Are You Going Backwards or Forwards - The Importance Of Business Planning
I was sitting in a train today facing the wrong way I was travelling and was thinking to myself I can see where I have been, but not where I am going. This got me thinking about life and also about how this may be relevant to business.
How many times do you look at where you have been, but not where you are going?
We always look back and say things like ‘that promotion didn’t work’, ‘I hired the wrong person’, ‘sales were bad last week’ etc. But how often do we look forward?
Looking forward to determine where it is you are going (or want to go) is a critical part in your planning for your business success. Take the time to work out where it is you want to go and look beyond the immediate horizon.
If you are ‘looking backwards,’ take the time to now start ‘looking forward’ at where you want to head. Make a plan, write it down and work out what needs to be done to get there.
It may be as simple as defining what your ideal team member looks like, does, and needs to do, or to plan sales forecasts, marketing plans etc.
The most important thing is to DO IT, and now is a great time.
Good luck!
Tony Ozanne
Small Fish Business Coaching Canberra
www.smallfish.com.au
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Another Year Done
Another year done! What will you change next year?
As we approach the end to yet another calendar year, it is useful for us to use the upcoming months to reflect on our successes or opportunities. What will your reflections reveal this year of you and your business?
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Did you hit your goals for the year? – goals can be financial, growth based, development based or to focus on any aspect you wanted to achieve. The main point being that you actually had a goal for the year? Don’t panic though if you didn’t as all is not lost, set one now for next year.
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Does your business look like you wanted it to look? – Physical size as far as turnover, number and quality of staff, the types of clients who buy from you etc.? If yes, then review what it was you did well and continue or enhance it. If no, then establish some plan of action to fix the gaps to make next year better.
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Is your work-life balance where you want it to be? - have you had a holiday and was it stress free, or did you call the office every hour while away? Have you missed those important family events or kids sports days? Unfortunately it will happen, but how can you reduce this lost time opportunity in the coming months? Do you need to ‘let go’ a bit and have someone do some of your tasks?
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Are you making more, or building an entity worth more than you would have if you had one of those 4 letter words, A JOB (well not technically one word, but it works for my point!). Should you go back to the corporate world, or have you got what it takes to turnaround your business if it was a bad year?
Now would be the perfect time to go on about the needs or benefits of getting a business coach, or utilising one of our awesome products like the Business Audit Consultancy, but I won’t do that (unless you decide to click on the links of course! What I will say is DO spend the time reflecting on your year in the coming weeks. Write down what worked and what didn’t, and spend the time to plan for an awesome year next year.
It is never too late to start planning.
Tony Ozanne
Small Fish Business Coaching Canberra
www.smallfish.com.au
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Business Coaching And Weekly Shopping
For those who have newsletters, blogs and regularly updated websites that need new content, I am sure you can relate to the challenge of finding things to write about each day, week, month or year!
Myself, I find I go in bursts of excitement (like lots of things I do). I do none for a long time, then go BANG and write a few to stockpile. We are lucky at Small Fish in that we all share the load in submissions to this awesome weekly newsletter- partly so we don’t bore you with Jon writing every week, but more so to expose all of us regularly.
I’m in one of those BANG moments right now, and turned to my friend GOOGLE to get some inspiration on blog topics. I found one suggestion that said to make a list of how your industry compares to day to day things or to other industries.
Great idea, but then I had to think of what to compare it with…..hmmm….got it, the weekly grocery shop.
So here goes….get ready for it, here is my list for the 7 ways Business Coaching is like the weekly trip to the supermarket (riveting hey?)
- You might not like what you come out of there with, but you know you probably needed it in the long run.
- You may need to buy extra tissues just in case things get a bit emotional.
- The vegetable section may have items that don’t taste very good, but they are good for you, just like some of the ‘discoveries’ in coaching.
- Make sure you select a coach carefully, a bit like picking a shopping trolley - some are a bit wonky and may try to take you in the wrong direction and you have to feel comfortable with it.
- They both work better if you leave the kids at home.
- Price alone isn’t the only driver of value in either case. You have to feel satisfied with the overall experience and the process
- They are both less stressful if you have a plan and follow it.
Wow that wasn’t too bad…so as you can see shopping and business coaching are very similar! Can you think of some comparatives for your business? Would love to see them.
Have a great week.
Tony Ozanne
Small Fish Business Coaching Canberra
www.smallfish.com.au
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How Much Profit Is Your Business Leaking?
Most businesses leak profit, often for simple reasons, which can easily be fixed. Is your business leaking profit?
The Business Audit Consultancy will help you identify and plug profit leaks. And help you make more money. And who doesn't want that?
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Click below to read more or to book yourself in for a good probing (with questions of course). We think you’ll like it.
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Regards,
The Small Fish Team
Anonymous 20-Jan-2012 03:55 AM
Un bon blog, bien écrit, merci.
Business Travel - Friend or Foe?
Like a lot of people out there, I have had my share of corporate travel. In a previous life (one I left to join the world of small business to avoid) I was based in the Middle East for nearly 6 years and travelled internationally nearly every week. This takes its toll on lots of things such as- missed family time and outcomes associated with this, time wasted at airports and lounges, eating bad food, another city, another hotel room etc. etc. Not quite the glamour I initially thought. I have early visions as a child thinking that friends who had parents who travelled had the best job, from my experience it isn’t all it is cracked up to be!
So I left this life and came back home to Australia, partially to escape travel, only to end up in Perth and then every few weeks still spend time flying back and forth to Sydney. So I didn’t quite escape! Now I am back on the east coast and spend less time travelling, so the daunting side has reduced, to more of a novelty. The only bit of that past life I miss are the people in all the cities I went to, but social media, email (and phones) can eliminate that gap easily.
As the circle has now nearly turned a complete revolution as a small business owner, I pose the question to all as to whether you now dread the travel side of the business world and why?
Do you work smarter and utilise technology such as Skype, GoTo Meetings, conference calls etc. or do you still insist on the face to face?
If face to face is still important, have you taken the time to consider the cost of a trip to you or your business? It isn’t just the airfares and hotel and meals, but the time you are away at your hourly rate doing ‘other things’, it’s the time away from family events or school events which cant be replaced as well. There is a big sacrifice to those who live this life whether in corporate or in their own business!
Maybe I’m just being all philosophical as I sit in a café in Melbourne after flying down here for two days this week. This has meant re-scheduled meetings, missing an event and being away physically. Some of these things just can’t have a price put on them, but I guess it is a necessary evil as the world gets smaller and smaller!
I would love to hear your thoughts.
Tony Ozanne
Small Fish Business Coaching Canberra
www.smallfish.com.au
Jon Dale 14-Sep-2011 05:24 PM
I'm with you, Tony, travel is over-rated - it's better to spend time at home that charge around the country or the world working. Technology is our friend these days - we meet using Skype or GoToMeeting. I'm coaching Noven from Byron Bay and he's in Thailand
- I'm not flying over to meet him every week and he's not coming here! Relationships are important and some travel is necessary - and, frankly, when it's not so often, it starts being fun again. Roll on my next trip to Sydney! Jon
Are You "Great" Or Just Doing OK?
In a recent article I posted to our Small Fish Blog ‘What makes a great business owner?’ the behaviours of great owners were discussed. To continue with this theme and to look at some more specific behavioural data, I have conducted some analysis of businesses I have had contact with recently as a coach.
These results come from the mini audits of 87 business owners, who took the opportunity to try the Free Coaching Session Small Fish provides. (I have to plug this and say it is a great way to seek some feedback, ideas or thoughts on how you can improve your business if this is what you want to do!). Just click here or email me if you have an interest in having one for your business!
So, what did I discover?
From the 87 business mini audits, the following was discovered:
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75 employed staff (balance solo operators)
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8 actually have regular structured staff meetings
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7 provide incentives, feedback or reward processes for their team
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6 have a formal business plan (I think about 2 had actually looked at it since completing)
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5 have a Marketing Plan
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4 tracked Marketing activity for ROI each time
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6 obtain and review financial information on a monthly basis (i.e. P&L)
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4 knew their break-even point
These are some alarming numbers, and I am sure all those reading will not be on this list!
Clearly not all people I meet want to become clients for a number of reasons such as time, cost, don’t want to change, not ready, feel they’re doing ok, etc. This is fine and to each their own.
The key point and take away from this is not to sell coaching, but to advise if you are guilty of any of the above. The first step is to 
recognise your gap. Once you know where you need to modify things, you have to WANT to change. This is where those who seek external help flourish; they have identified a need and want to amend that gap in their behaviour. Don’t waste money on coaches, consultants, training etc. unless you really are serious about change and willing to commit. It isn’t easy, but the business benefits longer term will truly make you a great business instead of just chugging along and doing Okay.
I wish you all the best and hope to see these hit rates change as we all become better (and even great) at what we do.
Tony Ozanne
Small Fish Business Coaching Canberra
www.smallfish.com.au
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Lessons from the Tour de France
After 3 weeks of late nights watching the tremendous efforts of our Aussie, Cadel Evans, in winning the 2011 Tour de France (and the first from our country), I am sure I am not the only one who looks forward to an early night’s sleep after it all ends…the 2 am endings take their toll!
So given the amazing ride of ups and downs and demonstration of true grit, why am I writing about this in our blog?
A few themes have come from Cadel’s ride. He clearly had a plan, he had a great team around him and he never lost sight of his vision- to WIN!
So as we celebrate and reflect, ask yourself if you truly have a vision for your business and where you want it to be at any given point in time, be it 1 year, 3 or 5 years…if not, why not write it down today and spend some time to develop the vision (of course a Business Coach can help).
Once you have a vision established, develop a plan as to how you will get there. This is the classic ‘future back’ activity of looking at what you need to do to achieve the vision.
Is it a Marketing plan, a plan to evaluate and align your people, or is it a sales strategy? It may be a number of these or more!
Finally, don’t forget the power of your team. Just as Cadel Evans had his fellow BMC team mates to help in times of adversity, be it mechanical fixes, driving the chase or keeping him motivated, they were clearly aligned to the overall vision (to win) and the plan (how to do it stage by stage). Do you have your team clearly aligned and aware of your plan and vision? They are the ones who can help you get there, you cannot do it all by yourself. The first thing Evans mentioned, after his yellow jersey on Stage 20, was to say how his team gave 99.9% to 100% effort the entire race, and he couldn’t have done it without them. Can you say the same about your vision and plan and your team? It isn’t a challenging one to do, once your plan is set. Have a strategy sharing session and let your team know how they are a critical part of the end result, then give the recognition, motivation and celebration for the small wins.
As a fellow proud Aussie this weekend, have a look at Cadel’s efforts and see if you can take some of the lessons from it for your business, and maybe you can win your own personal Tour de France in 2012 and beyond.
Good luck and congratulations to Cadel Evans!
Now it’s time for some sleep.
Tony Ozanne
Small Fish Business Coaching Canberra
www.smallfish.com.au
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What's A QR Code?
At a recent networking luncheon, aptly named the GAF Luncheon (Grog and Food), I was introduced to a new bit of IT or marketing technology (well at least new to me, I’m sure they have been around for a while, but I may just be a bit slow to catch up with this techno stuff). So I decided to go and use my best friend, Google, and see what they are all about, and obviously decided to share what I have found.
QR codes, or Quick Response codes were initially designed for the tracking of parts in the automotive industry. They are now used to allow a user, who can scan such codes, quick links to website, email links, SMS link, phone numbers etc. They have become a key target in the Mobile technology whereby an App can be downloaded for both IPhone and Android phones to scan and then therefore, make these little black and white boxes usable to us. I found an App for my phone easily on the App Store and for an option of a FREE one or a $1.19 HD version, I am now a man with a scanner, and they are pretty cool!
I have also discovered (again thanks to a quick search of Google and the word "QR code creator") several sites that allow you to make your own QR codes for free, again, how cool? Since finding, creating and playing with this in the last few days, I am amazed at how many QR codes I have come across each day, from magazine advertising, bus advertising etc. They are popping up everywhere, and hey, now I can scan them!
While I don’t know if this is the next big thing, I’m sure the marketing aspect of these will grow by the day but, they are certainly quite impressive, and unless you can scan, you don’t know what you are missing. Finally, when you find and scan one, it is a mystery as to what is going to open up on your phone!
So what are you waiting for? Go and have a play like I have…
Tony Ozanne
Small Fish Business Coaching Canberra
www.smallfish.com.au
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What Makes A Great Business Owner?
Jim Collins in his book ‘From Good to Great’ discusses what differentiates a good company from a great one, and how few companies end up being great. It’s a great read and I recommend it for anyone in business or in a management role. When we look at these questions in the context of the business owner, what is it that makes him a ‘great’ owner versus just a ‘good’ one?
Whilst there are numerous lists out there I thought I would throw a few of my own thoughts out there based on insights drawn from conversations and observations with business owners who fit the mould of being ‘great’. They are the ones whom not only have the successful and desirable business operation, but in most cases, have the balanced lifestyle to go with it.
Characteristics of a great business owner are:
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They have a vision for the business
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The vision is developed into a working plan and being actioned
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They are passionate in all they do
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They’re not afraid to take risks
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They have access to funds
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They surround themselves with experts to complement their skill set
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They are willing and able to change (at short notice)
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They seek out new opportunities
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They have strong decision making abilities
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They solve problems (but sees them as opportunities)
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They have a sense of humbleness
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They are strong communicators
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They can let go of the reigns and allow others to control their business
Whilst I’m sure there are many more characteristics for a great business owner, this is a good starting point. From the list of 13 points above, how do you score in honestly ticking off those that apply to your approach to your business? I think I can confidently tick about 8 to 9, so I guess I still need to get some more focus in various areas…or maybe my humbleness needs some work?
I would love to hear of any additional pointers that great business owners have, or to see how you rate in a score out of 13?
Best of luck in the journey to ‘greatness’!
Tony Ozanne
Small Fish Business Coaching Canberra
www.smallfish.com.au
Tanya Hargraves 06-Sep-2011 12:22 PM
Hi Tony, These are great tips, my problem is making my vision into a working plan that comes together. I have been in business for almost 20 years and cant seem to get past the first base of growing my business so that it is not so hands on and turning
over more profit. Look forward to your advice. Regards Tanya
Tony Ozanne 06-Sep-2011 10:10 PM
Hi Tanya, Thanks for the comments, one which is not uncommon for long standing business owenrs. Even as a new business owner I personally can see how this is easy to fall guilty of i.e not making the vision and executing it. We at Small Fish focus on developing
a One Page Strategy for your business and i suggest this is a path you can look at going down. Start visualising where it is you see your business in 1,2,3 or 5 year (whatever) time and write down what it looks like. What is the turnover, how many staff, what
is your role, who are your clients etc etc. This is the part of forming that vision piece that you say you are struggling with. Our process then starts developing the stepping stones as to how to get there. Do you need to plan to work your role out of the
day to day (by putting in a Mgr or other), is it more marketing to grow to a sustainable level, putting systems in place etc. The beauty and fun part of the business coach role with businesses is helping facilitate this process and end up with a plan for YOUR
business, not some off the shelf - here's one I prepared earlier- strategy. We come with a blank page and each business has a different goal. Without plugging us, this would be the starting point I would suggest for you, spend the time to work 'on' vs 'in'
and have a team planning or strategy day......you can always seek a thrid parties input and now I will plug us, in only that we offer a non threatening, non pressure sell, no obligation free coaching session as a part of our process. This takes you through
a mini audit to give a taste of some of the ways we can offer advise and value to your business, and we feel it adds value and we do give thoughts, challenges etc during the session to give you some starting points. Then the next steps are up to you! I hope
this gives you some ideas or at least the confidence to start the process as this is the hardest part, actually thinking where you weant to go.....thats the challenging bit, the good and fun part is the journey. Best Regards...Tony
Somethings Fishy at the MyBiz Expo in Melbourne
If you’re going to be in Melbourne on Thursday 16th or Friday 17th June, you can meet some of the Small Fish team in person at the MyBiz Expo.
The Expo promises to be a fantastic networking event, with the opportunity to meet many people and gather some valuable and useful information that can help you in your business.
We would love the opportunity to meet with you too, to talk about your business. Could your business be more profitable? Is your business and the environment it operates within changing? Does the business leave you with enough time to enjoy your success? Are you in control of your business, or is it the other way around?
Speaking with a business coach in person is a great way to discuss these things, and to find out whether a business coach might be able to benefit you and your business.
Alternatively, you might be considering becoming a business coach yourself. Being a business coach is not for everyone. It is hard work, but very rewarding as you get to work with and help a broad range of people in business.
Come down and talk with the team to find out first-hand what being a business coach is all about. This is also a fantastic opportunity to discover the benefits joining forces with Small Fish!
The MyBiz Expo is being held at the Melbourne Convention Exhibition Centre from Thursday 16th to Friday 17th June, and Small Fish will be at Stand 30. To find out more, and to preregister, click here.
Regards from The Small Fish Business Coaching Team
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