Mind Masters

Delegation and Growth

2007-03-27T16:01:00.000-07:00

I had a meeting with one of my members who was sharing his frustration about the way his vision for the business just wasn’t happening. He kept getting bogged down in things that didn’t allow him time to work on creating the vision. He came to realize that although he had job descriptions, he had not fully delegated all of the work to the people he had hired.

Small business owners often ignore the need for an organizational chart. This is a mistake, because when you detail all of the roles and/or positions necessary to profitably manage the business and spell out the systems/functions for each role you are then properly positioned to grow. This is the structure that Michael Gerber talks about in The E Myth Revisited. He refers to the fact that an orderly business provides customers with a level of trust that the product or result they want can be delivered.

It also delivers a message to you, the business owner, that the business can grow without you. Your decisions on how to handle growth, will be easier, when you have worked out what is necessary to run the business. Leveraging your time, so that the high priority, high pay off activities have consistent focus and other things can be handled by employees, virtual assistants, subcontractors or by part time people.

Mind Master Minute

2006-08-10T06:26:00.000-07:00

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or "right mouse click and save target as. . ."
The Mind Master Minute is a short, one minute audio full of tips to help you to business success. Please feel free to leave a comment below.

Introducing the Mind Master Minute

2006-08-03T07:04:00.000-07:00

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or "right mouse click and save target as. . ."
The Mind Master Minute is a short, one minute audio full of tips to help you to business success. Please feel free to leave a comment below.

Marketing Tactics That Work

2006-01-30T14:33:00.000-08:00

Marketing is a never ending subject at Mind Masters. This week after planning for the month, there was and always is a question of needs. Everyone wants more business leads, but that is not our direct mission – Mind Masters members support each others personal, professional and financial growth with ideas. So there was much discussion about what kind of groups would be best to join and prospect in.

For some it is the weekly kind of networking, the whole purpose of which is to exchange leads. Our discussion expanded to what to look for in these groups, specifically people who market to the same demographic.

Then there are the civic groups that have a wider scope of people, not just business owners. These groups seemed to fit one person’s business focus but generally require time and participation in fund raising. Someone else asked about Toastmasters, the organization that can enhance your speaking abilities. At that point we were no longer talking about marketing but about personal development. Check out some of these organizations for yourself and see how they might support you. Here are some suggestions (www.BNI.com ,
www.Toastmasters.org, www.Rotary.org. )

Holiday Dilemma

2005-12-07T08:42:00.000-08:00

Having one’s own business is like having a baby that needs constant attention. When we enter the holiday season, keeping that attention on the business gets more challenging. We want to see people we don’t see very often, there is shopping that must be done, things that need to be mailed, yet the business must continue to have our attention.

This is when planning each day becomes the most important thing you can do. With a list of all the to do’s and a focus on the results you want to produce, a daily prioritizing and scheduling process will keep you on track and in motion. Try not to get lured by things that are not on your list. Write those things down, then if you get through your priorities of the day, you can choose to pursue the distraction.

The difference is that you will accomplish more with constructive action then merely doing things as they come up.

Get Prepared

2005-11-14T10:11:00.000-08:00

I was reminded when I wrote last time on dreams that as the months are pushing us closer to a New Year we need to start preparing for it. I always like to start with finances. So many people hide their heads in the sand until Uncle Sam comes knocking on the door. After all the turmoil with the flooding in the South and people and businesses being displaced it is certainly important to make sure you have records that are up to date. I suggest you start with good financial records.
Why do you need Financial Statements?
1. All lenders of Capital – banks, finance companies, venture capitalists – consider them a condition for granting loans.
2. You need them for tax filing.
3. Insurance claims require accounting records – Balance sheets to substantiate the value of fixed assets.
4. Financial Statements are valuable in proving the nature and extent of any loss, in litigation they are used to substantiate your case or when you lack them, hamper it.

The Value of Your Work

2005-11-01T11:22:00.000-08:00

Mind Masters meeting often take many turns depending on what members are working on. Brainstorming topics seem to take on common themes, like valuing the work in a service business both in time and customer perception.

When it comes to getting paid for the time spent on a clients work, everyone agreed tracking the time was important but also that each of us has to value the work we do so we can charge accordingly. No one wanted to be an unpaid consultant. The market sometimes dictates the prices that can be charged, so knowing the market contributes to the value of what we do.

The frustration comes about when clients question the cost of the completed work. That is where policies are important to have in place, like “our policy is we get 50% to start, or we need a credit card number to hold your appointment." Reviewing the areas that we stumble over, helps to develop the policies that work for each business. Check out www.mindmasters.com for a meeting time to get in on some of the things that challenge you .

Dare to Dream Big!

2005-10-19T13:20:00.000-07:00

The last Quarter of 2005 has come up quickly. Are you holding fast to the dreams and goals you set out for yourself this year? When we get caught up in the doing it is sometimes hard to remember why we are doing the “do”. Keeping the imagination stimulated can be the key to achievement.

Dare to Dream – one of the most powerful facets of our mind is our ability to imagine things – used creatively, the imagination can change our lives. What we are today and what you have in our life today, is the result of what we have imaged in the past. If we want to change the results we are getting we must begin to decide consciously and creatively what we are going to image.

A Goal that is implanted and visualized time after time will get the action, but we must let each phase of the mind do its job. Our conscious mind chooses the goal or goals, holds to the goal consciously and the subconscious provides the “how to” and leads us into the experiences needful to attain the goal. This is our Creative responsibility!!! Let’s take time now to revisit those dreams and goals!

Delegation Opens Doors to Growth

2005-10-10T11:03:00.000-07:00

Last week I was in a dilemma about delegation. What I realized was how delegation allows me to focus more on my clients. As the saying goes, service sells, so keeping the clients you do have is one of the major ways to keep a business growing. What do you think is the number one reason people stop doing business with you?
Perceived indifference is why; it makes up 68% makes them stop. So focusing on the things that help to maintain that customer relationship becomes a number one priority. Here are some things I have learned, that could help,
· Establish a data base where you can keep track of both prospects and clients and stay in touch with them on a regular basis.
What do you do now to keep in touch with clients?

· Create &/or acquire new products or services for your clients. They can be yours or someone else’s.
What have you offered new in the last few years?

· Use a newsletter, e-mail newsletters that convey information and your expertise to your clients. Remember today’s buyer is hungry for information, make it easy for them to be educated and the more they will seek you out.
When you are going it alone, time is of the essence. Delegation gives you the time to focus on the high priority, high payoff areas of your business.
To understand more about making the customer service experience something that happens on purpose, there is a great little book on service, by Jim Williamson that will help you craft one. Check it out at http://www.lizardbrain-monkeymind.com/sales_and_marketing.htm.

Mind Masters

2005-10-04T15:52:00.000-07:00

Fall and winter is on us I have been without an assistant/bookkeeper since early summer. My dilemma, should I find someone new, continue to handle it all myself or find a couple of people who I can cross train, so I don’t have to go through this again, and again? Over the years I have recognized that of all the things you can do to make your business a success, perhaps the most important is to stop trying to do everything yourself. If you are not delegating, you may destroy your business in the long term. Yes, it's true. Your hard work, the long hours you put in, and your personal attention to every detail may be hurting—not helping—your business.

Almost inevitably when I have seen a business fail, or a business owner just give up, a major (or at least contributing) cause was the inability or unwillingness of the owner to delegate. Tragically, many of these businesses were just at the point where they were really taking off. Business was good. Customers were lined up at the door. But the owner tried to do everything. Why did they through in the towel? Because there was just too much work for one person.

I had a friend once who used this statement to define what she needed to do in her business “Do what you do best, and hire out the rest”. As we move toward the middle of the year, do what you do best, then look and see what you can delegate.

Small Business "Think Tank" for Growth, Profitability

2005-04-13T20:48:00.000-07:00

If you are a small business owner with big dreams who wants to significantly increase and sustain business growth, but is caught in today's hyper
competitive business environment - you need ideas, focus, brainstorming
and a team to get you on track and keep you there.

Or perhaps you are going it alone, doing as much as you possibly can,
but you are just not getting the results you need to be getting. You
need a supportive environment that can help you with any business issue
you encounter.

Mind Masters is an organization of business owners, your own
personal Board of Advisors that has a 15 year proven track record, it is built on the simple principal that shared insight and a consistent focus on dreams and goals enhances
your probability of success. Research shows when you consistently concentrate
on an objective and troubleshoot obstacles, you are many times over
more likely to reach your target...especially when you have support.