Running A Successful Business Is Like Driving A Car

We buy a car to get us from A to B and the same applies when it comes to running a successful business- you need to have a good business model in place, to get you to where you want to be.

To create a successful business you will need the same 3 key components that driving a car requires namely a reliable vehicle, engine and fuel. So how exactly does this translate in a business sense?

The vehicle

Regardless of whether you’re starting a business online or offline, you will still need to have the right “vehicle “to drive you to success. By vehicle we mean the offer.

To run a successful business, your offer, whether it’s a product or service, needs to;

Appeal to the masses

Generate a high profit or commission

Be good

One way of making sure that your product/service is a good one that will appeal to the masses is to check out how much competition is out there for the same offer. If there is a lot of competition then this will mean that it is a good product that is in high demand.

Your job is to then make sure that you stand out from your competitors by being unique.

So how do you outsmart your competitors?

The Engine

That is where your “engine” comes in. The engine of your business is the system that you use to get customers to buy from you. If you have an online business then one great way of standing out over your competitors is by creating both a powerful website and creating your own unique landing page with a capture box included. By doing this you will start to build a valuable list so that even if your customers don’t buy from you on the first occasion, you can still market to them in the future. This technique can be invaluable in your quest to running a successful business.

If you have an offline business, there are other effective ways that you can build a list of prospective customers, including, storing customers’ mobile phone numbers and email details, so that you can text or email offers to them in the future.

So now that you have got your vehicle (the offer) and your engine (the system) in place, the next vital component needed for running a successful business is to add the right fuel (targeted traffic).

The Right Fuel

The first point to remember when finding traffic/customers for any business is that it needs to be targeted traffic. Just like a diesel car will grind to a halt if you put in the wrong fuel, (petrol), so too will your business, if you market to the wrong crowd. Therefore it is important to spend time working out who your target audience is and to make sure that you narrow your marketing efforts to that audience.

One powerful way to do this is to use social media sites that are free. Social media sites like Facebook and Twitter offer a means of joining groups within your niche and to also add followers who fall within your target market.

Another great way to reach your targeted audience is by using paid advertising methods like pay per click or Facebook paid advertising. However, if you decide to go down the paid advertising route, it is better to start off small and scale up once you start making lots of sales.

In my opinion success for your business requires finding a reliable vehicle, good engine and the right fuel. With all three in place, you will have the key ingredients needed to running a successful business.

Keys To Success – Business Networking

One of the primary reasons to invest time and effort into business networking is to get more business. Yet, for many the outcome of greater business remains elusive.

Business Networking – How To Get More Business

As a personal business coach one of the first things I ask a potential client, whether it be a self – employed small business owner or a corporate manager or executive, is if they are doing any business networking. Most of them will tell me that they do some business networking.

The main reason they do business networking is to get more business. When I ask how successful it has been the answers range from very successful to virtually no success at all.

How come one person has great success and another doesn’t. Is one’s product or service in greater demand? Possibly, but very often it has nothing to do with that.

Business Networking – Success Is About How You Fish

For a moment visualize a business networking event as a big pond with many fish. You have come together with a group of other people and all of you are fishing in the same pond. Some of you will catch fish, prospects, referrals and customers. And most of you will put your bait on a hook and come up with nothing.

What’s causing the difference in results? It could be the pond you are in. Maybe the fish you are swimming with aren’t ideal for you or your business. But, more often than not it is not the fish in the pond that is the problem.

The problem is how you are choosing to fish in that pond. Especially for small business owners seeking more small business growth and success how you fish is a critical determinant in your results.

Running a small business is a big enough challenge to your time and energy without engaging in business networking that is not producing positive results. So if the pond of your business networking is not yielding the results you desire, yet appears to be a good pond, then you must change the way you fish in the pond.

Business Networking – It’s About The Human Being And Not The Human Doing

How do you catch a fish? It’s easy. You give him some bait where he wants to bite on your hook. The best hook you have is you. It’s not your business. It’s not your service. It is who you are. Most people when you engage them do not need your product or service.

The key is that they certainly may need it at some point in time in the future. The goal is to start building a relationship with them based on who you are, not what you do. In the end they will do business with someone they know, like and trust.

The key to successful business networking is to get beyond the human doing, your business, and let others get to know the human being. Focus on learning about who someone else is. Reveal to them more about yourself. It will give you and them many more reasons to build a solid relationship.

Focus on the human being, not getting business. And, the last part is the most important. If you have business networking functions every month attend them regularly. Even if business is good and you feel too busy attend them regularly.

Great relationships aren’t built with intensity but with regular contact over a period of time. Be consistent in showing up and persistent in building your relationships. When you approach business networking as an essential marketing activity focusing on human beings instead of human doings you will start catching a lot more fish in your pond and even greater small business, large business and personal success.

What Do Leaders of Successful Businesses Do? And 7 Habits of Effective Leaders

What Do Leaders of Successful Businesses Do?

For a business to be successful, it must have a strong leader. Leadership can make or break a company. This is why public companies pay several million dollars for a new chief executive officer. Below are nine characteristics of successful business leaders. It is therefore important to ensure you are equipped to manage the situation in the best way possible.

Guy Kawasaki has given his opinions on how to handle this difficult process in his recently released book; “Reality Check”. We have summarised a few of his key tips below:

1. Have a positive attitude. Believe that your business is the best business in the world. Self-confidence leads to decisiveness and in particular, the ability to back your own judgment and to take risks. Be determined. Be persistent. Be resilient. Overcome setbacks. Do not dwell on past mistakes and learn from your errors.

2. Love what you do. Enjoy your work and the challenge it provides. Work should be fun, not merely something to be tolerated. Enthusiasm generates a hard work ethic and a passion which becomes part of the culture of your business.

3. Seek wealth creation. Aim to maximise your sales by increasing your prices, selling more to your existing customers or obtaining more customers either in your local area, in another state or in another country. Control your costs. Eliminate waste. Sell unproductive assets and discontinue unprofitable products. Know your business. Measure your marketing. Strategic partnerships with suppliers and customers can give your business greater flexibility and enable you to better manage your costs and maintain or increase your margins. Maintain your competitive advantage. Study your competitors’ assets, capabilities, marketing, costs and culture.

4. Delegate. It is impossible to do everything yourself. It is also unwise as it is more productive to get those with the appropriate skills to do appropriate tasks. The ability to get people with different skills to work as a team is a starting point for all successful businesses. Recruit high quality staff with complimentary skills and organise these people in the most efficient way. Motivate your staff and encourage them to think independently. Non-performing staff which don’t fit the culture of your business need to be replaced quickly because they can affect relationships with your customers and other staff members and ultimately the profitability of your business

5. Seek financial, marketing and legal advice. Have a vision and clear goals. These goals should include future income and the achievement of various tasks. A strategy to grow the business and a detailed business plan consisting of marketing and financial plans are important. Manage your growth at a rate that enables your cashflow to remain positive.

6. Concentrate on doing what you do best. Specialise. Focus on single industries rather than diversifying. Maintain your core business. Outsource non-core activities and functions. Dominate a niche market rather than attempt to serve a large number of markets.

7. Have systems in place. You need the business to run efficiently even if you are away from the office for 12 months. The best example of a company with efficient systems is McDonalds. Teenagers can run their outlets profitably and efficiently because appropriate systems are in place.

8. Worksmart. Success does not mean working 100 hours a week. Today, it is more likely to mean working 35 hours a week and spending time with our family and pursuing your leisure interests. Working smart is much more important than working hard. Spend time working ‘on’ your business and not ‘in’ your business. Seek continual improvement. This may mean more efficient procedures, better systems, better marketing or better cashflow.

9. Have a good support base. Hire staff you can rely on for advice. However, use discretion when listening to advice from others. Encourage training. Foster an attitude of continuous learning both for yourself and your staff. Have a mentor. Be a mentor to your senior staff. Read and attend seminars. Notice what others are doing.

7 Habits of Effective Leaders

EFFECTIVE LEADERSHIP IS something we need to focus on daily. It’s something that takes practice, questioning how well you’re doing, reassessing and best of all continuing to try!

Like any learning, watching others who are good at leading and following their example (otherwise known as R & D – rip off and duplicate) is a successful strategy to follow. So here are the habits of effective leaders:

Clarity of Vision (and ability to share that vision).
Healthy discontent for the present.
High standards of excellence.
A sense of urgency (operating at pace).
Strong commitment to implement.
Ability to eliminate likely distractions.
Build a strong team.

The Law of Attraction & The Secret to Building a Successful Business

We all look on with a degree of envy at that select group of people who we consider have made it in the world, building a successful business, the big home, the sports car and expensive life style, you all know what I mean. How is it that the law of attraction has manifested this wealth for them and not for us? I mean to say we went to the same school, had the same marks and we got into the same college and university? We even went into business at the same time.

The one secret that has never changed and never will is

“Talking to Your Customers”

To build a successful business, I hope you are talking to your customers – “often”. If you don’t, how can you possibly meet their needs? How can you sell them products or services that they really want? If you’re not meeting client needs, how can the manifestations of wealth you seek for your business come true. Your success is built on the success of others who need your products or services.

This critical advice for owners of small companies can never be understated. The quickest way out of business is to forget this principal. Talking to your customers allows you to build a successful business on the universal energy that you both share from this interaction. Know your customers needs, manifest in your own mind the steps to success that they need to achieve, to bring the rewards to you that build your success. Be grateful as you proceed through each stage as a supplier, what ever the level. Be there for your client and they will be there with you. As they build their business yours will be pulled along with it. You may even want to think about joint venture if you can see a blockage in growth that can be beaten working together.

Remember success builds on success. This is the key in building a successful business. Clients remain loyal only on good service or there being no other supplier. Change these variables and see how long it is before you are out of business.

Not Talking To Your Customers?

If you aren’t talking to your customers, you have probably fallen into negative patterns. Lets look at some of the more common mistakes made repeatedly by small business.

Losing attitude #1 – You are so pressured to get short-term results in your new business that you forget about long-term strategies. There are times during the startup phase when you need to generate profits quickly. But at some point – the earlier the better – you have to get to know your customers so you can market to them strategically. If you don’t, any success you achieve will be short-lived.

Losing attitude #2 – You think that you already know your customers so well that there is no need to communicate with them. An even more damaging version of that attitude is, “My customers are just like me and they think the same way that I do. We’re on the same wavelength.” You are living in fantasyland. To build a successful business you need to understand; your competitor is just around the corner waiting to pounce. Relationships grow off understanding; close contact lets you know any changing needs or pressures on the clients business. Good relationships will give you advanced warning of competitor’s approaches and allow you to counter with supported serve levels.

Losing attitude #3 – You welcome good news from your customers, but shut off the bad. It is great to hear from customers who love you. But are you also eager to talk to them when they call to complain? Remember that complaints are much more valuable than praise. They point up areas where you can increase your profits by improvement this helps you build a successful business.

Losing attitude #4 – You have blind faith in your product or service. It is so great that it will succeed with no effort from you! That line of thinking also causes you to ignore your competitors. And remember that the more successful you are, the more aggressively your competitors are gunning for you. Relationships not just product or supplying a service, is the key to success. It is an established fact that a good relationship can allow as much as a 7% increase in the purchase costs of sales a client makes.

Losing attitude #5 – You think that you don’t need to understand and target specific consumer groups. All people are really just the same, right? No, wrong! Your profits are maximized only when you understand just who your customers are, so you can market to them strategically.

So the bottom line is;

To build a successful business you need to; Talk to your customers often and efficiently. Visit them to see how they are using what you have to sell. Survey them. Hold focus groups to pinpoint what they like and dislike about your company’s products, services, people and everything else. When customers call to complain, capture what they have to say. And share it with everyone in your organization.

Use the Law of Attraction [] to build a successful business. Manifest in your mind that which you want. Act as if you have it, and before you know it, it will be yours. Never waste your time dreaming about what other have, what you don’t have. You bring to yourself only what your really believe in. Negative thoughts are the key driver to negative events. If you are negative the gains you seek will remain unfulfilled and the concerns you had, will become reality.

Develop winning attitudes, Give gratitude for what you have. Trust the Law of Attraction, the universal laws of provision. Manifest that which you seek. Hold your belief in the manifestation. Think of it as a reality, live the dream where possible and you will see the results. Others will look at you and ask how he achieved it, ask why it happened to him and not me.

Ultimately, the success of your business and your marketing can only succeed if you listen to your clients. Ultimately the future you seek to MANIFEST will only happen if you follow The Law of Attraction Principals.