Business Coaching & Business Planning › wp-content › uploads › 2019 › 06 › Coaching... · 2019-06-20 · that are getting in the way of you achieving your goals. If you

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#SNH19ScalingNewHeights.com Copyright MAUS Business Systems – www.maus.com.au - All rights reserved. Can’t be copied or reproduced

Business Coaching & Business Planning

ScalingNewHeights.com #SNH19Copyright MAUS Business Systems – www.maus.com.au - All rights reserved. Can’t be copied or reproduced

More than just a CFO!

Our vision is to transform our members to become great Business Advisors.

Program PhilosophyPeter HickeyCEO & Founder MAUSPresident, Institute of Business Advisors

Technology – Training – Mentoring - Accreditation

http://www.maus.com.au/


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Learning Objectives

By the time you leave this course…

• You will understand the role of a Business Advisor

• Why a Business Advisor must be holistic in the approach

• How to conduct a client discovery program.

• How to develop a strategic plan

Learning Objectives


THE ROLE OF A BUSINESS ADVISOR



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Advising business owners is an

Honourable Profession

• Professionalism

• Credibility

• Likeability

• Self Development

• Empathy

• Trusted

• Competent

• Experience

• Expert Knowledge

• Calming/Re-assuring

• Motivational

• Be able to systemise

• Know limitations

• Analytical and rational

• Self belief

WHAT MAKES A GOOD SPORTS

COACH OR ADVISOR?


2 Primary Business Advisor Roles

Strategic Management Guidance & Advice/ Defining the way forward

Problem Identification & Solutions

Encouragement & Motivation

Empathy & Support Resilience & comfort



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ScalingNewHeights.com #SNH197

Think of Yourself like a GPUnderstand

holistically

the range &

scope of

issues


Thinking like a GP

• Initial Assessment• Don’t assume

• Understand the big picture

• Ask “What are the pain points?”

• Treating cause not the symptom

• Referral to specialists

• Having the right Diagnostic tools

• Treat initial pain areas then work on a long term plan.

Have the right diagnostic tools & know when & how to use


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If your client says Profit is down…

Our solution is not to recommend a reduction expenses before we...


LOOK AT THE BIG PICTURE

Understand the underlying

reasons for poor performance

-Understand

Owner Goals

Copyright 2018 All Rights Reserved. Reproduction without permission is prohibited.

Lifecycle of a Business



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CLIENT DISCOVERY


• Below are some follow up phrases and questions that we have found to work well.

What are your current business challenges? • As a business owner we realise you have hundreds of issues –that’s

normal, however there are usually 2 or 3 key make or break issues that are getting in the way of you achieving your goals.

If you could wave a magic wand over your business what would you like to achieve? • Most business owners if they have 10-20 issues try to solve all of

them and do a lousy job. We help you to focus on your top two or three issues. We then resolve one by one these issues. Single focused.

• What is your biggest challenge?…what would you make in the next 6 months, in terms of increased sales or profit or how much would you save if this was fixed tomorrow.

EFFECTIVE QUESTIONING TECHNIQUES



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• There is no magic wand to solving all your problems overnight but this program is a very practical program that you can start on immediately.

• You need to break the cycle. If you do nothing – nothing will change.

• What would it mean to you….. To sell your business for a million dollars, to have 10 new customers a week …? To be able to have 3 weeks holiday a year? To spend more time with family...? Etc

• You can’t be expected to know everything and our program is about filling in some of those blanks for you.

• Without wanting to sound like I am belittling your issues, we deal with hundreds of businesses and most business owners believe their business and problems are unique.

• The reality is hundreds or thousands of businesses have confronted the same issues and come up with long term solutions to them. You may have a unique mix of problems but the problems themselves are the same.

EFFECTIVE SALES CALL PHRASES


• Stop putting out fires. We want to make your life easier and provide you with proven short cuts.

• Do you think your strongest competitor built their business by finding tips and hints on the internet about how to run a business? [This can be used where your prospect mentions they use the internet to search for free information].

• If you are happy to accept what you have got now. then doing nothing is the right decision…These things are not going to go away but they may get worse.

• Why re-invent the wheel?

• Take an aerial view of your business.

• You are an expert in your business…..we are an expert in the systems and processes to build your business.

• The resource part of the program is designed for busy business owners...You can schedule in lunch times while you have a sandwich at your desk to watch a Case Study and then refer to the Workbook.




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What are your key issues?

This program will help you dig into your issues and come up with practical ways of solving them for good. If you had of started this program 12 months ago you would have already solved some of your key issues and been on the way to achieving your goals.



As part of this course each candidate gets 12 months free access to the MAUS software

A Client Discovery ProcessUsing the MAUS Client Needs

Analysis Software



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Copyright MAUS Business Systems All Rights Reserved

CLIENT NEEDS ANALYSIS SOFTWARE… DEVELOPED OVER 20 YEARS OF WORKING WITH CLIENTS

• Ask questions & probe for hot buttons• Step 1: What are your high level business and

personal goals and priorities?

• Step 2: What is holding you back/ Challenges

• Step 3: What do you see as your problem areas

• Step 4: How do you compare against a “best of class” company?

• We have done research around the world, in less than 10 minutes we can compare you against the characteristics of a best in class business and show you your gaps.

Client statements

We work with business owners around the country. Some are frustrated with their…profits/revenue, some have growth/staff/or other pain points that hold them back……and others just want to take their business to the next level.

What we inevitably find is that most business owners focus on too many critical priorities. We work with our clients to focus on 1 - 2 “pain points” at a time and solve it in short 30-90 day sprints.

Essential Idea


STEP 1: FINANCIAL & PERSONAL

GOALS


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CLIENT NEEDS.. A GREAT

STARTING POINT


MAUS Client Needs Software… Psychological factor!

Next Module: Scorecards & Milestones

Timeframe Open

Hours Worked

Business Owner Wage

Stress

Business Owner Exit

Strategy



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ScalingNewHeights.com #SNH19Copyright MAUS Business Systems – www.maus.com.au - All rights reserved. Can’t be copied or reproducedNext Module: Scorecards & Milestones

Why discuss personal and business goals in this meeting?

Why is the timeframe not defined by us? Why do we leave it as an open question rather than defining your revenue goals for the next 3 years?

DISCUSSION


• Is this important?• Do all business owners work a lot of hours?• Why would someone work a lot of hours in the business?• Is this a business owner goal? Is it important but never

discussed.• What would they do with their time if they didn’t work as

much?

DISCUSSION –NUMBER OF

HOURS



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• What causes stress?• Does it affect performance?• Is it important?• Give an example of stress and performance.• How do we control stress?• What is the dream?

DISCUSSION –STRESS

ScalingNewHeights.com #SNH19Copyright MAUS Business Systems – www.maus.com.au - All rights reserved. Can’t be copied or reproducedSlide 24 of 36Next Module: Scorecards & Milestones

• Why focus on remuneration?• Do all business owners know their remuneration?• Does remuneration impact value?• What is the dream?

DISCUSSION –REMUNERATION



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• What is the dream?

• What is the value proposition you could sell?

• How does exit time frame effect valuation.

DISCUSSION –VALUATION


• Is this an easy question?

• What does the owner have to take into account?

• What advisor services can you sell?

• Explain net proceeds

• What is the dream?

DISCUSSION –AMOUNT

NEEDED TO RETIRE



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STEP 2: WHAT IS HOLDING YOU

BACK?


• What is holding you back?

• Management decision making matrix

• Identifying impact and issues.

DISCUSSION –PAIN POINTS



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COMPLETE THE CNA TEMPLATE …WITH THE PERSON NEXT TO YOU


BUSINESS PLANNING



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Think of a business plan as a rocket ship

WHAT IS A BUSINESS PLAN

VisionStrategic directionGoals

YOUR DIRECTION

PeopleSystemsOperationsCash

YOUR SPEED & POWER


KPI’s & MetricsMonthly Review MeetingsPeople Accountability

YOUR FUEL GAUGES & CONTROLS

CASH

OPERATIONS

SYSTEMS

PEOPLE

Copyright MAUS Business Systems.#SNH19


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WHY A BUSINESS PLAN IS SO IMPORTANT

Actual Pathway to moon

#SNH19Copyright MAUS Business Systems.

ScalingNewHeights.com #SNH19Copyright MAUS Business Systems – www.maus.com.au - All rights reserved. Can’t be copied or reproducedCopyright MAUS Business Systems All Rights Reserved

BUSINESSPLANNING

- THE ANALYSIS

BUSINESS PLANNING PROCESS

Sales Analysis

Business Analysis

Monthly Accountability

Customer Analysis

Competitor Analysis

Strategies

SWOT ANALYSIS

Actions & Milestones

Financials & Budgets

BUSINESS GOALS(People, Systems, Operations,

Cash, Sales, Marketing)


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BUSINESSPLANNING

- THE PLAN


Sales Analysis

Business Analysis


Customer Analysis

Competitor Analysis

Strategies

SWOT ANALYSIS





ScalingNewHeights.com #SNH19Copyright MAUS Business Systems – www.maus.com.au - All rights reserved. Can’t be copied or reproducedCopyright MAUS Business Systems All Rights Reserved

BUSINESSPLANNING

- IMPLEMENTATION & ACCOUNTABILITY


Sales Analysis

Business Analysis


Customer Analysis

Competitor Analysis

Strategies

SWOT ANALYSIS







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OUTCOMES?

Let’s look at a One Page Summary of the strategy

THIS YEAR’S GOALS - 2019

10,000NEW CUSTOMERS

$2.5mREVENUE

40%GROWTH

YEAR 1 YEAR 2 YEAR 3

Sales

Gross Margin

Net Profit

XYZ COMPANYPOINT OF DIFFERENCE OUR PRODUCTS OUR CUSTOMERS OUR COMPETITORS

STRENGTHS HIGH PRIORITY STRATEGIES WEAKNESSES

OPPORTUNITIES THREATS

OBJECTIVES 90 DAY PRIORITIES

USA LAUNCH

POLICIES EXPANSION CASH FLOW

SSTRATEGIC ALLIANCE

CANADA LAUNCH

ONE PAGE STRATEGY Copyright MAUS Business Systems.


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THIS YEAR’S GOALS - 2019

10NEW CUSTOMERS

$1.5REVENUE

10%GROWTH

YEAR 1 YEAR 2 YEAR 3

Sales

Gross Margin

Net Profit

XYZ COMPANY None at moment General Compliance work Retailers 20%Professional Services 15%Manufacturing 30%Other 35%

Bob AccountingMary Bookkeeping

Increase revenue by 10% to $1.5mIncrease profitability from 18% to 20%Increase my time and enjoyment –Finish work at 2pm on FridayPosition practice to focus on Retailers as a segmentHave completed 10 advisory assignments non paid by end of 2019Launch Business Advisory by June 2020

Join the retail associationGet retail benchmark dataRevamp brochure to target the retail sectorAsk my existing customer for referralGap analysis on inefficient systemsGet quotes on replacing/updatingDo a competitor analysis

Customer loyaltyGood backendAutomated systems

No timeNo cashStressedNo positioning or uniqueness

AdvisoryVertical market – Specialise in retailers and professional servicesAdd back-officePricing increase

Local accountancy firmsOff shore will make me redundant

POINT OF DIFFERENCE OUR PRODUCTS OUR CUSTOMERS OUR COMPETITORS

STRENGTHS HIGH PRIORITY STRATEGIES WEAKNESSES

OPPORTUNITIES THREATS

OBJECTIVES 90 DAY PRIORITIES

USA LAUNCH

POLICIES EXPANSION CASH FLOW

SSTRATEGIC ALLIANCE

CANADA LAUNCH

ONE PAGE STRATEGY

Improve efficiencies with technologyTarget Retailers and Professionals

launch business advisory

Revamp the website

Sell or merge with another company

Copyright MAUS Business Systems.

Documents

Business Coaching & Business Planning › wp-content › uploads › 2019 › 06 › Coaching... · 2019-06-20 · that are getting in the way of you achieving your goals. If you