The longer you’re in business, the more the stats are against you

The longer you’re in business, the more the stats are against you

by | Mar 28, 2024 | Business Chaos, Business coaching for women, Peak Performance, Profitability and business growth, Smart Growth

We’ve all heard the statistics when it comes to success or failure in business for startups (in case you haven’t, 60% of businesses will fail within the first 3 years*). 

But did you know the longer you’re in business, the more stats are against you?

Research shows that 80% of businesses will fail within 20 years⍏. 

My jaw dropped when I first read this. There’s so much focus on getting through the early years of business but there seems to be less emphasis on the seasoned businesses that have been around the block a few times. 

You’ve got the war wounds to show from turbulent times. The trophies in the pool room from the glory days. And apparently, you’re not out of the woods even with your many years of experience.  

Want to know the main reasons businesses fail^?

  • Lack of staff training
  • Business owners getting stuck in day-to-day operations 
  • Not having a strategy in place
  • Poor cash flow management

The best thing about these reasons for failure? Every single one is within your control! 

With the right blueprint and knowing where to focus your and your team’s attention, future proofing your business becomes easier. 

But here’s the thing, if you don’t address these potential pitfalls you could wind up being another sad statistic. 

You could be on the path to resenting your business, hitting the burnout wall or having to walk away from your business entirely. 

What are you doing today to upskill and support your team, to get unstuck from the day-to-day weeds, and be proactively strategic and planning for profit in your business?

If you don’t know where to start, we’ve created a Smart Growth Blueprint which you can access via this quick (60 second) survey. 

Here’s to thriving in business, and life! 

*Sources: Australian Bureau of Statistics; ^The Australian Securities and Investments Commission; ⍏Clarify Capital

Nicky is a Sales and Business Leadership Coach with over 2 decades experience in sales and leadership. She’s been running successful coaching businesses since 2015 and is obsessed with helping business owners and teams thrive. She helps her clients install smart business growth strategies and leverage leadership for peak performance.
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Breaking Free from the Busy Trap: Prioritising Life for Success

Breaking Free from the Busy Trap: Prioritising Life for Success

by | Feb 1, 2024 | Profitability and business growth, Smart Growth

Unless you’re brand new to leadership or business, you already know that taking a step back to plan strategically is a game-changer for long-term sustainability and success. 

But nobody addresses your key problem – even though you know that to be true, chances are you are caught in the busy trap and if you do get time to step away from the business, it is taking you away from time with your family and friends.

How do you prioritise setting aside dedicated time for proactive planning?

The key is to focus not only on planning for the business but also on carving out space to prioritise personal goals. 

I’ve seen (and experienced) this approach, where you prioritise what’s important in your life alongside all the business objectives and Key Performance Indicators (KPIs).

What goes in hand with that shift, is a reframe of the belief that ‘there isn’t enough time’. 

Hanging onto this “excuse” (harsh, but true!) will become a barrier for you, leading to a constant struggle stuck in the whirlwind of daily activities. 

A shift in perspective is crucial. 

Instead of thinking about the lack of time, consider how to make the most out of the available time in a strategic and effective manner.

One of the ways we do this is by using a framework, we call the True North wheel. 

This model integrates three core components: business growth, managing finances, and prioritising life. 

The synergy between these elements creates a well-rounded strategy that not only propels business success but also enhances the overall quality of life.

And this approach can be shared with your leaders.

When you sit alongside your leaders and share your priorities (including life priorities) there’s deeper accountability, support and empowerment within the team.

I put the challenge out to you… in the next 24 hours identify one activity that contributes to prioritising your life. 

This could range from scheduling personal appointments (the doctor visit you’ve been putting off or the overdue haircut?) to planning fun activities outside of work (breakfast with your family perhaps?). 

Want extra points because you’re a high achiever? 

Extend this challenge to your team members, encouraging them to incorporate self-care and life priorities into their schedules.

Ultimately, the aim is to create a culture that values both professional success and personal well-being. 

As a business owner or leader, acknowledging the importance of prioritising life not only fosters a healthier work environment but also attracts and retains top talent. 

The ripple effect of this approach leads to enhanced engagement, reduced burnout, and a more fulfilling experience for everyone involved.

And that is what makes achieving your goals so much more fulfilling.

Ness is a money coach, helping businesswomen like you gain clarity over your financial goals, building wealth and financial security for themselves.

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Navigating the Feast and Famine Cycle in Business

Navigating the Feast and Famine Cycle in Business

by | Nov 28, 2023 | Business coaching for women, Money Mindset and Management, Profitability and business growth, Smart Growth

As a successful businesswoman, you’ve conquered numerous challenges so far:

  • Started your business and been going long enough for it to be a viable and ongoing concern
  • Grown a team, because let’s face it, your clients need and want what you have to offer
  • Juggled the balance of work and home life (sometimes, not very successfully but the kids/pets are still alive and you have a healthy waiting list of prospective clients)

And yet, when you look at your bottom line, the profit margins (aka money in your personal bank account) just aren’t showing up as you expect and want them to be.

Yes, you can tweak some expenses, perhaps look at increasing your prices but when you feel like you’ve pulled all the levers and you’re still not feeling rewarded sufficiently for your hard work, then you’re missing a key point.

And this is it – there’s a silent, somewhat uncomfortable, barrier standing between you and your next level of success: your money mindset.

And now is the time to address it, head-on.

Your money mindset is like a silent puppeteer pulling the strings, and if you’re not careful, it will hold you back from creating the financial success you know you’re worthy of.

Your money mindset is this intricate blend of upbringing, culture, family vibes, and life experiences.

It shapes your financial DNA, influencing how you view money, wealth, and success.

Rewind to your childhood… what money messages were whispered in your ear? 

For me, it was phrases like “money doesn’t grow on trees” or “you have to work hard for your money” – innocent at first glance, but they built a foundation of money beliefs that I had never stopped to question.

Your money beliefs are like a fingerprint, unique to you based on your life adventures, experiences, role models and upbringing.

The bad news?

Your current results are influenced by your current beliefs.

The good news?

Your money beliefs aren’t carved in stone; it’s just a vibe you have until a breakthrough happens. 

Recognising and challenging your beliefs is the secret sauce to propelling your business forward.

So if you are feeling stuck or experiencing a plateau, here’s your call to action: 

  1. Grab a pen and paper. 
  2. Jot down the money belief that’s been pulling the strings right now (i.e. anything that comes after you say the words, I’d be better off financially if/but…)
  3. Ask yourself the following questions:
  • Is it gospel truth?
  • What if it’s not?
  • What could be a better belief right now?

Challenge your beliefs and notice the impact it has on your bottom line.

If you want some extra help, feel free to reach out. 

Helping women break through their money story and build wealth for themselves into the future is something I can talk about until the cows come home!

Meet Nicky & Ness

Double your chance of success with two experienced Business and Leadership Mentors.

Nicky and Ness are obsessed with helping install smart business growth strategies - without the hard -core hustle and leveraging people leadership for peak performance. 

They are two savvy business women who have come together with a shared vision, bucket loads of passion and a burning desire to change hustle culture.

Underpinning everything they do is making sure you’re thriving now and able to thrive into the future as the world continues to change around you.

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Demystifying High Performance

Demystifying High Performance

by | Nov 16, 2023 | Juggle Street, Peak Performance, Profitability and business growth

High performance is a buzzword in business, but have you ever stopped to really think about what it means for your team?  

Let’s break it down so that you can easily empower your team to unlock their full potential.

Nothing has meaning except the meaning we give it.  

In our conversations with clients (and on our poddy which you can check out here), you’ll often hear us talking about peak performance. Understanding and being aligned with your definition and meaning of high performance as a team is a critical part of this equation. 

Because here’s the thing: high performance can mean different things to different people. It’s one of those words that can have a dozen interpretations.

So getting on the same page is an absolute game-changer. 

It’s not just about saying you’re a ‘high performing team’; it’s about 1. defining what that means, 2. working towards it, and then 3. seeing the benefit of aligned outcomes.

Think of it like creating a blueprint of success for your team to follow. 

It sets the tone for your business culture. 

And it’s the difference between a team that’s burning out in the name of success or one that’s thriving without the burnout.

Introducing 70-20-10 

We use a trusty model created by Andy Meikle that breaks down high performance into three parts: 70% is about results, 20% is about being a person of influence, and the remaining 10% is being a person of grace.

Results: 

This part is pretty straightforward – it’s all about the numbers, the goals, KPIs and the measurable outcomes in business. 

The real magic happens when you overlay the 20% of Influence and the 10% of Grace on top of Results!

Influence: 

Being a person of influence takes into account your behaviour, values, and contributions to the overall team’s success. Are you open to feedback and coaching? Do you share your success strategies and support your colleagues? This is what creates a culture of high performance.

Grace:

The last 10% is the internal stuff, your attitude, resilience, and how you handle the tough days. It’s about staying composed and not letting stress get the better of you affecting your impact on the people around you. 

If you take one thing away from reading this article, let it be that high performance is not just about results, it’s also about how you achieve them and the environment you create.

So, what’s your definition of high performance and how do you know it’s the same as your team? 

There’s only one way to find out the answer to these questions and it’s to have the conversation as a team and write down what your collective definition of high performance is. 

Following the 70-20-10 model is a simple way to get the conversation started.

Nicky is a Sales and Business Leadership Coach with over 2 decades experience in sales and leadership. She’s been running successful coaching businesses since 2015 and is obsessed with helping business owners and teams thrive. She helps her clients install smart business growth strategies and leverage leadership for peak performance.
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Unlocking the Power of Sales and Marketing: A Profitable Partnership

Unlocking the Power of Sales and Marketing: A Profitable Partnership

by | Oct 19, 2023 | Business coaching for women, Profitability and business growth, Sales Mindset, Smart Growth

Let’s dive into one of my favourite topics – sales.

Well more specifically I want to explore the symbiotic relationship between sales and marketing.

When you align your sales and marketing efforts, magic happens.

That magic can look like achieving up to 38% higher conversion rate, a 36% increase in customer retention, and saving 30% on customer acquisition costs. That’s impressive, right?

Translated, that’s money staying in your back pocket!

And yet, businesses tend to focus on getting marketing plans in place, overlooking the importance of a dedicated sales strategy.

Sales and marketing strategies are distinct, and understanding this difference is crucial.

Why does a marketing and sales strategy matter?

During my early days in business, I experienced a sudden drop in revenue after consistently earning $40,000 per month.

It felt like I was speeding toward a cliff with no time to build a bridge across it.

That bridge, my friends, is your pipeline – the lifeline of your business.

Relying solely on word-of-mouth referrals is risky. 

It leads to reactive decisions, discounting, and chasing the wrong clients. It can lead to a scarcity mindset that you need to overcome, or better yet, avoid altogether.

What comes first, marketing or sales? 

The truth is, it’s not about one preceding the other; it’s about understanding they go hand in hand. We must break free from linear thinking and embrace their interdependence.

The more important question is, which do you have – a marketing or sales plan?

Pssst.. Your answer needs to be ‘both!’

In our growth pipeline model (which you can grab here), there are three key components to both effective sales and marketing: Plan, Execute, and Evaluate.

Today, we’ll focus on sales planning. 

Regardless if you have a team handling sales, or you’re still at the sales helm, it’s essential to create a simple sales plan (and by the way, it does NOT have to be complicated!).

1. Examine the current shape of your business. The current shape involves looking at your past performance. For example, analyse revenue by client segments, services, or industries. Identify which clients, services, or industries contribute the most to your revenue and where the gaps are.

2. Next, define the future shape of your business. Determine your growth goals and what you want to change or maintain. Perhaps you want to focus more on a specific client segment or industry. Maybe you want to increase revenue from existing clients.

TOP TIP: To simplify this process, think of three key aspects: which client segments or revenue streams you want to grow, maintain, and acquire (aka business growth).

Set specific goals for each category based on your analysis in points 1 and 2. This approach provides a clear path for your sales and marketing efforts to follow.

Be sure to include the above insights into your marketing plan and that your marketing and sales teams speak to each other and collaborate in their efforts.

Remember, sales and marketing are not isolated entities; they’re your business’s dynamic duo. 

Embrace their partnership, set clear goals, and the result? Sit back and watch your business thrive.

Ps. Be sure to do the Pipeline Audit here.

Nicky is a Sales and Business Leadership Coach with over 2 decades experience in sales and leadership. She’s been running successful coaching businesses since 2015 and is obsessed with helping business owners and teams thrive. She helps her clients install smart business growth strategies and leverage leadership for peak performance.
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From “Ugh” to Unstoppable: Ignite Your Business with a Personal Vision

From “Ugh” to Unstoppable: Ignite Your Business with a Personal Vision

by | Sep 7, 2023 | Business Chaos, Business coaching for women, Profitability and business growth, Smart Growth

Are you hustling to make your mark in the business world? 

How does your personal vision contribute to these business results? 

Now, I know you could be thinking, “Hold up, I’ve got my business vision down, isn’t that enough?” 

Stay with me because we’re about to take a deep dive into why having a personal vision as well as a business vision is like adding rocket fuel to your business success.

Picture this – you’re steering your ship in the vast sea of entrepreneurship, and that ship is your business. It’s got a solid compass guiding it – the business vision. 

But here’s the twist, you need your own True North to direct you, navigate uncharted waters, inspire you in uninspiring moments of business and keep you afloat as you conquer the storms that come your way.

Your business is a vehicle to help you move towards your personal vision. But business isn’t just about numbers and goals. 

It’s also about the emotional connection, the “why” that fuels your soul. It’s about digging deep to stay connected to your why in those moments when you need a pep talk to push through those “ugh” days. 

Here’s another way to look at it… your business vision is in neon lights, it’s on all the billboards for as many people as possible to see. 

Your personal vision is the quiet force within you. It’s your secret weapon that tells you why you’re doing all this in the first place. 

As an example, my personal vision revolves around building a lifestyle for my loved ones and I to enjoy and give back to causes I care about. It’s about those epic family vacations, being able to say yes to things, and making a real impact where it matters.

Your personal vision isn’t about fancy words; it’s about what tugs at your heartstrings. It’s your chance to connect the dots between your business success and your personal fulfilment. 

So, here’s what I want you to do. 

Grab a cup of your favourite tipple, sit down and get curious about what truly lights up your soul. 

Ask yourself..

  • What’s my True North? 
  • Why do I do what you do?
  • Why do I really do what you do?
  • Why do I really really do what you do?
  • Think back to why I went into business in the first place; is this reason/feeling still present in my day-to-day life?
  • Does my why still inspire me on the tough days?

If you want a hand going deeper, you can grab the Create a Compelling Vision Playbook here and let us know how you go!

Nicky is a Sales and Business Leadership Coach with over 2 decades experience in sales and leadership. She’s been running successful coaching businesses since 2015 and is obsessed with helping business owners and teams thrive. She helps her clients install smart business growth strategies and leverage leadership for peak performance.
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