Many of the world’s most successful businesses have had a clear and concise VISION - i.e. a succinct and inspiring way of explaning what the company is striving to achieve. For example, the Ford Motor Company’s vision is ‘To become the world’s leading consumer company for automotive products and services’ – a clear statement of what the Company is all about.

When Bill Gates and Paul Allen founded the Microsoft Corporation in 1975, they had a simple but powerful vision for the new company: ‘A PC on every desk and in every home.’ In 1999, as the business had moved on, they redefined Microsoft’s vision as ‘Empowering people through great software - any time, any place and on any device.’

Okay, so it may work for giants like Ford and Microsoft, but is it relevant for smaller businesses? What are the benefits of having a clear vision for your business? Can something so simple really make a difference to your future success?

Well, firstly, articulating your vision for the future demands that that you are 100% clear on what you want the business to achieve and this in itself can be an enlightening and liberating experience. Stephen R. Covey says in his book ‘7 Habits of Highly Effective People’ - “To begin with the end in mind means to start with a clear understanding of your destination. It means to know where you’re going so that you better understand where you are now and so that the steps you take are always in the right direction.” The vision provides the guidelines that help you make your daily decisions and set the priorities in your business, so you are always moving towards your goals.

Secondly, clearly articulating your vision also acts to set the internal compass in the brain (called the Reticular Activating System), meaning that you are more likely to become aware of the things which will help you achieve your desired future state. This is sometimes known as the Law of Attraction, which you may well have experienced yourself – once you have identified what it is you need and have focused your mind on it, it often comes along.

Thirdly, a clear vision describes to your team, your customers and your suppliers what your business is all about and where it is going. Being able to share this important information proactively rather than everyone having to second guess will help you build stronger relationships with the right people. For example, your team will be more motivated as they will be able to see how they can contribute to achieving the vision.

How do you create a vision for your business?

The vision for your business should be longer term, inspiring, challenging and believable. You need to start with a vivid picture in your mind of what you want to create or what you want the end result to be. This should be something that excites and motivates you.

Choose a specific time frame, somewhere between 5-20 years out and form a vivid description of your envisioned future, then capture it in words. This should be:

• A clear picture of the desired future that you can actually visualise;
• Inspiring - not expressed solely in numbers;
• Describing your aspirations for the future, not the means used to achieve those desired ends.

For example, the statement ‘To sell 100,000 units per year by 2020’ is not as inspiring as ‘By 2020, to be recognised as the leading distributor of quality units in the South, operating from 5 state-of-the-art showrooms, with the largest range and best customer service in the market.’ Be creative, and give yourself something great to aim for.

The process of creating a vision for your business shouldn’t be rushed and requires some quality time working on the business. It is often coupled with exploring the real purpose or ‘being’ of your organisation and exploring the core values you uphold, so take time out with your team to and make sure you do it right, not just tick the boxes and move on.

Creating the vision is one thing but making it a reality is quite another. Too many vision statements are left hanging in reception and are forgotten about, so to avoid this happening in your business, you need to ensure that:

· Everyone in the business is involved with the creation of the vision statement and therefore buys in to it;

· Your vision is communicated to everyone who interacts internally or externally with the business – especially customers and suppliers;

· You live the vision in your day- to-day operations. You have to take action to make the vision a reality. Behaving as if you are already part of the best business in the market will help you to achieve that vision.

Creating a compelling vision for your business will help you to understand the business you are really in and how you want your future to be – this can be very motivating for you as a business owner and for your team. After all, we all want to be part of something great. Having an impartial ‘outsider’ to facilitate the process for you can help you to ensure you end up with a vision which is truly inspiring and enduring, not solely about beating the competition. Why just be good, when you can be great?

So take action now and create the vision for your perfect future business!

While there are many areas of a business that I coach my clients on, the truth is that they only need a generalist knowledge of most areas. That is because eventually, they will delegate these tasks (sales, marketing, finance etc.) to other team members. However, there is one area of owning a business that cannot and should not be delegated and which the business owner has to master. That area is, of course, leadership.

The first thing to understand is that leadership is not management. Good management is needed in all organisations, but there are clear differences between a great manager and a great leader.

“Managers do things right, while leaders do the right thing.” In other words, managers do things by the book and follow company policy, systems and procedures, while leaders follow their own intuition and make up the rules as they go. Managers tell people what to do, relying on their intellect (IQ) and knowledge of processes to make decisions. A leader relies more on their emotional intelligence (EQ); they focus on stirring people’s heart and spirit, whereas managers focus on influencing their mind and body.

So with these clear differentiations between management and leadership, why are there so few truly great leaders in business today? Well, management is in essence a systematic process, easily teachable using traditional education methods, whereas leadership is a far softer skill and there is no right or wrong. It is thus inherently more difficult to teach and so therefore it is often ignored. This means that there are fewer great leaders and thus even fewer great teachers of leadership. Add to this the fact that most people who start a business leave their previous jobs because of their “idiot boss” – this means that these new business owners have never been truly led, only managed, and probably badly managed at that.

If you are one of the many business owners who do not see themselves as a great leader, or even feel that you didn’t get into business to be a leader, you now know that, like it or not, you have to be the leader of your business. So what steps do you need to take in order to become the best leader you can be?

Well, you have already taken the first step, because that first step is self awareness. Being aware of your own personal strengths and weaknesses and being prepared to seek help to do something about the weaknesses is one of the key attributes of a great leader. The great Jim Rohn said, “Work harder on yourself that you do on your business.” If you are self-aware enough to know you need help, e-mail me and refer to this article and I will send you a FREE leadership book that will help you get started on your journey.

The next step is to understand that the people you are going to be leading are not like you! I know that this sounds obvious, but it is surprising how few people have more than one leadership style. One style will work for a limited period, but the only constant in business is change so this style will not always be effective. As Darwin said, “It is not ‘survival of the fittest,’ it is ‘survival of the most adaptable to change’”.

As mentioned earlier, great leaders have a great understanding of emotional intelligence, which means that they understand what makes themselves and other people tick and are able to change their communication style to match. Now, this is an area that some people are genetically better at than others – for example, it is said that women can read people much better than men. The reality is that we all have the genetic makeup to do this - it is just some people have a better developed skill than others. This is no different to the fact that we can all kick a football, just that some have been practicing since they could walk!

So if we are not as good, how can we improve? Well, the best tools I have come across for this are behavioural profiling and psychometrics , such as DISC, ECi, Meyers Briggs etc. Although people are all unique, they do fall into a few relatively similar groups of behaviour and thus if we can master leading these few groups then we can master leading virtually anybody. The key is that great leaders adapt their leadership style to the people they are leading, rather than force other people to do it their way.

So now you are more self-aware and aware of other people, there is only one other thing that a great leader needs and it is the one thing that cannot be learnt from a book, taught at school or handed down from one person to another. This one thing is the PASSION to achieve something big and without this, all the other skills of leadership are wasted.

You cannot be a great leader with small goals or a little passion. Branson did not become a great leader by opening one record store or buying one plane! If you have a big enough dream and can get enough people to believe in your dream, then anything is possible. This kind of leadership has lead to some truly remarkable events, such as Kennedy putting a man on the moon. The problem is that most business owners think too small, fearful of what they do not have, rather than accepting the one great thing that they do have, which is their passion for what they do.

So find your passion, set some big goals, work harder on yourself than you do on your business and take action to be the best leader you possibly can. Just don’t be surprised that when you do, you will achieve great things!

If you have ambitious plans for your business, we can help. Through the Leadership and Management Advisory Service, business leaders can apply for up to £1000 in funding to develop their leadership and management skills.

EMB is proud to deliver the Service across Central England on behalf of the Skills Funding Agency. Download the application form now, or take a look at our brochure to find out more.

What we offer you

If you are eligible, we will make an appointment for you to meet one of our Advisors. They will help you to identify your personal development needs and decide on the most appropriate learning activities.

Your Advisor will also help you to access up to £1000 in grant funding to help pay for your chosen training solution. This excludes VAT and must be fully matched by your organisation on a pound for pound basis.

How can I use my funding?

You can put your grant towards a wide range of activities to develop your leadership skills. For example, it could contribute towards the cost of a personal business coach, advice to prepare for assessment against the Investors in People standard or training to help you manage your employees.

Key eligibility criteria

This offer is available to private sector businesses or social enterprises with fewer than 250 full time equivalent employees and at least one employee in addition to the senior leader. The recipient must be the MD, Owner or Chief Executive if your business employs fewer than ten people or someone reporting into this person if the company employs 10-249 people.*

How can I refer clients?

EMB cannot accept direct referrals form Training Suppliers / Providers for this programme, but they may forward the application form on to organisations that meet the eligibility criteria. Intermediary organisations such as other business support organisations from both the public and private sector may use the referral form to refer clients based in Central England.

Ian Nicklin of actionCOACH says -saving a wage is killing your business. And, I mean that literally …

I know. I see the accountants saying, you have to run lean to get a decent profit, right?

That’s partly true. It’s also true you need to grow to make profit. You can’t cost cut your way to a fortune.

In business, it seems there are always two sides. For example, if you’re an owner of a retail business, you need to get product on the shelf and also get product off the shelf.

In a service business, you need to deliver the service, and you also need to manage your customer base from the sales and marketing side to build a demand for the service.

So, as an owner, faced with dealing with both sides, which of those areas should you focus on?

If you want your business to be big, you need to focus on getting the business, rather than managing it once it is brought in.

That means you have to get out of doing anything in your business that doesn’t contribute directly to both top-line and bottom-line revenue.

It also means you have to start hiring people to do the things you may be already doing – things that may be more comfortable for you than selling.

And don’t think you can’t afford to start paying those wages. Truth is, you can’t afford not to.

See, many owners hide behind the “managing” side of things, preferring that process to the sales side. They spend hours doing the books or creating spreadsheets or even answering phones in the misguided belief that “busy” equals “business.”

The reality, of course, is that sales equals business, and nothing in business happens until a sale is made. Many owners also have no idea how much their time is actually worth – causing them to engage in tasks or activities that do little or nothing to grow the business.

The way forward is to start delegating routine tasks to wage earners so you can start focusing on the top-line activities that will drive revenues. You need a plan to start, however, because delegation without a system is abdication. And for most owners, there’s simply too much abdication in their companies for anyone’s good.

How do you start? By following these five steps to make sure you are fully engaged on the “bringing in” business side of things at all times in your own company.

1. Know what your time is worth. If you should be worth £100 per hour – why are you doing things that you could pay someone £15 an hour to do?
2. Figure out where you spend your time. You may be surprised how little time you actually spend growing your business.
3. Delegate routine, administrative or basic tasks.
4. Get more training – for yourself. Take an honest assessment of your sales and marketing abilities, and if you need help – go get it.
5. Just do it. Get out and actually start to engage with your customers and potential customers.

There are many examples of people pushing themselves to the extreme – for example, competing in the Paris Dakar Rally, long distance running and even hiking to the North Pole. These types of experiences all require the participants to be amazingly self-motivated to be able to endure the loneliness and hardships that can be a part of such extreme pastimes.

Now, being in business will rarely mean that such levels of physical and mental endurance are needed, but over the years, the ups and downs of business can take their toll on business owners and they may lose the spirit of excitement and enthusiasm that they had when they first set the business up.

Anybody in business will tell you that it is not easy to keep your levels of motivation high, year in, year out, the “ups” of more sales, higher profits, building a great team and helping customers can be easily overcome by the “downs” of lower sales, profits, poor team performance, long hours and customer complaints. It’s very easy to feel that everything is against you when you’ve had a run of bad luck or events outside your control set you back, and picking yourself up and trying again can seem like a real challenge.

As a business coach, one of the things I make my clients aware of is how their attitude impacts on their level of success. In Action, we refer to being ‘Above and Below the line. ‘

Above the line, you are in control of your own destination, below the line you have abdicated your future to other people. It is no good blaming the government, the weather, your team, denying that you have a problem at all or just pretending that it does not matter. The only person that has got you to where you are is YOU and the only person that is going to get you somewhere else is YOU.

Now, whilst this is an easy concept to understand, getting the motivation to actually react in this way when you get setbacks in your business isn’t easy. So what is it that keeps us going when times are tough? Traditional thinking has always been that we do things because of the money, in business it’s about building a successful business making more profit and having spare cash to enjoy life with. We also think that our team members are similarly motivated, they keep asking for more money and if we do not pay them they leave.

Well the reality is actually far from this. Surveys have shown that bosses think that 80% of employees leave because of pay, while less than 20% of employees say this is the case, with the biggest reason being that they hate their boss. The reality with business owners is even more interesting. Roughly 80% of all new business start ups are made by people who are skilled in the activity of business they start and who state that the main reason they wanted their own business was to be in control of their own destiny and give their clients a better service than they could where they used to work. Making money is clearly important but not the main motivation factor for the majority of people starting their businesses.

Also take into account that, whilst some people may not be particularly motivated at work, they may be highly motivated at home, and have hobbies or indulge in sports that require a lot of enthusiasm and self-discipline, such as learning to play instruments, riding motor bikes/horses, running, etc. They do not do these hobbies for money, in fact some pay a considerable amount of money to do them, yet when questioned they are all highly motivated doing these activities.

So if it is not money that motivates us what is it? Well the best answer to this question is found in Daniel Pink’s book - Drive and Timothy Gallways – The Inner Game books. Both look at motivation from a different perspective but both come to roughly the same conclusion, that there are three distinct factors in motivating a person:

1 – Performance towards a clear purpose – we need to know where we are going and how we are doing along the way. Competition plays a big part of this in our personal lives, in business it is goals and targets.

2 – Personal growth and development – we need to feel like we are getting better every time we play the game, if we get stuck at a certain level we soon tire of the game, just ask any golfer why they play the game. If it is our first business everything is new and we are learning all the time.

3 – Having fun and working hard when we want to – we do hobbies and sport because they make us feel good, we can share the experience with others and we chose when we do them. Business should be just the same.

In my experience of working with business, employees and owners lose their motivation not when they do not make enough money, but when they lose sight of these three key factors, they do not know where they are going or why, they are no longer improving their skills and knowledge, they have to work and they have forgotten how to have fun along the way.

So to turn this around, make sure you have clear goals and plans, identify what skills and knowledge you want to gain, bring an element of fun into the day to day routine, create an environment of upbeat and positive like minded people. If you concentrate on these, the money will follow.

So what are you waiting for? Motivate your way to success NOW!!

Like most things in life, with marketing, if you fail to plan, you plan to fail. So it always amazes me when I come across businesses large and small who, when I ask “what is your marketing strategy” they look at me with a blank expression and say, “what’s one of those?”

Just imagine if your business was like a Formula 1 pit crew, how successful do you think you would be? Would you be the team manager, completely in control and calmly orchestrating the events from the safety of the pit wall? Or would you be the one running round, doing every job to make sure it is done properly, getting in everybody else’s way, but feeling good because you are busy helping (and after all, how could the team cope without you?) but with the end result being that the car goes out long after all the others and with only 3 wheels?

There are only 5 reasons…

There are five - and only five - reasons why people STOP BUYING.

4% are gone. They move, get promoted, transferred, divorced, die or whatever. They are simply no longer in a position to make a buying decision.
 
5% change suppliers on the recommendation of a friend or business associate. Stay in touch with them, you may get them back - sometimes quickly.
 
9% change because of a true competitive advantage; an honest benefit offered over your product or service, and usually this means price.
 
14% change because they are unhappy with your service or product. (You’re better off turning a customer away, than selling them something that’s not right for them. This way you build trust and leave the door open to come back when you feel you have something that fills their needs. Selling something that’s totally wrong for the customer can close the door on you forever.)
 
68% of People stop buying from you because of a “PERCEIVED INDIFERENCE” a perceived lack of caring expressed by your company! THEY THINK YOU DON’T CARE.
 
 That’s 68% of customers you never had to lose. They did not think that you cared if they returned and bought off you or not. You had not kept in touch with them or shown them in any way that you valued them as a client or appreciated their business with you.
 
(By the way, resolving a customer complaint quickly and efficiently will save 95% of the customers who complain. Just listening to a customer’s complaint will salvage more than 50% of them!)
 
Sources: From U.S. government study “Why Customers Stop Buying.” Comments by Warren Greshes and Bob Mellon