Grow your Therapy Business

Insight, Integrity and Inspiration

Grow Your Therapy Business

Insight, Integrity, Inspiration

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    • What is a business plan?
    • How To Do A Cash Flow Forecast

Question 34: How To Win in Business?

I have always had poor hand-eye coordination – I blame poor eyesight aggravated by low physical fitness during my earlier years and thinking academic work much more important that sport- yes I know, I know I got that wrong…. When I discovered aerobics in my thirties, which was competing against myself, especially when accompanied by upbeat music, I started to take fitness seriously and subsequently went on to run in half marathons, 10k runs etc.

It wasn’t until my late thirties that I also started wearing varifocals when I played sport and it was like a miracle… I could actually see the ball… Or the shuttlecock. Instead of a blurred mess coming towards me and trying to judge the trajectory I could actually see the ball hitting the racket head, but perhaps even more importantly, for the first time in my life I could see the ball coming over the net which gave me an extra split second to attempt for the ball. I wish I had discovered this earlier when my knees and back didn’t ache and I could have been more capable and maybe I would have actually been chosen to play for a team rather than left on the sidelines.

So it is in business- you need to keep your eye on the ball and watch what is going on with your cash flow and your business and what your competitors are doing… If you can see the ball coming at you it is easier to position yourself to hit it back.

How closely have you been keeping your eye on the ball in business?

It is human nature to slack off a little when we think we have something “sussed” especially in business where there is always so much that needs attention.. We can easily turn our focus away from the basics -selling and delivering our products and services in a profitable way generating enough cash flow to cover our expenses, profit and growth.

How healthy is your business right now?

I’ve been coaching a business this week who have forgotten to keep their eye on the ball – they have a great business and have been growing but have had short term cash flow problems trying to fund that growth organically, to the extent that they have had to sacrifice some profit ( and growth) in order to balance their cash flow. we looked at what they could have done and found that they could have anticipated the problem coming… If they had been watching their cash-flow and comparing that against their cash flow forecast.

The decline was not particularly rapid… It wasn’t as if they had gone out and had a spending spree, but they had been tying up more cash in working capital ( stock and debtors) and hadn’t really noticed that it was slowly declining week by week – it is very easy when there is so much going on to forget about the basics. However we are looking at putting systems in place to flag up potential problems and having one person with a KPI ( key performance indicator) for managing cash. They also took the precaution of talking to the bank and discussed the overdraft facility and the need to extend it in the near term. Taking action and notifying them has averted being out on the bank watch list.

So looking at your own business
Where Have You taken Your Eye off the Ball?

And having worked that out ask yourself the supplementary question
What action do you need to do today to address the issue?

Recent Posts

  • Question 1: Why are you in business
  • Question 2: What Is Your Vision
  • Question 3: What Is Your Unique Selling Proposition (USP)
  • Question 4: Is your business working to your business plan
  • Question 5: What is Your current passion
  • Question 6: Want more hours in the day
  • Question 7: What Are the Obstacles in Your Way to Achieving What you Want to Do
  • Question 8: What are you doing to Plan Your Time & Prioritise urgent & important and make sure you take action on those plans
  • Question 9: What are you doing to clear up past messes
  • Question 10: How well are you measuring and controlling the business drivers ( key business indicators) out of 10
  • Question 11: Are there trends in the niche, market or industry that are likely to give opportunities to the firm
  • Question 12: Are there trends in the niche, market or industry that are likely to provide a threat to the firm
  • Question 13: Where’s the next competitive edge for your business
  • Question 14: which of your competitors are successful and why
  • Question 15: Are you still being a copycat
  • Question 16: How Good Is Your Pitch
  • Question 17: How Flexible Is Your Business
  • Question 18: How Are You Doing
  • Question 19: Do you have a clear sales funnel
  • Question 20: What is the Best Way of Getting New Clients
  • Question 21: Have you reviewed the optimum contribution for each product or service
  • Question 22: Are You A Seller or The Long Term Trusted Partner
  • Question 23: How are you spending your time
  • Question 24: What percentage of sales are from one person
  • Question 25: How Far Have you Come
  • Question 26: What Do You Want? How Do You Know When You’ve Got It? What Do you Need To Do?
  • Question 27: How Social Are You?
  • Question 28: What are You Prepared to Give Up?
  • Question 29: Who Are You Hanging Out With?
  • Question 30: What Can you Do To Increase Your Profit?
  • Question 31: How Effective Is Your No?
  • Question 32: how scaleable is your business?
  • Question 34: How To Win in Business?
  • Question 35: Look inside
  • Question 36: Whats your money mindset?
  • Question 37: What would Richard Branson do?
  • Question 38: What’s Your Money Mindset?
  • Getting Started

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