football season Our Geelong team is a hot favourite to win, so to find a champion down here at the minute is very easy! Just name any one of the team members and I will agree!!!

These kinds of chapmpion are easy to find because they have been consistent performers all year and the winning streak of 16+ games was sensational.

How about in buisness? In particular your business, your team, or your division?

Might I suggest you find a few ways to do just that and discover what are the qualities you might look for in a champion.

Make a checklist of possibilities, then award a weekly champion and record it, then a monthly one, and so on, in the end the champion of the year would be the one with the most wins. The results? maybe mixed, some might embrace the idea, while others might squirm, so go with the positive outcome and invite a few of the team to push the idea and become involved in the process of selecting the champion.

People generally like to be noticed so notice them, for all the right reasons.

Transparent, secure and solid.

Sep 26

Posted by Steve Gray in Excellence!, Finance, Growth, Leadership, People!, Planning, Risk Management, The Board Room | No Comments

In Australia today, a transport company in Sydney McArthur Express has gone into receivership and has been found to be insolvent. This means the company is not viable and they will sell everything and pay out the creditors as best they can.The plight is a miserable one for workers, the creditors and operators of the business, let alone the customers… so the aim of this blog the idea of creating a secure and solid company through transparency.

I want to provide two ideas here… The first idea mooted is an old one it’s called open book management, the aim being to provide all staff with the opportunity to see exactly what’s happening in the organisation and I mean everything. In short the aim from doing so is to provide an environment and foster a culture of openness inclusion and interest. The second idea is to create a solid foundation for any sized organisation but in this case for a larger employer. The idea is to create a debt reserve fund, or a wealth account.

By being open with the “books” those interested can ask questions, see the stability and get a feel for the organisation as a whole. In reality many people do not take up the opportunity however the resultant positive effects can speak volumes in terms of trust and honesty. It tends to send the message that the company cares. The idea is simple enough but it often takes courage on behalf of the business operators to be so open as for most its “Their baby”. I tend to hold the view that sure its your baby, but the minute you employ someone its a shared baby.

The second idea of a wealth fund or debt reserve fund is to create the ultimate backstop, one that you hope will never be used! The idea is simple, out of the profits the company makes a % of that is put into a bank account, when it grows to a set size some of the funds can be put into other assets that earn a higher return. The amount int he initial account grows again and so on. As the company grows there is a point where the initial account amount should get bigger before the % amount leaves the account for bigger things… this gives the Co the liquidity it requires in an emergency.

The trick with both of these ideas is having the strength to do them, the will power to keep them growing and the sense to make sure they stay in place to build a solid foundation for everyone int he company and not just the owners.

To all involved in the crushing blow to McArthur Express, my sympathy, to those wanting to avoid these sorts of tragedies, I hope the ideas I present are useful…

The “easy in” franchise start up.

Sep 24

Posted by Steve Gray in Excellence!, Franchising, Human Resource Management, Innovation and Creativity, Negotiation, Risk Management, Starting out in business, The Customer Service Dept | 1 Comment

For the Franchisor: How do you make the start up phase easy for the Franchisee?

For the Frachisee: How does the Franchisor make the start up phase easy for you.

This is the sort of question both parties should be asking themselves and for the Franchisor reviewing it often to make sure they have the best systems in the business.

Lets take a look at perhaps a usual scenario… the Franchisee joins the business, signs up and does the training, they start the business and pay the usual franchisee fees in the first month or so… it’s baptism by “deep end” immersion!

Lets step back a bit further and take a look at what really happens. For some this business opportunity is a start up, no business experience, and while there is probably great support systems in place after the training, some may not know how to use them, or perhaps might feel as though they would be embarrassed to use them. Although the Franchisee is keen to start there will probably be a range of issues they have to contend with, a new start, a change of work habits, new systems, training to learn… and the list could go on… and ON!

It might be suggested that the Franchisor’s role (in part) is to make this transition phase as simple and easy as possible so they can build the esteem of the Franchisee (vital really). So here are a few suggestions that could make a solid point of difference to the way your franchise business starts its new recruits (remember to use these as selling points!)

Fees - Consider not having the first two or three months of fees, and or making the fees a low start option (e.g. they pay an increasing percentage in the start up phase) To redeem the loss you include it in the start up fee for buying the franchise.

Income – During the training period and the first few weeks of set up, there is probably a loss of income, if you do not have an income guarantee, include a short term one to take the pressure off. Let the franchisees focus clearly on the training and getting things right.

Support – coaching – mentoring – training – Training is usually a given, the coaching, mentoring and other forms of support may be voluntary, or the onus put on the Franchisee. The aim being to ensure the Franchisee is a “happy camper” your role is to make these aspects more robust and easy to implement. If the new recruit is thrown in the deep end, how can you provide ‘services’ to ease the pain and ‘stop them from drowning”? Lets face it there are too many Franchise horror stories and the time stop this is at the start. If you have support staff in contact with franchisees how well do they coach, mentor and support?

Advertising – A vital part of the business mix, advertising can make or break a start up business. How many ways can you build extra value into the start ups advertising to ensure added value and possibly more customers? Show them the Press Releases you have sent out to their local media, then scour their local papers for articles that have been printed and show them, look for opportunities in the local media and utilise those to ensure the start up phase is happening with a lot of interest. Perhaps consider teaser adverts to build intrigue. Of course all the extras are in the price of the franchise.

List – Frequently asked questions for new franchisees (perhaps in an intra-net) and provide a whole range of support materials for them, from simple short video examples to PDF type documents or power point presentations they can get answers with very quickly. give the peace of mind in knowing the answers are there 24/7 so they do not have to wait for an “Area Manager” to call them back with an answer on Monday and it’s Friday night!

Family – A little touched on area of business… but the family support is vital to how the new franchisee feels. What material can you provide to raise their awareness of this new change to their lives? How it might effect things, the rewards it might bring later on… and so on. Most of all though provide something, even a brochure or leaflet is better than nothing and encourage them to get involved. For smaller franchises it might be as simple as inviting them to help out with the bookkeeping (if they have those skills) or delivering pamphlets in the territory. Any way they can help out can be very useful to the family stability in the early phases.

Thats the list for now, but keep searching for ways to help the new recruit. For Franchisees, look for franchises that offer as many of these support devices as possible and ask existing franchisees about how well these worked in reality.

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