You’re part of the team too !

May 6th, 2009

You're part of the team too !

You're part of the team too !

Following on from the PDF blog, its no good having a happy team, if you’re stressed up to the eyeballs and lost in the dizzyness of bizzyness !

So how can you guard against this little predicament ?

The answer is planning.

Before you all throw your arms in the air and start shouting about why its impossible to plan anything in your business…. or is that just my overactive imagination and you’re all smoothly gliding through the glistening waters of retail?

Consider that stress comes when you feel out of control, or in effect the feeling of stress is a direct link to you thinking that you’re going to fail ! You don’t get stressed making a cup of tea, or starting a journey that you’ve completed a gazillion times…. We only get stressed when we think about what we have to do and we think that we might not complete this in time !

Its quite a simple explanation and i fought against this when i heard it, in fact i thrashed about like a fish out of water, but in the end I had to agree that it is in fact true !

So, to avoid stress, and while i get that a bit of stress can be a good thing, forcing us to up our game, none of us want to live in a stressful state all the time - besides which its pretty unhealthy for you (and ladies, its apparently very ageing - so no amount of expensive wrinkle cream made from microdermoplasticpeptioozeides are going to help !

Instead, planning, delegating and getting focused on the priorities are high on the list of groovy things to do !

Plan your work and work your plan is a good motto for wrinkle free skin - and while its nice to wave your staff off happily its not so nice to be the one left tackling the yeuchy jobs, this tends to make us moody and irritable (well, me anyway)

So, plan the work, divide up the responsibilities and get them ticked off the list, so you can focus on the things that are actually going to take your business forward.

Vagueness creates confusion while clarity creates action steps, excitement, and avoids the necessity for expensive surgery !

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Are your team all headed in the same direction ?

May 4th, 2009

Are your team all headed in the same direction ?

Are your team all headed in the same direction ?

For many of us creating, maintaining and developing our teams is one of the most challenging parts of running a business. Oftentimes it can feel like herding cats !

We all know what we’re supposed to do, be inspiring, provide a vision and gee everyone along, praising them and keeping them on track ! Simple huh? Not in the experience of anyone that i know that runs a business !

So how can you make it easier on yourself? Well, while it doesn’t solve all the problems (and lets be honest here, what would? ) a short - 10-15minute personal development meeting each week can work wonders….!

We use the personal development form in the downloadable documents to keep us all on track (RR Doc 09) The beauty of this system is that it works according to Einstein’s theory of compound interest…. bet you weren’t expecting that from a single form?

What i mean by this is that, we all evolve slowly, some slower than others - granted, and sometimes we make a leap or a bound, but generally its more a process of evolution than revolution. Our PDF meetings and forms, focus on making small changes each week, rather than a gigantic step at any point. Even a 1% improvement in someone’s performance each week magnified by a whole 52 weeks in a year will ensure that you finish the year in a very different place to where you started it…!

By focusing on how your staff can develop themselves you can see real contributions to the business evolve and keep a track of everyone’s goals..!

But what if there’s only you in your business? Well, then its even more important to take the time to keep yourself on track. When you can see improvements each week you’re more likely to have a realistic view of your business and what you can achieve. Looking back over a year will give you a realistic view of what you’re capable of and a way to record it.

the greek philosopher Socrates said that “a life unexamined is not worth living” which may be a little harsh, but he had a point !

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Posted in Compound interest, Team, einstein | No Comments »

Is your business on the map?

May 1st, 2009
Is your business on the map?

Is your business on the map?

Even if you don’t have a website, read on because this is important for your business. More and more often now customers are searching online for answers to their questions or solutions to their problems. So the biggest determinant to whether or not they walk through your doorway is not your location, but whether or not they can find you on line when they are searching…..

I used to look at searches for my shops and vaguely wonder how to come up in the results, or why we weren’t in the results, but now I have the answer, and its really really easy !

Google has recently announced its IP-based local search results. So make sure that your business can be easily found by going to the Google local business centre and entering your details. It’s as simple as that….!

Ensure that your business can be found by anyone searching online by simply showing up in the searches on Google Maps by using Google’s Local Business Center — it’s FREE!

Start by visiting the Local Business Center, and supply your business information. You will then be able to upload photos, specify categories, payment options and business hours and much more.

Google Links:
Google Maps:
http://www.maps.google.co.uk/

Local business center
http://www.google.co.uk/local/add/businessCenter

Peterborough example:

Peterborough giftshop

http://www.google.co.uk/search?hl=en&q=peterborough+gift+shops&meta=&rlz=1W1GEUA_en-GB&aq=f&oq=

Searching under giftshops and Peterborough brings up my shop, sadly at J position, but if I’d known about this earlier we could have been much higher…

Another thing to do here, is when the search results come up, if you scroll down through the entries you’ll find lots of review sites. If you enter your details in their lists and directories as well, you’ll come up even higher. This will probably take you an hour or so to complete, but its free and if it brings your shop to the listings on page one of the Google search engine – then it’s a safe bet that its worthwhile!

While you’re at it, check out your Google profile at http://www.google.com/profiles and make sure that that’s updated too…..

There’s lots of routes to Rome, so make sure you’re leaving some signposts !

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Posted in Building a media profile, Google, marketing | No Comments »

Einstein’s favourite theory

April 29th, 2009

Einstein's favourite theory

Einstein's favourite theory


Albert Einstein the brilliant scientist, Nobel prize winner, humanitarian and Philosopher called this the most amazing phenomenon of the universe !

The law of compound interest !

What is the law of compound interest i hear those of you who hate numbers ask.

It’s the law that states that if you have for example £1 today and you have it in a magical bank with 10% interest – next time you check you’ll have £1.10 which is nice, but not lifechanging, but the real mystery of this law is that any interest that now comes to you, doesn’t come on the original £1 but on the £1.10 – it keeps on growing! It ‘s the gift that keeps on giving !

Most of us know that compound interest applies to money. But you can apply it to any area of your life or your business. Because you can be sure that if compound interest is not working for you, it’s working against you.

If you invest in something and accumulate interest, that interest compounded makes you money. But if you borrow money, you pay interest and that interest compounded costs you more money. In both situations, a day of interest is not going to rock anyone’s boat, but taken over time and compounded the effect can become huge !

Just like the rule of 80/20 the phenomenon of compound interest relates to whatever situation you apply it to, so this is not just about building societies, but about business, health and relationships, nothing is immune.

If you eat a fatty meal today it won’t kill you, but if you eat one every day never allowing your body to recover, eventually you will be really unhealthy. Likewise eating an apple today doesn’t make you a healthy person, but eating an apple a day every day, will help you to be a healthy person.

In business, being rude to one customer today probably won’t ruin your business (unless they’re extraordinarily well connected) but do that every day and you won’t have much of a business for very long. Conversely go out of your way for one customer each day and you’ll increase the goodwill in your business. This is the law of compound interest.

Everyday we make hundreds of choices – what to wear, what to eat, who to employ, how to market ourselves, where to advertise. Each choice in itself is a small thing, and either positive or negative, but taken together over a period of time they propel you to either where you want to be, either in a positive or a negative direction. While we often don’t see the bigger picture, being too bound up in our own little dramas, making as many positive decisions a day as you can is only going to help you and your business move forward.

The more positive associations you have, the more leverage and momentum you create, remember the law of compound interest and aim for some positive decisions each day to get the law working for you….

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Posted in Compound interest, einstein, money | No Comments »

What kind of story is your shop…?

April 27th, 2009

What kind of story is your shop?

What kind of story is your shop?

Recently, we’ve been going through a few changes in our business, some pleasant, some, shall we say not so pleasant. As a small business and talking to other retailers i realise that we are not alone in some of the dramas that befall us.

One of the biggest hurdles to get over is staff leaving (or being asked to leave) In a small business where everyone knows everything about everyone, and emotions can run high, its easy to get caught up in all the emotion.

But what if its all a story? The story of your business ! What kind of story would it be? Is it an epic drama, with lots of adventure, or a fireside ramble through familiar territory. A cookbook or a thriller? Is there espionage and a plucky heroine?

When staff leave us, its easy to be upset about it, but what if we chose to see it as the close of a chapter, or a space for some new narrators to come in. After all no-one is irreplaceable, people will come and people will go and that’s the long and short of it… But if you were to choose what kind of story would you choose.

Sometimes its not whats happening to us thats important, its what we make it mean, and standing back and seeing it as all a chapter in the story might make it a bit less personal…?

So, Chapter one, the beginning, high hopes, new shopfittings and excitement.

Chapter two, settling in, slight change in direction, taking on staff

Chapter three, the website adventure

Chapter four, getting down and dirty with social media…

I leave the rest up to you… I’d like to think of my shops as an adventure story, complete with choppy waters to overcome (rise in rent and rates, and some shoplifters for good measure) a villain or two (I’m undecided on them as yet) a quest and a community to welcome us back….

As John Lennon said, “you may say I’m a dreamer….” but it beats the heck out of sitting back and feeling sorry for yourself, and if life really is what we make it, then we might as well make it a fun adventure….

Now I only need to convince my staff …….

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Posted in Challenge, Change, Stories | 2 Comments »

Not a budget for business ….

April 26th, 2009

Small comfort for small businesses ...

Small comfort for small businesses ...


Having had a little time to review the Chancellors budget (not my favourite weekend activity) it looks like overall, it was a bit of a missed opportunity. While the borrowing figures of £175 billion (and that’s just this year) with £173 billion next year, are enough to make me feel a bit giddy. There’s the news that economy is going to shrink by 3.5% to digest too…

With such big borrowing sums being bandied about, its small wonder that there’s small support for our small businesses.

Missing in action was a reduction of employers’ National Insurance contribution rate and tighter government control over bank charges(which would have been nice!).

There was no extension of VAT reduction to 15 per cent for a further 12 months and there were only a few real high points.

1. Main capital allowance has doubled to 40%, which is helpful for those of us investing, as we all know that cashflow is the numbero uno in the priorities list, particularly in a recession.

2. An extension of the three year carry back means that loss-making businesses can reclaim tax on profits made in the last three years, this should help lots of small businesses.

3. Business rates: The spread of uplift is a positive move for small businesses.

4. VAT threshold increased: While the extension of the reduction didn’t happen, the raising of the threshold to £68,000 at least means that many small businesses will fall outside the VAT bracket.

5. The introduction of a top-up supply chain insurance to help companies protect themselves against non-payment.

But there were also some nasty surprises for those of us wondering why we do in fact bother?

1. The 2p rise on fuel duty – this always has an impact on costs somewhere down the line.

2. No change to corporation tax rates with the rise from 20-21% remaining in place;

So if we cast our minds back as to why we did set up in business… if it was for the long hours and ever present responsibility, the learning how to steer a sometimes unmanageable ship in difficult waters, or the satisfaction of knowing that our bank is receiving good returns on their oh so reasonable charges….. or maybe it was because we just love giving the opportunity to the government through our employment of our staff, to increase the tax aspect of the PAYE and NI and add some more paperwork?

If, however it was to be successful and be recompensed for our hard work, then you have to wonder if the opportunity to earn, which is a stimulant for most entrepreneurs is going to seem as bright if the government is going to reserve the right to take nearly 60% in tax and NI when we do….

Ok so there aren’t many directors of small businesses who earn over £150,000 but it’s a nice dream….!

So thanks Mr Darling, but not that much !

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Posted in Budget, money, recession | No Comments »

Who’s the bogie man?

April 24th, 2009

bogieman-01-fatmanpress-nm1In the 1950s, Congressman George A. Dondero denounced modern art as a communist plot.

Every day, we hear ideas that some people are annoyed with or more likely, afraid of. And in the face of fear, people lose eloquence and start calling things names, usually names that don’t make a lot of sense.

There is a danger in labelling things, because once you give it a label, its like the wait is over. For instance if an ill patient is told that they’re about to die, chances are they will, there have been innumerable cases where members of the family have forbidden the doctors to relay the news in this way, and guess what the person lived on for several more years.

Of course, that’s illness, but I’m interested in the labelling of the “recession”

Its all in the mindset, your psychology, because sure as eggs is eggs stuff will happen, but its not the cards you’re dealt, its what you do with them ! In my local town there are now about 6 empty stores, but this week one of my favourite shops opened a new store – in a better location, and its been packed all week ! Why, because for the last three years they’ve been quietly getting on with it, building a network, building a mailing list of satisfied customers, not deviating from their USP, trying, refining and getting ready for the next step.

Did they let the “recession” stop them? The answer is a clear No !

Nothing is a communist plot any more, but there’s never a shortage of bogie men available to us, to make us afraid, steal our dreams so we can’t sleep and generally make the world a scary place.

Beware of the bogie men – they’re on your TV, they’re in the newspapers and they could be all around you !

Be careful who you listen to – make sure they’re not a bogie man !

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Posted in Bad news, PMA, Positive mental attitude, Questions to ask, negativity, recession | No Comments »

Where does learning lie?

April 22nd, 2009

Which is the biggest segment?

Which is the biggest segment?

This one’s a bit philosophical, so grab a cup of tea and prepare yourself…

There’s basically three sectors to the pie chart of our lives, the smallest one, is what we know (for example, we know where we live, or how to do a Z report) The second sector is what we don’t know (and we know that we don’t know it.) For example : I know that I don’t know how to speak Chinese, or how to fly an aeroplane.

We could all list lots of things that we don’t know !

But if you notice on the picture, the biggest sector by far is the left hand one, which represents what we don’t know but we don’t know that we don’t know it !

So what does that mean?

Well, it means that for us and our businesses, there are many things that we know that we don’t know but because we know that we don’t know them, we can go and seek them out and learn them if we needed to – in order to improve our businesses.

For example we might know that we don’t know accounting very well, but as our businesses get bigger, we realise that we have to have a basic knowledge, so we enrol on our course. We knew that we didn’t know it, so we could take some positive action around it.

But, what of the biggest segment – What we don’t know, and we don’t know that we don’t know ! Hidden from our view in this segment are all the things that hold us back. They’re very difficult to get to, its kind of like spinning around and trying to see the back of your head, almost impossible and it makes you kinda dizzy, but if you could get inside that segment, everything could explode for you!

How to do this without the aid of psychotherapy?

Ask an honest friend?

Because the stuff that holds us back, very often isn’t a lack of knowledge on excel spreadsheets, or the failure to pick Billy the fish as the seasons top seller, its something a bit deeper than that ! You can train for those things. Its our own deeply held beliefs about ourselves, that we very often don’t even realise that we hold.

But although they’re invisible to us, others can see them, as they come out in the language we use and our view of the world…..

So, if you’re brave enough… and they’re a very good friend…. and you trust them….. Ask an honest friend !

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Posted in Knowledge, Questions to ask | No Comments »

Snakes and ladders of life !

April 20th, 2009

Watch out for snakes !

Watch out for snakes !

What if its all a game?

All the stuff we take so seriously. Sales figures and footfall, and conversions. Web stats, staff sickness, customer returns and all the rest of it !

What if its all a giant game?

Sure in a game there’s winners and losers, just as there are in life. Sometimes its in the roll of the dice, you slip down the snake through no fault of your own, nasty divorce, illness, unfavourable partnership, you name it, there’s lots of explanations how, lots of reasons why.

But if it is all a giant game, and you knew this (someone whispered in your ear) then how would you play the game? Would it be different because you knew it was just a game, would you take it less seriously? Would you play to win, or team up and help the other participants to stop someone else winning? What would be your strategy?

Would you be the banker ? or the old boot? In fact, lets take it a step further. What game would you choose to play if you could choose?

Scrabble, Monopoly, Snakes and ladders, Cluedo or twister?

What does that say about you?

Finally, are you the kind of player who has a strategy to win? A long term game plan, or is it all just for fun. Because usually we win the game we play, and those with a plan, a vision and a long term view and a lot of hard work and persistence are the winners. Not always – unforeseen stuff can happen, but usually.

So what game are you playing?

In the long run, though, it’s those with right intention, a long term view and consistent persistence that manage to win.

Good thing, too.

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Posted in Conforming, Positive mental attitude, game, snakes and ladders | No Comments »

Who is the one in ten ?

April 17th, 2009

Who's your one in ten !

Who's your one in ten !

UB 40 sang about it, scientific studies use it as a way of grounding their theories, but what relevance does it have for retail?

Well, it’s the secret of a new style of marketing – the power of ten !

It works like this, you find ten people. These are ten specific people. People who trust you, need you, like you, respect you, admire you…..

These ten people want or need what you have to sell, and if they love what you’re doing and how you’re doing it, you win – big time ! Because if they love it, they’ll tell ten more people (or many many more !)

If they don’t love it, it won’t work and you need a new product, concept, idea or need to fulfil.

If they love it, your idea spreads, your business gets talked about – and grows ! Fast, much faster than you’d think, because people are talking about you…..not only are you news, you’re also being personally recommended ! Advertising can’t buy that kind of promotion – It just can’t !

This idea can change the way you do everything – instead of investing in blanket advertising to an anonymous “market” You find the raving fans of your business and market to them, get them on board with your vision, your plans, your ideas, let them contribute. Then they’re not anonymous, they’re willing participants, they’re invested in your business (emotionally not financially) You can only really market to people who are willing participants, like your group of ten people.

So when you want to launch a new spring collection for example, you wouldn’t need to spend a lot on advertising, you could plan a gradual build up of interest that turns into a tidal wave. You could plan your budget accordingly too. Which is the opposite to how it’s done now, where most of the money for advertising is spent up front, then it tails off, which is backwards to what you need.

Ten evangelists can make a huge difference to your business. Ten people who love your shop and tell all their friends where they got X from, who pop in all the time, sometimes just to say Hi, ten people who think you’re great and want to support you…..

Years from now, this advice will be so common that no-one will be able to comprehend that we didn’t do it.

But for today, I’m willing to bet that it’s almost certainly the opposite of what you’re doing?

So, who will you pick to be your top ten?

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Posted in Adding value, Change, Customers, loyalty | No Comments »

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