Business Brain Food

Have the Biggest Pay Day of Your Life with Kerry Boulton

Whether you need to voluntary leave a business or if something goes wrong and you have to leave, it is very important to have an exit strategy. Always begin with the end in mind. Over the years, Kerry Boulton has sold several businesses for millions of dollars. Also, she has mentored many business owners through successful business growth in order to position them for their ultimate sale. Leaving a business is about:

** You

** Your family

** Other stakeholders

Boulton is the founder and CEO of the Exit Strategy Group, which helps business owners maximize business value so they can get out of the business – whether by liquidating assets, management buyouts, passing it down, or other ways.

When you intend to leave a business, consider the following:

** Who is going to be impacted?

** What do you plan to do after you leave?

** Who would buy the business? Who could be a potential buyer?

** Do due diligence to get your business ready to be sold.

** Make sure your business is attractable to potential buyers.

** Make sure your business stands out from the rest.

** Give yourself as much preparation time as possible to maximize the value of your business.

** Build a team to support your exit strategy (accountant, business coach, those who will be impacted, etc.)

Also, take a look at your business plan. Does it include an exit strategy? If not, then use Boulton’s tips and advice to implement one to get the most money you can when leaving a business. Plus, make sure you have contingency options because no business owners like a fire sale!

In this episode of Business Brain Food you will learn:

** Don’t jeopardize your business for $5

** Different ways to exit businesses

** Importance of including exit strategy in business plan

** Why business owners do not concern themselves with exit strategies

** Impact of baby boomers leaving businesses

** The importance of understanding the value of all assets

** Tips and traps of exit strategies

** Need for contingency plans

Resources mentioned in this episode:

** Traffic and Conversion Summit (http://trafficandconversionsummit.com/australia/)

** Trip Advisor (http://www.tripadvisor.com/)

** Facebook (www.facebook.com)

** Google (www.google.com)

** Business Brain Food Facebook Group (www.facebook.com/groups/businessbrainfood)

** Twitter (https://twitter.com/bfewtrell)

** Mayne Nickless (www.bmartin.cc)

** Exit Strategy Group (http://theexitstrategygroup.com.au/)

** Stephen Covey (https://www.stephencovey.com/)

** Amazon (www.amazon.com)

** Freight Management International

** Business Plans that Win $$$ (http://www.amazon.com/Business-Plans-That-Win-Enterprise/dp/0060913916)

** The Uncensored Truth About Exit Strategies (http://theexitstrategygroup.com.au/book-request/)

** LinkedIn (https://au.linkedin.com/in/kerryboulton)

** Facebook (https://www.facebook.com/KerryBoultonTheExitStrategyGroup)

** ActionCOACH (http://actioncoachanz.com/itunes)

** ActionCOACH (http://actioncoachanz.com/stitcher)

Subscribe on iTunes

Are you ready to leave a business?

Then use the information provided in this episode to make it happen! Also, if you are enjoying these Business Brain Food podcasts, then make sure to share them via social media sites or email the links to family and friends. A lot of time and effort goes into producing each of these podcasts with the goal in mind of the more people we can inspire about business the better. You can help us do just that! Until next time, have a profitable day. Cheers, Ben Fewtrell (02) 9111 5000

Direct download: BBF063_Have_the_Biggest_Pay_Day_of_Your_Life_with_Kerry_Boultan.mp3
Category:general -- posted at: 12:00pm AEDT

Holding On to Your Customers with Kym Illman

What do your customers hear when you put them on hold? Awful music or valuable branding and product messages? Kym Illman is the founder of Messages On Hold, which helps businesses customize their hold messages to achieve results. He is an entrepreneur who turned his home-based business into a multi-million dollar international success story. Technology and advances in phone systems have made hold content much easier to utilize. Businesses need to make hold experiences more pleasant. They need to make a good impression to minimize any damage hold calls can do. Your hold messages should be a part of your branding and provide worthwhile information. Hold messaging can be a powerful and valuable marketing tool.

There are various guidelines to follow in order to create effective hold messages:

** Making changes based on what customers want

** Don’t use just one voice

** Don’t give a list of features

** Don’t have awful music

** Content should be interesting and customer centric

** Change messages every three to four months; keep them fresh

** Educate people about what is available from your company

** Use the same messages for different mediums

Also, there are common mistakes to avoid when it comes to hold messages:

** Bad background music

** No background music or sound

** Chimes - don’t bang a bell in customers’ ears!

** Don’t loop same music and messages over and over

** Care: Some businesses don’t care about what customers hear because they don’t have to listen to the messages

There are several benefits to having hold messages in your phone system. They can generate sales, reach new and existing customers, and promote your brand. Plus, if a hold message is a benefit to callers, then it is a winner!

In this episode of Business Brain Food you will learn:

** How “holds” have become a global market

** Available phone systems

** Important aspects of hold messages

** How to achieve business results

** Mistakes to avoid

** Lessons learned to be successful

** How to use hold messages as a marketing tool

Resources mentioned in this episode:

** Guy Kawasaki – Episode 60 (http://actioncoachanz.com/bbf-060-business-success-with-guy-kawasaki)

** Messages On Hold (http://www.messagesonhold.com.au/)

** 1-800-Messages

** Canity (www.canity.com)

** Kym Illman (www.kymillman.com)

** ActionCOACH (http://actioncoachanz.com/itunes)

** ActionCOACH (http://actioncoachanz.com/stitcher)

** Ben Fewtrell – Twitter (https://twitter.com/bfewtrell)

** Ben Fewtrell – Facebook (https://www.facebook.com/benfewtrell)

** Business Brain Food Facebook Group (facebook.com/groups/businessbrainfood)

** Lancelin Western Australia (https://en.wikipedia.org/wiki/Lancelin,_Western_Australia)

** American Express (https://www.americanexpress.com/)

** TDK (https://en.wikipedia.org/wiki/TDK)

** Facebook (www.facebook.com)

** Twitter (www.twitter.com)

** National Geographic (http://www.nationalgeographic.de/0

** Canon Inc. (http://www.nationalgeographic.de/)

** The Photographer’s Ephermeris (http://photoephemeris.com/)

** Business Planning Template (www.actioncoachanz.com/062)

  Subscribe on iTunes

Are your customers tired of hearing awful elevator music while on hold?

Then use the information provided in this episode to improve your hold messages and make more sales. Also, if you are enjoying these Business Brain Food podcasts, then make sure to share them via social media sites or email the links to family and friends. A lot of time and effort goes into producing each of these podcasts with the goal in mind of the more people we can inspire about business the better. You can help us do just that! Until next time, have a profitable day. Cheers, Ben Fewtrell (02) 9111 5000

Direct download: BBF062_Holding_On_to_your_customers_with_Kim_Illman.mp3
Category:general -- posted at: 12:00pm AEDT

Building a Successful Social Enterprise with Katie Wyatt

Want to use your business skills and the power of the market for social good? Then you may want to consider social enterprises a.k.a not-for-profit businesses. Katie Wyatt is a wellness and business coach for social enterprises, which are businesses that raise money for and support a social cause. These businesses may employee people who would not otherwise be able to find a job, including the homeless and those with disabilities. It is not easy to start a new business and be successful. It is a big undertaking and not for everyone. Achieving social purpose as well as profit is twice as hard! But the payoff can be well worth it.

So, how do you create an enterprise that has social benefit? Or how do you retrofit what you currently do in business to serve a social benefit? You have to have two main things: passion and business sense. What’s going to get you out of bed each day? A passion to help others. But you also need to address the business side – purpose, metrics, outcomes, business models, legalities, etc. Therefore, any business needs to be profitable – to put money back into the business and help its cause. Otherwise, the social purpose would not matter at all. So ask yourself these questions in order to be successful: Why are you starting the business? How much money you will need? If you can succeed with a social enterprise, you can succeed anywhere. Now, get out there and do some good!

In this episode of Business Brain Food you will learn:

** Definition of social enterprises/not-for-profit businesses

** Differences between social enterprises and regular businesses

** What is needed to have a successful social enterprise

** How to obtain money for startup capital

** Steps to start a social enterprise

** Types of employees at social enterprises

** Importance of identifying ideal customers

** Development of foundations and charities

Resources mentioned in this episode:

** ActionCOACH (http://actioncoachanz.com/itunes)

** ActionCOACH (http://actioncoachanz.com/stitcher)

** ActionCOACH Session (www.businessassessment.com.au)

** Skype (www.skype.com)

** The Voice (https://en.wikipedia.org/wiki/The_Voice_(Australian_TV_series))

** Thank you Water (https://thankyou.co/)

** Daniel Flynn (http://actioncoachanz.com/bbf039-daniel-flynn-thankyou-group)

** Australian Charities and Not-For-Profits Commission (https://www.acnc.gov.au/)

** Social Traders (http://www.socialtraders.com.au/)

** Dwayne Martens (http://actioncoachanz.com/bbf059-from-uni-dropout-to-a-multi-million-dollar-business-with-dwayne-martens)

** Niulife (https://www.niulife.com/)

** The Wellness Entrepreneur (http://www.thewellnessentrepreneur.com.au/)

** Pinterest (www.pinterest.com)

** Life in Half a Second (http://www.lifeinhalfasecond.com/)

  Subscribe on iTunes

Do you want to make a difference with your business?

Then, use the advice provided in this episode to get started. Also, if you are enjoying these Business Brain Food podcasts, then make sure to share them via social media sites or email the links to family and friends. A lot of time and effort goes into producing each of these podcasts with the goal in mind of the more people we can inspire about business the better. You can help us do just that! Until next time, have a profitable day. Cheers, Ben Fewtrell (02) 9111 5000

Direct download: BBF061_Building_a_Successful_Social_Enterprise_with_Katie_Wyatt.mp3
Category:general -- posted at: 12:00pm AEDT

The Keys to Business Success with Guy Kawasaki

Do you want to change the world? Then, what is the secret to success? Well, there is no secret to being successful in business. What it takes is being passionate about what you want to do, being clear on what you want to achieve, and to work hard.

Guy Kawasaki is known as a business growth guru. He just loves to work and has empowered people through his writing, speaking, investing, and advising. He is passing down a body of knowledge he has acquired in his career to the next generation. Guy’s Golden Touch: Not everything Guy touches turns to gold, but whatever gold Guy touches.

He was once the chief evangelist for Apple Inc. Now, he is the chief evangelist for Canva, an online graphic design software company. It is revolutionizing the way people do graphic design. Also, Kawasaki is a trustee with the Wiki Media Foundation, executive fellow at the Haas School of Business, and much more. So he knows all about business!

Now, Martens is a 30-year-old who goes to work without wearing any shoes and has a teepee as his sanctuary. He owns a multi-million dollar business that he started in 2008. His business, Amazonia, focuses on Acai and distributes health food through the nation. Martens has learned along the way and remains open minded. He continues to step outside of his comfort zone and plans to expand his business.

* Press play above to listen to this weeks Podcast *

Kawasaki’s lessons learned as an evangelist and from working with Steve Jobs at Apple:

** Customers don’t always know what they need

** Design counts

** Less is more

Challenges Kawasaki has faced in business:

** Resistance to change

** Asking others to risk their careers

Kawasaki’s tip on how to ensure you are more successful than the competition: It’s all about providing great products and provide after sales and support. It’s not rocket science! Also, the key is to predict what people need or make what you want and make people need it. Kawasaki has written 13 books about business, including Enchantment. Enchantment is used to change hearts, minds, and actions. Businesses need to know how to enchant their customers to exceed expectations. Enchantment has three pillars:

** Likeable

** Trustworthy

** Competent

Enchantment can be achieved through social media. It means hard work, but social media should be used as a platform to promote your business. Social media will someday become the equivalent of marketing. Stay tuned because Kawasaki may write another book or do something else to help lead you to success in business! There are so many ways to succeed and so many ways to fail. “I just worked hard. That’s the key to my success,” says Kawasaki.

In this episode of Business Brain Food you will learn:

** What is evangelism

** Lessons learned in the business world

** Examples of enchantment

** Using social media to promote business

** Tips for creating a successful business

** Business challenges

** Importance of attending school of business

Resources mentioned in this episode:

** ActionCOACH (http://actioncoachanz.com/itunes)

** ActionCOACH (http://actioncoachanz.com/stitcher)

** Spotify (https://www.spotify.com)

** Apple Inc. (www.apple.com)

** iTunes (http://www.apple.com/itunes)

** Taylor Swift (http://taylorswift.com/)

** ActionCOACH Session (www.businessassessment.com.au)

** Canva (https://designschool.canva.com/)

** Haas School of Business (http://www.haas.berkeley.edu/)

** Wikimedia Foundation (https://wikimediafoundation.org/wiki/Home)

** Motorola (www.motorola.com)

** Google (www.google.com)

** Sydney Bears (http://www.sydneybears.com.au/)

** Steve Jobs (https://www.apple.com/stevejobs/)

** Enchantment (http://guykawasaki.com/books/enchantment/)

** Adobe PhotoShop (http://www.adobe.com/products/photoshopfamily.html)

** Amazon Books (http://www.amazon.com/books-used-books-textbooks/b/ref=sd_allcat_bo?ie=UTF8&node=283155)

** Guy Kawasaki (www.guykawasaki.com)

** Microsoft Outlook App (http://windows.microsoft.com/en-us/windows/outlook/send-receive-from-app)

** If You Want to Write (http://www.amazon.com/If-You-Want-Write-Independence/dp/9650060286)

  Subscribe on iTunes

How can you make your business successful?

How can you make your business successful? Use the advice and tips provided by Kawasaki to reach the top! Also, if you are enjoying these Business Brain Food podcasts, then make sure to share them via social media sites or email the links to family and friends. A lot of time and effort goes into producing each of these podcasts with the goal in mind of the more people we can inspire about business the better. You can help us do just that! Until next time, have a profitable day. Cheers, Ben Fewtrell (02) 9111 5000

Direct download: BBF060_The_Keys_to_Business_Success_with_Guy_Kawasaki.mp3
Category:general -- posted at: 12:00pm AEDT

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