This action might not be possible to undo. Are you sure you want to continue?
How To Implement a BLUEPRINT For Your BUSINESS SUCCESS
Business Growth Mastery Mornington House, 142 Chorley New Road, Bolton, BL1 4NX Tel - 0208 144 0254 Web - www.businessgrowthmastery.com
BUSINESS GROWTH MASTERY
HOW THIS REPORT IS ORGANISED
We begin with an overview of the Business Growth Mastery Blueprint for Business Success. As we’ll discuss further, the Blueprint is based upon the real life experiences of many successful entrepreneurs and business people just like you. The aim of this report is to provide you with an insight into the tools, techniques and approach taken by successful business owners who have been able to create significant growth in their business. The Second part of the report covers the 8 core areas involved in implementing a Blueprint for your Business Success. Let’s begin.
Thank you for requesting this special report. We hope you will find it both interesting and beneficial in driving growth in your business.
SECTION ONE : Background & Overview
For many business owners, the largest obstacle preventing them from realising significant business growth is Knowing What To Do and maintaining the Motivation necessary to achieve tangible results. It’s not easy and these are the obstacles that all successful entrepreneurs have overcome. Their ability to take action defines their success.
Over the last ten years, we have focused our attention on understanding what makes businesses successful, irrespective of their size, market sector or positioning. What we have found is that there are eight core areas that all successful business owners get right. These form the basis of the BGM Blueprint for Business Success.
“Over the last 8 years, we have been in a constant fight to survive. We would get some success and then wham, something happened to bring us crashing back down. We had tried many things, took advice from our bankers, accountants and local ‘business advisers’ but nothing worked as well as the BGM Blueprint for Business Success. It has definitely become my Blueprint” Nat Cooper - Partner, PR/ Event Management Firm
The Business Growth Mastery (BGM) Blueprint for Business Success has been developed in conjunction with many successful entrepreneurs and business owners. Collectively, they have over 150 years business experience and have started, bought, built up and sold many business in all sectors. What we found when we analysed what they actually did to build up their businesses, and in one case, this resulted in taking a £10m business to over £750m within 6 years, was that they all followed a very straightforward, practical and highly effective methodology. This methodology wasn’t something that they had been taught, nor was it something that they had read. It was something that they had developed themselves after trying different approaches and observing the results. When things worked out right, they would repeat and improve. When the results were not what they wanted, they would try something else. Ultimately, they developed a methodology that worked for them. However, we found that there were common themes within these methodologies and these became the basis of the BGM Blueprint for Business Success.
THE BGM BLUEPRINT FOR BUSINESS SUCCESS
On a simplistic level, building a growth business is not difficult, in fact it is pretty straight-forward. The Blueprint for Business Success focuses on: 1. Understanding what you want, why you want it and setting you and your business up for success. 2. Identifying the critical elements of your business and implementing some straight-forward evaluation processes 3. Getting the most from your assets and motivating your team 4. Moving along a sequence of steps to the point where you can realise your personal and business objectives Although the goal of the Blueprint is to help you achieve your own definition of success, one thing that you will get out of this process is a far greater understanding of what is important to you and a much clearer view of the results of your inputs. The BGM Blueprint for Business Success has been adopted by both large and small organisations specialising in such fields as;
THE MOST EFFECTIVE METHOD OF CREATING BUSINESS GROWTH
It is true of virtually anything - the way to get successful at something is to identify someone who is successful and copy what they do! However, this is sometimes easier said than done. Do you know anybody who is successful in your field? Do you know anybody who has created significant business growth? In many instances, the answer to these questions will be two fold. Either, ‘no’ you don’t know anyone personally who you can call upon to ‘mentor’ you through similar growth within your business, or ‘yes’ I possibly do know someone but they’re far to busy to be able to help me. Either way, you don’t have access to the experiences that will help you to find the shortcuts to success. Well, we do and we’re here to help you. Treat Business Growth Mastery as your personal mentor. Use the information provided in this report, on the website and through our many other support services to implement major change within your business. You’ll be amazed at the impact!
Remember that many business just survive and only survive because their owners risk everything personally and spend the majority of their lives supporting it. Is this what you want? I guess not, given that you are reading this report. You have found a source of information that will help you become one of the top 10% of business owners. Within this 10% are people who succeed without being ‘seen’ trying - I’m sure that you have seen them - they’re the people that seem to have it all but never seem to be busy or stressed. Have you ever wondered how they achieve this? I have and went out to find out. This report is the first stage of building your knowledge of how these people achieve this state.
If you are interested about learning more about implementing The Blueprint for Business Success into your organisation, your find our Business Growth Mastery Programme enormously valuable. You will find out more about the Programme at http://www.businessgrowthMaste ry.com/business_growth_maste ry_programme.html
• • • • • • • • • • • • • • • • •
Accounting Business Services Communications and Media Construction Energy Engineering Financial Services Food Preparation Hospitality Information Technology Law Manufacturing Recruitment Retail Sports Training and Support and many others
SECTION TWO : The Blueprint for Business Success
or will you end up being sucked back into the business and allow it to subsume your personal life. Now is the time to consider the impact of future growth and review what you desire for your life. Ask yourself these 10 questions...
For many, these ten questions will be the springboard for many changes in their life. They realise that the activities that they have been undertaking will not deliver the lifestyle that they desire.
STEP TWO 1. what do you want your life to be like in 1,3,5 years time? 2. what are you prepared to commit to, to ensure that you achieve this life? 3. what will the business need to deliver for you to achieve this? 4. what will be the impact on your personal life in driving the business towards this level? 5. are you prepared to accept this impact? 6. are your family prepared to support you? 7. what do you anticipate to be your biggest challenges? 8. are you confident that these challenges can be overcome? 9. why are you prepared to do this and go through this process? 10.how can you ensure that you enjoy the process? The answers that you find to these questions will help you to start to align your personal and business objectives. Aligning your objectives at this stage will save you a lot of time and heartache as you move forward. Knowing what you want and why you want it is critical. This provides the signposts to move towards in all your future activity.
Now that you have the clarity of what you want your life to look like both personally and professionally, the question is what do you need to do in order to achieve your objectives? No one really can argue for the need to have a plan. However, in reality many people don't have one - do you? If you do, is it the right one? The consequences of inadequate business planning are many. The most important being if you do not have a plan of how you will move towards your objectives, how do you think that you will ever get there your objectives will be simple pipedreams? The key elements of a good business plan include setting objectives for the business, identifying what needs to be done to achieve these objectives and measuring progress regularly - more about that in Step Three! So, answer these 10 questions... 1. what valuation do you need the business to have to achieve your objectives? 2. what level of profitability will you require to achieve this valuation? 3. what degree of turnover will you
There are eight steps to our Blueprint for Business Success. If you focus on these, it is relatively straightforward to build a business that will grow and prosper in all market conditions.
- Aligning your personal and business objectives
What are the consequences to you of blurring business and personal goals? There are two ways of looking at this question. Firstly, if the business is a roaring success, how can you ensure that you achieve your personal goals? The alternative is if the business fails, how can you ensure that you limit your personal exposure? Where are you now? Is your business delivering the lifestyle that you desire? Will it continue to do so as the business grows? Can you cope with the future growth
require to achieve this level of profitability? 4. how can you grow your sales to this level? 5. how can you manage your costs? 6. how will you manage the growth? 7. what do you foresee as the major challenges in achieving this growth? 8. how confident are you that you can overcome these challenges? 9. how can you shortcut the process to achieve this growth? 10.what are the key milestones along the way?
Take a look at your business. What information do you create on a daily basis? What data do you have available to you that with some analysis can help you to measure your progress? Look at it another way... what information would you like to have available so that you can see how well you are progressing with your plan? Your immediate response to these questions, and you would certainly not be alone in this thinking is that you have no real information available and you don't know what information is required. If you are thinking like this, it is good that you are going through this programme! The consequences of not having reliable management information are clear - the business will not perform to its potential! On the basis that you can't manage what you can't measure, you will continue to under-perform if you do not have a clear set of key performance indicators (KPIs ) that you can measure on an ongoing basis. So what should your KPIs be?
activity levels required to deliver your increased sales become your KPIs - measure and manage these activities and the sales should result. So, here is your homework... For each of your critical areas, be that sales, cost, margin etc, identify... 1. the type and source of information required to measure performance - remember to look at the information sources available to you - sales records/ accounting records/ purchase records/ orders/ returns/ stock analysis etc 2. the activity levels required to achieve your milestones - these become your KPIs This activity alone will significantly change your focus within the business and allow you to work 'on' the business as well as working 'in' the business. Manage the results of this analysis on a regular basis and you will transform your business performance. Why is this the case? Well, simply because you are managing the inputs rather than just the outputs. Alternatively, you now know what needs to be done each and every day to get you to your objectives - make sure that they are done and you will get there.
Some of these questions will be difficult for you to answer. Some will require some thinking about. Some will raise more questions. With some you will have to hazard a guess. Remember there are no right or wrong answers. It is your best guess that matters because this will provide you with more impetus to move towards your objectives.
STEP THREE the right MI
What MI (Management Information) do you need? Go back to Step Two and look at the answers that you came up with - these are the key areas that you need effective MI to cover. Your KPIs should focus upon the activities required to achieve each of the key milestones. So for instance; If your objective is to grow your sales from £5m to £7.5m in 12 months, how many additional sales are required over the 12 month period? How many additional sales are required on a monthly basis. If you have a success ratio of 2 sales presentations to 1 sale, how many additional sales presentations do you need to undertake each month? Once you start to look at this, the
In Step Two, we looked at what needed to be done for you to achieve your 'aligned' business and personal objectives - you developed a plan of action hopefully. In Step Three, we are going to look at how you can ensure that you are progressing with your plan on a day by day, week by week and month by month basis. We will also look to identify key information that will allow you to make more informed decisions. The lack of reliable and timely management information creates many problems for many SMEs. This needn't be the case.
STEP FOUR -
Getting Your Management Team Right
proceed towards your vision? Think about the following 4 questions.. 1. What is your management structure now? 2. What will it need to be in 6 months/ 1 year/ 3 years? 3. What type of person(s) is required to blend with your existing structure? 4. How will you work together towards a common vision? Take some time to really consider what you need. Where are your weaknesses? Can you identify people who will bring strengths in these areas of weakness?
In Step Four, we will focus upon
Without them, you don't have a business; you have an idea of a business. You can have the best premises, the best products, the most efficient processes, the cheapest prices. However, without your team, all of this is meaningless. When considering this crucial area, it is worth thinking about this... Just because people work for the same business, doesn't mean that they work as a team. The consequences of getting this wrong are dire. On the one hand, your business will not perform and could fail as a direct result of getting this area wrong. On the other, you could face major losses from either fraud, absenteeism, or from a claim made to an employment tribunal. So how are your team now? Ask yourself these four questions... 1. Do your team respect each other?
your management team. My management team, I hear some of you say.... What management team! In most small businesses, the owner manager wears many hats but even the most experienced person cannot be a master of all areas of business. As your business grows, your time will become more precious and your challenge will be handover responsibility for critical parts of your business to your management team. You may have already started to do this. It isn't easy, is it? However, I trust that you agree with me, that a strong business needs to have all functional areas working well. Undoubtedly you need to have the right vision, the right organisational structure, you need to create the right culture (more about that in Step Five), you need good products, delivered well, you need effective marketing and sales resources, you need the right systems and processes working efficiently. Are you capable of getting all of these areas right? If you think that you are, think again! You may be able to manage now, but what happens when you double in size? So, what will your management team requirements be as you
2. Do you communicate openly with them? 3. Do they pull together when times are tough or do they start to bicker? 4. Are they performing to their potential? 1 Creating a winning environment will help drive your business performance. It will also help you to attract the best recruits. 2 3 So what does a winning environment look like? Successful teams share common traits... 1. they have a clarity of vision and this is shared across the team 2. they know what is expected of them and what they can expect in return 3. there is an openness to discuss ideas but equally a determination to achieve once a decision has been made 4. there is structure around performance management, appraisals and training/development. 5. successes are acknowledged and celebrated
Your Team, Your Greatest Asset
In Step Five, we're looking at your greatest asset - your team. By the way, they are also your greatest liability! So it is doubly important that you get this right. The team within your business are your business! They are the people that your customers see/ hear from. They are the people that you suppliers deal with. They are the people that we all spend a large amount of our day with.
STEP FIVE -
6. there are regular briefings and communication of progress 7. they feel valued and a core element to the business How does your business compare in these seven areas? Focus on these areas within your business and your performance will sky-rocket!
in the future. You can choose to share the profits with your management team or the team as a whole. Even for those individuals where profit maximisation is not their number one objective, they realise that to sustain a business in the long term, profits are a prerequisite. Having said all of this, for many business owners, profitability is a pipe-dream. Not to say that they are making losses, rather they do not get an acceptable return for their time worked or capital invested in the business. In many instances, if a commercial wage and risk adjusted return on capital invested were computed, many SMEs would not be profitable! Which camp do you fall into?
I keep saying that each Step is critical - that it is the most important part of all business success. However, if you only take one area seriously, it has to be this Step Cash! Cashflow is the life blood of all businesses and without it a business simply grinds to a halt. Although it is so vital, many businesses don't really have a plan for effective cash management - they are either too busy focusing on other areas of the business or worse still remain ignorant to its importance. A lack of cash creates several undesirable consequences - it will stump growth, it may affect a company's reputation, if they are constantly being chased over unpaid bills and in extreme situations, it can lead to insolvency of the business. However there are many simple ways to ensure that you have sufficient cash to manage the business today whilst creating reserves to fund the future growth of your business. One of the first things that you will need to do is to develop a structured cashflow management process, one which is aligned to your growth plans. This sounds complex but is simply a way to review on a daily/ weekly/ monthly basis the cash coming into the business, the cash going out and the resultant balance.
- Driving Profitability
It doesn't matter to me when you undertake this work - the important thing is that you undertake the activities. It amazes me when I hear that in over 90% of cases, people who buy books/ go to seminars/ undertake development programmes etc never apply the knowledge. In fact many books go completely unread! Where's the sense in that? You're not like that are you? You are determined to achieve your objectives, aren't you? In Step Six, we are talking about what all business should be about - profitability. One of the benefits of a privately owned business is the flexibility that the owner managers have in relation to profitability. You can choose to withdraw the profits to fund your lifestyle. You can reinvest these profits for even greater rewards
So, whether you are in the camp that is making significant profits or you are presently not making a sufficient return, we are always interested in maximising profits, aren't we? The big question is how! Consider these 5 questions and see how you can apply them to your business. 1. what can you do to increase your number of customers? 2. what can you do to increase the volume of sales? 3. how can you reduce your costs? 4. what can you do to improve margins? 5. how can you increase the frequency of sales? Answer these questions and apply your answers and your profits will increase - they have to because you are tweaking the key elements that make up your profitability.
If you have more going out than in, it is obvious that you eventually run out of cash. In these situations you need to consider ways to pull more cash in and reduce the outgoings. These 6 questions might help you to consider ways of achieving this in your business. 1. can you reduce the number of days credit that you allow your customers? - reducing from 30 days to 14 days will generate significant cashflow benefits 2. can you increase the number of days credit that you take from your suppliers? - if you have 30 days terms, pay on day 30. 3. what benefit would you expect if you were to call your customers a week before their invoices were due to confirm payment will be made? 4. what options do you have to raise additional cash? 5. have you thought about raising cash from the value of your invoices? 6. how can you maximise your stock turn? Our 8 week programme will help you to understand this in greater detail. It will help you to develop relevant KPIs around liquidity to tell you what is happening before it happens. Effectively, it will provide you with an early warning signal for cash management.
need to recast your goals and structure your objectives for the next phase of life. However, there is plenty of time for that as you progress towards the day that you exit. What is more critical for you now is to have a clear understanding of how you plan to exit, because you will need take decisions as you proceed that will need to be geared towards a specific option. Succession is a complicated process and many things can go wrong. You might not be able to sell, it may take too long to sell, you may not get the price you need, there may be tax issues that need resolution, buyers may want warranties that expose you, they may want you to continue within the business. All of these issues could derail the best laid plans for the future. However, by taking a longer term view, you can take actions now to prevent the likelihood of these events occurring. There are seven key steps to successful succession; 1. insure key staff against death or long-term illness 2. plan at least three years ahead of a major change in management 3. groom the next generation of management with mentoring, training & job rotation 4. delegate operational responsibility and share your knowledge to reduce your personal value to the business 5. provide incentives to retain key staff within the business 6. develop an effective tax plan to maximise your profit 7. keep refining the plan From this list, what are the key actions that you need to take now? Think about it and develop an action plan.
Remember to fail to plan is the plan of failure - in the case of succession, a lack of a cohesive plan can have a massive impact on the price that you get. Don't lose out because of a failure to prepare.
“Building my business always seemed an uphill struggle until I came across the Business Growth Mastery Programme. By applying their Blueprint for Business Success, I’m now able to take massive steps towards my ultimate objective.” Julian Richardson IFA Practice
STEP EIGHT ing Your Return
There are many things to consider, not least what are you going to do to fill the void created by not working in the business each and every day. You
Tony, Thanks for the helpful tips and tools provided. The support that I have received has resulted in my business growing by some 350% over the last 18 months. Forecasts for the next 12 month are equally impressive. All this and I’m able to spend more time with my family. I feel less stressed than I used to, more energised and in far greater control of my destiny. A great programme! Neil Waterhouse Retailer
CONCLUDING THOUGHTS AND NEXT STEPS
Running a business, whatever the size can be a lonely existence. Who can you turn to when you need to discuss some sensitive issue? Who can you open up to when you need to release the pressure? For many, the answer is their loved ones and this has an impact on their relationships. All of the successful entrepreneurs that have assisted in the development of this programme have very strong relationships with their nearest and dearest. They have worked out how to relax and let the business flow. This Free Report is intended to provide you with an insight into how they have achieved this. I trust that you have found the report informative and insightful in places. We’d like to continue our relationship with you further and really work with you to realise your growth ambitions. There are a number of ways that we can achieve this. I’d strongly recommend that you take our eight week Business Growth Mastery Programme, where we lead you through a series of weekly activities designed to implement the Blueprint for Business Success into your business. The value of this programme is limitless - only you can tell how the principles covered will impact on you. The programme comes with a full, no quibble money back guarantee so sign up right now at ;
Remember, “We reap the benefits of what we actually do, not what we plan on doing someday when we’re not so busy” If you are serious about creating growth within your business, we suggest that you contact you to discuss how we can assist you quicklu, easily and inexpensively to implement the Blueprint for Business Growth into your business. Thank you for your interest in our work and I wish to well for the future. Kind Regards
This action might not be possible to undo. Are you sure you want to continue?
We've moved you to where you read on your other device.
Get the full title to continue reading from where you left off, or restart the preview.