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/

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/

 

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/