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Five lessons to survive the first five years in business.
It's true, so many small businesses fail in their first years of operation. And it's also true that so many small business operators blame external influences on their demise. I know, I was almost one of them.
15 years ago, when in my early years of business after growing from a zero base to a great little business I was faced with the best part of $500,000 in bad debts. And of course it was someone else's fault. How could this be,...
•Chinese Takeaway
How to navigate the meeting of east and west.
It's new, exciting, captivating, somewhat intriguing and even a little sexy. It's taken the world's attention and firmly positioned itself as the new frontier in business.
It is China.
For over ten years now I have been traveling back and forth to Hong Kong, Shanghai and Taiwan and each year it becomes more and more advanced in business and savvy in the way of the western world. And the interesting thing is that we in the western world of...
•Franchise Fact or Fiction
How to tell which franchise is for you.
So you've decided to join a franchise group, but you're not sure which one is for you? You've looked at so many that you're starting to go crazy trying to decide. Black is now white and grey is now the only color that seems to make sense.
SO...... what IS the best group to be part of?
I reckon I would have this question asked of me at last a half dozen times a week. 'You've been in this game a long time Troy, which ones are the best to be part of,...
•Techno EEEKKKK!
How not to buy a business.
It's a bit of a drug I suppose. Technology just seems to suck you in, you resist from time to time but eventually it gets you and you end up with that gadget or thing or new faster gismo, or cool software 'cos all your mates told you that you REALLY did need it. Only to find that it's not really helped you or given you a better quality of life. In fact, it's just made it harder because now you have to keep feeding the beast to keep up with the 'upgrades'.
Well I...
•Tell Me, Don't Sell Me
How to talk your way into a sale.
The world is changing. People are changing. It's the law of evolution really, it's how the universe works.
So why is it then that so many sales people just don't get that?
Every day you see salespeople who are stuck in what seems to be a universal vortex, a black hole in time that they just can't seem to get themselves out of. They keep defaulting to the old golden sales rules, you know the ones; 'be sure to follow the 7 steps to a sale', or 'only ask yes /...
•The End of the Marketing Line
If they can see it, they can sell it.
Every year small and medium enterprise spends thousands of dollars on advertising and marketing their companies all over the world. And every year the same companies sit down for hours sifting through data as they try and establish how they came up with the sales result.
Was it the clever advertising, the great market positioning of the product, the excellent service, the buoyant market for the product or the great distribution channel?
Do they really...
•What recession?
? Is it really all in our mind?
What an amazing event, the Inauguration of the 44th President of the United States and the first African American in the White House. So monumental was this moment that over 2 million Americans huddled in The National Mall on a cold winter morning in Washington DC just so they could say to their children in years to come, 'I was there'.
Trains, planes, cars and over 10,000 busses ferried some 4 million average Americans into town. 13,000 'Port A Potty's' were...
•Well, that's not my fault...!
For 20 years, as a business consultant, I have been hearing those words. Time after time I have business people bark these sorts of responses when talking about their business experiences.
When asked about the past:
1. Yeah, I hear ya, but it's different for me, and that won't work.
2. I tried that, didn't work.
3. Nope, won't happen for me, I'm different.
4. No, not my fault, must be you.
5. I tried that, waste of time.
6. You're kidding right? I'm not going to try that.
And then...
•The Power Of Now
A few weeks back, while the world waited for a new President to appear in the United States, I was on radio saying business people across the country needed to simply claim some personal responsibility for their destiny, put their head down and the tails up, and run their own race in the face of an economic change, and a U.S. presidential change.
Now don't get me wrong, I think it's monumental that society has evolved so much since Martin Luther King Jr,'s speech was delivered on August 28,...
•First What, then HOW
Well, here it is again, that time of year when we all seem to panic for some reason. The time when we all start running around the office screaming, 'QUICK, HURRY, IT'S ALMOST END OF MONTH, DON'T YOU KNOW WHAT MONTH THIS IS? ... IT'S THE END OF FINANCIAL YEAR!!!!!!!!!!!!!.....ARRRRRGHHHHHH!!!!.'
But why do we do that?
Well, the simplicity of it is that we are typically unprepared. We know it's coming. In fact, it comes at the same time each year.
It's a really bad business habit to leave...
•2 Degrees of Separation - The Net-effect of Net-works.
You've all heard about it, some of you have done it, many have looked at doing it, and others just don't know how to start doing it. And some of you have done it so much that it just doesn't do it for you anymore!
It's called networking.
It's one of those words that you hear in business over and over again, day in and day out. It's used, abused and sometimes even used to amuse. But through all of its iterations so many people really do not understand its true meaning. Or for that matter, its...
•Ready - Aim - Hire; Recruitment and Retention of Staff
For many business owners and leaders that headline should read, Ready, Aim FIRE!
It's the age-old business dilemma: 'How do I hire and retain good people to work with me?'
For two decades I have heard small business owners and leaders scream the following sentences over and over and over again.
1. Where can I find good staff?
2. I just can't seem to motivate my people?
3. Why do all the good people always leave?
4. How do I keep them interested? - What do I have to do to get them to go...
•If a Tree Falls in the Forest
I wonder if anyone has stopped to take a look at the relationship between how much time the individual average small - medium enterprise owner (or employee for that matter) places thinking about carbon emissions / footprint / global warming versus the financial future of their families in times like this.
Let's be honest.
When your personal financial back is against the wall because of the rising costs of doing business, brought about by an economy that the government of the day struggles...
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