Is there an “indispensable person” in your business? Worse still, as the business owner are you the indispensable person? An indispensable person in a business can be a major risk and also a bottleneck! They are the kind of person who has some expertise / knowledge / experience in a particular aspect of the business…. [Read more…]
Business owners, are you guilty of being a rescuer? Do you try to pump life into your staff, clients, peers and friends? James (Jim) Rohn was a favourite motivational speaker of ours and I had the good fortune to meet him on a number of occasions. He gave us all some great life and business… [Read more…]
In their book “Great By Choice” Jim Collins and Morten Hansen dispel a number of entrenched myths about what makes companies great in tough times. What do you think about them? Please add your comment below! Entrenched myth #1: Successful leaders in a turbulent world are bold, risk-seeking visionaries. Contrary finding: The best leaders we studied… [Read more…]
As business owners, how do we learn anything? What happens in the brain? The four stages of learning, initially described as “Four Stages for Learning Any New Skill”, was apparently developed at Gordon Training International by Noel Burch in the 1970s. (Wikipedia) It’s a great theory for business owners to understand because often we “don’t… [Read more…]
It’s easy to get lulled in to a false sense of security when a business is doing a good turnover and turnover figures are going up. The problem is though that it is NOT about the turnover, it’s all about the LEFTOVER! In other words the profit and growing the profit dollars. So often we… [Read more…]
Business owners: where is your hungry crowd? The crowd of people who are beating a track to your business to get what it is you are selling them. Often the answer when we ask this question is something like “All small and medium sized businesses.” Worse still is the answer “Everybody!” These answers mean the… [Read more…]
It’s almost the end of another financial year – well at least it is in Australia. One of the opportunities which is often overlooked by business owners is the opportunity to review and restructure the chart of accounts in their accounting package. Why would you want to do that? In our previous Business Owners Board… [Read more…]
In a Business Owners Board business advisory meeting, when we ask this question, the answer is usually something like “Vitals, what are you talking about?” or “Yes, my blood pressure is a little high. So what?” According to Wikipedia: “Vital signs (often shortened to just vitals) are a group of the 4 to 6 most… [Read more…]
The most underrated tool in business for driving up your results – a good strategic plan! A good plan will fit on one page and be the guiding light for everything that happens in the business. However, success not only relies on a good plan but also good execution. There are many reasons why business… [Read more…]
Why many heads are better than one! Karl Duncker’s radiation question. “What’s Karl Duncker and radiation got to do with business advisory boards?” you ask. Whilst researching for a public presentation recently I came across the story about Karl Duncker and I realised it explained exactly why advisory boards are such a powerful tools for… [Read more…]
