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.

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  • 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.

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  • 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.

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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

You need focus and time for ideas to grow your business

From little things big things grow.

You know the song right – by Paul Kelly?

Every business owner knows it’s vital to maintain the progress your company is making, but also ensure it’s also growing steadily. No one likes to be left behind their competitors!

That means working ON your business and not IN it so much.

But to be able to do this successfully you need the time and space to work on your business – you can turn it into the thriving powerhouse you always imagined it would become.

If you think back to the start of your business, in the early days you were probably focused on creating the products and/or services that were needed and valuable at het time, then gradually, you probably began taking on a few contractors or employees and you may have moved into new premises at some stage.

Now that your business is bigger, in order for it to move to the logical next level, it is important to change your mindset from owner-manager and the person who does everything to the CEO who strategises and grows the business continuously.

But how?

Many business owners struggle to change their approach from one of the founder of a start-up to the director of a successful business. Of course, it is understandable to feel as if you simply have no time to focus on your business growth. After all, being a business owner can be extremely busy, stressful and time-consuming.

According to Score.org, a survey from New York Enterprise Report found small business owners work twice as much as regular employees. It also found that 33% of small business owners reported working more than 50 hours per week, and 25% said they work more than 60 hours a week.

You might even work more than that – including weekends, nights and early mornings.

Your days possibly consist of getting involved with the operations, fighting fires, looking after the needs of your customers and team, and trying to run the business as smoothly as possible.

With the world’s economy in a very precarious state at the moment, people are in a very vulnerable state and this could mean pivoting and doing things a differently in order to remain in the game and thrive.

The next 12 months will be tough – how will you survive?

It is no secret that the next 12 months are going to be very tough for businesses and everyone is going to need a support group.

To get through the next 12 months and thrive on the other side, you will a few essential things.

1. A SOLID STRATEGY

The first is a solid strategy. Not only should this involve continuously evaluating the needs of your customers, innovating new concepts and testing ideas, but it should also focus a lot on your growth and gaining a maximum return on your investment.

Your new strategy should take into consideration various factors, such as protecting your intellectual property from your competitors, your business goals, vision and mission, where you see the business in five years and, ultimately, what you need to implement in order to achieve growth.

The direction your strategy takes should be carefully decided upon by you and possibly a few key employees.

2. UNDERSTAND YOUR CLIENTS

As the business owner, you need to take time out to work on your company. Don’t be afraid to delegate work to your team so that you can focus on really getting to know your customers and their needs. Think about what kind of customer service you are offering and how this can be improved on. Building relationships with current clients and looking for new opportunities takes time and needs to be considered a business necessity.

3. COACH OR MENTOR

In these trying times, every business should be thinking about what kind of support they can get. Think about linking up with a mentor who can guide you and offer great advice. Being in an accountability group with like-minded business owners is also a great way to ensure that you reach your goals.

4. BUILD YOUR TEAM

At the end of the day, you need to forget trying to do everything yourself. Focusing on your strategies to build your team and start outsourcing the tactics and day-to-day work. Just these two things alone can go a long way in freeing up valuable time for you and allowing you to focus on new and innovative ideas.

Now is the perfect time to work on your business

So, are you ready to release those shackles and take the next step? If so, we recommend setting a map for the next 12 months and also formulating a 90-day action plan so that you can begin to action that 12-month plan!

We do this inside out 8-week Planning for Success online course.

You will need to review your values and consider what is working and what is not working. This could involve tweaking your plan as you go along. Don’t be afraid to outsource and delegate, and remember that you don’t have to do it all yourself!

That’s what the Planning for Success 8-week course members will help you with – everyone is accountable.

Finally, set some time aside for forecasting so you can plan for the future. Always keep in mind that you should be running your business (not the other way around).

If these steps sound like the recipe for success for your business, and something you are not correctly doing (or haven’t done for a while), start by downloading our business Continuity Plan and then taking the next step and signing up to our 8-week Planning for Success course.

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Planning for Success

The Achiever Matrix: Is your day running you or are you running it?

“Either run the day or the day runs you.” – Jim Rohn

Not all URGENT tasks are important!

I repeat.

Not all URGENT tasks are important!

If you would like to get perspective and prioritise tasks based on their importance to free up your time, read on and we will show you how to do it.

And it comes down to three powerful words.

The Achiever Matrix.

The Achiever Matrix is the easiest way to prioritise the tasks that need to get done (yesterday!).

The Achiever Matrix is made up of four quadrants and helps you prioritise tasks based on their importance; allowing you to manage your time better and achieve more.

  • Quadrant 1 is The Quadrant of Urgency:

This quadrant represents tasks which are both urgent and important. These tasks might be handling an unhappy customer, meeting a deadline, dealing with a crisis, or undertaking urgent re-work.

While we must all spend some time in Q1, many of these activities were important before they became urgent through procrastination or lack of planning and risk management.

  • Quadrant 2 is The Quadrant of Quality:

These are the tasks that are important but not urgent. These tasks relate to planning, anticipating and minimising problems, empowering others, building relationships, and developing skills.

Ignoring tasks in this quadrant will increase the size of Q1, as those important but not urgent tasks become urgent over time. On the other hand, investing time in Q2 will reduce the size of Q1.

We must focus on the tasks in Q2 and spend most of our time working here.

  • Quadrant 3 is The Quadrant of Deception:

These are the tasks that are urgent but not important. The noise of urgency creates an illusion of importance, but the activities within this quadrant are usually only important to someone else. These can include phone calls, meetings, emails, and drop-in visitors.

We often end up spending a lot of time in this quadrant, meeting the needs of others, while fooling ourselves that we’re working in Q1. Tasks in Q3 should be delegated to others where possible to free up your time to work in Q1.

  • Quadrant 4 is The Quadrant of Waste:

These are the tasks which are not urgent and not important. These can include junk emails, some phone calls, time wasters, and “busy” work.

We know we shouldn’t spend any time at all in this quadrant, but sometimes we get weary from being tossed between quadrants 1 and 3, so we escape to Q4 for time out. Q4 is not about survival, it’s deterioration. It may initially feel nice, but it’s empty time and ultimately not satisfying.The Achiever Matrix (1)

QUESTION: Which quadrant did you spend the most time in over the past week?

Most people hang out a lot in Q3 – the Quadrant of Deception. The cost of letting urgency drive you is that you’re not spending time on the quality tasks that are going to improve your business.

The best way to free up your time to work in Q2 is to review your Q3 activities. These tasks may appear important at first glance, but how important are they really? Reclaim time lost to the deception of urgency and spend that time in the Quadrant of Quality.

NOTE: The Achiever Matrix has been adapted from Stephen Covey, author of The 7 Habits of Highly Effective People. Website business impact

Planning for Success

P is for purpose not profit: Why does your business exist?

If I said these two words to you as a two ways to grow your business, which is the most important to you?

Purpose?

Profit?

You may think “profit” is the most important, right? But profits are a by-product of your purpose and showing your customers why you exist for them.

How are you impacting their lives? If we focus on our customers’ needs, better profitability will be a by-product.

The question you really have to ask yourself and understand is:

Why does your business exist?

Question

Why is your purpose important?

Your purpose is roughly three to seven words explaining why your business exists for your customers. Your purpose should be about THEM, not you. It is a small statement, with immense power.

FOR EXAMPLE:

Tesla: To accelerate the world’s transition to sustainable energy.
Walt Disney: To make people happy.
TED: Spread ideas.

These may be big-company examples, but a clear purpose statement is just as important for small and medium-sized business.

A defined purpose statement is the antidote to a hugely profitable business… because we know that consumers are wired to take a self-interest and therefore will engage your business if your why resonates with them. Thereafter, your purpose will drive alignment of values and loyalty.

If you don’t focus on purpose, you’re likely to focus on profit

Guess what? Your customers aren’t interested in you making a profit. They’re too worried about their own profit. They’re more than happy for you to make a profit… provided you meet their needs first.

Let me give you a real-life example. One of our customers was on the hunt for a new car. It was the end of the month and during the negotiation stage, the salesman and business owner said: “We can do it for this price but I need the money in my account tomorrow. That’s the end of the month and it will look better for my figures.”

Do you think she bought the car? No. Why? Because she didn’t feel appreciated, she was just another sale to the business owner, not a valued customer.

The correlation between a business’s ability to serve a higher purpose and stronger financial performance has been proven. So, defining your purpose is a smart business strategy.

It comes down to engagement; with your team and your customers

Numerous studies have told us that a strong sense of purpose drives employee satisfaction, which will help to improve customer loyalty.

Articulating your business’s purpose to your team allows them to see that they are contributing to something bigger than themselves. Linking your purpose to their tasks and responsibilities allows them to see their connection to the outcome; how their role is attributing to the overall vision of the business – how they are impacting your customers’ lives.

If you focus on meeting (and exceeding) your customers’ needs, better profitability will be a by-product.

It’s essentially internal marketing; to achieve buy in and alignment from the team; providing motivation to deliver on your purpose whilst breeding loyalty.

Getting clear on your purpose will also transform your other marketing. Being able to clearly articulate why you exist for your customers in your marketing will tie customers to your brand and make them more inclined to refer you to others.

When that new customer does their due diligence, that is, they stalk your website and social media, it’s more likely they’ll develop an emotional connection to your business and buy from you.

Your purpose must first be defined by the leaders

Only when your purpose is crystal clear can you articulate to your team and then your customers and target audience.

Having a clear purpose is also about sustainability. There is mounting evidence that in these times of change and disruption, having a clear purpose will improve a business’s ability to transform and adapt.

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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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