What does your COMPASS say?

What does your COMPASS say?

by | Nov 30, 2022 | Business Chaos, Business coaching for women, Busy Trap, Juggle Street, Peak Performance, Profitability and business growth, Smart Growth, Time Freedom

Do you remember when you made the decision to start your own business?

I do, it was freakin scary but I just knew I needed to take the leap.

Not only had I found something I loved doing (coaching), I was really good at it and I wanted to work with anyone and everyone who needed help.

But just like you, the more years in business, the more challenges we face and that initial excitement wanes.

There are pockets of time when we wobble, feel lost and wonder if we have the energy to keep going.

Funnily enough, the more success we have in business, the more pressure we put on ourselves to keep it up.

It might look something like this…

Externally – it looks like we’re smashing it, a growing team and a growing reputation

Internally – we realise that success in business is solely reliant on us being hands-on

Externally – we’re skilled at our craft and our clients rave about us

Internally – it feels chaotic and the performance of our team is inconsistent

There are just so many moving parts and we’re in the thick of it so we can’t see what we need to fix. 

All we know is, if nothing changes then perhaps it’s time to close up shop.

But wait!

Don’t give up – there is a solution…

It’s about removing the emotion and taking a snapshot of where things are at right now so you can make clearer decisions.

Uncover your strengths and your opportunities, understand what’s holding you back, and discover your blind spots.

Then make a plan to move out of chaos and back to clarity.

The model that Nicky and I use when we help businesses with this is COMPASS

C… Culture

the big picture – vision, purpose, values, goals, expectations, rewards

O… Operating rhythm

business structure, planning, key performance indicators, processes

M… Mindset

responsibility, ownership, transparency, self-reflection, excellence

P… Profitability

accounts, expenses, price reviews, money mindset, A-level clients

A… Action with Purpose

standards, client feedback, boundaries, test & measure, work-life balance

S… Sales

revenue targets, upselling, sales activity, sales skills, onboarding

S… Skills

feedback, coaching and development

And the process we use is the Business Health Check.

If you need help, click here to have a chat and see if it’s time to readjust your compass. 

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.

GET IN TOUCH

Supercharge Your Business!

Join us to receive expert podcast episodes and tips on how to achieve the work-life balance you've been craving while still watching your business grow.

Know that when you ask for help it isn’t shameful

Know that when you ask for help it isn’t shameful

by | Nov 3, 2022 | Business Chaos, Business coaching for women, Busy Trap, Juggle Street, Peak Performance, Profitability and business growth, Smart Growth, Time Freedom

In the world of social media, where only the best image of a business is shared, it’s easy to drop into comparisonitis.

The danger here is feeling ashamed of where you’re at.

Buoyed on by the belief that you “should be” at a different point, whatever that made-up story is, it’s a recipe for disaster.

The biggest danger we face is being too proud to reach out and ask for help.

In 2021 banking experts at The Bank of Queensland found the top reasons why 20% of small businesses fail in their first year (and 60% within five years). Included in the top 10 were:

    • Not having a business plan
    • Financial mismanagement
    • Growing too quickly
    • Failing to hire the right people
    •  Not asking for support

It’s kinda like going on a 100km hike without doing any research or training beforehand and hoping for the best.

That’s just setting yourself up to fail. And get killer blisters!

Rewind the clock to September 2013, I had just left my safe government job to start my own business. 

In the first three months, I did many coffee dates. 

I spoke with absolute passion about coaching and how I could help businesses and leaders.

The people I spoke to were encouraging and supportive. 

And I made no sales. 

The shame I felt at making a huge deal about starting my business and looking down the barrel of failure kept me awake, dripping in worry each night.

My saving grace? 

Hiring a business coach I couldn’t afford.

But I knew that without help, I was going back to my day job.

And that just wasn’t an option I was prepared to take.

My logic held me in good stead – I only needed one client to pay for him and another to cover my mortgage. 

Anything beyond that was a bonus.

Looking back on that decision, it was the best decision I made.

It moved my business results to multiple six figures within a year of working with my coach.

And saved so much stress and hard work.

What results could you change by getting out of your own way and asking for help?

If you’re wishing and hoping for better results in your business, Nicky Miklos-Woodley and I help female founders, with a team, to thrive in business.

We help you avoid all those dot points above. 

If you want to find out if working with a business coach is the right thing for you, book a free 20-minute clarity call here.

We promise you’ll leave knowing the #1 thing holding you back from creating a business you love whilst still having time to enjoy life!

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.

GET IN TOUCH

Supercharge Your Business!

Join us to receive expert podcast episodes and tips on how to achieve the work-life balance you've been craving while still watching your business grow.

2 ways to stop leaving $$ on the table in your sales conversations!

2 ways to stop leaving $$ on the table in your sales conversations!

by | Oct 25, 2022 | Business coaching for women, Profitability and business growth, Smart Growth

Deep down you have an inkling that you’re missing out on opportunities. But I’m guessing you’re not exactly sure what’s missing, or what to do about it?

Okay okay, so you’ve heard me talk about the importance of having a solid sales process in place (and if you forgot or missed this soapbox moment, check out this article). 

There’s two key parts of the sales process I want to highlight today that can really help make sure you’re not leaving money on the table when connecting with your potential clients. 

Let me introduce you to my little friends, Convert and Nurture (again a part of the sales process outlined here). 

Take a moment to imagine what it would be like if you didn’t have to worry about being ‘too pushy’ or  ‘how many times is too many times’ when following up on sales meetings and calls.

A quick stat to get you in the headspace of converting conversations to clients…. 80% of sales require 5 follow up calls after the sales meeting. Yep. You read that right! 

Yet  44% of people give up after the first follow up. Uuuummm.. money left on the table am I right!?

Do you follow up a potential client you’ve met at least 5 times after the meeting!? 

May I be so bold as to ask.. why not? 

I’ll take a stab in the (not so) dark and say it’s because it feels awkward, you don’t want to be annoying, disrupt people or come across as desperate. 

Well I’m here to tell you statically if you’re not following up 5 times, you are leaving money on the table. 

“The money’s in the follow up people…” said many sales experts and leaders. 

And they’re right! 

It doesn’t have to be awkward, disruptive or desperate!  

Truth bomb: You’re making it that way 🤦‍♀️

Here’s what you can do instead. Think about how you can make the follow up interesting, fun, different… you’ll enjoy it more and so will your client. 

And if that doesn’t get your motor going, bake it into your sales process so that it becomes something to tick off a very satisfying checklist. 

Some ideas to get you started;

  • Phone call. It’s a classic and go with this first as it’s the highest touch point! TOP TIP: Even better to book a follow up phone call or video meeting before you end your sales meeting so it’s already in the diary
  • Voice note on LinkedIn, Insta, Messenger or Text (wherever your client hangs out). This is my new fave and not everyone is doing it, yet. So it’ll get you the right kind of attention
  • Loom video in an email (or text). A great personal touch. The more your prospect sees you, the more trust and likability you build. Just make sure you’re smiling and you make eye contact with the camera. 
  • Email. Another classic but also an easy place for you to hide. So use email sparingly and with a mix of other mediums
  • Post. Oooh an oldie but a goodie. Send a book that would be valuable and that links to the work you’ll be doing together. You could also send a thank you card, or a treat to enjoy (if you’re in tropical Qld remember chocolate might melt!). Get creative. 

Okay now that’s sorted and you’re following up with your prospects at least 5 times (and dare I say, enjoying it!?), another way you could be leaving money on the table is by not asking for referrals. 

91% of customers say they’d give a referral. Only 11% ask for one. 

Read that again 👆

So let’s keep this one real simple. 

Ask for a referral. 

Remember when I said we make it awkward for ourselves when following up on a sales call? It’s the same here. We overcomplicate asking for a referral because we feel weird about it. 

What would you say if someone asked you? Especially if you loved their brand, their work, service, the people? 

You’d get your thinking cap on and see who you could connect with them. 

BTW this doesn’t have to be only for clients who you’ve worked with. 

You can ask ‘not-a-fit’ or ‘not-now’ prospects if they know anyone in their network that would benefit from an introduction.

Here’s your mission, should you choose to accept. 

  1. Include minimum 5 follow up touch points in your Convert strategy
  2. Contact 3 clients today to ask them for a referral introduction
  3. Make sure you have a sales process in place (read this article if you don’t know where to start) and include points 1 and 2 so that it’s consistent and streamlined without relying on your memory, or how you’re feeling that day! 

I’ve created a Sales Review which is a super quick and easy way for you to get a helicopter view of your business sales strengths and gaps… in under 4 minutes. Grab it for 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.
BOOK A CHAT WITH NICKY

Supercharge Your Business!

Join us to receive expert podcast episodes and tips on how to achieve the work-life balance you've been craving while still watching your business grow.

I didn’t pay my best employee

I didn’t pay my best employee

by | Oct 4, 2022 | Business coaching for women, Money Mindset and Management, Profitability and business growth, Smart Growth

As far as employees go, she was the most exceptional one you could ever meet:

  • Turned up to work early and stayed late
  • Went over an above expectations day in, day out
  • Lived and breathed the values, the epitome of culture in my business
  • Would put in more than 100% effort because she believed in my business

And yet, I didn’t pay her.

And when I did eventually pay her, it barely covered her living expenses, let alone any luxury that she so desperately deserved.

If this was true, you’d think I was crazy right?! 

I mean, aren’t we meant to reward our best employees with great salaries and a bonus system to keep them loyal?

But according to research by the Australian Women Chamber of Commerce & Industry, in 2013 they found that 51% of women small business owners do not pay themselves a wage.

And the conversation I have with women business owners tells the same story.

Like the client who has run a successful business for nearly 10 years, employs 14 staff and works crazy hours only to barely cover her mortgage payment with her wage.

This has to change!

If you’re in a similar situation, then it’s time to shift your mindset.

Often we think that our profit as the business owner comes from the old accounting system of

INCOME – EXPENSES = PROFIT

However, we need to flip this around. Instead, think of it as:

EXPENSES + PROFIT = INCOME 

Whether you place your income in expenses or profit, your income target must include a payment to yourself as a priority.

There are many systems around to help you out – the book ‘Profit First’ by Mike Michalowicz is a great starting point to shift your mindset.

The best way to start is to start with a number. Any number!

Be consistent when you pay it. And keep increasing the amount regularly.

Because the alternative is not worth thinking about: you’re going to end up resenting your business. 

And ultimately? Perhaps wanting to leave to find a job that pays you better.

That means giving up on your dreams.

Let’s not do that.

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.

GET IN TOUCH

Supercharge Your Business!

Join us to receive expert podcast episodes and tips on how to achieve the work-life balance you've been craving while still watching your business grow.

It takes 30 days to get a grip on the health of your business

It takes 30 days to get a grip on the health of your business

by | Sep 20, 2022 | Business Chaos, Business coaching for women, Busy Trap, Juggle Street, Money Mindset and Management, Peak Performance, Profitability and business growth, Smart Growth, Time Freedom

Have you ever tried to ride a bike with a flat tyre? 

It’s slow, unsteady and bloody hard work.  It doesn’t matter how much air is in the other tyres. It’ll make for a bumpy ride and you might end up damaging the bike to the point that you can’t ride it anymore. 

Imagine your business has 3 tyres. Most of the time businesses focus on tending to and pumping up 1 or maybe 2 of the tyres. 

But they don’t actually see the others which can in turn end up driving the business into the ground. 

According to the ABS, 60% of businesses will fail within the first 3 years. And that number rises to over 90% after 5 years. 

The main reason discovered is that business owners are not upskilling in other areas like sales, finance and marketing. And they’re not planning. 

You didn’t go into business to be an expert at sales or finance. You went into business because you’re passionate, are damn good at what you do and can do it like no one else. 

BUT to be successful, I’m sorry to tell you, you do need to be across these other areas of your business … all while not getting burntout! 

It’s frustrating though because you don’t know what you don’t know. There’s an inkling there must be a better way but you don’t know where to start. 

Wouldn’t it be great if you knew how to keep things pumping without worry, having to invest more time or having to do more work?

If you could feel like things are under control so you can go back to loving your business again. 

Unfortunately, the more common approach is for business owners to either go into full avoidance mode burying their heads in the sand or getting a false sense of security by looking only at the ‘vanity’ numbers in the business. 

They default to working longer hours, working more and staying in the same vicious cycle. 

There are 3 pieces to this puzzle (heads up – these cover the 3 ‘tyres’ in your business).

  1. Focusing on smart growth meaning you having a plan, are focusing on both sales and profit
  2. Getting time freedom back through working on your beliefs, setting strong boundaries and working with, instead of against, your natural internal drivers
  3. Having an autonomous team you trust, that is thriving in the current culture

Is it time to look under the hood of your business, or check the air pressure in your business tyres?

Be the mechanic your business needs you to be. Or at least be the driver!

If you don’t know where to start, ask for help from someone who does. 

It only takes 30 days with the right focus in the right areas to get a real handle on what’s happening under the hood of your business. 

We take our clients through a business health check process that moves you from chaos to business clarity, in just 30 days. 

Book a clarity call here to uncover the #1 thing that’s holding you back right now.

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.
BOOK A CHAT WITH NICKY

Supercharge Your Business!

Join us to receive expert podcast episodes and tips on how to achieve the work-life balance you've been craving while still watching your business grow.

Without simple scalable sales systems your business will be stuck

Without simple scalable sales systems your business will be stuck

by | Aug 29, 2022 | Business Chaos, Business coaching for women, Profitability and business growth, Sales Mindset, Smart Growth, Womens Business Mastermind

The truth of it is that your business can only go so far with a reactive approach to sales and business growth. 

You’ve had some awesome success in your business (congrats btw!). 

But it can feel a little chaotic, and even with all of your wins under your belt, somehow it feels like you’re ‘winging’ it.

When you don’t have a sales process in place you’re basically starting over every time a new client comes through the door #exhausting

You don’t want to have to think about the next steps all the time or be worrying about the quality of sales conversations your team are having when you’re not there. 

You want to feel like everything’s consistent, under control and taken care of at all times. 

I’m sure you’ve heard people like me bang on about how important a sales process is to business. 

I get it, it’s hard to pinpoint exactly what needs to be done or exactly what that means. 

And let’s be honest, you don’t have the time to sit down and map this stuff out! 

But here’s the thing, when you know where you’re going you can get there quicker and easier. Think about it like using a GPS system for your clients. 

A good GPS will give you suggestions on shortcuts and takes the thinking out of the driving for you. It guides each milestone, pit stop, and the road to travel. It also navigates detours around unexpected surprises that pop up. 

When you put a destination in the GPS, it gives you the most efficient way to get to where you’re going. 

Don’t you want that for your clients?

If you do, there are 6 areas for you to think strategically in your business. To get clarity right away on your strengths and gaps, how many do you answer yes to?

  1. Sales set up: Do you intimately know your #’s – past, present and future and do you have a positive mindset about sales?
  2. Attract: Do you have a reliable lead gen strategy in place?
  3. Qualify: Is there a simple and effective qualifying process for new clients?
  4. Convert: Are you consistent in your approach to converting clients ie. 1st time appointment and 2nd appointment, effective (repeatable) questions to uncover needs?
  5. Nurture: Do you have a nurture sequence for the yes’s, no’s and the not now’s?
  6. Innovate: Is there a system to ensure you regularly review your services, revenue streams, processes, and client experience?

Research conducted since the pandemic (by the Brevet Group) shows there are longer buyer cycles than ever before. 

This highlights the importance of having a sales framework or process to take the emotion out of selling and to make sure leads don’t go cold.. or are forgotten about.

You don’t want to be leaving money on the table or not getting paid what you’re worth! Check out more on getting paid what you’re worth here.

Most importantly having this process makes your clients feel taken care of and helps them decide if you’re the right fit for them.

What are your next steps?

Once you’ve identified your strengths and gaps, don’t put pressure on yourself to put everything in place at once. Chip away at each point one step at a time. Start with area 1 moving your way through to 6. 

Remember, you don’t have to do this alone! 

This is the exact process we take our clients through to help them get more time and step back from the business with ease and confidence so they can get back to doing what they love. Book a clarity call if you want guidance on what your best next step is. 

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.
BOOK A CHAT WITH NICKY

Supercharge Your Business!

Join us to receive expert podcast episodes and tips on how to achieve the work-life balance you've been craving while still watching your business grow.