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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!]

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.

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.

6 Reasons Why You NEED A Business Coach TODAY

By Business Coaching Entrepreneur Motivation No Comments

It certainly isn’t easy to start a business, run it successfully and become the ideal entrepreneur that you know you’re capable of becoming. Our ever-changing world can be unpredictable, often demanding time, effort and energy – which all need proper allocation to ensure that you remain efficient in every aspect of running your business.

One thing that is certain – an unavoidable truth that every business owner is aware of – is that improvements can be made in your business, social and personal life with the help of a business coach. No bullshit.

And you know that a business coach will make all the difference in the world if:

  1. You Feel Like You Could Develop And Grow As A Leader and are in need of powerful tools and techniques to improve your relations and ability to motivate staff, as well as yourself.

I’ve been there before and it isn’t always easy to grow without proper nourishment. Being that it is lonely at the top, you find yourself in a situation where you don’t know who to look to for new ways to grow and evolve. It can be hard to juggle the many things that you find yourself wrapped up in, so finding new techniques and methods to turn you into a better leader is often the last thing on your mind.

That’s why I come prepared with modern, relatable and easily digestible advice, bringing speed and nourishment to your development. I have the experience, tools, knowledge and techniques to bring you closer to your staff and to that status of an impactful and proud leader.

  1. You Need Someone To Push You And Make You More Accountable as you would feel more driven and find comfort in having somebody around to keep you on the right track.

It’s not uncommon to find that having a friend or partner around with the same interests helps to extract the drive to accomplish more. It’s sometimes hard to be in a position where you feel stagnant and have the final say. I have people that I do running with that push me to try harder and create a sense of accountability if I dare to be lazy or feel like giving up.

You’re certainly not alone if that’s how you prefer to operate. Yes, it can be difficult to find somebody that truly understands your position, that you know you can trust and relate to, but there is a silver-lining. As someone that knows the importance of an exemplar, I can do exactly that for you, while pushing you to excel and take responsibility for your actions or inaction.

  1. The Struggle Of Work-Life Balance Is Real and you’re struggling to find that perfect ratio in order to keep you from tearing at the seams.

Time acts as a commodity when running a business and it can be difficult to figure out when to take a break or to keep pushing. I’ve made the mistake of pushing myself too hard when I was a business owner, literally to the extent of causing harm to my mental well-being.

Therapy helped with that and I now know how valuable creating the right balance is when dealing with that stress. I can relate in many ways. Don’t wear yourself thin and let someone like me help you make sense of the pressure that you feel yourself dealing with. I’ll help you understand your goals and ambitions, offering a course of action to help you achieve them.

  1. You Have Plenty Of Ideas And Great Vision, but need an objective soundboard to give you critical feedback and constructive criticism, because when you’re all the way at the top, it becomes harder to find people without ulterior motives to bounce ideas off of.

Whether it’s an employee that you think you can trust, or even a family member, the sad truth is that most people act in their own best interest. You’re in a position of power and people are aware of that, so they tend to stroke your ego, instead of being authentic.

Having to deal with sycophants can be a real pain in the ass. I know it all too well. That’s why I prefer to be blunt and avoid sugar-coating my feedback to clients. At the end of the day, we all deserve transparency and the truth. It can be refreshing to receive clarity instead of an arse kissing at every corner.

  1. It’s Hard To Determine What’s Really Important in your daily activities, what you need to focus on and what to do next.

Keeping your finger on the pulse at all times can prove to be difficult. As a business owner, it’s hard to rely on your staff to keep all of the different verticals in check, so you need to be aware of and involved in everything that goes on at all times.

Finding order within that chaos can be challenging, especially when you’ve taken on such a tremendous responsibility. That’s where I come in. I’m fully aware of every aspect of your business that needs attention, so I create and implement processes in an organised and uncomplicated manner that gives you the relief that you’ve been craving.

  1. Your Motivation Is Starting To Dwindle and you need a catalyst to give you more clarity, joy and hope in what you do.

As time progresses, you find yourself with less and less motivation, enjoyment and interest in what you do. You might not know what the next step to take is and require a change of pace or direction to keep you hooked. I know that feeling all too well. It took me years of doing the same routine until I snapped and my motivation shattered.

Finding new and interesting ways to make things exciting is something that I have also struggled with in the past and it’s something that I’m always helping clients deal with. Sometimes a refreshing new perspective, strategy or change in pace is needed and I can bring you that energy and relief.

By refreshing your perspective and re-igniting your passion, I bring new perspectives and approaches to catalyse your personal development. You’ll see and feel business through a shiny, new lens.

Bonus Reason #7:

+ Your Company Lacks A Differentiating Factor that will advance your growth and separate you from the pack.

Everything that you do has the chance of reaching a point where it becomes stale and sometimes it can feel like there’s an expiration date looming in the near distance. You find that everything is coming to a stage of mediocrity and your business feels boring and needs a certain something to help it stand out from the competition.

It may seem like your business is similar to milk at this stage; it was delicious, full of promise and packed with nutrients, but all milk spoils and begins to stink after a while. And I can change that. I’m not saying that I’m Jesus or anything, but I can certainly change your business from bitter milk to a fine wine; even tastier, far more beneficial, sought after and on a path of maturation, rather than expiration.

If you seek moments of greatness, sparks of excitement and enthusiasm, a fresh perspective, and more enjoyment around running your business – then I think it’s time…

… It’s time to get off your ass and mount that stallion; take charge and embrace the speed, comfort and strength that you know you deserve.

I’m certain that you could do with some real coaching, from a real business coach that knows how to keep it real. Make sure you get in touch – you know I’m what you need:

+2783 253 3339

brent@spillly.com

 

 

 

 

 

 

 

Oh! How you love to hate.

By Business Coaching Sales Strategy No Comments

It’s important for every business owner to review and evaluate clients on a fairly regular basis. Every entrepreneur needs to figure out whether a customer/client is either of use to them or should go through the dreaded culling process.

So it’s vital that you ask these two important questions: Do they add value to your company? Or do they annoy the living shit out of you?

In figuring out which clients to retain and which ones to scrap, I recommend using the love-hate quadrant to guide you in your decision-making process.

Hate-Love-Love-Hate 

It can be difficult to determine which filters to use when deciding who you should keep and who you should let go of.

Besides the obvious ones, like whether particular clients bring in small or big revenue, growth opportunities, and profitability – you need to be aware that certain filters usually lead to an emotional feeling between you and the customer.

Which can often result in you hating them.

So instead of relying on your emotions to figure out whether or not they should be kept or dumped, I recommend using a simple love-hate matrix to help you decide which route to take.

There are four different categories that you can place your clients into that will help motivate your decision:

Love-Love Quadrant – will contain your list of customers/clients that you love and appreciate the most. They’re the clients that you want to keep, the clients that you love and that love you in return. They pay well, the work that you do for them is always appreciated, and you enjoy the process and relationship that you’ve established with them. They’re also a great cultural fit and refer you to new clients all the time. So you need to give this category of clients 80% of your time, focus and energy – making sure that you look after them and their best interests.

Love-Hate Quadrant – consists of clients that love you, but you absolutely hate them. You usually run into issues when dealing with them, as they can be a nuisance and overly demanding. The money that they bring in isn’t too great, especially considering the work and effort that you have to put in. But, because they love you and the service/product that you provide for them, it’s wise to try and work them into the love-love quadrant. Make your staff aware of the issues that you have with them and that they have with you, then come up with solutions or offers that can extract more money and better opportunities from them.

Hate-Love Quadrant – this category is for the clients that you love, but they unfortunately hate you. While they’re constantly down your throat with complaints and criticisms, they still bring in a nice amount of money to your business. They aren’t always happy with the work that you provide for them and they make sure that you’re aware of that. While it seems like culling them would be a better option, you should try and address the issues that they have, attempt to satisfy their demands and try to work them into the love-love quadrant.

Hate-Hate Quadrant – these are the clients that you hate and they hate you. It’s mutual. They don’t have much to offer, especially in terms of profits and they consistently give you a hard time. When you despise a client so much that you cringe at the idea of doing anything for them, then it’s probably time to wipe them out. What you should do is work on ways to get rid of them – so that they no longer bring you stress. One of the easiest ways to do this is to just drastically increase your pricing or mention that you will not be renewing their contract.

This matrix is a great tool to use during annual strategy sessions.

It will help you determine and categorise which clients help you and your business, while either working on creating a better experience for those that you still want, or implementing a plan to get rid of those that you don’t.

It’s a simple, easy-to-use process to apply to your business strategy.

You’re welcome.

I would absolutely love to throw you into the love-love quadrant and list you as one of my top clients. So do us both a favour and get in touch with me.

It will change your business for the better. It will make you the leader that you’ve always wanted to be. It will give you clarity and vision. It will also make my day.

Squeeze me in if you don’t have the time, make the effort to grab my attention. I will be the best choice you’ve ever made:

 

+2783 253 3339

brent@spillly.com

 

 

 

 

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

Why Having A Board Is Important For Your Small Business

By Business Management Leadership Strategy No Comments

Having an advisory board isn’t only for big businesses. And although it might seem like a waste of time, money and energy to have one – any entrepreneur and their business can benefit from the many advantages that come with them.

Ultimately, the purpose behind having a board is to gather experienced and compatible individuals that offer you valuable advice, guidance and insight with the intention to develop and enhance your organisation.

They ideally consist of a team of educated and proficient people that share a common goal:

To help your business flourish.

That’s why – no matter how small your business may be – you need a board of advisors.

“I’m Capable Of Creating A Business, So Why Would I Need A Board?” 

By understanding that boards only exist to help with the success of your company and not to trample on your goals and ambitions, you’ll come to learn that the advantages of having one will always outweigh any of the perceived disadvantages.

As a business coach, I usually deal with companies that are run by a single entrepreneur (often consisting of a 5-50 man operation) and I’m always shocked to find that a large portion of my clients perceive boards as counter-productive, with a firm belief that having one will slow the company down.

This couldn’t be further from the truth.

Boards usually consist of hand-picked, like-minded individuals that come together to discuss, plan and implement strategies and processes to improve both you and your business. Their purpose is to set certain goals and outcomes that the company needs to achieve, while looking at the different approaches and actions that need to be taken in order to achieve those goals.

Many business owners run into a variety of challenges that come with operating their business: a lack of growth; finding new direction; coming up with new ideas; being lonely at the top; detecting problems and red flags; a loss of vision and creativity; and even being an effective leader.

These problems, along with many others, can be remedied by setting up an advisory board in your company. An advisory board usually consists of experienced and professional individuals that are often paid to provide the guidance, feedback and network that’s needed to nudge a business in the right direction.

These experienced individuals usually include: existing entrepreneurs, lawyers, accountants, a mentor/coach (like me), and even an existing or potential customer/client.

By forming a team that consists of people with these backgrounds, you’re kept accountable and focused on the steps that need to be taken in order to achieve greater success within the company. It also acts as a much needed eye-opener, showing you that your resources and experiences are both limited and limiting.

When I recommend setting up a board to some of my clients, they often argue that they’re far too small to have a board. But I push back and remind them that no business is too small and that with the right mix of people, they’re sure to find the exponential growth that they seek.

Being a business coach means that I often sit on various boards where I provide advice, feedback and guidance for entrepreneurs. I help them identify the direction that they want to take their business in, making sure that they have a clear, straightforward plan and are sticking to that plan. I also ensure that they take things seriously and that they’re held accountable for their actions or inaction.

The benefits of having a board are plenty. You’re given feedback and transparency; support and accountability; honesty and a sense of comfort; and access to resources and new networks.

Another huge advantage of having experienced individuals on your board is that you’re able to learn from their past mistakes.

While you might see an opportunity or have an idea that seems perfect – they might have gone down similar rabbit-holes or made the mistake of chasing shiny pennies. They’re able to prevent you from dealing with any embarrassment or failure.

Together with a powerful, hand-picked board, you’re able to avoid risks that you would’ve taken on your own; you’re able to create improvements around policies, processes and overall workflow; you have the opportunity to enhance your identity through personal growth and exposure. There are certainly far more benefits to having a board, especially in comparison to doing things on your own.

What is there to think about? Get a board of advisors and be advised. Take advantage of the networking and resources that they make available to you. You’ll be pleasantly surprised.

Whether or not you’re looking at setting up an advisory board for your business – I can be of assistance to you.

Most of the amazing benefits that come with having a board can be provided by yours truly.

And if I’m your business coach, you’re immediately given access to a massive network, as well as peace of mind where strategy, advice and accountability are concerned.

With my experience as a business owner, I can also steer you in the right direction – helping you avoid the mistakes that many entrepreneurs make, while keeping you motivated and excited about the future of your company.

Take action. Throw me into your board of advisors, or keep me as your secret weapon:

+2783 253 3339

brent@spillly.com

Driving Your Business To Success In A Tesla (Or V8)

By Business Coaching Entrepreneur Motivation No Comments

Putting your foot down hard on the accelerator and going full steam ahead when running your business is quite a common theme amongst entrepreneurs. Most of the time, emphasis is placed on driving the business with your pedal to the metal – barely ever slowing down or stopping to smell the roses.

Obviously, it’s great to be that invested, inspired and driven to become successful and achieve extraordinary things in the quickest way possible – but going full speed isn’t always beneficial or effective.

Just like a race-car driver, you need to hit the brakes at times to comfortably make sharp turns around those difficult bends – and by counting on speed alone, you might just cause an accident.

I believe that slowing down, or sometimes coming to a complete halt, will do you and your business great justice. So loosen up your seatbelt and prepare to slow things down a bit.

Think About Your Business – Don’t Just Push It 

In order for you to get to break-neck speeds and drive your business to achieve success in the fastest possible time, you end up pushing extremely hard; making as many sales as possible, spending resources and money on getting better results, and ensuring that you keep your eye on the prize – never stopping for anything.

Being in the driver’s seat usually means that you want a bigger, faster and more powerful car. You want to be better than the rest and reach your destination before anyone else does.

But the problem with that is that you end up spending very little time looking at the best ways to win; rather focusing on getting to the finish line through sheer speed alone.

So what pace should you be going at to achieve better success in your business? What is the ideal vehicle to choose on your journey?

Well, you could probably choose a Prius and end up last, knowing that you’ve made a great impact on the environment; or you could pick something with a V8 engine, where you get powerful acceleration, reach amazing speeds and take yourself to victory faster than anyone else. Both are great choices, depending on your motives, but I recommend that business owners pick a Tesla.

Why not just pick the V8, though?

While it certainly seems like a great choice to choose the V8, the time it takes to fuel-up isn’t exactly good for your business. The engine is much bigger, so the fuel consumption is greater – which also means that you need to stop quite regularly before you get back on track and keep moving. But stopping isn’t the issue; the time spent on your stops, is.

When you stop to fill your petrol tank, those moments give you time to let the route sink in – providing you with clarity, innovation and thought. With the rush that you’re in to make it to the end, you barely have enough time to think about using better techniques, tactics and strategies – or to find more fulfilling and fruitful paths to success.

Having a fast car with a high speed is great and arriving at your destination faster than anyone else gives you a wonderful feeling, but it’s not always the most strategic approach to your business (nor is it economically or environmentally friendly).

And over time, with maturity and growth, the realisation that you no longer need such a powerful, fuel-hungry machine begins to sink in.

It’s only then that you start to understand the risks that come with being too fast and your desire to be number one. You begin to see the importance of hitting the brakes from time to time, slowing down to appreciate the views and putting some of your brightest ideas to the test.

If you’ve already chosen the V8, I recommend a trade-in. It’s time to swop out that roaring beast for a sexier, more modern and sought-after car: A Tesla.

But, why a Tesla? Because they are far more economical, safe for the environment, desirable and just as fast as a V8 is. You’re given the opportunity to speed up when you want to while enjoying the luxury that it offers you – you also make a much better impact on the world around you.

Hold on. Don’t you have to wait a lot longer to actually recharge the car before you can get back on the road? Precisely. As a business owner, that’s exactly what you want; time is extremely important and rushing into things can be dangerous, so taking much longer breaks during your journey will be far more rewarding for your business.

You’re unable to properly think about your business if the only thing that’s on your mind is winning. Thinking about your business means spending more time on strategies, developing your working environment, and giving more attention to people, policies and processes. These are the things that far too many business owners ignore and don’t give enough attention to on a day-to-day basis.

Slowing down to gather your thoughts, work on areas that need attention, and develop your abilities doesn’t make you a loser. In fact, it makes you a smarter, enjoyable and more remarkable driver that people can appreciate and look up to. It makes you a winner.

There’s absolutely no need to rush. The journey that you take in running a business is a beautiful one. Growing yourself, enhancing the lives of others, discovering new strategies, techniques and tactics to make you the best leader that you can be will be far more rewarding than sacrificing everything just to make it to the finish line.

Think about using a Tesla in your approach to business and scrap the idea of using a V8. You can still speed up whenever you feel the need, but there’s far more time for you to think about the important things and grow.

Clear up your passenger seat and make some room for me.

I can act as your GPS, giving you the right direction, guidance and information on all of the greatest routes and pit stops to visit along the way.

It’s about the experience, the journey, and not always about the end. I’ll send you my location via Whatsapp or Email you directions to come pick me up:

+2783 253 3339

brent@spillly.com

 

6 Great Models To Attract Recurring Revenues

By Business Management Sales Strategy No Comments

Too many entrepreneurs think long and hard about finding the simplest ways to generate money through their product or service. But what they often fail to realise is that the way in which they package their solution will ultimately determine how sticky, profitable and attractive their product/service is to the customer.

And one of the smartest ways to package your product more effectively is through the pricing and revenue model that you choose to offer.

That being said, here are a few of the top revenue models that could transform your business into a gold mine.

Why Your Choice of Revenue Models Is So Important 

A revenue model is the approach your business takes to earn revenues. After establishing your value proposition and the set price(s) of your product or service, the next step is to figure out how your client or customer is going to pay for it.

That’s why having a good revenue model ensures that your business is able to make long-term projections based on current and future profit potential. This will aid you in extracting the best possible returns for your company, while retaining clients through the use of subscriptions, contracts and the sunk cost fallacy.

Sunk cost what?

The sunk cost fallacy (or sunk cost bias) refers to the justification we give ourselves when buying an expensive dinner, finishing a movie that we don’t necessarily enjoy, or remaining a loyal customer to a brand that we’ve already been with for years (even if there are better options out there).

Putting money, energy or time into something means that we inherently develop a bias towards it and are willing to ignore any pitfalls or failures that could motivate us to change our minds.

While it might sometimes be unfortunate for us as consumers, clients or customers, it certainly works in the favour of any business owner. Conversion rates can be increased, contractual obligation can maintain profits, upselling can be amplified, and client retention can be improved by simply being aware of this cognitive bias.

So choosing the ideal revenue model for your company will enable more consistent profits and a far more loyal customer base.

And the great part is that there are a number of promising options to choose from.

As a business coach that cares so much about your success, I’ve taken the time to sift through some of the best models out there and rank them from the least beneficial to the most.

Let’s check them out:

The Top 6 Revenue Models

1. Consumables:

These are your typical consumables (whether a product or service) that generally get purchased once, twice or three times a month or even every few months.

Think of products like coffee, milk and bread, or services like electricity, gardening or cleaning; these ‘consumables’ work well once you’ve established customer loyalty, which will ensure that you’re bringing in a recurring revenue.

2. Sunk-Money Consumables:

By making use of the sunk cost fallacy, this model is based on offering a product or service that requires an additional item or clause in order for that product or service to  operate or function effectively.

Basically, you offer a base product/service that’s quite affordable (a Gillette razor handle, gaming console, or a dating site) and then provide additional items or functions that the base product needs for it to be of any use (Gillette razor blades, games, or in-app currency for extra purchases).

With this type of model, you ensure recurring revenue based on customers’ reluctance to give up on something that they’ve already invested in. You wouldn’t buy that gaming console without feeling the need to buy games for it; or sign-up for a dating service and be limited to one message per day, when you can pay to receive more messages.

3. Renewable Subscriptions:

One of the most common and effective recurring revenue models would be through the use of renewable subscriptions. By incurring a monthly fee (a subscription), you ensure that the client or customer is bringing in revenue on a monthly basis and has the opportunity to renew their subscription at the end of a certain period.

This model is usually a win-win, as the customer perceivably pays less to own a product or use a service, while the business owner has a more stable and predictable source of revenues (especially when compared to consumables).

A great example could be a cell phone contract or streaming platform like Netflix.

4. Sunk-Money Renewable Subscriptions:

This model has the customer invest in a base product or service that has additional premium features that are offered on a subscription basis.

By taking renewable subscriptions and adding an element of sunk-costing to it, you guarantee more recurring revenue options. When you purchase a device (e.g. an Apple TV) or a service platform (e.g. a Bloomberg terminal), you’ve already sunk money into it, so you’re more likely to purchase exclusive additions for it, such as an Apple One subscription for the TV or a business publication subscription for the Bloomberg terminal.

It takes advantage of the sunk-cost bias and blends it with renewable subscriptions.

5. Automatic-Renewal Subscriptions:

By taking renewals into your own hands and making the process automatic, you allow for a much better recurring revenue.

Instead of letting the customer renew their subscription after a period of time (say, a year), you automatically renew it until they choose to end it. This way, customers are more likely to stay, as they don’t bother looking at competitive prices and you make the renewal process easier for them.

Think about gym memberships or insurance firms that keep renewing your subscription until you’ve made the decision to terminate the agreement.

6. Contracts:

Long-term contracts are highly beneficial for maintaining a recurring revenue that can’t be challenged or disputed. It ensures an ethical agreement between both parties that a certain amount will be paid within a particular period of time in exchange for goods or services.

This model is a great choice, especially if you’re able to get customers to come on board for a long period of time. If you’re planning to sell your business, then ensuring that a survival clause is present will help keep customers from leaving after a change of ownership takes place.

*Bonus Model: “Rundles” 

This new approach coined by NYU professor, Scott Galloway, takes a recurring revenue model like renewable subscriptions and blends it together with bundling.

Bundling basically entails putting multiple services or products together and selling them at a ‘better price’. This extends to products/services that might not be very popular and putting them together with more favourable ones, then selling them as a package.

With “rundling”, you take those two concepts and form an approach that has seen huge returns. I’m talking billions of dollars in revenues and millions of customers migrating to platforms that offer recurring revenue bundles or “rundles”.

A great example of this is the way in which Apple has offered services like iCloud and Apple Care, then bundled them with entertainment services (Apple Entertainment and Music) under one affordable subscription model.

Companies like Adobe and Walmart are also jumping on this lucrative bandwagon to bring in the big bucks. It’s most certainly one of the best recurring revenue models taking over many industries and I’d highly recommend looking into it.

If you’re looking at your product or service and thinking, “how do I apply one of these models to best suit my business?”, then I’ll let you in on a little secret:

Taking me on as a business coach means that I can help you identify exactly what will work best for you and your company.

It takes DICE (determination, interest, compassion and experience) to move a company forward, both on a micro- and macro-level.

And I’ve got all the DICE you need!

So do yourself a huge favour and start communicating with me as soon as you’re ready for a better future:

+2783 253 3339

brent@spillly.com

5 Reasons (Other Than Money) Why Entrepreneurs Work So Hard

By Business Coaching Entrepreneur Motivation psychology No Comments

I rarely find entrepreneurs that don’t work incredibly hard in their businesses. They often make major sacrifices by spending loads of time away from family and friends, neglecting their health and giving up on moments of leisure (holidays, gatherings, etc.), in order to be the best at what they do.

Working hard to become successful and run a great business is generally for one major reason: making profit. Usually, making as much money as possible to have the freedom, security and comfort that financial stability can bring you is a huge motivator.

But I feel that it’s not always quite as simple as that.

I’ve come to discover that there are 5 more reasons (other than cash) that motivate entrepreneurs.

Let me enlighten you:

5.A Sense Of Guilt

Some business owners feel that if they’re not working, then they are being lazy, unproductive and aren’t making a valid contribution to society. People that deal with guilt generally have an internal narrative that reminds them of their obligation to work harder for themselves or for someone else (be it for family or to keep a promise).

There are many people that use guilt to drive their ambition for success and quite often do very well in running a business or in developing a strong career path.

And although it certainly does motivate them to do things, or at least get things done – it’s not exactly a healthy reason to work harder. Guilt often creates a sense of shame, especially if something doesn’t get done or get done right. Yes, we all need to be responsible and hold ourselves accountable, but shame can end up bad for your health and negatively affect your output.

4.High Levels Of Competitiveness 

Some people are highly competitive and absolutely love to win. Losing is never an option, so doing whatever it takes to be the best at what they do is a huge motivating factor. While competing for profits is one thing, competitive business owners see a challenge in almost anything.

Winning can be subjective, though; it’s relative to each individual and will differ from person-to-person. But the highly competitive entrepreneur is often never satisfied with one metric of success, rather they constantly seek out new benchmarks to measure achievement.

When you interact with someone that loves competition, you come across questions like, “How many people do you have in your business? What are your profits like? Who are your biggest clients?”. And usually, questions like these are aimed at gauging the level of success a person has, so that they’re able to determine the best route to take in order to become the better leader.

Being competitive can be great and help you in reaping many rewards, but there are a few disadvantages that come with the desire to always come out on top. There’s a fine line between the enjoyment of playing the game to win and negative motivators like jealousy, envy, and obsession. Sometimes being overly competitive can also mean that you secretly want others to fail, that you don’t want others to be on the same level as you, and that you don’t care who you hurt to get what you want.

3.Being A Perfectionist

Some people are addicted to perfectionism. Obsessive Compulsive Disorder can sometimes play a role, but certain individuals can’t progress until they believe a product, service or task has reached the point of perfection.

The thing is that it takes a lot of hard-work, energy and time to try and attempt perfecting something. I’m not saying that being mediocre in everything that you do is alright, but putting too much effort into a product or service can sometimes do more harm than good. While causing you heaps of stress, which can lead to emotional outbursts, perfection is highly subjective and not always worth the attention that you give to it.

While it might seem admirable to give everything your all, it’s not always effective. Sometimes giving a product or service that is too polished can be off-putting. Also, by trying to make something perfect, you put yourself at greater risk of taking criticisms too seriously which might end up in feelings of failure and resentment.

2.Being A Control-Freak

I’ve come to find that plenty of business owners are driven to do the important work themselves in order to have complete control of the outcome(s). They love either being in control or take complete joy in controlling others. If they aren’t actively involved in the business (pulling the levers, engaging with the work) then they feel pained by a lack of control.

While I often suggest that giving clear briefings, delegating the work that needs to be done and evaluating it afterwards can give you just as much control – there are some absolute control freaks that simply can’t give up that sense of power. This insatiable need to be in control all of the time can be traced to the desire of being right all the time. It creates discomfort in others and displays deep-seated issues of trust.

It might seem like doing the work yourself would be a better approach and your pride might tell you that your involvement is crucial to the success of a product, service, process or operation, but there are plenty of disadvantages that come with being overly controlling. If there’s one way to annoy the living shits out of your employees, then revising their work over and over again is certainly a great option. You end up making people feel inferior and like they aren’t good enough. It can also create resentment and diminish the respect that people have for you.

1.An Addiction To Dopamine & Adrenaline 

This one has become more and more apparent, especially in business owners that work from home. These people are often motivated by the stress of getting work done – they thrive under pressure and quite often produce excellent results. Working hard and through long hours, they function well on the adrenaline and dopamine that comes with the pressure that they deal with.

The idea of producing great results under pressure is called eustress. Eustress is often associated with growth, productivity and skill development – but with any form of stress (whether good or bad), there is a chemical/hormonal reaction that takes place within the brain and body. When dealing with situations that involve pressure, there’s a release of adrenaline, dopamine and cortisol (to name a few) into our bloodstream and it’s not always healthy.

Dopamine is usually released upon achievement of a goal and leaves you feeling great – like a drug, this can become addictive. With adrenaline and cortisol – the two negative hormones that are associated with stress (and eustress) – you end up doing more harm than good. Adrenaline, our fight or flight hormone, causes the body to react to these situations (sweaty palms, frustration, mood shifts) and can have negative effects in the long-term. Cortisol, the stress hormone, is a slow-releasing chemical that can negatively affect our immune systems, blood pressure and digestion (along with others).

With a cocktail of hormones coursing through your veins, it can inevitably have negative effects. And one of the biggest issues is that of depression. Long-term, these chemicals will bring harm to the mind and body; short-term, you can be left with feelings of sadness and hopelessness.

Being that addiction plays a role, when you do end-up taking a break or vacation, then the lack of hormones will affect your mood and energy-levels; you’re basically going cold turkey and it will take up to 2 weeks for your body to stabilise.

Motivators Come In Clusters

Most business owners that are motivated by these different factors usually relate to two or more of the reasons listed above. Some people are driven by guilt and perfection, some by control and competition – each person has more than one motivator.

As a business coach that comes into contact with so many different personalities, I recognise some of these traits in some of the entrepreneurs that I assist.

Making them aware of what motivates them is crucial for self-awareness and understanding why they do the things that they do. In helping them realise these things, I’m able to advise and guide them towards better thinking, reasoning and action.

Knowing how these reasons affect you and why they might be unhealthy will push you towards becoming a better business owner, leader and human being.

As the saying goes: “Check yourself before you wreck yourself.”

Being a business coach means that I not only want what’s best for your business, but for you, as well.

I’m driven by the desire to make your life better, your business better and your approach far more effective.

You deserve a coach that takes every single thing into consideration and not one that is purely motivated by profits, control, competition, guilt, stress or perfection.

You deserve compassion, strength, wisdom and guidance.

So take what you deserve:

+2783 253 3339

brent@spillly.com