4 Dangers Facing Business

But … todays business challenges…

• Just keeping business going• Operational ineffectiveness• Lack of focus• Time mis-management

Business should be a well oiled machine

The fear of going out of business

Business is cyclic: plan for it

Business Failure in UK and US Quoted Firms: Impact of Macro-economic and The Role of Legal Systems (2003), A Bhattacharjee, c. Higson, S. Holly, P. Kattuman

Northwest business bankruptcies

2000 2001 2002 2003 2004 2005 2006 2007 2008 20090

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

Halton Warrington Blackburn With Darwen Blackpool Cheshire East Cheshire West and Chester

Bolton Bury Manchester Oldham Rochdale Salford

Stockport Tameside Trafford Wigan Knowsley Liverpool

St Helens Sefton Wirral Burnley Chorley Lancaster

Pendle Preston Rossendale West Lancashire

Liquidations to Q1 2011

• 4,121 liquidations Q1 2011 • 3.7% more than previous quarter • 2.1% more than Q1 2010

Operational Ineffectiveness

Operational Mess

• No SMART goals• Lacks executive focus• Not understanding

consumers• Knee jerk discounting• Poor time management

A business has SMART goals if…

• Measureable• Achievable• Relevant• Time-bound

• Specific

SMARTER goals have “emotional resonance”

Lack of Focus

• No business strategy• Continual fire fighting• Meetingitis• No marketing/sales calendar

Business must understand consumers

“How To Market In a Downturn”, Harvard Business Review April 2009 - JA Quelch & KE Jocz

• "Slam on the brakes“• "Pained but patient“• "Comfortably well-off“• "Live for today"

Knee jerk discounts may affect your business health

• Gross profit is 50%• Cost is £10 retails at £15, profit £5• 10 sales gets 10x£5 = £50 profit

8 extra sales required!

• Sale price is £12.75, profit is £2.75• Discount by 15%

• Have to sell 18x£2.75 to get £49.50 profit

Traits of a pretty poor time manager• Works more than 50 hours a week• Few specific goals or deadlines• Usually not meeting deadlines• Makes ill-thought out decisions• Stressed• No real social life• No time for exercise• Fear of delegation• Messy desk• Procrastination

Parkinson’s Law

“Work expands so as to fill the time available for its completion”

Cyril Parkinson, 1957

Resolving Business Dangers• Create a business strategy• Address the 5-6 key issues• Produce a pragmatic “vital

few” plan• Improve time management• Keep executive and team

focus

Business Action Programme

• Steps– Growth questionnaire– Strategic view– KUTA matrix– Time management

workshops– Weekly business focus

Jim Symcox

• Business growth evangelist for the last 11 years• Trained by Chet Holmes, Tony Robbins and Jay

Abraham• Help Tony and Chet’s clients worldwide• Helped grow businesses on NWDA High Growth

programme

What others say…Top qualities: Great Results, Personable, Creative “I have worked with Jim on a regular basis in the past 12 months and he has provided me and my company with some invaluable advice, particularly in the field of business strategy and marketing. Jim has a wealth of experience that has really helped my company grow during very difficult economic times.” Duncan Freer

Top qualities: Personable, Expert, Creative “We welcome this opportunity to recommend Jim from Business Powerpack Limited as both as a speaker & workshop leader. . At our recent Digital Matters events, at various events aimed the Digital, Creative and ICT sector, he has always provided detailed and thought provocative presentations which are littered with excellent realistic pointers and practical tips in helping to drive business activities forward. His presentations are always concise and designed to meet the brief. His presentation clearly demonstrated his depth of knowledge and understanding of the needs of the small businesses.” Les Selby

Contact Details

• Jim Symcox• Tel: 07963768114• Email: Jim@acornservice.com• Web site: http://www.business-powerpack.com• Author of “how to leap ahead of your

competitors”