Adelaide Business Owners get back to basics.

Due to the current global challenges facing the Australian Economy, together with increased competition in most sectors, Business Owners are finding it harder and harder to manage their Financial and Legal responsibilities. More and more Business Owners I am talking to in and around Adelaide are feeling isolated when it comes to receiving the support they need to manage the day to day challenges presented to them around the areas of Time, Team and Money. Fundamental principles regarding margins, selling, accounting, time management, HR, recruitment, marketing, reporting are all being ignored in the pursuit of quick fixes through platforms like social media & the internet.
SA Business Coaching one on one mentoring programmes allow a customised approach to learning which results in an increase in self awareness, motivation and attitude.

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Step Up or Cut Back?

With current business conditions being tight, the global outlook being grim and the R Word being thrown around, Business Owners are faced with a massive decision, do I cut back and batten down the hatches and get ready to ride out the current financial storm or do I step up and be better tomorrow than I was today in key areas of my business.

I am amazed how many people take the ‘accountants view’ when times get tough and look to trim the fat from their expenses instead of reviewing the key departments that can turn their business around. I recently reviewed a business that had spent the past 3 months finding ways to trim 5% from their fixed expenses. Don’t get me wrong saving 5% of 200K is a good thing but when I can teach them how to increase their margin by 5% on a turnover of 950K then the math looks after itself. This was achieved in just under 2 hours leaving plenty of time to trim the fat from their expenses.

Don’t wish things could be easier, instead get a mentor who can push you to be better.  It is very difficult to see the Forrest for the trees especially when you are under financial pressure. Most people have never navigated their way through economic conditions like we are currently experiencing so doesn’t it make a little bit of sense that you may need help to find the way out.

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Do you Want or Need more Money from your Business?

I am yet to meet a Small Business owner that has said No to this question, even though the majority of people I talk to don’t list this as the major challenge in their business causing them stress.

The first thing I need to get clarity around before I can help any business owner ‘earn more money’ is WHY?

Some Businesses I talk to are holding good margins for their industry but experience poor cash flow, others have reasonable cash flow but have poor profitability and some have both.

Understanding exactly why you need to earn more money from your business allows me to methodically find the cause to the problem and inevitably provide a solution.

If you need more money from your business let me come out and determine whether it is a cash flow or profit problem, then I can find the cause/s and together we can implement strategies as part of the solution.

The problem is normally fairly easy to find, the solution easy to understand but having the discipline, knowledge & experience to implement the strategy: that is where a coach can help!

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Beliefs around Business Coaching and Mentoring.

1. Constantly Challenge Yourself. I believe that not much happens of any significance when we live life in our comfort zone. Working with me is definitely about working outside your Comfort Zone- change starts within.

2. Learn by your Mistakes. Almost nothing works the first time it’s attempted. Just because what you’re doing does not seem to be working, doesn’t mean it won’t work. It just means that it might not work the way you’re doing it. If it was easy, everyone would be doing it. Don’t ever wish it was easier; just wish you were better at it.

3. When you’re ready to Quit, you’re Closer than you Think. There’s an old Chinese saying that sums this up the best. It goes like this: “The temptation to quit will be greatest just before you are about to succeed.” As your coach, I will never allow you to quit.

4. Frustration is a Choice; it’s just not a preferred choice for me or my Clients!  Hope for the best, and plan for the worst in every situation. It is great to be optimistic, however if you can teach yourself to not only accept the worst thing that could happen in each situation, but make it a point to quantify what the worst thing could be, then you will never be disappointed or frustrated. Very seldom will the worst case ever eventuate.

5. Focus on what YOU want to have Happen. Too many times people focus on what they ‘don’t want to happen’ not what they ‘do want to happen’. Remember that old saying, “As you think, so shall you be.” Nobody has ever reached their potential with a negative, victim based attitude.

6.  Be quick to Decide. Fear builds procrastination and procrastination is one of the biggest burdens to a business owner. Working with me allows you to see the forest for the trees and helps with the hardest decisions. Remember what General George S. Patton said: “A good plan violently executed today is far and away better than a perfect plan tomorrow.”

7. Measure Everything of Significance. I swear this is true. Anything that is measured and watched, improves. People respect what you inspect and everything that happens in your business can be reflected in a number, if you know where to look. Knowing what numbers to watch is where I can help

8. Pay attention to your Competitors, but pay more Attention to what you’re Doing. When you look at your competitors, remember that everything looks perfect at a distance. Concentrate on what is happening in your back yard first, that is where the biggest gains are made.

9. Don’t take Yourself too Seriously. Lighten up. Often, at least half of what we accomplish is due to luck. None of us are in control as much as we like to think we are. I welcome all control freaks onto my team because like you, I like results!

10. There’s always a Reason to Smile. Find it. After all, you’re really lucky just to be alive, think of the alternative before you next play the victim. Life is short- live it, love it and practice gratitude .

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Succession Planning

Family Business Surveys confirm time and time again that the handing over of the business leadership is very rarely planned.

A lot of people think succession planning is simply a case of abdicating the responsibility to a successor once the incumbent either decides to or is forced to retire.

Unfortunately this seems to be more than often common place where ‘birth right’ seems to have right of place over other important factors like ‘aptitude, skills, experience and desire’.

If the grooming of a family member to take over hasn’t been undertaken effectively, then it is highly recommended that specialist advice external to key stake holders be sought to ensure relationships and expectations are managed correctly.

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Values Based Mentoring

I embark on a values based and principle centered approach when it comes to working one on one with my clients. All successful mentors understand the need to fully explore what is truly important to a client before offering advice or solutions. My unique approach ensures I fully understand my clients values, goals, motivations and fears before entering into a 1 x 1 coaching program.

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When is the best time to get a coach?

A lot of people think that your business needs to be struggling either financially or operationally before a business coach becomes a viable option. The reality is, as soon as a business out grows the capacity of its owners or when it is experiencing strong & fast growth an experienced Business Coach can help you see the forest for the trees making sure that growth does not get out of hand.

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Times are Tough!

When economic conditions are favourable, everybody prospers even the people who probably shouldn’t. When business conditions get tight it is really easy to get sucked into people’s negative thoughts, my advice, focus on the things you can control not the things you can’t, do everything better tomorrow than you did today and make sure that what you do today is better than what your opposition does tomorrow!

Anybody can succeed in the good times, only the disciplined succeed all the time!

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