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Category - Leadership

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1
How Leadership Wins Masterchef….And Grows Your Business
2
6 Key Must-Haves In Your Business
3
Do Your Team Members Have Their Individual Objectives?
4
How To Increase The Value Of Your Business
5
7 Key Skills of Business Leadership

How Leadership Wins Masterchef….And Grows Your Business

I recently saw a rerun of Masterchef Australia. Have you seen the series?

For those of you who haven’t (what rock have you been under – the “I’m too busy because I’m doing everything in my business” rock?), it’s a series where every-day aspiring home cooks compete through several weeks to become Masterchef. In the journey, contestants are eliminated every week so that the number of contestants reduces to the best of the best until 2 or 3 are left in the Final. They are eliminated through different contests where they cook-off against each other. One of these eliminations – my favourite – is the Team Challenge.

In the Team Challenge, the contestants are put into different teams and they take over a commercial kitchen and compete against the other teams. The losing team goes into elimination.

Why do I like this?

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6 Key Must-Haves In Your Business

When you are starting a business, or even as you grow it from the start and enter into a steady period of consolidation and wish to review your performance, it is useful to take a step back from the nuts and bolts of starting or running your business and consider what makes up a business.

Sure, you must have (hopefully) a great product or service and you must have customers.

But what makes up a successful business? What are the key ingredients you must have?

I created Teik Oh Dot Com in order to help small business owners implement these key ingredients that together make up a successful business, to be the small business owner’s one place to go to in order to find the practical processes to improve their business and become successful. You can subscribe to get these free tools and resources delivered directly to you by clicking on this link and signing up.

Importantly, I believe that when you start your business, you need to focus on six key must-haves in your business to set you up for success.

So let’s dive into the 6 key must-haves in your business.

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Do Your Team Members Have Their Individual Objectives?

Do your employees have written Job Descriptions?

No? Okay, let’s slide past that one quickly!

I can’t tell you how important it is for effective teamwork that everyone has a Job Description that helps them do their job, and fit into the team working together to meet the business objectives.

After this week’s video I hope you will now prepare individual Job Descriptions, but even if you do have written Job Descriptions for all your team members right now, does it include a clear objective for their role that fits into the overall objectives of the business?

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How To Increase The Value Of Your Business

The value of your business is not just based on the tangible assets – the equipment, the buildings, the accounts receivable – but is also based on intangible assets or “goodwill”.

Goodwill is the “extra” value of your business that is caused by all the intangible things that you do in your business to make it a profitable business that can continue beyond your ownership or stewardship. These include things like your customer relationships, your reputation, the efficiency of the business processes, marketing quality and resources, staff behaviours and culture, and your systems that create a great product and service.

Imagine two similar businesses.

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7 Key Skills of Business Leadership

Let’s get down to brass tacks – as a small business owner, you are not a “manager” who organises work. You have to be a business leader, who inspires, sets agendas, and creates opportunities.

What you need to successfully grow a business today are leadership skills. You probably started your business as a subject-matter expert with those specialist skills that made you produce your product or services.

But as your business grew, and you took on employees, the role of the small business owner has to shift from “do-er” to “leader,” from specialist subject-matter expert to generalist, and from problem solver to agenda setter. You need to create strategies that find opportunities, and the transition is not easy for people who became specialists and subject-matter experts by working for someone else.

So, what are the key skills you need to be a business leader?

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