Business Development – Page 6 – Pauline Bright Business Coach

Fake it ’til you become it

I’ve always been a big fan of the “fake it til you make it”
method of dealing with new situations and being outside my comfort zone.

And I know from experience that your body language tells far more that your words, so thank you Amy Cuddy for adding scientific evidence that not only can your mind change your body, but your body can change your mind…not just “fake it til you make it” but “fake it til you become it”. Your body language
shapes who you are.

Click the picture or this link http://www.youtube.com/watch?v=Ks-_Mh1QhMc&w=180&rel=0 to see the video Amy Cuddy: Your body language shapes who you are

These are my own “confidence secrets”… Try these simple postures next time you need to feel more positive and more powerful: (Best done in private before you go into a meeting or start your day)

1. If you’ve struggled out of bed – strike the gymnast’s pose – the one they do after they’ve finished their routine – legs together, arms up and spread wide, chest out head up and look up. And if you feel slightly ridiculous, you’ll at least get your day off to a better start with a good laugh!

2. The winning runner’s pose – same position as the gymnast pose but
running like you just WON the race.

3. The “I love you this much” pose – stand up – spread your arms as wide as you can, stretch your hands out and get ready to receive…

4. The Wonder Woman pose – watch the video – the picture says it all.

These ones you can do in public… in fact I highly recommend them for when you’re out networking, when you’re giving a presentation on stage or talking in a group, making a sale…

1. Stand tall – get your feet grounded, legs slightly apart, arms comfortably at your side of loosely hold hands at waist height, head up like you’re attached to the sky, shoulders back…breathe and smile

2. Sitting pose – same as above – not slumped in a chair

3. Walking pose – same as standing – move confidently.

This is pretty easy for an extrovert. For introverts, practice it in your mind until you
are more comfortable with it – then give it a go.

Observe the results and let me know how it goes 🙂

Game ON

Is it time to play in a different league?

If your business were a game what league would you be playing in?
• Little league?
• State Tournaments?
• National Championships?
• Olympics or World titles?

Being honest with yourself, are you playing the game of business at the level you want to play at?

It could it be that you are taking your talents and skills and experience for granted and it is time to step up and play a BIGGER game!

WHO you pitch your business to may be an indication of the level of your confidence in yourself to deliver an outcome.

One Size DOESN’T fit all! Your business is NOT for everyone.

You may find that attracting “little league” customers who are not able to pay you what you’re REALLY worth is affecting your ability to make decent money, which in turn makes you nervous and erodes your confidence in yourself to run a successful business.

It’s hard to stay positive and motivated when you are struggling!

Here’s what I’ve discovered…

If you change your thinking about the game you’re playing, you can offer the same product or service to different levels of customers at different price points:

For example, a talented hairdresser can serve the local cut and colour market OR be a celebrity hairdresser to the stars. Same skill set, different market, different level of self-belief or desire.

Like having Bronze, Silver or Gold categories of customers
OR
• DIY – do it yourself customers who prefer to do it themselves
• DIWM – do it with me customers who want some help
• DIFM – do it for me customers who want you to do it all for them

However that translates to your business, you can decide the “mix” of customers that you want – or only focus on ONE category.

Work out what is high FUN and high PROFIT for you and you never need to
struggle again.

If you want to play the game at a higher level, what level will you choose?

Are you running a Practice or a Business?

This may come as a revelation to you, especially if you’ve been running your Practice as a Business.

Here’s where things get much easier for you!

What’s the difference?

A specialist Practice is one in which YOU are the main player – it relies on you being the expert at what you do like being an accountant, a lawyer, consultant, coach, health care professional etc. You do the bulk of the work because that is what you like to do. You employ other people to handle the admin, bookkeeping, marketing and sales when you can afford them. Usually a Practice is bootstrapped by the owner that is, re-investing earned income back into it.

A Practice can feel like a job however if you love direct contact with your clients and seeing first-hand the impact your services provide to them, then it can be extremely satisfying. There are ways to use leverage in a Practice so that you are enjoying doing your highest and best work and someone else is taking care of the rest.

The value of a Practice is that the profit margins are a lot higher than a Business so you have a lot more disposable income. The challenge is not to spend all of that income but use it to invest in income-producing assets to provide for your future.

A business on the other hand is something that appreciates in value, can be run by someone other than you and unlike a Practice can be sold for a profit at a later date. It comes with its own set of challenges like managing people and suppliers and processes and stuff.

Business profit margins are generally lower than a Practice because the overheads are generally higher. It takes more resources to run the machine. In a business you are not usually delivering the technical services â you employ others to do that. The highest and best use of your time would have more to do with employing and training the best people you can find, sales and marketing, financial management and overseeing operations.

There are some cross-overs but, for the moment go with your gut instinct to decide which is the most satisfying and fulfilling structure for you. Which one uses your most valuable talents and skills and which one has the most enjoyment factor for you?

Of course you can turn a Practice into a Business later but it requires a different skill set and focus.

Evolutionary Business Design

Category: Business Development

Fake it ’til you become it

Game ON

Are you running a Practice or a Business?