Make Your Business Model Work for You - Business Coach Steve Taylor ift.tt/1A8OUwn - Register for the next webinar ift.tt/1A8OUMB - Visit our website Video Transcript: Good morning ladies and gentlemen, Coach Steve Taylor here. Hope I find you well. Im going to do a short presentation today. An interesting topic came up with a potential client where she was discussing here business model and it hadnt turned out the way she wanted it. During this discussion I asked several questions about had she made a business plan or sat down with a marketing plan or written any of the things down. And its interesting to find that most people did not. She was a little bit distraught with her business model. That it wasnt providing her with either of the currencies that she wants - that most of use desire. Anyway, those two currencies are time and money. Most often we find ourselves maybe with one and not the other. So I felt inclined to start just a small presentation here on actual business models. So without further ado, typically what we find is a lot of people finding themselves in this particular model right here. Out of the 26 million businesses in America. 22 million of them are usually sole propriety with very few employees and find the owner right in the middle of everything that is going on. Theyre responsible for the employees. If they have employees 1 or 2 or contractors, how do I get them paid? At the end of the day Im doing payroll and trying to keep up with all their problems. Advertisers - how do I sit down and really talk to where is my advertising, who is my target market, my target customer. The owner then has to deal with the customers in a lot of forms and fashions where the customers are coming in directly to speak to the owner. Because thats part of the relationship that we as customers like. We come in and we want to deal with somebody we know that has some skin in the game if you will and give them feedback. We also have to talk about how to grow our business. And two of the ways you grow your business is with new products and services. Or you grow it with existing products and services. As an owner you find yourself kind of alone working on that particular point as well. Right about the time we start talking about product and services were interrupted with some sales people. They want to talk to you about - hey buy this newest product that can help you make a lot more money. Then also weve got to either provide talk to our suppliers and how do I get my products or services and get them in a price in which I can make some money in it. What we typically find is this owner; although its very flattering to be everything to everyone. It could also be very taxing. In time, emotional even in money. And what we find is most owners can last a while like this - and again its excitement. But when excitement starts running out I find most owners suffer burnout in this particular model. Its just not quite sustainable and there is no leverage for the owner - in either time or money. A business model wed like to incorporate or at least to educate our clients with is the model in which we kind of modify the owner and make them a leader. Okay, and you can see a leader is not in the middle. A leader is one the top of this particular cycle that wed like to talk about. This cycle here is the business cycle. This is how you leverage - also the neat thing about the business cycle is it can be scalable. So you can creek this out into this area as well - depending on the leader and their leverage. What we find is the leader finds direct responsibility to the team. The leader is responsible to the team to communicate internally their mission and vision of the business. What is the business there for? What are the problems we solve? And theres a constant communication between the leader and the team. The team could be the employees, it could be the contractors, but the teams responsibility is to take care of the customers. So you have sales people, you have manufacturing people, the major job is to communicate to this team to take care of the customers. The team then becomes the face of the business. The team takes care through external communication and or marketing; they communicate the vision and the mission as defined by the leader to the customers. The customers then determine through revenues do they like this. Is this providing them a valuable service; do they want to come back; how many visits do they make per year; how much do they buy per visit; how many transactions are there; are they buying your most profitable products or services. And so they give feedback to the business in the form of revenues. ----- Space Limited by Vimeo ----- Go here for the full transcript: ift.tt/1qPCe4Z _______ FOLLOW LIPSapp Classic Radio _______ FB: r-js/1vz7Pcz / TW: r-js/1kHd2Qt / Listen to LIPSapp Classic Radio r-js/1dOIQ18 #classicrock #rollingstones #ledzeppelin #santana #eagles #zztop #thewho #beatles #elvis #jimihendrix #dylan #acdc #michaeljackson #pinkfloyd #madonna #u2
Posted on: Mon, 17 Nov 2014 20:24:12 +0000
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