Why Your Financials Are So Important

May 18th, 2013

I remember being out on an audit some years ago. It was a construction company and very busy. The owner was constantly out there looking for new business. This particular year there was a noticeable difference in the quality of the financial information and how it was being used. The person that prepared the monthly accounts had been unwell of and on for quite a while. I noticed that they were not invoicing quickly enough completed work, or chasing up their outstanding debtors. The response was that they were too busy getting in new business.

Your financial data creates a picture of your business at any point in time. The more up to date that picture, the better able you are to fix any potential problems before they become too serious. With so many businesses it is like viewing light from a distant star – the event took place so long ago that it is impossible to do anything about it now.

The construction business went bust within a year – which was really sad. It was part of the owner – he had grown it over a number of years and provided employment and security for a lot of people. But he ignored some fundamental rules of business:

Rule 1: Know Your Financials.

If you have up to date figures for your business – you can set targets, manage your cash flow, monitor your margins and your overheadsand you are in control. You can also create a picture of where you want to be by setting a budget – which is just another way of setting targets.

Rule 2: Use Your Financials.

It’s all very well having a ‘bunch’ of figures, but you need to understand them, use them, and take action when necessary.

So instead of looking backward at the light from some distant star that is long dead – you need to be well grounded in the present looking at the what is happening now, adapting to events that you can control, and looking to the future – where you want to be.
Have a great day.

Alistair

Telephone: 01875 830568
Mobile:       07981 107914
email:         a.summers@how2businesscoaching.com

Web: www.how2businesscoaching.com

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Targets – What are you aiming to do this month?

May 4th, 2013

Have you set any targets for this month?

Targets hold us accountable. They draw us towards our goals. They give us focus.

Without them we are like a ship without a rudder, traveling in the direction the prevailing current is going.

To have a target you need to have a goal. Perhaps you want to sign up three new customers this month, increase your turnover by 10%, work the same hours but produce more income, design and launch a new service, or perhaps work less hours and enjoy time with family and friends. Once you have a goal you can break it down into tasks and then start to take action to complete them.

Each time you complete a task you create an outcome that can be measured. You can assess your performance – you are either moving towards your goal, moving away from your goal, or treading water.

Without targets you cannot measure your performance or improve it. You are just that ship traveling in the direction of the prevailing current. You are not in control.

Exercise

Sit down with a piece of paper right now and write down 5 key targets that you want to achieve in May – and then start measuring and adjusting your performance each day.
Have a great day.

Alistair

Telephone: 01875 830568
Mobile:       07981 107914
email:         a.summers@how2businesscoaching.com

Web: www.how2businesscoaching.com

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The Art of Getting Things Done

May 4th, 2013

I can’t believe that we are already into quarter two of 2013. What did you manage to achieve in quarter one?:

  • Is your turnover up?
  • Are your profits up?
  • Have you taken on new customers?
  • Are you focused on what needs to be done?
  • Are you in control of your workload
  • Are you working to a plan?
  • Have you set your Goals?
  • Are you relentless in your execution of the right tasks every day?

In order to say yes to all of those questions you need to:

1. Change What and How you do Things

As the saying goes, ‘If you keep on doing what you’ve always done, you’ll keep on getting what you’ve always got’.


2
. Set Your Goals

You need to know where you are going in order to focus on the right activities to achieve your goals. Your goals give you clarity, focus, and direction. They are the fuel that motivates you to keep going.

3. Make a Plan

You need to create a RoadMap to guide you from goal to goal.

4. Take Action

You need to be relentless in your pursuit of executing every single task in order to move towards your goals.

The Art of Getting Things Done is actually very simple.  Follow the above steps and start taking action every single day.

Whatever you need to do – Do It Today.

Have a great day.

Alistair

Telephone: 01875 830568
Mobile:       07981 107914
email:         a.summers@how2businesscoaching.com

Web: www.how2businesscoaching.com

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Do you know what FEAR stands for in Business Risk?

May 4th, 2013
“I have spent most of my life worrying about things that have never happened.”
Mark Twain
FEAR stand for:

False
Expectations
Appearing
Real

We lives lives full of fear and that causes anxiety, doubts, and worry. The papers are full of doom and gloom. Fear is like a virus and people spread it so easily, and for some reason we absorb that fear – whether we believe it or not. If somebody says we are in a recession it affects what we believe, how we perceive the world, and the actions we take. If someone says we are in a double dip recession one week and there is growth in the economy the next week – we tend to believe it.

Our experience tells us that most of our fears never happen. Your thought patterns focus on the worst things that might happen – and one day some of them will – but not necessarily today. The trouble is that we can see those fears so clearly in our mind that they almost appear real. They are not. But meantime you have lost days, weeks, months, and even years worrying about what might happen. This creates a paralysis that stops you from living your life and focusing on getting the best out of every opportunity that comes your way. You can become seriously ill through fear and worry.

You become risk averse in both your life and your business. Business is about taking calculated risks to create profits, time, and freedom – so you can enjoy your life the way you want to.

Don’t be controlled by your fears or other peoples fears. Look at whatever is holding you back and ask yourself – is it real or just imagined. Whichever it is you need to take actions every day that move you towards your goals.

Fear takes the fun out of business. So go and have some fun each and every day.

Have a great day.

Alistair

Telephone: 01875 830568
Mobile:       07981 107914
email:         a.summers@how2businesscoaching.com

Web: www.how2businesscoaching.com

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What Does Your Tagline Mean to You?

May 4th, 2013

I have been working on my new website, and it has made me review what I do and why I do it. It has been a great exercise.

Your Tagline should aim to at least provide an insight into who you are ( your brand ) and the value that you provide. It is a key that can open the eyes and the understanding of your customers

My tagline is:

‘Your Path to More Profits, More Time, More Freedom’

I think that your tagline should be a reflection of who you are and the value that you provide to people through your business. For me, each business is unique, and my job is to connect what they want from their business with the technical aspects of running a business in a constantly changing world.

The three elements of Profits, Time, and Freedom are all connected. Changing one element changes each of the others. Generate more profits and you can have more time and more freedom. Find more time and you can generate more profits and more freedom. Find more freedom and you can generate more profits and more time. There is a powerful synergy at work when you get the mix right. I believe that the element really worth striving for, is freedom – the freedom do do the things that you really want to do with your life.

Your business can give you that freedom, and at the end of the day that is what I want to help people achieve.

So, what is your strapline, what does it mean to you, and what does it mean to your customers?

Have a great day.

Alistair

Telephone: 01875 830568
Mobile:       07981 107914
email:         a.summers@how2businesscoaching.com

Web: www.how2businesscoaching.com

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What Do You Really Want from Your Business?

February 8th, 2013

Why do people climb Mount Everest?

It’s the highest mountain, they are trying to prove something to themselves or someone else, someone said they couldn’t do it, they love climbing – the list of reasons goes on. The point is, they have a reason, a goal, a focus – and that drives them to get to the top.

We move towards things that give us pleasure, and we move away from things that give us pain. We move towards the achievement of goals we like, and we tend to move away from goals that we don’t like.

So here are a few questions for you to consider?

1. Why did you start up in business?

2. Do you enjoy running your own business?

3. Do you make enough money at the moment?

4. When will you make enough money to spend less time working or even retire?

5. Does your business have a value that would enable you to sell it – now or in the future?

6. Do you spend enough time with family, friends, having holidays, pursuing your other passions?

7. Do you spend too much time working?

8. Are you relaxed or stressed because of your business?

9. Read question 1. again and consider if you are moving towards your goal or away from it.

Running a business should be about enjoying what you do and getting rewarded at the same time. Regardless of where we are at any point in the economic cycle we need to achieve those two goals.

If you are not, you need to look very hard at what you are doing or not doing that is holding you back.

Alistair

Telephone: 01875 830568
Mobile:       07981 107914
email:         a.summers@how2businesscoaching.com

Web: www.how2businesscoaching.com

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What are you doing to make 2013 your best year yet?

January 10th, 2013
Where will you be by 31 December 2013?

I have been watching a series called ‘Everest – Beyond the Limit’. It is fascinating to watch as professional mountain guides work with amateur climbers to get them to the top of Everest. The ‘clients’ come in all shapes and sizes, and with all kinds of reasons for wanting to climb the mountain, But they have one massive thing that they all share – a burning desire to get to the top. They have clearly defined their purpose, vision, and goals.

Desire and passion are the fuel that motivate and inspire us to achieve our goals – it is the fire that keeps us going when things get tough. And that’s what fuels these climbers to get to the top of the mountain.

Climbing Everest is not easy. You need to be physically, mentally, and emotionally fit for the journey. You need to be absolutely focused on your goal, and you need to have a plan that covers every step of the journey. You need to be prepared for the unexpected challenges and opportunities – as they will happen as you move forward. Last but not least you must take action every single day, one step at a time, until you reach your goal.

The right goals, with the right actions, eventually produce the right results. Persistence and determination always pay off.

Your business is no different. If you want to create a successful business – you need to clearly define your purpose, vision, and your goals – in writing! Then you need to have a plan that is written down and that you follow every day by taking the right actions. You monitor your progress and adjust your plan according to the results you achieve. Before you know it you will be standing on top of your own Everest.

If you keep getting the wrong results, but you keep on taking the same actions – then something needs to change. Start taking different actions. Be a little radical in your thinking.

2013 can be the year you do great things – if you really want to. Don’t allow external events or people to hold you back. Get back in the driving seat, take personal control of your life and your business, and Make Things Happen in 2013.

The Kick-start 100 Day Challenge

If you want to really Make Things Happen in 2013 and change things for the better, then let me help you make those changes that will help you to achieve financial security and peace of mind by working with you to create more profits, more time, and more freedom.

The Kick-Start 100 Day Challenge starts in February and continues for 100 Business Days over 5 months. The aim is to get you to create new habits and behaviours over the period of the programme – but as importantly to consistently, day by day, take actions that turn intentions into results – based on where you want to go with your business – and by extension your life. The programme will cover areas such as:

1.   Diagnosis – Identify where you are now, what is working, what is not working, obstacles and opportunities
2.   BluePrint – Where you want to be
3.   Work The Numbers
4.   Do It Today Marketing
5.   Manage Your Time
6.   People and Personal Development
7.   Systems
8.   RoadMAP – Your Action Plan
9.   Leverage your actions to accelerate your performance and productivity
10. Results Catalyst – Take Action, Results, Monitoring, and Review

The programme will include:

1.  A Workbook that builds each week and covers the above Ten Step Turn-Key System I use with all my clients
2.  Email support each week – with homework – actions that need to be completed, reviews of what needs to be done, and reviews of what has been achieved
3.  One video per week to get you focused on what needs to be done each week
4.  Two half hour phone or Skype coaching sessions per month
5.  Tips and strategies that will help you with your business.
6.  Access to software where you can record, monitor, and track your progress

The programme is not for the feint hearted. You really need to ‘commit to the programme’ 100% if you want to create change in your life and your business. This programme is designed to Kick-Start you into creating new habits and behaviours, and to teach you how to consistently take the right actions every day towards your goals and create the results you want.

The cost is £100 per month and places are limited.

If you would like to know more, get in touch with me using the contact details below and we can discuss how this programme can help you and your business.

Alistair

Telephone: 01875 830568
Mobile:       07981 107914
email:         a.summers@how2businesscoaching.com

Web: www.how2businesscoaching.com

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Kick-Start Tip: Do You Want 2013 to Be Better Than 2012?

December 13th, 2012
Kick-Start Tip

“One day Alice came to a fork in the road and saw a Cheshire cat in a tree. “Which road do I take?” she asked. “Where do you want to go?” was his response. “I don’t know,” Alice answered. “Then,” said the cat, “it doesn’t matter.”"

Lewis Carroll

What are you going to do in 2013?

I have always loved hill walking. I have even done some rock climbing. When you are on a cliff face, you have four options:

1. Keep going up
2. Go back down
3. Stay where you are
4. Fall off

For me, once I have set my goal, I keep going until I reach it.

The trouble is, if you are like Alice, you might not know where you are going. In life and business you have to know what you want, and you need to pursue that goal with a passion and desire that keeps you going when you lose motivation or when things get hard. Goals give you clarity, focus, and direction – they are the lighthouse that guides you into safe waters when you cannot see clearly.

As 2012 draws to a close you need to:

1. Sit down and review what has happened this year
2. What were your successes and failures?
3. What goals did you achieve and why?
4. What goals did you not achieve and why?
5. What has your mindset been this year? Optimistic, pessimistic, or neutral. If you think you can – you can. If you think you can’t – then you will probably stay at the crossroads or go back.

Now – think of all the possibilities and opportunities that lie ahead in 2013 – if anything were possible and there were no obstacles that you cannot overcome. There are still trillions of dollars circulating in the global economy. People pay you for the value you take to the market. So make sure that value is the best it can possibly be. 2012 is history and 2013 can be a year of success if you have the right mindset and you are willing to set your goals, make a plan, follow that plan relentlessly, and spend time every single day not just working in your business, but also working on your business.

Take actions every single day that will move you towards your goals – and you will reach them.

Always remember – Goals and persistent actions turn intentions into results.

You can do almost anything if you put your mind to it – but you have to really, really, really want it.

To your success.

Alistair

Telephone: 01875 830568
Mobile:       07981 107914
email:         a.summers@how2businesscoaching.com
Web:          www.how2businesscoaching.com

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Kick-Start Tip: How Proper Planning Makes You Profits

November 12th, 2012
Kick-Start Tip

The Smart Way

How Proper Planning Makes You Profits

It always interests me how people plan their weekends, plan their holidays, plan what they are going to do with their spare time. If you don’t set a goal, make a plan, and then follow it through – you won’t enjoy your ‘free’ time. If you don’t book a table at your favourite restaurant – you won’t get a seat. If you don’t book a flight or a hotel for your holiday – you won’t have a holiday. The result that you want is to – ENJOY YOURSELF.

So why is it that when most owners turn up for work each week they rarely have a plan. Which means that they have not created the focus to clearly define their goals. Which means that there is no real follow through to achieve those non-existent goals. What there is, is lots of busy activity with no clearly defined purpose. The business remains static or perhaps is slowly moving backwards. The result – little enjoyment – and little or no profit

Exercise -  Create Your MAP

What you need to do is Make A Plan. You need a map that you can follow to create the results you want:

1. Write down what you want to achieve with your business and why – cover the next three years. This is your purpose.
2. Create a series of goals that you will need to achieve in order to fulfill your purpose.
3. Break down your goals into projects that will achieve your goals.
4. Break down your projects into tasks that will complete your projects.
5. Now you can take the right actions that will move you towards your goals and your purpose.

You should now have a written map of where you want to go. It will need a lot more work, but the effort is worth it.

Never underestimate the power of goals and writing them down.

Proper Planning will create success and Profits

To your success.

Alistair

Telephone: 01875 830568
Mobile:       07981 107914
email:         a.summers@how2businesscoaching.com
Web: www.how2businesscoaching.com

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Time Management and The Pursuit of Excellence

November 12th, 2012
Kick-Start Your Business Growth

The Smart Way

Time Management and The Pursuit of Excellence

I don’t know about you, but I find that there really are not enough hours in the day. The trouble is, whilst I am even more busy than in previous years – I know that I am not achieving as much as I used to. Everything seems to take longer. I am always in a rush – not really taking the time to slow down. A simple insurance queery can take half a dozen telephone calls, and usually a lot of frustration, as people seem to know less about their jobs whilst purporting to provide a better service. You can probably think of similar experiences.

The effect of having to constantly chase outstanding or unresolved tasks is that they keep interrupting your time. This means that the things you really need to do take even longer. The ‘Busy Stuff’ gets in the way of the ‘Important Stuff’ – in fact it sometimes drowns it.

“Efficiency is doing things right. Effectiveness is doing the right things. Excellence is doing the right things right. All three are threatened by this digital age of speed where the emphasis is placed on doing faster rather than on the significance of those things.” Harold Taylor

The Solution

We all need to slow down and take stock of what we are trying to achieve – where we are trying to go. Next we have to look at what we are doing and decide if we are doing tasks that take us away from our goals or tasks that are moving us towards our goals. Then we need to shift the balance from all those busy tasks towards those important tasks and start moving towards our real goals.

As you start to slow down, you will see more clearly, create the right focus, and move in the right direction. You will feel both mentally and physically better.

Your Challenge over the next week

1. Take half an hour and give yourself some quiet time.
2.  Write out all the things you need to do this week and split them between busy tasks and important tasks.
3.  Start putting the important tasks in your calendar. Treat them as you would an important meeting with a customer. You wouldn’t dream of missing the appointment! So don’t miss doing the task.

See how many of your important tasks you can achieve in the next 7 days.

To your success.

Alistair

Telephone: 01875 830568
Mobile:       07981 107914
email:         a.summers@how2businesscoaching.com
Web: www.how2businesscoaching.com

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