pb-photo

Evolutionary Business Design

Category: New Business

The secret to being a successful business owner

Congratulations! You’re a rare breed.

If you measure success by the dictionary definition of “the favourable outcome of something attempted”, then owning a business could be considered a success, because there are many more who think about being a business owner than follow through to buy or start a business.

But how do YOU measure success?

Is it measured in money, prestige, toys, lifestyle, contribution, customers or reputation?

Who’s doing the measuring?

Are these your measurements or are you succumbing to external forces telling you what success “should” look like?

From the outside your business could look spectacularly successful.  However you could be sitting in your business right now not feeling particularly proud and successful – especially if things are not going the way you imagined they would.

Working closely with hundreds of business owners over more than a decade here’s what defines success for them.

Which ones apply to you?

  • I get out of bed each day with enthusiasm and energy – I enjoy my business
  • I’m happy with the direction in which my business is headed
  • I’ve made mistakes and learnt from them. I get up when knocked down
  • I constantly learn and implement new ideas and ways of doing business
  • I have good people around me to help run sections the business
  • I feel good about the products/services we deliver
  • I have brightness of future. I’m confident we’re on the right track
  • I have a good support network in my business community
  • My business is agile, flexible and not heavily weighed down by outside influences
  • My business pays me properly for my efforts
  • My business has a good reputation
  • I’m doing work worth doing, it has value
  • My time is flexible enough to allow me to enjoy life
  • My business is growing. I have an asset that has value now and in the future
  • I have the right balance of work and play. I have time to myself and with my family
  • I have defined my boundaries of what I will and won’t do
  • I choose my customers
  • The business is under control; it has systems that make it work well
  • My business makes a valuable contribution to my community
  • I have a business that gives me a good life

Please feel free to add your own success criteria.

Celebrate what you DO have. Every business is a work-in-progress. Don’t feel bad about the things you don’t have right now. Make a note of them and work on the most important ones that have meaning for you.

There is no ONE secret – it’s a collection of criteria that gives you a feeling of pride and sense of achievement.

The secret to being a successful business owner is whatever you say it is.

What is it for you?

3 Easy Steps To Write A Blog Or Social Media Post Now!

woman-taking-notes-detail_385-19323203

Quick and simple guidelines to create content

Here are the rules…

  • Don’t be generic – don’t write for everyone , write just for one person
  • You need to get inside their head to get to the HOT Buttons – make it personal.
  • Keep great notes on conversations with clients or customers – these are your source materials

Here are the steps:

Step #1

Identify a specific person

Write a list of the clients you’ve dealt with over the few weeks or few months – Name them. Some will stand out more than others because of the conversations you’ve had – choose the ones you’d most like to write for and that you have the most to contribute to

Step #2

Find their HOT Buttons

Under each name write down all the problems they have – real and perceived. Dig deep – find their fears and frustrations; what irks them, what keeps them awake at night, what they would do if they had a magic wand; what they most want your help with; their horror stories and their dreams and desires. Be very specific; not “needs more money” but “Needs to generate $5000 by Monday”

Step #3

Write the article in a particular style

Once you have the list, write an article for that person – just that person, because if one person has that problem or desire you can bet your boots others do too. Make it interesting to read – choose a style to write it in. It could be a case study, a rant, a “how to”, common myths… it could even be a checklist, FAQs or 3 Steps to do something.

You now have page full of ideas for articles, blogs, and social media posts – no more staring at a blank page. You can even turn these into videos or podcasts.

Enjoy!

The harder you work the worse it gets

Windup Woman the harder you work the worse it gets

Some days it feels like you’re digging yourself a deeper hole.

You have the best of intentions but it just doesn’t feel right. There’s a distinct lack of joy and sense of achievement in the day to day running of your business.

So – my best advice: STOP right now, put your head up and look around. You might be heading in the wrong direction.

Is what you are doing now getting closer to the kind of business – and lifestyle – you really want?
Honestly, if it’s not, what’s your reaction to it?

Some people keep on digging because they’re stuck – they don’t know what else to do. They’ve committed to a course of action and don’t have an alternative plan.

Some keep digging because they’re afraid of what people will say if they give up.

And some people have the courage to overcome their fears and change direction.

It takes a lot of guts to change – not just to recognise that something has to change but to actually make the changes. It also takes guidance and encouragement – and often a lot of hard work, doing things you might never have done before.

You’ll know when you’re on the right track – you will work hard and you’ll actually enjoy it. You’ll see progress. Like the Wright brothers when they were building their first aeroplane. They said “we could hardly wait to get there each day”.

I think business should be like that – if yours is not, then you’re responsible, what would you like to do about it?

Would a 10 Minute Pinpoint the Problem Find the Solution phone call help? Click here to book a free call .

5 Steps to develop your good business ideas

bright ideas

If you’re a creative person you’ve probably generated more business  ideas than you can ever implement.

In your mind your latest idea could be the best thing since sliced bread, but if you don’t put in enough strategic thinking BEFORE you get started, it could just lead you down a deep dark rabbit hole…

This 5 Step Strategy to Develop New Ideas will help you sort the “good ideas” from the “time wasters that look good on the surface” and show you how to get the outcome you really want.

Try this:

  1. Capture the ideas – it doesn’t matter how crazy they might seem – just get them down in a journal of some sort. Use words, pictures, links… anything that sparks off the original idea and intention.
  2. What is the problem that THIS is the Solution to? You’ll need a framework to assess the idea. What is your greatest need – your “Burning Desire” right now? Is it to make more money, to get better customers, to have better structure in your business? Whatever that burning desire is write it down at the top of a page. “I need to make more money” (remember to state exactly how much money that is – e.g. $500 more in turnover each week”) You’re going to brainstorm the strategies.
  3. Take each idea you came up with and run it by the Burning Desire. If the idea can help you achieve that exact outcome, without spending too much money or wasting too much time, then it’s time to develop the idea. All other ideas have been captured in the journal so you can come back to them later. Work on ONE idea at a time – go deep.
  4. If you have more than one idea or strategy, assess the idea for ease of implementation. Ask yourself qualifying questions: “Can it be done, by me (or can I pay someone else to do it)? What tools, people, skills will I need to make it successful? How long would it take to implement? How much will it cost? What return do I want for my time and effort?” Write it down. Can you do a “test run” before you throw lots of money at it?
  5. Start the test run – run it by people who would use it or buy it – get some feedback. Don’t try to develop the idea and build a new product / service / system until you know there is a genuine need or market for it or that people actually want what you’ve created.

How do I know this works?

Because I’m a super-high Creator. Without structure to assess and implement ideas Creator types can create chaos. I know it seems like “hard work” from the outside but if you take a little time to plan it out first you’ll save yourself vast amounts of time and energy and money – and you’ll end up with a much better creation from your brilliant ideas.

Good luck. Let me know how it goes.

What’s the best option to get finance for a start-up business? Re-mortgage, bank loan or other finance options?

The FIRST RULE OF THUMB

Business Coach Mandurah

The rule of thumb before borrowing money from anywhere is: “If this were someone else’s business (NOT mine) would I invest in it and what ROI (Return on Investment) would I expect, over what period of time?”

Banks and Financial Institutions have a built-in ROI to protect themselves, but if you are self-financing you need to have an expectation and a time frame for yourself to know that borrowing money was a good idea and a sound investment.

 

SOURCES OF FUNDING:
1) Getting finance from a bank or other financial institution:
If they are going to invest in you and your business they want to feel confident that you know what you’re doing, that your business idea is sound and that you will be able to pay the money back

They like to see a business plan including a financial plan with realistic financial projections. Banks are usually conservative and risk-averse so you need to have a good track record and have plenty of supporting evidence to back up your idea.

2) Financing it yourself from a line of credit or re-structuring your mortgage.

This can often seem like the easiest way of doing things BUT there is a much lower level of accountability. And that’s where a lot of people fall down – they don’t prepare the detailed business plan, they don’t do a financial plan and they don’t project how they will get a return on their investment on lending money to themselves. Do the same prep work as if you were applying to a bank!

A line of credit that you have instant and easy access to is probably the most dangerous way to borrow of all, unless you are SUPREMELY DISCIPLINED! You need to set firm rules around what the money can be used for and set up a repayment system that you will be accountable to.

And I don’t recommend borrowing from family and friends! It almost never works out or gets paid back..

3) Angel Investors and Venture Capitalists will lend money to start-ups. The risk is higher for them than for banks because they are investing their own money, so the deal is usually constructed on an individual basis.

Venture Capitalists are professional investors, individuals or groups, who may want a bigger slice of the ROI, or they may want a slice of your business or a shortened deadline for money to be paid back. Angel Investors can be individuals or groups of people who look for investments that go beyond monetary return. This is the preferred option to bowing from friends and family.

Raising venture capital is a very deep and fascinating topic, so I’d recommend further research.
I highly recommend Keith Cunnigham’s book “Keys to the Vault” (Keith is the “rich dad” that Robert Kyosaki refers to in “Rich Dad, Poor Dad” – also well worth reading.)

Please be aware that I am not a qualified financial adviser; I am a Business Coach with 10 years’ experience coaching hundreds of businesses. These are my opinions based on personal and client experience and my own research and education. Please seek professional advice from your Accountant or Financial Adviser.

 

© 2025 Pauline Bright. Bright Business,
Perth Western Australia       All Rights Reserved

Website Design by CATCO Enterprises