Get more customers, attract dream teams, and do more with less time.
Published by ActionCOACH Philippines
In front of hundreds of eager participants from across the Philippines, Paul Henshall, one of the top global business coaches from ActionCOACH and the CEO of ActionCOACH Australia & New Zealand, shared the six steps to a better business.
“It’s the success of the businesses in the community that actually makes the community successful,” Paul Henshall said as he expressed his excitement for ActionCOACH Philippines in helping out local businesses grow and become even more successful.
According to him, there are six steps to a better business, and these could help in increasing profits and sales, freeing up business owner’s time, and creating amazing teams.
Most business failures are due to the lack of management expertise. Under this first step, there are four areas that business owners need to master in order to eliminate chaos and create stability in their business. These are Destination Mastery, Money Mastery, Time Mastery, and Delivery Mastery. Destination Mastery is having a vision and direction for your business. Money Mastery is having the financial intelligence needed in order to manage your business better. Time Mastery is about the productivity and efficiency of your teams, your systems, and yourself as the business owner. Delivery Mastery is basically about the consistency of your business, from production to customer service.
“Consistency is the foundation for healthy growth,” he says.
Paul Henshall says that Niche means business owners are not competing on price. This step urges business owners to find several unique aspects in what they offer and to find the one the market will buy because of them. Niche is also about creating greater profits. While most business owners focus on either marketing to get more leads or cutting cost to generate profits, ActionCoach focuses on 5 key drivers to create exponential profit growth - No. of Leads, Conversion Rate, No. of Transactions, Average Sales, Profit Margins.
This step is about getting the business to work efficiently. An acronym to remember this by is SYSTEM which stands for Saving Your Self Time, Energy and Money by reinvesting in the business through setting up new systems, utilizing up-to-date equipment, and incorporating innovations. In order to systematize a business, a business should clearly define and fulfill its vision, mission, culture, SMART goals, organization chart, positional contracts, key performance indicators, how-to systems, and management systems.
ActionCOACH will help business owners in building excellent teams by using this four-point cycle. The 1) Owner should be able to create an amazing 2) Team so that they can best deal with 3) Customers, who will then contribute to the growth of the 4) Business. This cycle goes back when the business gives more to the owner. The keys to a winning team are strong leadership, common goal, rules of the game, action plan, support for risk taking, and 100 percent involvement and inclusion.
In a survey conducted during the webinar, over half of business owners said they cannot take a long holiday as they feel their business won’t run well without them. Installing a general manager will put the business on “auto-pilot mode.” It is a state where all the people, systems, and aspects of the business are working harmoniously like a well-oiled machine, even when the business owner is not around.
Once the fifth step is fulfilled, the last step which is Results will finally be achieved. In this step, business owners will find fulfillment in an effective, efficient, and profitable business that can run and be successful even without them. This will allow business owners to have time to focus on their own personal growth, to further grow their business, and/or to build a new business.
ActionCOACH is the world’s largest business coaching firm with over 1,000 coaches in 80 countries coaching 18,000 clients weekly. Get a Free Business Health Check today or attend an ActionCOACH Event.
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Metro Manila 1650, Philippines
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