Managing Competing Priorities
One of the greatest problems that small business owners face is working out where to focus their limited time.
It seems that the list of jobs that need to be done is endless and our time is limited.
Often, we set aside the time to work on the business, then “stuff happens”. We get distracted from our obligations so that we can put out spot fires.
The truth is, it becomes easy to focus on the next problem, rather than finding solutions to stop the problems from popping up.
I have been guilty of this myself, there was a report that needed to be done or a system that needed documenting, and suddenly I was off resolving a crisis. When someone asked “have you got the report completed or system in place”, would say “all hell broke loose and I didn’t have the time.”
It was true, all hell had broken loose, and it seemed to always be breaking loose. I had simply found a way to avoid doing what didn’t interest me. Surely you can think of a time you have done the same thing?
The problem, I found, was that it was all of the jobs left “undone” that kept me awake at night.
Here is how I overcame it; maybe it will work for you too.
1. I set reminders in my Outlook to go off every hour that simply said “Are You Doing What Needs to Be Done?”
2. I closed my office door, diverted my phone and turned off my e-mail and mobile phone.
3. I asked the staff to let people know that I was working to a deadline and could not be disturbed.
4. I put someone else in charge of “crisis management” while I was working on “crisis elimination."
5. I got excited about the change I was creating.
True, it did not work to plan initially and it actually took some time to perfect. Once it became habit, I started to recognise patterns of what was going wrong and develop systems to overcome the problems. I communicated the systems and measured the results, making small changes along the way.
I soon found that I had time on my hands. The team started making comments about how business had slowed, but our sales figures were telling the opposite story. We had simply become better at what we did, so I shared the results with them.
My new found enthusiasm became contagious as the rest of the team were seeing the sales results improve they became busier trying to beat their previous months sales figures.
We started to investigate and introduce new product lines. The team I had around me became known as “The A-Team", they were approached by other businesses and offered higher paying jobs, but it was not about money, it was about the dynamic that we created.
This change is possible in your business; all you need is a plan and a desire to change. If you would like to find out more about how it works, please call me.
Dean Atkins
Small Fish Business Coaching Byron Bay
www.smallfish.com.au
Media Training
I had the pleasure of seeing Joel Roberts speak a few weeks ago in Brisbane. Joel has had a 20 year career as a talk show host in the competitive market place of Los Angeles. Joel now shares his knowledge of how to engage in stimulating conversation that will captivate your audience, who in business are usually our customers.
Joel has a number of tips on his website, video and sound bites, that are all helpful.
I am offering a Red Wine and Chocolate Gift Box delivered to your door for the business owner that can come up with the best “Sound Bite” for their business.
Dean Atkins
Small Fish Business Coaching
www.smallfish.com.au
Search the Corners for Elephants!
I have met a number of business people recently, who are telling me that their business is struggling with the Global Financial Crisis. I must admit, there is a real feeling of slow down in most markets, especially the small to medium sized businesses that I work with.
I am also finding that when I test the evidence of the GFC having an impact on their business, I often find an elephant that is sitting, unoticed, in the corner.
A recent conversation with a café owner was a classic example.
Small Fish: “What is the greatest challenge that you are facing at the moment?”
Business Owner: “The Global Financial Crisis, it is causing people to bring in their own lunches. My sales on rolls and soft drinks are down around 80% on last year.”
Small Fish: “That is a lot of people bringing lunches in, but what else has been happening around that time?”
Business Owner: “There have been roadworks out the front, but they finished a few months ago and people were still able to get in.”
Small Fish: “That would have a fairly large impact. Has business picked up since the work was completed?”
Business Owner: “We have picked up a little, but I would have expected a lot more since our largest competitor closed down a while ago.”
Small Fish: “How long ago did they close down?”
Business Owner: “Around 18 months ago… when the Subway Restraunt opened across the road from me.”
Small Fish: “Ahhh!”
Now, I am not saying that business has not slowed down. What I am saying is that we have a tendency to blame what is happening in the world for our shortcomings, without looking at what is happening in our own backyard for immediate threats.
If your business is suffering from the Global Financial Crisis, I urge you to go out, today, and look at what your competitors are doing. You may find that they have found a smarter way to get your customers in their door.
Dean Atkins
Small Fish Business Coaching
www.smallfish.com.au
Too Young To Retire
I had a chance meeting with a gentleman on the weekend who told me that he was “Semi-Retired”. As the conversation progressed, it became evident that he had been made redundant, from a middle management position, as his company consolidated different departments in a cost cutting exercise.
He not only took a healthy payout from the company, but also a wealth of experience and knowledge. He has been doing a little bit of consulting work, but for the most part, he has found himself wondering what next?
He is part of a growing number of over 55’s that are not ready to stop working, either mentally or financially, but is finding it hard to find employment because of the abundance of people in the same position.
We spoke about the possibility of him going into business for himself, this was something that he had already pondered over, but had come to the decision that he could not gamble what he already had on a new business. I asked him if he had considered looking at a franchise, a business that already had systems, support and a proven record of profitability for its franchisees.
He had heard different stories about franchises and was weary about their ability to deliver on their promises. I offered this advice on looking at franchises;
• Do your homework – There are a lot of franchise opportunities around, research them. There are a number of magazines and web sites that not only advertise franchises, but offer tips on what to look for. A good place to start would be the Australian Franchise Opportunities Exchange web site.
• Stick to what you know – It doesn’t matter if it has been a hobby or a career. Your expertise will position you as a go to person in the industry.
• Do your Due Diligence Without Emotion – Do not get wrapped up in the hype, some franchisors leave you feeling that you have just been to a time share meeting. Check these critical factors;
o What share of revenue does the franchisor make from selling franchises compared to franchisees selling their product? If they are making the bulk of the profits through franchises and not product, they may be more focussed on your dollars than your customers, beware!
o What are the ongoing fees and when do you need to pay them? If you have ongoing fees regardless of your success, or lack of, the franchisor is most likely building an empire out of franchisees, not building a brand out of the products success.
o Why is the Franchisor franchising the business? – What is their vision? Does it align with yours? Do you share similar values?
I will explore franchising in more depth over the coming months. If you need any information before then, please feel free to contact me, or any of the other Small Fish Business Coaches.
Dean Atkins
Small Fish Business Coaching
www.smallfish.com.au
Fit for Business- The Elite Few
Elite athletes make us marvel at their agility, stamina, mastery of their chosen discipline and focus on a goal.
Could you imagine if you could capture each of those disciplines and apply them in your business? Let’s break them down and play with some ideas on how your business can join the elite few.
Agility – We see it on the sporting field all of the time, those super human feats that seem impossible, executed in the heat of competition. The most inspiring are when the chips are down and someone takes a risk that affects the flow of the game.
In business, true leaders and entrepreneurs are recognising the current economic climate as the time to make a stand and change the fate of their business. Sure, there is an element of risk, but if you are slowly watching your business decline, you need to get back on the front foot and challenge the status quo.
Stamina – Think of the epic battles that we have seen in State of Origin or Grand Finals, where all of the players look to be physically and mentally exhausted. Suddenly, someone breaks out of a pack with a sprint, and no one has the energy to pull them down.
A well-executed game plan will ensure that you put your energy into results orientated activity only. This means that you will have plenty of stamina left in your business to leave your competition behind when they feel there is nothing left to do.
Mastery – When we watch the top seed tennis players or the top order batsmen in cricket, they seem to have more time to get into position, select a shot and place the ball exactly where they want it.
It is often said that practice makes perfect, the truth is that perfect practice makes perfect.
If your business practices are not perfect, you run the risk of introducing bad habits into your game. Focus on a perfect execution of everything you do in your business and over time habits will form that makes it appear that you have all the time in the world to execute the perfect business solutions.
Focus – How many times do we see a team, or an individual that is all over the competition, then suddenly a decision goes against them? They argue with the officials, replay the event in their minds and start to run around without purpose. The loss of focus ends up costing them the game.
Often in business, decisions, legislation, compliance laws, etc., change our projected outcomes. We must quickly accept that, fairly or unfairly, right or wrong, a decision has been made that we will not be able to change. What we can do is review our plan to allow for the changes, then go back and stick to it.
Finally, all elite athletes have room for improvement. They work with their coach to identify their strengths and weaknesses, then seek motivation from their coach to push through the tasks that they do not enjoy.
Your business also has room to improve. If you are avoiding the tasks you do not like, or struggling to identify ways to improve, it may be time you got a coach to help you join the Elite Few.
Dean Atkins
Small Fish Business Coaching
www.smallfish.com.au
Can You Learn Entrepreneurialism?
Do you know what Bill Gates, Steve Jobs, Richard Branson, Coco Chanel, Michael Dell, Walt Disney, Mary Kay Ash and Henry Ford all have in common?
Not one of them has a tertiary education.
My Google has been running hot while I have been searching for a hint of what makes these people tick. The only thing that I have found is that they have each challenged the conventional. They did not say, "there is no precedent so this cannot be done."
They were daring enough to dream, yet dreamy enough not to recognise conventional boundaries.
One article I found speaks about universities offering courses in entrepreneurialism.
What skills could be taught to turn you into an entrepreneur? Can you teach someone to dream, believe in their dream and never let anyone tell you it will never work?
I was once told by the founder of a very successful company, “I don’t know how to do anything here. I employ people to turn my ideas into a product. In a way, everyone that works for me is smarter than me… but I am richer than them.”
I tend to think that an academic background may have discouraged the willingness to take risks for these people, whereas a strong mentor would have been able to help them get things done, leaving them free to dream.
Dean Atkins
Small Fish Business Coaching
www.smallfish.com.au
What Will A Business Coach Bring to My Business?
I have had an amazing week of networking and meeting business people in the Northern Rivers. What has been really interesting is the different views of Business Coaching.
I was in a store, in Ballina, that had a shelf full of small business awards. I asked the woman working there what they did so well to earn all of the awards, her answer was that she hired a business coach around 18 months ago. With a fair amount of professional interest, I asked if she would recommend business coaching to other businesses. “Of course I would, the three most successful businesses in this street all have business coaches!”
Also last week, the Small Fish Directors, Jon Dale and Kristian Reiss, attended the annual conference of one of Australia’s best known franchises. The franchisor pointed out to them that they had noticed that some of their franchisees were hiring business coaches on their own. When they looked at the success of their business, the franchises being coached were more successful than those that weren’t. The franchisor saw the opportunity to introduce coaching to the remainder of the business.
Finally, I was at a Home Business Networking Function where there were a number of key note speakers. Unbeknown to me, the marketing business owner that I had been speaking to prior to the meeting was an internationally acclaimed speaker. In his key note speech, he mentioned that he had met me and told the audience, “Those of you here that do not have a business coach, GET ONE!”
In light of all of this happening, I still meet people that tell me that they cannot afford a business coach. If you are currently in that mindset, I invite you to ask yourself; Can you afford not to get a business coach? Where will your business be if you do not act now and your competition does?
Dean Atkins
Small Fish Business Coaching
www.smallfish.com.au
Lessons for Business From the World Cup
As the Spanish celebrate, and the rest of us commiserate our team’s losses at the Football World Cup, it is a good chance to look back at some of the lessons that we can take forward into our businesses.
• New Zealand’s undefeated run against Slovakia, Paraguay and the reigning world champions Italy showed us that a team that works for each other, toward a common goal can hold its own against a team of stars looking for personal glory.
LESSON- Look at your team, who is working for the glory of the team, and who is working for themselves?
• The infamous “Jabulani” ball caused a lot of controversy for its unpredictable movement. England, Algeria and Slovakia all criticized the ball after losses. The problem is, the winners played with the same ball.
LESSON- Legislation, the GFC, and a raft of other issues means that business landscape is often changing., The businesses that recognise that their competitors have the same limitations to work around then adapt the fastest, are usually rewarded.
• North Korea, isolated and closed to most of the world, were embarrassed by a 7-0 loss to Portugal, while South Korea, free
trading and open to new markets, played great football.
LESSON- Get to know your competition, learn from them, and leverage off of them.
Obviously, there are a million parallels that I could compare between the world cup and business, but the most important one, to me, is that each team had a Captain and a Coach. The Captains role was to be in the thick of things, feeling how things are going and leading by example. The Coach identified the skills needed, the resources available, and came up with a strategy to overcome each hurdle. Diego Maridona, possibly the best know footballer in history and Argentina’s Coach, may have loved to have been on the field, but his role as coach allowed him to look at the game objectively, while his football career fuelled his passion and understanding of the game.
LESSON- A lot of great business people may miss opportunities or threats by being so involved in the business of doing business and the best coaches are often passionate players. If you are unable to look at your business from an objective point of view a Small Fish Business Coach can help.
It was a long road to the World Cup, with three years of qualifying matches just to get there. Your business success will not happen overnight, but if you start preparing now, who knows, you could be the best in the world!
Dean Atkins
Small Fish Business Coaching
www.smallfish.com.au
SME Revenue Grows with Social Media
According to a poll taken by Melbourne IT eBiz Review, small businesses
using social media to leverage online business are likely to achieve
greater revenue.
This is great news for those of us with a SME and a social networking addiction!
Click here to check out the full article that was listed on news.com.au.
Dean Atkins
Small Fish Business Coaching
www.smallfish.com.au
Are You Part of this Team, You Goose?
I love this video! I have used it a number of times in team building exercises.
Show it to your team and gauge the response.
Follow this link to watch this inspiring video that was posted on YouTube by WarWear productions.
Dean Atkins
Small Fish Business Coaching
www.smallfish.com.au
