Wednesday, May 29, 2024

the 10 commandments for an entrepreneur -

 

taken at BSI's Christmas party in 2002 

The ten commandments are pearls of wisdom that I have picked up from friends and acquaintances over the years 


1.       Set your goal and go for it

2.       Be tireless and persevere.

3.       Focus on niche markets.

4.       Be decisive and implement decisions quickly.

5.       Listen and be responsive to customers, suppliers, employees, and investors.

6.       Maintain CFN—cash flow now.

7.       Innovate.

8.       Minimize layers of management.

9.       Maximize profits by keeping costs low and productivity high.

10.   Believe in yourself.


ULTIMATE SUCCESS FORMULA

 

Ø  TARGET - Know your outcome.

Ø  ACTION -  Take action that you believe will produce the results you desire – else your desire will always only be your dreams

Ø  DETERMINE RESPONSE - Develop sensory acuity to recognise the responses and results you are getting to determine whether they are moving towards the outcome.

Ø  ADAPT AND CHANGE UNTIL DESIRED RESULT IS ACHIEVED - Develop the flexibility to change your action until you get the result you want to achieve your outcome.


Tuesday, May 28, 2024

You have a meeting with a prospect of note - 11 points to close the sale and create an advocate




  1. Beware of impostor syndrome - you know your product - no one knows it better - you . They are no better than you 
  2. You passionately believe in your product and it will add value to them 
  3. They have same anxiousness as you
  4. Know your product - know them - do your research - what are their pain points ? 
  5. Know the Person - what personality - what are theirs hot buttons - do they like stories or facts 
  6. Find the problem before giving the solution … peel the onion - let them come up with the solution / solutions 
  7. Customise  and personalise to persons needs, wants and desires - is sustainability , dei, right left - what are their hot buttons - they may buy on the bells and whistles - and will always buy on the relationships 
  8. The value gap - give them something that has nothing to do with the product - It’s invariably not about the price or the product - it’s about the relationship 
  9. Underpromise  and over deliver
  10. Follow up - get feedback and google review 
  11. Ask for a referral 


As my friend Rana Kordahi says


“What will set you apart from your customers is you expertise, unique insights, genuine curiosity, authenticity, and sincere desire to add value. And most importantly, the belief that you have in yourself and your products and services.”



Sunday, May 5, 2024

10 Lessons From Ikigai: The Japanese Secret to a Long and Happy Life




1. Find what you love, what you are good at, what the world needs, and what you can be paid for. Your Ikigai lies at the intersection of these four elements.

2. Pursue your passions wholeheartedly. When you engage in activities that you're passionate about, you naturally feel more fulfilled and energised.

3. Keep your body and mind active. Engage in physical activities, mental challenges, and lifelong learning to maintain vitality and cognitive function.

4. Build strong connections with family, friends, and community. Surround yourself with people who support and uplift you.

5. Life is filled with ups and downs. Cultivate resilience to navigate challenges with grace and bounce back from setbacks stronger than before.

6. Strive for balance in all aspects of life—work, relationships, leisure, and personal development. Avoid extremes and seek harmony.

7. Practice mindfulness and savour the present moment. Let go of worries about the past or future and focus on fully experiencing the here and now.

8. Take care of your physical and mental well-being by prioritising sleep, nutrition, stress management, and self-care practices.

9. Cultivate an attitude of gratitude. Appreciate the blessings in your life, big and small, and express thanks regularly.

10. Stay curious and open to new experiences by continuously learning, growing, and evolving as an individual.

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You can also get the audio book for free. Use the same link to register for the audio book on audible and start enjoying

Thursday, May 2, 2024

20/80/20 rule



80/20/80 as it relates to your business 

If you look at your business Profits

Do 20% of your clients (A grade clients ) will bring in 80% of your Profits with 20% of your energy  ?


 If that’s the case - 80% of your clients  (B grade clients ) bring in 20% of your profits from 80% of your energy? 


 What are the things you need to do to get b grade clients to A grade clients? 

If you look at your employees 

This principle can also be applied to many other things.  

Replace “Clients” with “Employees”


Do 20% of your employees (A grade employees ) bring in 80% of your Profits with 20% of your energy  ?


 If that’s the case - 80% of your employees  (B grade employees ) bring in 20% of your profits from 80% of your energy


80/20/80 as it relates to your life 

If you look at your life 

For non business related issues - replace “profits” with “enjoyment” 

Do 20% of your friends (A grade clients ) will bring in 80% of your enjoyment  with 20% of your energy  ?


 If that’s the case - 80% of your clients  (B grade friends ) bring in 20% of your enjoyment  from 80% of your energy? 


Do 20% of your exercises (A grade exercises ) will bring in 80% of your results   with 20% of your energy  ?


 If that’s the case - 80% of your exercises   (B grade exercises ) bring in 20% of your results  from 80% of your energy? 


 What are the things you can do to turn B grade clients  to A Grade clients  ?

  1. Managing Expectations :- In our business  we've found that it's about managing expectations from the first contact via an Engagement Letter and reminding them of "how we work here" through our “hello pack” . 
  2. Educating your clients on how you work and what is expected of them 
  3. Focussing on “flow 
  4. Continually “Fill the funnel”- every year get rid of bottom 20% to make room for the top 20%

What else?


John Lees - who coined the value gap gave an excellent talk to our #bbgforum - it’s all about performance!!!! The 2nd gap 

Sunday, March 24, 2024

A players or Systems for a scalable business?



We all know that the secret to a business that is scalable and  sellable is all about having systems and processes.


The goal should be to make yourself or your A players the least important people in your business so you can work ON your business – rather than  IN IT.


If you were to step away from your business for 90 days – away from your customers, your tools, and your team, everything – what would happen?


Would you feel confident that your customers are receiving the great service you promise?

The Danger of A-Players 

If your business is reliant on A-Players, it will crumble when they leave, reach capacity,  demand higher pay, or get headhunted. 


An A-Player is not scalable. 


A-Players allow the business to grow extremely quickly and usually haphazardly, with people doing their jobs how they see fit rather than following a production-line process designed for scale.

 

A-Players are great, sure; however, they are not what we need – first, we need control and predictability during growth. 


Therefore, A-Players are not the secret to scaling – SYSTEMS and PROCESSES are.


Documenting every process and just hiring someone to do the work is easier said than done!!


It’s more than checklists, handbooks , wikis, a Google Drive folder, or a screen recording .


It’s about your ordinary people - doing exteaordinary things 


For ordinary people to do extraordinary things, a system is absolutely necessary in order to compensate for the disparity and natural variation between skills that people have, the experiences they've encountered, and the skills your business needs. 


You don’t want your business to  rely on the team’s energy, whims, moods, and memory.


It is literally impossible to produce a consistent result in a business that depends on extraordinary people. 


How can you shift your business to where your results are predictable and systems-dependent rather than people-dependent? 🤔


The secret

When you intentionally design your systems and processes to be operated by anyone—even Grandma—then you have a money-making machine that can generate predictable results for your customers—regardless of who is at the helm that day.


A system should achieve 3 goals.

 Remove room for assumption.

 Remove room for interpretation.

 Solve the problem before the team encounters it.

 

If we meet these 3-line items, the business becomes predictable at every level.


Here’s a simple question to discover if your business systems are up to scratch. 


When a team member goes through a process that you’ve built, do they have a question? If yes, then your process needs improvement. 

 

A process should solve the problem before the team encounters it. A process should result in correct work without any questions, not because we don’t want to answer the question but because everything has been addressed inside the process.

 

How do you achieve this?

With 

💥quality control triggers, 

💥delivery processes, and

💥fail-safe protocols to check the fulfillment. 


If you do NOT have those systems built (or if you don’t know what they are), all you have is blind reliance and chance, and this is not a great foundation for business owners wanting to scale and remove themselves from the day-to-day operations.


A-Players cannot be cloned. 

 

And you, the business owner, cannot be in all places at all times if you hope to actually build a business that thrives without you.


When you have systems like these built, you can use that free time to spend with family and friends, with work that’s done right the first time around, and with customers singing praises for your business and referring everybody in their network to you. 🥰


(Plus, you will feel confident taking on all those referrals because you know your team can handle it.) 

 

Thursday, March 21, 2024

Are you a manager or a leader ?




An organisation needs leaders and managers - both have very diffferent but necessary skills 

Are you a manager or a leader? 

Leaders

Managers

Leads people

Manages people

Set destinations

Navigate the roads to get there

Cultivates change

Cultivates stability

Inspires

Comforts

Appeals to the heart

Appeals to the head

Set direction

Sets plans with details

Works on a system

Works the system

Has vision

Reaches goals

Focus on effectiveness

Focus on efficiency

Has followers

Has subordinates

Take ownership

Take responsibility

Shape culture

Enact culture

Are proactive

Are reactive

Accomplish achievements

Accomplish compliance

Break rules

Make rules

Use conflict

Avoid conflict

Set new direction

Follow existing roads

Go inward

Work outward

Does the right thing 

Does things right 

Wednesday, March 20, 2024

9 strategies to prevent procrastination and save time




Are you a guru at wasting time!! 

Are you a specialist at procrastination?


This personal productivity sheet identifies 9 strategies that will help you just get things done - help you prevent procrastination,efficiently manage your time, energy, and resources to be more focussed on achieving your goals. 


Thanks for the post David Sim Smyth  - with credits going to  Andrew Lokenaugh



Here are some key aspects of personal productivity:


👍 Give this post a thumbs up

💬 what are some of your procrastination tips ? 



#productivity #personelproductivity #maximieyourpotential #potential