Time to Ditch the Fear of Failure

Time to ditch the fear of failure

Everyone views failures differently – what might be a triumph for one could be a major disappointment for another. You may have experienced this in school while your classmates shielded their results from one another, knowing that everyone’s standards are slightly different. Failure has a lot of negative connotations but perhaps surprisingly, it can be taken positively too.

There are many, many sufferers of atychiphobia – the fear of failure – but we can safely bet that, if you’ve embarked on your business journey, you are not one of these people. Those who are scared of failure often don’t even try at all, in case failure rears its head.

Realistically, failure is rife in the business world. Running from it may mean that you miss out on a lot of opportunities for your business to grow. It’s also not healthy to run head first into every opportunity recklessly, without considering the implications. As with everything, approaching failure is an art and requires a great deal of balance.

You will fail…..get used to it.

It’s undeniable! Growing a business comes with its own unique set of risks, meaning that failure is definitely on the cards.

In 1955, two men created a type of putty which was intended to be wallpaper cleaner. They seriously misjudged the demand and ended up with a product that seemed to be a huge failure. By chance and a few convenient connections, the product ended up on the table at a nursery school where it was an instant hit. The children loved it and found it a much better material to use when they were moulding their imaginations into something physical. The product became a huge success, so much so that there isn’t anyone alive who doesn’t know the name Play-Doh and associate the brand with happy memories.

Failure doesn’t always directly lead to a major success as it did in the case of Play-Doh and you can’t always physically use your failures. You can, however, always use the things you learn from your failure.

What doesn’t kill you……

We’re sure you’ve heard every failure cliché under the sun. We all know that failure is supposed to make those successes even sweeter. We know that what doesn’t kill us makes us stronger and we know that failure is just another word for experience. The most frustrating thing about these clichés? They’re all true, to some extent. So, how do we start taking them seriously?

The best thing you can do for your business is to take failure as it comes and not get knocked down and permanently defeated. There’s no need to glorify failure – we all know that failing is disappointing and demoralising – but there is a need to treat it like the lesson that it is. Dusting yourself off from failure means that you’re giving yourself another chance to get it right, maybe not next time, or the time after that but at some point down the track. It takes time to look at failure as a positive, but your business will thank you for it.

There is no denying that failure is scary, but using the failure to grow your business is a true art. If you’re ready to master the art, we would love to hear from you. Call Bx on 1300 068 229, or find out more about what we do here http://www.businessforlife.com.au/ProgramFindOutMore

Getting Organised Amongst Business Chaos

Everyone is time poor – how often, when you ask someone how they’re doing, do they respond with a simple “busy”? Sometimes, it’s with a smile – after all, being busy in business usually means money is coming in. Other times, their expression is more akin to utter exhaustion – being busy can leave us feeling drained and weary.  How do we get organised amongst all the business chaos?Getting organised in small business

We all have the same 24 hours each day, so how do we make the most of that time, feel organised and avoid becoming depleted of energy along the way?

Of course, there are simple things we can be doing every day to make sure we stay productive, have a great mindset and stay sane amongst all the chaos. Eating healthily, exercising throughout the day, taking scheduled breaks, maintaining a great filing system and using technology to your advantage are all great ways to get the most out of every day and stay organised.

Here at Bx, we strive to be implementing every single one of the above but we are huge fans of using apps and other bits of technology to our advantage.

Why apps to get organised?

Technology is everywhere – there’s no denying it, but instead of treating the influx of technology as a negative, we’ve chosen to treat it as a great opportunity. Apps can integrate with our phones as well as our desktop and keep us organised and productive throughout our days, no matter where we are. Which apps do we swear by?

Asana

Free for up to 15 users, Asana is a project management tool that keeps all your employees on the same page and across every detail of every project. It’s like a to-do list on steroids. It has changed the way we work at Bx in the last few years and turning back won’t be an option.

Life Cycle and Sleep Cycle

Using both these apps together lets you track your days and nights so that you know exactly how you’re using your time and what you need to do to improve your productivity. Life Cycle tracks your days, taking note of where you go and how long you spend doing certain activities. This is great for those workaholics amongst us who don’t even realise they spent 90 hours working this week. Meanwhile, Sleep Cycle tracks how long you sleep as well as the cycles within your sleep and wakes you up when you’re in the lightest stage of sleep.  

Evernote

If you’re carrying around your laptop, phone or tablet anyway, it doesn’t make sense to decide to add a notepad to your luggage so using Evernote is a great way to have the convenience of a notepad combined with the convenience of technology. Evernote allows you to take notes any time just like any other notebook app, but you can pull other documents into the app, videos, photos and snippets from the web to compile a notebook that fully encompasses your vision for whatever you happen to be working on.  Keep it all in the one place so you’re not wasting time searching for that great idea you had last week!

Have you found some great ways to use technology in your business? We’d love to know more about what works for you and your business and help you out by sharing our successes too. Call Bx on 1300 068 229, or find out more about what we do here http://www.businessforlife.com.au/ProgramFindOutMore

 

Are you going slow enough?

It goes against our natures as business owners and entrepreneurs; we want to be all go, all the time – after all, isn’t that how we get things done? There’s a whole different line of thinking taking hold in businesses today – mindfulness. It’s not a new idea but it’s one that might not be such a bad idea when it comes to being more productive and focused in your business.

The idea of slowing down in your business is similar to the idea of slowing down when you’re driving in the car – slowing down makes it easier to drive safely and efficiently. It’s easy to want to speed – it’ll get you there quicker – but if you’re speeding up by cutting corners, ignoring warning signs and not following proper procedures, you could end up driving yourself into some nasty terrain!

What can you achieve when you slow down?

  • Focus and Perspective; taking the time to stop and absorb your surroundings means that you can focus on what’s important and concentrate all your energy on that.
  • Insight; slowing down means you can see what’s coming up and you can prepare yourself better for it, instead of waiting until the last minute.
  • Well-thought out conversations; whether you’re conversing in person, online or through your marketing materials, taking the time to think about what you’re going to say before you say it can result in more effective conversations.
  • Reflection; slowing down can give you more time to revisit your goals, assess your progress and readjust.
  • Enjoyment; instead of rushing so fast that you can’t enjoy what you’re creating and achieving, there’s something in stopping to smell the roses and enjoy what you’re doing!
  • Rest and rejuvenation; everything listed above is fantastic, but it might not ever get done if you don’t take a break to make sure you’re well rested so you can get things done.

A study of 343 businesses has found that the companies who were focused on always pushing forward and moving at a fast pace to gain an edge over their competitors were actually more likely to have lower sales figures and operating profits. Those who took time at important moments in their business life were more likely to stay on track and meet targets, showing us that slowing down doesn’t mean that productivity suffers as a result.

It might be easy to talk about slowing down, but how can you actually start to practice ‘being slow’ in your day-to-day business life? Yet another study tells us that 46.9% of the time, we’re thinking about something other than the task we’re involved in, how do we get our mind to focus?

  • Concentrate on one task at a time. Things might get done a little slower, but you’ll be getting the tasks done at a high standard every time.
  • Eat slowly and away from your desk. It might sound a little pointless, but eating slowly means that you enjoy your food, you focus on your senses, you get a little me-time and you fill up from less food, meaning less food breaks later in the day, keeping you efficient.
  • Get moving. A  5-minute walk in-between tasks allows you to clear your head, spend time enjoying the fresh air and ready yourself for the rest of the day.

Even though it goes against everything we’re told to do, taking that time to slow things down and think things through could do wonders for your personal sanity, as well as your business’ growth.

Do you find slowing down difficult or struggle with getting organised and focused so you can be productive? We’d love to speak about how we could help your business to improve its performance. Call Bx on 1300 068 229, or find out more about what we do here http://www.businessforlife.com.au/ProgramFindOutMore

Getting Financially Fit

Our business and personal lives are so closely connect that, sometimes, we find ourselves neglecting one while we focus on the other. One area in which we cannot afford to be doing this is our finances. Staying on top of our finances in our personal lives can have a really positive impact on our business lives. Earlier this month, Ryan Porter shared five tips to help you get financially fit this year:

  1. Have Goals

What is it that you’re working towards? A new car, a trip overseas or even starting a business could be on the cards for you. You can have as many goals as you desire and they can be as big or small as you like but you must have goals.

Having a target that you’re aiming for means that you can track your progress easier and, when things get tough, you can visualise what you’re putting in the hard work for! Get specific about your goals by writing down an exact dollar amount, a time frame and a few immediate steps you can take to get started! Make it as easy and clear for yourself as possible.

  1. Know Your Numbers

When it comes to budgeting, you need to know what you’re starting from so you can be realistic in moving toward your goals. Do you know what’s coming in and out of your account every month? What happens with the money that’s left over after your everyday expenses? Finding answers to these questions and setting up solutions and a purpose for every single dollar will set you on the right track.

  1. Automate Things

Many of us still shuffle our money around ourselves but with online banking, automating your money is a huge possibility and a great tool for saving. It’s tempting to look at our money as it grows, but by setting up payments for bills, savings etc, there is no need for us to keep looking and be tempted to spend that money all in one go.  Create a new bank account specifically for one of your new goals and set up automatic transfers into the account for every time you get paid.

  1. Monitor and Review

Find a way to track your goals throughout the year – perhaps what you’re doing isn’t working for you and you need to adjust; maybe you’re going really well and can increase your saving!

Find someone to keep you accountable; whether it’s an advisor, partner, friend, family member or even an app, having someone to check in on you throughout the year and give you the motivation when you’re not keeping on track.

  1. Start

The first step is always the hardest – but once you’ve taken it, the other steps will follow naturally. As soon as you’ve set your goals, take immediate action towards that goal, never procrastinate and start the way you intend to continue.

If you’re on top of your finances in your personal life, it can only benefit you in your business life. Start setting your financial goals now and get started – don’t let another year go by without being in control of your money.

 

How To Make 2017 Your Best Year In Business

2017-Icon-250x250

The New Year is well and truly underway now and those resolutions we made on the brink of 2017 are still fresh in our minds. Whether we’re feeling the sting after failing three days in or we’re still going strong, there’s no doubt that a new year is a time to be thinking about how we can be better versions of ourselves in the coming year. It doesn’t just apply to our personal lives – have you considered making resolutions to better your business this year? It’s not too late! Here are three easy steps to make your business the best that it can be.

Get a Vision

What does the best year in business look like to you? This is a time to let your imagination run wild. What do you dream for your business, where would you like to be at the end of the year, what do you wish you could do with unlimited resources? Dream big! No two visions are the same, but by thinking radically about your business, you’re pin-pointing all the possibilities and laying them on the table.

Daring to imagine all those possibilities might seem a little wishy-washy to you, but gather all those possibilities and shape them into a sentence or two that sum up your hopes for your business this year. Now, you have a clear statement of where you want to go, you can lead your business forward.

Set Goals

Those few sentences that hold your business vision might seem a little daunting but there’s no reason to feel overwhelmed!

Your vision is very closely linked to your goals but your goals are allowed to be a little more specific – in fact, it often helps when your goals are as small as they can be. Your vision is never going to be fulfilled overnight; it’s those small, specific goals that will keep your business moving towards the vision throughout the year.

Take apart your vision until you get it down to bit-sized pieces that can be ticked off during the year. Think about what you can be doing every day, week, month, quarter and year to be moving closer to your vision. The best way to make sure you’re doing this is by setting aside time to plan, create, manage and adjust these goals during the year.

Take apart your vision until you get it down into bite-sized pieces that can be ticked off throughout the year. What can you be doing every day, week, month, quarter and year to be moving closer to that goal? The best way to make sure you’re doing this is by setting aside time to plan, make, manage and adjust these goals throughout the year. Here’s a handy guide for you – make it your own and start smashing through your goals:

Seize Every Opportunity

You might have dreamed up the best year possible for your business, but what will you do when little unexpected things pop up throughout the year? We can plan all we like but unfortunately; we can never plan for the unexpected.

Whether it’s a setback or a wonderful opportunity, you need to be ready for anything. Be ready to see the best in a bad situation and use it to your advantage. When it comes to amazing opportunities, you might be in the right place at the right time, but if you haven’t prepared yourself, you could find yourself watching the opportunity sail right past you.

Success is when preparation and opportunity collide – don’t miss out on success for lack of preparation.
With these three easy steps, you’re on track for the best year in business you’ve ever had. Here’s to a new year of business!

In business, it’s important to start the year strong. Through our Business for Life program, we help business owners from across Australia build a toolbox of skills that they can use to grow their success. We’d love to chat about how we could help you. Call Bx on 1300 068 229 or find out about our Business for Life Program here.

Why Are So Many Small Businesses Failing?

Getting Ready to Change Starts with the Decision to do so

 

If you’ve ever ventured out on your own in the business world, it’s likely you’ve heard a myriad of statistics when it comes to the rate of small businesses failing within their first year of operation.  As it stands, the current figures in Australia are sitting lower than 2%. This is still cause for concern but many are adamant that it’s no longer the first year of business that small businesses need to survive, the danger point is now further down the track with more and more businesses bowing out in their third or fourth years.

So, what is it that small business owners seem to be missing when it comes to the business game?

Problem: Forgetting to work on the business.

Solution:  The first thing you need is a business plan, but many business owners often overlook this. How do you plan to reach your clients? What do you want to achieve through your business? Other questions like this should arise while you create your business plan so that you can have a clear vision of the future. Don’t forget to be flexible and willing to update your business plan throughout the life in your business life.

Problem: Overlooking personal and employee training.

Solution:  A lot of business owners take a business idea and run with it without thinking it through, but before they know it, they’re knee-deep in a business that they’re not properly trained for. As a result, they often have a ‘learn as you go’ approach to training which is not always a positive approach. Encouraging employees to learn more, defining their role clearly and making sure they’re on-board with the business vision will give them a natural desire to learn and receive formal training to be able to contribute at full capacity.

Problem: Ignoring the need for marketing.

Solution:  The digital age has brought a whole new world of marketing to the forefront of our minds. It’s now easier to get your business out there through the Internet and it’s easier to be overlooked in the oversaturation of advertisements.  Harnessing your social media and using it to advertise and connect could be the best starting point for your small business – it’s only on to bigger and better things from there.

Problem: Having no analysis strategies.

Solution: The first step to fixing this problem, is recognising it. Already you’re on your way to analysing your business! To make things easy for yourself, start with the most simple and widely loved analysis strategy – SWOT analysis.

–       Strengths

–       Weaknesses

–       Opportunities

–       Threats

By looking at your business through all four of these lenses you can start to work out where you need to improve and where you need to start taking action as well as the areas in which you can be encouraged by your performance. It’s a great way to think deeply about your business without getting overwhelmed by the bad points or distracted by the good.

If you can recognise any of these problems in your small business, it might be time to start implementing some solutions, one at a time, to get your business on the road to success.

 

Keys to Unlocking a Productive Day

Keys to Unlocking a Productive Day Bx Matt Alderton

Keys to Unlocking a Productive Day

Regardless of how many businesses you own, projects you’re starting or events you have on, each of us has exactly the same amount of hours in a day. This fact can either be inspiring or disheartening, depending on the way you approach it. The following four points should be your key to unlocking a powerful, productive day worthy of an entrepreneur.

Setting Goals

Some think that it’s better to just glide through life and see what happens, without setting any goals. Unfortunately, that’s not realistic and it’s not something that entrepreneurs do. When it comes to creating these goals, the S.M.A.R.T method has become extremely popular and for good reason – it works!

  • Specific – be clear and direct, there’s no use being vague.
  • Measurable – Measure your goals so you know when to celebrate success.
  • Attainable – aim high but be prepared to adjust your goals as you go.
  • Relevant – create goals which match your vision for your business.
  • Timely – set deadlines.

Create Systems

Have you ever done anything more than once? If there’s some task that you find yourself doing over and over again, systemise it. You can’t afford to be spending that time repeating a process over and over again when you could be making headway on a less menial task.

Do you ever feel like you can’t go on holiday or get sick? If you feel like your business will fall apart without you, it might be time to think about implementing some systems. Without systemising, delegating and automating, you start to become the business. It means you’re just making more work for yourself when you could be utilising the resources at your fingertips.

If you leave it too long, you could find that you are the only person who knows how to do a particular task and, when you hit a crisis, the burden will be on your shoulders. Instead, share the load – whether that’s with technology or with your employees – and don’t wait until you hit that crisis, create systems and process now so that they can steer you smoothly through the dangerous waters later.

Time Management

Funnily enough, being productive is not actually a talent, it’s simply a result of being organised. Time management comes under the organisation umbrella and it’s something that very few manage to master.

“Don’t say you don’t have enough time. You have exactly the same number of hours per day that were given to Helen Keller, Pasteur, Michelangelo, Mother Teresa, Leonardo da Vinci, Thomas Jefferson and Albert Einstein.”

– H. Jackson Brown Jr.

There are hundreds of tips out there and, if we’re honest with ourselves, not one of those is going to be the magical solution to all your time management problems. Everybody’s days look different but you need to know what yours looks like to work out how you can improve. Using Google calendars or a similar app can mean that you can see your week at a glance.

Knowing your limits when it comes to your time can also be crucial. If you know when to say ‘no’ to opportunities (great as they may be), it gives your ‘yes’ a value boost.

Support Network

Networking for your business is invaluable, but it will never beat the network you already have. Scheduling time to spend with your family and friends means that you get a great balance in your day and a safe haven away from the uncertain business world.

These four key points are all crucial to creating a week that maximises productivity, moves your business forward and gives you a great work/life balance. Carving out time to put these points into practice could be the jump start you need to create a productive working week.

www.businessforlife.com.au/b41-program/

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Making the Most Out Of Education Events

If you are attending any self-development or business education events such as the upcoming B-xponential, the key to success is making sure you take responsibility for getting value from the experience.

At education events, the ‘a-ha’ moments can surprise you.  The most interesting, informative and educational moments may not be spent in the sessions themselves: sometimes it’s in informal interactions with other attendees.

The lectures, talks, and panels might providevent heroe some new ideas, but can be one-directional, and you can get the slides or books by the speakers later.

Yet the unique, personal, and insightful conversations you have can only take place with other people and can only happen at the event, which means you need to invest time in connecting with other people.

Also, ensure you contribute and participate. Ask questions from the  floor of the speakers or panel if you have the opportunity. Make notes of any ‘lightbulb’ moments in your event guide or – for maximum efficiency – use a tool like Evernote to set up digital notebooks, snap screenshots of the speakers’ presentations, and import direct into the application. It means all your lessons and ideas are in one place and you’re not scrambling around with loose notes. You can also snap business cards into Evernote too, so you can track who you connect with at the event.

Some events, like B-xponential, offer follow-up sessions with experts. You typically have to pay extra to attend these but it can take your learning to whole new level, as well as keeping you surrounded, motivated and inspired by a like-minded cohort.

 

Plan ahead.

A day before the event, sit down with the proceedings and the small guidebook or agenda that they often provide you with. Go through with a pen, and mark anything that looks interesting. If you find things that sound cool but vague, flip open the proceedings and check them out. Circle all of the sessions that look interesting, and if two or more occur at the same time, flag the one you want to go to first.

 

Plan to be social.

Even if you are an introvert, it’s worth stretching yourself. By making  initial connections, you’ll be able to jump in on some conversations and meet more people. If you can get into the right mindset, you can have a lot of fun socialising and sharing between different groups.

 

Relax.

You will learn much better by having fun and enjoying the people I’m with. You can’t do that if you are fixated on getting to every session on time, or not staying out too late, or trying to achieve any specific objective.

By  relaxing and enjoying your time away from the office, you will be more open to new ideas and approaches for what to do when you  get back.
The primary reason to attend such events is to learn. It’s your job to figure out what kind of environment and state of mind you need to be in to best facilitate that objective.

 

There’s loads of tools to get your website working harder and your marketing to get results. Bx coaching can help you find the right tools for your business and pave the way for your success. Call Bx on 1300 068 229 or find out about our Business for Life Program.

How to Hire New Employees to Help your Business Soar

Taking on new employees can be a scary decision for many small businesses. There’s a sense of responsibility that comes with committing to pay someone on a regular basis and the worry that your business might not grow enough to support another team member.

And yes, there is no doubt that taking on a new employee is a balancing act. If you hire someone before they are needed, your profitability can take a hit. But on the flip side, if you don’t add a team member soon enough, how will your business grow?

 

Here’s some of our tips for taking the leap of faith to hire new team members so that your business can reach new heights.

When to hire new team members

It can be hard to know when it is the right time to hire a new team member. But ultimately, it all comes down to planning. If you have a plan for your business and the growth goals you want to achieve, that will help you to determine what resources you need to achieve that growth.

The immediate trigger for hiring a new employee is freeing up your own time as the business owner to retain your focus on high-level strategic decisions. For many businesses, including my own, a first hire is often a bookkeeper. This allows someone else to take on responsibility for day to day administrative tasks like invoicing and chasing bill payments, so that you can focus on reviewing the big picture and dedicating time to revenue-generating action.

By getting the right people on the bus – in the right seats (i.e. in the job roles that best suit their skills and experience) – you can concentrate on driving towards your ultimate destination. If you don’t know what that destination is, you need to take some time to plan and set goals for your business!

Don’t forget training

The other vital element in hiring employees is making sure that they have appropriate training. Just because somebody has experience in similar businesses doesn’t mean that you should leave them to sink or swim.

There are three key elements to any employee training program:

  1. Induction Training: This includes practical training on your businesses systems and processes. It should also cover background on the business and any HR policies. For example, how do you answer the phone or greet customers? What is the procedure for taking an order? Induction training should cover all the basic elements that will allow a new employee to have the best possible start.
  2. On-the-Job Training: Ideally, this is buddying up with another team member to explain any processes and procedures in more detail. In a café, this might mean watchinMatt Alderton, Bx, Business for Life, B-xponentialg the buddy serve a customer, then serving the next customer under supervision. Or in an office environment, this could take the shape of shadowing the buddy on a customer call.
  3. Ongoing Training: Providing ongoing training in a variety of areas to build the skills of employees helps to keep your team engaged and interested. Many businesses are reluctant to train people due to the fear that they will take their new skills and leave for a better job, but ongoing training has been demonstrated to improve employee retention. Besides, what’s the alternative – you don’t train employees and they stay? Do you really want unskilled staff? Provide training in the areas of personal development, leadership, specific skills like selling and customer service, or any other areas that are relevant to your business.

Are you wanting to expand your team but don’t know if your business is ready? Or have you delayed hiring and felt your business struggle to cope as a result? We’d love to speak about how we could help your business to improve its performance. Call Bx on 1300 068 229 or find out about our Business for Life Program.

Plan like a Pro for your Best Year Ever

There’s lots of quotes about planning that we’re sure you’ve all heard, like “if you fail to plan, you plan to fail.” And maybe right now you are rolling your eyes and thinking “I’m just so busy running around getting the day-to-day stuff done – I don’t have the time to plan.”

Well, here’s the tough love: not having the time to plan and focus on your business is EXACTLY why you do need to plan. Without a plan, it is impossible to prioritise your time and focus on what is important to you, your business and your life.

Put simply – you must plan for success.

Know and manage your prioritiesPlan like a Pro for your best year ever

Planning allows you to determine what is important. It helps you figure out the ‘big rocks’ – those important, must-do tasks, that will give you the greatest return for your time and drive your business forward. When you know what is important, you are less likely to fall into the trap of forsaking these tasks for what is urgent.

We recommend the priority matrix for managing distractions and regaining control of who and what gains your attention.  Using a matrix of what is important and what is urgent, you end up with four quadrants.

Quadrant 1 – Urgent and important: These are the tasks you do straightaway

Quadrant 2 – Important but not urgent: These are the tasks that you plan when you will do them. Set a date and create an item for them in a task management

tool, such as Asana.

Quadrant 3 – Urgent but not important: These are the tasks that you delegate to someone else, freeing your time to focus on the important tasks. Again, use a task management tool to delegate and track progress of these tasks.

Quadrant 4 – Not urgent and not important: Dump these items. Delete the email, throw out the letter, or whatever, and keep moving forward.

A practical approach to planning

Each day, week, month, year, you need a plan to prioritise and manage your time. This is how we do it.

  • 10 minutes at the beginning of each day
  • 30 minutes to plan for the coming week, typically at the end of Friday
  • 1 hour to plan for the coming month, during the last few days of the month
  • 1 day planning for the coming quarter, during the last week of the current quarter
  • 2 days planning for the year ahead, during the last few days of December
  • 1 day every year reviewing life goals

We recommend that your three big goals for the year, quarter and month are written down and stuck somewhere visible. The more you see and absorb these goals, the more you will take action to achieve them.

 

Are you ready to take back control of your time and your business? Do you need help figuring out where your business is going and how you’re going to get there? We’d love to speak about how we could help your business to improve its performance. Call Bx on 1300 068 229 or find out about our Business for Life Program.