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

 

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.

New Business Team Building

Posted by richardhunter-rice on August 14, 2017

Today I’d going to write about the different types of support staff you will need and what will make them so important to you.

There are essentially three key roles that need to be filled to set your business up for success:

  • The Technician
  • The Manager
  • The Entrepreneur

 

All of these roles need to be played simultaneously by different people with the right talents. It’s all about creating the right balance.

 

 

The Technician

This person represents the present and all that needs to be done for the physical aspects of the business building process. They are the “doer”. This is usually the most visible person of the entire operation.

The Manager

This person represents the past and works to fix problems through learning from past mistakes. They are the practical side of the business and are in charge of putting together the business and overseeing the planning.

The Entrepreneur

This person represents the future and the vision for the business. They are responsible for the creative side of the business and are always considering ways to enhance products/service, business image, branding and more.

All three of these characters are essential to the success of any business and to build a solid foundation from the start, you need to work harder to find the right people to put in these roles. Obviously, you need to be one of these key people, but ensure you find the role that fits your skills and talents, not necessarily what you THINK you should be doing.

This may be a hard process for you as you will need to relinquish some control over the business and instil trust in people to allow them to do their jobs.

Remember,  I can help you through this entire process and teach you how to avoid falling victim to e-myths when you try my FREE test drive.

 

 

Are You Just Aiding & Abetting E-Myths?

Posted by richardhunter-rice on August 7, 2017

In my latest blog, together we are going to embark upon a journey through the world of e-myths and expose them to help you avoid falling into the e-myth trap.

First, let’s take a minute to talk about what an e-myth is.  This is simply – an entrepreneurial myth, or e-myth, is an assumption that anyone can succeed at business with the following:

  • Desire
  • Some capital
  • Projected a targeted profit

This sounds great, but it just not realistic. Think of starting a business as a marathon. Sure, everyone starts out of the gate at record pace, feeling fresh and able to complete the journey, but after a few miles, people start slowing and a number will just drop out entirely. Building a successful business takes

Building a successful business takes both stamina and agility.

The reality is that there are many different aspects to a successful business and none of them can be ignored if you plan to be successful.

Let’s take a minute to talk about “entrepreneurial seizure”. This defines the entire roller coaster of emotions that comes with starting, nurturing and the potential failure of a business.

The emotions that occur, in order, are:

  • Exhilaration
  • Exhaustion
  • Despair
  • Sense of self-loss

 

This is usually caused by the e-myths and assumptions we talked about. You can get your hopes so high on instant success that even the smallest

holdup and you are sent into an emotional tailspin. This is also brought on by the stark realisation that you just can’t do it all and will need help in the areas where you don’t have the knowledge. Now, faced with limited choices you may feel like you need to back out and hide, but don’t do this.

 

 

Use our FREE test drive to get the business coaching you need to avoid feeling overwhelmed and defeated.