Visit Young Entrepreneur Society

Kamis, 29 Juli 2010

How Do I Find Qualified Employees in my Industry?

Experiencing business that grows fast sometimes can give negative impacts to a business. Few of the impacts come from insufficient cash due to poor cash flow planning and the others is due to lack of supply in having enough qualified employees in your business. At the moment , I want to discuss on how fo find good supplies of qualified prospects of employees for your business.

One of the answer is by having a good target marketing plan in finding these people. The steps to do this is you need to answers each of these questions:

· Who is your ideal target market for your qualified employees? You can start with its demographics and psychographic. Demographics: what age are they? What sex are they? Male or female?what education they have?Psychographic questions would be: what school do they go to? Whats their school GPA? What association they belong to? Basically just go deep with the questions oh his or her lifestyle that are align with what you want to attract.

· Where are they located? Once you identify your ideal prospects, the next question is finding out where they are located as a group and market to that group. This can be association they belong to, magazines that they read, networking events or college career department where they congregate as a group.

· What is it that you want to offer? You need to know what problems do they want to solve? That way you can specifically design your offer that fits with what they want. Answering 3 areas of whats your company ultimate advantage compare to others, what sensational offer you can give and what powerful promise you can say and deliver are very important process for you to develop the right offer to attract qualified employees.

· Why they should choose you over your competitors? What guarantees can you give to them? How is your credibility and leadership ability. The more you clear about this the more you can position yourself in the market?

· How can you market your message so that you attract qualified prospective employees?

Again this is your Employee Acqusition Plan. Basically, you need to find your qualified prospects as a group and market to them. In Kingdom Business Coach, we can help you how to specifically design your Acquisition plan for marketing , choosing the right media and developing effective copywriting and scripts to attract them.

For more free business tips and tools to grow your business, click www.kingdombizcoach.com and get yourself a free Complimentary Coaching Session valued at $250 per session.

Rabu, 21 Juli 2010

How Can I Get Out of my Business?

Often times in my experience in coaching business owners, this question came up? Many reasons triggered this question. Some of that reasons are: lost of passions, tired of running the business, wanted to cash in on the business, wanted to have another business, etc. Regardless, many business owners have difficulty in preparing their business to be sold. See, to sell that must have to be a buyer of that business, if the business is not attractive enough in providing good Return Of Invenstment. The chance of selling that business is slim

Selling the business, in terms of the lumpsum profit , it is always bigger than that of running it. That is why , may of the successfull business int the world are up for sale. The type of sale can be by going public, Initial Public Offering (IPO), it can be by franchising and licencing some of it. So it does not always have to be selling 100% of the business. But, still the question remain, how can I make my business more attractive for the sale.

In Kingdom Business Coach, we use your “5 Steps to Business Freedom” model to set up your business to be attractive for the sale. What we do is we will set you a Comprehensive Exit Strategy. What are the steps that need to be taken within the Comprehensive Exit Strategy? They are:

  • The first plan that needs to be done is to find out the current value of your business. Using our 5 Steps business model, we will walk you step by step to identify your current value of your business.
  • Once we identify your value, we will help you to identify areas as well as working on areas on how to improve the value of your business so that by the time you sell your business, you will get paid by the best price that you are happy to receive.
  • While doing that, within that process, we will develop marketing strategy to identify your internal and external prospective buyers to get the best price for your business.

See, our business model has been proven in helping 7000 business owners in Europe and United States and now is ready to transform Asian business owners. Unlike consultants, Kingdom Business Coach will walk you into the 5 process in achieving your outcome by: 1. Clarifying your direction, 2. Strategize your actions, 3. Upgrading your skills, 4. Optimize your environment, and 5. Mastering your psychology for success. Give Kingdom Business Coach a call NOW or you can start getting your effective free business tools at www.kingdombizcoach.com

Selasa, 20 Juli 2010

How Can I Be More Congruent in Executing my Plan?

In the last 4-5 years coaching many business owners, one symptom that I see business owners losing control of their business is that they are overwhelmed with work, so that they cannot do what they are suppose to do.

In order to help them, I usually need to discuss and educate them on what is going in in their business and show them what impact they are going to get if they let this continue. The reason why this happen is because the business owner is trying to do everything to run their business. To be simple, they are 4 components in the busines to work: the business owner, the team or staff in that business, the customers, and the business itself (admin, finance, etc).

In the beginning, the owner hire staff to help them in running the business, but usually what happen is the owner has to keep supervising and micromanage the team work, so instead of paying the team to do the work for him or her, the opposite happen, you are working for the team and you pay them. Same thing with the customers and business. The customers are usualy want to deal with the owner to get the best service and price, the customers dictate what happen in the business so that the owner’s team is not working. This business has turned into a job, where the owner cannot leave the business because it has to deal with its customers all the time. In addition, the owner still needs to check on what is going on with business current operation, admn, finance, etc.

So how can one stop this madness? If you read my article,”How to Systemize my Business?”, I laid out the whole plan for you to deal with this problem. In this article, I will try to elaborate on how to set a plan for you so that the rest you can delegate them.

The answer is Good Time Management Plan. The goal is to turn the scenario above into a new scenario where the owner will train the team so that the team can take care customers. From here, the customers are happy with the team’s work and give business , sales and profits to its owner.

In Kingdom Business Coach we will help you on how to create a good Time Management Plan. You need to identify all your routine tasks and use the 4 D formula: Do it, Delegate it, Delay it or D?ump it. After you list your routine tasks, you need to ask questions on these tasks, which ones that I can do it within 10 minutes, which ones that I need to delegate to others, which ones that I need to delay it for later time, and which ones that I just need to dump it.

From here you set your default calendar to plan your time in advanced to execute your plan, and you need to have an accountability partner to make sure that you do them. Some of the accountability partner can be your personal assistant, some can be your fitness coach, come can be your Kingdom Business Coach for your business matters.

This way you have a good starting point to move your business from chaos to control. If you would like to start to change the way you do business and transform yourself and your business to the next level, contact your Business Coach at www.kingdombizcoach.com NOW. We guarantee you get results !

Sabtu, 10 Juli 2010

How Can I Get My Employees to Have Concern For My Business?

Often times this issue is one of the biggest issue that many business owners are suffering in the world. Even there is a joke that stated that “ Your employees are always enthusiastic except from 9am to 5 pm when they are working with you.” The problem usually starts is because many businesses are only focus on the experience and skills that the employees can bring on the table. The fact is there are many skillwise qualified emplyees. There are everywhere, but many of them do not have any loyalty and oftem times they jump from once job to the other. This behaviour, has caused many troubles to business owners, which is why many of them dont trust their people to run their business for them and that they would micro manage their work and watch over their work at all times.

To tackle this problem, there are few things that the business owners need to do:

· First is that they need to transform themselves from business owners into business leaders. That means they need to improve their leadership abilities. To do this, they will have to put many effort in studying and reading about leadership from proven books and gurus. They probably have to take seminars and courses to improve this. In addition, they will have to hire a good Business Coach to help them transforming themselves. A good Coach will help them to clarify their leadership direction, strategize their action to improve their leadership and hold them accountable so that these business owners achieve their goal. As they go along, they will also learn how to coach their team which will make them a better leader.

· Second, business owners will need to put recuitment system and internal training to create cohesiveness, competencies and developing ownership within themselves and within the company. To trigger this, it is usually important for the business leader to step up and set up what is their company vision (outcome), company’s mission (their how to) and the company’s commitments (the core values that will binds them together and produce consistent work quality). These vision, mission and commitments need to be transform into a living documents where every weekly meeting, the business leader need to hold their team accountable of these commitments.

· Third, the business leader need to create Good Performance Incentive Plan for their team members. Incentive package for your team members need to motivate them to work as hard in the business as you do and care about it like it was their own.

· Business Leader need to hire himself of herself a good business coach. The business coach will help them not just as fresh eyes (outsider) that will bridge and align the outcome of the leader and his or her team, but also will push them to take ownership and hold them accountable of their actions. In addition, the business coach will be able to transform their coaching ability to the business leaders so they themselves will become good coaches.

There you have it, four beginning points of what needs to be done to develop your team ownership within the company. To manifest this quickly, hire yourself your Kingdom Business Coaches to achieve your outcome. Please check our services to help you at kingdombizcoach.com

How Can I Have More Time and Delegate More in My Business?

Doing every thing by himself or herself is one of the main problem that many small business owners face. The dillemma started usually when the business owners were used to be a specialist employee that was working in a company. Michael Gerber, small business Guru, the author of E-Myth, wrote that many of these people felt that they contributed much to the profit of their previous companies that they worked.

Because of this, they think that if they just leave the company and make similar business themselves, they can be successful entrepreneur, but in reality is the opposite. According to Gerber, many of this employee is usually a technician. They are paid to be a technician in taking care one particular part of the overall business. According to his research, successful entrepreneur needs to be 3 things at once to be successful: technician, visionary and manager.

The challenge is to have the overall knowledge and to effectively delegate these tasks to someone else to make your business work. According to Roger Hamilton, XL Entrepreneurs Network Founder and Phd from Cambridge University, wealth comes from the multiplication of value and leverge (wealth=value x leverage). The Leverage here is the muliplier effect that will help the overall business, which is part of it is delegation.

So the question is what are the steps that I need to do to have more time in my business and delegate more so that i can work on more important work:

· Create Apprentice Plan; Plan to identify the low-value tasks that you don’t like doing anyway and train team members to do them for you so you can focus on the things that make you money.

· Create an organizational chart by job functions, then list your routine tasks for each department. Hire someone else to do those work, use technology to do it or it if its your weaknesses, outsource them.

· Calculate your hourly rate. Find out your income per month, find out how many hours you work in a month, then divide the two. You know your hourly rate. Are you happy with that rate. If not, what parts of more productive work you should focus to increase your hourly rate? Who can you delegate the rest? Do you have system to create consistency on your work.

· Hire Kingdom Business Coach to help you with all of this.

That’s the overall context on where you should start your delegatation process and take back your time. With Kingdom Business Coach, we have proven business model that have helped 7000 business around the world, we can help you so call us at Kingdom Business Coach (kingdombizcoach.com).

How Do I get More Sales and Escape Price Competition?

The most common problem that I have always encounter when working as a business coach are two questions; how can I get more sales? And the other is: how can I escape price competition? These two are critical fundamental questions that any business owners always want to get the answers and get control of.

The problem with these two questions is that everyone has these questions and that the trick is to investigate on whether we need to ask a better questions to get insights to dominate your industry and your competition. One of the Expert Small Business Guru, Michael Gerber, was the pioneer that dispels the Entrepreneur Myth that many business owners fail in their business in the next 5 years. After having success helping business owners, many of them got stuck again and that cannot increase their sales and escape price competition. So, what Gerber did was starting something new that was called the Dreaming Room. He asked entrepreneurs and business owners to escape their routines and redream their business on how they can transform the market and their industry.

To help you starting your quest in answering those two questions, lets transform your business, here is how:

· You need to create your USP (Unique Selling Proposition) and Guarantee so that your ideal clients are compelled to do business with your compare to that of your competitors.

· Look for Problems, what are the problems in your industry that your competitors cannot solve and that you can solve, so that you get the upper hand.

· Improve exisiting solutions. What are the existing solutions that exist in the market that you can improve a lot better so that you can dominate the market?

· Look at the trends. How well do you know your business and industry? What is the next hot trends that you can capitalize so that you get your USP and can guarantee results?

· Hire your Kingdom Business Coach to help you with this because we have the tools for you to use to create your personal USP and Guarantee to dominate the market.

There you have it, 5 easy points for you to start building your USP and Guarantee. You can get results fast and get more sales immediately once you hire Kingdom Business Coach to help you achieve breakthrough results.

Rabu, 07 Juli 2010

How Do I Get Good People in My Business?

Moving along with the last article on creating system, another big problem that I usually hear from business owners is that they cannot find good people to run and grow their business. From my experience in working as an employee, when I was a university student and working as a business coach, I could recall that all the best people are hired by the best companies and leaders. What do I mean by this. One famous Business Coach on the Internet as well as millionaire once said that ,” You get the people you deserved.”

It’s rather harsh to hear that, but sadly thats the truth. I remember when I was trying to get into university, I only wanted to get in to the top 10 best universities in the US. What I did to get into that was that I had to study hard and get good grades. When I was in college trying to get a job in a company, the same thing happened again, I need to prepare myself to follow the requrements of companies that have best reputation in the field. What does this have something to do with you?

The answer is a question, what have you done to yourself to build your credibility and reputation in your line of business? If you don’t do that, how do you expect to attract good qualified employees to work with you. Its all about Win Win. If you want to win in getting the best employees, they also want to win and getting the best benefits in your company (money, career, knowledge, network, reputation, status, etc).

So what can you do now to get the best employees:

· Using the concept of Be Do Have, which equals to Thoughts Action and Results, Who do you need to Be in order to Do things that need to be done to achieve the Results that you want? Do you have that? If you don’t, you better to start writing it down on your notebook and start working in getting your new Being, and new Doing.

· From the results above, start using what you wrote down about those qualities on your advertisement to work so that you can start a good recruitment system to attract good qualified prospects to work as your employees.

· Start using Psychometric Profiling Process tools in your recruitment system so you can test-drive process to screen out non-performers before they join your team and make sure you’re getting people that will deliver results.

· Hire a Business Coach to help you with the above process as well as developing good systems to support your human resources needs.

There you have it, those are the beginning steps in acquiring good employees to help you run your business and growing it. For further help, don’t forget to hire your Business Coach NOW by calling 62 21 458740880 or by emailing us to set your appontment to meet for your FREE Complimentary Coaching Session.

How to Systemize my Business?

One of the biggest problem why business owner cannot truly own a business, it is because they treat their business like a job. What I meant by that is that if they stop working, the business is also stops producing.

One reason why this happen, according to my experience in coaching small businesses for the last 4 years, is because they really believe that nobody in the company can really do the job as good as him or her. This mentality takes most of the business owners time to take care of their team mistakes, as wel l as their customers, and their business. If you remember Robert Kiyosak’s 4 quadrants of employees, self employed ,business owners and investors, many business owners are self employed. They do most of their job themselves. This situation creates no leverage so that their so called business will never become business because it only works when they are in the business.

The key to escape this is to shift the business owners to work on the business, like preparing strategies and impelementing system so that the business can be profitable and work without them working in it doing the routines.

These are the steps that you can do to start leveraging your business by creating systems:

· Identifying routine tasks that needs to be done yearly, monthly, weekly and daily.

· Plotting these tasks on which ones have high and low enjoyment and skills.

· Start writing system/step by step how to manual for tasks that are low in skills and enjoyment.

· Slowly work your way up in writing your system to delegate tasks that need higher skills and higher enjoyment.

· Have a good recruitment and training systems to make sure that your systems can be implemented and have key performance indicators to measure the work.

· Have clarity on your organizational chart so you know the job functions of each department, its key performance indicators (KPIs) and hire capable persons in charge on each department (PIC).

· Research some latest technology that can help you systemize your business.

· Hire a Business Coach to help you set the system up and help you implement it.

There you have it, by chunking down the process of you doing the jobs and writing it down, you start to have documented and repeatable work that can be easily teached to other staff in your business to do the work as good or even better than you. Enjoy your day and dont forget to hire a Business Coach.