Tag Archives: business advice

Do You Know Where Your Business Sits?

graph

So, within your marketplace what is your product or service offering, who is your target market, what turnover do you need to generate to get you the profit and lifestyle you want, and what are the time scales for you building this?

You have to completely understand the marketplace you’re in, so consider what your key features are and how you compare to your competitors in terms of market share, quality and price. What are the main differences between you and your competitors? This will all give you a feel of how best to understand your position within the marketplace. As an example, I’ve included a graph of car manufacturers (this above is in no way is gospal but gives you an idea) … 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 »

How To Get The X Factor In Your Business

Setting out what makes you truly different is probably a task you’ve thought about doing, but still not got around to doing because there always seems to be other urgent and more important things to do, or simply because life just gets in the way.

Yet for most businesses that go to the trouble, it’s a real eye opener and ultimately, it’s the difference that makes the difference.

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What’s Slowing YOUR Progress…

You’re procrastinating. 

Right now, probably.  

Me too. I started the day with a worthy goal. A proper plan. I was going to spend the whole day working ON my business. No distractions. Diary clear. Staff briefed.  

But there’s a problem. A big problem.  

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The Two Things As A Business Owner You Must Protect or Risk Failing…

It’s incredibly hard being an entrepreneur.

Anyone that pretends it’s easy, and that riches beyond your dreams are there for the taking is a charlatan. Getting even a single additional customer can often be the damned hardest thing.

Which is why you need a fortress. Not one formed from stone with flags on the battlements. No, you need a fortress to protect TWO THINGS:

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The Correct Way To Tie Your Shoelaces And Grow Your Business

Business Success I wanted to share a three-minute video with you today about the correct way to tie your shoelaces.

Now, I can just see the look on your face right now – you’re probably wondering whether I’ve finally gone and lost my marbles but stick with me a second.

It turns out that there’s a ‘weak’ form of the knot we usually tie our laces in and a ‘strong’ one.  You’ll have to watch the video to find out which you produce (!) – but the reason I wanted to share the video with you isn’t because I’ve suddenly developed a fascination with shoes or shoelaces.

It’s the last line the presenter Terry Moore delivers.  He says, ‘Sometimes a small advantage some place in life can yield tremendous results someplace else’.

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The Closest You’ll Get to a Silver Bullet in Business

Big changes in business happen through careful thinking.Silver bullet for business

Big change comes from knowing what you want to achieve and why and how you want it to happen; making conscious decisions and then driving through the implementation.

Big change doesn’t happen through procrastination or New Year’s resolutions.

Right across the country ‘normal’ people began this year with the intention of sticking to a resolution or two. Most would have been broken by February. That’s because too many resolutions are based on what people think they should be doing rather than what they actually want to be doing. Sure, they’re well-intentioned but the result is they’re not 100% committed; not thought through and they fall at the first hurdle.

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How You Deal With Bad Luck Will determine Your Success

I was listening to somebody complaining about their bad luck yesterday. If I’m honest, they had had a tough time, Welsh Guards Ken Adamsbut – like most things – their perception of it all made it ten times worse.

They could have chosen to see their challenge as an opportunity but instead it reinforced their view that the world was a tough place, which got me thinking about how some people really roll with the punches while others get KOd first time.

Often it’s the challenges we face which turn out to be the very best things to happen to us – personally as well as professionally. Divorced? It leaves you open to meet someone more perfect for you. Bankrupt? Tough lesson, but you get to start over with a hell of a lot more wisdom. Redundancy? Take the cash, and the time, to reinvent your career… You get the picture.

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Principle Number Five To Getting Better Results

If people aren’t motivated to take action, then scarcity is one of the principles you can employ to get people to take action as opportunities appear more valuable when they are rare. Fear of loss will drive people to act, in a home energy study, people were contacted to tell them how much they would save per month if they were to take up a grant paying for home insulation.

When they changed it from savings per month to how much people would lose per month if they didn’t take up the offer there was a 150% increase in the uptake.

Boss music systems introduced their new Boss Wave Music System, the system itself was way ahead of anything that produced before and had the critics raving about it, Boss produced a leaflet about the system and at the very top of the leaflet with the words  “NEW” the Boss Wave System.

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Principle Number Two To Getting Better Results

LikingGetting people to like you is another way of building relationships, the activators for liking are similarity, praise and cooperation.

There’s a story about a large US company who were acquiring a lot of the businesses through purchase, this required the CEO of the company to negotiate with the owners of the companies he was buying. The chairman of the CEO thought that the negotiation processes were taking a bit long and suspected that the CEO was the issue.

Robert Cialdini was called in by the chairman to see if he could do anything to speed up the process, Cialdini watched some videos of the CEO in the negotiation process.It became apparent that he was a bit aloof and not very engaging with the person he was buying the business from.

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