Joining a mastermind group is an important decision for your business. Just as importantly it is an important decision for other businesses. When you become part of the collective you are committing to helping everyone.
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Mastermind groups have been around for quite some time now and a lot of businesses benefit from them. However, many businesses also don’t use them and seem to manage just fine. So, who will benefit from one and what size is the optimal group?
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For many businesspeople being part of a mastermind is hugely beneficial. Whether a mastermind would be worth it for you though is a very personal choice. It is a real commitment so before you can make a sensible decision you need to have perspective on what one actually is what it can do for your business.
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In today’s digital age, the world of business has undergone a significant transformation, moving from traditional brick-and-mortar stores to the vast landscape of online commerce. As a business owner in this dynamic environment, it’s crucial not only to provide excellent products or services but also to prioritize the protection and satisfaction of your customers.
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Strategy can be a scary word for a small business. However, having a clear strategy for the direction of your business can help you make clear decisions about where you want your business to be.
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The definition of entrepreneur is “a person who sets up a business or businesses, taking on financial risks in the
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let’s look at discounting. If you are going to do this, you need to consider the loss of revenue as a marketing cost and be conscious of this as an investment and what return your going to get by choosing this method to attract customers.
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Having recently read Self Made by Bianca Miller-Cole and Byron Cole (to be reviewed in the next edition of this magazine), one of their chapters covered building your brand which should always be on your radar strategically.
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The above terms are often interchanged which makes it unclear how these roles differ and who you should turn to as a business owner for support.
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There are a number of different methodologies used by coaches, the most common one is the GROW model. This was initially introduced in Sir John Whitmore’s book: Coaching for Performance.
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No matter how successful they are, no matter where they are in our business journey, one thing most successful business owners agree on is the importance of a mentor in their past and continuing development.
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Along with your vision and mission statements, do you have (and share) your company core values? It is worth thinking about having some as they can form the foundations of how you go about your day-to-day business dealings.
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A useful tool to consider where your business growth is going to come from is the Ansoff Matrix. The intention of the tool was to help organisations to identify and explore opportunities for growth.
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A lot of businesses I come across do find it difficult to get sh*t done and move their businesses forward.
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Once you have a vision of where you want your business to be, it is then a matter of focus and taking the relevant actions in line with your goals.
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