How to Become a Better Leader by Asking for Help

IS THIS YOU?

  • I’m very good at what I do, but I’m not sure I’m very good at running a business
  • What do my business’ finances look like?  You’ll have to ask my accountant, finance is not my thing
  • We get lots of leads, but somehow they do not translate into lots of sales
  • We’re crazy busy but not making much money
  • I just have to be there all the time; things just don’t get done properly without me around
  • Having my own business was supposed to give me a better life; instead I seem to be working more for less pay
  • I can’t remember the last time I had a holiday (and was able to actually switch off)
  • Business is going well, just not sure how to take it to the next level

QUESTIONS TO ASK YOURSELF

  • What are currently my biggest frustrations in running my business?  What are my biggest aspirations for my business?
  • If I keep doing what I’m doing now, what will my business look like in 5/10 years?
  • What needs to change?
  • Are there any gaps in my skill set, expertise or mindset that need to be addressed in order to bring about that change?

COMMON ISSUES

Increase sales
Improve profitability
Get better at hiring people
Reduce the business reliance on me (the owner)
Get clarity on my business strategy and plan
Learn skills enabling me to better run my business

FACT: the more turnover (sales) a business has, and the more employees it has, the more likely it will survive
(Australian Bureau of Statistics study of business between 2010 and 2014)

If you want your business to survive, it needs to grow.

QUESTIONS TO ASK YOURSELF

Business Planning

  • Goal setting
  • Building detailed implementation plans (and sticking to them)
  • Time management

SALES & MARKETING

  • Increase number of leads
  • Improve conversion rate
  • Increase average transaction value
  • Attract repeat business

SYSTEMS

  • Reduce reliance on owner and key staff by documenting processes and procedures
  • Build consistency into the business
  • Preparing a business to be put on the market

DEVELOPING A BUSINESS SKILL SET

  • Management techniques
  • Financial literacy
  • Regulatory requirements

BUILDING A GREAT TEAM

  • Hiring the right people
  • Firing the wrong people
  • Getting the most out of your team
  • Delegate don’t abdicate

FINANCE

  • Increase profits by analysing profitability per product or service, customer type, market etc.
  • Cost reduction
  • Focus on cash flow – cash is king especially for small businesses
  • Improve financial literacy

FACT: 1 in 3 business fail due to financial mismanagement (according to a study done by Intuit in 2015)

Not being able to read your financials is similar to a pilot flying without looking at his instruments – not recommended.

Want help taking your business to the next level? We offer a variety of programs and workshops – contact us to find out which one would be most suitable for you.