Many curious prospects ask me “Why should I engage with a Business Coach?” The answer is never easy, as we have not started to build the rapport that leads to understanding of the problems facing the prospect. Until you understand the diagnosis you cannot prescribe.
But, if you’re pressed, what do you say? Our philosophy we use, is to place the person first and the system second, all the time recognising that the system is what is needed to instil the repeatability and the measurable quality that the organisation must deliver.
our Reason for Life (Joie de vivre)
We want to help you build an Building a Legacy(™) (BaL), lets look at some characteristics. An BaL allows you to;
- run an enterprise that satisfies YOUR vision with minimal frustrations
- at some stages to attract the funding necessary to expand the business (Equity),
- if necessary to sell the enterprise at a premium value and to understand how valuations are linked to the Business Infrastructure,
- to exit (not like in sell) where the owner/entrepreneur can be extricated from the day-to-day running of the business by working “ON” rather than “IN” the business.
So, when the cock crows, we know where we are and where we would like to end, but can we optimise the route or will our path be strewn with wrong turns and frustrations?
Although many guru's on the subject, try to make the Future Value of a business a measurable thing, valuation, except by a highly professional method is hit and miss and mostly extremely sentimental and subjective. We want the most monetary return and the purchaser or the lender wants to minimize risk by securing the lowest monetary measurement. This is called discounting the future value of the business, at this very moment it is well defined, (the trading statements and audited financial books) but in the future things become murkier the further out you go. So, if we could build a business that has a greater ability and certainty to deliver the same or better results in the future, we can ask for more money and get greater funding equity for it NOW!
Position, Position, Position,
Yes, and Price, Place, Promotion and Product - but positioning in the market is King! A saying, all to true, about value is the position you occupy, along with your business, in the market. If your home is in a premium location it sells above the value of other like houses in the area, if not, you may even struggle to recover your initial investment. Products like IBM & Coke Cola could probably live forever and not spend another marketing $ as long as they don’t abuse their position – we all remember the wobble when Coke tried to reinvent itself.
The amorphous market is a thing of legend and many try to “be everything to everyone”, to own the market is the stuff of dreams and many measure their market share as though it is a company dynamic. Ownership of the market, or portions of it, is an outcome. Trying to be everything to everyone, may lead you to be “nothing to someone,” your perfect client. When you understand your customer you are able to innovate your position and your product so that you may open multiple revenue streams, which, through focus, enables you to “own” that market segment.
Being able to do this requires you to lift yourself, your product and your business out of the chaos of chasing “leads” into servicing select customers who delight in your personalised service. It leaves them with a sense of trust and uniqueness that they talk about (refer to or referral!). Innovation is the operative word and if you find yourself in the chaos of the market, positioning is going to reduce that chaos and allow the innovation of product and future value to drive multiple revenue streams. This is the first dynamic that will create future value and push back the discounting levels.
To achieve a business that can deliver repeatable quality through innovative systems, that delight customers, requires a number of business dynamics to be in place. We define this as the System of Delivery (SoD). Each of the 7 Dynamics are templates to move the entrepreneur through the 4 steps of learning to the point where they understand WHAT has to be built (Business Development) in their businesses, and HOW it will be implemented. Here an important dynamic is the amount of effort, expense, and disruption a new system will, of necessity, create.
We have coined the saying “build a mud-hut rather than a Cathedral” is a euphemism for building just what your business requires – nothing less and nothing more. This is not imposing some “world best practice” on your already strained and resentful staff, but building with them the system that delivers your expectations again and again. This second dynamic for creating value requires that you dedicate the time, energy, and motivation to work “ON” the chaos rather than “IN” it.
ON rather than IN
Almost every Business Leader comes to us with some frustrations about their business. This is mainly because the business, employees, product, customers, and market place – you name it – does not somehow conform to your vision, what they had originally dreamt it would look like. Could it ever be made to meet my expectations? Could the employees ever be engaged enough to love the business like I once loved it?
The most important deliverable is the concept of working ON rather than IN your business. Through self-management, the time spent in every chaotic area of your business reduces, 30% here, 20% there, to the order that is required. The Entrepreneur, the Manager, and the Technician the 3 personas of a business owner. Richard Branson, the entrepreneur every knows and loves, does not run his businesses. He, as an entrepreneur, has the vision to start them but they are run by qualified managers! Do you find yourself spending the majority of your time in Manager/Technician Mode, where you have rolled-up sleeves and are working IN your business in every area of chaos? Apart from the frustrations of working a long day doing someone else’s work, this is a huge discounting factor in a business. If the owner is so deeply involved that customers will deal with no one else, then the discounting is deep! If the proverbial bus hits you, or if the buyer has to retain you to continue to make the business work, discount is prime! This third dynamic is the most important in delivering future and sustained value.
our Value Statement
will help with YOUR ~ Building a Legacy(™) by;
- attract funding at a premium sell at a premium
- minimise frustration and satisfy your vision
- extract yourself for greater things
- we help you position your business optimally
- together build a relevant SoD ( system of Delivery)
- become redundant so you can work ON rather than IN your business
Are you ready to reimagine your business to serve your life more fully? What would it cost? You could buy a couple of business books on these subjects and start off on the road of implementation; remember those New Years resolutions ~ and how long they lasted? Pretty soon you would be back to what didn’t work in the past and wondering why the outcome is not improving. Put in the time (10,000 hours) and get a caring, competent, challenging, committed and creative, (the 5 C's) business development coach.