|Strategic Planning Information|
How To Kick Start Your Business And Double Your Profits
This will make some people angry as hell, but it's time to debunk the myth of 'Time Management' while sharing the real secret of the super successful.
Let's face it, many so called "business gurus" tell us to 'manage time better' or to become 'ruthless with time' if we want to achieve their level of success.
You cannot manage time itself. It continues along happily doing its thing, whatever you do.
I read countless systems on 'time management' and the majority take so long to implement and keep track of, you get even less done than you did before!
If it's impossible to manage time then manage your actions instead. This is the key to launching new projects, completing existing ones and to at least doubling your current profits without having to do any more work.
Self-improvement guru, Tony Robbins, said "Action is destiny." He's spot on. If you start managing your actions, the impact on what you get done will amaze you.
*** Your 5 Simple Steps To Action Management ***
(1) Write down a master list of actions you need to do which directly lead to income generation.
- I suggest having at least 6 items on your daily action list. Write this up the day before you use it. Depending on how many of these you complete determines whether you need to add more items to the list or whether you need to break the items down into smaller chunks instead.
(2) Set aside between 1 and 5 'Prime Action Hours' every day where you will do nothing except the most important income generating activities. Refer to your master list and immediately cross each item out once it's done.
- During your prime action hours you do NOT: take phone calls, check your email, break for meetings, chat with fellow office workers or read the mail. You need to get current outside distractions to support your new routine. If you run a home office get agreement from your family to only interrupt you in an emergency during your prime action hours.
(3) Get Yourself a Timer and set it to 50 or 55 minutes.
You work without distractions for this long during each prime action hour.
- This gives you more efficiency by making you accountable for what you do in each prime action hour. It also lets you know when to take an important quick break.
(4) Carry a pen and paper or a voice recorder with you during your breaks between any prime action hours.
- During the breaks you'll find new ideas, thoughts and strategies will surface in your mind. The brain often makes new connections as you relax after a very focused session. Make sure you jot them down to record them. You'll find them invaluable. Don't neglect to do this, an unrecorded idea is usually lost forever.
(5) Set yourself a weekly income target. When you reach it, reward yourself how you like. You don't need to do any more prime action hours for the rest of the week. Revise your weekly income target upwards at least every 90 days.
- Having a weekly target gives your prime action hours a specific goal to achieve. Purpose is the most important ingredient when it comes to action.
Remember you need to concentrate on other aspects of business like meetings, staff interaction, emails and phone calls etc. In some businesses it's realistic to do a maximum of five prime action hours each day without impacting too much on the other necessary parts of the business.
Some people will only manage one prime action hour each day. That's okay. Over a year this will still amount to an enormous difference in income generation.
Don't make the mistake of dismissing or forgetting what you just read. There's real power in this quick and easy 5 step action management system.
In fact I urge you to start right now. Get out a piece of paper and write down your master list for tomorrow. It doesn't matter if you can only manage one prime action hour to start with. You can increase the number as you create more focus for yourself.
You can also get your hands on an excellent CD today which will give you the correct action mindsets of the super wealthy. These insights will enable you to use this action management system to your full potential.
This wonderful resource is by Mike Litman, the No 1 best selling author of "Conversations with Millionaires".
Here's the best part, it's currently still free. (there's only a small shipping charge to cover)
Warning: I do feel Mike starts the CD with a little too much motivational hyping, however what followed blew me away. I consider these insider tips from the super wealthy equal to pure gold when it comes to kick starting yourself and your business.
Obviously Mike won't continue giving his CD away forever so I strongly advise you to get it now to avoid having to pay for it in the future.
Grab it from here -> http://www.greatness-held-hostage.com
It gets my highest recommendation.
Copyright 2004 Clifford Mee
About The Author
Clifford Mee is an author, internet marketer, hypnotist and success life coach. If you want to discover little known 'battle tested' strategies to persuade more customers to spend more money more frequently, then please visit his main website at http://www.marketingpersuasion.com
How To Get More Business During The Winter Months
Business seems to drop, slow or even stop during the winter months. As tourist traffic slows or stops during the winter months so does the incomes of many local business owners. The first step in overcoming this problem begins in your brain (don't they all?)
In Business Planning, Competition is Good
When developing the competition section of your business plan, companies must define competition correctly, select the appropriate competitors to analyze, and explain its competitive advantages.
How to Grow Your Business by Clearing the Way to Growth
Is your business growing as fast and effectively as it could, or is it stuck at the same level it has been at for years? Research (Larry Greiner, 1972) has discovered 5 specific stages of business growth. Most business never grow beyond the second level. At this level, the business is characterised by a small group of owners (if not a sole owner), supported by a small team of people at an operational level. This describes the 90 plus percent of businesses, which have 10 or fewer staff.
Water Conservation and Water Issues for Mobile Car Washers and Auto Detailers
Obviously, there will never be an actual water shortage since two-thirds of our earth's surface is water. The problem is distribution. One problem is getting water to the desert before it evaporates. And why do people plant lawns in Las Vegas? Another problem is that people and plants and animals need fresh water not salt water. Fresh water comes from rain and salt water comes from our oceans. So how do we separate out the salt from the ocean water? The method called desalinization works best. But this isn't free. It costs an average of $3.33 per unit of water. Almost double what you pay from your tap at home. As Las Vegas, Phoenix, Los Angeles, Riverside, etc. expand, we will get into a supply and demand situation. When the price per unit of water reaches $3.00 plus, we will then be able to afford to build adequate infrastructure to handle our water needs through desalinization. The cost of the new infrastructure can be amortized and paid for by us on a unit of water level.
The Power of Planning
I am surprised how few sales professionals, independent consultants, and small business owners take the time to plan the strategy for their business. Most people spend more time writing out a grocery list or planning a vacation than they do planning the direction or outcome of their business. Many will determine a vague or general idea of what they want to accomplish but very few actually identify the specific action steps they will need to take in order to achieve their goals. I'm not suggesting you create a 25-30 page business plan like a good friend of mine writes every year, but I do recommend that you begin outlining the goals you want to accomplish and how you plan to get there.
Business Problem Solving
Is there really anything as a problem? Does chaos or challenge mean you have a problem? I am under the belief that such things as other call problems are indeed the life-blood of opportunity and the louder it knocks the greater the gain. Embrace chaos. In my many years in business I loved a good challenge; let me recommend a good audio book incase you find yourself embattled with what you believe to be insurmountable problems:
The 7 Critical Steps to Formulating Your Annual Strategic Business Plan
Businesses tend to avoid doing their annual business plan thinking that it is an arduous task that does not accomplish much. Formulating your annual plan is, however, critical to your business success and if done correctly should be quick, easy and generate bottom line results.
Expanding your business in a franchise system
If you are a successful franchise of a large franchise brand or chain, chances are you will wish to expand. The most important thing to do is make sure you are on the most positive terms with your franchisor. You should tell your franchisor at the earliest point of your plan to expand. It is important that you ask the franchisor for help when you are expanding. Growing your business is not an easy task. It requires systematic checks of your business. The kind of checks your car does electronically such as sensors telling you:
More Uses for Your Business Plan
You have invested a lot of time and energy on writing a business plan just to get a loan or to attract an investor. What do you do when you get the money or, worse, should you be turned down?
Turning On The Lights
Fun From The Start
ACTION PLANNING: Action Planning is a process to develop strategies for changes in the organization based on an analysis of the problems which precipitate the need for change. It is a collaborative method of planning which involves the people working in the organization and permits the people who will be influenced by the decisions and change to have influence on the product or outcome. Action Planning assumes that people will support that which they help to plan and create. Unless those involved are committed to that which they are changing, the plan does not have much hope for success. Recent studies indicate that employees who are a part of the planning and problem solving/decision making process will take on additional organizational responsibilities to implement the plans.
Designing an Efficient Distribution System
Let us look at a few of the big distribution networks in the US that we use today. The US Post Office for instance is a huge complex chain of symbiotic relations ships with vendors to deliver by truck, work with FED EX for air, previously that airmail idea started commercial aviation. The reason it grew big and evolved so well is because of the special teams and companies and individuals from the first air mail carriers to the Wells Fargo Coaches. A much better system than Paul Revere; although he was very simple with only two possible signals 1 or 2 "if's" scenarios. Let's face it 1's and Zero's or 1 or 2 ifs are different than today.
For Business Owners Only - You Can?t Be Fired But Neither Can You Quit
The decision to sell, or not to sell your business is a difficult one. There are many questions that need to be answered before an informed decision can be made. Is selling your best alternative? Will one of the kids want to take over the business? Timing is everything. Is now the right time? You do not have to sell or decide right now. You are quite busy so maybe you will look into it after. . .
8 Ways to Earn More Without Working Harder
Conventional wisdom has it that there are only three ways to grow your business: find new customers, increase the amount of each sale to existing customers or get customers to buy more frequently. But I've seen business owners go blank when presented with those three options. So here is a more useful list of ways to increase your total revenues without in most cases having to put in more hours at the office.
Will and Vision
Remember Chux? The disposable diaper that took the market by storm in 1932?
Restaurant Startup - Part 1: Market Research ? What are Potential Competitors Doing?
The first step in starting a restaurant is proper planning. One must lay out a plan complete with goals, priorities, and the tasks that he will need to complete in order to achieve these goals. The biggest mistake first time restaurant owners make is improper planning. Ambition, while absolutely required, is simply not enough to succeed in the highly competitive food service industry.
How to Develop a Successful Board of Advisors (...and Why You Should!)
In today's rapidly changing and highly competitive markets, many privately held companies are creating outside advisory boards to give owners and CEOs fresh, knowledgeable advice. Even for small businesses, setting up an advisory board can give you a significant advantage over competitors that are relying solely on internal talent. An experienced and well-connected board of advisors can help your business grow and prosper in ways you've never imagined. What is a Board of Advisors? An advisory board is an outside group that is informally organized to provide business owners and corporate leaders with support, advice and assistance. While formal boards of directors have legally defined responsibilities and fiduciary duties, advisory boards have no formal power or binding legal authority. They serve at the pleasure of the business owner or CEO. Benefits of an Advisory Board There are several advantages that companies with advisory boards have over their competition. A board offers your business: An unbiased outside perspective. Increased corporate accountability and discipline. Enhanced CEO and management effectiveness. Greater credibility with investors, vendors and customers. Help in avoiding costly mistakes. Rounding out skills and expertise lacking in current management team. A sounding board for evaluating new business ideas and opportunities. Enhanced community and public relations. Improved marketing results and effectiveness. Strategic planning assistance and input. Centers of influence for networking introductions. Crisis and transition leadership in the event of the death or resignation of the CEO. Help anticipating market changes and trends. Steps to Creating an Effective Board of Advisors: Analyze the strength and weaknesses of your current management team. Look for critical areas of expertise and knowledge that your company could use help with such as marketing, legal, finance, eCommerce, and research and development or information technology. If your company is planning on going public within the next few years, seek out advisors who have successfully taken companies down that path. Set clear, written goals and objectives for your board of advisors. Getting maximum value from a board of advisors begins with clear objectives and goals. Board members must know why they have been asked to serve and what is expected of them. Before establishing the board, the CEO and senior managers should sit down and ask some of the following questions: 1. What are the main areas we need advice and guidance in? 2. What specifically do we need the board members to do for us? 3. Who are a few potential candidates for board membership? 4. How do we avoid giving away too much control to outsiders? 5. What will be the powers and limitations of the board? 6. What will setting up the board cost initially? Annually? Will it be worth the cost? Determine the size and structure of your board. Advisory boards range in size from two members to over thirty. The right size depends on many factors, such as your company's size, complexity, stage of development and individual skills needed. My experience and research has found that for most small to mid-sized, growing companies or start-ups, a 5 to 7 member advisory board is an ideal size. Smaller firms can start with just one or two members and add new members as they grow. Recruiting Candidates Determining whom you invite to join your board is one of the most critical decisions in setting up a board of advisors. Often a business owner's first instinct is to ask friends, family members or professional advisors to sit on their board. This is usually a mistake. Unless your friend or family member is a recognized authority in an area of expertise lacking by your management team or a highly successful entrepreneur, they are probably not the wisest choice. Another reason to avoid asking family or friends to join your board is lack of objectivity. Often advice from a friend, family member or management insider is sugar coated to protect relationships. An outside advisor can give you a much more objective and honest assessment of the situation. Using professional advisors such as your lawyer, banker or accountant as board members has it's own pitfalls. These advisors are already working for you and may not be as objective as you need, due to having an interest in generating future business from your company. Some critical action steps for recruiting a dynamite board of advisors are: Develop a candidate profile. After you have determined the areas of expertise your company is in need of, create a profile of candidates that successfully fit these needs. Take care to address knowledge and skills that your company will need to meet projected growth and future challenges. Seek out experts. Search online and offline for experts and proven leaders that meet your candidate profiles. Contact them and begin discussions about possible board membership. Ask for recommendations. Solicit recommendations from the experts you speak with that cannot serve on your board, of collogues of theirs that they feel would be a good fit for your needs. Begin networking with your attorney, accountant and other professional advisors. Once you have successfully recruited an advisor, he or she can often lead you to another good candidate. Find your candidates motivation. Most of your candidates are not going to be motivated by money alone. In fact, if money is their primary reason for joining your board, they may not be what you are looking for. The most effective board members are motivated by the challenge and intellectual stimulation of building successful companies. They serve because they are already high achievers and enjoy the challenge. Have variety in your board. Try to include experts and successful entrepreneurs from several different disciplines. Often board members who are successful marketers, CEOs and business owners from different industries can bring a fresh perspective to your business. These individuals can often help you incorporate best practices from other industries, into your own industry, creating revolutionary changes and opportunities. Look for a proven track record. Find the leaders in their field. The best board candidates are successful CEOs, business owners, professionals, university professors and consultants who have achieved success in their own businesses and careers. Clearly communicate your goals and objectives. Invest time in talking to and meeting with potential members. Communicate to them what your goals and objectives are. Let them know that you are not looking for "yes men" and that you want advisors who will challenge you and hold you accountable for your businesses growth. Board Compensation Board members expect and deserve to be compensated for their time, efforts and advice. Typical advisory board compensation includes a stipend from $5,000 to $25,000 per member, per year. Some companies pay their board members per meeting, with payment ranging from $500 to $3,000 per meeting, with a monthly retainer of $500 to $2,500. Companies should also cover transportation, meals and lodging for members when attending meetings. Most successful boards also give or require members to buy stock or some form of equity in the company. This gives the board members equity participation and a vested interest in the growth of the company. Pitfalls to Avoid Some potential problem areas to avoid when setting up or working with your advisory board are: Members missing meetings. Because board members are usually running successful businesses of their own, they may not always be available for every meeting. However, board members should be made aware that attendance of board meetings is important and expected. If a member is chronically absent, the value of their membership on the board should be reviewed. Insecurity of senior managers. Some company insiders may feel intimidated or threatened by the involvement of outsiders. The CEO or owner must make every effort to communicate to his staff the benefits and importance of having a board of advisors. Incompatible personalities. This is a challenging situation, because most members of your board will be strong willed, achiever types, who have gotten where they are by taking charge. Many will have strong convictions about their opinions and may find it hard to defer the leadership of the meetings to the CEO. You must determine when a member's personality is "too strong" and becoming disruptive. Excessive number of board members. Because of their strong personalities, if you have too many members on your board, the more assertive members often dominate the debates, depriving you of the contributions the quieter members may have made. Lack of CEO communication. Withholding company information or not regularly communicating with the members of your board of advisors destroys trust and effectiveness. Regular communication between meetings is essential to maintaining an effective board. Inadequate compensation. As I mentioned, you do not want compensation to be the determining factor in a candidates membership on your advisory board, however successful individuals of the caliber you seek expect to be fairly compensated for their time and knowledge. Keys to Board Effectiveness If you build it, use it. Owners and CEOs who invest the time and money in creating a board should be committed to soliciting and using its advice on important issues and decisions. Value their input, even when they disagree with what you want to do. Sometimes a board is at it's most valuable when it recommends against a course of action the CEO wants to take. If you recruit a good board, often they have already been down the path you are on, and their experience (and past failures) can help you to avoid costly mistakes. Communicate with your advisors. Keep the members of your board informed about what is happening in your company and industry. Counsel with individual members on the phone at least monthly and send them information well in advance of your meetings, to help them prepare and keep the meetings productive. Hold regular meetings. Most boards meet once per quarter. However, boards should meet more often during times of rapid growth or if company needs merit additional oversight and guidance. Have an objective for each meeting. Your board members are busy people and their time is valuable. Make the most out of your meetings with them, by having a clear agenda and objectives for each meeting. Make sure to cover the most important items of business first, in case the discussions take longer than planned or some members have to leave early. Annual assessment of board performance. Periodically assessing the board's effectiveness is a critical factor in ensuring a good return on investment. Each year the board should set performance goals and define their criteria for success. At the end of the year the CEO and the board should assess it's performance, compared to its goals and criteria for success. Over 80 percent of all private companies are operating without a board of advisors or board of directors. Odds are your competitors do not have one. Because of this, developing a board of advisors can give your company a distinct advantage over your competition. This is particularly true for start-ups and family run businesses. There is tremendous value in receiving objective, knowledgeable advice from a board of advisors who share in the financial and equity growth of your business. I encourage you to begin recruiting your advisory board today!
Consolidation in the Software Industry is Hardly New: Obsess About It or Risk Losing it All
Some analysts credit [Larry] Ellison with anticipating the consolidation in the enterprise software industry and leading the charge. Ellison 'called a major shift in an entire market, which was impressive.'(1)
Regroup - How To Do It And Why It Works
Regroup?is this a new management trend? Not a chance! Regroup is simply an opportunity to end one month's business cycle, recap the performance of your company and outline a plan of success for the new upcoming month. Why does it work? Because it allows each person on your team to assess their performance from the previous month, and make any necessary adjustments for the new month. Here's how it works:
Abstract Thought; Business Strategies and Biological Systems
To stop a computer virus you must understand how it works, grows and what it's innate purpose is? What is its program, evolution and future vectors. The fastest way to expand a business or exploit a competitor on a sports team is to use the organizational patterns of nature like swarms, ants, and viruses. The human body is has a good defense mechanism against an organic virus, it is bigger with a strong immune system
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