Planning for Success

Having a positive outlook is your best defence in business

For those of you trying to run your own business successfully, the COVID-19 pandemic is almost definitely a source of concern.

Worrying about the future of your business, money, clients, and grappling with all the constant changes, is making it harder to stay in a positive mindset, and even harder to turn things to your advantage.

It’s never been as important as now to develop a strong frame of mind because, for many of us, we are facing business challenges that we have not encountered before, and there are, no doubt, going to be more challenges to face and overcome in the next 6-12 months.

Adopting and maintaining a positive mindset is important because it will help you build resilience, self-esteem, and encourage you to use your creative thinking skills to help your business.

Learning how to come up with ideas and solutions that will help you navigate your business through the COVID crisis. It will empower you and make you better equipped to handle whatever else comes your way.

But what you think, believe, and expect has a direct influence on your ability to achieve and maintain success in life.

Consciously choosing to see the silver lining in every situation can help you to stress less, focus, and still achieve your goals. Be open to new ideas, practice an abundant mentality, don’t be afraid, keep sight of your long-term vision, and trust in yourself and the services you offer.

How to up your positive mindset game in business in 3 steps

1. Take a few tips from the OARBED behavioural model

It is a simple way to become more aware of behaviours that will help you thrive in business and to be aware of those who serve no purpose for you.

  • OAR’ – Ownership, Accountability, Responsibility

These are the skills you want to practice all the time when dealing with team members, employees, employers, and clients.

It’s vital to demonstrate that you have these skills so that even when unfortunate situations arise, you know how to handle them maturely. Realising the role you play when dealing with other people and incorporating these skills as an integral part of your mindset will foster trust, patience, and understanding with people around you.

And not just in your professional life, but in your personal life, too!

  • BED’ – Blame, Excuse, Deny

On the other hand, if you regularly use these behaviours when you interact with others, you are likely to encounter friction, low morale, and a lack of productivity in your workforce.

It’s not always easy to take responsibility when things aren’t going your way, but showing that you have the mental strength and maturity to own your actions will foster stronger relationships with others and they will feel more supportive and honest.

2. Focus on your big goals and vision for your business

When you focus on the future of your business, it’s easier to maintain your positivity because you are constantly working on something that you love.

You can do this easily by following the ‘The Man on the Moon Principle”. It’s a concept that shows how important it is to have a big goal or vision that unites people.

To achieve this goal, it must be broken down into smaller goals or milestones that work towards getting you and your team closer to the big goal.

Remembering that you have a vision, not ever losing sight of it, and working on what you can do right now is an important motivational mindset to adopt.

3. Choose happy and healthy thoughts

According to the ‘Happiness Pie’, we only have 40% control over the happiness we generate in our lives.

This makes it even more crucial to foster healthy thoughts that improve your mindset. Expressing gratitude, thinking optimistically, helping others, and practising living in the moment can improve your state of mind.

Working on your relationships with others, having a positive attitude, and maintaining a focus on your goals will also guarantee you the best chance of getting through this difficult time with the least amount of stress.

Remember, the best thing you can do right now is to stay focused, remember your dream, and don’t lose sight of it!

Taking the next steps for your business success

Once you have worked on your mindset, and are using these skills to help you in your business, then it’s time to talk to a qualified finance team.

Vibrant Business will help take care of all of your financial needs. From tax and accounting to bookkeeping, coaching and mentoring, we can help you plan and structure your business to achieve your milestones. This means less stress for you!

For more information on these services, please contact us or book in for a complimentary Business Impact Session.

Planning for Success

Stuck in the “too-many-tasks” trap? You need to outsource.

Nothing makes us procrastinate more than the “too-many-tasks” trap when you are already feeling overwhelmed and you don’t know what to do next.

But it’s your business (and your cash) that will take the hardest hit.

If you are overwhelmed by your business and the workload attached to it, the first thing to outsource is your tax, accounting and bookkeeping tasks – because this is where the money is – and don’t you want to look after your money?

You need to be across you accounting and bookkeeping, but you also need an expert who knows these areas like the back of their hand and can guide you in the right direction so you can lower your expenses and tax and increase your profits and cashflow.

Vibrant Business is now a one-stop accounting, bookkeeping and mentoring business with a team ready to help you understand your numbers and grow your business with more profit.

We can help you in 3 main areas:

  1. Tax and Accounting
  2. Bookkeeping
  3. Business Mentoring and Courses
  • Tax and Accounting

Our tax and accounting service is ideal for all business owners. Being compliant in this area of your business can be easily be overlooked if you don’t have a specialised accountant on your team.

We can help you build a system to keep your business running smoothly, stay compliant, ensure accuracy, and organise and maintain your financial records.

We specialise with sole traders, partnerships, trusts and companies that require assistance with tax and accounting.

Learn more

  • Bookkeeping

Bookkeeping isn’t always fun but it is a must. We let you do what you are good at in your business while we do the “stuff” you don’t like or don’t have time for.

Not only that, but we keep you updated with real-time reports so you can stay up to date. Keeping in check with what’s going on in the background will help you make strategic business decisions to grow and develop a vibrant business you love.

Learn more 

  • Business Mentoring and Courses

This can all sound overwhelming but with our business mentoring and courses we can help you get clear on the steps required to grow your business.

Our quarterly or monthly coaching programs and our 8-week Planning for Success online course can provide you with increased accountability and support so you can achieve the results you want from your business. The outcomes include increased profitability and cashflow, customised reporting templates to measure actual performance against forecasts and access to an expert sounding board to ensure you continue working towards your goals.

Learn more

The framework for business success

At Vibrant Business, we will set you up for success with our five-step system to ensure clarity, direction and purpose. (It’s a RIPPA! 🙂 )

  • REVIEW: Step back and see where you’re at. What have you achieved since last year? Do you have accurate and viable systems in place?
  • IDENTIFY: What’s holding you back? Did you miss anything or overlook something that can affect you in the long run? Now is the time to knock out any burning issues.
  • PLAN: Now that you have clarity over what you have achieved, now it’s time to plan what needs to be done. Write down your goals and check them every day.
  • PUT: Get cracking! What do you need to put in place to achieve your goals? How long will it take you?
  • ACCOUNTABILITY: Who will keep you in check? Being a business owner, it’s easy to become overwhelmed and lose sight of your goals and end result. Having someone outside of your business to keep you in check is essential for you to stay on track and never lose sight of your dreams.

Taking the next steps for your business success

Gaining clarity, direction and purpose will help your business grow – and the biggest success driver is having a qualified finance team on hand.

Vibrant Business will help take care of all of your financial needs. From tax and accounting to bookkeeping, coaching and mentoring, we can help you plan and structure your business to achieve your milestones.

Not sure where to start or what you need? Book a session with us now to discuss your situation.

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Planning for Success

5 Business Plan Tips that will Skyrocket your Business’s Growth

Planning is bringing the future into the present so that you can do something about it now. ― Alan Lakein, Author

Are you doing something about your business’s success right now?

Thousands of people do what you do. But, what accounts for the magic you create?

Every tycoon and long-standing business in the world is successful because they leverage the what, why, who, when and how all at once.

Simply put:

What + Why + Who + When + How = A winning business.

But most business owners who do not have a business plan have trouble achieving their goals. Does this sound familiar to you?

In this blog, we are going to share with you what you need to do to create a business plan that has the power to guide you with every move.

5 key elements of a winning business plan for every business owner

DID YOU KNOW: 17% of small businesses fail because they lack a business model.

(Source: CBInsights)

Don’t wait until your business is on the edge and then hastily start planning for success. Start doing it now.

We have been in your shoes and have seen this happen time and time again with our clients. Here’s how to take charge of your business to help clear your blocks, plan your vision and hit your targets.

  1. Know your why

Do you know why you set foot into the business world to do what you do? When you know your purpose, you feel empowered and focused. Your purpose needs to state and communicate:

– Why your business exists.

– What you do for your customers

– How your business is different to your competitors

– What your goals, big picture and revenue forecast looks like?
A clear purpose statement, from both a customer’s point of view and the business’s point of view can help you deliver your overall marketing message, employ the right team members and keep them motivated.

  1. Vision and core values for the next 12 months

Business owners are always asked “where do you see yourself in 5 years?”

Many small business owners are often caught off guard when it comes to long-term vision and a plan to sustain the company.

Back up your purpose with core values and a vision that defines your brand, the way you operate as a business, professional relationships and work ethics. This stage is when you should also create 90-day plans, 12-month plan and five-year plan, prepare for challenges and devise ways to promptly take action.

  1. Budget, KPIs and the numbers

Budget and financial goals play a pivotal role in a business’s success. When you have a defined budget, you have more clarity, can determine the annual gross revenue and make informed and accurate financial decisions in your business.

When you have a budget, you can also create more realistic and achievable KPIs that support your business goals. If you want to track and measure the results, performance and success of your business – you need a business plan.

DID YOU KNOW: KPIs (key performance indicators) are like levers and when you pull them they can have a significant impact on your bottom line and results.

When you know the numbers you want to achieve, targets and performance goals, it opens the lid on your business’s financial secrets and allows you to turn on the sales tap to transform your business, so you feel more confident and less stressed.

  1. Target your ideal client and create a value proposition

If you do not know your ideal client and what your business’s value is, you will end up going ‘round in circles – and it will be really hard to achieve financial growth.

Nothing will come from trying to attract and satisfy everyone. Instead, find out who you want to work with and how you can define those clients.

Without the right customers, business success will seem out of reach.

Today, your audience wants to know why you are different from your competitors, why they should be doing business with you and how your offerings stand out from the crowd to help them.

A value proposition that is in line with exactly what your customers expect from you, helps you supercharge your business in unimaginable ways.

HOT TIP: It’s all about them, so find out everything you need to know about your audience and ideal clients so you can create offerings and add value accordingly.

  1. Identify your opportunities, vulnerabilities and your most critical challenges

It can be fairly easy to identify your business’s strengths and what you bring to the table that no one else does.

But it’s equally important to know your vulnerabilities, challenges and any critical issues that have the power to impact and influence your business – in both good and bad ways.

While no one could have predicted the coronavirus pandemic, it crippled millions of businesses around the world. It’s the reason so many businesses needed to pivot.

Have you thought about what could harm your business and do you have contingency measures in place?

Identifying the opportunities, vulnerabilities and your most critical challenges can help form the basis of your goals and actions to either overcome them or take advantage of them.

Knowing these can also lead you to understand the scope of improvement and how you can do better in business.

Take the first step to lead your business to massive growth and success

 If you are a business owner and want to steer your business in the right direction towards your end goals, that is, or more time and money, our “Planning for Success” 8-week online course is the boost you need.

Inside it we cover:

  1. Your why
  2. Vision and core values for the next 12 months
  3. Budget, KPIs and the numbers
  4. Target market, ideal client and value proposition
  5. Identifying opportunities, vulnerabilities and your most critical challenges
  6. 12-month goals
  7. 90-day goals and action plan
  8. Accountability

Are you ready to seize the day?

Take your first step to business success and register for our 8 week online course here

Alternatively, if you have a burning question or wonder how this course will help you specifically, don’t keep it to yourself…book a call with us here and let’s talk.

 

Have you downloaded your FREE Business Continuity Planning Guide & Template yet? Click Below.

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Planning for Success

Why you need to regain control of your business in 2020

“Dreams x Goals x Plans x Actions = Your success” – Brad Sugars

Are you feeling like a slave to your business?

If 2019 was a tough year in business for you because the business was running you – I get it. And that’s a tough place to be in.

You know, not all business owners want to grow their business. Some may just want more control.

After all, your business is there to serve you; you shouldn’t be a slave to it. But so often I see businesses running their owners – and that’s actually not being a business owner, it’s being a business operator.

And that’s when your business will feel like a job. Probably like the full-time job you left many years ago.

So, how do you regain that much needed control?

There are three essential tools all businesses must have:

  1. An annual business plan
  2. An annual forecast
  3. Ongoing reporting and accountability

When you have these three elements in place, your business will start feeling a lot more controlled.

  1. The annual business plan

Your business plan shouldn’t be a lengthy document living in a dusty drawer. It should be on one page and displayed somewhere highly visible so you can review it regularly.

Best developed using an independent facilitator, your business plan should articulate exactly what you want from your business; the hours you want to work, the holidays you want to take, and the income you need.

You’ll identify Key Performance Indicators (KPIs) to monitor, vulnerabilities to manage, and opportunities to act upon. You’ll set no more than four key goals for the year, breaking these down into quarterly goals with clear actions to complete in order to achieve them.

  1. The annual forecast

Your forecast will record how cash must flow throughout the year to give you what you want from your business. Too often business owners only create a forecast because the bank has requested one.

The forecast will highlight your business’s weaknesses, when cashflow problems might arise, and how you need to manage your business financially to achieve the goals in your business plan. Don’t wait for your bank to request a forecast; it’s an essential tool to ensure the success of your business every year.

  1. Ongoing reporting and accountability

The value lies in the implementation of your business plan and annual forecast. Constantly reviewing your progress against your targets is crucial. Ongoing reporting allows you to track actual results against your forecast to ensure progress towards your goals.

The best way to ensure you don’t fail to implement the plan is to be held accountable by someone independent. Every business owner needs a coach.

A great coach will work with you to get a result better than you could achieve on your own. They’ll uncover the root causes of problems in your business and empower you to do better.

Most importantly, they’ll hold you accountable to getting the important stuff done.

Do you need some help?

There are no magic bullets to business success. All businesses need these three tools.

If you are feeling out of control and you want a different business in 2020, get in touch to discuss how we can work together – to help you gain control of your business.

For a free consultation to see if we can help you, simply book a call today.

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Planning for Success

10 Ways to Break (up with) Your Resolutions

Ever Tried. Ever Failed. No Matter. Try Again, Fail Again. Fail Better. – Samuel Beckett

We are almost to the end of the first month of 2019! Like whhhaaattt! I know right…

Soooooo have you broken up with your NEW YEARS RESOLUTIONS yet?

Or are you working towards a breakup?

Starting a new year is when we also start envisioning a new start in our life, either personally or in business or both! This year I am get fit & fab… this year I am going to make a huge profit in my business….. this year I am ………

If you haven’t yet broken up with your resolutions, I thought I would give you a 10 way guide to guarantee your break up. 😊

STEP 1 – Make resolutions that are not ACHIEVABLE. If your goal is too big or not practical, you are just not going to achieve them, and you will just give up. (ie I am going get 100 clients in 2 months – and you currently have 3!)

STEP 2 – Don’t set any TIME limits on your goals. If you don’t have a date, you are not going to get there.

STEP 3 – Don’t put a PLAN into place to achieve your resolution. Just bumble along, try a few things here and there and hope it all works out.

STEP 4 – Put a plan into place but don’t ACTION your plan. That plan looks awesome on my wall….

STEP 5 – No ACCOUNTABILITY. Whatever you do…. DON’T make yourself accountable or find someone to hold you to account. For goodness sake you might actually stick to your resolution if you do this one….

STEP 6 – Make absolutely no attempt to review your HABITS and adjust them to keep in line with your resolutions. Apparently, it takes 21 days to form a habit, I write this on the 22 January, this step might be too late for you……sorry

STEP 7 – Don’t have any way to track or MEASURE your progress. I mean who wants to know how you are going towards reaching your resolution, you’re are only going to break up with it anyway.

STEP 8 – Don’t have a REASON for your resolutions. If you have a defined and clear reason why you have created this resolution and why it needs to happen, then you might actually see it through! I mean who wants to live to see your grandchildren grow up right…

STEP 9 – Whatever you do, DON’T put your resolutions consistently in FRONT OF MIND. You know like on the fridge, on your mirror, on your screen savers. Geez you might actually keep thinking about what you want to achieve and why.

STEP 10 – Honestly just give up already! That DETERMINATION and FOCUS is not going to get you anywhere with your break-up… Seriously…..

I would love to hear what steps you have taken to break up with your resolutions. What were your 2019 resolutions and where are you at with them?

Now seriously if you REALLY do want to make a CHANGE in 2019 and do something differently this year, PLAN FOR SUCCESS!

Check out our newly created 12 Week Planning for Success program that GUARANTEES your success this year.

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