Skip to main content
+27 83 253 3999
Category

Consulting

Aug 18
Love0

Growth in your absence: How to take a sabbatical without your business needing you

By Business Coaching Coaching Consulting Strategy No Comments

Here’s the dream for most business owners…

They want to mature a business to the point where they can take 3 months off at once and not open a single email from that remote beach in Tahiti. Now imagine doing that and coming back to a business that has grown in sales, margin and people?

Impossible? Well, not really. I’m going to show you how.

But first, why are you doing this?

You want your business to thrive without you

While you, Founder and CEO, are working in the business daily you are not always able to see which elements of the business can’t survive (nay! thrive!) without you, as you just keep smoothing over those cracks with your time and remarkable skills. The trick is to step away and let the team swim in the deep end. But not all at once.

Start with one week first

Start with setting a time-based goal. Let’s say in 3 years you want to take off 3 months and not worry about the organisation you have left behind, you’ll need to train that muscle first. So start with one week. Here’s your to-do list:

One. 

Play pretend leave.

Plan a week’s “holiday” in about a month or 2 from today.

Two.

See if your 2IC can see you through the choppy seas.

Pick your 2IC [second in command] and let him/her become the central bottleneck and filter for all information in the business in your absence.

Three.

Daily information you want to know.

Decide on which key pieces of information you want to know daily, and when and how you want to receive this. Examples are; sales, pipeline, profits, marketing metrics, people metrics, retention stats, cash flows, volumes of delivery, process changes and general red flags.

Four. 

Create a RAG rating for the daily information 

You should also then categorise all this info into a RAG rating [Red, Amber and Green].

Green: Items you want to know about that are in the band of acceptability.

Amber: those that have some level of issue and escalation, but are being managed internally. You are not needed. Revert back to ice-cold G&T.

Red: Concerns, problems or issues that the team and your 2IC can’t manage. G&T is set aside to deal with issue urgently.

Five. 

Wrap that information up, tweet style.

If you had to condense all this info into a single “140-character tweet” – how could you do that and get that via Whatsapp/email once a day, at close of business? That’s what you need to do before you depart.

Six. 

Don’t leave yet! Test it first.  

Test this model for a few weeks before you leave. Explain to the whole company that you are on holiday [dammit!] and will not be available unless there is a genuine emergency [marked as RED.]

Seven. 

Pour G&T…and watch.  

Take the week off, allowing the team to manage and maintain the business with no expectation of growth or anything fancy. The team must track all issues that cropped up that they could not deal with.

Eight. 

Compiling the fracture list

From your time away, you’ll build a list. It includes the issues that cropped up while you were away that couldn’t be handled without you as well as the parts you always cover anyway (that were not delegated to the team in your absence). These are the fractures in your business that need repairs.

Nine. 

Fixing the Fractures (metal rods, plates & screws not needed)

Over the coming weeks, create processes and train your team on how to handle and think about solutions to the problems that arose while you were away.

Do you want growth in your absence? 

Then take leave again…and again…and again.  

Every time you go away you are stress testing the business. Now plan the next trip. If you can, make it a few days longer and again follow the steps above. If you keep adding days to the “holidays” and repeat the process every 2-3 months, you should be forcing the business to mature internally to a point where it can at the very least maintain itself. Now to be clear, when I say go on holiday every couple of months, you may not practically be able to do that but then afford yourself the time to work away from the usual spaces. Gift yourself the time to be strategic in nature, so that you can build more structure and process in order to take the next big leap – growth in your absence.

Freedom begins when you give authority, training and trust

After a few repetitions in this cycle, you should see obvious brittleness in some of your people, your operating processes and the dependency of the business on you.

Let’s be honest, you are still most likely overseeing invoicing, sales and high level client engagements – all tasks that you must solve for by giving authority, training and trust to people in the business to solve. Remember if you are doing a task the same way more than once it should be automated, delegated or outsourced.

Share this article with your COO, 2IC or your whole team. You’d be surprised as to how excited your people will get at taking on more autonomy, decision-making and strategic responsibility. In this context, sharing really is caring.

@Spillly

 

[Extra special shout out to heavyweight B2B content writers at Shelf-Made for the edit!]
Jul 05
Love0

With every rand you bill, you are losing money

By Business Coaching Consulting Strategy No Comments

Over the past three months the amount of clients asking if they should be billing offshore and how to find clients overseas has almost consumed my engagements. It’s clear that with the current South African economic climate, the ‘strength’ of the rand and the huge Covid unlocks in terms of selling and delivering remotely, “Africa, your time is now.”

 Why aren’t you billing in dollars, pounds or euros for your precious hours? 

Consider this [and please don’t stone me for this later]: Shipping skills north of the equator removes the BEE constraints of doing work in South Africa, can unlock anywhere between 50% and 200% more rands per hour for the same work [considering you are world class at the services you peddle] and it has genuinely never been easier to do than right now.

If you get this right, and I am not suggesting that you leave the cash offshore and skirt SARS, let’s be honest, setting up smart and legal structures may be of advantage to you and may also feather your Plan-B nest. God, I love mixing metaphors. Also, that second beer just kicked in.

So how do you start and what should you consider?

You are almost starting a new business. Don’t forget some of the fundamentals of that. Consider the quality of your skills [and match clients], consider your differentiators and remove frictions that your opposition [in your target market] don’t have. Like what?

Start with banking. If you intend asking your client to bend over backwards and pay you in a manner that becomes a pain point for them, you may lose them in the sales process. Ideally when a client asks, “So how do I pay you?” you should say, “Just like you pay your local suppliers!” Solve that.

If you consider yourself a BPO [Business Practice Outsource] solution, then be aware that prices may become your forced differentiator. Think Indian call center – high volume, low margin. Not ideal. So, what is the local market paying for your services and if that average is “100%”, by what % margin do you need to be cheaper for the client to consider using you? Between 10% and 40% is probably the needle mover but then again, why discount at all? Rather compete on a different USP and at the same price. If you are that good, then why not ask full price? Price is race to the bottom and you are most likely not set up for low touch, high volume, razor thin margins, are you?

Network. If you have lived, studied, and worked in South Africa, you know expats, lots of expats. You just haven’t applied your mind as to who that is. Start with that ex-girlfriend/boyfriend, the one whose heart you broke and ended badly and haven’t spoken to for 10 years. Ask how they are, where they are and who they know that can spend money with you. Okay, don’t start there, but go deep into your ecosystem and make friends again with people living abroad that could be a degree removed from your next customer.

Another way to get your name out there is to target the middlemen – businesses like yourself that either don’t do the same work as you but live in the same industry sector and may be able to use you for overflow work or even [better] mark you up and resell your services. My first prize is to find people who will place you directly in front of leads for a referral fee. Yes, set that up, and offer it when applicable.

Going direct is hard, I know, but way cheaper than paid media and Google ads. We as South Africans have no comprehension how competitive that landscape is until you try bidding on words in London or Hong Kong. Direct = LinkedIn. Direct = email. Direct = cold call. Did I mention direct is hard? It’s a volume game and you should play that endless game with patience and grit.

We speak English [mostly good enough] and are for many regions, in the two- to three-hour time zone that works for them. We are easy to reach [outside of loadshedding hours] and our quality of work and most importantly, our work is ethic, is world class. [I feel that South Africans work like dogs, mostly.] Some of us even speak Portuguese, Hebrew, German and other second languages that help us diffuse into the local sales mix like frankincense and ylang ylang.

Join the Facebook pages, the forums, the entrepreneur organisations and the local chambers of commerce [yes, some of those actually work in other countries] and preach the word. If that doesn’t work, start looking for South African clients that are part of a global brand, blow them away with your work and charm, and get the global referral over time. That’s a long play, but is most often how I see local clients gain international work.

If you have the money to burn [and burn it you will] then hire a local salesperson/account manager/business development guru and get them to open doors and be the face of your organisation in the city of your choice. When it comes to big city life, avoid the obvious cities. You want London, try Liverpool. You want Paris, try Marseille. You want NYC, try Boston. Did I mention how competitive these big cities are? Look for the secondary and tertiary cities – they are big enough for you and your ego, I promise.

Once you have decided to target and dominate your city of choice, ensure that all your owned marketing channels and content speak to that city and ideally the industry of that city. If I hit your website, it had better say why you are the “Most savvy agency in the Norfolk region for the fintech SAAS start-up.” Own the geographical niche. Then get back on the direct outreach and be hyper focused. You probably don’t need 100 clients. You just want five that pay twice as much as your local clients. Lastly, on this point, immerse yourself in their local knowledge – who are their politicians, musicians, soccer heroes and idols that make for quality presales chit-chat? Grease those sales wheels, baby.

Make no mistake, you have a challenge in SA with finding and keeping local talent, and one of the reasons is that they are leaving physically or leaving the local market to sell in Sterling and now you just can’t afford them. Your SA clients can’t pay those kind of rates, so find ones who can, and leave you a healthy margin.

It’s about to get very competitive in South Africa. Local brands will have to start paying more for quality output or lose the chance of working with you and your team to a truly global marketplace that will find value in you and not have to swallow a giant price pill. Get a foot in the door, show your value and barge that door wide open! You can do this. It’s never been easier or more profitable. No more excuses.

Disclaimer. This was written without editing on a late night flight from Cape Town to Joburg after a few beers and may rub you up the wrong way. I am open to debate. I know it’s not ‘one shoe fits all’, but you gotta admit there is something here, right?

ps. This post was subsequently edited by Mandy Collins.

May 24
Love0

Weird Flex, but OKAY – The Spillly Testimonials

By Business Coaching Consulting Motivation Uncategorised No Comments

It’s been a rollercoaster 2-years for everybody, and we’ve all had to deal with a crazy and truly unpredictable shit-storm.

But one thing that I can be extremely chuffed about is the adoration and exaltation that I’ve received from my superb, ingenious and downright magnificent clients.

In stroking my massive ego, they’ve made me feel all warm and giddy inside and I couldn’t have asked to work with better people on my journey as a business coach. So, much, much thanks goes out to them!

Endorsements From Every Angle! 

I was recently caught in an avalanche of awesome testimonials by some of my favourite clients and they had a few tear-jerking things to say about how I operate as a business coach.

Apparently, I’m deeply understanding and extremely easy to get along with – being seen by my clients and referred to as a mentor, friend, confidant and a no-bullshit kind of guy.

You hear that? Damn right. I won’t tolerate any kind of shit, be it from a bull or a horse.

Getting back such stunning feedback and praise provides one of those things that we all most certainly love to receive: recognition.

Recognised for my ability to offer practical solutions; high levels of openness and transparency; a deep understanding of my clients’ journey (we’re talking ocean-floor depths); and most importantly: trust.

Any business owner needs someone that they can trust, (and trust me) it gets lonely at the top, where there’s always an abundance of starving, lurking and opportunistic piranhas.

You could say that (although my clients have already beat you to it), I act as an energetic, informative, tactical, straightforward vault of information with a mouth attached. Or a sort-of business therapist, if you want to be boring about it. Never betraying the trust of a client, especially with the amount of highly-confidential information that is hermetically sealed in my big, bald head, I’m tied to an oath similar to that of Omertà.

Waterboard me, whip me, castrate me – try your worst, I’ll never speak.

Definitely one of the coolest compliments I’ve received is that I’m like a smorgasbord – multifaceted in my approach, with so much insight to offer and straight-up delicious (okay, I squeezed in the delicious part, myself, but you get the point).

And another common, cool and creative comment about my coaching-style is that I always bring an authentic energy to my clients, so contagious that it energises them for the rest of the day. How cool is that? These people are amazing!

I appreciate every single one of these clients, friends, colleagues, comrades that I work with and coach – they make me fall deeper and deeper in love with what I do.

So, cheers to them! Cheers to you! And cheers to us seeing the next couple of years through!

Peace.

Dec 01
Love0

Death Or Disability – Don’t Be Selfish.

By Consulting Motivation No Comments

We all try to avoid the inevitable. And even if it’s just a case of thinking about it – death will always deal with a grimace. Although the decision to retire and comfortably wither away with age is one that we all keep close to us – you never truly know what life might have in store for you.

With the world that we live in, it would be naive to assume that being invincible is an option. At any given moment, unforeseen circumstances might take control of the steering wheel and change your life in ways that you could never have predicted.

So, being that life is short and unpredictable, have you taken the necessary steps to ensure that your family, loved ones and those dearest to you are financially and legally secure, should something happen to you?

If not, then it’s time to start gathering your documents and compile your death checklist.

Time Waits For Nobody. So Why Would It Wait For You? 

One of the very first questions that I make sure to ask new clients is whether or not they have access to all of their necessary legal documentation, should something fatal or life-changing happen to them.

And being a business coach, I’ve come to find that a significant portion of large business owners tend to avoid consideration of their personal risks – solely focusing their time and energy on business risks, instead.

But if something had to happen to them, what would happen to their family?

As a business owner, it’s extremely important to know whether or not you have your last will and testament on standby; if you have shareholder certificates between partners (provided you have partners); and if you have insurance for things like income protection and product liability.

Witnessing, first-hand, how so many successful entrepreneurs ignore the importance of having access to that documentation is quite shocking (and irresponsible), to say the least.

It not only puts your business at risk, but your family, as well.

If you don’t have a written will upon death, then you run the risk of your business being terminated and the assets liquidated to settle any debts, with little left for your family; your profits and losses are transferred according to the decision of the country/state you live in; and shares are given to either a spouse, children or valid family member with the responsibility to pay inheritance tax.

This could lead to issues for partners that now find themselves in business with people that they don’t know, whether experienced or inexperienced, and can cause problems between families and shareholders with regards to the valuation of the business.

While it’s essential to have the correct documentation on standby, should something go wrong, it becomes necessary to know which documents you need to have access to. So I’ve developed a checklist of those documents you need as a business owner:

Copy of Your Will –

Where is your will? Is it up-to-date? Does your lawyer have a copy? As I mentioned above, there are certain risks that come without having an updated will ready.

Unabridged Birth Certificate –

Is a birth certificate with the names and identity information of both parents or legal guardians. It becomes important if you have children that might want to travel overseas or if you’re planning to send them for schooling or to relocate.

ID –

Having a copy of your ID or at least making your family aware of its whereabouts is helpful for any legal situations that might arise. It will be used to prove who you are when dealing with the registration of your death, funeral matters and handling your estate.

Marriage Certificate –

Similar to the points made for the requirement of an ID – it’s highly important for when dealing with your will, estate, funeral and registration of death.

Marriage Contract –

This can affect your will and the distribution of assets to your spouse. Depending on whether or not you sign an antenuptial agreement, the marriage contract will help in determining how your assets and debts are shared.

Death Certificate –

Will come to affect certain legal processes if you are to pass away. It serves as the necessary proof for your family to claim life insurance, settle estates and even arrange the funeral

Recent Tax Assessment –

To help define the amount in taxes that need to be paid for that final tax year. There are generally two forms of tax that apply to the deceased: Estate Duty and Capital Gains Tax. The Estate Duty is a tax that applies to the deceased individual’s property and Capital Gains Tax applies to any profit made from selling an asset.

Passwords for banking and devices –

Passing away means that your passwords also get buried with you. In order to give your family access to any money in your bank account(s), they need your security information. And in the case that you have all of the necessary documentation on the death checklist, and it sits on the cloud or in a safe – there needs to be a place to get access to it. Your passwords and pin codes are important.

Bank Details –

If you haven’t set your account(s) as Payable on Death to a beneficiary, the legal process behind it can become difficult. Your account can ultimately be drained through paying debts and fees, preventing any family from ever seeing or using it. It’s wise to keep them informed, or leave information for them to access those accounts, should anything happen.

List of monthly debit orders –

Nobody wants to be surprised when dealing with monthly notifications of gym memberships, purchases or anything else that might be charged from your account(s) if you should pass away or become disabled. This can be a painful reminder or even a hassle – so keep a list and avoid surprises.

List of insurance, investments and funds –

if you’ve made any investments or have any funds or insurance that might be helpful when dealing with the handling of your estate, then keep a list of them that can be kept together with all of your other important information.

Copies of insurance and funeral policies –

The same applies to the legal procedures taken to deal with your estate. It’s important to help prove what insurance policies you’ve taken out. It will also help with arranging and paying out your funeral costs. Remember to leave a contact name and number behind of the person that handles everything.

Lease Agreement –

To determine the terms of your lease. Landlords are able to keep charging rental fees depending on the length and terms that you’ve signed, so keeping that agreement with the rest of your documents can be helpful for your family to either pay it off or to take legal action.

Proof of Medical Aid and Gap Cover –

In the case that you become disabled or deal with a crippling event, then both medical aid and gap cover documents are absolutely essential. If it’s a case of death, then providing proof of those policies will help your family with making a claim from the medical aid.

Title Deeds for Properties –

Should you pass away, then having your title deeds collected and kept in an accessible place will be helpful to your family when you leave them property(ies). It also helps to avoid transfer duty costs if you’ve left your property to an heir.

Partnership Agreements –

If you die without a legal agreement between your partners to keep operating, then the business will usually cease to operate and dissolve. Unless you’ve stated that your partner(s) must maintain operation of the company, then you forfeit the hard work that you would’ve put into the business for your family.

Although it might be scary (or crappy) to think about, it’s your responsibility to ensure that all of the important documentation is readily accessible, should something happen.

Get it all sorted. Make the effort. Your family and partners deserve it.

It took me quite some time to compile this important list and I’d appreciate it if you took the time to gather and accumulate all of those documents.

If you need any advice regarding the list, running your business or making good decisions – then give me a call, send me an email, drop a message [before you drop dead]:

+2783 253 3339

brent@spillly.com

Sep 27
Love0

Reducing The Load Of Your Slowest Hikers

By Business Coaching Consulting psychology Strategy No Comments

When building out your business, there’s always a clear, set mission to achieve significant growth and success – not only for yourself, but also the people that you take on that journey with you.

Similar to the task of hiking together with a team, you, as a leader and guide, must find a process that gets everyone to the top of the mountain in the most effective way, possible.

But what often tends to happen is that you and your team might be slowed down due to the hikers in the back; those that might be struggling to endure the arduous journey with you. And this usually means having to patiently wait for them to catch up to the rest of the team before you’re able to continue and push towards achieving your goal.

While culling those hikers might seem like an easy option, it’s often better to help them by offering to lighten their load, teach them a trick or two, or motivate them to succeed.

A Chain Is Only As Strong As Its Weakest Link 

Indeed, you may find it quite challenging to embark on that journey to reach the top and you will undoubtedly face certain obstacles, but through a healthy dose of desire and determination, you’re well aware of the effort and willpower it will take to get there.

Confronted by ravines, narrow ledges and the many areas of discomfort on the path to success, it’s your job to motivate and empower your team – so that they too help ease the process of getting to the top.

And although each of the hikers within your team have their own backpacks or loads to carry with them, there’s almost always a person (or select group of people) that struggle to keep up and endure the load. Contained in those backpacks are things like skills, personal issues, beliefs, etc. which come to affect the load that needs to be carried on the way up.

Some people handle their load better than others. While some need help to manage or compartmentalise their load in a more effective way.

The issue with those members that lag behind is that it restricts progress and productivity; it slows the entire team down and prevents you from reaching your goal in the fastest way, possible.

It certainly seems like a great option to just go ahead and send those slow, struggling hikers back home, freeing up the energy to keep pushing forward – however, a better approach would be to convince your strongest, fastest hikers to train, inspire and assist the weaker ones, instead.

To do this, you need to ask your strongest hikers to help carry or re-arrange the backpacks of those that are in need of assistance. By removing or re-organising their backpacks, you reduce work-load, provide them with more opportunity to be trained and developed, and create a sense of camaraderie amongst the team. This results in a better, faster and more effective unit.

Using Theory Of Constraints To Reduce The Load 

One of the most effective ways to view and come up with solutions to this situation is through the Theory of Constraints.

Dr. Eliyahu Goldratt, a physicist turned business consultant, came up with this model back in 1984 in his book The Goal, which teaches readers that every organisation, at any time, is limited in its ability to achieve its objective due to a single constraint.

Goldratt defined it as, “A thinking process that enables people to invent simple solutions to complex problems.”

This method is ultimately about focusing on different areas that need attention; attending to the weakest link on that chain and fixing the problem in order to increase productivity and prevent it from getting worse.

By using the Theory of Constraints, it’s important to find the answers to three big questions: What to change?; What to change it to?; and how to change it?

Answering these questions will ultimately provide direction and assist you in coming up with a plan to solve the problems that need to be dealt with.

In order to identify and solve the constraints that need your attention, a five-step method is usually recommended. This will help you find a starting point and give you a process that works effectively when tackling the situation.

The five steps are as follows:

Identify the limiting constraint. In the case of our team of hikers, take a close look at those employees that struggle to keep up with the rest of the team and that slow everyone else down. Figure out what it is that they need help with, whether it’s a reduced workload, more training, counselling, or positive reinforcement – you need to focus on finding the reason why they are struggling in the first place.

Exploit the constraint using existing resources before any investment. If you’re able to identify  the constraint, come up with solutions that don’t require extra money and attempt to remedy the situation through resources that you already have available. If the slow hiker has issues with work that they are struggling to understand, then request one of your stronger hikers to train them, give practical advice or explain how to handle it better.

Subordinate all associated activities to the constraint. Although it might seem a bit counter-intuitive, it’s important to consider that every working part of the system might be supporting and giving fuel to an existing problem. By slowing the whole team down, you’re able to identify any hidden issues or problems that might be affecting the overall performance of your unit.

Elevate the constraint by throwing money at it. Once you’ve identified and worked on the issue at hand, it’s important to invest money or resources in it – so that you’re able to increase its durability and prevent it from causing any further damage down the line. If you buy better backpacks with more compartments and space to get you through the hike, i.e. spending money on training and education for those who are struggling – you create a barrier for those same issues surfacing in future.

Repeat the process to identify and solve the next constraint you could face. Go back and identify new constraints to be worked on and improve the ones that you’ve already solved, while keeping the cycle going. Ensure that everybody in the team is on the same frequency and keep a sharp eye on any new constraints that need attention.

This method has many benefits for not only your team, but the company as a whole. It helps you find and solve the reasons behind a lack of progress within the organisation, it provides a structure for continuous improvement, and allows you to approach constraints or issues without the need for investment or spending extra money on unnecessary band-aids.

Reducing or optimising the load of your weakest hikers will bring about a much faster and enjoyable journey.

Have the talk with your fastest and most efficient hikers. Butter them up, paint them as heroes and make them aware of how great they are and that they have the power to make a valuable and significant difference in the operation of your business, as well as those that need help.

If you’re starting to feel lonely in the front; nobody to bounce your ideas off of, tempted to try new routes or paths, or struggling to find the motivation to keep pushing – then I can help you with that.

Being a successful business coach means that I look forward to every opportunity to make a positive and remarkable difference in the lives of the entrepreneurs that I work with.

I’m like Gandalf in the Lord of the Rings. I will enhance your journey while offering you the perfect advice, guidance and respect that you need as a business owner. I will share my network, strategies and formulae for success with you. I will help you find what you’re looking for.

Do it. Make the call, send the message. Reap the rewards.

+2783 253 3339

brent@spillly.com

Aug 17
Love0

Growth Is More Than Just Profit!

By Business Coaching Consulting Leadership Motivation No Comments

Morihei Ueshiba, founder of the martial art Aikido, once said: “Life is growth. If we stop growing, technically and spiritually, we are as good as dead.”

And I couldn’t agree more.

Growth is fundamental to our existence as human beings and even more so as business owners. It takes discipline, focus and ambition to initiate growth in not one, but all of the many facets in our lives.

Seeking challenges and development on a personal level strengthens us in many ways; it moulds our understanding and sharpens our intellect, it builds our intuitions and perspectives, it breaks down barriers and gives way to opportunities, and it brightens our pathway to an often opaque future.

While business owners are hard-wired and driven to achieve growth in profits and revenues, seeking growth in other crucial areas of business and life is just as important.

So what other areas should every one of us be nurturing and focusing on?

Let’s take a look.

Five Important Areas That Should Always Be Growing 

As a business coach, I engage with many different clients that have a staunch focus on growing their businesses mostly towards a better top-line and profits but find that not enough interest is placed on personal growth, staff growth, networking and credibility, and the processes that drive success within their business.

Businesses should inherently be on a journey of growth, while also providing value for their shareholders. It’s important for many different areas to constantly be in a state of growth and development for not only the staff, the clients and the entrepreneur, but the owners, too.

It’s so important for every business owner to constantly be challenging him/herself, building on new and existing areas that are always in need of progress.

So what areas should we work on growing and improving?

Personal Growth:

The number one investment that anybody can make is in themselves. Putting in the energy, time and effort to enhance and develop yourself is one of the greatest things that you can do for your business and for your life.

We all determine what personal growth means for us on an individual level and what I might deem important for my growth might differ from the next person.

Whether it’s spending money on education, learning and exploring new skills, reading more to better your understanding, or spending time with interesting people that you don’t generally interact with – each and every one of us should constantly be striving for personal progress.

There are different areas of personal growth that you should always look at improving and enhancing, such as expanding your network and engaging with other entrepreneurs, or specialists in different fields to build beneficial relationships; taking courses or lessons to advance your existing skill set and any other interests that you might have; and working on your lifestyle to either spend time discovering or enjoying your passions and interests, as well as taking care of your health in terms of diet and exercise.

One of the absolute best ways to develop yourself and your business is by having a business coach, so keep that in mind when you’re looking for a place to start.

Your People: 

Taking the time to grow and develop the people that work for, and with, you is just as important. Your employees are absolutely critical to the success of your business and investing in them shouldn’t be considered an expense.

If your staff are constantly growing in terms of their skills, network and knowledge, then your business will become far more efficient and productive.Giving promotions or raises isn’t necessarily enough to motivate them to get the most out of their roles, but educating, training and exposing them to new areas of growth will go much further in creating a far more enjoyable and powerful work culture.

It’s important to realise that supervisors, managers and other staff members also need to develop their approach to leadership to get the absolute best out of their team, as well as themselves. Take good care of your people and they will do the same for you.

Processes and Policies:

Having outdated processes and policies can slow down your business and the functionality of your staff and your returns. Seeking new ways to improve your processes through the use of technology and other tested strategies will enhance productivity, employee and customer satisfaction, as well as reduce risks.

Tasks and processes that often require a lot of repetition waste plenty of time and effort. If certain processes can be automated or approached more effectively, then looking into modern methods should be prioritised to get the best out of your staff.

The same applies to the satisfaction levels of your employees and your client-base; if employees are able to focus on more important processes within your business, then they can produce much better results for your company and for clients.

By avoiding outdated technology and processes, you also avoid far more risk. Human error, fraud and slow information transfer can be harmful to your business in terms of both security and revenue. Growth in this area should be a high priority for you, as it will make operations far safer and smoother for everybody involved.

Clients:

Spending the time to grow your relationships and interactions with clients is highly beneficial for any business.

The experience that your clients have with you will either make or break your brand identity. Evaluating which of them you love and which of them you hate can help tremendously in your approach to growing the relationships that you have with them.

Loads of research and literature exists to prove just how important customer/client satisfaction is for any business and ensuring that you constantly strengthen your interactions with them is absolutely essential.

Remember that existing clients are more likely to spend more with you and that word of mouth is a powerful marketing tool in this day and age, so treating them in remarkable and unforgettable ways will go far in the development and growth of your business.

Exposure and Credibility:

Making the effort to develop your credibility and the perspective that outsiders have of you and your business is a very important facet of being an entrepreneur.

If people are to see you as unreliable, inconsistent, or unremarkable, then you’re sure to have problems. The first thing that comes to anyone’s mind when talking about your business can ultimately shape its success.

You need to constantly be building your credibility and exposing yourself to different audiences in strategic and impressionable ways. Leaving a good and lasting impression on anybody that you interact with, whether staff, clients or strangers, will strengthen your position in their minds and improve the perspective people have of you and your brand.

Growth in this area can come in the form of achievements that your business has made, through positive and impressive testimonials, as well as your ability to be authentic, reliable and consistent.

Seeking growth in areas other than just profit will make you a much better business owner at the end of the day.

So make sure that you focus on these different aspects of your business and embrace the benefits that come with the nourishment and care that you provide to your clients, staff, processes and yourself.

My role as a business coach is to give you all of the necessary tools, supplements and nutrients that are essential for your growth as a business owner. Let me be the person to bring about those improvements in your business, as well as your life and I’ll see to it that you attract success in everything that you do.

When you’re ready to bloom, then be sure to get in touch:

+2783 253 3339

brent@spillly.com

 

 

 

Jun 09
Love0

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

May 24
Love0

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
Love0

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

 

 

May 05
Love0

Limber Up For The Double Niche

By Coaching Consulting Marketing Uncategorised No Comments

I recently had a client tell me about a great idea of theirs, one that would have them come across as more remarkable, standing out from the rest of the crowd and I naturally recognised it as one of the concepts that I often preach to business owners:

A little something, called the Double Niche.

Upon recognising the tactic, he asked me “what is that? Some kind of kinky bedroom move?”

No, not quite. But, I mean it could be.

The double niche is a great way to take your area of expertise, find a niche market and become the best-known person to provide a valuable service surrounding that.

Not Just A Lawyer, But The Best Gay Marriage Lawyer Around

 

In making use of the double niche, you need to know what you do best and find a niche audience to cater to in providing that product or service.

When explaining it to my clients, I often use the example of a lawyer that primarily focuses on gay marriages; by taking on the added label of ‘gay marriage’, you become more than just a lawyer or a lawyer that practises in divorce, but seen as a professional in that very particular field.

When someone hits the search bar with “looking for a gay marriage lawyer” then you should be all over the first page of Google and hard to get rid of – almost just like a glitter-bomb (all over the place and impossible to clean-up).

By adding a niche area of the market that you provide your services for, you’re creating an impression of more knowledge and expertise in that specific field – keeping you on the iron throne and at the forefront of anybody that is in need of your unique offering.

Sure, your USP is very important in differentiating you, but I find that it’s not always enough and that you should find ways to add a niche area of expertise that you’re comfortable in.

Another example might include being a graphics designer for pharmaceuticals, where you’re given the advantage of the network that it provides and you’re able to tap into a demographic that caters to that niche market.

You should be the first to pop-up on Google when people search for the service that you provide, especially when combined with a particular niche-area.

People recognise, or become aware of your ability to provide a service in that particular area or field and it narrows their options down to only a few choices that they are left with. If you execute the double-niche well, then you should be that choice.

Become World-Class Through Double-Niching

 In making effective use of the double-niche strategy, you polarize your audience and appeal to a small segment of a particular market – this will make you the go-to person for that service.

As a business coach, clients ask, “why not just appeal to everybody?”

I often explain that with the high levels of saturation and homogeneity in so many areas of expertise, by trying to appeal to everyone, you often end up appealing to nobody.

You can branch out to and be recognised by a world-class selection of clients in using this technique well and ultimately build a strong presence in those niche markets. People prefer to narrow down all of the options to make life easier.

You also offer a very unique solution that nobody else is offering; becoming remarkable and sticky in that field, as well as the perfect choice in a world full of choices.

My Double-Niche Project, BBBRAP!

 I’ve made good use of the double-niche technique in my own unique and remarkable way. With all of the tools at my disposal, I was able to find a perfect fit for both me and a large portion of my clients. 

Coming up with it was quite easy, as I took something I’m great at (business coaching) and blended it together with something that I love to do (ride motorcycles); so I came up with my Business, Bikers and Breakfast Radical Accountability Programme (BBBRAP).

In going after entrepreneurs and business owners, of any size, that also owned a motorbike and were on the lookout for coaching services, I came up with a fun solution that people really enjoyed being a part of.

Rather than just focusing on entrepreneurs, or just motorcyclists, I opted for both niches and took on a small and dedicated market. It was a unique solution and nobody else was doing it, so by default, it became quite popular.

As Seth Godin said, “in your career, even more than for a brand, being safe is risky. The path to lifetime job security is to be remarkable.”

Double-niching will make you stand out and be exactly that: remarkable.

Target the people that are searching for whole sentences in the search bar, “biker entrepreneur looking for a coach,” and be the first option that shows up on the results page – like scattered glitter all over that first page, so people know who the best choice is.

A good friend of mine Richard Mulholland talks about how “your USP (unique selling point) is actually your UPS (unique problem you’re solving).”

There’s always a problem that needs solving and that unique solution can be discovered quite easily with the use of finding your very own double-niche.

Figure out your double-niche with me:

Let’s have a meeting, a cup of joe, or a chat sometime about your niches and interests.

What direction(s) can you take, what do you both love doing and are great at doing?

I’ll be around to help you figure that out and you don’t even a need a motorcycle!

+2783 253 3339

brent@spillly.com