How to get the best out of working with a mentor

expert

Should you become ill and have to be seen by a hospital consultant, they’ll prescribe a course of treatment to cure your problem. Generally people follow what the consultant says because they know that they don’t have the same knowledge and experience that he or she does. They accept that the consultant is an expert in the medical field.

 

The same applies if you consult a lawyer. It’s usual to follow what he or she advises, because they are an expert in the legal field and you’re not.

 

So it’s fair to suggest that anyone working with a mentor would follow what he or she advises, because they’re an expert in their field and you’re not.

 

Our experience is that those clients who take on board what the mentor suggests as the solution for increasing their profits and then implements it fully go on to achieve success.

 

The role of the mentor

 

The role of the mentor is not to prescribe solutions to be implemented. The role is to discuss the client’s goals and problems as per their specific and relevant background and from that basis to make relevant suggestions. These suggestions are discussed with the client as per his situation. The information shared by the mentor and that shared by the client is organised and fine tuned by the mentor so that together they arrive at the strategy that is to be implemented. This decision once implemented with total commitment will surely lead to success.

 

Do people who know everything need a mentor?

 

It seems that some clients have a false feeling that they already know everything about their field. It is true that they do know everything on a scale from zero to twenty but it is unlikely they have the conceptual depth from twenty to one hundred that their mentor has. Those that judge the mentor’s suggestions by their own knowledge and experience, and then alter what they implement to what they think best, do achieve some success. However this success is nowhere near as much as would have been achieved had they trusted in their mentor’s expertise.

 

The best method for gaining the maximum

 

If you have a mentor, the best method for gaining the maximum out of the experience is to implement what you have both agreed is the best policy to achieve your stated targets. If after your mentoring session you discover that you have further or different ideas, it’s wise to discuss these with your mentor rather than rushing forward to implement them. The plan that you should implement is the one jointly decided upon by you and your mentor. In this way you gain the benefit of your own inspiration and information plus it is tempered by the wisdom of your mentor who is an expert in his or her field. Your mentor will always welcome your idea and will help you arrive at a practical step by step strategic plan leading to your continuous ongoing success.

 

Your mentor is perhaps the only person aside from your loved ones who is happy for your success and will celebrate it along with 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/

 

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/

Obstacles to business growth: A Cautionary Tale of the Entrepreneur brimming with brilliant ideas

African American businessman falling on wet floor in office

Entrepreneurs are a special breed of business people, often characterised by their effortless ability to create brilliant ideas. But in their brilliance lies their potential downfall, as illustrated by the cautionary tale that follows of an Entrepreneur called Chris.

 

“Chris knew that he was very intelligent and many of his family, friends and colleagues agreed with his opinion. Even as a young man, he was brimming with brilliant business ideas, not just in outline but in full strategic detail. He was clear on how to launch each of those ideas and turn it into a successful business. His family, friends and colleagues predicted a rosy and profitable future for the budding entrepreneur.

 

Scroll on twenty years and Chris’s success has not materialised. He’s still scrabbling around for ways to earn enough to keep the roof over his head. Buy him a pint and he’ll share with you his latest brilliant idea for his next profitable business.”

 

So what went wrong

Imagine you’ve got £100,000 in capital to invest in your own business. One approach would be to invest this amount in just one well researched idea for which you’ve developed a step by step strategic plan. Another approach would be to invest your £100,000 equally across 20 different good ideas, each with their own strategic plan. What will happen? In the second case each idea has had an investment of only £5,000 compared with investing £100,000 in a single well researched idea. Not only has the single project received a far higher monetary investment, it will also have received a far higher investment in terms of your time and energy, and thus stands to deliver you far greater rewards. This is not the approach that Chris followed, unfortunately for him.

 

Entrepreneurs by their very nature produce many brilliant ideas

Unlike Chris, successful entrepreneurs know how to handle the temptation of getting distracted by each new possibility and chasing after it, thereby not paying attention to their main business. They know that the risk is that they can end up with many half started projects and achieve no real results. Their solution is to focus on one business at one time, establish it so it’s successful and someone else is handling the day to day running. Only as that stage is coming into close focus do they start their next business, even though they’ve had the strategic plan ready for it for some time.

So what to do with all the brilliant ideas that come to you while you’re establishing the first business?

 

One approach

Allow yourself a limited time (set an alarm if necessary) to write down the idea, visualise its full potential, plan it in outline and then put it away in a ‘future projects’ journal, a tin on a shelf, a file, whatever works for you. It’ll be quietly simmering and percolating. When you’re ready to select the next project or business to focus on, look through all the ideas and select whichever seems the most appropriate.

 

Another approach

Set up a business of developing your brilliant ideas to the point where they can be sold as a business package to other entrepreneurs for them to establish on a stand-alone or, ideally, a joint venture basis. You’ll not only profit from your ideas in the short term but also have the opportunity to see them grow into large profitable projects You’ll need to have a thorough knowledge, both theoretical and practical, of how to run a successful business before this is fully viable.

 

Whichever of the approaches works for you, what they give you is a way to capture and profit from your brilliance rather than letting it become an obstacle to your growth. Poor old Chris!

 

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

How to increase prices when tied into fixed price contracts

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Some clients who start working with us on the journey to multiplying their profits feel that it’s an impossibility for them to increase their selling prices because they are tied into fixed price contracts. They can envisage saving a little from their costs to squeeze a little extra profit from their sales, but can’t envisage how it’s possible to multiply their profits as they can’t increase prices.

There is a way to solve this problem and I illustrate it to clients with my true story:

The Initiation

In early 1980s, long before formally working as a profit mentor, I was a doctor running my own hospital in India. The fees for a consultation with me were 100 rupees which was the maximum the general population would pay to see a doctor at that time.

 

One day as an experiment I altered the sign hanging above the reception desk so that it read: “Fee for consultation with Dr Chopra: 100 rupees. Fee for Special Consultation with Dr Chopra: 1000 rupees.”

 

Patients would ask me what the special consultation was. I told them that as well as dealing with their medical problem, they could also talk with me about any life problem for which they hadn’t found an answer to date. It was the beginning of my mentoring services.

 

To my surprise, from then on a percentage of patients every month requested the ‘Special Consultation’, willingly paying ten times the normal fee for what they saw as a premium product.

 

Strategy

Many profit mentoring clients have used the principle of my story to increase their profits. They have maintained their current product or service as their basic level offering. They have then developed an additional two to four quality premium products or services across a varying price range. These have been offered both to existing clients or customers where they have fixed price contracts, and to new potential clients. A percentage of customers and clients will not be as price sensitive as others, and will opt for the premium product or service with its superior quality and benefits, thereby increasing your revenues and profits.

 

It’s a principle that you’ll have seen used in many different areas of retailing and public service, from ready meals to handbags, from petrol to cinema seats, from hairdressing to air travel. Are you using the principle in your business to help increase your profits?

 

If you don’t already have a premium product or service on offer, what could you develop that would be your version of ‘the Special Consultation’?

 

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/

Four business success lessons from Candy Crush Saga

Candy Crush

Candy Crush Saga is an online puzzle game played by millions across the world on their mobiles, tablets or laptops. It’s a simple game, involving switching adjacent coloured shapes called candies to form rows of three or more of the same colour, which are then cleared from the board. It’s big business: although you can play for free, which 97% of users do, you can also pay out for additional goes and for boosters that increase your chances of winning the game. It was reported that in 2014 the 3% of players who did choose to pay for extras spent over £865 million, making it one of the most lucrative mobile games ever.

 

As well as being a not unpleasant way of passing a long train journey, there are several business success lessons that an ambitious entrepreneur keen on increasing profits can learn from the strategy of playing Candy Crush Saga successfully.

 

Lesson one: Don’t jump at the first option available

 

When you look at the array of coloured candies displayed on the board, you’re looking to move one candy so that it forms a row of three or more of the same colour. The temptation is to go for the first move that you see. It takes restraint to search the entire board for all the possible options, and then to select the move that delivers you the most return, both in immediate results and for setting you up for the next move.

 

The entrepreneurial mind has a tendency to jump at the first available solution or to take the first opportunity that presents itself. It’s more effective to invest the time to explore multiple solutions and options before selecting the one that delivers you the best return on your money, energy and time.

 

Lesson two: Never lose sight of the overall objective

 

Each level of the Candy Crush game has a specific objective, and it’s vital to keep this objective in mind when choosing which of the possible moves to make. You only have a limited number of moves for each game, and if you don’t complete the objective in that number of moves, it’s game over, you’ve lost. So don’t make a move unless it definitely helps towards the objective.

 

As an entrepreneur there can be so many options and opportunities to consider, so many things you can do, but are they taking you towards your overall objective? Just because you can do something, doesn’t mean you should be doing it. Select your strategy wisely so that you reach your objective in the smallest number of moves possible.

 

Lesson three: Don’t take opportunities, make opportunities

 

If you can move a candy so that it forms a row of four or more of the same colour, it produces a ‘special candy’ which has far greater power and effect to help you achieve your objective. Sometimes as you scan the board for options, you’ll spot the opportunity to make such a special candy. Other times, if you can plan ahead, you can make a move now that sets you up for making a special candy in the next turn. Again, this takes restraint as it means not moving a candy in this move that could net you one small win in order to make a much bigger win in a few moves time.

 

Opportunities may well present themselves to the entrepreneur, and it can be very tempting to say yes if they align with your intentions. However, every opportunity comes at a cost: the cost of what else you could be doing with the money, time and energy required for that opportunity. By saying yes, are you effectively saying no to a bigger opportunity with greater returns that’s not quite in sight yet?

 

Lesson four: Life is random but you’re evolving

 

When you first open the game, the array of candies is randomly laid out. As you clear the candies, new candies come onto the board in a totally random way. Luck can play a great part in whether you’ll be successful. It can feel disheartening to keep failing a tricky level of the game. However if you’re playing intelligently, each time you play your skill has increased while the luck element stays the same. So each go gives you a greater potential of winning.

 

If you’re playing the entrepreneurial game intelligently, you’re developing mastery regardless of the circumstances. Losing today means you’re better equipped to win tomorrow.

 

Working with a mentor like Dr Chopra, the Profit Mentor, further increases your chances of winning the entrepreneurial game. 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-profit-strategy-session/