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Award Winning Business Coach Derek O'Dwyer works with business owners in Clare, Galway, Limerick, Kerry & Mayo helping them to increase sales, increase profits, improve customer satisfaction and to drive down costs. A results orientated leader, Derek is committed to your business success - Call him on 087 222 0720

Setting Sales Targets and Objectives

Too often people scoff at the idea of sales targets. They claim that it makes no difference whether they have a target or not. This is no way to run a business.

Every business owner, irrespective of the business you have, needs targets. You probably need targets in different areas of this business like Sales, Wage Costs, Operating Costs, Energy Usage, Wastage etc.

They do not take long to set in place and they can be invaluable in the following areas:

  1. They enable focused conversations to be held with the team
  2. The facilitate discussion on improvement and change
  3. The enable standards to be raised because they give you a reason to improve standards
  4. They enable your business to grow.
  5. They will put more money in your pocket
  6. They can put more money in your team member’s pockets

There are numerous ways to set targets as follows:

  1. Decide what turnover and profit that your business will have in the year, establish any seasonality that you may have in the business and then break down the target into weekly and monthly numbers. This exercise on its own is very worth while because it will get you to ask:
    1. Do I have the resources that I need to achieve this
    2. Do I have the skills required to achieve this
    3. What specifically do I need to change in order to achieve this.
  2. Share the Targets with the team and assign any targets to them specifically
  3. Design a solid reporting system visible to all in the business – how are you doing on a weekly and monthly basis. This is important and you need someone who will do this work diligently on a weekly basis.
  4. Have a weekly/monthly reporting system that will enable people to be held accountable, that will enable corrective actions to be take, to learn lessons and take different actions.

If you need help setting targets and improving communication with the team – get in touch – 087 222 0720

 

What to do when you have too much to do…?

As a business owner, it is very easy to get caught up in trying to do everything in your business. You do this for a number of reasons:

image11. You believe that if you do not do the task it will not get done.

2. If you do not do the task, it will not be completed correctly.

3. If you do not do the task, it will not be done fast enough.

4. You could not possibly ask a member of the team to do this particular task.

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There is a saying that

“if the dog chases 2 rabbits, he catches none”.

This can be applied to the behaviours of many business owners and managers.

To alleviate the requirement on you to do all the tasks in your business, we work with you to ensure that:

1. Most tasks can be systemised and therefore delegated

2. A better system of accountability can be introduced so that people can be held accountable for the tasks.

3. A better system of reporting can be put in place so that we know when things are completed properly.

4. You have confidence that you do not need to complete all the tasks.

Your primary responsibility in the business is to lead the team and enable the business to grow. There is no point paying your team if you are not in a position to delegate more to them.

You can only carry one or 2 people but you can lead thousands.

Contact me today to discuss on 087 222 0720

Too Busy! Where does your time go?

Have you ever completed a grueling week in your business, felt exhausted at the end of the week but had no financial gain to show for all your efforts?

Do you often find yourself doing tasks in your business that you could have, and shouldToo-busy22 have delegated properly to a team member, or outsourced to another party?

Do you work more hours in your business than anyone else?

If the answer is “yes” to any of these questions then you need to stop and assess yourself and your business.

You could be costing your business a fortune.

I recently asked a client to do a time study because he seemed to always be very busy but had very little to show for his efforts. His debtors were running at a quarter of his turnover, he was falling behind in his payments to suppliers. He was not getting to all customer enquiries and as a result was losing business to inferior competitors. While he worked in a price sensitive business, being on time and being in a position to do the work would give you an additional 5% margin.

When we analysed his time – the results were staggering:

  • He worked 90 hours over 10 consecutive days.
  • He spend 40 hours managing deliveries, loading and unloading, organising the warehouse, etc.
  • He spent 10 hours on deliveries, driving the van and also on collection from suppliers.
  • He spent about 4 hours on sales and dealing with customers
  • He spent 10 hours sorting out issues that his team handed to him, from pricing to customer complaints.
  • He spent 2 hours on the financial aspects of his business
  • He spent 1 hour collecting money
  • The rest of the time was spent on trivial tasks/
  • He did not meet his team at all

This man’s business was in trouble. It was in trouble because he had not delegated and he had not introduced any accountability to the team. He did not like confrontation and he felt that it would always be quicker if he did it himself.

I worked with this client on hiring one team member to do all the warehouse, stock and deliveries. We introduced proper roles for all the team and carried out some training and reporting. We focused more effort on credit control collecting about 70k additional in 6 weeks. We also went to work on selling, converting more enquiries in less time.

If your business is not performing well because your your inability to manage yourself, call me today on 087 222 0720

until next time…

 

 

Business needs to change but team won’t engage

It is said that the only constant in life is CHANGE. Yet most people avoid it, shun it, deny that it is necessary in the first place.

Every team meeting is full of ideas on what the business needs to do to grow and prosper. work-for-changeHOWEVER, the instant that the change affects the individual team member, we get resistance, push back, obstinate behaviour, delaying tactics and in some cases in-subordination.

Very often, the main driver behind this reluctance to change is FEAR, very often it is COMFORT ZONE.

Getting team members to understand and embrace change is an important aspect of good leadership. Encouraging discussion on why things have to change is also good, but only if everyone shares the common goal of the business and understands what the long term perspective is.

Businesses have to be adept at changing in 2013. They have to make decision fact, they have to react to changes in their environment fast because it is important that the business survives.

Behaving as a CHANGE BLOCKER is one of the fastest ways to alienate yourself in a company. In implies that you do not want to do whats best for the business, whats best for the team and very often whats best for the customers. It implies that you have stopped learning and growing as a person and have made the decision that the present is as good as it gets. This viewpoint does not help business development and growth.

The world around us is changing rapidly – Smartphones did not exist 6 years ago, YouTube did not exist 7 years ago. Google did not exist 15 years ago. Yet we want life to be the same in our business, in our office. No – be open to change, be open to embracing new things and you will be an invaluable asset to any business.

 

Excellent Team Members

“The staff that I have are no good”

Very often, I hear this for business owners. And I immediately say “Well, you get the staff that you deserve”. Business owners react in different ways to this comment. Some negative, some positive.

Either you hire bad staff or the good staff that you hire get bad from the moment they are hired. Either way the responsibility is yours.

The six keys to a winning team are as follows:

1. Strong Leadership – Please rate yourself and if its anything under 6 – you need to work on it now.

2. A common goal – most team lack direction and often more specifically, they are not clear on what is expected of them.

3. Rules of the Game – The common misconception is that people dislike rules – quite the contrary in fact, people like rules and work better where rules exist. same as playing a game.

4. An Action Plan – same as planning a journey, planning an event. Teams within a business need an outline of what they need to work on over a period of time.

5. Support Risk Taking – If the team work within the rules and toward the achievement of the Action plan, then decisions they make must be supported. If not, they will stop making decisions and dis-improve in terms of motivation and commitment.

6. 100% Inclusion & Involvement – Get the team involved, share the vision, lead them. Work together.

Call Derek on 087 222 0720 if you need to improve your team and your business profitability…

Is your leadership holding your business back?

Working with business owners every day allows us a great insight into the difference between good businesses and great businesses.

We often encounter business owners who lack and vision or direction for themselves or their business.
This can be cause by:
1. Recession Pressure – Operating in survival mode for too long
2. Financial Mis-Management – where a good business suffers because the correct financial control were not in place
3. The business owner may have already over achieved on original targets and never set any new targets.
4. General Burnout

Fixing this is critical to the success of the business. It is also the most rewarding from a business growth and financial point of view.

To fix this we coach the client on re-establishing his “WHY”. We establish his reasons for being in business and we work with him to communicate this message to the team. We work with the client to re-engage the team and put systems in place to ensure that the message continues to have meaning, continues to be communicated and continues to be lived every day.

Together Everyone Achieves More

In 2011, Business Owners in Ireland are pulling out all the stops in their efforts to drive on their business. Having gone though serious cost cutting exercises over the past 3 years, many of the business owners are again looking at efficiency and productivity. When we work with clients, we coach and teach them on leadership and the importance of building a team of committed professionals.

Helping a business owner to lead a team and to see the benefits of this leadership is very rewarding. The results are immediate and long lasting and it also impacts the bottom line.

Many business owners are fearful of leading a team because they often lack the skills or techniques. Simple team leading strategies work in most cases.

If your business needs some focus on Team, call Derek on 087 222 0720.

Are you doing enough in your business?

Its February 2011. Businesses in Ireland are struggling to survive. Business owners are trapped by excessive personal debt, trapped by debtors who cannot afford to pay and trapped by fear of making changes in their business.

They are not doing enough to get themselves and their business out of trouble. This is caused primarily by burnout or exhaustion.

If this sound like you, then let me assure you – there is a better way. Start with a simple plan of action which includes daily positive business improvement steps for your business.

As a business coach, we work with business owners to improve profitability, get them refocused and get them and their business working again.

Contact me on 087 2220720 if you would like to take a fresh look at your business and kick start it to profitabiility.