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23.01.2022 What is the biggest challenge facing leaders today?

22.01.2022 What are you doing to ensure you continue to grow and develop as a leader?

21.01.2022 Theres no right or wrong time. Just start. Better now than later and better late than never. Have you planned the move to the next phase of your life?

21.01.2022 How to Get Rich in 3 (Really Difficult) Steps Becoming wealthy may not be your primary goal, but if it is, there is a reasonably predictable way to get rich. I am using information in this article that comes from the USA so while we may not be in the USA the ratios remain fairly stable. Read on and you will see what I mean. Don't worry so much about the exact numbers think in terms of percentages. ...Continue reading

21.01.2022 Do you set aside specific times to cast vision to your employees and other leaders?

20.01.2022 WHAT YOUR BIRTH CERTIFICATE SAYS ABOUT YOUR EXIT PLAN In our experience, your age has a big effect on your attitude towards your business and how you feel about one day getting out. Here's what we have found: Business owners between 25 and 46 years old ... Twenty- and thirty-something business owners grew up in an age where job security did not exist. They watched as their parents got downsized or packaged off into early retirement, and that caused a somewhat jaded attitude towards the role of a business in society. Business owners in their 20s and 30s generally see their companies as means to an end and most expect to sell in the next five to ten years. Similar to their employed classmates who have a new job every three to five years; business owners in this age group often expect to start a few companies in their lifetime. Business owners between 47 and 65 years old Baby Boomers came of age in a time where the social contract between company and employee was sacrosanct. An employee agreed to be loyal to the company, and in return, the company agreed to provide a decent living and a pension for a few golden years. Many of the business owners we speak with in this generation think of their company as more than a profit centre. They see their business as part of a community and, by extension, themselves as a community leader. To many boomers, the idea of selling their company feels like selling out their employees and their community, which is why so many CEOs in their fifties and sixties are torn. They know they need to sell to fund their retirement, but they agonise over where that will leave their loyal employees. Business owners who are 65+ Older business owners grew up in a time when hobbies were impractical or discouraged. You went to work while your wife tended to the kids (today, more than half of businesses are started by women, but those were different times), you ate dinner, you watched the news and you went to bed. With few hobbies and nothing other than work to define them, business owners in their late sixties, seventies and eighties feel lost without their business, which is why so many refuse to sell or experience depression after they do. Of course, there will always be exceptions to general rules of thumb but we have found that more than your industry, nationality, marital status or educational background your birth certificate defines your exit plan. So I have some questions if I may. Have you considered your exit strategy? Do you want to keep it and run it under management? Do you want to hand it down to family or management? What is your legacy? Drop me a note or go to http://bit.ly/2lRvqJ3 for more information.

18.01.2022 What do you like to ask other leaders when you get the chance?

18.01.2022 What are a few resources you would recommend to someone looking to gain insight into becoming a better leader?

17.01.2022 Which is most important to your organizationmission, core values or vision?

17.01.2022 What is one mistake you witness leaders making more frequently than others?

16.01.2022 Can you explain the impact, if any, that social networking has made on your organization or you personally?

16.01.2022 What are you most proud of?

16.01.2022 Drivers of Value Series We have discovered that there are eight key drivers that drive the saleability of a business. Concentration of Customer, Supplier, Employee...... Not being overly dependent on any one section of your operation be it supplier, customer or a particular member of staff. This is essential for building a sellable company, that independence of any one constituency. The three most important groups you've got to make sure you're independent of are, number one, customers. You can't have an overly concentrated customer set. You've got to have good diversification among your customer set. Number two, employees. You can't be overly reliant on any one employee. Number three, and this one's sometimes not as intuitive as the others but you can't be overly dependent on any one supplier, either. Customer, employee, supplier. You've got to be independent of those three because for a buyer coming in, they're going to look at your business, and if they see that you're overly dependent on any one of those constituencies, they're going to discount the business because it's just too risky for them. To improve your position, you've really got to make sure you've got good diversification in your customers, make sure you're not overly reliant on any one employee, and you've got diversification in your suppliers, as well. If you want help with that drop me a line at http://bit.ly/2lRvqJ3 and we can see what we can do to help.

16.01.2022 How much goodwill do you have in your business? The term goodwill is often thrown around in conversation as though it is a subjective description of how much your customers like your business. In fact, when it comes to valuing your business, there is nothing subjective about the definition of goodwill. It is defined as the difference between what someone is willing to pay for your company minus the value of your hard assets.... Lets imagine you own a plumbing company and the main physical assets in your company are the five vans you own and some tools with a total value of around $100,000. If you sold your plumbing company for $1,000,000, the buyer would have paid $900,000 in goodwill ($1,000,000 - $100,000). When a company sells for the value of its fixed assets, it is often a distressed business one step away from closing down. One way to think about your job description as an owner is to maximise the difference between what your business is worth to a buyer and the value of your fixed assets. Marriott buys more than bricks and mortar. For an example of the difference between valuing a business for its hard assets vs. its goodwill, take a look at the recent acquisition of Starwood Hotels & Resorts Worldwide by Marriott. Neither Starwood nor Marriott own many of the hotels that bear their name. Instead, they license the name to operators, franchisees and the owners of the bricks and mortar. So why would Marriott cough up $13 billion for Starwood if they dont even own the hotels they run? In part, Marriott wanted to get its hands on the Starwood Preferred Guest program, a loyalty scheme which has proven more popular than Marriotts program for frequent travellers. Similarly, Uber is worth something north of $50 billion because more than one million people per day hail a ride using Uber, not because they own a whole bunch of cars. Chasing hard assets at the expense of goodwill Many owners focus on building their stockpile of hard assets, not understanding the concept of goodwill. Accumulating hard assets like land and machines and equipment is fine, but the savvy owner, looking to maximise her value, focuses less on the tangible assets and more on what those assets allow her to create for customers. There is nothing wrong with owning hard assets unless they take away from capital you could be investing in creating goodwill. Then the opportunity cost may exceed the value of owning the stuff. Arguably both Uber and Starwood would be a shadow of the companies they are today had they pursued a strategy of accumulating hard assets. Would Uber ever have made it out of San Francisco if they had to buy a new car every time they wanted to add a driver to their network? In your case, focus on what creates value for customers and you will maximise the value of your business far beyond the value of your hard assets. If you want some help with this drop by http://bit.ly/2lRvqJ3 and leave me a message.

14.01.2022 Who is a person that you considered as a role model early in your life? How and why does this person impact your life?

14.01.2022 What is one characteristic that you believe every leader should possess?

13.01.2022 How do you help a new employee understand the culture of your organization?

12.01.2022 A quick fix if you have a marketing issue with your business. http://bit.ly/2mAdJhk Want to find out more drop me a note.

12.01.2022 How do you ensure your organization and its activities are aligned with your core values?

11.01.2022 Did you know that there are eight ways to know if you have a job or own a business? The ultimate test of your business can be found in a simple question: would someone want to buy your company? Whether you want to sell next year or a decade from now, you must be building an asset someone would buy otherwise, you have a job, not a business. ... Here are eight ways to ensure you are building a company, not just doing a job: 1. A job requires that you show up at work to make money, whereas a company generates revenue whether you are there or not. 2. If your company is so reliant on a single customer that they can dictate how you deliver your product or service, your company is more like a job than a valuable business. 3. A job is a place where your personal reputation impacts your results, whereas a company is a place where the brand is more important than the personality of the founder(s). 4. A job requires you to use your personal experience and expertise to get a result, whereas a company is a place where a process not a person consistently produces a desirable result. 5. In a job, you get fired for taking too much vacation, whereas if you own a company, the more vacation you can take without impacting your companys performance, the more valuable your business will be. 6. In a job, the harder you work, the more money you earn. In a company, the smarter you work, the more money you earn. 7. In a job, you solve the problems. If you own a company, your employees solve the problems. 8. If the majority of your customers know your mobile phone number, its likely you have a job, not a company. If youre not sure whether you have a job or own a business, its time to find out. Whether you want to sell now or in a decade I can give you something that allows you to see your business as a buyer would see it, and to identify how you perform on each of the eight key drivers of company value. The questionnaire takes a little bit of time to complete but after you are finished you will receive a customised report outlining how you performed and where you could improve the value and saleability of your company. Get your score now at this link and then let me help you get sacked from your "job" so that you can create a business that keeps you and your family in a lifestyle that you wanted when you went into business. Get the link here:- http://bit.ly/2lkMSGb

08.01.2022 I am so proud of this lady. She has been through plenty and worked really hard and is making great progress. Full story here http://bit.ly/2m2vBUr. If you want the same results, drop me a note.

08.01.2022 Prevention is better than cure To grow a valuable business one you can sell you need to set up your company so that it is no longer reliant on you. This can be easier said than done, especially when, like a PR consultant or plumber, what you are selling is your expertise. ... To scale up a knowledge-based business, you first have to figure out how to impart your knowledge to your employees, so that they can deliver the goods. However it can be difficult to condense years of school and on-the-job learning into a few weeks of employee training. The more specialized your knowledge, the harder it is to hand off work to juniors. The key to scaling up a service business can often be found by offering the service that prevents customers from having to call you in the first place. You have to shift from selling the cure to selling the prevention. Fixing what is broken is typically a hard task to teach; however, preventing things from breaking in the first place can be easier to train others to do. For example, it takes years for a dentist to acquire the education and experience to successfully complete a root canal, but its relatively easy to train a hygienist to perform a regularly scheduled cleaning. Its almost effortless for a real estate manager to hire someone to clean the gutters once every six months, but repairing the flooded home/business caused by the clogged gutters can be quite complex. For a master car mechanic, overhauling an engine that has seized up takes years of training, but preventing the problem by regularly changing a customers oil is something a high school student can be taught to do. For an IT services company, restoring a customers network after a virus has invaded often takes the know-how of the boss, but preventing the virus by installing and monitoring the latest software patches is something a junior can easily be trained to do. When youre selling your expertise, it can be tough to hire a team to do the work for you. As ironic as it sounds, sometimes the key to getting out of doing the work is to offer a preventive service, which not only maintains your business income, but also eliminates the need for someone to call you in the first place. To find out more about this and other subjects to help you create a valuable business check out http://bit.ly/2lRvqJ3

07.01.2022 What advice would you give someone going into a leadership position for the first time?

05.01.2022 Do you have a mentor? If so, what traits are you seeking in a mentor and why?

03.01.2022 What is the one behavior or trait that you have seen derail more leaders careers?

02.01.2022 Tips on Getting Your Business to be Attractive to a Buyer. If you want to be happily playing on the beach at sunset following the successful sale of your business then maybe have a look at these few tips. They may help reduce the stresses involved in the process. Find your lease. If you rent space, you may be required to notify your landlord if you intend to sell your company. Read through the fine print and ensure youre not scrambling at the last minute to seek permission... from your landlord to sell. Professionalise your books. Consider having audited financial statements prepared to give a buyer confidence in your bookkeeping. Stop using your company as an ATM. Many business owners run trips and other perks through their business, but if youre planning to sell, these treats will artificially depress your earnings, which will reduce the value of your company in the eyes of a buyer by much more than the value of the perks. Protect your gross margin. Oftentimes, when leading up to being listed for sale, companies grow by chasing low-margin business. You tell yourself you need top-line growth, but when a buyer sees your growth has come at the expense of your gross margin, he will question your pricing authority and assume your on a journey to the bottom of the commoditization heap. If youre lucky enough to have formal contracts with your customers, make sure your customer contracts include a survivor clause stipulating that the obligations of the contract survive the change of ownership of your company. That way, your customers cant use the sale of your company to wiggle out of their commitments to your business. Have a lawyer check over the language to ensure it has teeth in your jurisdiction. If you need any assistance with any of this head on over to http://bit.ly/2lRvqJ3 and drop me a note. We can then arrange a chat clarify your position.

01.01.2022 Progress is more important than perfection.

01.01.2022 When faced with two equally-qualified candidates, how do you determine whom to hire?

01.01.2022 Drivers of Value We have discovered that there are eight key drivers that drive the saleability of a business. Growth Potential... Another factor that affects the sell-ability of a business is growth potential. A lot of business owners when they think about their business want it valued on what they've done in the past. They are proud of what they have done in the past. That's normal. The fact that you won an association award, for example, or that you've got a 20-year business, or that you are recognised for your reliability. Whatever it is that you think you've done in the past. The hard truth of it is that when a buyer comes in, they're not buying the past. They're not buying what you've done. They're really only buying one thing, and that is they're buying your future stream of profits. What is this business going to do in the future? For you it's the end of the game. It's the finishing line. For them, it's the start. It's a different frame of mind. For them they want to understand, what can this business do in the future? So to improve your desirability using growth potential, you really want to make the case and focus on, what is the future potential of this business? Can it operate in a different market? Let's say you've been successful in Market A. Is it possible to scale it into Market B, C, and D? Could you cross-sell additional products and services to your existing customer base? Are there ways that this could work in different cultural markets, for example? All these are ways that you could significantly scale up the business. The answer to those questions is going to drive up your growth potential. That increase in potential will impact on the dollars you get to keep post sale. If you want to explore this more head on over to http://bit.ly/2lRvqJ3 and we can see if we can help.

01.01.2022 How do you maintain your and your team's daily motivation and inspiration despite obstacles, pushback or setbacks?

01.01.2022 There is a difference between offering a service and being willing to serve. They may both include giving but only one is generous.