Business Strategy, Melbourne

The profits of learning to let go…

Over lunch on a warm afternoon in Lygon Street Melbourne, I discussed with a friend the need to be able to extend your business beyond yourself, particularly for owner/operators who were their business.

I’ve witnessed several businesses with great potential that would have grown more successfully if the owner/manager could have imagined that business being implemented by someone else.

Where a business owner has had the insight to recognise that they can’t do everything themselves (and shouldnt try), then the business started to progress. Not to say its easier or less work to involve others I’ve seen the benefits of sharing the load. In addition when they’ve started to think about how they would structure/operate their business with a view to someone else operating it, a change takes place that opens up a number of opportunities.
Here are a couple:
1. If you have others working in your business you can share ideas and problems with them – you are not trying to work out everything yourself.
2. If someone else is working IN the business – driving sales, delivery customer solutions – you can be working ON the business, driving strategy and leadership skills, developing new ideas.
3. If you are the business how do you sell your business if you decide you want to move on? By building a business model that is transferable, that can be owned by someone else is what makes a business, in my opinion, a real business and not a one person consultancy. To test this, think of how a business named after the owner which has no other staff could possibly sell that business to someone else unless they have a repeatable business model that does not rely exclusively on the skills of the current owner.

4 Which brings us to the old chestnut of business plan – which should be considered with the future of the business in mind – not just today, but in 5 or 10 years. Dont you want everything you’ve worked for to continue after you’ve found new interests? (even if those interests involve mostly a pina colada and a beach). So building a business plan that allows the business to be owned and successfully operated by someone else is a must unless you’re happy to shut your door when you take down your shingle.
5. Release the Equity in your business: capitalise on all the work you’ve put into the business to date. This is your business equity. If your business were a house which you’d owned for a number of years in a rising market, when you were ready to move on, you’d sell it on to a new owner for a profit. You can set yourself up to do this with your business to release the accumulated equity if you build it with the future in mind. All that sweat and effort could turn itself in to a future profit. Isnt that something for which it’s worth sharing your vision?
Write and tell me what your vision is for your business. And for more info on planning and building a better business visit Alignments Australia and consider reading The E-Myth by Michael Gerber.

birds, Birdwatching, Melbourne, Photography

The Cycle of Change

I’m an infrequent but enthusiastic bike rider and I tend to take my bike out to combine two of my other interests: photography and bird watching so I was pleased to see two ideas to help the world of cycling and its riders and those of us who stop along the ride to take photos of the scenery, interesting birds or just general randomness!
If you like to buy biking accessories – you know who you are you lycra-clad enthusiast you – you may be interested in the Rider+ loyalty programme created just for bikers. I havent used it but its being promoted by Bicycle Victoria and looks like a good idea. Rider+ is a joint initiative of the Bicycle Network which is a network of premium bike stores. Of even more interest to me is the Tripod Bike! Yanko Designs describe it as being inspired by the camera tripod, and provides a unique solution for custom fitting a bike to individual users. The bike features a camera mount located between the handle bars! So all your photo-cyclists, visit www.yankodesign.com for more info. If you’d like to find out about Rider+ visit www.riderplus.org for more info.

Australia, Christmas, Melbourne

Important Reindeer Facts!

A few reindeer facts to keep parents in the know:
1. Another name for a reindeer is a caribou.
2. Reindeer antlers can grow up to 130cm long.
3. It is the only deer species where both sexes have antlers.
4. Reindeer can live up to 20 years.
5. A highly nomadic species, a reindeer can travel 5000km per year in the Arctic Circle (aka North Pole).
6. Reindeer are good swimmers.
7. The reindeer was domesticated by humans 3000 years ago.
8. The names to remember: Dasher, Dancer, Prancer, Vixen, Comet, Cupid, Donner, Blitzen and Rudolph.
9. Rudolph has the red nose.
10. They made Santa famous! 🙂
Thanks Werribee Open Range Zoo Victoria for this important info!

Australia, Melbourne, Not for Profit Sector

In the non-profit world…http://wp.me/pxCZs-3t

The Productivity Commission in January this year submitted its report on the Not for Profit Sector to the Australian Government. While that was a few months ago, it is relevant again now with the recent debate concerning the levels of salaries for those in the community sector who incidentally are mostly women.

If you are thinking about a heart-based career move to the not-for-profit sector or you know someone who is, I’m hosting two seminars in December about my own move from the ‘for profit’ to the not-for-profit sector in Australia. Click here for more information.

Here are a few of the findings of the report which may be interesting to those who don’t know the sector well or are interested in getting involved with a not for profit organization.  Read more here.

Australia, Melbourne

Dyathinkhesarus…..!?

There were dinosaurs down at Docklands this Easter!

Down at the relatively new dock side shopping and residential development in Melbourne, there was a celebration for Easter Sunday.

Mostly face-painting, dancing and music for kids, there were also…raptors!

Enjoy this video of prehistoric life ‘terrorising’ Melbourne 🙂

Happy Easter wherever you are 🙂