Tag Archives | business advice

Is your business affected by Covid lockdowns?

If your business is suffering due to Covid lockdowns in your region, it’s easy to lose hope. Here are some practical ways you can use this time to your advantage, and prepare to come back strong when restrictions ease.

the way out of Covid Lockdown for business

Covid lockdowns are affecting many types of businesses in different ways. Most visible are the retail and hospitality venues we are all desperately missing.

Businesses that serve these industries are also experiencing a downturn. 

Wholesalers, some trades, and professional services businesses are suffering flow-on effects that while not as visible, are certainly damaging to industry, business owners, and employees.

It’s easy and natural to feel like the effects of Covid lockdowns are out of our control. At times like these, it’s important to focus on what we can influence. As well as knowing what Government supports are available to you, and directing your employees to assistance provided for them (link relevant to NSW), here are some ways to keep focused while riding out this time.

Keep in touch with your customers

Whether your business is currently closed, or providing alternative services, it’s important to keep top of mind with your customers and show genuine care for their experience.  Customer research shows that the main reason customers change providers is that they don’t feel cared for.

Showing genuine interest in connecting with your customers, even when they are not in a position to buy from you, builds trust in your relationship.

keep in touch with customers

Here are some examples:

  • A closed retail clothing business could provide online e-newsletters or messaging about upcoming trends, and ramp up social media to build their ‘tribe’
  • A service business could call their clients to check how they are faring, professionally and personally
  • A golf club could offer members an online group Zoom chat with their Golf Pro
  • An entertainment venue could facilitate live-streaming acts doing an acoustic performance (a win-win for the venue and the performer).

Adjust your services to what your customers need

When you speak with your customers, ask questions to understand their challenges during this time. They may be struggling financially; under-resourced as staff take time off due to Covid exposure and testing; or perhaps they are busier than ever.

As we’ve seen with restaurants offering takeaway, and travel services offering flexible holiday options, businesses are creatively adjusting their services to meet their customers’ needs. Here are some suggestions:

  • If financially viable, an online clothing store could offer free returns (many people are finding their regular size no longer fits!)
  • Service businesses might offer payment plans, or reduced services to those who can’t currently manage payments
  • A tourism company could offer online webinars about different destinations, to keep travel top of mind for when borders and countries reopen to travellers.

Choose how to use the Covid lockdown to your advantage

The above suggestions all take an investment of time and energy. It’s important that you realistically assess how this lockdown period can meet your own needs.

And you may take the opportunity to meet with your advisors to reset your business strategy.

Stay well

Most importantly, understand that your business needs YOU. When Covid lockdowns end, your business won’t run effectively unless you are mentally, physically and emotionally ready to embrace 2022.

Outdoor exercise, healthy eating, keeping up contact with friends and loved ones, keeping expectations of yourself realistic, and gratitude for what you do have, will all contribute to your wellbeing.

Prioritising your own needs as a business owner is the most important and effective strategy to ensure your business comes out of Covid lockdowns as best it can.

We wish you well and hope whatever your experience, you are managing this latest hurdle as best you can.

 

 

Should you plan for 2021?

After the year we’ve all had, we are certain of one thing: you want to create a plan for 2021 to be A LOT better than 2020!

But just as the week before Christmas showed us, the best laid plans can be sent into disarray by circumstances out of our control.

As disappointing as it may be to have to change plans last-minute, or to not achieve goals due to the unexpected, it’s still important to design your business, career or life the way you want it.

We call it having a life by design, not by default.

(And even if your plan for 2021 is thrown into chaos, we’re now all experienced in delaying plans and going with the flow!)

So whether you are a business owner, manager, or employee – or you are just thinking about your personal life – there is a quick and easy way to start on your goals.

Your wish-list for 2021 might include work-life balance, a profitable business, a happy and productive team, and achievement of some personal goals around fitness or lifestyle.

So how do you ensure you get what you want in 2021, and what happens is by design and not default?

Follow the four simple steps below…

1. Review 2020’s Highlights

Before making future plans it’s important to review where you are now and how far you’ve come.

Start by thinking back to January 2020. How different was life and business then? Despite 2020’s challenges, what did you accomplish over the year? How did your business grow and change? What happened in your career? What personal goals did you achieve?

Write down your achievements in all areas of your life and work – business growth and mastery, career, learning, family, fun, health and wellbeing.

Take a moment to appreciate how your life has changed and what you’ve done to create that. Congratulate yourself on your achievements so far.

And if all you feel you have achieved is survival, congratulate yourself on that too! You will have learned a great deal about dealing with disappointment, overcoming obstacles, dealing with change, and resilience.

2. Picture Your Future In Review

Now imagine yourself this time a year from now, at the end of 2021, doing the same exercise. If you were looking back on 2021, what would your achievements be?

Assume that the year will largely go to plan. Take at least 10 minutes to really think this through. List all you’ve gained in terms of business turnover and profit, the types of clients you’ve attracted, career moves, office relocation or upgrades, success you’ve helped your clients to achieve, fitness or family wins, personal achievements, what you’ve learned… any result you’d like to see by the end of the year.

3. Create Your Plan for 2021

Bring your mind back to the present day. The list you’ve just made is now your goal list for 2021. Make sure each goal passes the test of being measurable, realistic, and time-framed. Get specific. Instead of grow business you might write increase turnover by 20% and profit by 10% by 31 December 2021.

Put a date next to each goal. If you can’t be specific, narrow it down to be something you’ll accomplish by end of Q1, Q2, Q3 or Q4.

And make sure what you want to achieve is within your sphere of influence or control (other than the unexpected like a global pandemic). There’s no point stating what you want someone else to do, if you have no power over their actions. So instead of Get supervisors to perform to standard you could write Learn skills to more effectively manage supervisors and enforce their KPIs by 31 March. You can choose to be a better manager and hold them accountable, but their response and actions will ultimately be up to them.

4. Get A Coach To Help You And Your Team

If you’re a business owner, as our clients appreciate, setting goals and having a business plan is just the start. Finding someone to support you, guide you, and keep you accountable will ensure your success.

A great business coach will work with the business owners, managers and team to ensure the business reaches its goals. A great business coach will also support you to achieve your personal and lifestyle goals.

The Yellow Coaching team at our office in Morpeth

Are you a business owner? Do you need to plan for 2021?  Book your complimentary discussion with our business coaches today.

If you’re a business manager or employee, suggest Yellow Coaching’s services to the decision makers in your business. We’ll arrange a complimentary meeting with them to discuss the needs of the business and team.

How Business Coaching Will Help

Business improvement helps owners, employees, their families, and the community. When shown what’s possible and given the right tools, strategies and support, businesses and the people in them can achieve their full potential.

Yellow’s coaches work with the owners, managers and teams of established businesses of any size within the private sector; and with executives, managers and team members at all levels within Government and not-for-profit organisations.

Whomever they are working with, their goal is to assist business leaders to maximise the potential of themselves, their team, and their business.

Yellow’s coaches achieve this through:

  • business coaching
  • executive mentoring
  • leadership and management training
  • strategic planning
  • conference and workshop facilitation
  • keynote speaking, and
  • team member coaching.

They also provide team training on numerous topics including effective sales techniques, business marketing, outstanding customer service, time and priority management, improving team culture and morale, efficient systems and processes, resilience, and change management.

Get in touch with us to find out more.

 

 

How to increase business profit without marketing

Business owners often tell us they want to increase business profit. To get more profit, they want help with marketing to get more leads.

Our answer is always yes, we can help you with that, but not yet.

Think of your business as a bucket. The water you pour in is leads generated from marketing, and the leaking water is your profit.

Even with one small hole, no matter how much water you pour in, some water would leak out.

All businesses have holes that leak profit, that must be plugged before new leads are poured in.

Let’s see what this means for a manufacturing business.

How much profit is your business leaking?

An engineering business we worked with appeared from the outside to be doing well. They were generating over $100k per month in sales. But their annual profit was less than $50,000.

They came to see us to work on their marketing game. We quickly identified that they didn’t want to do more marketing, they simply wanted to increase their business profit.

At our first session we discussed all the small problems in their business. They told us:

  • Our apprentices and tradesmen often make mistakes which leads to rework
  • Our quoting is sometimes wrong
  • Customers use us once, but we never see them again
  • We haven’t had a price rise in over 4 years
  • We have a lot of levies to pay which the customers don’t know about
  • The guys are taking too long on jobs, and aren’t recording their time on job sheets
  • Our supervisor is too busy doing paperwork to supervise the guys on the floor.

When we looked just at the mistakes the tradesmen had made in the previous 6 months, we identified over $80,000 worth of lost profit that could have been in their bank account.

Together we created an action plan to ensure that all the holes in their business bucket were plugged.

This started with reporting on business activity so we knew where the profit was leaking.

Next we worked on strategies to fill the holes.

Then yes, we worked on marketing their business, knowing that the work they did for those new customers would generate profit that would make all their hard work worthwhile.

When you work with Yellow Coaching and implement the strategies we devise, business coaching gives you a huge return on investment – not only saving you money, but making you money.

Get in touch to see if you’re eligible for a complimentary 90-minute discussion about how to increase your business profit.

Business advice: How to get better business results

Getting sound business advice can be challenging. You might be wondering, Who can I trust? How will I find the time? How much will it cost? But finding a trusted business advisor can help you achieve results faster than doing it on your own.

Business improvement can be related to Albert Einstein’s famous quote: “Insanity is doing the same thing over and over again and expecting a different result.”

Your current knowledge, goals, skills, experience and actions have created the business you have today. If you are dissatisfied with any aspect of your business, you need to do things differently to get a better outcome.

business success

Marshall Goldsmith wrote an invaluable book, the title of which says it perfectly: What Got You Here Wont Get You There. Setting a new direction is key to taking your business to a better place.

Trial and error is one way to improve – and making mistakes certainly can be your best teacher (provided you actually learn from those mistakes, and don’t make the same ones time and time again!).

But a far more effective and faster approach is use solid business advice to learn from the mistakes and success of others.

Fast track to business success

You could find a business leader who has achieved success in the area of business in which you want to excel. By asking about their experiences and modelling their actions you could achieve similar results.

You could also find a professional business mentor, advisor or coach whose sole purpose is to help business leaders succeed. Through their experience working with businesses over many years, they can let you know what works for businesses like yours, and fast-track your business success.

Engaging a professional for business advice will help you to:

1. Improve your knowledge

Business coaches, advisors and educators package up the knowledge of countless authors, speakers, academics and business leaders to help their clients achieve greater success. Through their research, training and experience they teach proven methodologies that have worked successfully for other business leaders. They also know the pitfalls and can steer you clear of obstacles.

2. Get clear on your direction

Every business leader needs clear goals and direction. A good business coach will help you establish, reconnect with, or expand yours, and keep you on track. You could think of them as your GPS … when you wander off track, they will steer you back to where you need to be.

3. See from an outsider’s perspective

When you’re busy working day to day inside your business, it’s hard to take a broader, objective view. Your business coach can help you see the bigger picture. They can provide this viewpoint with honesty; not telling you what you want to hear, but what you need to hear to get better results.

4. Be accountable

Knowledge without application is worthless, and part of your coach’s role is to push you to get things done – in the right way, at the right time, and for the right outcomes. They’ll also remind you why you set your goals in the first place, and the benefits of getting the work done.

5. Keep going…

There’s no doubt that business can be tough, which is also why it’s so rewarding. When things are challenging, your coach can reconnect you with your ‘why’ and remind you of your greater vision and purpose (while giving you the tools to continue on when things seem difficult).

While there’s no short-cut to success, partnering with a business coach can help you achieve business results more quickly and effectively.

Business Success

We work with established businesses, helping them go from good to great.

We do this by working with business owners, leaders and their teams to achieve success in areas including strategy, marketing, sales, customer service, team culture, systems, profit, and cashflow.

We know that business success takes courage and action.

Business advice from Yellow Coaching

If you’re ready to achieve the next level of success, contact us to have a chat about your business. We work with business owners and their teams throughout Australia to help them achieve all they want through their business.

Our business advice and coaching will help you increase profitability and create a happier and more productive team – so you can work less and enjoy life more.

We look forward to hearing from you.

Is my business doing as well as everyone else’s?

Do you ever feel like your business challenges are worse than what other businesses go through?

Do you often think other businesses are doing better than yours?

Do you wonder what you’re doing wrong to have so many problems in your business?

business challenges

As a business owner, it’s common to compare your business to others and wonder how well they are really doing.

Without knowing what other businesses go through, you may think you are the only one struggling with team issues, tight cashflow, poor profit, customer complaints, or a lack of leads.

To protect their image, business owners often keep their true situation private. Not wanting their competition or clients to know they have challenges, they’ll say “we’re flat out!” and keep up the facade that business is always great.

You may fall for the psychological trap of ‘comparing and despairing’. Just like on social media, where it’s easy to contrast your own behind-the-scenes with others’ highlight reels, you can start to believe that everyone else’s business is doing better than yours.

business challenges

As business coaches, we are in the privileged position of seeing the truth behind the outward image. Even though we don’t work with broken businesses, but rather those that want to go from good to great – we know that no matter how successful a business appears, one thing is constant – challenges. Just like waves on the ocean that keep coming, problems are a part of every business.

Particularly this year, so many businesses are doing it tough. They are relying on the lifeline of JobKeeper, and wondering what to do when it ends in September. Many have staff on reduced hours, or have had to let staff go. The constant threat of business restrictions due to Covid-19 has many on edge. But from the outside things may appear ‘business as usual’.

So if challenges are inevitable, what’s the secret to overcoming them?

To succeed in business, you must focus on what you can control.

In Stephen Covey’s book The 7 Habits of Highly Successful People, he outlines the concept of circles of influence and control.

Imagine a target with three rings. On the outside is the largest circle, which is full of things we have no control over. In business this may be the weather, the economy, and certain recent pandemics…

The next slightly smaller circle is what we can influence but not control. This contains the actions of our prospects and clients (whom we can influence by our marketing and customer service), and our preparedness for the unexpected (for instance, having procedures in place to ensure the health and safety of our team and customers).

The smallest circle contains the very few things we can control in business – including our thought processes (what we focus on) and our behaviour (decisions and actions).

How other businesses are faring is out of your control. What you must focus on is what you can do to ensure you overcome your challenges quickly and effectively.

To get ahead you need to tackle challenges early while they are still small, by growing your own ability to overcome them.

It’s not the business without challenges that comes out in front, but the business which overcomes its challenges the fastest.

When faced with challenges in life and in business, you have three options.

  1. Turn around and run in the other direction

It may sound comical, but this is a common response to challenges. Some think that if they flee in the other direction, they can outrun any problem. Ever known someone to change their situation but end up facing similar problems down the track? Even when you run, some problems follow you wherever you go. As you haven’t learned to deal with them, you’ll be in the same position next time they appear.

  1. Stand still, ignore them, and hope they go away

Just like running away, this choice does nothing to defeat your challenges or grow your own ability to deal with them. In fact, ignoring your problems often makes them grow larger. It’s almost as though they increase in size to demand your attention!

  1. Face them and tackle them head on

Addressing problems immediately is the choice made by the most successful business leaders we know. When you choose to confront your challenges, you are forced to grow to overcome them. When you do this, instead of your problems growing, YOU grow. Next time you face a similar situation you’ll overcome it easily, and be ready to jump the next hurdle that appears.

Business is a journey of constant and never-ending improvement, and problems are often the push we need to grow and take our business to the next level.

If you’re ready to overcome the challenges in your business, contact us for a chat.

We look forward to hearing from you.

Business growth after Covid-19

If your business has survived the disruption of the last few weeks, you are probably wondering ‘what next’? Here’s how to achieve business growth after Covid-19, ensuring you have a solid foundation for success…

Business Growth After Covid-19

Sentiment seems to be that in Australia at least, the worst impact of Covid-19 on businesses is over.

Covid-19’s effects on businesses have been diverse. Some unfortunately have closed, while others have barely kept alive. Many businesses have scaled back resources, and others have altered products and services to suit the new market. Some are starting a cautious re-entry into the marketplace as Government restrictions are eased. And a few in certain industries have even found business is booming. 

Despite what Covid-19 has meant for your business, it’s no doubt led you to make changes to how your business operates. 

Now (what we hope are) the worst effects on businesses of Covid-19 are over, you are no doubt wondering what the next steps are for your business.

Despite the disruption that an outside force like Covid-19 brings, business challenges can lead to opportunity and growth if dealt with in the right way. 

If your business has seen a downturn but is still operating, here are our top 4 tips to make the most of what’s occurred, and prepare your business for a different and brighter future.

1. Reflect

Remember back to a time not so long ago, before Covid-19.

What was working well in your business?

You may recall that your business was exactly where you wanted it to be. Perhaps you had a solid team of committed employees, and your profit was growing steadily month on month.

For everything that was going great, write down how you can continue that now and into the future.

If your team has been supportive, for instance, you may choose to simply show gratitude by saying ‘thank you’ for now, and plan a team reward for when business improves.

When times are tough it’s easy to romanticise the past and only remember the good, but now is the time to also remember what you weren’t happy with. What wasn’t going as well as you would have liked?

Perhaps you were working with a client who cost you more in time and energy than they were worth, or your team members were unproductive or not aligned with your culture. 

Some challenges may have already been resolved. Perhaps you recently had to make the tough decision to make redundant an employee that wasn’t performing well anyway, or a difficult client has stopped working with you due their own Covid-19 related challenges.

For anything that hasn’t been addressed, write down now anything that comes to mind about what you could do to improve it.

You could offer technical training for team members who didn’t possess adequate knowledge. If your business wasn’t operating efficiently, you could assist staff with time and priority management. If profit wasn’t great, you could commit to better financial reporting as the first step to improve your bottom line.

You’ve now created a list of possible actions to take into your new business future to help you achieve the business you want.

2. Reassess

If your business has seen a decline in sales, you’ve no doubt had to make some changes. You’ve probably pared back on your overheads by reducing staff numbers and hours; negotiating better rates with suppliers; cancelling unnecessary subscriptions; and suspending excess ordering of stock. 

Looking at your previous fixed costs, you might have realised they were higher than necessary. Assess what is truly required as a new baseline of operating expenses for your business. Set this lower amount into your budget figures for the next few months. 

3. Reset

You now have a new foundation from which to work. It’s time to reset your goals and re-write a simple, short-term business plan. Even if it’s a one-pager, put down on paper how you want your business to be in future.

Start thinking three months ahead at most, to allow for the current changeable business environment. Remember you may need to alter your goals regularly to suit the situation, so keep a flexible attitude. 

In your goals, consider such items as revenue targets, number of customers or clients, products and services, and staffing. 

4. Reinvent

Now you know what you want your business to look like, it’s time to make it happen. Write out who needs to do what, by when, to achieve your new business goals. Make sure you include actions from the list created in Step 1.

In this new business environment you may also need to change your marketing message. 

Whilst previously you may have been able to confidently assume the sale, your message may now need to convey that you understand that your prospects’ world – including their priorities and financial position – has changed. 

This is an important time to communicate your value proposition and explain how and why your product or service is more valuable than ever (this is particularly true if what you offer is considered discretionary spending, as your prospects may have less wiggle-room in their budgets). 

As evidenced in the ‘lipstick economy’ seen during the GFC and other times of crisis in recent history, people will still want to treat themselves to small luxuries. Communicating why your offering is either a necessity, or a necessary indulgence, will help you regain some traction and business growth after Covid-19.

Businesses in Australia are starting business coaching right now to ensure they have a solid foundation from which to achieve business growth after Covid-19. Get in touch with us to discuss how to grow your business in this new environment.

Business Networking Tips

(for people who don’t love business networking)

Does the thought of business networking and meeting new people make you nervous rather than excited? Do you deliberately arrive at business events late, leave early, and struggle to find people to talk to and things to say while you’re there? Is building relationships with others important to your business and professional growth?

There’s no doubt that making new contacts is essential in business. While some people are outgoing and can confidently generate interesting discussion with strangers, others are more at ease either alone or with people they know well. For more reserved people, networking can feel anything from uncomfortable to terrifying.

While business networking events can attract extroverts, there are usually some attendees who find it hard to strike up conversations and enjoy the experience.

Whatever you feel about networking, here are ways to make it easier and more effective for all involved.

Start with the right expectations of what business networking is

To be successful, every business networking function doesn’t need to result in new leads for your business. You don’t need to ensure you tell a certain number of people about what you do, nor hand out and collect a batch of business cards.

Relationships are built over time, and it can take many interactions with people to build rapport and trust.

When you attend an event, a smart goal is to meet some new people, find out more about people you’ve already met, and add value to others where you can. You might start by simply aiming to stay to the end!

Go with the right objectives

It’s easy to spot someone who is only interested in talking about themselves, selling their product or service, and handing out their details to as many people as they can. If you’ve been a victim of a sales pitch at a function, I’m sure it didn’t leave a good impression.

Go to networking events with an intent to:

• Meet and learn about other people
• Show interest in others and what they do
• Question rather than tell
• Connect other people to each other
• Share useful information to help others

Be yourself

To be a good networker you don’t have to be the most outgoing, confident, and talkative person in the room. Be authentic. It’s okay to start a conversation with “I’m not a natural networker and I find it hard to meet new people at functions. Do you know many people here?”

If you see someone you’ve met previously, go out of your way to say hello and build on the relationship. If you recognise their face but not their name (or at which event you met them) you could say “I’m sorry, I know we’ve met but I’ll admit I can’t remember where” or “I really enjoyed speaking with you last time, but I’m sorry I’ve forgotten your name.” Then use their name several times in the conversation to ensure it sticks.

Include others

Even if you know many people at the event, gravitate towards people standing on their own. Chances are they are feeling uncomfortable and will welcome your approach.

Some conversation starters:

• Do you know many people here?
• How often do you attend these events?
• Have you made any great connections at these events?
• Is the food always this great here?

Make it interesting

The standard questions of “what do you do?” and “where do you work?” can be predictable. Even if you start with this approach, it’s good to follow up with questions to get to know the person rather than just their role.

You could try, “have you always lived in this area?” or “what do you like to do in your down-time?” Conversations start to flow when people open up about things they are passionate about.

Ensure your own introductions are interesting and can open up further discussion. Instead of just, “Hi, I’m Sam, a building designer at ABC Building Designs” you could add, “I love helping developers get the most value from their investment by maximising what they can build on their land.”

Connect others

Malcolm Gladwell in The Tipping Point talks about natural networkers being either Connectors or Information Mavens. Connectors love to introduce people to each other, and always have a good recommendation for a plumber, architect, solicitor, or hair salon. They know a lot of people and enjoy helping others connect.

Information Mavens like to share useful information. They are well researched on many topics and love to provide information to others to help them out.

If you know a Connector or Information Maven seek them out at business networking events. If they don’t already attend, invite them to come along with you. They’ll ensure you meet new people and learn something new. Observe how they interact with others and see if you can model their approach next time.

Follow Up

After each event, make notes of who you met, where they work, and what they do. Record other details you learned such as how many kids they have, that they love mountain bike riding, or that they were about to holiday in Fiji. Read your notes just before the next event so you have some good conversation starters when you see them.

Whether or not you obtained their details, invite people you met to connect on LinkedIn to maintain contact. Send an “it was lovely to meet you” message. They may or may not reply, but they’ll appreciate the effort.

Yellow Coaching helps business owners and their teams to network effectively as part of their ongoing coaching program. Get in touch here to find out how we can help you with business networking skills.

A shorter version of this article was first published in Hunter Headline on 23 October 2018.

Business success: the one simple secret

Business success is determined by one key concept. When you understand and use it, you will be able to face and overcome challenges and continually improve, in both your business and personal life. This simple concept is called above and below the line.

business success, life success, above the line

 

Picture an imaginary horizontal line. Above the line is a way of living in which you take ownership, accountability and responsibility for everything in your life. In business this may be the amount of money in your bank account, the type of clients you are working with, or the quality of your relationships. Up here you’ll find solutions and results. You’ll have the mentality of a successful victor over your circumstances.

Living below the line is using blame, excuses and denial to avoid responsibility for improving your life. Here you play the victim, come up with reasons you don’t have what you want, and focus on problems.

Playing above the line is a decision

It’s human nature to go below the line daily. Science shows that we have a negativity bias – an inbuilt protection mechanism to look for threats and weaknesses over opportunities, to ensure our survival. The challenge arises when we live below the line on a regular or permanent basis.

There are many things we can’t control in life. To live above the line, we must focus only on what we can control and influence. We can’t control Australia’s economy, but we can choose our financial decisions on a daily basis. We can’t determine which political party will get into office, but we can have our say by voting and contributing positively to politicial discussion.

No matter what life throws at us, we can always choose our thoughts, attitudes and behaviour. It’s important that we don’t ignore problems and challenges, as they don’t usually go away on their own. Dealing with them when they first appear is key.

It’s also vital to deal with stress by venting when needed. If we find it hard to be above the line in our office, we give each other a 3-minute time limit.  We have fun and blame everyone, make every possible excuse, and deny any responsibility for our situation!  Then we ask, “now what’s the outcome we want, and what are we going to do to get it?”.

 

 

(Thanks to Justin Maybury, team member of a great business we work with, for creating this image of his progress one day trying to stay above the line. We call it “One foot over!”)

How do you live above the line to ensure business success?

When things are not how you want them to be, focus on the solution, not the problem.

Instead of complaining that there’s not enough money to pay the BAS, ask “how do I find the money to pay what’s due, then ensure there is enough in time for each future instalment?”

Rather than blaming the economy or your competitors for a lack of leads, ask “who are the clients I want, and where can I find them? What can I offer that’s valuable to them?”

Replace “why is this employee continually needing supervision?” with “how can I be a better manager?”

Success guru Tony Robbins says the quality of your life is determined by the quality of the questions you ask. When you make a mistake, don’t ask “why does this always happen to me?” but “how can I ensure I get the result I want next time?”

We all have challenges in life. Leadership and personal development expert Brian Tracy describes business as: Problem – problem – problem – problem – CRISIS! Imagine business challenges as waves on the ocean (which means every seventh one is likely to be a dumper…). You can choose to get out of the water, or learn to surf.

The secret to life and business success is to focus on solutions rather than problems.

Are you living above the line?

If you’d like to achieve greater success in your business, whether it be more money, a stronger team, or greater freedom – contact Yellow Coaching to see if you’re eligible for a complimentary 90 minute consultation on your business. We work with businesses and organisations throughout Australia. We look forward to hearing from you.

Time Management: Get More Done in Less Time

Is time management important in your role?

Are you too busy in your work and personal life?

Do you put out fires all day and never get to your to-do list? 

Are you bombarded by emails, phone calls and interruptions that stop you focusing on what’s most important? 

If you answered yes, you’re not alone. Business owners, executives, managers, supervisors and staff are all feeling the pressure, not only at work but in their personal lives. While everyone is busy, they are wondering why that doesn’t translate into achieving the things that are most important to them. Health, business growth, and relationships are suffering. The following time management tips will help you get back on track.

Time Management Tips

To help them get structure into their work and personal lives, we teach our clients and their staff a time management concept devised by the 34th President of the United States. It’s called The Eisenhower Matrix. Here’s our interpretation:

time management

When you learn to recognise which of your tasks fit into each category, you can spend the appropriate amount of time on each.

Do Now: Urgent and important tasks

These tasks are the key parts of your day-to-day role. They are the main tasks listed in your job description, and what makes the business ‘tick’. This is the technical part of your job, such as a barista making coffee for customers, or a welder welding machinery parts. This is the zone of demand, as these tasks are responding to the needs of your customers and providing the product or service of your business.

Delegate: Urgent but not important tasks

Urgent but not important tasks are those you feel you have to do right away, but which are actually not important to the growth and mastery of your business. If you often find yourself overwhelmed as you switch from taking phone calls, responding to emails, handling interruptions from staff and meeting with unexpected visitors to your office, you’ll know what we mean! We call this the zone of delusion.

If you have people working for you, delegate some tasks to them. A team member could screen your calls and make appointments for you (rather than allowing drop-ins). You could also delegate tasks to a system or device – allow your calls to go to voicemail; turn off email notifications and check emails only twice a day; have interruption-free blocks of time in your diary; and use an automated CRM to facilitate some regular communication.

Delete: Not important and not urgent tasks

Not important and not urgent tasks are diversions to avoid at all costs. We call this the zone of distraction. Examples include talking at length to colleagues about non-work-related matters; taking long breaks, or internet shopping and Facebook use during work hours. Implement a social media/phone/internet use policy for staff, as hours can be wasted in this quadrant if left unchecked! If you find yourself procrastinating and slowing down at a certain time each day (eg. the 3pm slump), schedule 10 minutes to get out in the sunshine, take a quick walk, or do whatever will help you get back in the zone.

Decide when to do: Not urgent but important tasks

Important but not urgent tasks are those which help you and the business grow and develop. To build a high-performing business you must identify and prioritise these. Schedule these tasks or they will be postponed to accommodate more urgent things, leading to mistakes and delays.

When the barista orders stock and services the coffee machine, or the welder ensures his tools are cleaned and maintained regularly, they are in this zone. For business leaders, communicating with the team and clients, and making time for business development are not urgent but important tasks. In your personal life it may be taking time to nurture your personal relationships, or making time for exercise. We call this preparing rather than repairing as time spent here up front will save time down the track. This quadrant is simply called The Zone. Schedule time in your calendar to ensure these important tasks are done on a regular basis.

Priority management is just one of the ways Yellow Coaching helps business leaders and their teams achieve success. To find out more about the help you and your team need, get in touch with us here.

“What is important is seldom urgent and what is urgent is seldom important” – Dwight D. Eisenhower

The 3 Pillars of Business Growth

No matter how well your business did last year (and we hope it was a brilliant year for you), there are 3 fundamental things you need for continued business growth and mastery.

The new year is the perfect time to reassess where you are now, and where you want to be when Christmas rolls around again – and trust us, this will seem sooner rather than later!

Over the last 15 years we’ve helped business owners and teams achieve everything they want. We focus on the 3 things that are essential for continual business growth and mastery. We call these the three pillars of business success. Here’s more about them, and how to get them to support you and your business in 2018…

business growth, business success, business advice, business mastery,

1  Mindset

If there’s one thing we’re sure of, it’s that successful people have positive mindsets. They look for solutions rather than problems, and focus on the end goal rather than obstacles. Knowing that challenges will continually appear, they face them directly and quickly to ensure they get back on track with minimal detour.

As Brian Tracy says in his talk The Secrets of Self-Made Millionaires (get it here on audible.com), problems in business are like waves on the ocean that come in sets, with one towering above the others: “Problem, problem, problem, problem, CRISIS!” Successful people understand that as they learn to deal with challenges they grow as business leaders.

Successful business leaders learn the skill of goal-setting. They challenge themselves constantly by pushing outside their comfort zones. Familiar with perturbation – that uncomfortable feeling of tension when you’re moving past your previous limits – they have learned to think big and dream bigger.

They acknowledge that they can’t do it all on their own. Their support team includes a proactive accountant, responsive business banker, trusted legal advisor, and qualified and experienced business coach to help them reach their goals.

 

Business growth, business goals, business success

2  Knowledge and Education

Successful business leaders know what they don’t know. They commit to continually improving their knowledge, and rely on experts to assist them to achieve business growth. Instead of stretching themselves too thin by trying to be the best at everything, they work with their skills and talents. They focus on their core strengths, while learning what it takes to achieve business growth and mastery.

Clear on the difference between being the technician and the business owner (as defined in Micheal Gerber’s classic business book The E-Myth Revisited), they are free enough from daily business operations to work on business growth. Rather than learning from their own mistakes, they use a business advisor or mentor to fast-track their success. They learn and grow from the mistakes and success of others.

3  Accountability

Taking responsibility and being accountable for your own business success is critical for business growth. When you accept that your past, current situation and future are all a result of your own actions, your can truly make improvements. Yes, the unexpected will happen. Challenges will occur (refer to point number one above). But with resilience, grit, and taking charge of your own destiny, you will hold the keys to everything you want.

Masters of business growth rely on a business coach to keep them accountable to their goals. Just like a sports coach, a business coach will push you to work harder than you would on your own, and ensure you’re operating in top form to reach your desired results.

 

Business Growth, Business goals, business success, business mastery

The Next Steps For Your Business Growth

Have you achieved a certain level of business success but are ready for more?

Are you not only interested, but committed to business growth and mastery?

Are you are ready to take the action needed to get the results you want from your business?

Yellow Coaching will help.

Discover if you’re eligible for a free 90 minute consultation to discuss the future of your business.

We look forward to hearing from you.