Is Your Business On The Right Path Or Not?

Posted by richardhunter-rice on March 5, 2018

There are a number of factors to take into consideration when prepping yourself and your company to approach the largest clients you’ll ever work with.

Today we’re going to start with a brief look at the three paths every business faces and show you which one is the path to success. Then we’ll talk about the mindset it takes to attract the “big fish.”

 

 

 

 

 

 

 

There are three major paths a business can take:

  • Snail Speed
  • Shooting Star
  • Catch the Big Fish

 

“Snail Speed”

Most business owners ended up working themselves into the ground without much reward or success. This is what happens when you fool yourself into thinking you will find quick success. You may also find yourself following this path when you are afraid of change.

“Shooting Star”

This describes a business that shoots to the top so fast you are overwhelmed and don’t have the right resources in place to adapt. This can also happen from being overwhelmed by small clients and not taking the time to find large clients, which will sustain your business after the small client sales slow.

“Catch the Big Fish”

This is the path that allows you to build at a steady pace that you can manage by not allowing your customers to outpace you. You can do this by putting these tips to work:

  1. Attract, keep and lock in big clients.
  2. Integrate “big business” culture into your company and employees.
  3. Acquire the expertise you need to grow.
  4. Have the courage to make changes as you grow.

 

 

 

 

 

 

 

Now we are going to transition a bit and talk about the “big fish” mindset. It may sound easy to just find and catch that big fish, but if you are stuck in the small business mindset, you may find it harder than you think.

Think of all the benefits of aiming at bigger clients:

  • Inexpensive
  • Highly Profitable
  • Longevity
  • Security

In order to catch the big fish, you need to believe your company can make a difference with theirs. It’s easy to get into the thought that a large company doesn’t need anything from a small business like yours, but this is totally wrong!

Once you take a look at how big companies operate, it’s important to know which ones are the best fit for your company. One of the best ways to get in the door is by knowing someone on the inside who can put in a good word for you.

If you’re not sure where to start and feel a little intimidated about catching big fish, try our FREE test drive to get help from our amazing business coaches.

Get in contact today!

info@minervagrowth.co.uk

Richard

 

Deliver + 1

Posted by richardhunter-rice on January 29, 2018

In the last post we talked about how to figure out what your customers want out of a positive shopping experience. Today we’ll talk about the concept of Deliver +1 and how this concept can take your customer service to the next level. I’ve decided to split up this post so the next one will cover the 1% Rule.

Consistency is the key to any great customer service experience. If you want to take your satisfied customers to Raving Fan status, you have to go above and beyond the average customer service experience.

There are three ways to develop consistency:

Avoid offering too many customer service options.

We sometimes get so caught up in giving customers what they want we get away from our original vision. Instead, stay true to your vision and offer one or two solid customer service techniques that will set you apart from the competition.

 

You need to fine tune the current systems you are using before you can add anything to the mix. There’s nothing worse than launching a new program when you haven’t even worked out the kinks of an old system.

 

Put solid systems into place.

Once you know what you’re going to offer, you need to have a system in place to execute it flawlessly every time. This system needs to consistent of the right people in the right roles and responsibilities and technology that guarantees a positive experience every time. Emphasis needs to be placed on the results, which ultimately is the satisfaction of the customer.

 

Good training is the key.

Once you have your system in place you need to train people to use it properly and efficiently. This helps your people deliver the results your customers are looking for. While, train is essential for the system to work and for all your people to work together cohesively, appreciation will go a long way.

I hope this has given you a look into what you need to do in order to have a quality customer service system in place. If you need help, try our FREE test drive and gain access to a wealth of resources, tools and coaching.

Get in contact today, email us at info@minervagrowth.co.uk

 

“Snow Mageddon!”

Posted by richardhunter-rice on December 11, 2017

It will be very interesting to see what effect the latest snowfall in the UK has on business.  Will more businesses finally embrace home / remote working or will the majority of business owners enforce that everyone has to brave the elements, reduced public transport, and scary icy roads to be in the office to work their 9-5?

 

If more companies had an empowered approach to business and rather than micromanaging their employees – empowered them to work where ever they saw fit, productivity in the UK would soar and “blips” like the weather etc would have little to zero effect on business.

Leaders should focus more on the quality of the tasks completed and the time taken, than how many hours the employee works.

Would you prefer a team of people who can smash their tasks/projects within three days rather than five – or would you feel cheated as they “should have been at their desks for the additional two days?”

Modern productivity tools such as Evernote empower teams to work in total unison and aren’t dependent on the team to be sat in the same office. It wouldn’t matter if the team working on a project were all in different corners of the globe.  Just think how much more productive your team could be if they were all working different time zones?  Suddenly you could have 24 hours a day focus on your business…

 

My final thought on this and yes this comes from personal experience –

If people are managed in a certain way, then they will behave in a certain way.

 

“Richard Hunter-Rice is an Evernote Certified Consultant and offers productivity support to small business owners, for further details please go to: Evernote

Richard also runs Minerva Growth – the business works with small business owners and typically will triple the number of leads they get and dramatically increase profits.  To learn more:

Minerva Growth

 

 

 

 

 

The Mortar Makes it all Happen

Posted by richardhunter-rice on September 19, 2017

Today I’m going to talk about the three keys to business development and how you can put the right bricks in place to build a solid foundation.

 

 

 

 

 

There are three main areas of business development:

  • Innovation
  • Quantification
  • Orchestration

If done well, these three areas will help you build a solid foundation for your business. So let’s talk about each one of these for just a minute.

Innovation

Innovation should not be confused with creativity, which is the expression of ideas. Innovation is taking these ideas and putting them into action. This is where a large amount of your focus should be in the beginning and even throughout your business’ entire lifespan.

Quantification

This, of course, refers to the numbers. We are talking about the value of your innovation. The best way to gauge this is by your customer response. Look to positive responses for what you are doing right and keep on doing it. Look to your negative responses to find out what you’re doing wrong and fix it. This will enable you to keep growing and progressing with the needs of your customers and business climate.

Orchestration

Once you’ve had a chance to find which areas are working, you can narrow down those areas and concentrate on making them the standout ideas. You shift your focus here to get the most out of your business and to meet the needs of your customers.

We can help you work through these three areas to put together your franchise prototype during your FREE test drive with Minerva Growth.

In the next few blogs

We are going to transition to the 7 specific areas you need to consider in your franchise prototype process:

  • Primary Aim
  • Strategic Objectives
  • Organizational Strategy
  • Management Strategy
  • People Strategy
  • Marketing Strategy
  • Systems Strategy

 

These 7 areas will fine turn your plan for the ultimate level of success.

Expand the Life of Your Business

Posted by richardhunter-rice on August 20, 2017

Today I’m going to talk about the life cycle of a business and how to get the most out of each cycle, whilst at the same time extending the lifespan of your business.

The four different stages of a business life cycle are:

  • Infancy
  • Adolescence
  • Growing Pains
  • Maturity

 

I’ll talk a little about what each of these cycle’s means and how they can each help expand your business’ lifespan.

 

Infancy

This is generally considered the technician’s phase, which is the owner. At this point, the relationship between the business and the owner is that of a parent and new born baby. There is an impenetrable bond that is necessary to determine the path your business will follow.

The key is to know your business must grow in order to flourish. You cannot stage in this stage forever.

 

 

 

 

 

 

 

 

 

Adolescence

In this stage, you need to start bringing your support staff together to delegate to and allow growth to happen. The first line of defence is your technical person as they need to bring a certain level of technical experience. This cycle really belongs to the manager though. The plan stage needs to start and a relationship should be built with the entrepreneur to plan for the future.

 

 

Growing Pains

There’s a point in every business when business explodes and becomes chaotic. This is referred to as growing pains. It’s a good problem to have, but a problem nonetheless. You are often faced with a number of choices:

  • Avoid growth and stay small
  • Go broke
  • Push forward into the next cycle

 

Maturity

The last cycle is maturity, though this doesn’t mean the end of your business. Your passion for growth must continue in order for your business to succeed. You need to keep an entrepreneurial perspective in order to push your business forward.

You see how all three of these cycles are connected and depend on a strong foundation for each one of them for your business to be and continue to be successful. All three of your key roles must also work together to work through these cycles.

If you’re having trouble putting together your business life cycles and figuring out which of the key roles you fit into, try our FREE test drive and work with us to grow your business.