Archive - 2016

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1
Merry Christmas and Happy New Year
2
How To Keep Innovating
3
Build Value In Your Business By Going Away For Three Months!
4
Before You Sell, Start With Why
5
Plan With An Eye To The Outside

Merry Christmas and Happy New Year

Let me take this opportunity to do something quite off trend these days – to thank you for your readership and viewership this past year, and to wish you a Merry Christmas and a Happy New Year.

It has been a privilege to have more and more people subscribe to my newsletters and follow me on Facebook and Twitter, and to find that my little bits and pieces have helped small business owners and entrepreneurs through the year. I keep getting really heart-warming messages about how one of my articles have helped someone come up with new and improved ways of doing things in their business.

And this year I have had the great privilege of helping a few people with my online courses on SMART Marketing and How To Start Your Own Business. The reactions have been great so I’m planning new online courses in 2017.

I’m taking a break, but I’ll make sure you continue to receive tips, ideas and new resources to help you create strategy, provide leadership and grow your business, especially during the quiet holiday period when you have time for quiet thinking and planning – a new article and video will get to you on the third of January.

In the meantime, thank you once again, and have a great holiday!

Kind regards

Teik Oh

How To Keep Innovating

“We need to innovate to thrive.”

“Business has to be agile these days.”

“The cheese has moved.”

“Every market sector will face disruption.”

We’ve all heard these phrases haven’t we? “Innovate” and “agile” and “disruption”, what do these trendy words mean?

Well, believe it or not, there’s nothing new under the sun. All these trendy sayings mean something that businesses have had to do for centuries – we all need to move with the times. If you settle, you go the way of Kodak and Blackberry, and in the sense of industries, you face the challenges of the taxi industry in the face of Uber or of the hotel industry when Air BnB is out there.

So you have to innovate. You have to be aware of what is happening around you, to your business, to your customers, to your industry, to your market, and find new ways of doing things or new ways to serve. Yet business success is a game of inches, not Eureka moments.

 

 

If you expect miracles, you set up your mindset for the BIG new thing to invent. This makes people feel nervous because they will find it hard to innovate at such a big leap. So they react by working on what they know, and innovation? Nothing.

You need to shift mindsets – yours and those of your team. Believe that innovation is possible but you do it through small improvements. If people are allowed to change their world with small improvements, then they are not afraid to fail because if they do fail, it’s small. When a good attempt has not succeeded, don’t label it a failure – accept that an experiment has given you a result and ask “what did we learn to do/not to do?”

And remember to measure. Take simple measurements like time saved, or cost saved – feel the progress and celebrate, then look for more.

Finally if you are reading this on one of my social media channels, you might be missing a lot of great ideas and tools and resources to help you grow your business, create effective strategy and show leadership. Why don’t you go to my website at teikoh.com and sign up to get these free ideas sent directly to your inbox (not forgetting to mark the email from teikoh.com as safe so that it doesn’t go straight to your spam folder.

See you next week!

Build Value In Your Business By Going Away For Three Months!

Has the title of this week’s article got your attention?

Like many entrepreneurs and small business owners you are probably struggling with your work-life balance, right? You are working long hours, sometimes weekends, when you go on vacation you can’t help feeling the guilt, your phone or tablet is always on and always calling for your attention even at all hours of the night. Yet the reason you started your own business, apart from the passionate belief in what you are doing is…getting time to do what you want.

Just stop for 10 minutes (yes, you can!). Ask yourself why you aren’t able to find that “life” part of the balance. Do these reasons sound familiar?

  • I need to really pour myself into this to make enough money at the moment
  • I’m really busy because I can’t afford someone else to do some of the work
  • It’s all in my head so I can’t let go
  • I haven’t broken through financially yet
  • I’m ultimately responsible
  • As I expand there’s even more work to do
  • Only I can do it
  • There’s just so much to do
  • The work comes with success

Think about those reasons just for a minute. They all come down to the fact that there seems to be a lot to do and you are the only one available or capable of doing it. Read More

Before You Sell, Start With Why

Tell me, when you started your business, was it just to sell things?

I’m pretty sure it wasn’t. I think you started your business because you had a passion. You wanted to build a better life. You believed you had a solution to a common problem. You were passionate about your ability or believed you could use your experience to help people. I’m pretty sure you didn’t start a business just because you wanted to sell something!

So why, when we talk to potential customers do we start with a “sell”? Why don’t we start with why we are doing what we are doing?

Believe me, people are attracted to a business with a purpose. People are attracted to your product or service because they believe in you. People trust you because they are attracted to the passion you show in what you believe. Customers don’t buy from you because they like the features and benefits of your product – they buy because of the passion for the solution that you see in the benefits that you offer.

 

 

Remember, if you really want to attract customers to your business, don’t start with a sales spin, start with why – why you are in your business, why you started your business.

You’re not a personal trainer because you want to sell personal training sessions. You are a personal trainer because you believe in a world where people are fit and healthy and having fun, and that you can give people that lifestyle in an effective and fun way.

You’re not a mechanic because you want to sell someone an oil change. You are a mechanic because you have a skill in making machines just hum and your passion is to make things right.

So tell your customers that. Believe me, you’ll get more customers than just telling them about an oil change.

If you want to get more free tips and tools to grow your business, go to my website teikoh.com and register your email address so that Ican deliver these weekly ideas directly to you.

And if you want to know more about attracting customers who really want what you offer, you need a targeted Marketing Plan. I have an online training and workshop that will take you through 7 simple steps and create your scheduled, focused, practical marketing plan to target and attract your ideal customers – click here to learn more.

Plan With An Eye To The Outside

When you wrote your last business plan, did you go on a “retreat”?

That’s what most people do – they clear out some time and take their team out of the workplace so they won’t be disturbed, and they spend a couple of days discussing what’s going on in the business and how to improve it and set goals and strategies.

But here’s what’s wrong with this approach – more often than not you discuss and find solutions for problems and opportunities from inside your business, and forget that it’s external stimuli that will have serious and unpredictable effects.

So you go along and implement your plan only to have, one day —– WHAM! A big problem from outside hits you where you weren’t expecting.

Watch this week as I discuss how to plan with an eye to external factors.

 

 

Let’s summarise – use PESTLE to analyse and think about the external factors that could have an impact on your plans:

P for Political, being any political changes in your region that could have an impact;

E for Economic, requiring you to look at the local, national and global economy;

S for Social, asking what social trends are happening right now that could affect your business;

T for Technological – what is happening in and outside your industry that is affected by tech changes, social media and so on;

L for Legal, looking for potential changes to the law that could impact your industry;

E for Environmental, including the environment as well as surrounding factors – can any development here affect you?

If you want more of these free tips, tools and resources to help you grow your business, click here and sign up to get them sent directly to your inbox every week.

And while you’re there, go to teikoh.com and see what other great ideas you’ve missed.

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