Conference Speaker
Strategies For Success in Challenging Times
James Martin, Speaking Engagements
Friday 13th March 2009
Keynote address at the Leitrim Enterprise Conference on Innovation
Landmark Hotel, Carrick on Shannon
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January 13th 2009
Ramada Hotel, Drumshanbo, Co. Leitrim
How can we bring simple thinking and straightforward, effective solutions to a complicated and rapidly changing marketplace? What are the small things we can do now that will make a big difference moving forward? We must see things as they really are, not worse and not better, but just as they are. We must get to the truth of our business and modify it to fit this very different economic climate.
Twelve Specific Strategies recommended by James
1. Get to the Truth of your business
Get clear on how the current economic climate is impacting your business. Explore its true viability and modify or diversify to meet the changing marketplace. Know your one number and have absolute clarity around this i.e. the minimum amount of money you need per month to pay your monthly business expenses and cover your basic living costs.
2. Provide Excellent Customer Service
Look at your existing customers and clients and the people who have supported you to date. How can you service them even better, listen even more attentively to their needs and create a loyal ‘raving fan’ base? Continue to raise your standards on quality and service even more and create the strong base to not only survive but also thrive in difficult economic conditions. There was a great discussion and feedback session from the thirty plus business owners re the criteria that they would recommend in offering outstanding customer service.
3. Manage CashFlow
Be Proactive. If you envisage a challenge with cash flow talk to your bank one or two months in advance. Many people leave it to the very last minute to deal with a financial crisis and this is causing a lot of stress. Feedback from the group suggested that organising and getting finance is still quite a major issue for business owners. Ask for support/advice if you need it i.e. accountant, financial coach/mentor, etc.
4. Be ruthless with your costs
What are you spending today that is not a direct investment in creating future profitable income in your business? Where can you trim the fat as lean costs take some pressure out of the system?
5. Take your 3-year plan back to your 3-month plan
In the current economic climate, work from a shorter business plan and a much shorter timescale. While keeping an eye on the longer term vision, look at what needs to happen now (today) and over the next three months to turn your company into a profitable sustainable entity. Take baby steps and be consistent.
6. Know Your Competition
Get to know your competition. Who are their customers and clients? Is there an opportunity for you to increase market share and get additional clients?
7. Develop your Emotional Fitness
Motion creates emotion. How we move and hold our body determines how we feel. James took the audience through an experience (the Rocky stance) on how our state/our physiology impacts our thought process and thus our attitude. Good feelings are a reflection of good body posture and a great state.
8. Get yourself Physically Fit
People and customers are attracted by our state and our energy. James challenged the audience to find ways to create balance between work and play. Consider going for a walk, or putting on the tracksuit and going to the gym twice a week. Also, pay attention to getting sufficient quality sleep. These are tough times and we must find ways to condition our bodies to be ready to not only meet the current challenge but to ultimately thrive on all levels – especially in health and business.
9. Focus on what you can do
Wherever our focus goes our energy flows. If you focus on what you can’t do or what you don’t want you will get more of it. As Bob Proctor puts it – “If you are thinking of debt, that’s what you’re going to attract”. That’s why we encourage people to state exactly what they want – a clear outcome for moving forward i.e. ‘My outcome is to grow my income by 10% by the first of April 2009′. We must do everything in our power to focus on the positive and express our goals and outcomes in the direction of our vision and our mission.
10. Develop Strategies for coping with Overwhelm
In these challenging times we may be exposed to excessive stresses, demands and pressures in leading our companies forward. It is worth considering up front how we might cope with these challenges and its impact on our bodies and ourselves. James recommends three specific strategies to deal with overwhelm or when the daily challenges seems just too much
1. Talk to a trusted friend, coach/mentor or family member to share your challenges as they arise.
2. Create a daily gratitude journal listing all the things you are grateful for i.e. great health, close family, new baby, new customers or something that you enjoyed and made you laugh. Read through this journal regularly to support you in keeping things in perspective.
3. Take a break and do something to get even more energy in your body – breathing exercises, yoga, go for a walk, cinema, etc. Be creative about how you bring laughter, fun and balance to your world each week. Plan it, schedule it and make it happen.
11. Create your Support team for 2009
We are a direct reflection of the people we spend time with. James recommends that you consciously decide on who you want in your cabinet in 2009 to support you in driving your business. These are your top 5-10 people who you can call on for emotional, financial, strategic /empowering advice and business coaching throughout the year. These are your marketing team, your sales team – your very own power team. These are the people who bring out the best in you and your business but also have the courage to share with you what you may not see. Your ideal power team will do all they can to make sure you succeed not only in business but also in life as a whole.
12. Just ask!
Remember to ask. Ask new and existing clients for their business and ask for support with whatever you need to meet the challenges in the year ahead.
TeamLife facilitates Business progression programs for groups of Business Owners to empower them to move them forward in a truly authentic way for themselves and their business. James also provides both half day and full day one-on-one coaching and mentoring.
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