Category Archives: Strategy

Put Up Prices or Live in Fear

Want More Profits? Put Up Prices

You want to make more money? Put up prices, now you’re sitting there thinking, well that’s easy for you to say,

Put Up Prices

Put Up Your Prices

in my business “insert all your excuses here please”. The only person standing in your way of making more money is you. Although if you’re getting customers off the back of being the cheapest, I’d seriously think about changing your positioning, 20% of the population buy on price alone and they’ll leave you for someone doing it for 50p cheaper, it’s a really difficult business model to sustain, and very crowded, whereas if you look at the high end it’s a lot less crowed and the rewards are far greater.

Put Up Prices or Let Fear Dictate Your Lifestyle

The amount of clients I have, who when they first start working with me, are doing a great job, delivering what the customer wants and not charging enough is shocking, take a look at what some of your competition is charging if you don’t believe me. I bet there charging more and not doing such a great job as you.

I’m not saying that you go to your existing customers and triple your rates, but potentially you could with your new customers. And as long as you inform your existing clients that prices are going up (a bit not tripled) there shouldn’t be a problem

Its all about how you position yourself and educating your clients so they see the value you bring, there’s a few other things that will happen too

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Step One of How to You Write a Business Plan Thats Effective and Easy to Follow

How To Write A Business Plan

How to Write a Business Plan

Start With The End in Mind

How important is your business plan? It’s EVERYTHING, and it’s dead easy to get wrong. How to write a business plan isn’t rocket science, but it is the *most* important thing you have to do within your business, along with the ongoing monthly, quarterly and yearly planning that the plan creates. A great, easy to follow business plan is exactly what the majority of businesses lack and it’s exactly what we’re going to put right.

Things to Remember If You’re About To Write A Business Plan

A plan lays out what’s important within your business, and what’s important should never get sacrificed for what’s urgent, which is what all too often happens within businesses. Can you think of a business owner that you know – they’ve been flat out busy for the last five years but they just seem to be doing the same as they were five years ago, or aren’t that much further ahead? Well, that’s because they’ve been working on the urgent rather than the important stuff that really builds their wealth and their business.

I’d suggest that you read through the next few blogs once or twice, and then you set aside a few hours in your diary to work through the whole process. Treat this as an appointment with your most important client…you!

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Step Three of How to Write a Business Plan That’s Effective and Easy to Follow

The Final Part of How to Write a Business Plan

Write a business plan

Final Part of Writing the Business Plan

Write a business plan and this is where we look at the overall strategy you’ve just built up  and start to lay out what needs to be done in the business to achieve these targets.

So, look at each of the areas you’ve just worked through, such as marketing, staffing, and premises, and using your flip chart paper start making a list of things that need to be done on the left hand side of the page (so, for example you might need to get some sort of accreditation within your industry to charge more for your services, do this for every area).

Once you have all the things that you need to do, start to think about what challenges there are around those things you need to achieve and list those on the right hand side of the flip chart. You might, for example, need to spend £10,000 training someone up to achieve your accreditation and you may also then be at risk of them leaving the business. Again, do this for every area in your business.

Write a Business Plan and You’ll Get a Better Feel for Your Business

When this is done you’ll have a pretty good feel for what needs to be achieved and what some of the potential challenges could be on this journey so we shouldn’t get too many nasty suprises. Particularly as the next step should take care of pretty much everything on this list…

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Holiday Lessons for Life and Business Planning Part One

Planning Your Holiday, Life and Business Planning are Really Similar

Well the weather has been awesome recently, However there does seem to be a the usual mass exodus of people going abroad looking

The Importance of Business Planning

My Plan Got me on Holiday

for the bright shiny, glowing orb thing that seems always seems brighter in foreign locations.

However we can all learn from how we book our holidays, nobody, decides one day to pack their bags, rocks up to an airport, points at a plane and says “I’ll go on that one” you could end up at some completely disastrous destinations and depending upon what you packed, completely unprepared for the location, a bikini in the Artic won’t be of much use.

However a lot of people spend more time planning their holidays than they do with their life’s, or doing the business planning which is absolutely crazy way to live, but the process for a successful life, holiday or business is exactly the same.

You start by setting it as a written goal, Read More »

Do You Know Who Your Best Customers are?

Knowing Who Your Best Customers Are is Essential

If you’re in business then you have customers. You might have a few, or a few thousand, but understanding who your customers are

Who Are Your Best Customers?

Who Are Your Best and Worst Customer?

– and especially who your best customers are – is absolutely essential and allows you to target new business too. Think about your ideal customers and even make up an avatar for them. Think about where they live, what they read, what kind of hobbies and sports they have, where they shop, and what frustrations they have.

Then Work Out How to Get in Front of Your Best Customers

Once you have all of this noted down, you can start to think about ways to get your business in front of them and ways to encourage them to take some sort of action, whether that be to pick up the phone and call you, download a free guide, or request a visit or an estimate.Also, look at how can you educate your customers.

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Are Happy People More Productive at Work?

Happy people make more money, have more fun, and better health. And happy workplaces are better too.

Jim Collins, the author of Good to Great explained “the people we interviewed from the good-to-great companies clearly loved what they did largely because they loved who they did it with.” They found that the more team members were encouraged to socialise and interact face-to-face, the more energized they felt, the more energy they had, and the longer they stayed focused on a task.

Happy People Make More Money

Happy People Make More Money

 

And, just to push home the point, a recent Guardian article reported that “people who are happier at work are more productive – they are more engaged, more creative, and have better concentration. The difference in productivity between happy and unhappy people at work can range between 10-50%. That’s 10% for non-complex repetitive tasks, or up to 40-50% in service and creative industries.” And that’s an awful lot in terms of business revenue. Read More »

The Secret to Business Growth

Hi There

The Secret To Growing Your Business

Don’t Tell Your Competitors

Breaking news, there is no silver bullet for your business.

You’ll sometimes hear people saying “if only this would happen” or “if only that would happen, we’d be made”. Well, in my experience there is no silver bullet within business. No if only and no one single answer or action to building a great business. It’s about small changes across every area of the business, so let’s look at these and give a worked example…

What we are going to is look at how working in each area of our business can have a huge impact on turnover, so first we need to consider the number of your:

Past Customers

This is anyone that has ever bought from you, and if you’ve been going for a while you’re going to have to consider how far back you are able or prepared to go. Do you have a database? If not, perhaps old invoices can provide this information and you could transfer it to a data base? Trust me when I say that this is one area you don’t want to fall down on – your financial future depends on having an up-to-date database of anyone that you’ve ever come into contact with. Read More »

Have You Created a Battle Plan for Your Business?

Creating a plan for battle is essential. No army would ever engage in a battle without knowing as much as they possibly could about their supply lines, the terrain, and the opposing forces they faced.

Once they’d gathered, or even guessed at the information that they didn’t have, they could draw up a plan for battle and how they were going to win.

The plan would take into account their own strengths, weaknesses, opportunities, and threats, and only then would they be ready. Of course plans rarely survive intact after the first contact with the enemy.

In preparing for battle I have always found that plans are useless, but planning is indispensable.

Dwight D. Eisenhower

A plan is also essential for your business as it’ll give you direction and a strategy to work to. Read More »