Archive for the 'Strategy' Category

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Are you in the entrepreneurial jail?

One of the sad things I see in my line of work as The Exponential Growth Strategist is business owners who are slaves to their business and won’t admit to themselves.

They put up appearances and “posture” when I meet them, claiming they are decisive and “in charge”, but just a little probing reveals the truth.

They are working for their employees and not the other way around.

Now don’t get me wrong. Great employees are fantastic, but toxic employees are a life-threatening, profit killing cancer to a small business.

I put together a quick quiz you can take to determine if you’re in the entrepreneurial jail or not.

Are You Really In Charge? Problem Employees, Bad Employees

Yes = 1, No= 0, Not Sure = 0

Total your points and let’s see how you measure up:

If you scored 1, 2, or 3: You’re on death row
You know there’s very little hope for freedom unless you make dramatic changes.

If you scored 3, 4 or 5: You’re got a life sentence with a chance of parole
You have a job with tax benefits and poor working conditions.

If you scored 5, 6 or 7: You’re on parole.
Like most business owners, you like to think you’re the boss, but you realise your personal life and schedule revolves around your staff showing up physically and “mentally” to get the job done.

If you scored 8, 9 or 10: You’re Free!
Y
ou’re in control and happy to be master of your own destiny. You are the exception to the rule. Well done!

If you scored 0, you know you’re taking your last breath, time has run out and all the appeals have been used. It’s over.

Entrepreneur: Defined

Entrepreneur, EntrepreneurshipWhen I did my coursework for my Ph.D. in Business Administration, one of the things that initially surprised me was how academics couldn’t agree on seemingly simple definitions for terms such as Entrepreneur or Family Business.

I quickly realised that the definition of the word, theme or concept determines HOW you’re going to study or research it, so it becomes a circular argument that creates a lot of academic debate – most of it beneficial and some frankly wasteful and redundant.

That’s why, when I recently came across the definition of an entrepreneur by Howard Stevenson – one of the field’s most prominent researchers, I thought it worthy of sharing with you even though it was conceived almost 40 years ago.

It’s a timeless definition that might take some reflection to fully appreciate.

” Entrepreneurship is the pursuit of opportunity
without regard to resources currently controlled.”

Too many people associate entrepreneurs with risk taking. Entrepreneur don’t get  up in the morning saying “Where’s the most risk in today’s economy and how can I get some?”

With this definition that focused on entrepreneurship as a process, Stevenson’s definition opened the term to all kinds of people. Plus, it matched the one demographic fact Harvard Business School researchers already knew about entrepreneurs—they were more likely to start out poor than rich.

“They see an opportunity and don’t feel constrained from pursuing it because they lack resources,” explains Stevenson. “They’re used to making do without resources.”

The perception of opportunity in the absence of resources helps explain much of what differentiates entrepreneurial leadership from that of corporate administrators: the emphasis on team rather than hierarchy, fast decisions rather than deliberation, and equity rather than cash compensation.

What would you expect, asks Stevenson “When you don’t have the cash to boss people around, like in a corporation, you have to create a more horizontal organization. You hire people who want what you have and not what you don’t have.”

In other words, entrepreneurs offer their team members a larger share of a vision for a future payoff, rather than a smaller share of the meager resources at hand.

When you really think about it, opportunity is the only real resource small (startup) businesses have.

Give it some thought – after all the brightest and sharpest minds are still grappling with this and other definitions…

If you find others that are worth sharing, please share by placing a comment below!

Strategy Versus Tactics

Business Coaching, Business Mentor, Business Coach, Business MentoringWe have all heard the expression “you need to work ON your business instead of IN it…

Easier said than done.

In fact, for most owner operators, it’s a transition they can never make.

The reason is simple: The personality traits that got them to go INTO business are exactly the ones that will keep them chained to the business, day in, day out.

Those personality traits create behaviours and habits that unfortunately most entrepreneurs can’t break. Sorry to be so pessimistic. It’s just the way it is.

Are you wondering if you’re one of the FEW who can make the transition?

If you are, you need to be:

  • Open minded
  • Flexible
  • Self aware

Otherwise you’re kidding yourself and will waste a lot of time money and effort on trying to change something that’s not going to change – YOU.

If you’re stubborn, intractable and think you’ve got it all figured out – “goodonya mate”. You’re all set and have “no worries”. She’ll be right mate.

If you’re open minded, flexible and self aware and want to work ON your business to grow it with less effort, have a look at my coaching and mentoring philosophy page. If it resonates with you, then contact us.

Is Growing Your Business One Of Your New Year’s Resolutions?


There is no doubt about it, New Year’s Resolutions are a powerful tool to achieve goals, yet only a few follow up and follow through on their resolutions..*

Why is that?

One simple reason is that most people forget that decisions are made every minute of every day and they add up at the end of the week/month/year. Non-decisions are the same – the decision NOT made to put your runners on to go for a run. The decision NOT to turn down the (extra) piece of pie. The decision NOT to get up early.

“It is in the moments of INdecision
that dreams are destroyed.”

– Dr Marc Dussault

If you made a list of New Year’s Resolutions for 2012 – take them out right now and re-commit yourself to following through.

If you’re not motivated – the problem is you have impotent goals and dreams.

You need something that will MOTIVATE, INSPIRE and MOVE YOU TO ACTION.

Pick something exciting, but within the realm of possibility – something you can really get enthused about – something that would CHANGE you and your life.

I know too many “people who end up where they don’t want to be” simply through lack of planning and commitment.

No decision IS a decision – it’s the worst one of all – one made by someone else for all the wrong reasons.

There is no joy in living a life by default. To live a life by design, you need to know what YOU want and desire.

You decide.

By NOT deciding, all you’re doing is letting yourself down – no one cares that you don’t make a decision. That’s why it’s so easy.

One day leads to a week then to a month and before you know it, another year has passed.

If you get lulled into complacency, a whole decade can pass you buy.

That’s tragic.

Don’t just sit there – do something!

Anything! If you didn’t create a list of New Year’s Resolutions – do it now!

JanusNew Year’s Resolutions… they are aspirational, yet often vague and almost always corrective. People promise to spend more time with family, get fit, lose weight, quit smoking, reduce debt, consume less alcohol… yet just end up cataloguing the failings of the past year. As with most customs, New Year’s Resolutions are observed in gesture only, not followed up nor followed through. It’s a reflexive act rather than one of resolution or commitment.

People have been making New Year’s Resolutions since the time of ancient Rome, when the Julian Calendar was adopted in 45 BC. January 1 was introduced as the first day of the year after the Roman God, Janus (pictured left). Janus was the God of beginnings and endings, represented with two faces looking toward the future as well as the past.

Romans, believing that the gods witnessed the failures and shortcomings of the past year made promises to rectify the situation in the next year ahead.

Not surprisingly, 88 percent of New Year’s Resolutions fail.

One of the reasons is that people tend to make the same ones over and over and over again without conviction or belief they can really change. Statistically, it takes up to 10 attempts to change which is well beyond most people’s attention span let alone level of discipline to make the change a reality.

Alarmingly, research shows that 25% of 1 out of every 4 people give up in the first WEEK.

Most people, quizzed today would not even be able to list all of their New Year’s Resolutions… and we’re not even at the end of January!

So why is the prognosis so poor? One reason is that success is limited, yet most people (wrongly) believe it is achievable (when statistically it’s not – only 1 person can win a Gold Medal amongst hundreds of competitors).

Take quitting smoking as an example: It takes 6 to 12 attempts to stop smoking. One survey in 2008 reported that only 11%, 1 out of 9, people who set that as a New Year’s Resolution achieved their goal and stopped smoking.

There is hope – people who did achieve their New Year’s Resolutions did so, on average after 6 attempts.

To achieve your New Year’s Resolutions, you need a plan, simple as that. Ideally, you write a PLEDGE to yourself and you marshal help from others close to you who can help you.

For example, if you want to get fit, get a buddy to walk or run with you, play a sport… If you want to lose weight, have family members help by reducing fatty or high calorie foods in your meals.

Without a plan, nothing’s going to change.
The odds are stacked against you.

Of course as you’d expect, there is a way to stack the odds in your favour… CLICK HERE -> To Make Next Year Your Best Year Ever.

New Year’s Resolutions are one of the easiest ways to set the wheels of success in motion. They can be the catalyst to create your ultimate dream destiny…


“What if…”

What if… your childhood dreams actually came true…

What if… you could wave a magic wand and get anything you want…

What if… you could rub Aladdin’s Lamp and get any 3 wishes granted…

What if…

Those are two very powerful words.

Here’s the thing.

Some people get what they want while others don’t.

  • It’s infuriating to know someone dumber than you is out-performing you in business or school.
  • It’s aggravating to have someone less physically capable beat you at your favorite sport.
  • It’s perplexing to see someone who started with less money than you build a ‘fortune’ that allows them to have the luxurious, stress-free lifestyle you’d like to have.

What if… you could learn how to accomplish all your goals?

What if… it took less than 5 minutes a week to implement?

What if… the strategies were proven and tested?

What if… they cost LESS than going to McDonald’s?

Just let yourself imagine those words.

Let your thoughts wander.

New Year's Resolutions, Resolutions, Wish List, Dream List, Vision Board

Listen to what you would say in the privacy of your own mind.

Feel what it would be like to have those things most important to you.

What if… You believed it was possible.

What if… You learned the strategies, techniques and tips you need.

What if… You applied them, one day at a time.

What if… You achieved one goal, then another, then another.

How different would your life be?

How much more could you do and contribute to others?

What if… you had a system to make them all come true?

What if… I gave you the link – would you make 2012 your best year ever?

Why not give yourself this gift?

* This is why New Year’s Resolutions are so important to me…

At first, I didn’t buy into the whole New Year’s Resolution ‘propaganda’. Like most people, I was skeptical, cynical and thought it was all rubbish.

Then I met someone who explained that New Year’s Resolutions only work if you believe they do.

That changed everything.

I promised myself I would only pick the top 10 New Year’s Resolutions I believed I could accomplish and really wanted.

My life changed – literally from that moment on.

As I explain in My Best Year Ever Program page – the results speak for themselves, but something you need to know is that it’s a process, a system for me. It’s not just a to do list.

Nothing with me is superficial.

The process I share with you in the My Best Year Ever Program is what I use every single year – religiously WITHOUT EXCEPTION.

I look forward to it BECAUSE I know I can craft my new destiny, my new life.

One of my recent resolutions I can share with you was writing the lyrics for and ‘producing’ my rap album- Curve-A-Ceous.

It was one of the highlights of the year for me. I never dreamt of being a rockstar, but I was always curious about the creative aspect of song writing, producing and performing.

I perform every time I get on stage for my events and workshops, but this was a much more artistically creative endeavour.

Something totally outside my comfort zone.

Something totally different.

It was exhilarating to do.

The reason I share this with you is because life is to be lived to its fullest extent.

Steve Jobs was the epitome of this philosophy.

But so many people – too many people – don’t know where to start.

As per my 1 Percent Improvement Doctrine, I believe in small steps on the path to your ultimate destiny, keeping in mind that…

The journey IS the destination.

With New Year’s Resolutions it’s easy and with my program priced at $20.12 it’s a bargain.

It’s my gift to you because it’s one of the most powerful techniques I’ve used and continue to use to craft the life I have – “continuing to live my dream and empowering others to discover and live theirs”.

What’s the alternative?

You don’t do anything – you let things ‘happen’.

There are two kinds of people:
People who make things happen
and those that things happen to

Simple as that – you are either one or the other.

Sorry to be so blunt, but it’s true.

You know it, I know it.

Now it’s time for you to do something about it.

Psst! I want to share something else with you…

This is the end of January and you’d be amazed at how many people think they missed the opportunity to do their New Year’s Resolutions…

That’s typical of people’s limiting beliefs and why my Best year Ever Program is a rolling 52-week program that starts on DAY ONE.

This is the first day of the rest of your life…

I know MOST people don’t see things “this way”…

They are oblivious to the realisations and life-changing epiphanies that are there to be had.

As a PREMIUM CONTENT subscriber, I know you’re not one of these… “MOST PEOPLE”.

The reason MOST PEOPLE are this way is due to IGNORANCE and LACK OF FAITH/BELIEF/CONVICTION.

First is ignorance – they don’t know. They are not subscribed to the PREMIUM CONTENT and no one’s having this heart-to-heart with them.

Second, they don’t have the belief in themselves. They’ve been beaten down and have essentially given up.

It’s the saddest thing I see in ‘my line of work’ – to see someone give up on themselves.

It’s heartbreaking.

Years ago, I would champion the power of the human spirit.

Now, I don’t bother.

I focus on people who believe and WANT more – more joy, happiness, wealth, success and abundance.

Welcome to my world of Exponential Mindset Thinking!

If you come across anyone who is deserving and needs a nudge in the right direction, you could make the investment in THEM and subscribe them to the My Best Year Ever – Imagine how their lives could be transformed.

Now you’ll feel what I feel when I know someone’s engaged and involved in creating their ultimate destiny!

Pay it forward and reap the benefits for a lifetime!

Onward and upward!
Marc

Protect Your Startup With Insurance

Protect Your Startup With Insurance

Determining the right business insurance for your startup business requires careful analysis and thoughtful reflection.

With the proper investment of time and effort, you can figure out the most essential insurance products for your particular situation. As a matter of principle, you should review your needs with an experienced insurance representative so you can tap into his/her expertise and experience.

Business Coaching, Business Coach, Business MentorFirst, as a business owner, you need to accept you need insurance. The question is what kind?

You have to consider all of the aspects of your business activities to make sure you get the proper and adequate coverage. One way to make sure you do that properly is to have a detailed business plan.

Writing every past, current, and future task down in a business plan is necessary so you can quickly and easily explain what your business does to a complete stranger – the insurance representative.

Your business plan can consist of one page or dozens of pages but the business’ activities have to be clearly laid out so the company’s risks are brought to the surface.

For example,

  • Businesses that own property will require property insurance protection.
  • Even if you rent or lease your premises, you may be liable for other people’s property and need appropriate insurance. This includes leasehold items as well as plant and equipment purchased or leased from third party suppliers.
  • Since you use computers you need to consider special computer insurance (theft, vandalism).
  • Auto liability insurance is made for people who rent, lease or own cars in the name of the business.
  • Of course there is also workers compensation insurance to protect the well-being of employees.
  • One of the least well understood types of insurance is business income insurance for business people who do not have the cash flow or personal wealth to keep a business in operation should there be an interruption in business activity. It’s a form of disability insurance for the owner or key person in the business.
  • Then there’s general liability insurance needed for people who develop and sell products. Products or services that could inflict physical or psychological damage on a person should be covered by liability insurance in the case of a lawsuit. It’s also called professional liability insurance wherein specific professions and trades have detailed provisions, guidelines and/or regulations stipulating the minimum coverage required by law.

If you’re getting a little overwhelmed by all this – don’t despair. That’s what an insurance professional does for a living – make sense of all the options and possibilities to make sure you have enough coverage for your level of activity and risk profile.

Running a successful business always involves insurance. As the dictum goes, “expect the best, but plan for the worst”.

Any responsible business executive or entrepreneur who needs assistance can contact businessinsurance.org for a collection of reliable business insurance quotes.

No one can predict the future which is why insurance is so important and necessary.

Even the most prepared company can suffer from any number of emergencies at a moment’s notice – insurance is designed to provide peace of mind and financial protection and compensation should anything adverse happen.

Why Success Gets Harder For “Most” Entrepreneurs

Have you ever wondered why success gets harder as you become more successful?

It’s because of your opportunity costs that keep rising as you get more and more successful mixed with a short term focus on “making deals” and taking care of emergencies instead of working “on” the business…

It’s quite a dilemma that paralyses many entrepreneurs. They know they could do better, but remain stuck in the Vortex Of Mediocrity™.

So how do you break out of this stranglehold?

Simple – MAKE time to get away from the business. It can be a long weekend or ideally a whole week. PLAN for it so you’re not stressed and you don’t cheat.

Remove yourself COMPLETELY from the day-to-day pressures and DISCONNECT completely.

Then ask yourself the following questions:

  • If I was to start over again, what would I do differently? What would I change?
  • If I was a competitor, how would I exploit me/us?
  • What are we really good at?
  • What could we be really good at (or better at)?
  • If I knew I could not fail, what would I try?
  • What is the #1 complaint of the industry/marketplace that I can solve?\
  • What am I not doing that I should be doing?

You can’t have the thoughts to start to answer these questions while you’re knee deep in the intellectual quicksand of day-to-day operations.

You need distance.

You need your personal journal (you might even give MindMapping a go!)

You need to do this otherwise you’ll stagnate.

I do this exercise every year at Christmas time which conveniently coincides with my New Year’s Resolutions.

If you have a business trip planned, consider extending it by a day or two and take those unfamiliar surroundings to start the process. Once your business is done – check out of THAT hotel and check into another one t0 completely shift your mindset. I mean it. Pick a hotel near the beach, mountains or go upscale or totally rough and tough.

Make sure there is CONTRAST so that your brain registers the new impulses.

It’s necessary to jolt your system into a new realm, to get a new perspective.

Give it a go and see what happens!

Give and you shall receive… licks

Even though I don’t own a dog, I love em! I especially enjoy visiting Paddington Pups as you can see below. I mean c’mon – life doesn’t get any better than spending it with happy, playful puppiess and dogs who love you unconditionally.

Paddington Pups is raising money and awareness for the Millan Foundation setup up by world renowned dog whisperer, Cesar Millan to provide financial support for animal shelters and groups engaged in the rescuing, rehabilitation and re-homing of abused and abandoned dogs.

Locals are invited to bring their puppies pooches for a $10 hydrobath tomorrow from 10 AM to 1 PM in Milton / Paddington (Brisbane) Queensland. All the money raised will be donated to the Millan Foundation and passed on to the RSPCA shelter at Wacol.

It gets better.

Anyone who has their dog washed will go into a draw
to win two tickets (valued at $290) to see
Cesar Millan Live at the Brisbane Entertainment Centre
Thursday November 17 – courtesy of Paddington Pups!

The reason I’m blogging about this is because Paddington Pups is not just a doggy day care. It’s owner, Bree Robbins cares about her clients – dogs (and their owners). She makes sure her team takes a proactive role in community based activities as part of their holistic approach to dog care and education.

As I blogged about previously on the Paddington Pups blog, there is a lot to be learned from The Dog Whisperer, but if you want to grow your business, you also need to learn to give back to the community because it’ll come back to you tens time over.

Don’t do it to get something back – pay it forward and let the ripple of positivity make it’s way through ‘the universe’.

If we all do our share, this will be a much better place for all – INCLUDING dogs and puppies!

Act as the business you want to be

If you want the genesis of this concept, watch Steve Job’s Commencement Address To Stanford University Graduates in 2005 shown below.

Listen to one of our Platinum Program Members
who explains this philosophy in his own words:

When we started, we were aiming to assist smaller businesses, those with less
than 20 employees.  This is because 55% of all employment income in this
country is paid by those businesses.  The multinationals only provide 2%.

So wanting to help Australia be a more prosperous and competitive economy
meant helping those smaller businesses to really become successful,
particularly in export markets.

So we started as a small, lower cost base business able to serve smaller
clients cost effectively.  Since then I have grown less enamoured with this
position over time.  There is a reason companies remain small.  Sometimes it
is because that is what they want.  Less.  Less is easier and can involve
reduced risk, though not always.  But often it is because they don’t have
the mindset, skill or vision to be anything else.

It is clear that for us to grow, I have to have the resources to do more work
and the income to pay for those resources.  So our business model doesn’t
scale if we want to move up in size.  Particularly with the type of clients we
have generally been working with.

This year I’m thinking about how to take what we are doing and push it past
the $1,000,000 mark.  So what I’ve started doing is pricing our quotes as if
we already were that size.  Sometimes this means the price is double what it
might have previously been.  But I’m also looking at the delivery side and
making sure it also looks like it should for the size of business I want to
be.

And it is working!  We are changing.  We are looking at moving to commercial
premises before the end of the financial year.  A new class of clients are
being attracted to us (and us to them) because our value proposition makes
sense to them.  Some of these clients are larger than our previous target
companies.  Some are wanting to grow and know they need the right
partnerships to get there.  There is a long way to go yet but the progress
is encouraging.

So my distinction is a simple one.  Start acting like who and what you want
to be.  Don’t wait for the growth and then respond.  Change first.  Be the
catalyst yourself.  Make it happen first in you and then it will flow out to
the rest of the world.

Steve Jobs would be proud.

How To Add Value To Your Clients

Exponential Marketing has a cornerstone concept: Add value to your clients and they will come back and refer more clients to you. Easier said than done.

That’s why I’ve included a simple example: An Australia Post Postcard Fact Sheet that helps clients prepare their documents for direct mail.

The question for YOU is “What basic information, like this can you make available to your clients?”

The more information you make available, the easier it will be for them to do business with you = you’ll sell more.

When you’re exponential, you create Pathways To Profits™ that guide people through the path of least resistance preemptively, smoothly, creating a memorable and hopefully unique experience they will want to repeat themselves and advocate to others.

This is what we help our clients do – create a Business Building Blueprint™ that summarises these processes so everyone in the business knows what to do and ideally, automate them leveraging the Internet so the business transforms from an effort-based model to a value-based model.

Belief Builders and Credibility Creators

There is a four step process everyone goes through as they make a purchase.

  1. Consider – Before anyone makes a decision, they must consider this opportunity. Most salespeople skip this step to their detriment.
  2. Decision – This is when the ‘sale’ takes place. However, most ineffective salespeople skip the consideration stage and try to force the decision that was never even considered.
  3. Commit – Without a commitment, a sale is not a sale. As many as 20 to 40% of sales are lost due to a lack of commitment requested of the purchaser.
  4. Resolve – Making sure the commitment is followed up and followed through to its conclusion to ensure the sales is completed. Up to 10% of sales are left unattended and therefore lost.

Consider – or lack thereof is the number one source of lost sales, by a long shot. Anecdotally, as many as 4 out 5 sales are lost because the prospects never considered the offer being presented in the first place. Without it, there is no decision to be made.

So how does one go about having people consider their offer or proposal? Continue reading ‘Belief Builders and Credibility Creators’

Antimimeticisomorphism

Antimimetic isomorphism, Anti mimetic iso morphism, mimetic isomorphismWhat the heck is antimimeticisomorphism?!?!

Simply stated, it’s the opposite of mimetic isomorphism – an academic term that explains what we all know to be true. “Monkey see, monkey do.”

As industries mature, competitors increasingly use the same strategies and techniques to market, sell and deliver their products – in effect commoditising them.

Antimimeticisomorphism means doing the opposite.

Not just to be different, but to be special, out-of-the-ordinary with a PURPOSE.

Because it’s a mindset, it takes time to adopt the ability to see and create boundless opportunities and uncover hidden assets within your business, career or life.

It’s what makes the super successful and ultra wealthy who they are.

EXTRA-ORDINARY.

Because the alternative is – well ORDINARY.

Want to learn more about antimimeticisomorphism?

You can Google it and you’ll find thousands of listings – all pointing to me.

I have two websites dedicated to antimimeticisomorphism, the first is the site that explains antimimeticisomorphism and the second are examples of antimimeticisomorphism.

On my Personal Coaching Blog, I have a whole category of antimimeticisomorphism examples.

As you can see, this is a foundational element of my Exponential Coaching Philosophy.

Have a look around and enjoy the discovery process – you’ll quickly realise that the more fun you have, the better your results will be!

Business Coaching Metaphor: Dominate The T Not Your Competitor

Today’s blog post is an extension of one of my most popular products called Squash Lessons For Marketing. As a business coach, I mentor business people who are very ambitious and think their #1 goal is to beat their competitors. Using the squash analogy of dominating the T instead of your competitor is the difference between a good player and a top grade “champion”. When you dominate the T in squash, you’ll win the game regardless of the competitor. It’s that simple.

In business it’s the same thing – by dominating the T, it doesn’t matter WHO you’re up against, you will win. That is much better than having tricks up your sleeve to beat ONE opponent because you know his/her weaknesses. That doesn’t help you one bit when you come up to the next competitor!

Think about it.

That’s what this blog is all about – getting you to THINK about what you’re doing and not doing. If you’d like me to become your business mentor, contact me at your convenience and we’ll see if you’re up to joining my team of Platinum Program members – we/they play like champions by focusing on IMPROVEMENT rather than just winning.

Family Business Succession

A recent study of Family Businesses revealed that Australia’s ageing family business owners have a big problem. According to new research on the family business sector, 45% are actively planning to sell their businesses and 61.3% would seriously consider selling now. On top of this, 25.2% of family firms say they have been approached regarding a sale in the last 12 months. There is just one problem – these business owners, who control a large chunk of Australia’s $1.6 trillion family business sector, are simply unlikely to get enough from the sale to fund their retirement. To read more about this, please go to the original article “No exit for family business” that was sent to me by electronics expert Ray Keefe of Successful Endeavours in Melbourne.

$5,000 Guaranteed In The Next 12 Months

We’ve all heard of the classic money back guarantee, but where else have you heard of someone guaranteeing results? That’s exactly what we’re doing for our next 2 programs – Etch-A-Sketch Thinking In The iPad Age and Become The Next Corporate Rockstar.

Exponential Programs - Etch-A-Sketch IconEveryone gets to a point where they run out of fresh new ideas. What if there was a way to always have ideas ready to be deployed? What if these strategies were proven to work? How about is they were GUARANTEED to work?

That’s the premise of this unique event. We’re GUARANTEEING that you will produce at least $5,000 in the next 12 months as a result of attending the program. There is no legal fine print, no strings attached.

We can and are putting our money where our mouth is. No hype. No exaggerations. No smoke and mirrors. A simple iron-clad Results-Based Guarantee.

You can click on the image or this hyperlink > Etch-A-Sketch Thinking In The iPad Age. When all is said and done, if we’re willing to GUARANTEE $5,000 in the next 12 months, you can only imagine how much we expect you to make!

Get More For Your Business

With millions of baby boomers nearing retirement, thousands of businesses are about to be put up for sale in the next few years, which could result in an oversupply, forcing the price of businesses down. In a previous post, I discussed the impact on family businesses. The situation could possibly escalate to the point where some businesses end up closing up shop because they are unable to get a good price for their life’s blood, sweat and tears.

Small business owners should start planning at least three years before retirement to get the best possible price for a business. This is to ensure profitability is satisfactory, the risks that can be mitigated are addressed for the future owner and most importantly, the tax implications of a sale are properly considered and planned for.

5 Tips “How to get the top price for your business”

  1. Understand HOW your business will be valued by the buyer(s). Business owners notorioulsy have an inflated view of what their business is worth, but an operating business is typically valued by applying a multiple to the earnings achieved by that business where past results are a guide to future earnings, with the multiple representing the perceived risk in the business. This is easier said than done. In our Business Mastery Platinum Program, we’ve shown people how to ensure this is done methodically and systematically – WITHOUT hiring an expensive business broker.
  2. Look at it from the buyer’s POINT OF VIEW. All buyers are cautious and seek to assess the likely future levels of profitability and how much risk will be taken on to achieve that profitability. It’s often beneficial to engage a third party, such as an accounting firm, to undertake an assessment and valuation of your business. Ideally, they should act as if they are acting for a potential buyer with all the apprehension, doubt and cynicism that involves. This process helps determine readiness for sale by identifying issues which, if rectified, will increase the value of the business for sale. I don’t suggest you use a business broker to do this – remember his/her vested interest is to lure you into selling AT ANY PRICE so he/she gets a commission!
  3. Identify risks to your future profitability. This is called Sensitivity analysis is the study of how the variation (uncertainty) in the output of a mathematical model can be apportioned, qualitatively or quantitatively, to different sources of variation in the input of the model. Put another way, it is a technique for systematically changing parameters in a model to determine the effects of such changes. That mathematical model is what I call Management By Metrics™ that are derived from your Pathways To Profits™. Typical risks you need to include are shown below. If not rectified, these factors could have a significant impact on the value of the business.
  • Dependence on a few key customers and suppliers,
  • Revenue streams not protected by contracts,
  • Intellectual property which has not been protected,
  • Insufficient diversification of products or services and
  • Dependence on key employees who are not locked in.

4. Can the business operate without you? Most small business owners are very hands-on in their business. They hold all the key relationships with customers and suppliers, hire and fire all the staff, control the finances and set strategy. An owner-centric business will not be attractive to a buyer because the risk to future profitability after the owner’s departure is too great. While there is some value and risk reduction in key employees holding some of the key relationships, this is what I call building a business no one wants to buy. With enough time, you can properly structure the business to transfer those key relationships to key employees which brings us to the last point.

5. Consider KEY employees in your exit and sale of the business. Retention of key staff is paramount for a new owner. This reduces the risk and flows on to an increase in the value of the business for obvious reasons. It’s important to communicate any exit or business sale plans with key staff as early as possible to gain their support and avoid any unexpected surprises. Ensuring that staff transferring to the new owner are looked after will assist in any transition and enhance the value of the business. Who knows, existing key staff might be prospective buyers of the business! “People buying a business are looking for traps or hidden risks. The quality of the information you provide to a prospective buyer  about your business must be truthful and fully transparent. You have to be able to provide a credible answer as to why you are selling, be prepared to be restrained from acting in competition to the purchaser among several other considerations.

If you get started now, documenting your Management By Metrics™ and Pathways To Profits™, you’ll not only substantially increase the value of your business, you’ll attract more buyers, potentially eliminating the need to deal with an expensive business broker.

With C.K. Prahalad’s Passing, The World Loses A Great Thought Leader

COIMBATORE KRISHNARAO PRAHALAD, universally known as C.K., was the most creative management thinker of his generation. He revolutionised thinking on two big subjects, business strategy and economic development, and made a significant contribution to a third, innovation. His admirers were legion, including bosses of some of the world’s biggest companies, heads of NGOs and founders of scrappy start-ups, not to mention MBA students the world over including yours truly.

Mr Prahalad burst onto the management scene with two path-breaking articles in the Harvard Business Review, “Strategic Intent” (1989) and “The Core Competence of the Corporation” (1990), and a bestselling book, “Competing for the Future” (1996), all co-written with his former pupil, Gary Hamel. “Core competence” remains one of the most frequently reprinted articles ever published by Harvard Business Review.

Click the URL to read the Economist Magazine’s summary of his stellar career and contribution to management thinking.

C K PrahaladIf you have never heard of C.K. Prahalad, it’s a shame because he’s given countless entrepreneurs the ‘keys to the vault’ – I integrate his teachings and methodologies within my Platinum Program curriculum.

I will be revealing some of my secret strategies at an upcoming series of events in Brisbane, Melbourne and Sydney, I call it the Exponential Extravaganza because of the smorgasbord of stuff that I’m going to include… It’s the only chance you can get exposure to what and how I can guarantee RESULTS for my top clients.

I actually guarantee that for every $1 invested, my clients will make $3. I can’t do that unless my strategies work. They work because I not only learn stuff that most people never come across, but I APPLY what I learn in real-life situations. To learn more, come to the Exponential Extravaganza.

Institutional Advertising Versus Call To Action Marketing

A lot of people ask me what the difference is between institutional advertising and call to action marketing. Simply put, institutional advertising is brand building and is only recommended when you have MILLIONS or BILLIONS in your marketing budget.

Call to action marketing I don’t even call it advertising because it’s unilaterally focused on getting suspects to convert into prospects (take an action to show their interest in your product/service/offer) or prospects into clients (give you their money).

A friend of mine, Andrew Powell of Montreal, Canada asked me this outstanding question with the added twist that his company, Bogdon & Gross Furniture has been building furniture for over 80 years, using the tagline “Handcrafting your dreams since 1927″ and the e-mail signature “Canadian manufacturer of solid, hardwood furniture and supplier of Koosh ® mattresses – the world’s first high resiliency, soy-based foam Mattress.”

So here is the short version of the answer – something I cover at our Exponential Business Building and Internet Marketing Bootcamps

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What will your legacy be?

Regardless of what you thought of Michael Jackson’s ‘lifestyle’ and peculiarities, his passing leaves us all with the awe of his talent, expression and  ability to entertain across boundaries of colour, race and generations. That brings up the question – what will your legacy be? What are you creating that will be left behind when you depart this world/existence/reality?

What will YOUR legacy be?

What will YOUR legacy be?

The reason this is important to think about now is because the NEW YEAR is upon us in a few days…

When would NOW be a good time to start planning to make 2010 You Best Year Ever? Hmmm

When you’re in business, you can create an on-going legacy, one that survives you – most don’t achieve that goal – but you can, if you PLAN FOR IT.

Start by THINKING ABOUT IT…

Great Advertising Ideas

If you’re looking for advertising ideas, check out this website that has a growing collection of great advertising concepts. I promise you they are way out there – totally original and yes, absolutely positively EXPONENTIAL! Just click on the hyperlink and be amazed!

Squash Players Make Terrible Referees

I recently competed in the 2009 Australian Masters Squash and World Masters Games Competitions reaching the top 12 and 18 National and International Rankings respectively. I tell you this so you know I am qualified to make the statement that squash players make terrible referees. But here’s the thing that boggles my mind. They don’t know they suck.

At the 2009 World Masters Games, I had a match that was horribly refereed – I mean it was absolutely horrendous – it wasn’t biased – the calls were bad for me AND my opponent. But the calls were just plain wrong. The referee and the marker BOTH had NO CLUE how to referee a match EVEN THOUGH they were 50 to 60 year olds with 30+ squash playing experience.

How can that be?

Then it hit me, like a beginner’s exaggerated follow-through on the back-hand swing across the head…

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