Have you ever wondered, “Why do so many entrepreneurs work so hard and are usually stressed?” Maybe you’re experiencing some of this yourself? Do you ever ask yourself, “Why is it so hard to run a business?” No success story seems to have come easy. In fact, for many entrepreneurs, life can be so challenging, sometimes it’s tempting to just get a job! Why is that the case?
as an entrepreneur is getting into business there difficulties in order to penetrate the chosen market or business. it has solutions in how to overcome the barriers.
it is all about the teething problems of startups and the hardcore nuggets need to navigate this storm.
In the word of an investor cum entrepreneur :
"Starting a business is like building a ship and embarking on a voyage, armed with a plan, a map and a team. You will have to sail against storms, unpredictable weather and uncertainty. If your ship sinks, it\'s either you quit or you swim back to shore, build a new ship and sail again. "
Demetris C. Hadjisofocli. Basic information on what is entrepreneurship, how to setup a business, what are the issues to consider as well as sharing examples of case studies in the field. The presentation is used for an introductory class at the university level. A definition of systemic entrepreneurship, a termed and a process that I developed and coined and use the last 2 years, was given out.
No magic pill to become a successful women entrepreneur: Radhika Garg, Rajdar...Radhika Garg
About Radhika Garg:
Radhika Garg is a dynamic and passionate Indian entrepreneur, a part of the Board of Directors at Rajdarbar Group. She has years of experience across several industries and had successfully launched and invested in different business ventures.
Radhikagarg@myiyc.co.in
as an entrepreneur is getting into business there difficulties in order to penetrate the chosen market or business. it has solutions in how to overcome the barriers.
it is all about the teething problems of startups and the hardcore nuggets need to navigate this storm.
In the word of an investor cum entrepreneur :
"Starting a business is like building a ship and embarking on a voyage, armed with a plan, a map and a team. You will have to sail against storms, unpredictable weather and uncertainty. If your ship sinks, it\'s either you quit or you swim back to shore, build a new ship and sail again. "
Demetris C. Hadjisofocli. Basic information on what is entrepreneurship, how to setup a business, what are the issues to consider as well as sharing examples of case studies in the field. The presentation is used for an introductory class at the university level. A definition of systemic entrepreneurship, a termed and a process that I developed and coined and use the last 2 years, was given out.
No magic pill to become a successful women entrepreneur: Radhika Garg, Rajdar...Radhika Garg
About Radhika Garg:
Radhika Garg is a dynamic and passionate Indian entrepreneur, a part of the Board of Directors at Rajdarbar Group. She has years of experience across several industries and had successfully launched and invested in different business ventures.
Radhikagarg@myiyc.co.in
How to Start a Successful Small Business: Tips to Startup EntrepreneursPowerHomeBiz.com
What do you need to successfully start a small business? Here’swhat a startup entrepreneur needs to do to increase chances for success. For complete article visit http://www.powerhomebiz.com/blog/2010/05/tips-to-startup-small-business-entrepreneurs/
Entrepreneurship Development PPT IntroductionMadhusudhanGoud
Entrepreneur is the person who can change the fate of the environment and also society at large. in this PPT i explained the introduction of entrepreneurship and its importance.
Covers answers of two majorly asked questions in the field of entrepreneurship and the questions are-
What makes your business unique in 21st century and how can you get success?
Elaborate challenges or threats on entrepreneurship in 21st centuries and how they are converted to opportunities?
Characteristics of successful entrepreneurs, How to start a business, Habits of successful entrepreneurs, Some highly successful entrepreneurs - Walt Disney, Small kids who are very successful
Presentation on how industry disruption occurs, the growth of ideas, and creating an entrepreneurial mindset within the workforce. Burcham shares his "Idea Frame" as well as his "Personal Progression Map"
How to Start a Successful Small Business: Tips to Startup EntrepreneursPowerHomeBiz.com
What do you need to successfully start a small business? Here’swhat a startup entrepreneur needs to do to increase chances for success. For complete article visit http://www.powerhomebiz.com/blog/2010/05/tips-to-startup-small-business-entrepreneurs/
Entrepreneurship Development PPT IntroductionMadhusudhanGoud
Entrepreneur is the person who can change the fate of the environment and also society at large. in this PPT i explained the introduction of entrepreneurship and its importance.
Covers answers of two majorly asked questions in the field of entrepreneurship and the questions are-
What makes your business unique in 21st century and how can you get success?
Elaborate challenges or threats on entrepreneurship in 21st centuries and how they are converted to opportunities?
Characteristics of successful entrepreneurs, How to start a business, Habits of successful entrepreneurs, Some highly successful entrepreneurs - Walt Disney, Small kids who are very successful
Presentation on how industry disruption occurs, the growth of ideas, and creating an entrepreneurial mindset within the workforce. Burcham shares his "Idea Frame" as well as his "Personal Progression Map"
Business owners generally go into business because they are passionate about what they do, not because they are passionate about running a business. Yet in today’s economic climate, it is even more important to understand how to effectively manage the business in order to survive.
The Business Growth Masterclass series is designed for smaller businesses. Its cost effective masterclasses give you the chance to understand how a business works and how to grow your business by working smarter, not harder. It’s like getting the practical bits from an MBA at a fraction of the cost.
Successful selling in a new market or new business is a blend of art and science, creativity and discipline. But no matter what you’re selling, and to whom, a certain foundation of core strategies can get you off on the right track and accelerate your path to customer and revenue growth.
Sales for Startups gives entrepreneurs, business owners and startup leaders a set of fundamental sales tools, processes and best practices to begin selling and producing results fast, with a foundation in place that can facilitate rapid scalability. Whether you’re building a sales effort from scratch or looking to improve an existing team, this book will give you specific new ideas and insights to hit and exceed your number.
Original article from the Flevy business blog can be found here:
http://flevy.com/blog/business-is-a-contact-sport/
Too many businesses, young or old, struggle or fail because they never understand that you have to practice, practice, practice, then get in the ring and fight as if your life depended on it!
Business is a brutal contact sport for five main reasons, and it’s getting worse. You will not survive, grow and prosper:
1. if you don’t listen to and learn from your customers and others who know more about them than you do
2. if you can’t sell to customers empathically and build their sustained trust and loyalty
3. if you don’t understand and outmanoeuvre the competition in whatever form it comes
4. if you don’t learn fast and adapt by experimenting, finding out what works, and perhaps even more importantly, drop like a stone your cherished preconceptions, prejudices and sacred cows that don’t or won’t work
5. if you can’t retain, motivate and enthuse great staff.
If you want to win, and go on winning, be prepared. It will bruise you like going 15 rounds with Muhammad Ali!
The bewildering choice available to customers and their ability to gather and test information rapidly via the Internet are ruthlessly exposing weak business models, knowledge, thinking, attitudes, character, messages and behaviour like never before.
On 1 st January, my 4 business partners and I officially re-launched my company Resolve Gets Results to address the same three problems we constantly encounter in businesses we work with, which drive us crazy!
• They are obsessed with their product or service, which they assume everyone will love like they do, not with customers.
• They are dangerously preoccupied and distracted by internal perspectives (what I call ‘inside-out thinking’), including unrealistic financial objectives, restructuring, unsubstantiated opinions, personalities, personal crusades/ego trips, power struggles and politics.
Thewiseentrepreneur.co.ug is passionate about entrepreneurship, developing capacity in people and organizations, and transforming people through paradigm shifts, win-win mindset, and knowledge sharing.
Clarity Focus Action - for business with marketing departments of one.Shannon Eastman
Find customers, get results from marketing, get clarity, bring focus, take action to move your business from stuck and frustrated to deliberate and in momentum.
As we do more work with associations, corporations, chambers of commerce and business groups, we have been asked to develop a formal speakers kit outlining our topics of expertise.
The speed at which a business needs to evolve continues to accelerate. Consumers and employees have increasingly high expectations for how a company should operate and the services it should deliver, while entrepreneurs, business owners, and executive teams are increasingly under pressure on how to meet those expectations. Yet, despite this reality, many organizations continue to fall behind. The mid-market sector, in particular, tends to struggle the most with keeping up with our rapidly changing world. But it doesn’t have to be this way. There
are things companies can do today, right now, that can make a huge difference in what happens tomorrow.
In today’s unpredictable landscape, with so many businesses at a proverbial fork in the road, it is the perfect time to unveil our future-proofing strategies to help you stay relevant, unlock hidden opportunities, and achieve unprecedented growth, all while living a happier and more fulfilled life.
Similar to 5 Biggest Business Challenges Entrepreneurs Face (20)
http://www.petsgroomingtips.com/ Some people just don’t have the stomach for the usual cat and mouse animals, but prefer the challenge and thrill of owning something unique & rather eye catching. It’s a great way to feed your exotic animal fetish and hobby-ish nature. If you ever thought owning some exotic pets would be a colossal nightmare in care and possession, you would be surprised to know that the animals mentioned below are actually being kept as pets.
http://www.petsgroomingtips.com/ You spend hours with them every day. They’re adorable, cuddly, funny, soft. At times they can be infuriating, but you love them anyway. Every feline has peculiarities and idiosyncrasies, but domestic cats also have a lot in common… and some of these generalities, you might not be aware of.
http://www.petsgroomingtips.com/ The most common reason to keep a pet is for companionship, so this benefit won’t come as a surprise to anyone. People who don’t have a cat in their lives often believe that cats are unsocial, distant pets. If you’ve ever been the recipient of an affectionate head-bunt from a friendly kitty, you know that the “unsocial” myth is indeed a myth. Cats are not the solitary animals that they had been believed to be.
According to a census, people of Unites States alone possess about 90 million pet cats. Cats have been highly favored as pets as these creatures are very lovable and could influence anybody with their beautiful appearance. PetsGroomingTips.com focuses on home grooming affordable and practical tips for the readers. Instead of anxiety laden trips of the animal to the vet, the instruction could well be used to bathe the animals in a quick and effective way.
www.petsgroomingtips.com is one of the front-runners in providing complete digital information to the pet owners. Old age is something which is dreaded by one and all. It is characterized by loss of energy, lesser vitality and more of inclination towards rest. Old age is experienced by all, including your lovely pets due to which their notorious activities cease to happen and they live a serene life.
www.petsgroomingtips.com is one of the front-runners in providing complete digital information to the pet owners.Cats are known for their playful and notorious activities and are considered in good health when they remain in a jubilant mood. But many a times, the activities and behavior of your cats could be affected due to some body disorders which have certain indications before.
At naturalJuices.co.uk, we are passionate about achieving the utmost health through natural health supplements and juices. We inspire and encourage people to be more conscious of their health and invest properly for their wellbeing. Our team of experts in natural herbs, nutrients, minerals and vitamins ensure we only deliver products and services in line with customer’s essential needs.
A dog toy is specifically meant for dogs to play with. There are various types of dog toys that are available in market and they are explained well in the presentation. www.petsgroomingtips.com has made a huge effort to bring the required material into the public domain so that the pet owners from every nook and the corner of the globe could benefit. Neglecting the health of the animals can prove detrimental to their lives. Change in the behavior of the pets sends subtle warning signals but very few people are able to understand.
At naturalJuices.co.uk, we are passionate about achieving the utmost health through natural health supplements and juices. We inspire and encourage people to be more conscious of their health and invest properly for their wellbeing. Our team of experts in natural herbs, nutrients, minerals and vitamins ensure we only deliver products and services in line with customer’s essential needs.
One must let their four leged pet know about the dangers that are there in their houses. www.petsgroomingtips.com has made a huge effort to bring the required material into the public domain so that the pet owners from every nook and the corner of the globe could benefit. Neglecting the health of the animals can prove detrimental to their lives. Change in the behavior of the pets sends subtle warning signals but very few people are able to understand.
www.petsgroomingtips.com is one of the front-runners in providing complete digital information to the pet owners, which would guide theme through various process of grooming their beloved kids. A shabby puppy or kitten not only appears dirty but soon infested with disease if not treated properly. Our various tutorials and free PDF guides cover every aspect of the grooming process.
www.petsgroomingtips.com is one of the front-runners in providing complete digital information to the pet owners, which would guide theme through various process of grooming their beloved kids. A shabby puppy or kitten not only appears dirty but soon infested with disease if not treated properly. Our various tutorials and free PDF guides cover every aspect of the grooming process.
LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
Have you ever heard that user-generated content or video testimonials can take your brand to the next level? We will explore how you can effectively use video testimonials to leverage and boost your sales, content strategy, and increase your CRM data.🤯
We will dig deeper into:
1. How to capture video testimonials that convert from your audience 🎥
2. How to leverage your testimonials to boost your sales 💲
3. How you can capture more CRM data to understand your audience better through video testimonials. 📊
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
Know more: https://www.synapseindia.com/technology/mean-stack-development-company.html
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Affordable Stationery Printing Services in Jaipur | Navpack n PrintNavpack & Print
Looking for professional printing services in Jaipur? Navpack n Print offers high-quality and affordable stationery printing for all your business needs. Stand out with custom stationery designs and fast turnaround times. Contact us today for a quote!
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
2. Have you ever wondered, “Why do so many entrepreneurs work so
hard and are usually stressed?”
Maybe you’re experiencing some of this yourself?
Do you ever ask yourself, “Why is it so hard to run a business?”
No success story seems to have come easy. In fact, for many
entrepreneurs, life can be so challenging, sometimes it’s tempting
to just get a job! Why is that the case?
9/22/17 2
3. We’ve been asking our clients the same thing and to help them
and below are what we aim to cover in this article:
• The 5 Most Common and Biggest Business Problems faced by
entrepreneurs?
• Tips on Growth Strategies for large and small businesses alike
• Why there’s no easy and quick fix to one of the most common
questions “How to Grow My Business?” BUT how getting it right
means that 100% growth spurts are achievable for even part-
progress on the right track!
It’s very rare to hear about an entrepreneur who didn’t find
challenges in growing and running their business. In working very
closely with over 130 different businesses from agriculture, financial
services, technology, property, logistics, cyber security, physical
security, health, nutrition, professional services and many more, you
may be surprised to hear that businesses of all different shapes and
sizes face very similar challenges. In this blog post, we’ll cover the
Top 5 Problems faced by Entrepreneurs and Business Owners.
The surprising thing is that fundamental problems remain similar
whether a business turns over $100,000 per year or $10BN per year.
These aren’t the only challenges businesses face, but in working
with a wide variety of businesses primarily as close “Right-Hand”
Advisers and Business Strategy Consultants; we’d almost need to be
completely blind not to notice the patterns.
We’ve been really fortunate to work with some amazing businesses
and entrepreneurs, from micro start-ups to corporate-funded start-
ups. Where the business owners literally put the business on their
credit card, live with their parents and work from home; or start-ups
who have gained investment of $40m+ in capital and need to
satisfy their shareholders.
9/22/17 3
4. On the other end of the scale, we’ve worked with businesses that
are mature and have been in the family for 30-40 years; and
publicly listed companies that are over 180 years old.
From teenagers running web-based businesses to BRW billionaires
in Australia and super high-net-wealth entrepreneurs overseas –
we have gained priceless insights into business challenges
around the world. The mind-blowing thing is, although the type of
business, industry, location, ownership structure or personality of
the CEO may all be different; there are common patterns which
are VERY similar when it comes to fundamentals!
This is good news, because finding patterns allows for
accelerated learning, which helps avoid costly trial and error. The
bad news is, 90% of the success depends on implementation.
Knowing what to do doesn’t make doing it any easier, but it can
make it a lot simpler.
So here are the 5 main challenges we’ve found to be common
across businesses. Note: These are not the only problems faced;
they are just the most common ones that every single business
we’ve worked with has encountered. Yes, that’s right… every
single one has struggled in one or more of the problem areas
listed and zero have escaped!
9/22/17 4
5. The 5 Problem Areas Are:
1. How to get more customers or how to increase sales with
existing customers
2. How to hire, manage, train and retain staff
3. Financial challenges – How to gain control of business finances
4. Business strategy – What is it? How is it done? How to build a
good strategy?
5. Leadership – How to become a better CEO & become a better
leader?
Unless you’re planning on staying small, it’s highly unlikely that
you’d have all of these areas under control for very long. What
you can do is improve these areas in a way that won’t have you
dying from stress on a daily basis and actually make running your
business more enjoyable!
5 Business Problems
Faced By
Entrepreneurs
Financial
Challenges
Sales
Business
Strategy
PeopleLeadership
9/22/17 5
6. Let’s understand these issues so we can minimize them.
1. Sales – How to Get More Customers or How To
Increase Sales
Surprise Surprise…
This had to be one of them, right?
Absolutely. Even though a business may be killing it, the moment
they start to grow and put more staff on, invest in their
infrastructure or systems, enter new markets, or basically just spend
money; the requirement to sell more becomes a top priority to
cover the added overheads.
Why can it be difficult to get more customers or increase sales to
current customers?
Well, there are two parts, which are separate, but highly
connected, that entrepreneurs often miss.
Attracting customers (Marketing) requires addressing the
fundamental strategic aspects as well as some heavy technical
aspects. Let’s take content marketing through social media for
example.
1. The “Strategic” aspects you’ll need to focus on can include:
1. Content creation
2. Deciding on your target market
3. How you’re going to promote and how you’re going to
convert a customer.
9/22/17 6
7. Then there is the technical aspect:
1. How do I upload and share content to social media?
2. How do I create and manage social media ads?
3. Where do I store leads and how do they flow on to the sales
team?
4. How do I track analytics and customer behaviours?
2. The bulk of the detail is in “Implementation”, and it’s hard to
know how everything works, so a lot of ‘fiddly’ time is spent figuring
things out. Without getting the strategic part right, it can be really
easy to burn a lot of energy on something that leads you down the
wrong track, wasting a lot of time, and getting little results. Without
good implementation, the best strategies in the world are
absolutely worthless!
Next, we come to making the transaction (Sales). This is where your
customer pays you and as a result, funds land in your bank
account.
We can address sales in three parts:
1. First, you need to address the Science of Sales
2. Then, there is The Art of Sales, which directly impacts customer
experience and
3. Lastly, be able to Lead, Teach and Inspire a team to sell and hit
targets (If you have a team or want to build one).
We once had a client who wanted to build a sales team, but no
sales staff member would stick for more than 3 months. Some
people would leave within one week! Our client thought they
might have just sucked at hiring, so they got us to hire a team for
them. We used a thorough process to build a team, but guess
what? Within 3 months, the entire team were all gone again.
9/22/17 7
8. What did we find? Absolutely no sales plan or strategy at all!
The ‘science’ behind selling was incomplete. What initially looked
like a “people” problem, or a “hiring” problem turned out to be
something completely different. There were over a dozen ’causes’
that were creating symptoms clouding the real issue. To give a few
examples
1. It became quickly evident that an unclear sales process was
confusing sales staff.
2. Missing documents and marketing material caused sales staff to
stumble, especially when customers were interested. By the time
documents were developed, the opportunities were missed.
3. Vague expectations on roles, responsibilities and KPI’s. This
created role crossovers, gaps, and confusion about who is
responsible for delivering outcomes.
4. The business’ message and value proposition were so hard to
understand, that it didn’t just confuse customers, but their own
team as well!
5. Poor leadership
6. No training
7. Poor culture
8. And the list goes on…
9/22/17 8
9. Here is a short tip on sales From my book, “100 Business Insights”
__________________________________________________________________
Insight 33
Selling is not just an art – you need to develop a structured sales
plan.
People often associate sales with smooth talkers, people who have
the
gift of the gab, and people who are charismatic. Truthfully, some of
the
best salespeople I’ve met are quite the opposite. The best
salesperson I
know is not a smooth talker, but just a genuine guy, and people like
him, trust him, and buy from him. The key is, that the best people
don’t
just rely on their talking ability, whatever your style is, you need a
strong
sales plan
__________________________________________________________________
The Art of Selling is another story, and this is what our particular client
in my example had been good at.
He was able to sell despite all the missing components that his sales
team needed. He compensated through being really good at the
Art of Selling by:
1. Knowing his industry inside out
2. Being 100% confident and making up processes along the way.
3. Remembering the details off by heart
4. Being super passionate and,
5. Being able to answer any question asked by his customers…
9/22/17 9
10. But when it came to his sales team, who were all new; they didn’t get a
chance to learn, let alone perfect the ‘art’.
New hires don’t have the advantage of dozens of years of history to wing it
and be successful. They are flat out trying to understand the processes,
policies, and politics within their new environment. They’re in a new
company, with new people and new rules. They need systematic knowledge
transfer just to catch up!
A certain level of science in the transferring of knowledge is needed so that
the art can be made effective. That’s why one business can hire a proven
seller in one company, but when they come and work for a new company,
the results can be completely and shockingly different! Sales teams need
leaders who can lead, teach and inspire a team to sell and hit targets.
But doesn’t a CEO, manager or entrepreneur know this?
Well, don’t feel bad if you don’t, because it can elude even the smartest
and most switched on person, as “inter-relationships” are often invisible and
the number of variables is high.
Think of a 2-digit pin. After enough guesses, even if you don’t know the pin,
you’ll end up guessing it. But what about a 4-digit pin? You can be there for
a week trying as many combinations as you can think of, but you’re not
going to get far.
What about business then – where the combinations could be almost
limitless with no right answer…?
This is why 96% to 99% of businesses fail, there are many, constantly changing
variables which force companies to adapt or die! This is why even huge
companies that seem invincible, fall.
Don’t let this scare you, there is a light at the end of the tunnel and the prize
for getting it right is often life changing.
There are many ways to grow and protect your wealth along the way. We
are just being real and open about what we’ve come across. I’ll dig into
more detail about gaining customers in one of my next blogs. Let’s continue
to the second biggest problem.
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11. 2. People – How to Hire, Manage, Train
and Retain Staff
At every workshop or seminar that we’ve held, we’ve asked the
question: “How many of you experience people problems within
your team”? 100% of hands go up each and every time. No
exceptions. Ever.
So why is the people side of business so difficult? Apart from all the
inter-relationships across the different functions mentioned earlier,
there are 5 Key Areas that generally don’t get enough attention or
investment. They include:
2.1. HIRING
Most entrepreneurs don’t put enough thought and rigour into the
hiring process. Even large companies can fall into the trap of hiring
someone they know, or wants the job; rather than going through a
solid process to hire the best person AND best fit for the company.
2.2. TRAINING
Now that a business has just committed anywhere from $50,000,
$100,000 or more into recruiting a staff member, do they provide
first class training to help the person (your massive investment) get
really good at their job, every single time?
Actually, forget “first-class” for the moment. How about just
enough training? If you do, you’re a rare exception! Most
businesses throw their new hire into the deep end and expect
them to figure things out. That’s great if you pick up a superstar, but
for the most part, people need a little training every now and then.
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12. Here’s what I wrote about training in my book
_______________________________________________________________
Insight 75
Invest in training! But make sure people use what they’ve learnt.
What’s the use of hiring talented people if you don’t maximise
their
value in your organisation? Invest in your team. Train them or send
them for training externally. And, get your team taking action
and
applying what they’ve learnt, right after they’ve learnt it;
otherwise,
people forget
_______________________________________________________________
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9/22/17 12
13. 2.3. MANAGING
The scary thing about “managing” is that most managers are not
trained to be managers!
Think about it…
If you operate your own private business, have you received
extensive training on how to be a good manager? Have your staff
who manage other team members been trained to excel at
management? Probably not.
Now, even if you’ve been trained, are you great at it? Are you a
brilliant manager or are you figuring it out along the way? We’re
not even talking about leadership yet, that is a whole different ball
game altogether.
2.4. DEVELOPING
Do you have a systematic way of improving your staff to their
potential beyond their current role?
The difference between training and developing is that training
makes your staff better at their job while developing your staff
prepares them for what’s beyond their job. This is a critical part of
succession planning.
• Do you have someone who can take over your role in the
event you can’t run the business for a period of time?
• Will that person have someone who can take over their role if
they do move up to take your role?
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14. Developing yourself and your team will help you get to new
heights. Apart from not having the right people on board,
developing your team for succession planning is one of the
missing elements facing many businesses. Some businesses do
this from time to time, but the benefits of developing staff are
often long-term in nature, so team development usually takes
the back burner.
2.5. RETENTION
How are you going to keep an asset you’ve invested all that
time, energy and knowledge in (not to mention financial
investment you’ve made)?
Do you have a systematic retention strategy and plan which
encourages your team to stay?
How do you keep great team members who may be receiving
offers from your competitors, suppliers, customers or just the
general job market?
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15. 3. Finance.
One problem with 9 out of 10 entrepreneurs we’ve met (yes, a
scary number) is that they don’t even get financial information
provided to them at all, apart from their tax return once a year!
You might be asking yourself… “How do I Gain Control of My
Business Finances”? The first step is having the right information.
• Do you have access to the right information that you need to
make business decisions in a timely manner?
• Do you even get a profit and loss statement, balance sheet and
cash flow statement every month at the very minimum?
Most business owners don’t, which is not surprising to see why they
don’t even like the numbers.
• Do you get forecasts for sales over the coming few months?
• What about cash flow and working capital forecasts or KPI
reports with lead indicators?
If you do get all these, you are one of the rare ones! “High 5” to
you!
Secondly, let’s say you do get the information above, ask yourself:
• Do you feel like you have clear financial visibility? Or do you feel
like you’re still blindfolded?
• Is the information you get structured right so that you can make
clear decisions?
• Is the data clean? Are transactions being classified and
recorded in the right way and put in the right hole? How do you
know?
• Do you have ways to systematically check and make sure?
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16. If you don’t, then you may be getting a whole lot of wrong
information, and basing big financial and business decisions on
the wrong scoreboard. Does that sound a little risky?
Here is a quote from my book “100 Business Insights” which talks
about this.
______________________________________________________________
Insight 67
“Understanding financial performance is key to being able to
adequately run your business.
Business is like a game, and like most games, it has a
scoreboard.
Understanding how the scoreboard works helps you make
decisions
about what to do in the game. If you don’t know how to read,
interpret
and analyse the scoreboard, then you don’t really know how to
play
the game.”
______________________________________________________________
The next challenge is, when you do end up getting the right
information, and you have complete visibility of the scoreboard,
do you actually understand it? Or does it look completely
foreign?
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17. Do your financials look like this to you?
(Two business owners trying to make sense of their financials… Might as well be looking at a
cockpit of a plane without knowing how to fly!)
The thing is unless you own an accounting firm or are in financial
services, as entrepreneurs most of you never did an accounting
degree, so it can be difficult to understand what all the numbers
mean. In our experience, even seasoned finance professionals find
it a challenge to understand the meaning behind numbers they
prepare. Because they are so technical and specialized, they can
overlook the bigger picture.
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18. The third and probably hardest part to deal with is actually playing
the game. Going out and improving sales, managing the bottom
line, and making sure there is enough cash!
Running out of cash is like running out of jet fuel, you only have to
run out once! And if you don’t know how much is REALLY left in the
tank, because your scoreboard isn’t correct – Whoops!
By the way, have planes run out of fuel and crashed before?
Absolutely. Do businesses run out of money and crash? Absolutely.
VIDEO: How To Hire Staff Overseas And Save 50% to 75% in Staff
Costs
9/22/17 18
19. If you’ve made it as far as getting across all of the above, then
that’s fantastic – and again – extremely rare. Give yourself a pat
on the back!
Now it’s time to fly the business safely – do you know how to do it?
Are you able to control the buttons & levers in the cockpit? Do
you know what actions to take that will actually make an impact
on the numbers and create the type of results you want? Or are
they just a bunch of numbers to you? And what about the times
when things go wrong? (which wouldn’t be that often in business
right? Not!).
How do you handle it? How do you cope with the stress and lead
your team to victory?
Tune in for part 4 and 5 of this blog to find out about Business
Strategy, Leadership as well as finishing off with some of our big
AHA insights moments!
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our blogs at the top right corner of this page and watch out for
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