Guess who’s stopping you expand your business?

big-vs-small

If you asked the question – ‘Guess who’s stopping you expand your business?’ – of a group of ambitious entrepreneurs who were focused with full determination and energy on building theirs, they might come up with a range of reasons. Lack of resources, downturn in markets, changes in external conditions might be some of their responses. Very few of them would stop to look at how they themselves might unwittingly be the very cause of their business limitation.

 

True story of two entrepreneurs

Let’s illustrate this with the true story of two entrepreneurs who both started their own businesses from scratch at about the same time in the same industry, selling similar products and services. We’ll call them Aaron and Barry. For the first few years, their results were similar, but their approach to running their businesses was very different.

 

Investing 100% and getting 100%

Barry was a natural salesman, and had received several sales performance awards in the corporate job he had before starting his own business. He knew he could win business within a couple of meetings with a client. He was giving 100% of his time and energy, and receiving 100% return on his efforts. He was focused on developing his skills and strengths as well as on achieving business growth. He did delegate administrative tasks, and took on a team of sales people under him, but always remained the top sales person.

 

Aaron however was not a natural salesman and yet within ten years his profits were ten times Barry’s. Within fifteen years they were 100 times, and by twenty years they were 1,000 times. His focus from the outset of his business was solely on its expansion.

 

Aaron realised from the start that if he put in 100% of his time and energy, he could get a 100% return, whereas if he delegated to others who weren’t as skilled or knowledgeable as him, they could only give him a 75% return on the investment of their time and energy. However, that still left him with 100% of his time and energy free to focus on developing them and on expanding the business.

 

Sharing secrets of success

He also recognised that if he shared the success secrets he had learned with his team, they would go on to perform better. He wanted them to perform even better than he could. Unlike Barry, he was not afraid of people copying the secrets of his techniques, being aware that people will always copy successful people. By the time they’ve copied him, he would have grown further in his experience and wisdom.

 

Barry still wants to be the star performer, the main driving force of his small company, whereas Aaron guides his mammoth one with a light touch, leaving his team to deal with all the day to day management. He long ago learned not to let himself be the very hindrance that holds back the expansion of his business.

Is your business stuck on a growth plateau? Working with a mentor like Dr Chopra, the Profit Mentor, who is an expert in innovative strategies, could shift your business to its next level. To explore the possibilities for increasing your profits and for creating winning strategies, book a Strategy Session with Dr Chopra by filling in the form http://www.angloindia.co.uk/book-your-strategy-session/

The step you’ve got to take if you want your business to expand

you-are-fired

Like many business owners, John and his business partner Chris* had a strong desire to continue expanding theirs year on year. They had built their manufacturing business from scratch, and after ten years were achieving a turnover of £10 million, with a net profit of £1 million, but had hit a growth plateau for several years running. A plateau is that stage of a business where it has stable and profitable operations but its growth has stalled. Reaching a growth plateau tends to appear at various stages throughout the lifetime of a business, and is a clear signal that changes are overdue.

 

Growth plateaus are frustrating!

Even though John and Chris were enjoying a comfortable lifestyle through the proceeds from their business, they still wanted to expand further, and were frustrated with the growth plateau they had been stuck on for several years. Working more hours didn’t bring the breakthroughs they wanted, and added to their dissatisfaction. They recognised that repeating the same strategy that wasn’t working for them was never going to produce different results.

 

What’s your potential enhanced worth? 

What was required to shift them through the growth plateau into the next level of expansion was a completely different strategy than they had been using. Their desire for that next level demonstrates that John and Chris already had within themselves the worth to achieve far more than they were currently. If their enhanced worth wasn’t there as a potential, the urge to expand wouldn’t arise, and they wouldn’t be thinking about it. It’s as if the urge comes from a creative wellspring within, and your job is to grow into being the person who achieves that expansion.

 

Expansion needs space

The first step of an expansionary shift is to create the space for it. John and Chris had talked about expansion and had hired a profit mentor to assist them with creating innovative growth strategies that would shift their business over the plateau. However they found they were so occupied with handling day to day business issues that they were only tinkering at the edges of the implementation plan. Their frustration multiplied; they now knew what was required for growth but just weren’t getting it into action. Their mentor pointed out to them that their worth in the vision of their expanded business was £100 million per year, and yet right now they were doing work that had a worth of £60,000 per year. Thus they had reduced their worth from £100 million to £60,000.

 

What they needed to do was to promote themselves out of their current roles and responsibilities, and to appoint someone with a worth of £60,000 to take over their roles of handling much of the day to day business matters.

 

Rinse and repeat….

Only with the additional time and freedom that doing this gave could John and Chris create and implement the detailed action plan that would shift their business beyond its growth plateau. And this won’t be the last time that they have to fire themselves from their existing roles and promote themselves to a higher position if they want to continue the expansion of their business as per their vision. Hopefully in the future they will see the growth plateau coming long before they reach it, and plan their systems and strategies accordingly.

 

No matter the stage of your business, from start up to mature, as the business owner you’ll need to be prepared to shift your role and promote yourself to a higher position if you want your business to continue expanding.

 

John and Chris* – not their real names so as to preserve their privacy.

 

Is your business stuck on a growth plateau? Working with a mentor like Dr Chopra, the Profit Mentor, who is an expert in innovative strategies, could shift your business to its next level. To explore the possibilities for increasing your profits and for creating winning strategies, book a Strategy Session with Dr Chopra by filling in the form http://www.angloindia.co.uk/book-your-strategy-session/

Are you secretly committed to failing in business?

business-secret

Ask an entrepreneur what they want in business, and it is likely they’ll say to be successful, to make profits, to improve people’s lives etc. However, whatever they say they want and are committed to, the reality is that it is only their results that show where their true commitment lies – and it’s not always where they say it is.

 

Some entrepreneurs claim that they are committed to profits but the evidence of their results shows that they are actually committed to losses. These kind of entrepreneurs treat their results as their goals and forget the most important part – their performance. They have a secret commitment to something other than profitability.

 

Is hard work the key to success?

Some business owners are committed to working very hard for little return, because that is what they are actually doing. They have a deeply held belief that only hard work leads to success. Without having defined the right strategy for profitability they focus only on working hard on whatever is visible in front of them. Whether they have the right competence for the task is immaterial to them, they are meeting their need to work hard. They probably have a subconscious belief that this is the only way to run a business. As a result their precious energy is wasted on irrelevancies. Then they console themselves about their poor returns by blaming their luck, or Government policies or even their own team. Their family doesn’t understand why there isn’t enough money to spend when the business owner seems to be working so very hard.

 

Where is your focus?

Some business owners say they want to expand their business and profits, but their results show that their unspoken true focus is on developing a large following on social media so that they can be known as an expert in their field. They seem to be unaware that all the praise from their social media groups will never pay their bills.

 

Another example of the business owner being committed to not being profitable is when they persist in marketing the product or service they feel they need to deliver when the evidence of the results shows that the market’s not that interested in it.

 

Business simply means profits

Profitable business is also about customer service, about passion for your product, and not just about the money. However some business owners delude themselves that they’re focused on profit when their true commitment is to delivering their service or improving their clients’ lives, and then complain that they can’t make a sustainable living doing what they love.

 

True business growth starts the moment the entrepreneur fully understands that business and making profits are synonymous and they make a conscious commitment to profitability.

 

Look at your results in business and you’ll see where your true commitment lies. Is that working for you?

 

To book a Profit Strategy Session, contact Dr Chopra by filling in the form http://www.angloindia.co.uk/book-your-profit-strategy-session/

Dragon’s Den – How to present a winning pitch to Sarah Willingham

sarah-willingham-1

Sarah Willingham is a British businesswoman known for her expertise in building successful chains of restaurants and for being a Dragon on the BBC business program Dragon’s Den.

 

Dr Chopra, the Profit Mentor, has turned his visionary spotlight on Sarah Willingham to understand her personality and to suggest how entrepreneurs can best approach her to gain her investment in their business and on making the most of that opportunity over the long term. Dr Chopra has over 40 years experience ofvisionary understanding of people’s personalities and of foreseeing their strategies for success.

 

Personality

Dr Chopra says of Sarah Willingham: “She is a highly intelligent yet straightforward person who is beyond arrogance. She understands the frustrations of the people who, inspite of having talent, are unable to make their mark of commercial success in this complex business world. Her doors are always open for those with genuine commercial frustrations. She is a commercial philanthropist. When she is convinced that a particular entrepreneur is genuine and confident about his or her project then she will even go out of her way to arrange sources of funding for them. She has the rare ability to understand the conceptual depth of a person even through their body language and the tone of their words, so people can’t make a fool of her or take advantage.”

 

Question 1.

As well as having a great product or service that will provide a healthy financial return to an investor, what else will persuade Sarah Willingham to partner with an entrepreneur?

 

Dr Chopra’s answer:

Sarah is more focused on those entrepreneurs whose project is also focused to help needy people. She believes in achieving wider societal improvements through commercial means. She believes in uplifting the country’s economy by empowering people to be successful. So the entrepreneur when presenting his or her commercial strategy to Sarah also needs to focus equally on the social progress aspects of their proposal.”

 

Question 2.

Once the initial partnership deal has been struck, how does the entrepreneur need to deal with Sarah Willingham to make the most of the opportunity?

 

Dr Chopra’s answer:

When Sarah has accepted to work with you, then ask yourself the question, “What is the societal angle to my project?” Keep both societal and commercial goals parallel and you will have the full commitment of her business acumen. Although she believes in fun-filled relaxation, she does not believe in wasting time and efforts so please be careful that every moment and every ounce of your energy is being invested in the project.”

 

Would you like Dr Chopra to turn his visionary spotlight on someone? Many clients have used his insights to aid them with important negotiations. To book a Strategy Session, contact Dr Chopra by filling in the formhttp://www.angloindia.co.uk/book-your-profit-strategy-session/

Dragon’s Den – How to present a winning pitch to Nick Jenkins

Nick Jenkins 1

Nick Jenkins is a British businessman known for founding the online greetings card retailer Moonpig.com, and for being a Dragon on the BBC business program Dragon’s Den.
Dr Chopra, the Profit Mentor, has turned his visionary spotlight on Nick Jenkins to understand his personality and to suggest how entrepreneurs can best approach him to gain his investment in their business and on making the most of that opportunity over the long term. Dr Chopra has over 40 years experience of visionary understanding of people’s personalities and of foreseeing their strategies for success.

Personality

Dr Chopra says of Nick Jenkins: “He has an eagle sharp mind and can easily identify any plus or minus point of a proposition in its minutest details. His mind can see the same depth on any relevant subject that he chooses to focus on; an analogy would be of examining a slide with an electronic microscope.

He does not believe in doing hard work himself but expects his people to work hard. His team members are both happy to be working for him and afraid of him at the same time. He is very humble, down to earth and a caring person who never believes in punishing his people but nonetheless they are scared of making any mistakes. Somehow he is miserly in praising people.

Questions:

Question 1. As well as having a great product or service that will provide a healthy financial return to an investor, what else will persuade Nick Jenkins to partner with an entrepreneur?

Dr Chopra’s answer: “Because Nick is very sharp in pointing out even the extreme negative or positive of a proposition, so a thorough preparation about the conceptual presentation is a must. Any person who can instantly and correctly respond to any question Nick asks them has the maximum chance to win his heart. He knows that he knows, so never give him any wrong answer. If you don’t know the answer then admit it immediately as a wrong answer irritates him. Tell him that you are open to learn and that for you learning is an ongoing process. He welcomes those people who are honest.”

Question 2. Once the initial partnership deal has been struck, how does the entrepreneur need to deal with Nick Jenkins to make the most of the opportunity?

Dr Chopra’s answer: “The main personality focus for the entrepreneur must be to seek Nick’s wisdom input and never claim to be an expert in front of him. Give him a presentation which shows your clarity on the process and also clarity about the gaps. If he feels that you are on the right track but are missing some information then he will fill in the gaps quickly. A person having a visible learning attitude will gain the maximum from Nick’s presence in their business.”

Would you like Dr Chopra to turn his visionary spotlight on someone? Many clients have used his insights to aid them with important negotiations. To book a Strategy Session, contact Dr Chopra by filling in the form http://www.angloindia.co.uk/book-your-profit-strategy-session/