Business Lessons From A Stripper

Sometimes the fastest way to grow your business is not to add anything new.

But rather to strip away the old.

Old tactics. Old products. Old ways of thinking.

There’s power in reduction. Every element you strip away from your business allows you to focus more deeply on what is left.

It takes courage to throw out what you have. It’s so easy to stick with what you’re used to.

But when you regularly strip away the unnecessary and extraneous, you are left with a far fitter, leaner, more effective business.

With that in mind, here are some powerful questions to ask yourself, to help you strip away the clutter in your company’s strategy and operations:

  1. What products or services don’t make me much money or take a lot of time to deliver? What if I dropped them?
  2. Should I get rid of all clients that waste a lot of my time or don’t spend enough?
  3. Which staff aren’t excellent? Can I train them to be great or should I get rid of them?
  4. Which jobs in my company would be better outsourced?
  5. Which business relationships should I end or reduce time on?
  6. Which suppliers should be dropped?
  7. Which marketing methods should be cancelled or reduced?
  8. Should I change or drop my current brand/ company positioning?
  9. What office furniture, filing or administration materials should I throw out? 
  10. What ways of thinking or behaving no longer serve me and should be dropped?

Keep these questions so you can come back to them – every quarter is ideal. Strip away what’s not great regularly.

They’ll keep you and your business sharp, efficient, effective and profitable.

How Your Self-Image Affects Your Success in Business.

If you are frustrated with how fast your business is growing, take a look at how you are using your mind.

Have a think about how you think.

Specifically, examine your self-image – and whether it is putting a limit to the level of success you are reaching.

In 1960 a plastic surgeon, Dr Maxwell Maltz, published a book that was a total breakthrough at the time: ‘Psycho Cybernetics’.

Maltz was a plastic surgeon and noticed that many people’s issues with their looks were really just indications of how they thought about themselves inside.

From this discovery came a boom in studies about self-image psychology, which is still prevalent today.

The essence of the field is as follows:

  1. You have an image of yourself.
  2. You will usually perform in line with that self-image.
  3. If you start to perform above your self-image for a while, you will unconsciously sabotage that to return to the level of your self-image.
  4. Likewise, if you perform below your self-image for a while, you will soon take actions that bring your results back up in line with the person you believe yourself to be.
  5. Therefore the key to higher levels of success is to develop a higher, better self-image.

So how can this be applied to business success?

Well Maltz would suggest that if you want to achieve much more at work, you should do two things.

First, you should design a new image of yourself. (For example, more driven, more focused, more confident, more organized, more daring, more of a learner, unstoppable.)

Second, you should practice mentally ‘seeing’ yourself as that person, again and again, daily.

Now some may view this technique as dubious, but it is precisely this method that forms the core of today’s sports psychology training. The same mental training that has been shown in countless research studies to dramatically improve many athlete’s performances.

So if you’ve hit a wall with your company’s growth, give it a try. Develop a new version of you – with the personality traits that you would most like to have. Then twice a day, morning and night, spend 5 minutes imagining yourself to be that person. See and feel it as if it’s reality.

If you do this sincerely for a month, you will likely be astounded by how your performance and results improve. It borders on magic.

There’s a reason that Dr Maltz’s book is still in print 57 years later.

It works.

Important Business Advice From the World’s Second Richest Man.

Today it was announced that Jeff Bezos, the founder of Amazon, is now the world’s second richest person.

And exceedingly close to Bill Gates in wealth.

It seems an appropriate time then to look at how he runs his business – and what we can learn from it to help us run ours.

This month Bezos published a short explanation on what he’s currently focusing on when it comes to managing his company.

Here are the 4 key points…


1.True Customer Obsession.

Bezos says you can have one of 4 primary business focuses:

  1. Competitor focus
  2. Product focus
  3. Business model focus
  4. Customer focus.

In Jeff’s view, constant customer focus yields the best returns. Because customers are endlessly dissatisfied, a company that obsesses about it’s customers happiness is constantly lifting the quality of the experience bar and inventing new ways to please. Which together lead to superior results.

Question: are you customer focused enough?

2. Resist Proxies.

Basically Bezos argues that as a company grows bigger, people often focus on the mechanics of something rather than what those mechanics were designed to improve.

For example, companies become obsessed with doing processes correctly, rather than focusing on the end result of the process.

Or they rely too much on market research about what the customers want, rather than the inventing of new ways to please them.

Question: are you spending too much time on small picture detail and processes rather than big picture opportunities and rewards?

3. Embrace External Trends.

What’s happening in the wider business world that you can embrace more fully?

Obviously the digitization of the world is one external trend that Jeff Bezos has taken advantage of more than anyone else on the planet.

But currently he is focusing on the macro trend of machine learning- using the power of tech to analyse, to predict what a customer will want, to customize his service to their particular needs, etc

Question: what’s happening in your industry or indeed the world that you can take advantage of?

4. High Velocity Decision Making. 

To Bezos speed matters. Decisions should be made quickly in almost all cases.

Why? Because usually decisions can be reversed, so you’re better off deciding and then observing the result, then adapting quickly to it. Instead of waiting until you’ve thought it through to the nth degree.

On occasion, however, decisions are highly difficult to retreat from- in that case, Bezos argues, you need to think much more deeply before you decide. Fast decision making would be a mistake. But those situations are few.

Bezos has an interesting concept called ‘Disagree and Commit.’ In this case a group of people are totally honest about their disagreements, but then choose a direction and get behind it 100%.

(So much more effective than those companies where staff bitch and complain behind the scenes, saying “I told you so.”)

Questions: Are you deciding fast enough? Are you making enough decisions?

These 4 points are thought provoking definitely. But more than that, they can be totally company changing, if you have the guts to make them a core part of how you run your business.

Hey, with a net wealth of $75.6 billion, he may have a point 🙂

How A Few Minutes Thinking Can Make You Millions.

As an ambitious entrepreneur I know you are working extremely hard.

But are you thinking enough?

Sometimes we get so busy at work that we forget that taking time out to think can get us much better results.

Otherwise we can spend our lives climbing a ladder, only to find it’s leaning against the wrong wall.

If you are not growing your company as fast as you’d like, more hard work is probably not the solution.

You probably need a better strategy – and that can only come by reflecting on your current situation.

With that in mind, here are some questions to reflect on, that can potentially lead you in a much more successful direction…

  1. Are you clear on where you want your company to go?
  2. Are you going after the right audience?
  3. Are you aware of your what your personal strengths are?
  4. How could you spend more time each week using those strengths?
  5. Do you have the right team, and if not, who else do you need?
  6. Do you have a clear and effective marketing method to bring new customers in?
  7. Are you generally happy at work, and if not, how can you increase your happiness?
  8. Is your office organized, and if not what are 3 things you could do today to achieve that?
  9. Do you have a personal investment strategy?
  10. In what direction is your industry heading?
  11. Where do you want your company to be in 3 years from now?
  12. How could you lift your standards of excellence?
  13. What are the main constraints to your company’s growth?
  14. What could you do to massively increase your excitement about your company?
  15. Are you scheduling enough time to think each week?

These are powerful questions. And if you take the time to consider them deeply, you will be surprised and delighted where the answers will take you.

Constantly working is not the key to business success.

Constantly working on the right things is.

And that demands regular, deep reflection.

 

Want To Grow Your Business? Use The Power Ranger Method

Here’s an amazing and true story.

It’s the kind of story that makes any entrepreneur think about how they are growing their company and how they could it better.

It’s about Haim Saban, a guy who used to work producing music for the TV and Film industry in Hollywood.

Haim had an idea to do a TV show, based on a crazy Japanese show featuring weirdly dressed super heroes doing wacky things to solve crimes.

Very excited, he put together a major presentation and took it to all the TV studios during their season to look at potential new shows.

Everyone rejected it.

So Haim polished the concept and came back a year later.

All the studios rejected it again.

So he came back the next year. Rejected.

Then again the year after. Rejected.

Then the next 3 years in a row. And 3 more times the studios rejected his concept.

Think about this for a moment. How many people would even have persisted this far?

Very few of course.

But Haim Saban kept going and the next year, his eighth year trying, one TV studio said yes.

And that’s how the Power Rangers TV series was born. (And in the last month, a $100 million Power Rangers movie has also just been released).

And Haim Saban is now a billionaire.

Now you may not be in his industry, but all of us entrepreneurs can learn a lot about business from Haim.

Keep persisting, keep refining, and keep believing.

The Power Of Time Compression

As an entrepreneur you are always super short on time.

There are always too many meetings, staff requests, proposals and general things to do. And it never ends.

That’s why it’s absolutely crucial that you become truly superb at time management and productivity.

I’ve spent over 30 years studying business productivity and today I’d like to show you one of the techniques that has helped me the most.

You can discover it in this short video

 

 

Use this one technique all day long and you could quite feasibly achieve 50% more than you are currently doing. Perhaps even more.

It’s a total game changer.

If you’re committed to being ultra-productive in business, you are going to love this time management method. Check it out here

HOW TO CREATE A BREAKTHROUGH IN YOUR BUSINESS

I was mentoring a client today when he told me a radical technique he used for taking his business to the next level.

Maybe you should try it in your company. The technique is pretty simple, but the results are fast and profound.

He just went to his staff and asked them to do the following 2 things:

  1. Each come up with 50 ways to improve the company’s customer service.
  2. Then each come up with 50 more ways to improve their operations.

Wow, that’s a pretty outrageous request .

And I love it for several reasons.

Firstly, he didn’t ask for 1 or 2 ways to improve things, he asked for ONE HUNDRED. Each!

Now as long as they put the effort in, what are the chances that he wouldn’t have been flooded with amazing suggestions?

If he had, say, 5 staff he would have got 500 HUNDRED WAYS to improve his business – surely at least 50 would have been good ones.

The second reason I like this technique is that when you have to come up with 100 ideas, you are forced to think more laterally and deeply. You can’t just brainstorm a few obvious suggestions, you’ve got to really push your mind to come up with that many. Therefore the chances of generating a breakthrough idea are much higher.

And the final reason I love this method is that he got his team really involved – he didn’t just tell them how the company was going to change – he asked them to fully commit to changing it themselves. It’s their ideas that he will use, not just the ideas of the owner. So no doubt they will feel a lot of ownership and pride as the best of these ideas are rolled out across the company.

Yes it’s a radical request to ask your staff (or if you’re a solo entrepreneur, yourself). But if you’re serious about transforming your company this year, it’s got to be worth a try.

The 5 Mental Habits Of World Class Entrepreneurs

I know I give you a lot of marketing techniques to build your business.

But the truth is that’s only half the battle.

You also need to get your mind right. You need to think like a great entrepreneur thinks.

This is the area that so few business owners work on – and as a result they often don’t achieve their financial dreams.

In the video below I show you 5 mental techniques that I teach my clients that help them to get their mind right and achieve at their full business potential.

Check out these 5 tips here:

It’s no exaggeration to say that if you make these simple mental fitness tips part of your day, you’ll experience:

  • Much less stress
  • Much greater productivity
  • Massively increased focus
  • And build your business a whole lot faster

Check them out right here:

How Tom Brady Can Help You Be A Better Entrepreneur

Many are still talking about the record breaking comeback of the Patriots to win the Super Bowl.

No team had ever come back from such a deficit to win a Super Bowl – the Patriots scored 31 points straight to clinch what was assumed by virtually everyone to be a certain Falcons victory.

Virtually everyone except quarterback Tom Brady of course. And history was made.

But this isn’t just a lesson in great football. There are many things that Tom Brady did that are EXACTLY what you should do as an entrepreneur.

  1. He persisted when so many ‘experts’ assumed victory was impossible
  2. He lead and inspired his team to believe that they could still win
  3. He kept calm under immense pressure
  4. He stayed positive, even when he made some crucial mistakes
  5. He changed tactics when his initial strategies weren’t working
  6. He got up when he was knocked down again and again
  7. He listened and acted upon the advice of his advisors
  8. He consistently took calculated risks
  9. And when victory was achieved he gave the credit to his team, not just himself

Does Tom Brady actually have any business skills?

Well, some would look at his lack of business experience and say No.

But others would look at how he played at the Super Bowl and say “Hell yeah.”

And maybe it’s time for all of us to bring a little more Tom Brady into how we run our companies.

A Simple Method Mark Zuckerberg Uses To Dominate His Industry

Clearly Mark Zuckerberg is one of the world’s greatest entrepreneurs.

 Already one of the world’s richest people, his business continues to grow at an extraordinarily rapid pace. And he’s only 32 !

All of us can learn a lot from him.

With that in mind, I want to show you a technique Zuckerberg uses to grow his company.

It’s called The Ten Year Roadmap.

You can check it out here

It’s simple for anyone to do, but hardly anyone does.

But if you are one of the few who create a Ten Year Roadmap like Zuckerberg, I believe it will greatly increase the likelihood that your company will do well in the future.

I’ve done a very short video explaining Zuckerberg’s technique, here:

I hope you find it helpful.