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Understand how to get balanced growth in your business

Understand what differentiates a successful growing business from an out of balance stressed business to get massive results.

In a given situation what will have the most significant impact on the profitability of your business.

For many small and medium sized business (SME) that factor is the experience of the business owner.

Is your experience the key to balanced growth in your business or is there another factor which when applied will springboard your business to the next Level?

From working with hundreds of successful SME business owners over the last fifteen years the key, the Multiplying (X) Factor, is UNDERSTANDING.

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FBP 140: Stop relying on experience to take your business forward

How much do you rely on your business experience? What would happen is something happened that was outside your comfort zone? Ray Moore and Andy Sleet cover the six occasions where your business ownership experience may not be enough.

Read Ray Moore's blog.

Our team of professional business coaches share their expert knowledge and experience every single week, empowering you, the business owner, to develop and grow your business the right way.

Join us as we cover core subjects areas in our unique and relaxed way, including: Rapid Growth, Family Business, Team, Efficiency and so much more.

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FBP 131: Workplace Values vs Results – Getting the right team – Back to Basics

Next on the Back to Basics series, Andy Sleet looks back to Episode 12, which is based on the topic of team. He asks the question: If you had the choice, would you happily rehire all of your employees?

The biggest challenge for business owners can be their team. Andy shares that many don’t think that ALL of their employees share their company’s values as well as getting great results. Andy is joined by Laura Emery to go through a real-life example of how to manage employees that fall into different areas of the Values vs. Results Matrix.

Join The Levels Blog to read more on this topic. 

Our team of professional business coaches share their expert knowledge and experience every single week, empowering you, the business owner, to develop and grow your business the right way.

Join us as we cover core subjects areas in our unique and relaxed way, including: Rapid Growth, Family Business, Team, Efficiency and so much more.

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FBP 130: What’s Holding Your Business Back?

You’ve grown your business to its current size, but now you’ve hit a wall. What’s your next move?

In this episode, Peter Boolkah helps you to identify which area of your business is stuck and how to fix it. Peter also discusses some of the common excuses and mistakes that people make and how to avoid getting stuck on business growth.

Our team of professional business coaches share their expert knowledge and experience every single week, empowering you, the business owner, to develop and grow your business the right way.

Join us as we cover core subjects areas in our unique and relaxed way, including: Rapid Growth, Family Business, Team, Efficiency and so much more.

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FBP 127: Why should your customers buy from you?

What makes your business different from your competitors? Knowing your business’ unique difference gives you an understanding of why your customers buy from you. Using Starbucks as an example, Ray and Andy explain that people don’t just go for the coffee, it’s a comfy meeting place with Wifi. In this episode, Ray and Andy share how to learn why your customers buy from you.

Our team of professional business coaches share their expert knowledge and experience every single week, empowering you, the business owner, to develop and grow your business the right way.

Join us as we cover core subjects areas in our unique and relaxed way, including: Rapid Growth, Family Business, Team, Efficiency and so much more.

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FBP 125: Transitioning from Worker to Owner Mindset

One of the most challenging things facing the founder or owner of a growing business is the change in mindset to transition from a worker to an owner. Ray Moore and Andy Sleet discuss some of the ‘hats’ business owners need to wear – from work and supervisor to director and owner. In this episode, Ray and Andy will also get you to think about where your value is in the business and how to maximise this.

Build on concepts covered in Ray Moore’s second book: Can YOU Step Up to the Growth Challenge?

Our team of professional business coaches share their expert knowledge and experience every single week, empowering you, the business owner, to develop and grow your business the right way.

Join us as we cover core subjects areas in our unique and relaxed way, including: Rapid Growth, Family Business, Team, Efficiency and so much more.

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Don’t lose sight of your end goal

One of the most challenging things for business owners is to grow their mindset along side their business – transitioning from the ‘Worker’ mindset to the ‘Owner’ mindset.

Ray Moore categorises the different mindsets as the ‘hats’ the business owner wears. There are five hats that, these are:

Worker – Gets on with daily work tasks and activities – doing the do!

Supervisor – Delegates activities to others. Sets and aligns the priorities to achieve the plan. Also gets on with their ‘real work’ – doing the do.

Manager – Agrees milestones (budgets, plans, targets etc.) with the Director and delegates tasks to others in order to achieve the plan. In addition, they get on with their ‘real work’ – doing the do!

Director – Sets the direction of the business that will achieve the objectives set by the owner. They set and agree the Managers goals to ensure they are aligned and regularly monitor the progress against agreed milestones. In addition, they have their own priorities, which they see as their ‘real work.’

Owner – Sets the objectives of the business (the End in Mind). They inspire and enrol the Directors and ensure the direction set is aligned to the vision, then regularly monitor progress against the plan. In addition, they set their own priorities and spend a proportion of time getting on with what they see as their ‘real work.’

Which hat do you wear the most in your business?

In large corporations, job roles are often more defined and there is a clearer hierarchy. People are more likely to spend the most time wearing the hat that corresponds with their job title.

However, things are different in SMEs. The lines are blurred around roles and titles and the business owner is likely to wear many of the hats, from Worker to Director – and they probably change hats many times a day!

The key to successfully transitioning through the Levels and growing your business, lies in the proportion of time you spend wearing each hat. Getting too comfortable wearing the wrong hat is a real danger to your business and business growth, and can result in your business becoming short sighted.

In the definition of each hat, you’ll see that they all have ‘real work’ to get on with. Don’t lose sight of the end goal for your business, whether its security or freedom. The only way to reach it is by changing the way you think. And, if you don’t, you’ll be stuck in the daily grind forever.

Based on Ray Moore's second book: Can YOU Step Up To The Growth Challenge?

Ray Moore and Andy Sleet cover this topic in more detail on the Fluid Business Podcast, listen below:

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FBP 124: The Growth Triangle

Cash is one of the key drivers in business and a lack of cash restricts growth in small businesses. In this episode of the Fluid Business Podcast, Ray Moore explains the Growth Triangle, which is a visualisation the process of business growth, profits and cash flow.

Click here to download the diagram.

If you’d like to view the Accounts: Debunked webinar, click www.fluidbusiness.co.uk/accounts-debunked/

Our team of professional business coaches share their expert knowledge and experience every single week, empowering you, the business owner, to develop and grow your business the right way.

Join us as we cover core subjects areas in our unique and relaxed way, including: Rapid Growth, Family Business, Team, Efficiency and so much more.

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How well do your clients know your business?

One of the key drivers of business is ‘Delivery.’ This refers to the consistency and quality of your products and/or services and is usually a focus for business owners. However, for most business owners the priority is driving sales and finding new clients. This can lead to your current, most valuable clients being forgotten.

You’ll be aware that there are some customers that are more valuable to your business (your ‘ideal’ clients). But are these clients aware of all the products and services your business offers? Maybe you’ve told them, or mentioned it in the past. But do they have a full understanding and awareness of everything your business offers?

It’s a well-know fact that getting new clients to purchase from your business is much harder than selling to your existing clients. So what are you doing to identify new opportunities with your existing clients? Getting a true understanding of your customers will help you to sell more. The more you know about their needs and the products or services they use, the easier it is to see opportunities for your business.

TIP

Take some time to get to know your clients, consider using a spreadsheet to register:

  • What your clients currently purchase from you
  • What they use, but purchase elsewhere

Use this information to spot the opportunities and build offers to create awareness.

You might notice a spike in sales as your customers become aware of the wider range of products and services your business offers. And, even if some decide not to purchase with you now, your business will become a suitable alternative if something changes with their current supplier.

This process of getting to know your clients is important for more than the reason of cross/up selling. Having a deeper and clearer understanding of your clients, their needs and current suppliers, you’ll get a better understanding of your target market. Use the information you’ve learnt to build customer profiles and segments that can then be used in your marketing efforts.

The key benefits of getting a true understanding of your clients, and for your clients to have a true understanding of your business are to:

  • Build better relationships with key decision makers
  • Improve awareness of current clients needs
  • Meet client needs more effectively
  • Profile/segment your target audience
  • Increase effectiveness of marketing

For more on this topic, tune in to Episode 122 of the Fluid Business Podcast:

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FBP 103: You Ask We Answer: Should you employ family and friends?

Hugo Heij and Ray Moore are back on the Fluid Business Podcast answering your family business questions. This week they’re answering this listener’s question:

“So many people have warned me against hiring family members and friends. Is it really a bad idea and how can I make it work?”

Dealing with difficult situations can be hard especially when employing family and friends. Hugo and Ray discuss best practice and why establishing fair systems and processes is essential for the business to run smoothly.

Got a question about your business? Send it to us at [email protected]

Our team of professional business coaches share their expert knowledge and experience every single week, empowering you, the business owner, to develop and grow your business the right way.

Join us as we cover core subjects areas in our unique and relaxed way, including: Rapid Growth, Family Business, Team, Efficiency and so much more.