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Is Your Business Struggling ?

Posted: Wednesday, June 14, 2017 at 1:17:56 PM EST by Anthony Davis
Izzy Levovitz identifies 6 key areas for business focus as Products & Services, Marketing, People, Processes, Grasp of Numbers and Customer Service
 I'm not sure the word 'blame' is appropriate as you can't 'blame' marketing ... you can review your marketing and identify ways to improve it. 
 Where the 'blame' lies is in the Business Owner not having a good handle on all 6 areas.  Consider your title as General Manager.  Your job is to generally manage all parts of your business, especially these 6.
 There are a lot of moving parts in a business, and every part needs its own process in order to work properly on its own as well as a part of the larger business strategy.
 Every business, regardless of size or industry, must proficiently ace the the following 6 "Goods" in order to have a chance at real success.
 If any of these 6 areas are seriously not working, your business can be in serious jeopardy.

https://www.linkedin.com/pulse/your-business-struggling-blame-one-6-y-h-izzy-levovitz

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Anthony Davis

Anthony Davis is a twenty year veteran in the Business Coaching industry, leading a team of talented Business Advisers/Coaches using a proven system generating greater Wealth, Freedom and Excitement for owners of SMEs. Anthony has been the "Go-to" man in business coaching circles for two decades.

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Are you strong enough?

Posted: Wednesday, June 14, 2017 at 1:10:52 PM EST by Anthony Davis

This is a great article by Andrew Griffiths and he resonates comments made to attendees at our recent Leadership Program.

The three things that stand out for me can be covered by these sayings ...

For things to change ... first I must change!

As a Leader ... you get what you tolerate!

What you walk past ... is the standard you are setting

and finally ...

It is all about the courageous conversations!

If you want to find our more about the Leadership Program commencing on 2nd August, email bizplan@brightwater.com.au with Leadership in the subject line.

https://www.inc.com/andrew-griffiths/are-you-strong-enough-to-make-the-tough-calls-in-your-business.html?cid=email

anthonydavis

Anthony Davis

Anthony Davis is a twenty year veteran in the Business Coaching industry, leading a team of talented Business Advisers/Coaches using a proven system generating greater Wealth, Freedom and Excitement for owners of SMEs. Anthony has been the "Go-to" man in business coaching circles for two decades.

Connect with Anthony  |  Facebook  |  Google Plus | linkedin | color-twitter-128 | color-youtube-128

4 Mistakes Business Owners Make When Selling

Posted: Thursday, February 23, 2017 at 12:06:31 PM EST by Anthony Davis

4 Mistakes Business Owners Make When Selling

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As a Business Owner, you are often so passionate about what your business sells that you make 4 simple mistakes.  Simple?  Well once you understand what they are and how you can address them, you will find the answers and the selling process more rewarding for you and your business.

No. 1 Selling to the Wrong Customer

Is the Customer always right?  Surprisingly, the answer is NO! What I would ask you to consider here is the “the Right Customer is always Right!”

So who gets to determine who is the “Right Customer?”  You do!  Not every Customer is right for your business and the sooner you determine the characteristics of the Right Customer, the more time you will have to nurture and then sell to “Ideal  Customers” who value what you and your business can do for them.

No. 2 Underpricing

Who has the most problem with Pricing?  Is it the Seller or the Buyer?  Many times I am told that it is the Buyer.

Repeatedly I have had the opportunity to prove that Price is not the barrier that many Sellers believe it is!  When all the Seller does is allow the Customer to compare price for price, then it does come down to the customer making their decision based on price.

One client lost a job because he was 10% dearer than a competitor’s quote.  Because of their relationship and the quality of work that my client provided, their customer asked if a 5% price drop was possible.  What that signified to me was that the customer was prepared to pay a 5% premium to get the better service from someone with whom they had a relationship.

In a commercial marketplace there will always be someone who will be cheaper than you.  Perhaps they have lower overheads, do all the work themselves and employ no-one, supply lower quality components … and the list goes on.

If you want to grow your business, you will need to have a good understanding of what it costs for you to sell your product or service, pay all of your expenses and make a profit.  When you choose to deal with “Ideal Customers” who value what it is that your business does for them, then price, while still a consideration, is not the major focus.

If you are interested in Identifying your Ideal Customers and finding out how to make more sales for your business, join us on Thursday  March 2nd  at 1:00pm or 6:00pm AEST at a FREE 1 hour Webinar – Win More Business … Keep More Business. 

No. 3 Not Selling Value

  • Price is what they pay … value is what they get! 
  • In a world full of you … why would someone select you?

In answer to both of the above, it is in your best interest to identify all of the things that make your business and your product and/or service stand out in the market place.  When you understand the Quality/Service/Price triangle, you will realise that the customer can have any two but not all three.

An easy way to identify the value that you bring to your customers is to ask them.  Ask them how dealing with your business has improved their lives.  Once you know that, you are on your way to articulating the value you bring to your customers.  You can then create a comparison list to identify the value your business offers.

No. 4 Not Understanding the Customer Journey

There are five general stages that every customer/purchaser goes through:

  • Need Awareness – the customer becomes aware of a need;
  • Information Search – finding out what is available;
  • Evaluate Alternatives – determine the one that best suits their needs;
  • Purchase – the transaction process;
  • Post-purchase evaluation – sometimes known as buyer’s remorse.

Each stage has its own opportunity for you to engage with the prospective customer and to influence them to select your business and your product and service.

Big or small every business needs sales to survive and the easier your selling process, the less stress for you. 

The good news is that there are steps you can take to fix these 4 Mistakes.  The first step is increasing your knowledge. 

So to find out how you can start to make more sales and learn about the Customer Journey, join me on Thursday March 2nd  at 1:00pm or 6:00pm AEST at a FREE 1 hour Webinar – Win More Business … Keep More Business. 

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Does Your Mission Statement Work?

Posted: Tuesday, February 14, 2017 at 4:59:42 PM EST by Anthony Davis

Mission Statements ...

Does Your's Work?

doesyourmissionstatementwork

At Brightwater, we are passionate about Mission Statements.  So passionate, in fact, that we have it on the wall as you enter our office.

We work with our clients to help them create this expression of the Values of their business.

When I saw this Poll, I thought I would share it with you.

Priority Management, http://www.prioritymanagement.com in their Monthly Newsletter "The Learning Link" conduct a poll called "Talking Point".  Recently, the poll was on Mission Statements. 

How would you respond?  More importantly, how do you think your team would respond?

 "Does your company or organization Mission Statement resonate with you"?

The results were:

1. Yes, it's crucial to our success - 51%
2. Yes, but our leaders don't connect it to my work - 21%
3. Not at all - 13%
4. No my boss doesn't share a real understanding of the mission or purpose - 9%
5. My company/organization doesn't have one - 7%
Total Votes: 1118

There is more to this than meets the eye.  51% say it is "critical to our success" whereas almost half either say it doesn't 'work' in their business or they don't have one.

Priority Management has business owners/employers as well as employees on their database.  It is my contention that Question 1 was answered primarily by the Business Owner/Employer group (I know I did!) where as the remaining 49% were answered by Employees.

So what does that tell you about Mission Statements in general?

Whenever the words 'Mission Statement' are used, they elicit a variety of responses ... mostly of disdain.  When you see the power behind a well-constructed Mission Statement, you will want one for your business right now!

If you would like assistance to create an effective Mission Statement for your business call Brightwater on 1800 242 366.

For more information on Mission Statements follow this link - http://www.brightwater.com.au/Blog/business-boost-blog/Post/mission-statement 

 

 

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Where Will You Be in 5 Years Time?

Posted: Tuesday, January 17, 2017 at 1:43:27 PM EST by Anthony Davis

Where Will You Be in 5 Years Time?

A Webinar Invitation

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Here are some catchy expressions for you to consider about your future:

  • If you don’t know where you are heading … any road will get you there;
  • Great goals make great people.  People cannot hit what they do not aim for;
  • Do not be afraid to take a big step if one is indicated. You can't cross a chasm in two small jumps;
  • What you get by achieving your goals is not as important as what you become by achieving your goals;
  • Setting goals is the first step in turning the invisible into the visible;
  • Stay focused, go after your dreams and keep moving toward your goals.

 So the real question is ... “Where do YOU want to be in 5 years time?”

When it comes to goal setting, one of the most valuable experiences I had a number of years ago, was that I set a whole bunch of goals that I thought would make my then partner happy.  Were they designed to make me happy?  Well, not really.  I was under the mistaken belief that if she was happy, then I would be happy.

So when you answer the above question, make sure to be 100% true to yourself.  By all means, take care of and include your significant others, and realise that in setting and achieving your Goals ... You are Number 1!

 It is amazing how we allow our mind to play tricks on us! 

Some years ago, I conducted our Strategic Vision Program for a family who owned a couple of gyms.  The father was 55 and the two sons in their 30’s.  They enjoyed the process of building a 10-year vision for the future.  20 gyms turning over $20million and sold or ready for a public listing.  Within 3.5 years, they had 13 gyms turning over $20milliion and had been bought out by an unlisted public company.  Such is the power of goal setting.

 With that amazing outcome, they invited me back to conduct another Strategic Vision Program for their new business venture.  The father was now 60 and he was having trouble even thinking out to another 5 years.  It is amazing that at 55, a 10-year goal was achievable and at 60, even 5 years was too far to consider.

 I was talking to my 16-year-old son today about his next five years.  They are all clear in his mind.  Final year at high school and a good OP score; a gap year as an exchange student; then Law studies … he wants to be a barrister.  In five years time we will be celebrating his 21st birthday!

To find out more about “turning Your dreams into Reality” set one hour aside on Thursday January 19th at 1:00pm or at 6:00pm to find out how you can plan your next five years at a FREE Webinar – Your Plan for Your Future.

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