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Book Quotes Coaching Entrepreneurship Influence Personal development Strategy

The Challenger Spirt

This book was given to me by one of my team. I love reading and learning, so there is no better gift.

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The Challenger Spirit book written by Khurshed Dehnugara and Claire Genkai Breeze, is a book written before its time. The key to being a challenger is ‘does it have to be like this?’ https://relume.co.uk/the-challenger-spirit/

Claire starts with two lasting influences on her life ‘your work is your love made visible’ by Khalil Gibran and the 5th century Philo ‘be kind, for everyone you meet is fighting a great battle’

The book is full of gems and sections of questions to ask yourself, very thought provoking. The highlights for me:

  • Our sales teams are service oriented with up selling and cross sale being a spin off from a conversation rather than the purpose of the conversation.
  • Establishment leaders v’s Challenger Leaders: Establishment leaders have four blindfolds: Arrogance, Avoidance, Agreement and Antagonism. The book describes each one and how it shows up.
  • Challenger organisations and their leaders are more likely to fail when they imitate rather than disturb their establishment competitors. They fail when they default to what is already known to be successful.
  • The process of constant feedback and alteration in your brain only begins to slow down in your eight decade
  • Once you have made some positive and bold choices created your dream together and engaged people in it, the uncertainty of the environment quickly becomes much easier to navigate

The chapter on growing old disgracefully is all about staying lean and hungry. And what good looks like: say what you believe regardless of political implications. The way you deliver it is the key to success as I have learnt over the years in corporate.

I have always been a challenger, in every aspect of my life. I live by the saying “if it not scary its not worth doing’ and my purpose is all about challenging others to operate outside their comfort zones.  

This book is all about how to challenge well and even when the norms of the establishment look like a better way to get on in your career, staying true to what you believe and your values is the right thing to do and always deliver the best outcome for your company.

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Career Change Entrepreneurship Personal development Start up

Five steps to a successful start up

You have a software application written and you are excited by the opportunity to start your own business. Launching it is not enough, to successfully secure sales you need know your market.

History has proved that marketing is the key to launching a successful business, you can have the best solution, but marketing wins. Once that stands out for me was SQL and Nested database. The latter is superior for scale, simplicity, yet SQL won the business. The alternative is a slow burn of referrals, which can work, but takes time.

So here are the steps:

Target market: Who are you selling to? What is their demographic? How do you get to the target audience(what do they read, what apps do they use)? Why are they buying?

Knowing how you reach your target audience is critical and knowing why they would buy your product?

How to?

1. Get a database of your target audience. There are many options to gaining access to a database:

  1. Utilise a company with same target audience: ie customer segmentation, industry segment and/ or regional. Set up a referral fee in exchange for using their database. If B2B business to Business then buy a list: Illion, Core logic, listing company Or: Building your own database, utilise the internet for research
  2. Dont proceed to step 1 without knowing who is your target audience. You will waste money and time, both precious.

2. Whats your message? Why are your target audience interested?

  1. Why use your product?
  2. Testimonials from exisiting customers
  3. Referrals. Will your customers refer to other customers
  4. Social media, connect with Linkedin, Facebook, Instagram, Twitter
  5. PR; utilise a PR company in your sector, to get the message out their.
  6. Note: Educating a new market is not for the faint hearted, definitely for organisations with deep pockets. If people don’t get it and you are not making sales, relook at the offering and your target audience. Jeffrey Moors book “Crossing the Chasm” describes early adopters in his book. Basically you need to look for risk takers

3. Easy to buy from

  1. Once you have steps 1 and 2 nailed, can your target audience order your product simply and easily. If its too complicated, then you will not secure the business even if step 1 and 2 are executed well.
  2. How many prospects have abandoned the process in coming on board, as it is to complex.

4. Build a business plan and cash flow and take it out to your network to test the above. Is the target marker large enough? Sold some niche products in my time and one the target market in Australia was 400 companies, only 10% come to the market annually and have a 10 year lifespan. Even if you won 100% of 40 Companies is that enough revenue to deliver the profit you are looking for?

This is a great opportunity to tweak your plans before going ahead for real.

5. Press the button, register the company and execute your plans.

Categories
Book Quotes Career planning Entrepreneurship Influence Leadership Strategy

Your a CEO of business working for the owners of the business and you are ready to move on.

Your a CEO of business with non execs that own the business and you are ready to move on, as you feel stifled. You love the business and you believe the business has great potential. You are restrained by the founders and owners, you are ready to do something else.

Owners who create, built and grow the business after many years decide to step back due to retirement, other business opportunities, personal circumstance and appoint CEO. The CEO is limited by the law of lid. First chapter of John Maxwell’s book on the 21 irrefutable laws of leadership  https://www.amazon.com/21-Irrefutable-Laws-Leadership-Anniversary/dp/078528837621 irrefutable. Often the CEO is restricted in where he/she takes the business due to the founders expectations, thinking and interference in the daily business.

Over time the CEO becomes frustrated and look outside for a new career opportunity, when the answer could be to look at alternative ownership structures for the business. The owners may want to sell out, realise their investment and they are looking for exit, as CEO you can facilitate by an industry buy out, private equity sale or a management buy out.

Each needs a thorough understanding of the market and the opportunity for the buyer. It’s a time to call on your network for assistance, advice and introductions. Once you have researched the possibilities, then approach the owners for their support.

The worst that can happen is the owners are not interested in selling business, the only thing you have lost is time. On the other hand if they are keen you are now running your own business.

The alternative to leaving may very well be the best opportunity to back yourself and give back to the owners.