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Evolutionary Business Design

There is no perfect plan, so now what?

Things won’t always go according to plan.

Sometimes unexpected things happen to throw you off the rails.

You could spend a lot of time and energy kicking and scream “it’s not fair”, “it’s not my fault”, “everything’s ruined” OR you could do it differently.

I was talking with a new client the other day who told me he’s scared to fail. He has high expectations of himself and was taught that failure is bad and you should always avoid failure.

We tossed the idea around for a while. I asked him about the things he’s done in his life that he considered successful. Did he know exactly what he was doing each time he set up a business or took on a new client, bought stock, employed people?

“No, I made some mistakes”. He said, “I had to learn how to do things.”

Failure is not what you think it is. There is no value judgment. It’s part of the learning process. When a baby starts to walk we don’t tell him he’s bad every time he falls down, we don’t stop him from getting up and trying again.

I watch my baby grandson mastering walking. He falls over a lot. He used to cry when he fell over, now he just picks himself up and accepts that the falling is all part of the learning.

So, when things aren’t going according to plan, what do you do? Fall over and never get up again?

I’d bet that you usually get up and give it another go or find another way.

Your first plan is just that. Usually a first rough draft of where you want to go and what you want to happen. You might not know it’s a rough draft. You may not have allowed for “Planned Spontaneity” – the things that are going to happen outside your tight control and “Planned Synchronicity” where things will happen in their own right time.

So, let them happen. Just because things aren’t going according to plan doesn’t mean disaster is about to strike. It just means something extraordinary is happening beyond your control. Sometimes you might not like what happens; don’t believe everything should be easy and fun. I’ve usually found that the most painful mistakes were my best lessons and often, years later, I learn why it happened.

Whenever I plan, I set my intention for what I want, being as specific as I can (because you have to be careful what you ask for – you just might get it!) When I’ve finished my plan I ask for the result I want then include… “or something better.” Oddly enough I usually get the “better” outcomes!

Give it a go. You have everything to gain.

Ignoring these financial indicators could cause serious risk to your business!

There are tell-tale signs in your business that will give you an indication of how you’re tracking. Is business up or down? Are we making money or not?

You’re profit and loss statement is a good place to gather this vital information. Here are some things to watch out for:

  • The obvious one is – tracking your sales. Are they going up or down? Have they flat-lined?
    • Compared to what? Last month? Last quarter or last year? How similar were the conditions in that period? Are you comparing apples with apples?
  • It costs you more each month to deliver your products or service: Track your Cost of Sales. Up down or sideways? Do you know why? Buying too much product or your team not being productive enough could be the cause.
  • Your Gross Profit and Net Profit go down and your fixed expenses go up! Track them using the same method and fix this fast!
  • You only look at the “bottom line” of your P&L report. The numbers look OK but you don’t know how the business is trending. Don’t just track the NUMBER, track the PERCENTAGE of turnover.
    • E.g if you made $500k in Sales (turnover) and a 10% net profit you would have made $50,000.
    • If you made $50,000 Profit on $600k turnover you would have made 8.3% profit. If you watch that % month by month you can see what’s happening to your profitability. Track the % to see if it is going up down or sideways.
  • You take the profit as your unofficial “salary”. If you haven’t formally paid yourself a wage or salary it won’t appear on your P & L, so if your pay comes out of the profit and you take it all, you won’t have anything left for tax or growth or emergencies. Talk to your accountant about this and do a budget.

Learn to love the numbers! They are your friends. They can help you grow your business and they can prevent you from getting into trouble.

Is your Role in your business missing the Joy Factor?

“What’s the thing in your business that gives you the most joy?” I asked.

“There hasn’t been any joy around here for a long time” he said. “I’m just putting in the work so in 5 years’ time I can retire and then I’ll enjoy myself.”

He looked deflated at the prospect of 5 more years without joy but he felt powerless to change the business that gave him a reasonable income; it was familiar work even though it was no longer engaging and exciting him. He’d backed himself into his own corner, because he hadn’t stopped to think about what he was doing.

“Oh no, that’s not how it’s supposed to be,” I thought, his resignation washing over me like a wave of grief for what he was giving up in order to make a living.

This conversation actually happened word for word with a prospective client, and I hear it too often in various formats from business owners who’ve lost their way. Work has become something they grind out daily in the hope of a brighter future, but no actual plan.

It definitely does not have to be like that.

In fact, it’s easier than you think IF you alter your perspective a degree or two and give up a few things you’re doing now in order to get the joy back.

Before you start resisting, know this: people have all sorts of reasons and excuses for why they can’t do things. They even blame other people! What’s rare is a person who is willing to work out how they CAN do things and take responsibility for it.

If you are one of the rare people here’s what you’d do:

Make a list or a mind map or a chart of all the things you do best in the business. Not just the things you CAN do but the things you do better than almost anybody.

Now, get real with it. For each item ask these filtering questions

  • “If I never did this again in my life, how would I feel?”
  • “If I did this for the next 5 to 10 years, how would I feel?”
  • “What would happen if I decided to delegate this or teach it someone else to do?”
  • “Will the world end or will somebody die if I don’t do this?”
  • “Is there something I’m not doing that I passionately want to do?”

Separate your lists into 3 categories:

STOP doing

START doing

CONTINUE doing

Your “stop doing” list can be delegated…

…OR you could change the nature of your business so that those things are NO LONGER NECESSARY.

Your “start doing” and “continue doing” lists should contain your joy and your genius. If not, filter it again. Rinse and repeat until you feel the wellspring of joy inside you.

Enjoy!

How to work smarter not harder this year

I walked into a hardware store one day.

There were 3 or 4 people standing behind the long counter and another 3 or 4 people in front of the counter waiting to be served. One bloke behind the counter looked like he was running rings around all the other guys– he was serving all the customers while the others stood idly by.

“He must be the guru.” I thought.

“Can I help you?” asked one employee.

“Yes, can I see the boss please?” I asked.

“Yes, that’s him” he said pointing to the guy doing all the work (without even asking what I needed and if he could help instead)

What’s wrong with this picture?

Can you see yourself in this scenario?

Business owners shoot themselves in the foot all the time by trying to do everything in their business. I’ve heard business owners variously describe themselves as “Chief Cook and Bottle-washer, “Trouble-shooter” and even “Dogsbody”. Some business owners even clean their own premises to save a few dollars – please tell me that’s not you!

If you feel like your business is dragging you down and you never seem to be getting to the good stuff it’s probably because you take on too much. For whatever reason, you’ve justified putting yourself in a position of power then undermined it by attempting to do everything yourself.

So, how are you going to get to the good stuff you want to do?

First of all, do you know what the “Good stuff” is? Have you actually defined what it is? You know there’s something … you just can’t quite put your finger on it, but other people seem to be having more fun and getting better results than you.

Or maybe you do know what you want but not the steps to get there – it seems too hard. Maybe there’s some fear and doubt and financial issues you have to tackle first, so it’s just easier to keep looking and being busy, (although it’s not very fulfilling) and every day is Groundhog Day. .

In order to work smarter you’ll need to know what it is you’re aiming for and what your particular role is in making it happen. This might take some courage and deep thinking – and delegation!

First of all – there is no such thing as a “good all-rounder”, so stop trying to be one.

You have natural talents and strengths you probably haven’t even tapped into yet.

Find the NICHE that suits your talents and makes you happy.

If you’re good at the technical work of your business like being the designer, accountant, mechanic or brain surgeon, then do that thing, but don’t keep it to yourself, hire and train other people to do it even better than you so you can expand the business.

OR – if you don’t want a large team and you are happy to be the technical person, focus on being the best brain surgeon you can be and get other people to do everything else; all the admin, marketing, sales, management and other parts of your business. Your hourly rate will be much higher than these people. Hire a great business manager or practice manager. Hire a great Personal Assistant – do whatever makes your job easier.

Remember to keep it simple and streamlined.

Find a MARKET that suits your talents and makes you happy.

When you work with clients or customers you like and you’re doing work that is your pure genius, then work doesn’t seem so hard, you’ll enjoy it more. Work becomes more harmonious – you have better capacity to deliver and the clients are less demanding, more flexible and understanding.

All clients are not created equal. It’s absolutely NOT true that “any client will do, as long as they pay.” Working smarter means choosing your clients; you’ll get paid on time, have fewer complaints, less re-work, fewer price shoppers and happier employees.

Be self focussed

The smart thing to do is look after yourself first, be a little selfish. If you fell over what would happen to your business?

There’s nothing wrong with drive and determination unless it becomes obsessive. Check your level of obsessiveness about your business. If it’s making you tired and sick it’s time to back it off a few notches.

Take a break, breathe. Not everything is urgent and important. Read Stephen Covey’s “The 7 Habits of Highly Successful People”. Apply what you learn, especially the part about sharpening the saw.

Seth Godin says “Do work worth doing”. Are you doing just enough to get by or are you really making a contribution? Do you need to change a few things? Stop being efficient – start being effective.

Work in your genius – Roger Hamilton’s Wealth Dynamics Wealth Profiling will help you discover your personal genius so you can work in flow.

Above all, give yourself time to do things. Set goals, break them down to small manageable bites, determine what your genius contribution towards achieving the goal will be, then work out who will help you.

Enjoy!

Discover your path to wealth by working in flow with your Natural Genius talents

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Wealth Dynamics in a nutshell

Many people think that there are hundreds of routes to wealth. With Wealth Dynamics, you’ll see that there are actually only eight paths to wealth and that one of those paths is the correct one for you.

These paths are highlighted by the successful people who have achieved wealth through following their natural path. This is to say, they found the wealth dynamic match that suited their talents.

Could you imagine Richard Branson as a footballer, or Bill Gates as a fish monger?

No, they discovered the talents they were born with and capitalized on them. They followed a path that they loved, their path of least resistance and they excelled at it. Wouldn’t you like to find your path, benefit from your natural strengths and excel?

Let’s take a brief look at each of these eight wealth profiles…

The Creator

The Creators can’t help creating! They are good at creating profitable ideas and businesses, but not so good with the day to day running of a business. Successful creators will delegate everything, except the creative process. Example: Walt Disney

The Mechanic

Mechanics are perfectionists who like to finish things, rather than create them. They want to make everything better – fine tune them. Example: Henry Ford.

The Star

It is easy to spot a star. Obviously, you have film, music and sports stars, but high profile CEOs can also be thought of stars. They rely on the strength of their personality and are aware of the pressure of always having to deliver. Example: Oprah Winfrey

The Supporter

Supporters are great networkers with loads of energy and enthusiasm. Their greatest wealth can be achieved when they join forces with a Star, Creator, Deal Maker, or Mechanic. Example: Steve Ballmer

The Deal Maker

A deal maker relies on relationships, connections and being able to react intuitively when the best opportunities present themselves. Example: Donald Trump

The Trader

A trader is someone who naturally hunts out bargains, naturally loves haggling and gets immense satisfaction from a great deal. They are equally as good at finding high price buyers. Example: George Soros

The Accumulator

Incremental growth is the key to this wealth dynamics profile. They are patient, disciplined and will stick fast to a successful system. Example: Warren Buffet

The Lord

The Lord likes to control everything. You can find a lord where there are fixed assets generating cash. They don’t want attention like the stars and like to create wealth quietly. Example: Ingvar Kamprad

These carefully thought out profiles are the result of years of studying the approaches of hundreds of successful wealth creators combined with Chinese philosophy.

Knowing which of these wealth profiles is yours, is like having the keys to the vault of the Bank Of England.

More than 250,000 entrepreneurs have already found their true profile and are discovering, with amazing clarity the direction towards true wealth for them.

Would you like to join them? CLICK HERE to take the test.

Pauline Bright is an accredited Wealth Dynamics Profile consultant. To book a Debrief and Discovery session once you’ve done your profile, please email support@brightbusiness.net.au or call 0413 739 196. You’ll find out how to use your profile in your current business or situation and what is the right path for you to follow.