T.E.A.M – Together Everyone Achieves More

T.E.A.M. – Together Everyone Achieves More!

Peter Drucker, the legendary management consultant and author says this about leadership:

“The leaders who work most effectively, it seems to me, never say ‘I.’ And that’s not because they have trained themselves not to say ‘I.’ They don’t think ‘I.’ They think ‘we;’ they think ‘team.’ They understand their job to be to make the team function. They accept responsibility and don’t sidestep it, but ‘we’ gets the credit…this is what creates trust, what enables you to get the task done.”

I work with business owners helping them to build high performance teams – Contact me today for your FREE Business and Team Assessment

 

10 Ways to Build Resilience…

“10 Ways to Build Resilience”, – American Psychological Association 2010

(1) maintain good relationships with close family members, friends and others 

(2) avoid seeing crises or stressful events as unbearable problems

(3) accept circumstances that cannot be changed

(4) develop realistic goals and move towards them

(5) take decisive actions in adverse situations

(6) look for opportunities of self-discovery after a struggle with loss

(7) develop self-confidence

(8) keep a long-term perspective and consider the stressful event in a broader context

(9) maintain a hopeful outlook, expecting good things and visualizing what is wished

(10) take care of one’s mind and body, exercising regularly, paying attention to one’s own needs and feelings and engaging in relaxing activities that one enjoys.

Hard to argue with any of these points but you do have to work on them. The same is true for your business. Could your business tick the boxes on all of these?

Contact Derek O’Dwyer for a FREE Business Evaluation – email @ derekodwyer@actioncoach.com

 

 

Summer Business Blues… – Discipline Required

Summer often offers business owners the opportunity to take a break, get refreshed and re-energised and ready for a fresh assault on the world of business. However, it also offers business owners the opportunity to offer up excuse after excuse about why their business is not where it should be:

“No one buys anything in the summer”

“No Point Marketing Now – there is nothing happening”

“All the staff will be on holiday now – I cant make any changes until they come back in September”

Many businesses lose momentum in the summer and this can have a huge impact on the bottom line over the course of a year. If you or your business tend to suffer from the summer time blues here’s what you can do:

1. Plan your summer business activity well in advance identifying things that you can do every week.

2. Work on marketing to your database during the summer – its easy and its low cost

3. Make sure that you business is not impacted too badly by scheduling summer holidays properly  – you will need some rules for this.

4. Plan in a break for yourself as well so that you can enjoy the holidays as well.

5. Keep the team focused on sales, service and results.

For expert results orientated coaching, call Derek on 087 222 0720

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.