Tag: business success

Be A Business Success By Copying Other Successful Businesses

Posted on 28th February 20183rd March 2018 by Robert

Be A Business Success By Copying Other Successful Businesses.

Want To Boost The Success Of Your Business?

A Method Guaranteed To Bring Business Success.

If you are running a business or you are planning on starting a new business, I am sure you want it to be as successful as you can make it.

There is one simple process that can boost the success of any business, but so many business owners don’t think to use it.

Many don’t even know about it.

But if it is done right, it is guaranteed to work.

Here in this report, I want to share with you the method I used to create a great start to my first business. I am certain if you use the same method, your business or your startup could be greatly enhanced as a result.

Originally, I Was Told I Would Not Succeed In Business

When I first started in business, I was told that I would not be a business success and that I would fail and that I should forget the idea.

This got me thinking and wondering why some businesses were successes and why some businesses failed and why some entrepreneurs were massively successful and why some entrepreneurs were not.

I decided to research business success and business failure and to see if there was a trend.

This was back in 1980, when there was no internet, so the process was not as easy as it could be now, but I decided to talk to as many business people as I could and to research their businesses, their business models, their business strategies and their levels of business success.

A very strong trend emerged

1) The most successful businesses owners and entrepreneurs were those with a strong positive mindset and attitude, generally.

2) The least successful business owners and entrepreneurs were those with weak, negative mindsets.

In short, I observed that the stronger and the more positive the mindset, the greater the business success.

But this was only true if the strong mindset was applied right.

A strong positive mindset and attitude did not guarantee success.

The most successful in business were those who applied their strong mental attitudes best in their thinking and in their actions. In other words, the entrepreneurs who were able to adopt the smartest thinking and the smartest actions.

Thirty plus years later, I can say that this observation is still true and, importantly, it is not just my observation, as it is also supported by The Harvard Business School and many of the other global business schools, who consistently report that their most successful candidates are those with the strongest attitudes and not necessarily the best grades.

I have written about this previously in four of my other blogs, namely:

Become One Of The 10% Most Successful In Business

Please have a read of these, if you have not already done so.

When I did Start, I Was Ready To Start

I eventually started my business in 1984, but when I did start I was ready to start.

I knew how to succeed in my business and I knew how to avoid failure.

I not only researched the most successful entrepreneurs in business and understood why they succeeded but I also copied many of their successful business ways, strategies, and methods.

And, I also researched those entrepreneurs who had failed and understood why they failed and made a conscious effort to avoid their ways and methods.

I changed My Mindset And Attitude

One of the most important things that I did was to change and strengthened my mindset and my attitude and I learned how to think smartly and creatively.

Again, previously, I have written about this in two of my other blogs:

7 Ways To Achieve A Positive Attitude

8 Ways To Beat The Fear Of Failure

I Researched My Competitors

My research also took me to investigating my potential competitors, in great detail, and to looking at their business strategies and business models. I worked out which business strategies and business models created their business success and worked out which strategies and models were not so successful.

When I started, I designed my business around the strong parts of my competitors’ business models and I avoided the weak parts and the parts that were obviously not working.

In other words, I copied the best parts of my competitors’ businesses and avoided the bad parts.

But also, importantly, I did not just look at my competitors, I researched other businesses outside my niche and investigated both successful and unsuccessful businesses.

As with my competitors, I included the best parts into my own business and avoided the bad parts.

History Is Full Of Examples

When you look back at the history of starting and running businesses, there are loads of examples where SUCCESS IS SUCCESSFULLY COPIED.

It goes on all the time.

And, the reason is simple - it works.

Every successful business does it.

In the 1960’s, McDonald’s were very successful in the U.S. with their take-away burgers. The founders of Burger King could see the success that McDonald’s were having and wanted to start a similar business.

But they did not rush in.

They took their time and they did their HOMEWORK first.

They studied the most successful McDonald’s outlets and learned about the methods of trading that they used, the products that they were selling and the customers who bought these products.

They did much of this research by literally visiting McDonald’s outlets and sitting inside and outside the busiest outlets.

They then simply watched what went on.

With their research complete, they then started their own outlet a very short distance from the busiest McDonald’s outlet and it proved a great success for the first Burger King.

Not only did the founders do things in a similar way, but they offered a similar product to McDonald’s, and as they started close by, McDonalds customers would see the Burger King and visit.

Burger King took a significant number of McDonald’s customers.

Burger King Were Smart

But Burger King were smart – they looked at the business model for McDonald’s and they copied it, but, importantly, they thought creatively about it and asked themselves one very important question:

“How can we make this better?”

They Made Subtle Changes

They made small changes to the business idea, business model and the products offered, which proved to be very popular with their target customers.

One distinctive change was offering relishes and sauces with the burgers, which is something that McDonald’s, at the time, were not offering.

You might think this was very bold starting a similar business on the door step of your competitor. But it worked – look at Burger King now.

I started In A Similar Way By Copying Other Successful Businesses

My first business was a pub.

But instead of just taking over the pub and trading, I looked at the other pubs in the area. I would visit the most successful pubs, buy a drink and sit and watch.

After several months, I understood which customers, I should target, what food and drinks were popular, what prices to charge, what customer service to provide and what customer experience to create.

When I started to trade in the pub, everything learned was put into place and within a year, the pub was the local market leader and I grabbed many of our competitors’ customers – the competitors’ who we had copied!

Like Burger King, I thought creatively about my offerings and offered everything slightly different but much better.

And, it worked.

Ironically, the better competitors, then tried to copy me but I kept creating new and better products and they just could not catch up again.

Copying Other Successful Businesses Goes On All The Time

Copying goes on all the time – Pepsi Cola copied Coca Cola with their own cola drink and Apple and Samsung copy each other with their smart phones.

So it goes on all the time.

If you are not doing it in your business, you are a missing a very smart trick.

Understand What Your Competition Does & Why

Once you have identified a business to copy, it is important that you RESEARCH it heavily and UNDERSTAND why it is a SUCCESS and how the business model works.

You should look at all aspects of the business and ANALYSE EACH PART and THINK how you can incorporate the same ideas into your business.

One note of caution, most things you can copy, especially when you make small changes to the idea, but beware of any patent and copyright restrictions that may be in place and avoid plagiarism.

The High Failure Rate For Businesses Really Concerns Me

The high failure rate really concerns me, but I am absolutely certain that many existing businesses and those planning to start a business could do much better if they used this same method.

Think How You Can Be A Success By Copying Other Successful Businesses

1) Firstly decide that you are going to study SUCCESS and FAILURE.

2) Then start to study and research your competitors comprehensively and worked out why some of these businesses are doing well and why some are not.

3) Include other businesses outside your niche in your research and work out the reasons for the most successful and the reasons for the least successful.

4) Think how you can incorporate the best parts into your business and how you can avoid the bad parts. Set your business strategy and business model accordingly.

5) Think creatively how you can improve on the best parts of your competitors’ business, to give yourself a competitive edge.

6) Finally, take action and put into place what you have discovered.

One Thing To Think About

If a certain business is successful, and you were to introduce the same methods, same business strategies and same business models into your own business, would you not be just as successful, if you did things right?

The answer should surely be “YES!!!”

If you did it right, then you would be a success, too.

Be A Success By Copying Other Successful Businesses

If you want to be a SUCCESS in your business and not risk FAILURE, you should look at your SUCCESSFUL COMPETITORS and see what they are doing and copy them – but add a twist, by making your version slightly different and better!

But don’t make the mistake of trying to reinvent the wheel.

That is very difficult to do.

Remember, Be A Success By Copying Other Successful Businesses.

If you would like to talk more about this with me, please contact me at Robert@prestigebusinesscoaching.co.uk. or contact me here:

Become One Of The 10% Most Successful Businesses

Posted on 18th December 20173rd March 2018 by Robert

Become One Of The 10% Most Successful Businesses & A Member Of The '10% Club'.

Transform Your Business Success By Changing Your Mind, Changing Your Thoughts And Changing Your Actions.

Copy The Ways Of The Most Successful In Business.

Just 1% of all businesses and entrepreneurs are mega successful and only 10% of all business make a good profit and provide a good living and good retirement prospects for their owners.

That is the sad reality.

90% of businesses either fail or just drift along, languishing in mediocrity in terms of profits and performance & many never really achieve real business success.

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

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
sales should exceed £0.5 million - £1 million per annum after 10 years
net profit should exceed 20% of sales
business should have a strong 6 digit cash-rich balance sheet after 5 years of trading
business owners should have full control over the business
business should run efficiently with low wastage
business should have a strong team of happy & effective employees
business owners should be happy and not be stressed
business should provide a good living and a good pension for the owners
business should retain a good profit after owners' drawings
business owner should run the business & the business should 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.

Too Many Business Owners Do Not Enjoy This Scenario

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 much 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.

You Must Think Of Your Business As Being Two Parts

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 weak and negative, 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 Change 'You' As Part 1

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.

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:-

GREAT PASSION
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
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

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 HUGE PASSION for what they do, 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 they 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 are then the result creating good outcomes which drive their businesses forward, ultimately generate great profits.

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

And, that will help YOU achieve PART 2.

Part 2 Is Your Business

PART 2 is YOUR BUSINESS and 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 FOR THE TARGET CUSTOMERS
CREATING A STRONG BRAND
DELIVERING AN EXCELLENT CUSTOMER SERVICE
CREATING AN EXCELLENT 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 and to deliver the right benefits for a HUGE ARMY OF LOYAL CUSTOMERS and to ultimately create EXCELLENT CUSTOMER EXPERIENCES.

The most successful are also continually creating MARKETING that builds 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.

You Can Become Very Successful

So for YOU to become one of the MOST SUCCESSFUL in business, 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 to become a member of the '10% Club'.

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

To start, YOU should read the following articles that link into this article:

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

Provide An Excellent Customer Experience & You Will Never Have To Search Far For Customers Again

Posted on 5th December 20173rd March 2018 by Robert

Provide An Excellent Customer Experience & You Will Never Have To Search Far For Customers Again.

Create A Great Customer Experience & Get Your Customers Excited.

Learn How You Can Grow Your Business By Offering An Excellent Customer Experience.

I have spent most of my working life in the pub trade running pubs and started as a manager for a small regional brewery running a pub in Southampton in the early 1980’s.

It was a tough job for a new and inexperienced manager during a recession-hit Britain in a town with high unemployment.

But it taught me much.

When myself and my partner took over The Frog And Frigate, the pub was very run down and needed a huge boost to get the right customers in.

But, within a year of starting, we had completely transformed the pub and it was packed to the rafters with happy customers every day.

The key to the success was CUSTOMER EXPERIENCE.

Before taking over the pub, we researched the pub industry very heavily and we comprehensively studied the city of Southampton and our likely target customers. By the time we started, we understood comprehensively the local trading market and we knew exactly who our target customers were and what their needs and wants were and we set about fulfilling these.

Everyone had a fantastic customer experience, going away excited and telling their friends. We created an army of very loyal customers very quickly through ‘word of mouth’ mostly, spending very little on marketing or advertising.

In 1984, we bought our first pub in rural Somerset – The White Hart Inn. It was very run down with poor levels of trade and a poor reputation.

But we now knew how to transform a pub and we had the confidence to do it as we applied the same principles that we had used at The Frog & Frigate.

We researched our local trading market and target customers intensively and drew up detailed plans of how we would run the pub under our ownership.

Our Mission Was To Give Our Customers

The Very Best Customer Experience

Our primary mission was to give our customers the very best customer experience.

We knew what the other pubs were offering in the area, but our mission was not to just offer better quality and better choice than the others but to offer EXCELLENCE in everything we did.

We wanted to offer the very best we possibly could offer.

And we succeeded.

For our first lunchtime, we took a worryingly low £14 but within 6 months, we had replicated our first success by filling the place to the rafters with happy customers, once more and every day.

Again, key to the success was CUSTOMER EXPERIENCE.

Everything we offered was of a very high standard, exciting our customers and making them tell everyone else. ‘Word of mouth’ was literally rampant.

Within a year, we were the market leader taking customers from every other local pub. Most of these pubs responded by raising their standards, but they were all left wanting.

We had created such high standards in everything we did, our competition could not replicate our high standards.

In the 30 years following the purchase of The White Hart, more pubs, a brewery and two sandwich bars and delicatessens were all added and all very successfully.

But, importantly, the same principle was used to create high sales, namely CUSTOMER EXPERIENCE.

Anyone Can Copy What We Did

The procedure we used can be copied for any business and can be summarised as follows:

Make it your mission to offer an excellent customer experience and to create excellence in everything you do.
Set your business objective to excite your customers by offering excellent customer experiences and make your customers talk about you and your business.
Comprehensively know and understand who your target customers are.
Comprehensively understand what their wants, needs and desires are.
Comprehensively know and understand who your target competitors are.
Comprehensively understand the products offered by your competitors, including the quality, the customer service, customer experience and prices.
Comprehensively understand how to be much better than your competitors.
Fully understand the products you need to offer.
Fully understand the quality, the customer service, customer experience and prices you need to offer.
Create a full and detailed plan of how to deliver your customer experience. Have a customer experience plan.
Execute your plan and continually monitor its success.
Talk to your customers and create a strong lasting relationship.
Appraise and monitor the views of your customers with regard to their customer experience.
Make any adjustments where needed.

This Can Be Done For Any Business

If you want to give your business a boost, decide first that you will make it your mission to offer an excellent customer experience and set yourself the objective of always exciting your customers and making them tell others about you through ‘word of mouth’.

Then, you should start thinking about your customer experience, appraise what you do presently and see where you can make improvements.

Ask yourself if you really understand your customers, your competitors and the trading market and whether you really understand how to satisfy your customer's needs. You should talk to your customers and ask them candidly what their view of their experience is and how it could be improved.

You should analyse every point at which your customers come into contact with your business and appraise whether the experience is one of excellence.

When you can see to make improvements, you must do so.

Then if your improvements are right for your business, you should see a corresponding gain in the fortunes of your business success over time.

Businesses That Prioritise Customer Service Always Do Better

Almost without exception, the businesses that prioritise their customer experience and succeed in delivering an excellent customer experience, in the eyes of the customer, are always able to grow their customer numbers, sales and profits.

I see it time and time again.

Conversely, when a business struggles, the reason is often a poor customer experience leading to poor customer engagement.

You Should Never Have To Search Hard For Customers Again

Once your improvements start to work, you should see customer loyalty grow with customers returning to buy more from you. As these customers tell others, ‘word of mouth’ should boost your customer numbers, your sales and profits and reduce your need to spend on your marketing.

Start Thinking Today About Your Customer Experience

Start thinking today about the customer experience you offer and make it your mission to offer an excellent customer experience and to create excellence in everything you do.

Then, think how you can make your customers happy and excited.

But also think that you can replicate this in your business to a high success, too.

If you would like to talk to me about delivering customer experience and to learn more about the methods I have used, then please email me at: robert @prestigebusinesscoaching.co.uk or please contact me below using my contact form.

I would love to help you to boost your business.

Are You Shackled By Your Business?

Posted on 30th October 20173rd March 2018 by Robert

Are You Shackled By Your Business?

Are You Trapped By Your Business?

Are You Working Too Many Hours?

Do You Have A Poor Work To Life Ratio?

If you can answer "Yes" to any of these question, you should really read this article.

Several weekends ago, my son arranged for us to join a group on a brewery tour of a successful family brewery in Wiltshire.

I am an ex brewer and in one of my former lives, I ran a very successful microbrewery before selling in 2001. He knew I would enjoy it and I did; it was a great day touring the brewery and seeing how this particular company brewed their beer.

The reason for this article is not to tell you about the family brewery – although I might well do that at a later stage – but to tell you about the small hotel, I stayed in for the weekend whist visiting the brewery.

The brewery was located in a lovely small market town and I booked two nights in one of the several hotels in the town. It was the sort of place that I like to stay – several hundred years old, with many of the original historic features. It not only offered accommodation but also had a full bar where you could enjoy a meal and a drink.

The room was very clean and comfortable, and a good hearty breakfast was served each morning of my stay.

But I felt not all was well with this business.

On talking to the lady of the house, she told me the entire place was run by just her and her husband with both working 100 hours per week each and she said they had both done this for the past 20 years.

She said they employed one person, one day per week to clean the hotel rooms; this was their only employment. She qualified this by saying that if she employed more staff, they would have to increase their prices.

Observing her, I also noticed that she obviously had health issues with a poor hip and leg, probably aggravated by the long hours and the physical toll on her body.

The couple knew I was an ex Publican and an ex Brewer but did not know I was also a Business Coach. They did not seek any advice from me nor did I offer any. I sensed that they were conditioned to this way of working and my advice would probably have fallen on deaf ears.

I know from my pub days that running such a business does involve long hours but after 20 years in this business, they should be working much fewer hours, say, 40 but no more.

During my weekend, I observed that many of the other pubs and cafes in the town were much busier than my host couple, obviously serving more drinks and food. Also when I booked my stay, all the quality hotels were full, except for the hotel of my hosts.

While generally being happy with my stay, I would not recommend it to others and I would not choose to return again. The interior while being historic was tired-looking in places, in urgent need of decoration and of general freshening up.

But one major thing that disappointed me was that my room was not cleaned or refreshed in readiness for my second night’s stay – I had never experienced this before and this seriously spoilt the experience, as far as I was concerned. But importantly, I am sure others staying for more than one night would have felt the same; their policy of not employing more staff was certainly a poor policy in this respect and was contributing to the low occupancy rate for their hotel rooms.

This Couple Are Trapped In Their Business

This couple are trapped within their business, unable to reduce their hours, risking their health and giving them a poor life to work balance.

They are living to work.

The lady of the house said that employing more staff would mean them increasing their prices.

She was very wrong saying this.

They were probably both working to their full capacity, but I could see from the other similar business in the town, they could probably easily double their bar and hotel trade.

This extra trade and gross profit would allow them to afford to employ more staff without increasing their prices. And, the extra staff would allow them to reduce their hours and to give them a better life/work balance.

Long Hours Are Sometimes Necessary In Many Businesses

Long hours are very necessary in many businesses, particularly in the start-up phase, say for the first couple of years, but no business owner should be working long hours after 20 years.

Working long hours for many years is very damaging to health and should be avoided.

Over the past 30 plus years, I have seen many businesses like this one. This couple, sadly, are not unique.

Many businesses in this situation simply do not have the time to think about how they can change things. And, even if they could see how to make the right changes, they are probably too tired to make the changes.

Also, confidence can be an issue – many business owners do not like to make changes in case they don’t work. They are fearful that making changes could worsen their situation not better it.

Many such businesses have low profits and low profitability and the owners are not prepared to risk lowering their profits still further by making the changes.

Changes Are Possible

If you are a business owner who is similarly trapped by his or her business, it is possible to remedy the situation and here is some good advice:

1. Firstly, you must allocate some quality time out of your busy schedule for some regular, quality thinking. The brain works much better when it is not tired and not stressed so choose the right time of day when your thinking will be most effective. You should also make this thinking a daily habit.

2. Being able to afford more help with your business relies on the ability to increase your sales, your profits and your customer numbers. As part of your thinking, you must research your trading market to assess how much all three can be increased.

3. You should look at your products and your offerings to assess whether these are what your target customers really want and whether you can make improvements. A good way to do this is to ask your customers what their views are and to look at the offerings of your competitors.

4. You should look at the customer experience, derived from your products and offerings and assess how good this is. In a highly competitive market, your objective should be for an excellent customer experience.

5. Overall customer satisfaction is the ultimate barometer for the performance of your business. You should ask your customers how satisfied they are with your offerings – this should include your actual products, customer service, pricing, ease to purchase, etc. Really every customer contact point should be assessed with the view of optimising your satisfaction rating.

6. Your marketing should be assessed to ensure your target customers see your marketing and understand what you are offering. For marketing to be effective, it has to be a continual process using all the techniques available.

7. Based on your findings, you should assess what action is needed and put this into a very simple, step by step plan.

8. With all changes, you must think that there could initially be increased costs before the extra sales and profits come to fruition. As part of your plan, you should do a rough profit and loss projection for your business incorporating the new changes. Here you should include projections for your new sales, new margin, new costs and likely net profit, etc..

9. Don’t be frightened to ask for advice. Business can be very lonely when you are trying to do something new and on your own. The best source for advice could be from other experienced business owners, business coaches and business mentors. Be careful about advice from friends and family, though.

This is a very rough appraisal of the minimum changes required for a business owner to release the shackles of long hours.

It is very possible to do it, but you need to have the will to do it and to be able to make the time available to think and to effect the changes.

I really fear for the couple running the hotel in Wiltshire; but I also fear that they see no need to change and have no inclination to do so at the moment.

I really hope that their health does not deteriorate massively in the coming years.

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

I would love to hear from you.

For Greater Business Success, Change Your Actions

Posted on 10th October 20173rd March 2018 by Robert

For Greater Business Success, Change Your Actions.

Copy The Ways Of The Most Successful In Business.

In previous articles, I described how to acquire a STRONG POSITIVE BUSINESS MIND, MINDSET and a STRONG POSITIVE ATTITUDE and I described how to use the POWER OF THOUGHT and SMART BUSINESS THINKING to make your thinking more creative.

A strong business mind and smart business thinking jointly will combine to make your ACTIONS within your business become MUCH BETTER.

The Smart Business Actions Are Innovative & Creative

The SMART BUSINESS THINKING of the top 10% entrepreneurs is CREATIVE and INNOVATIVE which means that their SMART BUSINESS ACTIONS are also CREATIVE and INNOVATIVE, too.

Their SMART BUSINESS ACTIONS will always be focused on their CUSTOMER with the aim of continually creating ways to build and maintain an army of loyal and happy customers, who always want to buy their products, keeping them ahead of the competition.

The Top 10% Entrepreneurs Make Decisions

The top 10% of the most successful entrepreneurs make DECISIONS very quickly and they always attach GOALS to each DECISION and create a STRATEGY for implementation. By doing so, each DECISION is EXECUTED QUICKLY and in the RIGHT WAY.

The Top 10% Entrepreneurs Are Achievers & Don’t Procrastinate

Once the top 10% entrepreneurs make a DECISION, it is implemented - they work with URGENCY and don’t DELAY or PROCRASTINATE as they know DELAY is MONEY.

The Top 10% Entrepreneurs Always Measure Progress

The top 10% entrepreneurs always MONITOR and MEASURE PROGRESS with all their SMART BUSINESS ACTIONS. If things are not progressing RIGHT in accordance with their STRATEGY, they are never afraid or slow to change or modify the strategy.

The Top 10% Entrepreneurs Are Always More Organized

The top 10% are always MORE ORGANIZED in their lives and their businesses and this leads to greater EFFICIENCY & EFFECTIVENESS. This means that they can achieve MUCH MORE with less effort and in less time than one of the 90%.

The Top 10% Entrepreneurs Are Usually Less Stressed And More Happy

As a result of being more ORGANIZED and more EFFICIENT, generally the top 10% of the most successful entrepreneurs are less STRESSED and are more HAPPY; and this is important - STRESS and UNHAPPINESS can affect your health significantly. Also HAPPY businesses always trade better and if the boss is happy, then so should the rest of the business be happy, too!

The Top 10% Entrepreneurs Always Have Clear Strategies

The top 10% most successful entrepreneurs always create clear and precise STRATEGIES for the major parts of their businesses:-

UNDERSTANDING THEIR CUSTOMERS & THEIR NEEDS
CREATING THE RIGHT PRODUCTS
SELLING THEIR PRODUCTS
CREATING GREAT CUSTOMER SATISFACTION & EXPERIENCES
COMPETING AGAINST THEIR COMPETITORS
CREATING PROFITS & CASH-FLOW
MARKETING THE BUSINESS AND THE BRAND
HIRING & TRAINING OF STAFF
RUNNING THE BUSINESS

For each STRATEGY, OBJECTIVES will be set as part of their business plan and these will be achieved by the setting and achieving of several GOALS.

The Top 10% Entrepreneurs Research, Understand, Think, Plan & Act

The Top 10% most successful entrepreneurs always RESEARCH everything within their businesses and this leads to a SUPREME UNDERSTANDING of their businesses. Then, through SMART BUSINESS THINKING and SMART PLANNING and the setting of SMART STRATEGIES, they are able to execute SMART BUSINESS ACTIONS.

I call this RUTPA, an acronym for:-

RESEARCH
UNDERSTAND
THINK
PLAN
ACT

RUTPA is a big part of every successful entrepreneurs arsenal and a big contributor to their BUSINESS SUCCESS and YOU should do the same.

This Is A Rough Snapshot

This is a rough snap-shot into how effective SMART BUSINESS ACTIONS can be for driving BUSINESS SUCCESS.

But, it is important to realize that ACTIONS will only be SMART as a result of having acquired a STRONG POSITIVE BUSINESS MIND and a STRONG POSITIVE ATTITUDE and from using the POWER OF THOUGHT and SMART BUSINESS THINKING.

Generally the stronger your BUSINESS MIND and the better your SMART BUSINESS THINKING and the more time that you can devote to it, the better your SMART BUSINESS ACTIONS will be, the the better your business will trade and the greater your business success will be.

Have a STRONG BUSINESS MIND, SMART BUSINESS THINKING and SMART BUSINESS ACTIONS and YOU should over time be able to boost your BUSINESS SUCCESS and enter the '10% CLUB' - the 10% of most successful entrepreneurs.

In short, you should become one of the most successful entrepreneurs.

There Is Plenty More On This Site

There is plenty more on this site regarding SMART BUSINESS ACTIONS.

If you wish to discuss this article further with me, please email me at Robert@prestigebusinesscoaching.co.uk or contact me here:

Have Full Control Of Your Business For Success

Posted on 5th September 20173rd March 2018 by Robert

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.

HAVE SMART BUSINESS THINKING & SMART BUSINESS ACTIONS

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

7 Ways To Achieve A Positive Attitude

Posted on 25th August 20173rd March 2018 by Robert

7 Ways To Achieve A Positive Attitude.

How Strong Is Your Attitude?

Having A Strong Positive Attitude Is Key To Business Success.

When asked, the most successful business people say that a strong, positive attitude has been more important to their success than their ability. Havard Business School has consistently reinforced this view by saying that a strong mental ability is more important than ability for attaining meaningful business success.

So how positive is your mental attitude?

Having a strong, positive attitude can give you much including having strong mental and physical energy, more clarity in your thinking and more creativity in your thinking and your actions. You will also bounce back quicker from set-backs, have a greater influence on everyone in your life, including your customers and your employees and, importantly, be less stressful.

Generally, the more positive that you are, the more successful you will be in your business. The most successful in business often put their success down to their positivity, so if you want similar business success, you have to create greater positivity and develop a strong positive attitude, yourself.

I have found the following 7 simple ways work really well to create and enhance a strong, positive attitude:-

Be optimistic
Kick out negative thoughts
Look to the future
Don’t have problems but have challenges
See the good in everything
Learn from your mistakes
Be grateful for what you have in life

BE OPTIMISTIC

Being OPTIMISTIC is a great boost to POSITIVITY and can come from belief in your own ability to succeed and the confidence to know that you will succeed.

If you have doubts about your success, keep saying to yourself: “I CAN DO THIS.”

KICK OUT NEGATIVE THOUGHTS

If you have doubts in your ability, these are NEGATIVE THOUGHTS and these along with other negative thoughts will diminish how POSITIVITY.

Whenever you have a negative thought enter your mind, you should think to ‘KICK IT OUT’ and replace it with a POSITIVE or a HAPPY thought.

LOOK TO THE FUTURE

You should always look to the future and NOT THINK about the past - what has happened has happened and is the past and worrying about it will deflate your POSITIVITY.

Try thinking about your goals and targets in the future rather than worrying about the past.

DON’T HAVE PROBLEMS

Positive people don’t have problems, instead they have CHALLENGES and rather than thinking: “I can’t do that”, they instead think: “This is going to be difficult, but how is the best way to proceed?”

SEE THE GOOD IN EVERYTHING

Try and think that something GOOD always comes out of something BAD and always try to see the good in everything. Life does not always go to plan and there will be set-backs and you will make mistakes, but don’t dwell on these, instead bounce back quickly and continue to move forward.

You should analyze what went wrong and learn from the situation and don’t repeat the mistake.

LEARN FROM YOUR MISTAKES

Successful people think that failure, set-backs or mistakes are all part of learning and are part of the success process and you must think the same.

Set-backs are there for a reason and you should see the good, positive side in every one. You should think that every mistake or set-back has a lesson for you in how to achieve your business success. You should learn from each and move on.

BE GRATEFUL FOR WHAT YOU HAVE IN LIFE

Many of us are luckier than we possibly think. We often don't stop and take stock of our lives and think about what we have and what we have achieved. This could be family or this could be career, anything really.

It is good to have a vision for your life and for your business ambitions, but too often we concentrate on what we don't have rather than what we do have and that can lead to feeling depressed or negativity.

THESE WAYS DO WORK

These ways to do work:

Be optimistic
Kick out negative thoughts
Look to the future
Don’t have problems but have challenges
See the good in everything
Learn from your mistakes
Be grateful for what you have in life

It takes a short while to develop these ways, but believe me these do work when put together. Just change your thinking to be more positive and you will be surprised how much better you start to feel.

If you would like to talk more about this article with me, please contact me at Robert@prestigebusinesscoaching.co.uk. or contact me here:

Do Your Products Provide The Right Customer Benefits?

Posted on 13th August 20173rd March 2018 by Robert

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 3 Big Questions

There are 3 BIG QUESTIONS that I have always asked myself in all my businesses:

1. 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:-

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

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

3. 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.

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 article more fully with me, then please email me at robert@prestigebusinesscoaching.co.uk or please contact me below:

7 Strong Reasons Why You Should Build A Strong Brand

Posted on 26th July 20173rd March 2018 by Robert

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.

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 contact me here:

How Targeted Is Your Business Marketing?

Posted on 6th July 20173rd March 2018 by Robert

How Targeted Is Your Business Marketing?

Does Your Business Marketing Go Directly To Your Target Customers?

Do Your Target Customers See Your Marketing?

Here are THREE QUESTIONS every business owner should ask themselves about their BUSINESS MARKETING.

If their MARKETING does NOT reach their TARGET CUSTOMERS, business owners cannot tell their TARGET CUSTOMERS about their businesses and their PRODUCTS and if the MARKETING is NOT TARGETED, then this MARKETING is being wasted.

Say, for instance, YOU sell golf clubs and YOU advertise in a local newspaper, the chances are your MARKETING is wasted. Maybe less than 1% of the readers to that newspaper would play golf and would be interested in buying golf clubs.

This form of MARKETING would NOT BE TARGETED - but, it constantly amazes me that this sort of MARKETING is used, when the number of TARGET CUSTOMERS is really small.

Make Your Marketing Targeted

If, instead, YOU were to advertise your golf clubs in a golfing magazine or on a golfing website, your MARKETING would be far more TARGETED, simply because most of the readership would be players of the sport. In this case, there would be a HIGH NUMBER of your TARGET CUSTOMERS seeing your advertisement.

This is TARGETED MARKETING.

The prospects of selling golf clubs to the readers of a golfing magazine are far greater than to the readers of a local newspaper.

Your Target Customers Must See Your Marketing

Whatever your business and whatever your product, your MARKETING must directly reach your TARGET CUSTOMERS, and these TARGET CUSTOMERS must see your MARKETING, for your MARKETING to work.

In other articles, I have said that YOU MUST KNOW AND UNDERSTAND YOUR TARGET CUSTOMERS - by doing this, it should tell YOU WHO YOUR TARGET CUSTOMERS ARE AND HOW TO REACH THEM WITH YOUR MARKETING.

Ask Yourself These 3 Questions

So, stand back and ask yourself the 3 QUESTIONS that I posed at the start to this article;-

How TARGETED is your BUSINESS MARKETING?
Does your BUSINESS MARKETING go directly to your TARGET CUSTOMERS?
Do your TARGET CUSTOMERS see your MARKETING?

Better More Target Business Marketing Will Mean Greater Business Success

Businesses that target their customers better always see greater sales, greater profits and greater business success.

Always!

Think Differently About Your Marketing

Whether you are an established business or you are starting a business, make sure you get your Business Marketing Right

HAVE SMART BUSINESS THINKING AND SMART BUSINESS ACTIONS

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