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Issue 10, April 09 www.impact-corporate.co.uk

"Developing Business Excellence"

Hi {~Firstname~},

In this edition:

  1. Introduction
  2. Tip Bitz
  3. Feature: How Big is Your... Database?
  4. A Treat For You
  5. Breaking the Voodoo
  6. Offers
  7. Subscribe/Unsubscribe information

Introduction
Welcome back to Biz Tips and more useful information tips and anecdotes for the world of small business.

Alistair Darling's latest forecast tells us the economy is going to shrink by 3.5% this year. A return to growth is forecast next year of 1.25%, an opinion not shared by the majority of economists.

However much can be done to improve the position of individuals and businesses, by improved strategic planning – read on to find out more.

Your feedback is valued and if there are items or subjects that you would like more information on please call and let us know.

Biztips is completely complimentary and I hope you find the content here both useful and informative. If you haven't already done so then please subscribe and feel free to send it to a business colleague, friend, client or even supplier, by using the link here or in the right hand margin


Tip Bitz

More UK and global business news -

  • In a global context Britain’s debt is not exceptionally high - the projections of the United States are for federal debt to reach 70% of GDP by 2011.
  • Japans could well exceed 200%.
  • From April 2010 a 50% income tax rate for those earning more than £150,000 a year will be introduced.
  • The Chancellor announced corporation tax rates for small companies will increase from 21% to 22% in 2010/11.
  • The introduction of temporary 40% first year allowance and an extension of help for loss making companies was also announced.

For more information on what else you need to know about what affects your business, call Impact today. Know what you need to know, now!


Feature: How Big is Your... Database?

I find it amazing that so many businesses have such a small database of clients with which they expect both miracles (hitting turnover targets) and loyalty (enormous repeat sales from the same customers). Now of course repeat sales to existing customers are your easiest and most reliable source of sales. However, all too often there is little or no investment in a database of prospects (potential customers) and even less liklihood of a professional system or management thereof.

How do businesses like this manage to flourish in a normal trading environment? Well, most often they don't and I dread to think of how many will have perished in the last six months given the ongoing shrinkage in the marketplace.

If you are amongst the substantial numbers yet to get organized in this area, consider investing in a professional database tool such as ACT by Sage or similar. Relationship management - it's the way forward to ongoing sales and business success. If you want some tips in terms of developing those relationships either call or email me at the office.


A Treat For You

We find ourselves in a less than sticky situation: we’re reaching into the sweetie jar for a much needed treat, and realise there’s nothing in there.

The current climate is somewhat similar: not much is left in the pot to delve into when we need it.

We’ve heard various statements about the current economic situation, so here’s a message with a different tone: see if this sounds like something you can take advantage of.

Whilst striving for some sort of solidity in an unstable climate, knowing where to step can be tricky. Let’s make it easy then. There are, after all, only two paths to choose from:

  • You can edge along slowly without direction, to likely fall foul of various obstacles and dangers between here and somewhere out there in the mist…
  • Or, you could choose the simple, safer way - decide where you want to be, and strategically plan your journey there.

We all know that having a map makes for a much easier road: leading you most efficiently towards a chosen point. Having a document you can consult whenever necessary, to remind you of your ultimate destination and also of your method for getting there, will increase your motivation and probability of reaching your objectives.

By utilising an effective planning resource, you can:

  • Relinquish time you would have spent correcting costly mistakes caused by un-resourceful actions;
  • Know your choices when you need to make definitive decisions accurately;
  • Plan for the less easy parts of your route;
  • Make sure you are working towards your ultimate goal in the most economical way possible;

And the list continues...

So that’s some of the obvious benefits you can receive by having a plan. What else can you receive when you’ve decided this is the best course of action for you?

Remember those sweets in the jar? There are some worthwhile treats to be had when you’ve prepared well and reached a position that allows you to enjoy the fruits of your labour.

How does having more money sound to you? Effective strategic planning allows you to develop an ever increasing level of inspiration, efficiency and profitability. Also, you will have planned for any unexpected occurrences and you will have an increased awareness of the movements of your money. Which means you will be in a position of greater choice when it comes to enjoying it!

Also, think of all the extra time you could have because of better planning: time with the family, or to achieve those aspirations outside of your work life. Also, wouldn’t an increased level of health and happiness be a pleasure?

Rather than ploughing all of your time into work, leaving little for everything else, you would be able to devote more time to all areas of your life. Great!

So, we know that there are significant benefits of having an effective plan, benefits which bring positive value to all areas of your life. In which case, the obvious question is:

“Do you know which path you are taking?”

Do you have a plan that will allow you to take the right path through the mists and find the solidity necessary to not only endure, but prosper in this unpredictable economic environment?

Take a look at our Strategic Business Plan and realise the right direction for you, now. Begin enjoying everything you do, with a sweetie jar that’s full.

Your future the way you want it: visit www.impactlbc.com and check out the demonstration version of our plan now.


Breaking the Voodoo

It doesn't matter who you are or what you do in business, just at the moment life's tough and that's that.

Global recession, a shrinking economy, now swine flu and Man Utd look like winning the Premiership. Not a lot you can do to lighten the load...or is there?

Sometimes when everyone is stuck in a rut and feeling low it takes a good leader to pull everyone through. So my question this month is what will you do to brighten up the lives of staff and therefore customers? It really doesn't take much to pull it off but what it does need is someone to create the spark.

For the Impact Team it's a daily darts league and a mini get together each morning to focus on yesterday and what we need to acheive today. A mix of social and business, a few laughs along the way. It may not be much but it helps.

Here's an idea. Drop us an email letting us know what you or your staff are doing to lighten the mood and we'll give the most creative ones an airing next month. Business should be fun - that's my opinion, in fact it's one of my business values!


Business Reviews

As usual we are offering our Business Review (a two to three hour review session with one of our consultants entirely at our expense) to the first three businesses who reply to this edition. Give us a call at the offices on 020 8642 1919 now to reserve yours.


Thanks for reading, I hope you found this month's offerings useful and please consider the questions in this month's feature carefully. I urge you towards unprecedented success!

 

The signature of Phil Wells

Phil Wells
Business Success Coach
www.impact-corporate.co.uk

I will only bring you items and information that I believe will benefit your business.

 

Phil Wells is an international business and executive coach who specializes in strategy for profit improvement and business success.

For more information please visit our website and have a browse around.

Any questions – give us a call on 020 8642 1919 to discuss any aspect of business

Enjoy business – enjoy life!

Also in the Impact Group:
www.impactlbc.com
For personal change coaching/emotional freedom/habit and lifestyle management

www.impact-sport.co.uk
For professional sports mind coaching and psychology.


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©2007 Impact Life & Business Coaching Limited

Written communications concerning this mailing may be directed to Impact Life & Business Coaching Limited, 2 Cheam Court Station Way
Cheam Surrey SM3 8SP. Tel: +44(0)208 642 1919

Written By Phil Wells
written by
Phil Wells

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