Where Does Your Business Fit?

Most business owners either start or buy a business so that they can be their own boss, do something their passionate about, have the personal freedom to do what they want, when they want.

However, the many business owners we've talked with are saying things like:

• It's taking longer than I thought it would. It's harder than I anticipated.
• The money's not great for the effort I'm putting in.
• I'm always busy and often stressed.
• I have to fix most of the issues myself.
• I feel quite alone and isolated.
• I don't really any more time, and sometimes I feel I don't want to do this anymore.
• I feel like I have a good business, but need some new ideas to take it to the next level.

So what happened to the dream?

The problem is not the owner of the business. The issue is that many started out as a "technician", being highly skilled in a certain field, product or service. As the business grows they need other skills that they may not have.

Over time the business moves from being a profitable small operation to a larger one that either loses money, or only pays basic wages to the owner, with no additional profits or dividends.

In many cases they have to dip into their home equity or borrow on credit cards hoping that tomorrow will be better.

Without a clear understanding of all the principles that make a business successful, the financial situation often doesn't change and the business just drifts from year to year.

Where Does Your Business Fit?

Do you feel like a WORKER, OWNER or DIRECTOR in your business?

Your answer to this often reflects whether you are in Rescue, Improve or Grow.

5% of owners receive generous salaries. Business pays large dividends. Owners work on the business, not in it. This is a very valuable business.

20% of owners receive generous salaries but no dividends. They work in the business. This is a low value business.

40% of owners receive a very low paid salary, with no dividends. They have a high mortgage as the business continually needs cash. No value in this business.

35% of owners receive no salary or dividends, they live off the equity growth in their home. The business loses money, it has no value. Imminent failure.

The Business Triangle

Most owners start their business with a product or service (at the base of the triangle) and they find customers to buy them e.g. using word of mouth and the internet or social media. Once these sales and marketing tactics have established the business, the owner finds they need to manage their finances as expenses and wages start to eat away at their profits.

This is when the owner needs to start controlling all areas of the triangle otherwise the business will start controlling the owner.

Because most owners start as a "technician" in their business, the focus is usually on the day-to-day operational elements (red areas). Often this leaves very little time to plan for growth by working on the strategic elements (green).

The "Strategic Elements" (green) are where the owner works ON their business starting with a clear path for growth towards their vision. The strategy needs developing to take the business towards its vision. Getting the rest of the business on-board is achieved by ensuring the structure and culture is aligned to this new direction. This planning process will change the way the day-to-day activities are approached and improved. Without time spent on the Strategic Elements, businesses tend to get bogged down in the day-to-day running and do not achieve their growth potential. Not only is the owner unclear on how the business will grow, there is usually no plan that spells out to the staff where the business is going and the role they will play in getting there. In this scenario, the owner finds themselves fighting fires rather than proactively growing the business.

The "Operational Elements" (red) or day-to-day running of the business that takes up most, if not all, of the owner's time. The Operational Elements are where our unique "Business Diagnostic" will find strategies to increase the income the owner is taking out of the business.

This can be quite substantial if the business has been operating for a long period of time.

Delivering The Business Owner's Vision in 3 Simple Steps

Having the right plan and committing the time and resources to making it happen, will finally provide you the life you dreamt of when you started your business.

With the right plan, everything changes:

• You make more right decisions and less of the wrong ones.
• You have a clearer direction of where you are going.
• You are more accountable.  So your Team is more accountable. So your Business is more accountable.
• Your Business provides a better lifestyle for you and your family.
• It grows into a valuable asset.
• You have more time.

The Business Success Programme provides a structured framework to deliver the income you want from your business.

Our programme has been designed to positively transform any business whether in Rescue, Improve or Grow situation.

Step 1 - Book Your Discovery Call (60 minutes)

This session will help us to identify your business challenges and mutual suitability.

<< Book A Discovery Call>>

Step 2 - Business Diagnostic (120 minutes)

This session is to identify what is causing the challenges; quantify the profit leakage and discuss potential solutions.

Once you've seen the Business Diagnostic you'll have a far better understanding of where your business sits in the business triangle and how to build a plan that takes your business into the top 5%.

Through identifying your income potential and implementing a clear business growth plan, your business will start to move up the Triangle.

Step 3 - Course of Action (60 minutes)

Receive your customised proposal with detailed action plan to address the challenges.

You have nothing to lose from this initial chat & everything to gain.

For further information, you can download our brochure or send us an email to hello@bbcs.ie or a direct message.

<< Download Business Success Programme Brochure>>