Growth Club July 1st – A Must for Business Owners

You are invited to join our group of like minded Irish Business Owners and their Teams, jointly committed to making the next 90 DAYS REALLY COUNT!

  • Reset your VISION…
  • Set some great GOALS…
  • Write yourself a great action PLAN…
  • Get CLARITY and FOCUS…

We’ll work with you to map out a winning game plan for the next 90 days. You will get back to your business with clear direction and new tools to achieve your goals faster.

 

You’ll walk away with…

  • Energy, vision, passion and focus for the next 90 days in your business and life…
  • New strategies to instantly build your profits and increase your cashflow…
  • A ready to implement simple time-lined Action Plan…
  • A switched on network of business contacts to work with…
  • The skills and tools to help you get more done in less time.

Register Here for the Event

Discipline turns into Habit

How many bad business habits do you have? 

Not setting targets for yourself, your team and your business?

Forgetting to communicate with your team?

Focusing on the minutiae of administration at the expense of customer care?

Focusing on yourself and not on your team?

Neglecting to do any marketing week after week?

Sticking to old sales tactics when clearly the do not work?

Failing to take action and procrastinating instead?

Developing new habits for your business is a must in 2011. To develop a new habit, we must first be clear on what this habit will do for you. To develop a habit, we need discipline and the discipline is required until the activity/habit becomes second nature for you. It is suggested that you must do something repeatedly for 21 days before you could consider it a habit.

The best way to ensure that a habit sticks and is worth pursuing is to measure the benefit that you receive from it. In business, it is very important to continually look at the habits that you have and assess whether they are helping you are hindering you.

Make a list today of your business habits and identify some new ones that you need to introduce. Contact me if you would like to discuss your business in more detail.

 

Need More Sales? Look internally first…

It’s fair to say that most businesses in Ireland today would like more customers. It’s also fair to say that when we do get new customers, we do not look after them well enough and they leave.

So whats the point in spending money getting new customers if you make no effort to keep them? Thats what I call wasting time and money…

Here are some simple tips to make sure that your customers stay and pay…

1. Make sure that the customer experience is consistent, irrespective of team member, day of the week, week of the year. People like consistency and will leave you because of inconsistency – even if your service is good.

2. make sure that you know who your customers are and have a means of communicating with them. Email is free, facebook is free, text is inexpensive. As long as you respect their privacy and communicate information which is relevant to them.

3. Train yourself – make sure that you know the value of a customer to your business over their lifetime. Make sure that you learn how to communicate this value to your team and make sure that your customer knows that you appreciate their business. A simple thank you is often sufficient.

4. Train your team – You team must understand the importance of each customer to the business. Its too easy to assume that they will be the epitome of positivity – they wont unless you lead them and demonstrate by example. Then train them again and again.

5. Go the extra mile – There is very little traffic on the extra mile. Customers appreciate and expect satisfaction but they talk about getting more than they expected. When you think about it, you need to turn your customers into your best salespeople.

To get the most from your team, call Derek on 087 222 0720 today…

Which type are you?

How committed to your job are you?   How committed are you?

How competent at your job are you?

Very often business owners complain that the team that they have is no good. In most cases, they have to shoulder full responsibility for this. They either hired the wrong people or the people they hired dis-improved since they got there.

So, on a scale of 1 – 100 how would you grade your commitment to the business?

and on a scale of 1-100, how competent would you say you are?  

If you have a score above 50 on both, its fair to say that you are a good employee and should be given more responsibility and more rewards for your efforts.

If you score low on competence but high on commitment, then we need to provide more training for you

If you score high on competence but low on commitment, then we need to understand the reason, question the reasons why, and work with you to remedy. If no improvement, then possibly move on.

If you score low on competence and low on commitment, you are probably in the wrong job. You are doing nothing for yourself and nothing for the employer. We suggest you should move on – fast.

Call Derek on 087 222 0720 to discuss your team and your leadership

What’s your conversion rate?

If you currently spend any money on advertising, STOP. What’s your conversion rate?

Your conversion rate is the number of new clients/customers you get compared to the number of enquiries you get. For example, if 10 people contact your business and you do business with 2 of them, your conversion rate is 20%

Consider this…

If you knew how to increase your conversion rate you would automatically improve the effectiveness of your advertising. In the example above, if you managed to get your conversion rate to 40% or 4 out of 10, your advertising costs would halve.

Here are some simple ways to improve your conversion rate.

1. Ask for the sale. Too often, we have the new customer or new client but we fail to ask them for the business. Sometimes, they will leave and you may miss out on the business.

2. Remove the risk. Especially in 2011, businesses and consumers are nervous and if the detect any risk at all in dealing with you, they will take their business else where. Is there any risk associated in doing business with you? Are you really sure? Would you buy from you? The easiest was to eliminate risk is to provide a guarantee.

3. Train the team. If you knew that your fellow team members were not as good at winning new business as you, would this make you feel great about yourself or would you be concerned about the sales being missed. Either way – its your responsibility. The simple solution here is to carry out some sales training for the team. Even 10 minutes per week can be very effective.

4. Follow up. In some cases, sales are made by providing quotes or people take some time to make up their mind. In 83% of sales situations the follow up from the supplier is extremely poor in that they do not follow up or the follow up is weak. Why is this? Fear of rejection is the answer so the easiest thing is to stick the head in the sand and hop the business comes in. By the way – it does not work this way.

If you want to improve the conversion rate in your business, call Derek O’Dwyer. 100% Satisfaction Guaranteed! 087 222 0270

 

 

Why is collecting YOUR money so difficult?

Poor Cashflow is one of the biggest challenges facing business owners right now.

Irrespective of their business terms, many business owners are struggling to collect monies owed to them. In some case, people are owed money for years and not just months. It is not uncommon for people to be waiting over 90 days on average for payment.

Is this your fault or the fault of your client? What can you do about it?

Here are some ideas…

1. Decide today what your terms of trade are. Cash with Order, Cash on Delivery, 30 Days, 60 days etc. Be very clear on what impact NOT sticking to this will have on your business. Just add up all the interest on your overdraft last year and consider what type of holiday you could have had with that money in your account.

2. Explain the terms to your team and stress that from now on, these are the rules. Make sure you learn the rules as well.

3. Start to explain your new terms to your customers/clients and make sure that you ask for your money before it is due. If you leave it until after the due date, its already late and the customer does not think you care about your money.

4. Always bear in mind that its your money you are collecting because you have delivered the product or service.

5. Understand that time spent chasing money is costing you money so make sure it is effective, consistent. The motto “firm, Fair, Friendly” is a good approach to collecting money.

6. Understand that the longer you leave your money out there, the less chance you ever business coaching reduces bad debts have of collecting.

While I accept that in some business, credit terms are give and expected, this need not apply to all businesses. Does it need to apply to yours?

If your business needs some focus on cashflow, call Derek 0n 087 222 0720 today. We also offer a service for chasing monies owed.

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…

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.