| Issue 11, May 09 | www.impact-corporate.co.uk |
"Developing Business Excellence"
Hi {~Firstname~},
In this edition:
- Introduction
- Tip Bitz
- Feature: World Class Business?
- Where are you spending your time?
- Getting it all down?
- Offers
- Subscribe/Unsubscribe information
Introduction
Welcome back to Biz Tips and more useful information tips and anecdotes
for the world of small business.
Is it just me or is someone
creating a succession of distractions to deflect one’s attention
from the causes of the recession which continues unabated? Since
our last newsletter we have had swine flu and MP’s expenses
added to the mix!
So sticking to the point, is all the extra marketing that we suggested over the last three months paying off – hopefully some green shoots are appearing for you as they are for us.
Once again 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
More business news -
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On 31st March the Government announced plans to introduce regulations which will enable businesses to elect to defer 60% of the increase in their 2009-10 business rates bills, over a three year period, effectively to 2010-11 and 2011-12. Once the regulations are in place – which is expected to be by the end of July – local authorities will write to rate payers, offering them the option of deferring part of the increase.
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If you are struggling with auditors/cash flow call us today and let’s talk it through – a problem shared...
- HMRC Bank Account Changes - HMRC has changed some of the bank
accounts it uses to receive tax payments and repayments of overpaid
tax credits. PAYE and Corporation Tax are affected and others will
follow. You can check the bank account details for the type of tax
you are paying on the Taxman's website: http://www.hmrc.gov.uk/payinghmrc/bank-account-checker.htm,
Direct debits are unaffected.
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: World Class Business?
What would it take for
your business to be a truly world-class organisation? I have asked
this question of business owners during courses and when speaking
at seminars for years now. Perhaps unsurprisingly most small business
owners claim not to be able to achieve a world-class company due
to one thing in the main: their size.
The misnomer here is that in their opinion, in order to have a world-class
business, the business would need to operate on an international
or global scale.
To my mind, ‘world class’ is about the internal and
external ‘standards’ of the company or business. Certainly
in this respect the SME has a much easier change operation to reach
perfection (or at least all it can be) than the large corporate.
Delivering excellence in terms of customer service for example,
is certainly easier to attain when you have 1-20 people delivering
it then several thousand.
Q. What ‘class’ would you like your customers to recognise
your business as?
That’s a challenging question for most owners and one that
is rarely considered. If you consider it now what do you come up
with? Write it down and now ask yourself…
Q. What are the key areas requiring action in order to achieve that
perception of class?
Write those down to, then ask...
Q. What are the first steps towards developing each area?
Before you know it, your well on your way to creating a ‘class’
business.
Remember, it’s the small things that matter. Generally as
far as customers are concerned (and to some degree your staff) often
these small things, done to an excellent standard make all the difference.
Important when as like many of us you operate in the crowded and
competitive market place.
Allow your business to be all it can be. You never know that might
be world-class sooner than you think!
Where are you spending your time?
Have you stopped to consider
where most of your time is focused within your business? Which of
your products and/or services take up the most amount of time in your
busy schedule?
One of the reasons for asking these important questions is the consideration
of the profitability of those income lines against the time spent
developing them.
To my mind the time spent on particular income lines need to be commensurate
with its profitability. If you believe that there is merit in that
equation then how does your investment of time stack up?
I have, on so many occasions, visited with business owners who are
piling energy and effort into the least profitable areas of their
business without a clear strategy.
The old adage ‘woods for the trees’ applies often, which
is a common mistake when people are too busy being busy.
Why not take out the ‘profitability microscope’ and get
focused upon what really matters?
You might find a few surprises.
The Impact Team are busy
creating one of the key steps towards probably our greatest strategic
objective – franchising our business. Currently we are in the
middle of creating an operations manual: an easy to follow step by
step guide to exactly how we succeed in business, which is going to
be the road map for our franchisees in the UK and overseas.
The detail required to create a ‘turnkey’ operation is
finite and only when you have to produce a document such as this do
you realise what a challenge it is.
On the upside however, its completion becomes a guide for you and
the existing business. As you write out the ‘how to’ you
soon realise that it’s been a while since you did this or that.
Maybe it was something that worked fantastically well in the past
and somehow it fell out of fashion with you.
So you try it again and ‘hey presto!’ it still works.
Here’s a challenge for you: list out all the great sales and
marketing strategies that have worked in the past for you. See if
you can re-discover one or two that have fallen from grace and decide
to give them another go.
And finally, a public thank you to the team for sticking with the
manual, it’ll be done in no time!
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 0845 257 4975 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!
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 0845 257 4975 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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