Do you suffer from Arithmophobia?

End your fear of numbers – with one financial practical tool at a time! Do you want your business to succeed? 100% yes? Well, the reality is that avoiding your numbers is not an option!

Don’t let finance terminology get the better of you. If you’re in business to make money, you’re probably relying on either your emotions or your intellect. Learn to know, understand and love your numbers to enable you to make informed, intelligent, and strategic business decisions. Your numbers tell a story – know what they are saying so you can make more solid financial decisions

How to master the numbers of any business?

Not only do you need to know your historic numbers but the ones that will create your future. Due to a lack of information, too many business owners have a limited ability to make decisions. If you want to manage something, you have to measure it! This is both accounting numbers and testing and measuring results.

DO THIS HEALTH CHECK

Financial:

Revenue – are my sales increasing?
Profits – am I making money?
Projected Cash Flow – do I have enough cash in my business?
Equity – is my business gaining or losing value?
Ratios – What are my Days Sales Outstanding (DSO), Aged Payables, Current Ratio, etc.

Non-financial:

What are my key activity measures/drivers?

Do I have customer service measures?

What are my strategies/values?

How in love are you with your business?

If you, as a business owner, want to reignite the passion in your business and learn to LOVE what you do whilst building a commercial profitable business that works without YOU then invest time to read on!

With February being the month of love would you say that you love your business the same way you did when you first started? Are you able to say that your business loves you in return by fulfilling all aspects of your life i.e.:

Wheel of Life*

· Job Satisfaction/Career

· Money

· Fun and Recreation

· Friends

· Family

· Romance

· Personal Growth

· Spiritual

· Health

· Physical Environment

Rate yourself in each of these very important areas of your life and then see how strong your relationship really is between you and your business.

If you had to look at your relationship with your business as a marriage, are you...

Together everyone achieves more

Your team members are the biggest asset in your company and when your team are as passionate about your company as you are there should be synergy in all areas. Isn’t that the ideal image of a successful company? Is it possible?

Understanding your team and making sure that your team understands each other and also understands the internal and external challenges in your company is the key to leverage. Your team is the glue that holds your company together.

How strong would you say your bond is?

Meeting or exceeding your sales and/or financial targets consistently is a great measurement!

Unfortunately, internal conflict, lack of communication, different working styles, and/or lack of direction or understanding of the company’s goals and personal goals are a few challenges that lead to frustration amongst employees within an organisation. In most companies, their employees often see themselves as being just the ‘Staff’ instead of being a ‘Team Member’ who plays an integral part in the company’s growth and success.

Do you know who you are and what you want? If you know what you want, do you go after it relentlessly?

It takes discipline not to be distracted and to stay in the direction of your end goal. So how do you avoid being distracted by getting sucked into doing things that are not doing you any favours and losing self-respect along the way? Especially now when we, as business owners, are faced with various challenges and frustrations that are out of our control? What is in our control is being able to pick a lane and sticking to it… and refusing to stop until we get to the other side!

So what are the steps for you to take to get back on track?

Family run business – helping to create a legacy

I specialise in family businesses and have worked through and overcome the frustrations and challenges that family-owned businesses often face. Ultimately, I have assisted in achieving personal and business goals for both the owner as well as their team, be it family or not.

There is nothing more important in a family run business than to create a legacy for future generations. This is achieved through the implementation of simple, practical tools, systems and methodology that has been developed specifically for small and medium sized businesses who want their businesses to be profitable, work and run without them. Does this sound like what you need in your business?

Does your business make business sense?

Why are you in business? Is it because:

You were born into an entrepreneurial family?
You have a passion for entrepreneurship?
You didn’t want to work for somebody else?
You were retrenched?
You didn’t have a choice?

No matter how or why you own a business the six basic fundamental steps of business will apply to all *phases of business i.e.:

Startup Phase (Concept to take off)
Established Phase 1 (Preparing for growth)
Growth Phase (Scaling your business)
Established Phase 2 (Exit strategy)

So, what are the **6 basic fundamental steps of business?

F.R.E.E.D.O.M – it’s a choice!

As a business owner, do you truly believe you could have or even deserve freedom? Do you know what real freedom actually tastes like?

As a business coach for more than a decade, I have more often than not, discovered when talking to a new client—a business owner—that somewhere deep inside them they believe there are no other choices other than long hours, stressful working environments, challenging financial situations, difficult teams to work with, and the growing list never ceases to surprise me. These wrong beliefs about what owning your own business are all about, is simply not true.

Let’s take some time out to understand what freedom really looks like and the various options. So before we break down the acronym F.R.E.E.D.O.M, let us first understand what the difference is between Freedom of Choice vs Freedom to Choose?

How are you investing your time as a Business Owner?

One of the benefits of being a business owner is that your business can run with or without you. Currently, are you working IN your business doing the day-to-day operations of your business or, are you working ON your business focusing on your present and future self? Are you building your wealth (i.e. having money and time), enjoying the finer things in life, and ticking off your bucket list items.

How you should be investing your time as an entrepreneur and business owner:

• 30% of your time should be spent keeping your communication channels open with your existing customers and clients
• 50% of your time should be spent on marketing and sales
• 10% of your time should be spent understanding your numbers
• 10% of your time should be spent on personal development – transitioning from managing to leading and directing

Decisions! Decisions!

Sales is a science and it’s predictable