Have Full Control Of Your Business For Success

 YOU-MUST-HAVE-FULL-CONTROL-2-600x319 Have Full Control Of Your Business For Success

YOU MUST HAVE FULL CONTROL OF YOUR BUSINESS FOR SUCCESS.

Business Success Comes From Control Of Each Part Of Your Business.

But Do You Only Focus On The Parts That Interest You Most?

 

You must have full CONTROL of your business for success.

The very best in business and the most successful in business always have TOTAL and FULL CONTROL over every part and every aspect of their business.

And, that CONTROL allows them to be VERY SUCCESSFUL.

Only 10% of businesses are successful and make it into what I call the ‘10% CLUB’  –  if YOU are to make it into the ‘10% CLUB’ – you need to replicate the ways that they achieve success.

FULL CONTROL OF YOUR BUSINESS FOR SUCCESS is one aspect to look at.

 

RELATED POST: HOW TO BECOME A MEMBER OF THE ‘10% CLUB’

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Many Entrepreneurs Struggle With Control

But many entrepreneurs running small and medium sized businesses struggle to achieve TOTAL and ABSOLUTE CONTROL.

Many entrepreneurs start because they have a PASSION for a particular product and, this is where their FOCUS lies.

 

Entrepreneurs Have Full Focus On The Parts That Interest Them Most

They develop great PRODUCTS but often their FULL FOCUS stops there.

They seem to forget that a business comprises MANY PARTS and the PRODUCTS are just ONE of those PARTS.  They forget that the other PARTS must RUN very efficiently to support the SALE of those PRODUCTS.

 

They Have Less Focus On Other Parts

They have LESS FOCUS on these other PARTS, often, because they don’t find these PARTS so interesting or these parts of their business take them outside their COMFORT ZONES.

For business success. you cannot ‘cherry-pick’ what you do and don’t do.

 

Often The Back Office Receives Less Focus

One BIG PART that often receives LESS FOCUS is the BACK OFFICE and the necessary PAPERWORK that is associated with it.

This is something that many people seem to struggle with –  they simply don’t enjoy it and they would rather put their efforts into the PARTS that they enjoy.

 

Each Business Can Be Divided Into 7 Parts

Each small and medium sized business can be divided generally into the following SEVEN GENERAL PARTS:-

  1. CUSTOMERS
  2. PRODUCTS
  3. MONEY
  4. MARKETING, BRANDING & SELLING
  5. CUSTOMER SERVICE
  6. BUSINESS RUNNING & BACK OFFICE
  7. EMPLOYMENT

Every business has ALL of the above, unless YOU have NO EMPLOYEES.

 

Every Part Of Your Business Has Equal Importance

Every PART is as important as the other PARTS within the business.

If YOU are to OPTIMIZE your BUSINESS SUCCESS and your BUSINESS PROFIT every PART must be RUN to its BEST  –  If ONE PART is run LESS WELL, then this will affect the WHOLE BUSINESS.

 

You Must Put Full Focus Into Each Part

As a business owner, YOU must THINK that YOU must put equal FOCUS into each PART of your business and YOU must make sure that each PART is run as well as YOU can possibly RUN it.

 

Run Each Part Of Business Well For Full Control

When YOU achieve that, YOU will have FULL CONTROL of your business.

YOU must THINK that FULL CONTROL is needed for the SUCCESS of your business and YOU will only achieve FULL CONTROL by CONTROLLING EACH PART of your business, NOT just some of the parts.

BY CONTROLLING EACH PART, YOU ACHIEVE TOTAL CONTROL.

 

Think To Divide Your Business Into 7 Parts

The place to start with attaining FULL CONTROL is to THINK about the SEVEN PARTS of your business and analyze EACH PART and estimate how well each part is RUN.

YOU should be very critical of EACH PART and see where your STRENGTHS and WEAKNESSES are and YOU must correct the WEAKNESSES of each PART.

 

You Must Have All Seven Parts Running To Their Best

When YOU have ALL SEVEN PARTS RUNNING to their BEST, then YOU will have FULL CONTROL and, once this is in place, YOU must make sure that YOU retain this CONTROL.

 

Poor Control Can Lead To Failure

Poor CONTROL of your business can lead to FAILURE in the most severe of cases, so ACT now, before it becomes too serious and too late.

YOU-MUST-HAVE-FULL-CONTROL-2-600x319 Have Full Control Of Your Business For Success

 

Start Today, Have Full Control Of Your Business

Do it now, today – start to think about your 7 business parts and take back CONTROL OF YOUR BUSINESS.

 

Have Smart Business Thinking & Smart Business Actions In Your Business

HAVE SMART BUSINESS THINKING & SMART BUSINESS ACTIONS

If you wish to discuss this with me more fully, please email me at Robert@prestigebusinesscoaching.co.uk or leave a comment below.

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Do Your Products Provide The Right Customer Benefits?

HELP-WANTED-10-600x319 Do Your Products Provide The Right Customer Benefits?

Do Your Products Provide The Right Customer Benefits?

Do your products give your customers the real help that they want and need?

Do your products improve the lives of your customers?

Do your products match the needs and wants of your target customers?

Your CUSTOMERS will buy your PRODUCTS because they want the BENEFITS and HELP that these will provide;  if every entrepreneur provided the right customer benefits, sales and business profits would be boosted.

When I talk to business people, I am often conscious that they don’t THINK ENOUGH about the BENEFITS their PRODUCTS provide for their CUSTOMERS. I have talked about the top 10% businesses many times on this site and much of their SUCCESS is because they THINK ‘BENEFITS’ when they THINK about their PRODUCTS.

If YOU can do the same and THINK about the BENEFITS that your PRODUCTS will provide to your CUSTOMERS when YOU PLAN YOUR PRODUCTS, it should make YOU create or provide BETTER PRODUCTS that MATCH your CUSTOMER’S NEEDS BETTER. I have talked about MATCHING before, saying that YOU SHOULD MATCH YOUR PRODUCTS TO YOUR TARGET CUSTOMERS.

The better your products match the needs and wants of your customers, the greater your sales and profits will be.

 

Ask Yourself Several Big Questions

There are several BIG QUESTIONS that I have always asked myself in all my businesses and the first is:-

WHAT BENEFITS AND HELP DO MY PRODUCTS GIVE TO MY CUSTOMERS?

YOU should do the same and write down a list of BENEFITS.

Then ask yourself ONE OTHER BIG QUESTION:-

ARE THESE THE RIGHT BENEFITS THAT MY CUSTOMERS WANT AND NEED?

Answer this honestly and then ask yourself another BIG QUESTION:-

ARE THEIR BENEFITS THAT MY CUSTOMERS WANT AND NEED THAT MY PRODUCTS DON’T FULLY PROVIDE?

If there are significant BENEFITS that your CUSTOMERS WANT and NEED from your BUSINESS and your PRODUCTS that they don’t presently get from YOU, YOU should THINK to maybe CHANGE or MODIFY your PRODUCTS or introduce NEW PRODUCTS that will provide those BENEFITS.

 

This Is Why Smart Business Thinking Is So Important

This is why SMART BUSINESS THINKING and SMART BUSINESS ACTIONS are so important – they both force YOU to ANALYZE your PRODUCT OFFERINGS CRITICALLY.

BETTER PRODUCTS SHOULD THEN FOLLOW, which should, in time, INCREASE SALES.

 

You Should Also Ask Your Customers

YOU should also TALK to your CUSTOMERS and ASK them about your PRODUCTS. Businesses are VERY POOR at TALKING to their CUSTOMERS, especially the 90% who RUN MEDIOCRE BUSINESSES.

I have always TALKED to my CUSTOMERS and I have always learned so MUCH –  it has enabled me to always PROVIDE THE RIGHT BENEFITS to my CUSTOMERS and the process has always enabled me to achieve HIGH SALES with all my businesses.

HELP-WANTED-10-600x319 Do Your Products Provide The Right Customer Benefits?

 

Set Yourself the Objective To Provide The Best Benefits

YOU must SET yourself THE OBJECTIVE to PROVIDE the VERY BEST BENEFITS to your CUSTOMERS.

As part of that, ASK yourself and your CUSTOMERS about the PRODUCTS that YOU presently offer and ask them about the BENEFITS that your CUSTOMERS WANT and NEED from your BUSINESS and whether your products satisfy those wants and needs.

YOU should then formulate CHANGES to your PRODUCT RANGE and INTRODUCE these as part of your business plan-  your REVENUE SALES should then GROW SIGNIFICANTLY, as a result.

If YOU wish to discuss this more fully with me, then please email me at Robert@prestigebusinesscoaching.co.uk

Or please leave me a comment below.

HAVE SMART BUSINESS THINKING AND SMART BUSINESS COACHING

Robert-Viney-525x350 Do Your Products Provide The Right Customer Benefits?

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7 Strong Reasons Why You Should Build A Strong Brand

TRUST10 7 Strong Reasons Why You Should Build A Strong Brand

7 Strong Reasons Why You Should Build A Strong Brand

Is your business recognized as a BRAND?

Are your products recognized as a BRAND?

Is your BUSINESS NAME or the name of your PRODUCTS well known?

If the answer to any of these questions is no, then you are missing a trick to sell more of your products.

Businesses like Tesco, Marks & Spencer, Ford, Dyson and products like Mars Bar, Fairy Washing Up Liquid are STRONG brands, which means most people have heard of them.

These BRANDS, by and large, are famous for providing high quality and, as a result, they instil trust in their customers and in new customers to come and buy.

Which means being a BRAND is very powerful  –  being a BRAND with enhance the BUSINESS SUCCESS of any organization.

 

BRANDS CAN BE CREATED

Whether you are a start-up or an established business, it is possible to BUILD A STRONG BRAND and thus create a STRONG BRAND IMAGE for any business and for any product, including making both your business a STRONG BRAND NAME and your products a STRONG BRAND NAME, and a BIG OBJECTIVE, as part of your BUSINESS PLAN, must be for you to deliberately create a STRONG BRAND IMAGE for your business and your products.

Why should you BUILD A STRONG BRAND?

There are SEVEN advantages to creating a STRONG BRAND IMAGE and SEVEN REASONS why you should create a STRONG BRAND IMAGE.

  • Strong Brands create recognition
  • Strong Brands create trust
  • Strong Brands send out the message that your product is bought by others and gives benefits that others enjoy
  • Strong Brands can sell themselves
  • Strong Brands usually achieve greater sales
  • Strong Brands reduces marketing needs & costs
  • Strong Brands will allow you to charge more for your products

RECOGNITION IS IMPORTANT

Recognition is important – if your product is on a shelf in a shop, for instance, and it is next to a similar product that is less well known, then people are more likely to recognise your product and are more likely to buy your product as opposed to the other product.

When you build a strong brand you create recognition.

 

YOU NEED TRUST

People often will not buy a product unless they know something about that product and have trust that it is right for them and will bring them the benefits that they want. Trust is something that is built up over time, but by being a recognised brand that people recognise immediately, then they are more likely to trust that product and will buy it.

When you build a strong brand you create trust.

 

SEND OUT A STRONG MESSAGE ABOUT YOUR BENEFITS

Being a STRONG BRAND sends out a STRONG MESSAGE to your target customers that this product is bought by many other people and it brings benefits that these people want, need and enjoy. If a target customer thinks that a certain product brings benefits for other target customers, he or she might well think that it will bring benefits to them, as well.

When you build a strong brand you create the impression that many people trust it and buy it.

 

BRANDS SELL THEMSELVES

A STRONG BRAND will do much of its own SELLING and MARKETING respectively, which reduces your need to SELL and MARKET your product and thus this reduces the time, effort and money to SELL and MARKET, so reducing your marketing costs and enhancing your profits.

STRONG BRANDS will SELL themselves and STRONG BRANDS will MARKET themselves.

 

BRANDS USUALLY HAVE HIGHER SALES

STRONG BRANDS usually have GREATER SALES, so YOU must think that A STRONG BRAND IMAGE for your business and products will create STRONGER SALES and STRONGER PROFITS for your business.

When you build a strong brand you create the potential for higher sales.

 

YOU CAN CHARGE HIGHER PRICES

By being a recognised BRAND, that is trusted, YOU can command a higher price for your PRODUCTS, which in turn will drive up your PROFITS.

When you build a strong brand you create the ability to charge more for your products.

TRUST10-600x319 7 Strong Reasons Why You Should Build A Strong Brand

 

PROMISE YOURSELF THAT YOU WILL CREATE A BRAND

So, SEVEN very powerful reasons for you to create a STRONG BRAND out of your BUSINESS NAME and your BUSINESS PRODUCTS.

YOU must say to yourself now:

“My OBJECTIVE must be to BUILD A STRONG BRAND and to create a STRONG BRAND IMAGE for my business and for my products that people will instantly recognise and trust”.

Do it today – include it in your BUSINESS PLAN and include it in MARKETING.

 

HAVE SMART BUSINESS THINKING & SMART BUSINESS ACTIONS

If you would like further advice on this, please contact me: Robert@prestigebusinesscoaching.co.uk

Or leave a comment below to engage in the conversation.

Robert-Viney-525x350 7 Strong Reasons Why You Should Build A Strong Brand

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For Greater Business Success, Have Smart Business Thinking

Want Greater Business Success? Change Your Thinking

For-Greater-Business-Success-Have-Smart-Business-Thinking-600x319 Want Greater Business Success? Change Your Thinking

Want Greater Business Success?

You Must Change The Way You Think For Your Business Success

I am absolutely certain you WANT GREATER BUSINESS SUCCESS and it could be easier to achieve than you think.   It is possible to enhance your business success through the power of thinking and positive thinking.

Yes, by changing your thinking!

The 10% most successful entrepreneurs always devote at least 90 minutes of each day to have quality ‘THINKING TIME’  Here, they will think about growing their sales, profits, business success and generally driving their businesses forward.  Such positive thinking is imperative, if a business is not to stagnate or become mediocre.

It is very easy to get bogged down with the ‘day to day’ running of a business;  then it becomes very difficult to have time to think about how to grow and improve a business.

This is what the many in business experience.

When I visit such businesses, I constantly hear “I have not got time…”

These businesses would have time, if they were better organized, more efficient and better disciplined.  The top 10% of business entrepreneurs are supremely well organized and disciplined and this allows them to have quality ‘THINKING TIME’ and, because of this, their businesses are constantly being driven forward and many achieve massive business success.

 

The Thinking Of The Top 10% Entrepreneurs Is Very Different

But the THINKING for the top 10% of entrepreneurs is also DIFFERENT in several ways.

Fundamental to all their THINKING is the POWER OF THOUGHT;   this is the ENGINE that drives the THINKING PROCESS.

 

Thinking & Grow Rich

Napoleon Hill in his best selling 1939 book ‘THINK & GROW RICH’ says that “YOU BECOME WHAT YOU THINK ABOUT”  If YOU think something enough, YOU can become what YOU think.

Many of the most successful entrepreneurs have used this THINKING PROCESS, as outlined in Napoloeon Hill’s book, to become a business success and to become rich;  they decided they would become ‘RICH’ and through THINKING about being RICH, they have achieved it.

‘Think & Grow Rich’ by Napoleon Hill is still available in print and available from Amazon  and I thoroughly recommend you read it –  https://www.amazon.co.uk/Think-Grow-Rich-Napoleon-Hill/dp/1912032627/ref=sr_1_6?s=books&ie=UTF8&qid=1498462758&sr=1-6&keywords=think+and+grow+rich

This Is Called Programming The Mind

The process is called PROGRAMMING THE MIND and I described briefly how it works in my article Create A Strong Positive Attitude For Your Business Success’    If you have not read it, I strongly suggest you do.

Have-A-Strong-Positive-Business-Mind-600x319 Want Greater Business Success? Change Your Thinking

Once you have PROGRAMMED YOUR MIND to think that you will have GREATER BUSINESS SUCCESS and become RICHER, your THINKING will change and you will start to THINK DIFFERENTLY in the same way that the top 10% of business entrepreneurs THINK.

The Thinking Of The Top 10% Is Different In Two Ways

The THINKING of the top 10% is different in TWO WAYS:-

  • HOW THEY THINK
  • WHAT THEY THINK

In short, their THINKING is VERY CREATIVE, VERY ANALYTICAL and VERY INNOVATIVE and they THINK ‘OUTSIDE THE BOX’ –  they will dissect everything within their businesses and analyze everything in the greatest of detail.

Let me give you some examples of how their THINKING works.

Customers

The most successful in business THINK about their customers is very different way to the rest in business;   they THINK that without customers they have no business and no profits, so they design their whole business around the wants and needs of their customers.

They set out to know exactly who their target customers are and they study these target customers in great detail.  This knowledge and understanding allows them to understand exactly what benefits their customers want and need from their business and in particular the following:-

  • Products
  • Customer Service
  • Customer Experience
  • Prices
  • Customer communications

These entrepreneurs will even go further and try and understand the psychology of their customers and try to think as their customers do;  by doing this they can provide exactly the right products, the right customer service, the right customer experience at the right prices.

Part of the process is to continually review and measure the processes involved;  for instance, they will constantly monitor how happy their customers are with their products and their service and when things go wrong, the situation is rectified very quickly.

They also think about creating an army of loyal customers who keep returning to buy more and more, repeatedly and of turning their customers into advocates as a definite strategy.

This THINKING creates a heavy FOCUS on the TARGET CUSTOMER and ensures that everything that their customer receives from their business is exactly RIGHT and of the HIGHEST QUALITY.

If you WANT GREATER BUSINESS SUCCESS, you must think differently about your customers.

Marketing

The most successful in business also think differently about the MARKETING.

They set out to create and maintain a STRONG BRAND through their marketing and everything else that they do.  But also they make sure that through their understanding of their TARGET CUSTOMERS, they can target them very efficiently with the RIGHT MARKETING and effectively convey the right message.

Again, they constantly measure the effectiveness of their marketing to ensure it works right and is cost effective.

If you WANT GREATER BUSINESS SUCCESS, you must change your marketing.

Money

They are constantly thinking about their BUSINESS NUMBERS and they don’t leave it the accountant to tell them what their numbers are.

They KNOW and UNDERSTAND all their NUMBERS and they spend time analyzing everything.  When the numbers change, such as sales, margins or cash-flow they detect these changes immediately and take action, before problems set in.

If you WANT GREATER BUSINESS SUCCESS, you must get your business numbers right.

Total Control

The top 10% of successful entrepreneurs all know how important CONTROL if their businesses are.  They achieve this by having LASER FOCUS on EVERYTHING within their business.  This means a HIGHLY EFFICIENT and a HIGHLY EFFECTIVE BUSINESS with little waste.

You need absolute control for GREATER BUSINESS SUCCESS.

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Smart Business Thinking Starts With The Power Of Thought

These are just a few examples of how the THINKING of the most successful entrepreneurs works.

To make the change, you must first decide that you will find about 90 minutes each day to THINK about ALL PARTS of your business in a MORE CREATIVE, a MORE ANALYTICAL and a MORE INNOVATIVE WAY.

Once this has become a HABIT, you will start to feel MORE FOCUSED and YOU will start to see things with GREATER CLARITY and, most importantly, you will see ways that you can make improvements to your business.  A business plan for success results.

Then, your BUSINESS ACTIONS will be more SMART and more EFFECTIVE and your business will start to move forward at a faster rate.  Greater business success should then follow.

As YOU start to see your business moving forward, YOU will feel that YOU have greater CONTROL and YOU will start to RELAX more and possibly become less STRESSED and quite possibly start to enjoy your business more.

This is a very quick snap shot of how SMART BUSINESS THINKING could work for YOU, there is much more on this site about SMART BUSINESS THINKING.

Robert-Viney-525x350 Want Greater Business Success? Change Your Thinking

If you wish to discuss this with me more fully, please email me at Robert@prestigebusinesscoaching.co.uk or leave a comment below.  You could also sign up for my NEWSLETTER for more great business tips

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Your Customer Is King

Your-Customer-Is-King-1 Your Customer Is King

Your Customer Is King!

Your CUSTOMER is the MOST IMPORTANT PART of your business  –  Your CUSTOMER IS KING!

Without your CUSTOMER, YOU will have NO SALES with NO money coming into your business and, ultimately, you would have NO PROFIT for your business.

But to make a GOOD PROFIT, YOU need a LARGE number of customers buying a LARGE number of products, giving you LOADS of money as SALES.

This is why your CUSTOMER IS KING!

And, you must keep THINKING this.

Many Businesses Don’t Have Enough Customers To Provide Enough Money For The Business To Function

Many businesses that struggle or fail, DON’T have enough CUSTOMERS buying enough products to give the business enough MONEY to function right.    Then, there is NOT enough MONEY to cover the COSTS and EXPENSES of the business and the business RUNS OUT OF MONEY and STOPS!!

It is as simple as that.

Focus On The Customer Is The Answer

The answer is to accrue enough CUSTOMERS to provide the business with enough MONEY to pay the COSTS and EXPENSES and to give the business a good PROFIT,

Entrepreneurs and businesses that FOCUS HEAVILY on their TARGET CUSTOMERS and RUN their businesses around their TARGET CUSTOMERS, always do MUCH BETTER and always have greater SUCCESS.

This is known as making the business CUSTOMER-CENTRIC or, in other words, running the business around the CUSTOMER.

Being Customer-Centric, Allows A Business To Think Differently

By being CUSTOMER-CENTRIC and having a heavy FOCUS on the CUSTOMER allows the business owner to think differently about the business and, in particular, think differently about the CUSTOMER.

These businesses:-

  • Know their target customers well
  • Understand their target customers comprehensively
  • Understand the need and wants of their target customers
  • Understand what products will deliver benefits to their target customers
  • Give their target customers what they want & need
  • Know how to contact their target customers through their marketing etc.
  • Keep talking to their customers

Businesses that treat their CUSTOMERS AS KING and are CUSTOMER-CENTRIC have a far deeper knowledge of their target customers – they know who they are, what they want and what they need and they UNDERSTAND what products to sell to them.

Greater Sales And Profits Result

The result is always more PRODUCTS SOLD, greater SALES, greater REVENUES and greater PROFITS.

Through this knowledge, they also understand how to reach them better through their marketing; their marketing is more targeted, less wasteful and more effective and this creates more CUSTOMERS for the business at a reduced marketing cost.

Create An Army Of Loyal Customers

Over time, this approach accumulates a large volume of CUSTOMERS for a CUSTOMER-CENTRIC business – AN ARMY of LOYAL CUSTOMERS who return time and time again to buy their PRODUCTS and put LOADS OF MONEY into the business.

Let Me Ask You Some Questions
  • How CUSTOMER-CENTRIC are you?    
  • Do you think that your CUSTOMER IS KING?
  • How heavily do YOU FOCUS on your TARGET CUSTOMER?
  • Do YOU really UNDERSTAND your TARGET CUSTOMERS and what their NEEDS and WANTS are?
  • Do your products really deliver the RIGHT BENEFITS to your target customers?
  • Do YOU have an ARMY of LOYAL CUSTOMERS buying time and time again from YOU?
Your Sales & Profits Could Be Low, If You Don’t Have Focus On your Customer

If your SALES and PROFITS are LOW, it could be because YOU DON’T FOCUS enough on your TARGET CUSTOMERS and YOU DON’T RUN your business around your CUSTOMER enough, if at all.

It is time to change your thinking:

THINK DIFFERENTLY ABOUT YOUR TARGET CUSTOMERS – THINK YOUR CUSTOMER IS KING!

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Set Yourself A New Objective

Set yourself a NEW OBJECTIVE and say to yourself now:

“My OBJECTIVE must be to FOCUS HEAVILY on my TARGET CUSTOMERS and to RUN my business around my TARGET CUSTOMER”.

Whether you are starting a business or you are an established small business, you must design your business plan and business strategy around your customer.

Make your business CUSTOMER-CENTRIC and think that your CUSTOMER IS KING!

NEWSLETTER-300x300 Your Customer Is King

 

If you would like further advice on this, please contact me: Robert@prestigebusinesscoaching.co.uk

Or leave a comment below to engage in the conversation.

THINK DIFFERENTLY, ACT BETTER!

HAVE SMART BUSINESS THINKING & SMART BUSINESS ACTIONS

More Reading From Robert Viney:-

How-Healthy-Are-Your-Profits.docx-3-300x160 Your Customer Is King         Double-Your-Profits-7-300x160 Your Customer Is King

Robert-Viney-525x350 Your Customer Is King

 

 

Catapult Your Business Success By Creating The Same Positive Mindset As The Most Successful In Business

Want To Catapult Your Business Success? Have A Strong Positive Mindset

Have-A-Strong-Positive-Business-Mind Want To Catapult Your Business Success?  Have A Strong Positive Mindset

Want To Catapult Your Business Success?  

The Answer Is Have A Strong Positive Mindset

What makes the MOST SUCCESSFUL ENTREPRENEURS in business SUCCESSFUL?

The answer is A STRONG POSITIVE MINDSET.

The likes of Richard Branson, Peter Jones & Alan Sugar all have very strong positive mindsets.  And, if you want the same level of business success, as they have achieved, you must develop the same mindset.

 

By Creating A Strong Positive Attitude & Mindset, It Is Possible To Catapult Your Business

When the TOP 10% of business achievers in the UK and the US are repeatedly asked the question:-

“What do they put their business success down to?”  

The vast majority consistently answer that a ‘STRONG POSITIVE ATTITUDE’ is the key.

Harvard Business School has repeatedly reported that there is NO CORRELATION between GRADES and ACHIEVEMENT for their students who leave the Business School  –  it is shown that ACHIEVEMENT is 80% POSITIVE ATTITUDE and 20% ABILITY.

 

The Top 10% Have A Strong Positive Business Mind & A Strong Positive Attitude

The top 10% of the most successful entrepreneurs in business all have a Strong Positive Business Mind and Strong Positive Attitude and this allows them to THINK and ACT in a different way to how the rest in business THINK and ACT.

I call this SMART BUSINESS THINKING and SMART BUSINESS ACTIONS.

By having a STRONG POSITIVE BUSINESS MIND and STRONG POSITIVE ATTITUDE, the top 10% of successful entrepreneurs are able:-

  • To use the POWER OF THOUGHT, POSITIVE THINKING & SMART BUSINESS THINKING in everything
  • To work SMARTLY & to use SMART BUSINESS ACTIONS RIGHT
  • To work more EFFICIENTLY & in a more EFFECTIVE way
  • To work in a more ORGANIZED way
  • To work by setting OBJECTIVES & GOALS
  • To work in a highly FOCUSED way
  • To achieve MORE in LESS TIME and with LESS EFFORT
  • To be more RELAXED & to work with LESS STRESS
  • To move forward by ACHIEVING TARGETS
  • To ENJOY their work more & to be HAPPY in it
  • To be VERY SUCCESSFUL

 

The top 10% of all entrepreneurs are able to THINK in far more creative, far more analytical and far more innovative ways that lead to really SMART BUSINESS ACTIONS. They have highly organized minds that allow them to be highly efficient and effective, achieving more in less time with less stress.

Their MINDSETS allow them do whatever it takes to push their businesses on, even if it means taking them far outside their comfort zones.   Their minds are very positive and they know how to deal with setbacks and failures, never letting these hold them back. They are incredibly optimistic and they have an intense belief in their ability to be successful and they have enormous determination to achieve all their objectives and goals.

Acute FOCUS on every part of their businesses then results and this allows them to project themselves and their businesses to great heights of business success.

 

A Strong Positive Business Mind & A Strong Positive Attitude Must Come First

Before you can achieve GREATER BUSINESS SUCCESS, you must first create a STRONG POSITIVE BUSINESS MIND & MENTAL ATTITUDE.

 

Use The Power Of Thought To Create A Strong Positive Business Mind

You can build a STRONG POSITIVE BUSINESS MIND by harnessing the POWER OF THOUGHT –  this is the ENGINE that drives the THINKING PROCESS. 

Napoleon Hill in his best selling 1939 book ‘THINK & GROW RICH’ says that “YOU BECOME WHAT YOU THINK ABOUT”  In essence, it means that if YOU THINK something enough, your subconscious mind accepts the THOUGHT and it then becomes possible to become that THOUGHT.

Many of the most successful entrepreneurs have used this technique to become a BUSINESS SUCCESS and to BECOME RICH;  each one has decided they wanted to become a BUSINESS SUCCESS and to become RICH and, through THINKING repeatedly that they would become RICH, they have actually become RICH.

The MIND and the BRAIN are both very POWERFUL and when the BRAIN accepts the concept of being RICH, it then looks for ways that RICHES can be acquired. Ideas and opportunities to become RICH come flooding into the BRAIN. The top 10% successful entrepreneurs then take the best opportunities and use them to create wealth.

This might sound simplistic but it DOES ACTUALLY WORK and it works by ‘PROGRAMMING THE MIND’

 

It Changes Your Thinking

Programming the mind works in TWO WAYS:-

  • HOW YOU THINK
  • WHAT YOU THINK

HOW most successful entrepreneurs THINK is different to HOW others in business THINK but also WHAT they THINK is different, too.  This allows them to THINK in a highly CREATIVE way and allows them to think ‘OUTSIDE THE BOX’

This creates some very EFFECTIVE ACTIONS within their businesses.

 

In Business, There Are Many Challenges

In business, there are many challenges and often failure can be a reality.  The FEAR OF FAILURE and STEPPING OUTSIDE THE COMFORT ZONE can hold many entrepreneurs back.  Many don’t BELIEVE enough in their future BUSINESS SUCCESS  –  they have doubts about their ability to be SUCCESSFUL and they have doubts that they can really make significant progress in their businesses.

Many entrepreneurs are running average businesses but lack the courage to attempt to take their businesses to a higher level because they are uncertain of the outcome and more happy to stay with the ‘status quo’ rather than risk what they already have.

Many of these entrepreneurs are experiencing a mental ‘block’ that is stopping them moving forward in their businesses.  It is possible to unblock ‘the block’ through the POWER OF THOUGHT and WHAT IS THOUGHT.

But when the mind is ‘unblocked’ changes do happen, creating  MORE POSITIVE THOUGHTS and MORE POSITIVE ACTIONS.

This process is equivalent to PROGRAMMING THE MIND and YOU can do the same by saying to yourself two STRONG messages, time and time again; these thoughts will PROGRAM your mind to UNBLOCK YOUR MIND and to conquer many of your CHALLENGES.

 

You Can Program Your Mind

You can PROGRAM your mind to believe in your ability to be successful with TWO powerful messages:-

“I AM A SUCCESS”

“I CAN DO THIS”

The key to achieving SUCCESS is to BELIEVE in your SUCCESS. 

By saying “I AM A SUCCESS” repeatedly over and over, YOU will start to THINK that YOU are a SUCCESS, even though YOU have NOT actually achieved SUCCESS up to that point.  After about a month, YOU will feel MORE POSITIVE and YOU will THINK more about the ways that YOU can drive your business forward.

To help the process, I recommend YOU print a poster for your office wall to aid YOU AFFIRMING this.

 

 I-AmASuccess-350x350 Want To Catapult Your Business Success?  Have A Strong Positive Mindset

When YOU start to look at the WAYS that YOU can take your business forward, YOU will probably start to have further doubts and your MIND may tell YOU:

“I CAN’T DO THIS”

When this happens, YOU must dispel this thought and say:

“I CAN DO THIS”

And, YOU must continually keep THINKING this.

Again a poster for your office wall will help with your AFFIRMATION.

 

 I-Can-Do-This-350x350 Want To Catapult Your Business Success?  Have A Strong Positive Mindset

Change Your Thinking & Use The Power Of Thought

Think now about BEING RICH and keep repeating to yourself:-

“I AM A SUCCESS”

“I CAN DO THIS”

Gradually, you will start to feel more positive and have a greater belief in your ability to take your business to the next level.

 

Catapult-Your-Business-Success-By-Creating-The-Same-Positive-Mindset-As-The-Most-Successful Want To Catapult Your Business Success?  Have A Strong Positive Mindset

 

Think How Happy You Would Feel

To help YOU, THINK also what the BENEFIT to your business would be of doing a certain thing for your business.   YOU could ask yourself another question:

“HOW HAPPY WOULD I BE WITH MYSELF IF I ACHIEVE THIS?”

The chances are YOU would be VERY HAPPY with yourself for achieving something that meant YOU STEPPING OUTSIDE YOUR COMFORT ZONE  –  especially if YOU can see a real BENEFIT for your business and your business makes progress as a result.

This should then give YOU confidence to do more.

 

Keep Your Thoughts Positive

Another thing YOU can do is to keep all your THOUGHTS POSITIVE and this helps to create a STRONG POSITIVE MENTAL ATTITUDE.  For me, if a NEGATIVE THOUGHT comes into my mind, I KICK IT OUT and I replace it with a GOOD, POSITIVE THOUGHT; I think of my family and friends and other good things in my life.

YOU should do the same.

 

 

Goal Setting

The next part of the process is to create GOALS for what YOU want to achieve in your business; these should be short, medium and long term GOALS. 

GOAL SETTING is incredibly important for maintaining the right mindset and for achieving business success. The most successful entrepreneurs in business all use GOAL SETTING and they always work hard to achieve their goals.

Each goal achieved propels the business forward and by continually setting and achieving goals, the most successful entrepreneurs are continually making progress.

 

Goal Setting Creates Intense Focus

The process of GOAL SETTING creates intense FOCUS which, in turn, creates DETERMINATION, PERSISTENCE, DRIVE, OPTIMISM and PASSION making it possible to do whatever is necessary in the business including STEPPING OUTSIDE THE COMFORT ZONE and combating the FEAR OF FAILURE.

SUCCESSFUL ENTREPRENEURS don’t FEAR FAILURE;  importantly, many have experienced FAILURE and SETBACKS. They view SETBACKS as part of the learning process and part of the process of achieving business success.

Each successful entrepreneur learns from each experience and each never repeats the same mistakes.  Each successful entrepreneur is very resilient and they don’t linger on the setbacks.  They shrug off the setback and get moving forward again, quickly.

The result is that SUCCESSFUL ENTREPRENEURS make QUICK and SMART DECISIONS, eliminating PROCRASTINATION.  SMART BUSINESS ACTIONS are the result;  these actions drive their businesses forward and generate greater profits.

The TOP 10% most successful business entrepreneurs have all of the above and if YOU can replicate them, then YOU will be SUCCESSFUL, too.

 

You Should Aspire To Acquire The Qualities Of The Most Successful Entrepreneurs

The most successful business entrepreneurs all consistently have the same qualities and YOU should aspire to achieve the same qualities.  Here are the main ones:-

  • BURNING DESIRE FOR BUSINESS SUCCESS
  • HUGE BELIEF IN THEIR BUSINESS SUCCESS
  • GREAT EXPECTATION OF THEIR BUSINESS SUCCESS
  • BIG BELIEF IN THEIR BUSINESS ABILITY
  • STRONG POSITIVE ATTITUDE
  • GREAT DETERMINATION, DRIVE & PERSISTENCE
  • MASSIVE OPTIMISM
  • SETTING OF GOALS
  • MASSIVE FOCUS
  • GREAT PASSION
  • POSITIVE THINKING
  • SMART BUSINESS THINKING
  • GOOD DECISION MAKING
  • NEVER PROCRASTINATING
  • SMART BUSINESS ACTIONS
  • ABILITY TO STEP OUTSIDE THEIR COMFORT ZONE
  • NO FEAR OF FAILURE
  • ABILITY TO LEARN FROM THEIR MISTAKES
  • ABILITY TO REBOUND QUICKLY FROM SET-BACKS

    Have-A-Strong-Positive-Business-Mind-600x319 Want To Catapult Your Business Success?  Have A Strong Positive Mindset

 

This Is A Rough Snapshot

This is a rough snapshot of how important having a Strong Positive Business Mind and a Strong Positive Attitude is to achieving GREAT BUSINESS SUCCESS.

The most successful business entrepreneurs all have the same or similar MINDSET that allows all of the above and if YOU wish to replicate their business success, YOU need to develop the same MINDSET.

YOU should THINK ABOUT PROGRAMMING YOUR MIND  –  ‘THINK & GROW RICH’ and remember “YOU BECOME WHAT YOU THINK ABOUT”

There is more on this site about the BUSINESS MIND and I strongly suggest you read the next article: ‘CHANGE YOUR THINKING’

If you wish to talk more with me about this, please email me at Robert@prestigebusinescoaching.co.uk or leave a comment below.

Robert-Viney-525x350 Want To Catapult Your Business Success?  Have A Strong Positive Mindset

 

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More Reading

10-MOST-SUCCESSFUL-BUSINESS-PEOPLE-300x208 Want To Catapult Your Business Success?  Have A Strong Positive Mindset

 

Double Your Profits For your Business & Your Business Success

Double Your Business Profit

Double-Your-Profits-7 Double Your Business Profit

Double Your Business Profit By Making Small Changes

It is very possible to DOUBLE YOUR BUSINESS PROFIT by making SMALL changes to your REVENUE SALES, MARGINS and COSTS.

If YOU have read some of my other articles on this site, YOU would have read my comments about the top 10% who achieved huge profits and huge success in their businesses and the remaining 90% who are running mediocre business with mediocre profits.

In my articles, I have also made several references to SMART BUSINESS THINKING and SMART BUSINESS ACTIONS and have said that if the 90% want to migrate to the top 10%, they have to change their THINKING and ACTIONS in their businesses.

In this article, I want YOU to THINK that through SMART BUSINESS THINKING and SMART BUSINESS ACTIONS, YOU could increase your BUSINESS PROFIT dramatically by only making small changes to your business and your business plan.

I know from experience in my own businesses and working with other businesses and startups that relatively small changes can be made that could literally DOUBLE your NET BUSINESS PROFIT, through doing the following:-

  • REVENUE SALES be increased by 20%
  • MARGINS be increased by 8%
  • COSTS be decreased by 10%
Look At An Example

Let me give YOU an example for an average business with £125,000 SALES REVENUE (ex VAT), GROSS PROFIT MARGIN of 50% or £62,500 and COSTS of £40,000.

A PROFIT AND LOSS SUMMARY for this business could look like this:-

  • REVENUE SALES                              £125,000
  • GROSS PROFIT                                   £62,500   (50%)
  • COSTS                                                  £40,000
  • NET BUSINESS PROFIT                    £22,500   (18%)

If YOU made the changes that I highlighted above, the PROFIT AND LOSS SUMMARY could look like this:-

  • REVENUE SALES                             £150,000
  • GROSS PROFIT                                  £81,000   (54%)
  • COSTS                                                 £36,000
  • NET BUSINESS  PROFIT                 £45,000  (30%)

Here the NET BUSINESS PROFIT in terms of MONEY has doubled to £45,000 and the NET BUSINESS PROFIT in terms of PERCENTAGE has risen 66% from 18% to 30%.

Hopefully, YOU can see that a BIG CHANGE to the NET BUSINESS PROFIT has been made through reasonably small changes to the BUSINESS NUMBERS.

 

Business Profit Is Doubled

Surely £45,000 is MUCH BETTER than £22,500!

But, I hear YOU say that YOU could NOT make these changes in your business, small as they maybe.

My reply would be that these changes could be easier than YOU THINK, so please read on!

 

How To Do This

If YOU have read some of my other ARTICLES on this site, YOU would have read that I have said YOU should KNOW and UNDERSTAND YOUR TARGET CUSTOMERS COMPREHENSIVELY.

This means KNOWING and UNDERSTANDING them MUCH BETTER than YOU do now  –  MUCH BETTER!!!

Through this KNOWLEDGE, YOU will be to achieve the following:-

  • YOU will able to TARGET your TARGET CUSTOMERS much better with your MARKETING, grabbing more CUSTOMERS and making them BUY MORE from YOU.
  • YOU will be able to BUILD A BIGGER ARMY OF LOYAL CUSTOMERS who will return time and time again to BUY MORE.
  • YOU will be able to provide MUCH BETTER PRODUCTS that will provide BETTER HELP and BENEFITS for your TARGET CUSTOMERS.
  • YOU will be able to provide MUCH BETTER CUSTOMER SERVICE that will EXCITE and IMPRESS your TARGET CUSTOMERS.
  • YOU will be able to provide BETTER PRODUCTS and BETTER CUSTOMER SERVICE, allowing YOU to increase your PRICES modestly.
  • By EXCITING your CUSTOMERS, YOU will create WORD OF MOUTH, the most powerful MARKETING TOOL in business, thus reducing your MARKETING COSTS.

All of the above will GROW your REVENUE SALES and GROSS PROFIT MARGIN and help to reduce some COSTS.

In addition to this, every business owner should do a COMPREHENSIVE AUDIT of their REVENUE, MARGINS & COSTS ideally every 3 months and certainly every 6 months to see where they can GROW their business and make SAVINGS  –  many businesses don’t do this EVER!!

The most successful in business will do this as a course of habit and are constantly tweaking their BUSINESS PLANS.

 

Have The Same Habit

If YOU want the same SUCCESS, YOU could achieve it by acquiring this same habit.

Hopefully, this has convinced YOU that this possible.

NEWSLETTER-300x300 Double Your Business Profit

You Could Do Even Better Than This

In my view, doing what I have described is the minimum anyone can do in their businesses –  I THINK much more is possible  –  I am talking about DOUBLING or TREBLING REVENUE SALES!!!

The WILL to MAKE THE CHANGES along with SMART BUSINESS THINKING and SMART BUSINESS ACTIONS is all that is needed.     This will create the FOCUS to look at your CUSTOMERS, your PRODUCTS, your TRADING MARKET and EVERYTHING ELSE in your business and an AVALANCHE of possibilities will unfold to effect the changes that I have described here in this ARTICLE.

TRY DOING THIS NOW!!!

 

WHY NOT SET YOURSELF THE OBJECTIVE of:-
  • INCREASING REVENUE SALES by 20%
  • INCREASING MARGINS by 8%
  • DECREASING COSTS by 10%

And, DO IT NOW!!!

 

If YOU wish to discuss this further with me, please email at Robert@prestigebusinesscoaching.co.uk

Or please leave a comment below.

Robert-Viney-525x350 Double Your Business Profit

HAVE SMART BUSINESS THINKING & SMART BUSINESS ACTIONS!

Robert Viney, Prestige Business Coaching, successful entrepreneur of 30 years

Is Your Business Profit Good?

How-Healthy-Are-Your-Profits.docx-3-600x319 Is Your Business Profit Good?

Is Your Business Profit Good?

How Healthy Are Your Profits?

  • How healthy is your business?

  • Are your sales rising?

  • Are your margins good?

  • Do you have control of your costs?

  • Are your Profits growing?

  • Is your business profit good?

  • Do you need to boost your business profit?

    If your sales and profits are growing then you should have a healthy business. But if your sales and profits are flat or are decreasing, then your business is not so healthy and you need to take action.

In such a situation, your business needs a complete re-think –  you need to re-think everything within your business, starting with FOUR major areas:-

  • Your Products
  • Your Customers
  • Your Margins
  • Your Costs
You should ask yourself questions about your products:-
  • Are your products matched exactly to the needs and wants of your customers?
  • Do your products bring real benefits to your customers?
  • Do your products make the lives of your customers better?
  • Are your products priced right to give value for money but also a good margin?
  • Have your product sales dipped in the past 12 months and, if so, by how much and why?

You need to sell a high number of your products to generate high sales that keep growing, but you will only achieve that if your products match exactly the needs and wants of your customers.

You should ask yourself questions about your customers:-
  • Do you understand fully who your target customers are & everything about them?
  • Do you have an army of customers that is growing?
  • Do your customers return to buy more from you?
  • Do your customers tell their friends about you?
  • Do your customers get a good customer experience from your business?
  • Has your customer numbers dropped in the past 12 months and, if so, by how much?

It is imperative that you understand who your target customer is and you understand everything about the needs and wants of that customer –  then you should be able to sell them the right product and achieve a large army of customers and keep growing that army.

You should ask yourself questions about your gross profit margins:-
  • Is your margin sufficient to pay your costs and to give you a good net profit?
  • Are your selling prices lower than the equivalent charged by your competitors?
  • When was your last selling price increase?
  • Are you paying too much for your products?
  • Has your margin slipped in the past 12 months and, if so, by how much?

It is important to understand how your margin affects your net profit –  it must be large enough to comfortably pay all your costs and to give you a high net profit.  Are your prices too low and if you were to increase them, would sales slip?  In my experience, if you have a strong product offering, price increases should not affect sales.

You should ask yourself questions about your costs:-
  • Do you have a clear understanding of all your costs?
  • Are you as efficient and lean as you could be?
  • Do you know which costs have increased over the past 12 months, and by how much and why?
  • Are there purchases being made that could be trimmed or eliminated?

It is very easy for costs to creep up and to not be noticed. You should look at each cost and analyse each one and see where quick savings can be made.

From experience, doing this exercise can often generate significant changes to the health of a business. Even just a 10% increase in sales, a 2% increase in margin and a 10% decrease in costs can have a dramatic effect on the net profit, often adding as much as 40%  –  now that is surely worth having?

Have a think about this now!

How-Healthy-Are-Your-Profits.docx-3-600x319 Is Your Business Profit Good?

This is a very quick snapshot of possible remedies for an unhealthy business, but if you would like some more advice, email me now: Robert@prestigebusinesscoaching.co.uk.

Or leave me a comment below.

HAVE SMART BUSINESS THINKING, HAVE SMART BUSINESS ACTIONS!

Robert-Viney Is Your Business Profit Good?

If you liked this article, why not sign up to my NEWSLETTER,

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When starting your own business, do your homework

MAKE YOUR BUSINESS STARTUP A SUCCESS BY DOING YOUR HOMEWORK!

DO-YOUR-HOMEWORK-600x319 MAKE YOUR BUSINESS STARTUP A SUCCESS BY DOING YOUR HOMEWORK!

MAKE YOUR BUSINESS STARTUP A SUCCESS BY DOING YOUR HOMEWORK!

When YOU start your new business startup, YOU want it to be a phenomenal success, but sadly 50% of new businesses fail in the first 3 years.

You don’t want this to be YOU – so START YOUR BUSINESS RIGHT.

There Is a Big Reason For Failure

ONE big reason is the lack of HOMEWORK that is done before a business startup proceeds.

What do I mean by HOMEWORK?

In short, I mean FOUR things:-

  • RESEARCH
  • UNDERSTAND
  • THINK
  • PLAN
You Must Research Everything

When YOU start a new business, YOU must RESEARCH heavily literally EVERYTHING to do with your new business. The most important parts are:-

  • Your TRADING MARKET & your COMPETITORS
  • Your CUSTOMERS
  • The PRODUCTS you will sell
  • The CUSTOMER SERVICE you should provide
  • The PRICES you will buy your PRODUCTS for and the PRICES you will sell them for
  • Your MARKETING
  • Your BUSINESS NUMBERS

With the RIGHT RESEARCH, YOU should sit down to UNDERSTAND what you have learned and have a good THINK about EVERYTHING. From all this, a good practical BUSINESS PLAN should be created – one that will deliver SUCCESS for your new business.

Understand Your Trading Market

It is important to know everything about the TRADING MARKET that YOU are about to enter – information such as what is the monetary value of the market, is it growing or shrinking and who are the competitors?

Your new business is more likely to be successful, if your trading market is growing and there are not too many competitors; a shrinking market and too many competitors could make it difficult.

Know Your Customers, Your Products & Your Customer Service

Then, YOU need to know who your likely customers are and understand them as fully as possible – such knowledge would allow YOU to understand their needs and wants and what products your business could supply them with.

Your Customer Service is just as important as your products and you need to know what customer service to provide in order to get your products to your customers.

Understand Your Competitors

A good way to learn about your target customers and the products that you should sell is from your likely competitors. If you are to compete effectively against your competitors, you will need to grab many of their customers and sell the same or similar products.

You should look at the target customers and understand who they are. You need to buy some of their products and analyse these closely and understand why these customers buy these products. Finally, you need to look at the customer service offered and look at customer reviews to see what their customers think.

If you are to compete successfully, you need to be much better than your competitors – your products and customer service both need to be excellent. You should look for your competitors’ strengths and try to be much better, but you should also look for their weakness and try to exploit these.

Know Your Prices

Prices are important and you need to learn about the selling prices for the products in the trading market; understand what prices your target customers will pay and whether quality is more important than price, for instance. If quality is more important, this gives you scope to charge higher prices.

Again, you can gather much information on pricing from your competitors but think that it does not always pay to be the cheapest in your market.  Many new business startups have accrued a lot of customers and sales by being too cheap, but have failed because there was no profit.

Look At Your Marketing

By knowing your customers and how to reach them through your marketing, YOU can work out how you will market your business. Many new start-ups fall into the trap of spending a lot on advertising that does not work and this often drains their resources.

Try to do as much free marketing as you can – online social media marketing is a must along with a good website and try to get free PR marketing by telling the media about you and getting them to spread the news.

Know Your Numbers

Your numbers are really important & you must research and understand these – remember 50% of new start-ups fail because they don’t make enough money for a profit; their numbers go wrong – your numbers are important.

You must research what your likely sales, gross profit and costs will be. Then, YOU should create a realistic projected profit and loss projection for the first year or so and see what your profit is likely to be and when your startup will make money; ideally you want to make a profit within the first six months.

The quicker you can make a profit the better, so try to aim to become profitable almost immediately.

Create A Simple Business Plan

When your RESEARCH is complete and YOU feel you fully understand EVERYTHING, YOU should put a simple BUSINESS PLAN together and ideally get a business coach or mentor to review it for YOU; a critical review should highlight your strengths and weaknesses.

The better your plan, the better your chances of success.

Then Put Your Plan Into Action

When YOU are happy with your plan and when YOU are ready to start, YOU should LAUNCH your business – don’t just start it, however, but LAUNCH it under a blaze of publicity!

So many new start-ups start with a whimper & they never really get going and fail very quickly.

DO-YOUR-HOMEWORK-600x319 MAKE YOUR BUSINESS STARTUP A SUCCESS BY DOING YOUR HOMEWORK!

Summary

By RESEARCHING very heavily and very comprehensively EVERYTHING within your new business, YOU will be able to UNDERSTAND your business FULLY, before YOU actually START.

YOU should then use some quality THINKING on how your business will be moulded and how it will RUN and put this into a PLAN.

Once and, only once, YOU are READY TO START your business, YOU should ACT and get started BY LAUNCHING your new business.

Be A Success

Too often businesses START with only a fraction of the RESEARCH and UNDERSTANDING that is needed for success.  WRONG THINKING and PATCHY PLANNING then follows and the business has a POOR START.  These businesses then struggle for the early months or years before eventually FAILING.

If YOU are STARTING A NEW BUSINESS, YOU should take your time and only OPEN when YOU are READY.

HAVE SMART BUSINESS THINKING,  SMART BUSINESS ACTIONS

If you would like to continue the conversation, please leave a comment below or email me at Robert@prsetigebusinesscoaching.co.uk

Robert-Viney-525x350 MAKE YOUR BUSINESS STARTUP A SUCCESS BY DOING YOUR HOMEWORK!

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How To Become One Of the Most successful Businesses - www.prestigebusinesscoaching.co.uk/business-blogbusiness-people

BOOST YOUR BUSINESS SUCCESS

Originally posted April 2016, updated January 2017

BECOME ONE OF THE 10% MOST SUCCESSFUL BUSINESSES & ACHIEVE HUGE BUSINESS SUCCESS

BECOME A MEMBER OF THE ‘10% CLUB’ – THE 10% MOST SUCCESSFUL BUSINESS ENTREPRENEURS

90% of businesses just drift along, languishing in mediocrity in terms of profits and performance & many never really achieve real business success.   The other 10% make BIG PROFITS and are MASSIVELY SUCCESSFUL.

But often the owners of those 90% of businesses cannot see how they can elevate themselves and their businesses to do better.  Many of these entrepreneurs do not realize, however, that the switch to become a member of the ‘10% CLUB’ of the 10% most successful businesses is much easier than they think.

10-MOST-SUCCESSFUL-BUSINESS-PEOPLE BOOST YOUR BUSINESS SUCCESS

What Is A Successful Business?

For me, a successful business is one that is growing in sales with a good profit base and a strong balance sheet.  The following sums up an ideal successful business:-

  • sales and net profits should be growing by at least 20% per annum, year on year
  • sales should exceed £100,000 per annum in year 2 after startup & £0.5 million – £1 million + per annum after 10 years
  • net profit should exceed 20% of sales
  • business has strong 6 digit cash-rich balance sheet after 5 years of trading
  • business owners have full control over the business
  • business runs efficiently with low wastage
  • business has a strong team of happy & effective employees
  • business owners are happy and are not stressed
  • business provides a good living for owners & a retains a good profit after owners’ drawings
  • owners run their business & business does not run the owners

This is a very rough appraisal.

For me, a SUCCESSFUL BUSINESS is one that is growing and making money, but is also one where the owners are in full control and are happy and are enjoying running their business with a good life balance.   A successful business entrepreneur should be able to draw a good income, leaving a good residue profit for re-investment and for building the balance sheet.  A successful business entrepreneur is one that could sell after, say 10 or 12 years, for a good reward that would allow them to retire or for a sum that would allow them to go a big way to providing for their long term.

Sadly, too many business owners do not find themselves in the scenario of the ideal successful business that I describe above.   Many of the 90% of businesses have poor mediocre sales and profits with low or no growth.  These  owners find themselves stressed as a result and importantly they are not happy and are not enjoying the experience of running their businesses.

Many business owners would say that money is not important and I think that can be right, but I know from experience that a business is much easier to run and provides a happier experience for the business owners if sales and profits are growing at a good rate of the order of 20% or more.

If you are a business owner, where growth in sales is flat and profits are poor, you should think that it is much easier to transform your business nearer to the scenario that I describe above than you possibly think.

If YOU want to make the change and to become a great BUSINESS SUCCESS, the place to start is to think that your business is about TWO FUNDAMENTAL PARTS:-

  • PART 1 IS YOU & YOUR ATTITUDE
  • PART 2 IS YOUR BUSINESS STRATEGY

Harvard Business School has consistently said that business success is consistently down to ATTITUDE rather than STRATEGY.  You can have the best business strategy and the best business plan but if your attitude is poor, then your strategy is not going to work and YOU will never achieve real BUSINESS SUCCESS.

As the business owner, your business success is determined by YOU.  So if YOU want to become one of the most successful business entrepreneurs and achieve huge business success, YOU have to change ‘YOU’.  YOU have to become like the most successful in business.

PART 1 is YOU and includes:-

  • YOUR MINDSET
  • YOUR ATTITUDE
  • YOUR THINKING
  • YOUR ACTIONS

Part 1 includes your mind, your mindset, your attitude and your thinking and how YOU carry out your actions within your business.  Generally, the stronger and more positive your attitude and having a mindset that will take YOU outside your comfort zone will create better outcomes to your actions.

The most successful business entrepreneurs all have the same mind characteristics and consistently have similar attitudes and mindsets.  Consistently most successful entrepreneurs have the same qualities, such as:-

  • BURNING DESIRE FOR BUSINESS SUCCESS
  • HUGE BELIEF IN THEIR BUSINESS SUCCESS
  • GREAT EXPECTATION OF THEIR BUSINESS SUCCESS
  • BIG BELIEF IN THEIR BUSINESS ABILITY
  • STRONG POSITIVE ATTITUDE
  • GREAT DETERMINATION, DRIVE & PERSISTENCE
  • MASSIVE OPTIMISM
  • SETTING OF GOALS
  • MASSIVE FOCUS
  • GREAT PASSION
  • POSITIVE THINKING
  • SMART BUSINESS THINKING
  • GOOD DECISION MAKING
  • NEVER PROCRASTINATING
  • SMART BUSINESS ACTIONS
  • ABILITY TO STEP OUTSIDE THEIR COMFORT ZONE
  • NO FEAR OF FAILURE
  • ABILITY TO LEARN FROM THEIR MISTAKES
  • ABILITY TO REBOUND QUICKLY FROM SET-BACKS

The most successful business entrepreneurs all have the same or similar MINDSET that allows all of the above and if YOU wish to replicate their business success, YOU need to develop the same MINDSET.

From my experience, the right business mindset starts with a STRONG, POSITIVE ATTITUDE, a BURNING DESIRE to be successful, a MASSIVE BELIEF in SUCCESS and a MASSIVE BELIEF in the ABILITY to achieve everything within the business.

GOAL SETTING is incredibly important for maintaining the right mindset. The most successful entrepreneurs in business all use goal setting and they always work hard to achieve their goals, with each goal achieved propelling them forward. By continually setting and achieving goals means the most successful are continually making progress.

The process of GOAL SETTING creates intense FOCUS which, in turn, creates DETERMINATION, PERSISTENCE, DRIVE, OPTIMISM and PASSION making it possible to do whatever is necessary in the business including STEPPING OUTSIDE THE COMFORT ZONE.

SUCCESSFUL ENTREPRENEURS don’t FEAR FAILURE;  importantly, many have experienced FAILURE and SET-BACKS. They view SETBACKS as part of the learning process and part of the process to achieving business success. Importantly, they learn from each experience and they never repeat the mistakes.  Each one is very resilient and don’t linger on the setbacks.  They shrug off the setback and get moving forward again, quickly.

The big consequence of all this is that SUCCESSFUL PEOPLE make QUICK and SMART DECISIONS, eliminating PROCRASTINATION.  SMART BUSINESS ACTIONS result within their businesses that drive their businesses forward and generate great profits.

The TOP 10% most successful business entrepreneurs have all of the above and if YOU can replicate them, then YOU should be SUCCESSFUL, too.

And, that will help YOU achieve PART 2.

PART 2 is YOUR BUSINESS STRATEGY.

Having the right BUSINESS MIND allows the most successful in business to set and execute the BEST BUSINESS STRATEGY and the BEST BUSINESS PLAN for their businesses. In my view, LASER FOCUS derived from having the RIGHT BUSINESS MIND becomes highly effective in the key areas of the business:-

  • UNDERSTANDING THE TARGET CUSTOMERS & THE TRADING MARKET
  • BUILDING AN ARMY OF LOYAL CUSTOMERS
  • CREATING THE RIGHT PRODUCTS
  • CREATING A STRONG BRAND
  • DELIVERING THE RIGHT CUSTOMER SERVICE
  • CREATING THE ULTIMATE CUSTOMER EXPERIENCE
  • HAVING HIGHLY EFFECTIVE MARKETING
  • DRIVING HIGH SALES & HIGH PROFITS
  • EMPLOYING & TRAINING THE RIGHT STAFF
  • CREATING EFFICIENT BUSINESS SYSTEMS
  • RUNNING THE BUSINESS EFFECTIVELY & EFFICIENTLY
  • CREATING A MONEY RICH BUSINESS
  • HAVING FULL CONTROL OF THE BUSINESS

The most successful ENTREPRENEURS in business UNDERSTAND FULLY their TARGET CUSTOMERS, their COMPETITORS and their TRADING MARKET. This allows them to provide the RIGHT PRODUCTS and the RIGHT CUSTOMER SERVICE that deliver the right benefits for a HUGE ARMY OF LOYAL CUSTOMERS and create superb CUSTOMER EXPERIENCES.

The most successful are also continually creating MARKETING that creates a STRONG BRAND and delivers more CUSTOMERS and more SALES.  They also FOCUS heavily on employing the RIGHT STAFF and training and treating them RIGHT and on creating STRONG SYSTEMS to run their businesses effectively and efficiently.

Importantly, they also FOCUS heavily on the the MONEY within their businesses and FOCUS on generating PROFIT and keeping their businesses CASH RICH.

All of this is possible because of a STRONG BUSINESS MIND, i.e. PART 1.

PART 2 is possible because of PART 1.

So for YOU to become one of the MOST SUCCESSFUL in business and for YOU to have huge BUSINESS SUCCESS, YOU need first a STRONG BUSINESS MIND and that will allow YOU to RUN your business much better.

The most successful in business do this and YOU can do the same –  YOU just need to decide that YOU will do it.

It could be much easier than YOU THINK.

10-MOST-SUCCESSFUL-BUSINESS-PEOPLE-506x350 BOOST YOUR BUSINESS SUCCESS

This website is full of useful business articles and features to show YOU how to BECOME A MEMBER OF THE ‘10% CLUB’, so for your future, please take the time and explore it.

To start, YOU should read the following:

Have-A-Strong-Positive-Business-Mind-300x160 BOOST YOUR BUSINESS SUCCESS

Have-Smart-Business-Thinking-300x160 BOOST YOUR BUSINESS SUCCESS

Have-Smart-Business-Actions-300x160 BOOST YOUR BUSINESS SUCCESS

If you wish to talk to me more about this, then please contact me: Robert@prestigebusinesscoaching.co.uk or leave a comment below:-

HAVE SMART BUSINESS THINKING & SMART BUSINESS ACTIONS

NEWSLETTER-300x300 BOOST YOUR BUSINESS SUCCESS