Categories ArchivesMedium Business

3 easy ways to get your team to systemise more standard

Even though we know the benefits of systemising more of our business, who really wants to do it? Here are 3 easy ways to get your team systemising more of your business: 1. Start small Ask staff to draw up a checklist or flowchart that shows the key elements of the process. This is easier than writing a detailed procedure (ugh!), and the summary checklist or flowchart can be used as a discussion tool to flesh out more detail where needed. 2. Start positive Resist the urge to focus on a problem area.  Start with a process that  works well as your team will be more comfortable showcasing an area they feel good about. 3. Use their efforts Make sure you use what they have prepared positively, ...

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How to make better decisions standard

In these crazy-busy times, it is easy to develop a knee-jerk approach to decision-making. So what can you do to make it easier to 'hop in the helicopter' to gain a more informative perspective?  Hop in the helicopter 'Hopping in the helicopter' means getting above the noise and busyness to gain a clearer understanding of an issue. Being in the helicopter enables you to see things you couldn't when in the thick of things.  From the helicopter you can see patterns, opportunities and even the significance of the issue. So how can you make it easier to hop in the helicopter? Track your KPIs over time Assessing a single measure in time gives no indication of the direction it is taking. It is essential ...

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What do you want to achieve in your business? standard

We all have our reasons for being in business - what are yours? And more importantly, what do you want to achieve next with your business? Why what you want matters As the owner of your business, your business exists to serve you. As the leader of your business, your passion and commitment to your business, or lack of, influences your whole team. Therefore it is important to clarify your personal goals for your business, before working on the business goals you will share with your team. So, what do you want from your business? Increased profitability and cashflow? Are you working hard, but not seeing the financial rewards? Growth? There is no point growing your business, if the headaches are only going to grow too.  Why is growth ...

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Your Business: a Great Wealth Creator standard

Harness the double wealth power of your business Building a business is an effective way to create wealth as it offers two ways to create wealth: 1. Providing an income to you as owner. Income is the profit your business earns from its day to day operations after everyone has been paid (including you, for your work in the business). 2. Increasing the value of your business. Value is the price someone would pay, to buy your business. Profit and value are related. Value is largely, but not solely, influenced by profit. Here are two strategies to increase the profit and value of your business. Strategy 1: Establish yourself as a profitable business Here are some basic guidelines: 1. Establish a real profit In your sale price, ...

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The stages of business development image

Businesses follow a common path of development as they grow. Each stage of business development has its own unique challenges to overcome and requires different management skills. There are three main stages of business development: Startup Adolescence Maturity You are in Tips and Tools How to identify your stage of business development The above sales turnover and staff numbers are just a guide.  We have worked with businesses with 120 staff, that are still at the adolescent stage. The best way to know which stage your business is at, is to review the below challenges, and see which group you identify with the most. Start-up Challenges: Surviving! Finding sales opportunities Converting sales opportunities Managing cashflow Juggling many hats Appearing professional Dealing with the admin/paperwork Overwhelm! Everything is new Adolescent Business Challenges: Getting the work done - properly and profitably Dealing with the ...

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What is strategy? standard

There is a lot of hoo-ha around 'strategy'. But is strategy really that complex to understand? Simply put, 'strategy' is how, in general, you intend to achieve your goals.  As there are many ways you could achieve your goals, it is important to clarify how you specifically plan to achieve your goals.  That is, what will your strategy be? Defining your 'how' facilitates engagement, efficiency and differentiation from your competitors. Strategy is HOW, in general, you intend to achieve your goals. Strategy requires deciding what you will and won't do "Business strategy is the creation of a unique and valuable position, involving a different set of activities."   (Michael E. Porter) In business, your strategy defines how you uniquely intend to achieve your goals which differentiates you from your competitors. To have clear strategies ...

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