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Top 10 Tips for Better Business

by Catherine Jordan

01 27, 2015 | Posted in Blog | 0 comments

Successful-business-tips What Motivates You Why did you start the business in the first place?

  • What are your own goals that you are working towards
  • Take some time out to visualise what you really want to achieve
  • Google pictures that represent what you want to achieve. The more visual the better. This will help you to stay going when you need the extra motivation
  • Put a time line on the goals you want to achieve. Without a time line they are just a dream, unlikely to be achieved
Be Passionate about It Life is too short to work at something you dislike doing.
  • If you have to work at something you don't like doing, start planning the date you intend to stop doing it.
    • Your exit plan will help you stick it out until you can get on with what you really want to do.
    • More businesses fail because the owner manager does not enjoy the work anymore.
  • Your tone will set the tone for those around you.
  • If you love what you do you will attract people who enjoy it too.
Vision is Key I know, I know...every business book you read tells you that you should have one and most people think that is just for big Corporates but trust me you really need to have one, irrespective of the size of your business.
  • A vision sets out the long term goal for your company
  • Your vision represents the point in the future you are aiming to reach
  • It helps to keep you focused!
Create your Business Values Did you ever find a situation when you were working with someone and they offended you some how... It could be just that they were late for the meeting or said something inappropriate to you and something inside you said that that was just not acceptable...it's likely they offended one of your core values without you even knowing it.
  • If you’re in business and you have people working for you and you want them to work with the same ethos as you then you got to set out what your core values are
    • Write them down.
    • Communicate them
    • Live by them
    • Most of all hold people accountable to them.
Know the Purpose of your Business.  This sounds like a strange thing to state but this helps you explain to others what your business really does.
  • It also helps other to describe your business to other people.
  • It is the basis of a great tag line!!
Set out Short term, Achievable Business Objectives These objectives should include Financial (turnover, profit) Customer (which existing customers to grow (and how), which customers to target (put names on them if possible) Marketing (2 or 3 specific marketing activities to achieve the above) Efficiency (2 objectives to reduce costs or improve efficiency) Tier your Existing Customers Know who your customers are and I mean really know them...
  • Create 4 tiers (you can decide the amount of tiers but don't have too many).
  • Each tier should represent a revenue amount, i.e: Tier 1. €50k +, Tier 2. €30-50k. Tier 3. €10-30k. Tier 4. €0-10k.
  • There should only be a few tier 1's. 3 is a nice number here... If u have too many, then change the value settings of your tiers..
Analyse the Tiers.
  • Look for trends within the tiers.
  • Are they made up of a certain type of customer? If so that's great it will help you identify specific marketing channels to win more of them
 Measure Activity What gets measured gets done.
  • Decide on the few key metrics, 3-5 metrics is about right but you decide how many.
  • Definitely include a financial metric (profit (gross or net), costs (cost of sales, unit production costs), contribution (bottom line revenue).
  • The rest of the metrics can be anything you feel is important enough to focus on.
  • Make sure everyone knows you are looking at these figures because if they know they are important enough to you then they are important for them.
  • If possible develop a dashboard of these metrics and communicate them regularly (daily, weekly, monthly)
Constantly Develop Your Own Skills Investing in your own skills will be the best investment you will ever make. It will pay you back in multiples. You never know what you don't know!
  • You don't have to go back to college
  • There are great one day programmes on all subjects imaginable.
  • There are loads of group based development programmes that you could get involved in.
  • Read a book, even one every two months. I guarantee that you will find at least one nugget that will improve your business.
"Do what you love.... Love what you do.... Deliver more than you promise!"

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Can you build a business without being passionate about it?

by Catherine Jordan

01 06, 2015 | Posted in Blog | 0 comments

Passion-and-Leadership

Can you build a business without being passionate about it?

The answer is YES……..

Can you sustain this business over the long term?

The answer is NO……..

Are you ‘In Love’

I meet so many business owners over the course of my work. Usually within the first 10 mins of any conversation with an owner manager, I can tell whether they are in love with their business or not.

Challenging yourself

Usually at this point I will challenge them about this and ask them what they really want:
  • Do they want a business that turns a profit for the short term OR
  • Do they want to build a business that is sustainable over the long term…..
the latter can’t be done without the passion… without the mojo of the owner manager themselves…

Plug the dam or build it better?…

We can usually fix short term problems…
  • stop cash from leaking from the business
  • concentrate on the existing revenues sources and make sure that they continue to yield an income and solidify over the medium term
then we can focus on identifying new revenue sources we can work on to secure the future of the company… all of these are mechanical solutions that any half good business consultant or advisor will help you with….

Spot the Difference and be GREAT…..

The difference between good consultants and really good advisors is that they will spend as much time trying to give the owner manager a feeling of personal satisfaction as much as business satisfaction.

Falling in Love Again….

Often this is the first issue that needs to be tackled in making a business a GREAT business is to make the business owner FALL IN LOVE with their business again….
  • to reignite the passion….
  • to set a realistic but ambitious vision for the business..
  • to give the business a real purpose again…
  • give it guidelines within which to do its business (Values) and…..
  • set fire to the company’s real potential.

Reigniting the Passion

At the centre of this is knowing what the company is best at.. What it really excels at, the products or services that it has built its reputation on or the ones that it knows will be relevant for the company and is excited about delivering in future.

So tell me what you want…..what you really really want….

So which do you want…. A short term bump in your bottom line, quick fixes that address immediate problems or long term ambitions that makes YOU and your company come really alive….

If I can help you re-ignite the passion in your business or help you with a marketing plan – give me a call on 086 269 9111 or visit our website: marketmybusiness.ie

 

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So You Want to Write a Blog…

by Catherine Jordan

10 07, 2014 | Posted in Blog | 0 comments

BlogChoose the kind of blog you want to create. Get yourself a memorable title that embodies the essence of your Blog and of you or your company and try and find yourself a niche subject matter.  

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