See your 2020 Vision and create success

See your 2020 Vision and create success

“Good business leaders create a vision, articulate the vision, passionately own the vision, and relentlessly drive it to completion.” – Jack Welch

As the year-end approaches and we set ourselves up for a journey into the new year and decade, this is the ideal time to stop, reflect and visualise what success will look like for you and your business.

Why does having a vision help?

As Jack Welch said, a vision is something that you can communicate and drive with passion.

A shared vision that has passion and is genuine goes beyond the leader, and creates an energy that excites the entire team. Genuine enthusiasm and passion is the fuel that a team requires to do extraordinary things and in return, they help share the load, and thrive while doing so. You will not be alone in creating a positive future. Rather the business shifts from a ‘Me’ siloed culture to ‘We’ – the way of collaborative growth.

A shared vision that is well articulated and put into action will deliver passionate service outcomes, then create a new depth of customer loyalty that boosts profitability and ensures sustainability.

It is amazing how a vision, when lived passionately, acts as a guide to ensure well-considered decisions are made. At the same time, your vision allows you to be an early adopter, as you will easily identify new opportunities that fit perfectly into your future business outlook.

When you leverage these opportunities, some will call it luck. But you will know that your future vision-enabled decisive actions to be taken.

Success does not come from luck. It comes from visioning and being able to recognise when an opportunity is at hand, enabling decisive actions and outcomes.

What will be your Vision for 2020? 

How will you passionately share this with your team and energise them to come on a journey with you?

Leadership Coaching

If you would like to have a discussion on how you can bring a 2020 Vision into your business, please contact me for an obligation free coaching conversation. You can email me here

I wish you all a Merry Christmas and Happy New Year and all the best for a successful 2020 – with vision.

Small steps that create amazing outcomes

Small steps that create amazing outcomes

Are you ready for a change? Show no fear, take a well prepared and proven step towards new success in your business.

We’ve all made mistakes. Lost a friendship, lost a customer – and wished we’d handled the situation better. We’ve all recognised a ‘learning opportunity’, resolved to do things differently next time, then become busy and moved on.

But wishing and hoping gets you nowhere. Only ACTION moves you forward!

Could you be providing better solutions for your clients and your staff? Could you be investing more time in your family and friends – or yourself? 

The honest answer for the majority of us is, yes, there is room to improve. And when we gain this self-awareness, we should not see this as failure, but an opportunity.

Over the next month, why not Take 5 and challenge yourself to a small improvement in four areas of your life.

  1. As a collaborator, select one area in your business where you and your team can provide a better client experience – and make a change. 
  2. As a leader – select one area of team interaction where you can better guide or support team members with positive praise and thanks.
  3. As a friend or family member – take the time to reach out to others in person. It could be as simple as a quiet coffee or a long-overdue lunch with a friend.
  4. For you – treat yourself to an indulgence. Be inventive – do something ‘out of the box’.

The last point is often sadly overlooked. In fact, if you do only one thing in the next month, it should be this. 

I appreciate that as a business leader. you are busy. But I urge you to reflect. If you do not treat yourself well, you limit your ability to lead.

Many of my clients have told me they consider it selfish to take time off for themselves. But is it selfish to recharge, so you can be the best version of yourself when at work or with family and friends?

The more you invest in yourself and in your own mental health and fitness, the better the solutions, outcomes and life successes will be achieved.

I invite you to Take 5, then get in touch and let me know how you go with your improvements, both professionally and personally. 

ARE YOU A SMALL BUSINESS LOOKING TO IMPROVE YOUR BOTTOM LINE?

ARE YOU A SMALL BUSINESS LOOKING TO IMPROVE YOUR BOTTOM LINE?

Why is there so much hype about client data these days?

Almost every major business is looking for ways to mine their virtual ‘pot of gold’ – their customer list. Businesses are examining customer behaviours, needs, current spend capacity, likes, dislikes and whatever demographic angle can be identified, in order to leverage revenue growth.

So how can you and your business compete with the massive global businesses who are investing tens, if not hundreds of millions in data analysis?  

The answer is simple. Go old school!

  1. Write down your top 10 customers. If you’re not sure who they are, check your accounting system to see who has spent the most with you over the past 12 months.

    Review what they have purchased and the last time they transacted with you.  

  2. Armed with this intelligence, simply make a call, have a chat and or even better, sit down with the customer over coffee.  

How long has it been since you spoke to your top 10-20-50 customers? Do you know how they feel about your business and their customer experience?

Remember, to achieve success, you need to focus on the experience you and your team provide to each and every customer, every time.  

When you go ‘old school’  – simply gaining an understanding of your best customers and their value to your business, then meeting face to face to openly learn ways to better help them – you’ll be amazed what you can achieve!

If you would like to understand how you and your business can leverage your data, without the expense of advanced analytics, please contact me for an obligation free coaching discussion.

Beware of shiny new objects

Beware of shiny new objects

It is shiny, it is new…

 

BUT BEWARE, EVERYTHING THAT GLITTERS IS NOT GOLD!

Great business entrepreneurs and successful leaders create significant profits and leverage fantastic opportunities by seizing moments when they present themselves. They do so with passion – and often as early adopters.

Unfortunately, many entrepreneurs and leaders become drawn to the bright, shiny opportunities, and the more successful they become, the busier they are, the less mental capacity there is to make informed decisions. This attraction to new shiny opportunities is often referred to as ‘Shiny Object Syndrome’.

While Shiny Object Syndrome is often presented in a negative light, when understood, it is often the differentiator between success and average performance or failure. Those who are successful in managing this syndrome understand the psychological “Shadow” aspect as described by Carl Jung (Swiss psychiatrist and Founder of analytical psychology).

Successful entrepreneurs and leaders differentiate their outcomes from those that are average or underperforming by identifying opportunities with value and well-understood risks.

So how do you tell the difference between REAL GOLD and avoid time, money and energy chasing FOOL’S GOLD?

Both shine, attract attention and excite entrepreneurs and leaders; however, success is created when you:

  1. Take 5. Pause to gather facts before jumping in and committing to an action.
  2. Ask – what specific benefits will this provide to my business?
  3. Consider – what is the initial investment and ongoing costs? Will the opportunity provide positive returns?
  4. Ask – is this something that my customers want, need and will pay for?
  5. Consider – do I have the time, resources, money and knowledge to fully commit to optimising this opportunity?
  6. Review all to-do items you have to complete. Is this new opportunity of greatest importance?
  7. Ask – do I need this in my life and business at this point in time, or would other opportunities provide a higher return?
  8. Make clear, timely decisions and then ACT with full commitment until the execution of all must complete steps have been successfully undertaken.

Businesses that create sustainably successful outcomes do so by spotting the opportunities that keep their customers at the front of mind, deliver offerings that reflect their status as industry leaders and by focusing on this eight-point checklist.

If you are struggling with Shiny Object Syndrome, contact me to book a FREE, 90 minute session with me, to get things back on track.

 

MAKE LIFE EASIER FOR YOURSELF AND YOUR CUSTOMERS

MAKE LIFE EASIER FOR YOURSELF AND YOUR CUSTOMERS

What happens when you have a stress free customer experience?

Better business solutions, deliver better outcomes and in the process create a better life for you and your customers.

This better business solution revolves around needless FRICTION POINTS that you, your team and most importantly your customers suffer. Some of these friction points will result in a significant loss of business, a decline in customer satisfaction and reduced revenues.

The support I provide to my clients often revolves around Friction Points and in finding practical solutions to these issues.

Successful business leaders who open their minds to creating frictionless engagement outcomes discover a new and proactive way of viewing client relationships.

 So, step away from your desk, remove all distractions and let’s see how you can also get started on your frictionless customer journey, towards a better life.

Creating frictionless outcomes
To sustain your business in the long-term, you need clients who are lifelong champions. This requires “Frictionless Engagement” – a unique customer experience. Every customer’s interaction with your business, at any level, should be conducted with ease and be positive and memorable.
Here are a few simple examples of frictionless customer experiences;  

  • User-friendly e-commerce solutions, so your customers have your product in their home faster
  • Easy-read product explanations that reduce the need for customers to call or email you
  • Salespeople who work collaboratively with customers to find a frictionless solution and outcome.

Your product, platform and your people and all interactions with your clients must continuously deliver exceptional experiences reflecting your core culture and brand.
 
This process can take as little as five minutes as you reflect on areas where there may be friction. Ask one or two customers and staff members to help you identify potential friction points for improvement. Often, changes can be simple and affordable and no matter how small they appear, if one customer experience is enhanced, there may well be improvements for many.
 
There’s no need to find every issue. Simply identify five points of friction that could be resolved to improve the customer experience.
 
Call your team together – or if you’re a solopreneur, remove all external distractions – examine each issue in turn and seek one solution at a time. Then sit back and observe the positive impact of a frictionless environment!

Frictionless Solutions, Create Better Business Outcomes and in turn, a Better Life!

Loyal customers – worth their weight in gold? (Part 2)

Loyal customers – worth their weight in gold? (Part 2)

In our last blog, we explored the value of the loyal customer and the proof you need to invest more heavily in a loyalty program.
In part two, we dive deeper into how we nurture our loyal customers and create a plan for greater profitability.

Firstly, let’s take some time to analyse your customer base.

  1. Classify your customers into the following specific segments so that specific actions can occur.
  1. Crafting a nurturing plan – where are the opportunities?

A loyalty program is an essential business ingredient that holds significant opportunities for every business. As with all great opportunities, specific actions must be undertaken to create outcomes.

Maximise the return on the effort you have made in establishing your loyal customer base with a simple segmentation process.

Segmentation is the starting point for strategies designed to deepen your relationships and knowledge of those customers who invest in your offering.

Establishing your critical areas for awareness will provide you with essential evaluation questions to ask regarding these customers.

This segmentation has a simple three colour classification – Blue, Amber and Red.

When it comes to customer loyalty, several factors impact the quality of the relationship.


Fig 2 represents how business’s transact and the regularity of interactions, which drives measurable outcomes to boost the understandings of customer loyalty.

For your KEY CUSTOMERS consider;

  • What specific action have I undertaken to let these customers know they are highly valued?
  • Have I met and or have transactions occurred within the past three months? If not, why?
  • Have I spent specific time in reviewing the needs or issues these customers face?
  • What opportunities or risks do these customers foresee?

Never become complacent about your relationship with key customers. The reality is – every current and new competitor will be working towards acquiring your customer.  

Special events, customised solutions or one-on-one conversations designed to service and possibly uncover hidden needs are crucial to sustaining a highly satisfied customer.

The closer your relationship, the deeper your knowledge is of your customer, the more in touch you are with the core of your business, allowing you to be at the forefront of subtle trend changes.

This type of market and customer intelligence keeps the best businesses ahead of their competition and deeply entrenched with their loyal customers.

HIGH POTENTIAL CUSTOMERS provide the ideal base to create business and revenue growth.

In reality, most of the hard work in terms of relationship building has been done. These customers support your services; know and trust your products and/or services. The opportunity exists now to broaden the range of products used, or the volume of business they share with you.

 The focus within this segment is to identify what customer needs you can get better service and what challenges your customers are facing.

While this sounds like a logical and simple solution, it is incredible how much time is lost servicing the customers who are in the review and red zones shown on the segmentation matrix.

When first undertaking a strategy to boost your business, the starting point is simple. Focus on customers with the highest probability of delivering the most significant success. In other words, look for the low hanging fruit!

ID SOLUTION CUSTOMERS previously had or still have high business volume, but the regularity of transactions and or quality of interactions have declined.

As with HIGH POTENTIAL customers, a significant investment to originally onboard the customer has been undertaken and often these relationships can be reinvigorated with a simple conversation.

The opportunity with this segment is to merely reach out to the customer and engage in discussions specifically designed to reconnect and understand their needs. The objective is to identify the specific reasons for the changes in previous business transaction patterns.

UNDERSTAND, REVIEW, PARK CUSTOMERS

Undertaking specific actions that create a focused set of undertakings is the most critical aspect of business life. Prioritising activities within particular parts of the customer loyalty segmentation, is an absolute must. Focused efforts to provide the best outcome for energy invested is the only way forward.

UNDERSTAND AND REVIEW CUSTOMERS require a limited, yet focused amount of time to extract learning opportunities. These learnings should be used to improve your offerings and deepen your understandings around customer concerns that can be resolved.

PARK CUSTOMERS is an area that must be watched and time invested only when it is readily available.

UNDERSTAND, REVIEW, PARK segments can be a significant drain on your business and resources.

These segments attract focus for a multitude of reasons. A lack of understanding and or poor customer knowledge means these customers may be seen as having more potential than would ever be possible.

On other occasions, some of these customers create significant drain due to unreasonable expectations. Some may only use a provider as a price checking mechanism, designed to keep their prefered provider on their toes.

No more than 10% of your time should be invested in the UNDERSTAND, REVIEW, PARK segments. Save the remaining 90% for the customers with the potential to provide profitability and sustainability.

Businesses often invest time and resources in the wrong customers. It is essential to focus on those with the most significant opportunity. These customers drive growth and ensure a sustainable and successful business.

Be fact-based and honest with your customer segmentation to truly identify opportunities for your business.

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