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Brent Spilkin

Jul 06
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Doing It For You, To Doing It Together – To Now Doing It Yourself

By Agency Business Coaching Innovation No Comments

The vast majority of my clients run service-based businesses. This means that they sell time in some form or fashion – be it through consultants, graphics designers, or media specialists – and are quite used to taking a traditional approach when a client approaches them; “you need something done, we’ll do the work.”

But over the last couple of years, there’s been a large migration towards the productization of particular services; an attempt to convert a service into some kind of product or process for the client to be more involved in.

This new approach allows for the service provider to make the same amount of money according to the result, as opposed to the time it takes to provide the service.

It’s a clever new strategy that changes the narrative from ‘I, as the provider, do it for you’ to ‘we, the provider and client, do it together’ to ‘you the client, can do it yourself (with a bit of help)’.

Giving You The Tools To Do It Yourself

With technology transforming the way that we do things, especially in business, it’s safe to say that there will be newer and more effective ways to provide solutions to clients. Many service-based businesses are finding exciting ways to wrap their service into some sort of product that the end-user can use to produce results by themselves.

Traditionally, the provider would have to engage in manual processes that take up a lot of time, effort and engagement. However, over the last 10 years or so, we’ve seen technology involve the client in more and more of the processes required to get the job done – with the provider and client working together to save both time and energy.

Now with artificial intelligence, machine learning and natural language processing becoming an integral part of our lives, we see these processes move into the hands and space of the client. This means that, with a bit of guidance, the client can do the work by themselves and have better control of the outcome.

One of the biggest questions that sit on the minds of these companies is “instead of charging time, how do we charge a flat price and automate some of the production within that service that the client is either aware, or unaware of?”

This has led to different companies discovering a loophole in the system and taking full advantage of it: Instead of the traditional approach of the provider doing the thinking, research and hard work, there’s a shift towards pushing the client to do most of the heavy-lifting with assistance from the provider.

An example of this is in providing the service of conducting interviews to gain insight that will later be put into a report. Instead of spending hours in a room asking the same repetitive questions and writing down a shit load of answers – making use of Google Forms to extract that information is far easier to do and brings about the same results.

Other than the ease-of-use, it’s a major time- and cost-saver for the provider.

With technology advancing these processes, instead of charging for time, you charge for the output – resulting in the same profits, but less work from the provider.

By adopting this method, service-based businesses are able to help guide and advise the client on the best route to take when they need a specific problem solved. It not only helps the customer create a more suitable solution for him/herself, but also makes the job far easier to do for the provider, while freeing up time to do more tasks and make more money.

Sure, it might not be suitable for every business, as some services need special expertise to execute a task, but this approach has certainly made a significant impact on the service-based industry as a whole.

And as a business owner, this is great news for you.

Making it a priority to determine whether or not your service is capable of a similar conversion will improve efficiency, productivity and overall profits.

With the ever-expanding landscape of technology, certain jobs will become far easier to do through automation and it would be pure sacrilege to not look into this new approach.

If you’re too conservative and prefer the traditionalist approach, then you might just lose out on these new opportunities for growth – as well as the advantage of being at the forefront of introducing new productised services to the market.

There are so many examples of these productized services, including: design-as-a-service, where you’re able to make your own custom designs through application-based tools and templates; marketing-as-a-service, where you can market and sell products/services through simple and effective features on the web; and even customer-support-as-a-service, where one company handles customers from different businesses, while still providing them with a great customer experience.

The world is quickly adapting to this approach and you should consider jumping on the bandwagon if you want your company to remain relevant in the years to come.

Let customers and clients do it themselves.  

Sure, there might be a few coaching-as-a-service companies out there, but none can quite compare to the way that I do things.

You see, technology hasn’t quite captured the essence of a highly-effective, caring, energetic and experienced business coach, just yet.

Maybe it will happen someday. But, all I know is that I’m here to stay and can make a superb difference in your business and your life.

Get in touch and I’ll prove it to you: +2783 253 3339

brent@spillly.com

 

Jun 28
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Capturing Vistas In The Three Horizons

By Business Coaching Innovation Strategy No Comments

As a proponent of technology, science and society, Bill Sharpe has come up with a powerful way to view the current, the potential and the future states of business and entrepreneurship, naming it The Three Horizons.

The angle that he takes is to change our viewpoints from that of a one-dimensional perspective to a three-dimensional way of seeing the world.

As a business coach, I feel his insight is profound and enlightening for all those that come into contact with this way of thinking and engaging with both life and business.

The Present, The Potential and The Future 

It goes without saying that nobody is capable of seeing or predicting the future, especially after the impact that Covid has made on the many industries that have either suffered or succeeded during such an intense time.

But the awareness that comes with acting in a one-dimensional view of reality has become irrational, to say the least; there needs to be far more attention paid to the potential change that comes with time and the new paradigms that we will come into contact with in the future.

If there is one thing that we can all agree on being consistent, it’s that change is inevitable.

As a business owner or entrepreneur, you need to work on being inclusive of the thought-processes that come with widening your scope to include the possibilities of that which is to come and the guaranteed shift in worldviews that inevitably arrive with the future; allowing yourself to see the world in a more three-dimensional light.

Sharpe has divided and defined these three viewpoints as three horizons that should always be considered and adopted into your thinking process when running a business: with the First Horizon referring to the present moment and what needs to be done in the here and now; the Second Horizon pointing out the potential of the near future and what can be developed, innovated or grown to shape and move towards that point; and the Third Horizon being the unpredictable and unforeseeable future that will ultimately shape all that we know.

In your approach to the timelines that exist when building your business strategy, these three horizons should be implemented in your vision and considered at all points when navigating through the ever-changing circumstances of life.

Many of the clients that I work with run their businesses within the First Horizon; in a reactive manner that is inclusive of the present and without much interest paid to the short and long-term future that is yet to come. This certainly works, but when the Second and Third Horizons come into play, there often isn’t enough innovation or preparation taken to deal with the inescapable shift in gear.

Just as much focus needs to be given to the Second Horizon, as well. It’s a transitional period that sets our sights towards the potential of the near future, where infrastructure and technology shape innovation and bring with it a whole new set of circumstances that need dealing with. By opening your mind to the “what if” moments of several months or a year down the line, you’ll be surprised at what can be anticipated and developed to cater to these changes.

Taking a stroll through history, there are always patterns that repeat themselves and that should be worked into a means of predicting what’s to come and how to work with those predictions and possible circumstances.

With a keen eye and diverse mind, you can analyse, determine and form insights into what the future might hold and prepare yourself for endless possibilities; certain patterns are unavoidable, but predictable, with natural disasters, technological advancements and new innovations, we can see the Third Horizon open up and ensure that we take better control of the wheel.

Open Your Mind And Your Sights 

The Second and Third Horizons can certainly seem quite daunting when attempting to look at what the predictable and unpredictable future might hold, but by taking the time to let it simmer and by engaging with this thought process, you’re able to make better-informed decisions for your business.

You open the way to see what could be and innovate, accordingly. This gives your business and your vision a head-start in taking the future on, rather than being shocked and disoriented by any surprises that might come knocking on your door.

We are aware of the ever-growing potential of artificial intelligence, the unpredictable nature of diseases and pandemics, the direction that businesses are headed towards in learning the psychology of the customer, the leader and the employee; so by keeping well-informed and educated on such topics, you’re able to deduce and induce particular changes that the world will most certainly introduce to our civilization, as a whole.

Knowledge truly acts as a form of power in looking towards these new horizons, bringing with it innovation, adaptation and potential in sky-rocketing your business towards the beautiful vistas of the future.

Engage with that future and don’t focus too much energy on the single dimension of the present; open up your mind’s eye, view business and life in three dimensions and see the opportunities of the present and the future.

In my three-dimensional vision for the world, I can certainly see you as being a part of it. If you haven’t seen the testimonies, just yet – be sure to check them out.

With that, I’m able to predict the levels of growth and success that I can bring to your business and will provide the greatest level of coaching you’ve ever seen!

You can believe that.

If you’re a bit curious and want to know what exactly I’ll offer you (other than time, expertise, advice, strategies and the best insight) contact me for a one-on-one:

+2783 253 3339

brent@spillly.com

Jun 21
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Charity Or Capitalism – What Drives Your Business?

By Business Coaching Entrepreneur Motivation Strategy No Comments

Empathy is a beautiful thing. It shows compassion, understanding and often presents itself in the form of charity.

Giving back to others, whether they come from a difficult background or struggle to afford certain things, is inspiringly profound and I’m fortunate to have so many clients that are always seeking to act in charitable ways.

But, at the end of the day, running a business based on capitalism means that giving out freebies can be problematic. Keeping an eye on the losses, the leeches and missed opportunities is essential to the growth and success of your business.

That being said, I believe that it’s important to determine whether you’re in it for profit or for charity.

Are You In It For Profit Or To Give Back? 

I tend to find that a large portion of my clients land up in a position where they’re guilty of providing services and doing work that they know they’re losing money on, or they end up keeping staff that they shouldn’t (those that are too slow, unproductive, etc.)

So a question that I ask many of them is, “are you a business or a charity?”

If you’re a charity, that’s great. I recommend going ahead and starting a non-profit organisation and making the world a much better place.

However, from a capitalist-based perspective, if you really want to do charitable work, then it’s often better to make a lot of money and then spend a portion of it on giving back, or even starting a large business that affords you the time and freedom to commit to charitable work.

As a business coach, it’s only right to remind you that running a business, which is aimed at bringing in profits for the shareholders, and trying to do charity at the same time is not a very smart move.

If you really want to commit to doing charity in some form, then perhaps telling your staff that 5-10% of the work that will be done is going to be pro bono, so it’s measurable and accounted for.

At the end of the day, I want my clients to be as profitable as possible.

Don’t get me wrong, I love that there’s so much empathy within my client-base and I respect that they want to do good in the world, but they aren’t doing themselves, their shareholders, or their staff any favours by wasting time, effort and resources.

The difficulty lies in looking carefully at your clients and staff – identifying who the charity cases are and making the decision to either keep them or let them go.

If you’re losing money, then it’s probably time to summon up the courage and do the inevitable. Getting rid of the charity cases will improve efficiency, free up time for new clients and allow for faster growth.

You need to be clear with yourself around where the charity starts and where it ends.

This might end up pissing you off, but at the end of the day, you have smarter choices and options to choose from if giving back is a priority of yours.

Remember that starting and operating a business isn’t easy and in order for you to keep on a trajectory of growth, certain sacrifices are absolutely necessary. Keeping a client that can’t pay at times or that needs you to bail them out of sticky situations will bring about more harm than good; the same goes for an employee that doesn’t quite grasp the role that they have in your business or that ends up slowing down the momentum with backlogs.

Decide what you want in the years to come.

I understand the ethical dilemma that you might be facing, but if you open up your perspective and look at it from Spock’s point of view: “the needs of the many outweigh the needs of the few.”

This simply means that you should focus on driving your business to greater heights and then affect change at a larger scale, rather than catering to the handful of clients or employees that act as charity cases and slow down your business.

Or don’t.

The choice is entirely up to you. I’m not saying that it’s a smart choice, but you decide.

And if you are acting as a charity, willing to give away money without any return, then count me in; I’ll gladly be a business coach that does nothing and still gets paid.

I’m kidding.

It will drive me insane.

I’ll end up sharing more strategies, tactics and advice with you; I’ll seek any opportunity to help you become the success that you dream to be; I’ll give you the time, effort and energy that you require as a business owner and leader to become the very best.

It goes against my very fabric to do nothing and walk away with pockets full.

I’ll prove it to you:

+2783 253 3339

brent@spillly.com

Jun 15
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Why Foresight and Forecasting Is Important For Your Business

By Business Coaching Leadership Strategy No Comments

Being an oracle or seer isn’t exactly on your priority list as a business owner. I get that. But using experience, perspective and the almost limitless supply of online information to predict, estimate and foresee the disruptions that end up shaping our world is absolutely essential to any successful entrepreneur.

Indeed, there aren’t any crystal balls or tarot cards that can predict the likes of Facebook, Google or Amazon rolling in and dominating their respective industries, but one thing is for certain: each of those successful companies had an element of foresight attached to them.

They were able to predict and understand that with the rapid growth in technology, there were new problems on the way. And that meant new solutions needed to be worked on before anybody else could realise the potential.

So why is business forecasting so effective and how do you start making it a part of your business?

Fortification Through Forecasting

 Being a business owner means that you have loads of responsibilities on your plate. The planning, effort and the hard work put in to maintain that business is already a struggle on its own, so finding new ways to keep it growing, improving and well-fortified will take up even more energy, time and dedication.

As a business coach and someone that’s all too familiar with the highs and lows of running a business, I know how difficult it can be to manage everything on that brimming plate of yours. But without seeking new avenues for growth and progressing your business to move ahead of your competition – you leave yourself susceptible to risk.

The less risk, the better. Right?

Although forecasting and prediction isn’t a cure-all for some of those risks, it certainly makes a huge difference if you’ve prepared yourself and your company to deal with the constant changes that are bound to come your way.

Ultimately, adapting to a mindsight of prediction will strengthen the fort that you create around your business. It forces you to plan ahead and formulate contingencies that will help strengthen your company – should some form of change occur.

This way, you’re always prepared for the inevitable and ensure that you are always moving towards the goal of finding new solutions before they’re needed.

3 Benefits That Come With Forecasting 

As you begin to consider an approach that makes effective use of forecasting, it would be wise to know some of the benefits that come with using it.

Firstly, it gives you the opportunity to formulate a more structured approach towards your business strategy. By using insights, trends and patterns to predict any new changes in the world (disasters, pandemics, new technologies/infrastructures, war), you can better prepare your business for any major changes and plan out how you’re going to deal with any problems that you might face.

Secondly, you’re able to estimate an increase or decrease in demand based on patterns and insights that you’ve gathered through historical data, or through predictive trends. This will allow you to plan ahead for an upcoming increase or decrease in sales; so you’re able to speed up or slow down production and employ or let go of staff to deal with changes in demand. The ability to be and remain dynamic is a powerful weapon.

And last, but certainly not least, with forecasting you’re able to allocate the necessary time and resources for emerging possibilities, rather than relying solely on guesswork and gambling. It allows for calculated risk-taking and prepares you to deal with the outcomes that could be either damaging or beneficial.

Research has also proven that businesses that prepare for the future outperform average ones by 200% higher growth and 33% higher profitability.

3 Ways To Approach Foresight 

Okay, so I can’t give you a crystal ball or a black mirror to use for scrying, but I can provide some tips that will help get you started with making effective and promising predictions.

Listed here are a few of the methods that can be used to get started with forecasting. Remember that not all forecasting is based on looking into the future for possible change, but gathering insights through any form of data that will ultimately come to affect the future of your business.

Use The News – the news acts as a great source of recurring trends and patterns that indicate changes in the environment, industrial landscape and technology.

By using the news to predict certain shifts in behaviour based on impending change, then you’re able to work on promising solutions or strategies when changes occur. Think about how companies like Apple saw the changes in technology with regard to music, bandwidth and connectivity, in turn creating the iPod, iPhone and MacBook; or Canon looking past analog film and exploring digital photography, giving us access to the amazing DSLR cameras of the day.

Look At Quantitative Data – with quantitative data, you look at existing data based on purchase statistics, historical shifts and current technology. You can use your company data to discover patterns and coincidences that help you mould new strategies, additions and solutions.

With this approach, you can look at trends and changes in population, culture, technology, the environment, etc. and make predictions to take action based on the data that you’ve collected over time.

Use Qualitative Data –  this type of data isn’t too focused on stats and figures, rather you gather opinions, knowledge and thoughts from your staff, leaders, customers and executives.

Using collected data from these sources could bring a lot of insight for your business; what changes could benefit the company, ideas for new services, suggestions to improve the customer experience, and even external predictions and thoughts into what might happen in the years to come. Listen carefully to outsiders and insiders to make better predictions.

Start Looking Ahead 

Being aware of the knowledge that history might hold, the information that the present keeps hidden and looking into where the future is heading will help you formulate new decisions to enhance and improve your business.

Historically, certain patterns and events end up repeating themselves; currently, there are new technologies creeping in and slowly changing the way that we do things; and while the future might be filled with ambiguity, the futurists, innovators and Elon Musks of our time all have a vision and idea about what the future might hold – so watch them carefully and prepare for the inevitable.

I don’t have a crystal ball, but if I did, it would show me that you and I are capable of doing great things together.

My foresight tells me that your business could make use of some new insights, changes and improvements that only a business coach like myself could offer.

So, take a glimpse into the future and see yourself working with me to make that business of yours remarkable, impactful and transformative.

Do it. Or Don’t. The choice is yours:

+2783 253 3339 + brent@spillly.com

 

 

 

 

 

 

 

Jun 09
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Culling And Stacking Staff – Your Vitality Curves.

By Business Coaching Consulting Hiring No Comments

Every single business needs a great level of attention paid to retaining the right staff and culling those that don’t fit the ideal avatar of a suitable employee.

It can certainly be a difficult or tough process to undergo, but in order for your business to be as successful and as progressive as possible, there needs to be a level of measurement applied that will determine which staff contribute the most and those that are the most destructive to your company.

And in coming to terms with those that don’t bring any value, that are a weak culture-fit and that simply can’t grow – you need to get that rifle locked and loaded and begin hunting.

Rifles Ready; It’s Time To Go Hunting 

As a business coach that comes into contact with so many different businesses and entrepreneurs, there’s always an apparent vitality curve that needs evaluation and consideration.

Within the vitality curve you always find a small percentage of employees, around 10%, that sit on the edge with no value to bring to the company; these employees tend to be a bad fit in both productivity and culture. While they work at a slow pace, with low-output and a distinct inability to get certain responsibilities done, these members of staff are to be considered problematic for the healthy operation of your business and need to be pushed out.

The greater portion of the curve, which is generally around 70-80%, will be the staff that perform at an average rate and do the job well-enough to have the business operate effectively. These employees generally make up the majority of your business and keep it functioning at a healthy level without hassles and the requirement to possibly terminate them. I recommend training, motivating and incentivising those that fit in this category.

And finally, you’ll find on the other end of the curve your company’s top performers, also around 10%, which drive your business in the right direction and bring better profits, efficiency and promise. These employees should be treated with a higher level of respect and should be compensated, accordingly. Give these staff members great incentives, prizes and/or motivation to keep doing an amazing job.

When it comes to dealing with the bottom 10%, your poor performers, then it’s recommended that you find ways to get rid of them, either by firing or working them out of the system.

As criticised and difficult as this method might be, you need to cull this group of non-performers, as they act as leeches to the company – constantly feeding off of your business and never bringing anything to the table.

The former CEO of General Electric, Jack Welch, is famous for doing exactly that; firing and getting rid of the bottom 10% of performers on a yearly basis, keeping his top 20% of performers incentivised and motivated, while coaching and training the other 70% in order for them to keep developing and progressing in the business.

Even with a strong defense and great interview approach, there will always be a few rotten eggs that end up in any business, so it’s helpful to divide, categorise and select those that need better incentives, more training or to be culled.

This method is quite popular in some of the biggest companies out there and is often referred to as “rank and yank”, where employees are ranked and yanked out according to how well or poorly they are performing. It ultimately makes way for a better performance culture and the overall efficiency of the business.

It’s Not Always Fun, But It Needs To Be Done

 Obviously it takes up loads of time and energy to proactively get rid of staff and ensure that you’re constantly evaluating which of them make a good fit every year, but you’ll come to see that it becomes a necessary evil.

While it can be highly criticised and seem like a harsh route to take, your business will reap the many benefits that come with a strong, determined and high-functioning environment of performers that have what it takes to keep you on a trajectory of growth.

Keep in mind that you’re not being vindictive or malicious, but rather keeping your company’s best interests at heart.

In the belief that everybody deserves a second chance, you are more than welcome to act on that and give every employee a chance to improve and deliver on expectations. Offer training, coaching and advice to help bring about a change in attitude and if it doesn’t work, then you know that your rifle is in arm’s reach and ready to fire.

Remember that you also might run into dishonest and malevolent employees that might not necessarily deserve second and third chances, but that should be fired and replaced by someone with more promise and that will appreciate the opportunity to work for you.

Also, be open to creating an environment that takes care of average employees by training them and giving them the opportunity to grow in the company. This keeps them hungry and motivated to reach the status of a top performer and will most certainly bring positive results.

Finding difficulty in taking aim of the staff that need culling is a common occurrence and you don’t need to worry, because I’m here to help you with that (and a whole lot more). My coaching services include rifles and ammunition, along with the tracking techniques to sniff out and determine those who are detrimental to your business. Let me in and I’ll show you how it’s done.

We can meet via Zoom call, face-to-face, at the shooting range, or even a traditional phone call will work wonders. Let me know how I can help you:

+2783 253 3339

brent@spillly.com

Jun 03
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Bullwhipping The Sales Machine Out Of You!

By Business Coaching Entrepreneur Sales No Comments

Thinking back to some old-school (and brilliant) pop culture, Indiana Jones definitely comes to mind. Such a legendary character that brought true action and adventure into our hearts that satiated our imaginations with all the right choices. Ah, the nostalgia.

One of my favourite trilogies of all time (of course, they had to butcher it and turn it into a pentalogy, with a fifth being introduced in 2022), I was hooked like a salmon to a treble hook and was in total awe of his ability to use the bullwhip like a proper Spanish Vaquero.

Using that bullwhip effectively is no easy task and understanding how it works will add a bit of bulk to the analogy I’ll be providing for you today.

My Whip Is Longer Than Your Whip 

In those years, when cowboys mattered, the size of the bullwhip determined the strength and ability of those capable of wielding such a responsibility. The bigger the whip, the stronger you were; not to be mistaken with small-dick syndrome and the overcompensation that comes with having the most expensive, phallic-shaped car possible.

By using it as an analogy for sales and referrals, you need to be aware of what it does and how it works.

Being quite a difficult process to get started, there needs to be a lot of work and strength put into initiating the circular motion that will gradually expand in circumference to eventually send out the tip as far as possible. This is done in order to create a loud crack through a small sonic boom made by breaking the sound barrier.

So, how does this translate to sales and referrals?

Obviously, in order to get new clients, you need to get out there and do some heavy lifting of your own, pushing down on your sales team and using the right marketing tools, while setting aside your pride and asking for business.

Like the bullwhip, getting it going can be difficult to do, but once there’s momentum built-up – it becomes a lot easier to manifest your intended outcome. It takes a lot of strength and effort to go out and land your initial clients and deliver value and a quality solution to them; but once those clients are involved in the process of buying on a regular basis, they will start referring you to others with comfort and confidence.

Similar to the cone that a bullwhip forms, which gets wider and wider as you spin it; so do your clients continue to expand until they reach a tipping-point, where referrals start happening.

At that point, you don’t have to put as much effort into sales and marketing, but you just have to maintain the quality of work that you’ve been producing.

You need to be aware that in order to become a referral-based business, you must look at it as a long-term goal, because in the short-term phase of your growth – you need to be far more aggressive and proactive and go out there to do your marketing.

Pace Yourself And Crack The Speed Of Sound

 In sales, the pace in which your sales leads grow is directly related to the effort that you put in at the beginning of the process.

As soon as you start selling and landing new work, the sooner referrals will pour in from those clients and you’ll build a portfolio of work that will fetch positive PR that can be used as content for your marketing strategy.

In your business, you act as the wrist that will provide motion to the bullwhip; speaking to as many relevant people as possible, advocating your business and driving awareness to your service and USP.

The faster you whip those sales, the larger the sales will be and the easier it becomes to maintain those clients and the referrals that will come with them.

Now, before I whip you, get going and drive those numbers up.

Get those referrals flowing to you like a well-irrigated rice farm.

And be sure to include me in your ass-whipping journey; I’ll provide you with a bigger, stronger bullwhip, one that won’t just break the sound-barrier, but shatter it.

Get in touch for a lunch, a chat or to see who might even have the bigger whip:

+2783 253 3339

brent@spillly.com

 

May 31
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Stop Playing In The Middle; Pick A Side, Dammit!

By Business Coaching Entrepreneur Strategy No Comments

A big part of building a concrete business strategy is in deciding the market that your company is going after, which can be difficult as every market is unique and all of them have certain dynamics that are to be considered when taking them on.

Every business also has a different approach as to what they are going after and within that playing field there’s always opposition to be considered. As a business owner, you want to find space where you’re not in direct competition with that opposition.

This is why I’ll often recommend to my clients that they should always consider and keep fully aware of the market that they are aiming for to adopt their product or service, as it’s not always a clear-cut path.

“Where Do You Play And How Do You Win?” 

As you’re going through the process of finding the right market to deliver to, your awareness shifts to dynamics such as size of market; the geography of that market; the LSM and earning potential that comes with those potential clients; and whether you’re targeting a large, mass audience or a very niche and particular audience.

Within every product or service, your market can often be divided into two categories that sit on either side of those dynamics mentioned. Bear in mind that there is always room for a middle-ground, but that’s the space that you want to avoid when picking a side.

I like to look at the two sides as the Rolls Royce and the Chappies sides of those industries; the Rolls Royce side refers to the most expensive, exclusive and niche markets, while the Chappies bubble-gum side refers to the cheaper, high-volume and open markets.

Essentially, your goal is to pick a side and work your product or service and customer relations into one of those sides, while keeping away from the middle.

It’s better to pick either the low-volume, high-margin route or to take the high-volume, low-margin route, as the markets tend to be split and function better in one of those two areas.

In South Africa, when you take a look at the retail and food industry, we have Woolworths that takes on the Rolls Royce model, with careful attention paid to high-quality import products that opt for a smaller target market that are willing to pay higher prices. They dominate that area of the market, with a greater experience to offer their customers and a more comfortable environment; which ends up being a bit more costly.

In comparison, you have the Shoprite brand that adopts the Chappies model, where there’s access to a much wider market, but with much lower pricing on their high-volume products which cater to people with lower incomes. The experience isn’t as great and less attention is paid to making the customer feel far more comfortable and at home, but the pricing is far cheaper and there are far more customers at the end of the day.

These two models work very well for the businesses in these spaces and when you find some companies that try to sit in the middle, like Pick ‘n Pay, there’s always a challenge to deal with as the bottom takes up most of the volume-based market, while the top takes the niche and exclusive market; while they struggle from the middle to cater to both ends, taking fire from both sides.

Pick A Side And Stick With It

 When picking and deciding on your target market, be very deliberate as to whether you want to find and attract Rolls Royce (high-touch, boutique, exclusive; better experience and enjoyment) customers or Chappies bubble-gum (lower priced, high-volume, wide audience) customers.

You will do your business the world of good if you choose to focus on a particular market and ensure that you deliver the best possible product or service that you can. Don’t fall into the trap of chasing shiny pennies that distract you from picking one side.

Try to avoid the middle and keep away from attempting to make both sides of the spectrum happy, as it doesn’t always work out for your business in the best way. You’ll be left under a load of strain as you compete with both the cheaper and expensive model, rather than dealing with one competitive force by choosing one of either side.

Take the time to consider the pros and cons that each of those markets present you with, weigh it out and determine which area suits your product or service best.

Being a fence-sitter has never really worked out too well for anybody, ask Humpty Dumpty.

And there you have it, ladies and gentlemen, picking a side and being firm in that decision will help your business blossom in the best way possible.

The same applies when choosing a business coach to assist you in taking ground-breaking leaps to achieving the best your business has to offer; it’s either you want me in your court, or you don’t – there’s no time for indecision from the middle.

So, let me know whether or not you’d like to have a meeting, a chat, a face-to-face or a much-needed wake-up slap:

+2783 253 3339

brent@spillly.com

I’m kidding about the slap, but I mean, if that’s your thing… I know people…

May 26
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7 Great Reasons To Start A Business Today!

By Business Coaching Entrepreneur Lifestyle Motivation No Comments

Sure, starting a business is no easy task and it certainly comes with its struggles and challenges, but the bulging benefits of starting one are far too many to ignore.

From the freedom and autonomy that comes with becoming an entrepreneur, to the skills, experience and purpose that you’re able to develop along the way – starting a business will open up new, empowering horizons that you never thought possible.

Freedom And Autonomy

 In starting a business, you’ll find that you take away the pain of working for a boss or within a hierarchy that might have an uncomfortable culture to deal with or operate in.

You allow yourself to feel the independence and freedom to do as you please when creating the environment of your choice. Have you always wanted to be a better leader, have a better system for employees, or a peaceful and productive environment to work in?

If that’s the case, then by creating your own business, you take control of the steering wheel and make the decision to operate in a better way for everybody. This will give you a strong sense of control in your ability to create change and mould something incredible for people to respect and admire.

You’re free to be who you want to be and make the right changes, while enhancing the lives of those around you. You’re free to play golf all day or spend time with your family and go on extravagant vacations.

Achievement And Pride

By taking that level of control in building out a business, whether big or small, you’re left with a level of pride around the hard work that you’ve put in to achieve something memorable and impactful.

You can rest with a clear conscience around the fact that you’ve taken the risk, effort and time to create something from nothing. The improved self-esteem that will come with that drive and ambition will give your ego a facelift and have you feeling like a king or a queen.

It goes without saying that humility is always one of the best traits to keep in touch with, so avoid arrogance, but embrace the fact that you will certainly be dripping in confidence and come out looking and feeling sexier than ever. Just like building anything from scratch, you’ll be proud and feel great about what you’ve achieved and succeeded in doing.

A Healthy Bank Balance 

It pretty much goes without saying that running your own business will help you in achieving far more financial freedom than you would by working a normal job.

Obviously the responsibilities that come with paying employees on time, taxes, rental fees and other costs will take away from your earnings, but when going about it the right way – you have a world of potential profits to look forward to.

The money that comes with running a successful business can help you build even more businesses, retire early or live the lifestyle of your choice. It ties back to having a sturdy level of freedom and autonomy in your life, which gives you peace of mind when doing what you want to do.

Skills And Development 

As great as the freedom, money and pride that come with running your own business can be, you’re able to develop a wide range of skills and abilities that you simply can’t put a price on.

While building your business, you learn more and more about the different approaches, models, strategies and tactics used to take your business to the top. This allows you to view everything around you in a completely new way; seeing opportunity in places you wouldn’t have expected, spotting marketing strategies that you were unaware of before, developing your insight and mind’s eye to take on and navigate through uncertainty.

You grow in ways that you wouldn’t have expected and as you explore new avenues of interest, you begin mastering the many different facets that come with all of this dynamic and constantly progressing information.

Learning how to use technology and infrastructure to your advantage; understanding how the laws around particular industries and markets operate; and the knowledge of your own potential and limitations provides insight into the person that you are.

Meaning And Purpose

We live in an age with so much to offer, with plenty of paths to choose from and without any direction or purpose it can be disheartening and somewhat demotivating when we run into existential crises; left confused and battered by unfulfillment.

By starting a business where your passion can be the driving force or even in discovering new interests through this process, you find purpose in the world and see that it’s far easier to navigate through life knowing that you’ve left a positive impression and footprint for everyone to see and feel its impact.

This sense of meaning can bring about wonderful changes in confidence, self-esteem and balance in your life as you know that you’ve done something meaningful on this earth, while taking away loads of skills, insight and a developed character.

It’s difficult to find meaning and purpose, so starting a business can certainly be rewarding in that sense. You’re kept busy with growth and improvement, becoming more fulfilled by the day.

Causes & Charity

One of the more philanthropic and selfless reasons to start a business is the fact that you can make a significant contribution to the causes and charities of your choice, especially as a reputable business. You’re able to make more impact and a greater difference in people’s lives and contribute to the movements that you see fit.

Fighting for a particular ideal can give you plenty of joy and happiness in different areas of your life, again raising self-esteem and confidence in yourself.

Your business can also act as a sign of hope and relief to the different charities and organisations that seek to make a difference and better the lives of people. PR might not be on the top of your list when doing good for others, but you will naturally become recognised for the good that you do and it will be far more rewarding to yourself and others.

If you’re a person that wants to help make a difference in huge and meaningful ways, but find it difficult to do this on your own, then starting a business can push you to make better changes for those that you see fit.

New Experiences 

Working on your own business will bring about new experiences and viewpoints on reality and the world around you. Opening your doors to new situations allows for better personal growth and a deeper level of understanding around the way that life works.

With these new experiences, you’re always kept busy and constantly engaging with so many new perspectives, leaving you with knowledge and wisdom on a wide variety of subjects.

You will encounter numerous personalities that you need to work well with and understand, industries and markets that operate in certain ways and people from all walks of life that open more doors of opportunity to you.

This will force an evolution and a valuable change in your emotional intelligence as you begin to view people and situations differently than you had before, allowing more experiences and moments of magic to come into contact with.

Bonus Reason No.8 

There you have it, 7 great reasons to start a business.

But, there is an 8th that I’d like you to be aware of.

If you start a business, you’ll have the opportunity, nay, the advantage of the advice, knowledge, experience and insight of a brilliant balding bearded business coach.

Not all business coaches come with that alliterative function, so I’d definitely recommend checking him out.

He has what it takes to have your business blossom with all of the right strategies, tactics and research you could ever need; he is trustworthy, credible and driven; he is motivating, energetic and creative.

As I unmask and reveal to you, while no more referring to myself in the third person, that I, Spillly, am the best business coach for you, do yourself a favour:

Start a business and get into contact with me.

+2783 253 3339

brent@spillly.com

May 24
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Sacrifice Versus Stimulus

By Business Coaching Consulting Innovation Strategy No Comments

I’ve come to find that within a growing number of industries, more specifically in  tech-dominated spaces, that more and more entrepreneurs are becoming reliant on the idea of finding investors, or some form of financial backing before taking their solution to market and starting a business.

This notion that there needs to be funding or some form of stimulus before making the decision to create a business is somewhat ridiculous, in my opinion.

I don’t know if hard-work, sacrifice and the due diligence required to prove oneself in the market isn’t as important anymore; or if I’m just outdated.

Doing Sales Versus Hunting Down Investors

 I’m finding it quite interesting that more and more potential entrepreneurs are avoiding taking a route to success through the sacrifice of time, effort and resources in order to get their company started and off the ground – instead they opt for some sort of external funding.

This sort of logic shows that it would be wiser to spend precious productivity on chasing down investment and financial support in search of someone to fund your dream business – when all of that drive and ambition could be spent on developing the product and sales strategy to achieve that goal through one’s own volition.

There’s a lot of conversation around the idea that starting a company without funding is far too difficult or strenuous to be achieved in this day and age, and that spending time on a sales deck to lure in an investor would be the right way to go about making this happen.

But very few start-ups need this type of external investment and I find it a bit lazy to avoid the more traditional route of sacrificing your own resources and pushing your hardest to achieve success on your own terms, without the need for that sort of intervention.

I’m not saying that investors are a bad thing, either, but when too much emphasis is placed on financial support, it can be somewhat problematic and hinder your growth as an entrepreneur.

If the time is taken to develop the product or service and some sort of financial sacrifice is made to put your solution out there, then it’s far more applaudable and attractive to potential investors that could provide funding further down the line.

By putting more ambition and drive into your product or service and showing that you believe in what you’re bringing to the world, you’re likely to achieve far more results.

Other than the achievement that comes with that desire to make the necessary sacrifices to start a great business, you’re granted far more autonomy and freedom in the decision-making processes and feel much more empowered at the end of the day.

As someone that has invested and provided financial backing to people and their dream businesses, I always consider certain criteria and would never blindly give away money without weighing out the attitude and character of the entrepreneur, first.

That being said, one of the biggest motivators that will attract me towards investing in a potential business owner is their ambition and the momentum they’re able to create in pushing their solution through sales, sacrifice and determination. There’s a certain level of reluctance I feel toward giving my money to someone that doesn’t show me that they have these qualities and don’t have enough belief in their solution to brave the storm themselves.

I suggest to anybody that wants to start a business and conquer the mountains that come with being an entrepreneur, to have enough belief in their product or service to first engage in the sales, marketing and make the sacrifices needed to brave that inevitable storm.

If your ambition is to be an entrepreneur, a successful business owner and believe that you have what it takes to take your solution to the market on your own terms, but require a bit of guidance and advice: as a successful business coach, I can help you with that.

Perhaps you’ve been putting in the effort and have a solution that you know is of real value to particular markets and industries, but can’t get past a certain point and might need some financial intervention: I can also help you with that.

It’s quite easy to grab my attention, as my phone is always fully charged and I’m constantly reloading my emails page, waiting in anticipation for a client just like you – so, let’s make something happen, soon: [small investment required]

+2783 253 3339

brent@spillly.com

 

May 13
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Selling Your Business? Well, Here’s What Buyers Look For

By Business Management Consulting Entrepreneur No Comments

I often call bullshit for the litany of reasons that people sprinkle on me for wanting to start a business; talking about wanting to make an impact on the world, a dent in the universe, change and better lives… Such a load of crap!

Spare me the soft, fluffy and sordid motivations behind starting a business, we all know that often, the biggest driving force behind that decision is money – cold, hard cash.

9 times out of 10, people predominantly want the wealth and power that comes with owning and running their own business; perhaps enjoying the journey along the way, while making a positive impact and supporting people in that venture of self-discovery.

When digging deeper, though, I find that quite a sizable portion of my clients have the goal of creating a business just to sell it down the line, cash out and then retire with millions in the bank.

These people often don’t go in with the right mindset to approach that in the best possible way – that’s where I come in.

Cut The Bullshit; Let’s Call A Spade, Well, A Spade.

By identifying that your mission is to ultimately work on creating a great business in order to sell it 3, 5 or even 7 years down the line, you’re already on the right track to discovering what it might take to find the right buyer.

A lot of people try to build a business with the sole intention to sell that business. There is absolutely nothing wrong with doing that and I will often push for my clients to find the right way to go about it, if that’s really what they want.

As a business coach and having successfully owned and run a few great businesses, myself; I know how to make a business run beautifully, but I also know a gorgeous opportunity when I see one.

Clients will often approach me and tell me that that’s what they want to do, the route that they want to take and I make them ask themselves a few important questions, “firstly, what does the buyer of your business, in five years, look like?”. You should ask yourself what kind of business or buyer will want to buy your business and what makes your business attractive to them.

It’s absolutely crucial to put yourself in the buyer’s shoes and define what it is that you’re looking for if you were the one wanting to buy a business.

What To Flaunt In Your Business, So That You Find The Right Buyer

There are numerous factors to consider when looking at it from the buyer’s perspective and you should ensure those factors cross your mind in some way or the other, so that you make the most desirable and mouth-watering business, possible.

Most of my clients run businesses that provide the service of selling time, so the approach is fairly different to all enterprises, but many of these aspects can be applied to one that is product-based, as well.

To flaunt that sexy business of yours, you want to take note of a few very important things, such as brand value and how valuable or desirable your brand is; how deep your defensible moat is in protecting the business; the lifetime value and scale of your clients/customers; how stable your profits are; and the overall quality of your product and clients.

There’s plenty more to be discussed and it will turn your company from a typical, boring 6 to a desirable, gorgeous catch of a 10!

Starting with brand value: in the past, I was offered a very tempting amount by a large multinational to buy one of my product lines; interestingly enough they didn’t want product, stock, people, nor the assets – they simply just wanted the labels and the brand. It fascinated me that all they wanted was to take over the IP and this taught me the real value of the brand that you present to the world. The way your business looks, is presented and talked about is crucial in selling to a potential buyer.

In creating a product or service that is difficult to replicate or duplicate, one that is expensive for anyone to hop into the same market and to compete with; you begin to form an impenetrable moat around your business, so that it becomes even more desirable to the buyer. Vertical integration (do you own the service, product, supply chain, outlets?) will make that moat run even deeper, like a bottomless pit. The more vertical integration there is, the more stable you are and the more likely your business will sell.

Next, your clients become just as important: as long-standing customers that bring lifetime value and a stable income are golden-nuggets to the buyer. If your overheads are always covered and there’s a consistent flow of profit coming in, the likelihood of making that big sale increases drastically.

Do you have all of the necessary contracts in place? Contracts between you and your clients, between you and your suppliers and any other stake-holders in your business are all of value to the buyer. Ensure that all of those contracts are rigorous, so that no unforeseen circumstances rock-up and that nobody can just walk away with no obligations.

Take a stroll down memory lane – generally around the last 3-5 years – and determine how consistent your profits and revenues are, while identifying whether or not they are continuing to grow, or if they are in decline. The person that wants to buy your business is ideally looking for consistent (and consistently growing) profits. Having one great year and one shockingly bad year will make any potential buyer a nervous and reluctant wreck. It also doesn’t hurt if your revenues and profits are higher than that of your competitors.

Quality clients are also very attractive – do you supply large multinationals, do you supply large, comfortable and secure businesses? Or do you supply lots of bottom-feeders that tend to be inconsistent and unpredictable? These questions can make or break the attractiveness of the business. If you have consistent annuity-based clients with great reputations, you will tickle the buyer’s taste buds.

If you have intellectual property, or proprietary technology that’s patented and protected; a stable management team with trustworthy and reputable leaders that are suitable for advancement in your business; and a variable overhead, where the staff and employee-base is small enough to cut back on and find freelance work if crises like Covid might arise: you’re on the right track to finding the most suitable buyer for your business.

Most buyers also look at geographical reach and whether or not you dominate only one province, or city, or if your reach extends to the entire country or even a global customer-base; also, an excellent and high NPS (Net Promoter Score) that indicates how likely your clients, customers and staff are to refer you and whether or not they adore and believe in your business, willing to spread your brand like unrelenting Jehovah’s Witnesses.

It doesn’t end there, trust me.

Synergy also becomes important to the buyer, as potential savings are always a major benefit to them. If the buyer has the option to immediately save money by removing some of your costs, because they already have it built into their business, it becomes more desirable. An example might be that your business and theirs have a full-time server, where they can transfer everything to one of the two and cut back on some of the costs of operating both. This can also extend to particular staff that both businesses might have, like a bookkeeper that can be let go of, because they already have one, or in the delivery of products and distribution (instead of using two trucks, transport duties can be shifted to one).

Is your solution plug and play, that it solves the buyer’s needs so that they can plug your solution into their client-base with ease?; what is the level of automation in your processes and policies, so that there isn’t huge reliance on extra employees, that it is fully-functional and works fluidly without too much human interaction; and does your USP differentiate you in the market and is it very obvious to the potential buyer?

Finally, does your business sit in a ‘blue ocean’ marketplace? Is it in a clean environment that has plenty of opportunity to dominate that market or industry, or does it sit in a ‘red ocean’ market that is surrounded by constant competition, rivalry and challenges? It’s far more attractive if the buyer doesn’t have to deal with strong competitive forces and can dominate that area with far more ease.

Throw All Of Those Ingredients Into The Crucible

 In taking all of those elements into deep consideration, you create a solid business that any buyer would leap at the opportunity to acquire it from you.

Your goal is to make it as attractive to the potential buyer as humanly possible. By paying such careful attention to what they would be looking for in a business, you’re able to create the most impressionable and desirable set of circumstances to sell.

Now, with you filling the shoes of a prospective buyer, are there any other important things to consider when looking to buy a business? What else would have you gunning for the opportunity to take over such a high-potential company?

I want you to walk away that much richer, having made the right decisions behind selling your business and for the highest possible amount. All of this with the peace of mind that both you and the buyer will be happy with the decision you’ve both made.

Who knows, maybe if you tick all of those boxes correctly, you might find that your business is a keeper and end up hogging it all to yourself.

If you’re looking to sell your business and are in need of an evaluation, based on what I’ve talked about, definitely hit me up. We can run through your goals in attracting and manifesting the most suitable buyer and what exactly it’ll take to sell, effortlessly.

I’m a phone or video call; a lunch or a quick beverage; a whatsapp or an email away from making your dreams a reality:

+2783 253 3339

brent@spillly.com