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Welcome to my business building Australia blog

Gary Weigh business coaching Brisbane5 Handy hints for your super

  1. It’s compulsory so why not make it work for you
  2. Gather it all in the same fund and save on admin fees
  3. Make your super commission free – why pay an adviser you never see
  4. If you don’t have insurance get some through your super fund
  5. Make sure you nominate a beneficiary to receive your benefit if you die (be careful, there is only a few people you can legally choose)

 We can arrange it for you. Call me direct on 0408 756 531 or email gary@garyweigh.com

So what about the government’s new MySuper initiative? 

My answer to that is if you don’t care about your super, then MySuper is for you.  It is there for people who don’t care.

For more helpful business building Australia information about superannuation check out our financial planning services

Stay focused

Business building Australia – Brisbane based

Gary Weigh business buildingIf business building is your focus this year, give up trying  to be all things to all people.  Doing that might make you feel good but is the quickest way to lose focus by running  around doing things that you are not good at.   Let me assure you that losing focus means losing money.

Focus on the product and service you want to offer, package it up and go out and sell it.  Narrow your focus onto the things you are very good at, find the customers who want to buy your package, and resist the urge to be overly obliging to customers at any cost.  Doing so will only add to your costs without adding to your revenue at your target margin.

Business coaching is the surest way to keep you  focused on your targets.   Invest in your business at http://garyweigh.com/

Family business – the 3 generation challenge

Business building Australia

Most family businesses don’t make it into the 3 generation of ownership.  It is too often the case that the second generation take for granted the business built by the first generation through sweat and hard work.  There are several reasons why the second generation steers the family business towards trouble.  These include:

  • Children grow up in their parents business and take it for granted
  • They have no training or qualifications
  • They have no defined roles or job descriptions
  • They have no experience outside the business
  • They have been given the business rather than required to build it or pay for it
  • They mix family and business matters which causes communication problems

It seems a simple task to ask families to conduct business as though they aren’t related but it is not easy.   Nevertheless, before the going gets tough it is best for the whole family to sit down together and talk openly.  An external facilitator will help keep things on track.   If nothing else, a plan and a set of family rules would be a great start.

My top 10 tips for wealth building

It makes no difference whether you are considering investing in the stock market or in building your own business.  The only difference here is that stocks and shares are considered to be ‘passive’ investments, while your own business is an ‘active’ investment.  In other words you are hands-on, elbows-deep every day.

  1. Invest in yourself, the best asset you have
  2. There’s no time better than now; it’s never too late to start
  3. Keep your plans simple formed around goals that motivate you
  4. Make a habit out of goal setting, budgeting, saving & investing (repeat)
  5. Adapt and diversify; earn big and live small
  6. In every case fully understand the risks you are taking
  7. Don’t allow opinion, fads or trends to derail you; stay true to your vision
  8. You can never go wrong with quality people, products & services
  9. Know your market; understand the rules; maximise your opportunities
  10. Protect both yourself and your growing wealth; one relies on the other

Are we really connected?

Business building Australia

When the first black and white television sets appeared in the windows of the local hardware and electrical store, I joined family and neighbours on the footpath after closing time and stared through the shop window in amazement.  Now, in the digital age, there is barely a household in the country that doesn’t have one or two big screen TVs.  The internet, the mobile phone and now the iphone mean that we are connected to the entire world.

But we are not really connected; not in the old fashioned sense.  What we now mean by ‘connected’ is that the whole world and most of the information in it is available to us electronically at the click of a mouse.  Yep! I even remember when the word ‘mouse’ had only one meaning – the little furry animal with a long tail.

Even though a business will not survive in the future without an internet presence, business is still all about people.  There is still a need for human connection.  It’s built into our DNA.

Business building Australia – mental toughness

Business building Australia

As MMA champion, Ice Man Chuck Liddell said, “Mental toughness is no part time thing.”   Mental toughness does not mean swaggering around looking for fights.  It means practiced resistance to breaking down or giving in under pressure.   Note the emphasis on ‘practiced’ resistance.  Like all skill development, mental toughness requires a good coach and relentless practice.  It is also not exclusive to the octagon.  It has application to every facet of life, and is a powerful advantage in business, particularly when combined with calmness and relaxation.

If your business building strategy is right, be patient

Business building aiki style 

When you start a business money is usually short and enthusiasm is usually high.  You are in a hurry and you want to get going.  You implement your business building plans and you want everything to happen immediately, if not sooner. 

If that doesn’t happen, you become impatient and a little desperate and wonder why this great idea and all your best-laid plans are not working.  Then you change something!!  That can be a mistake because too often it will be a compromise in the interest of expediency.  You have just compromised your original intention.

You need to be committed to your original plan and be patient.  If it is well thought out, it will be a logical and cohesive plan.  When you implement, your actions need time to propagate and you need to hold your nerve.  So maintain your centre and extend strongly.  That is, maintain rock solid intention.

If you believe in your original intention, then let it run and wait for the result.  If it doesn’t work, find out why and then make the adjustment.

It could be the case that your original plan may have been a great idea but for some reason it is not working.  For example, you get the best brochures printed, distribute them to your target customers and the phone doesn’t ring.  The brochure part was fine but people generally need more than one contact before they buy.  So the idea was good but the strategy may be underdeveloped.  Therefore, a good strategy simply stops short.

Deal in facts, not fear!!  You are in control of your destiny and the power lies within you.  So when you are business building, stay in control.  Don’t abdicate that power to someone else, and especially not to those success saboteurs in your head – ‘fear’ and ‘self doubt’.  Trust your instincts and maintain you centre.

If you would like to see more of Aikido-in-action in everyday life, check out my Aikido Secrets blog at http://www.aikido-secrets-to-calm-success.com/

Gary Weigh

Business Coach gary@garyweigh.com

Mobile: 0408756531

Understand your need for money

 

Gary Weigh

Consider this before business building!  Nobody ever wants money for money’s sake.  Money has no intrinsic value.  Its value lies only in what it can purchase.  So there are reasons why you want money in your life.  What are they?

 It might be to buy a new house, travel overseas or educate your kids.  These are great goals and so is the desire to be financially independent.

Understanding why you want money helps create strength in your motivation for generating money. If deep down you are striving to (for example) improve the lot of your family and to make life easier for your kids than it was for you, then you are generating some very powerful motives for making money. 

On the other hand, if your motives extend no deeper than buying new baubles each week, then your motivation may not be strong.  You risk being distracted by the next shiny thing dangling in front of your eyes.  But if it works for you, stick with it.

Before you can tell other people where you are coming from, you must understand it yourself.  So it doesn’t hurt to do a little bit of honest self assessment.  Dig deep! 

Seek motivation deeper than simply being able to pay your monthly bills.  Why stop there!  If you can do that then you can achieve the next level of income, and the one after that.  You can keep moving forward one step at a time towards realising your dreams.  

If you would like to see more of Aikido-in-action in everyday life, check out my Aikido Secrets blog at http://www.aikido-secrets–to-calm-success.com

Gary Weigh

Business Coach gary@garyweigh.com

Mobile: 0408756531

Connect to the most powerful human emotions

Business building Australia

If you are building business in Australia and want to sell your product or service, think how it relates to the most powerful of basic human emotions. 

Yes you must be solving a problem and / or adding value; but let’s assume that your product already does that.  It is still not enough.  You need to burrow deep into the human psyche.

You have to link your offering to our most powerful feelings about the self.  When all is said and done, self interest is the greatest single overarching motivator that drives every one of us.  It is a primal need we were all born with.

Many successful businesses appeal to the emotion of frustration because that can turn to stronger feelings of anger and hatred.  Of course, the main source of human frustration is our failure to realise our full potential. 

In terms of buying decisions, self dissatisfaction and self loathing are the super highways to the powerful vanity emotion that lead us to make any one of a wide range of purchases in the hope it will make us do better, look better or feel better

This powerful primal need to serve the self opens up a whole host of selling opportunities, including:   

  1. Beauty
  2. Career
  3. Education
  4. Health
  5. Lifestyle
  6. Longevity
  7. Pastime
  8. Relationship
  9. Reproductive
  10. Sexual
  11. Slimness
  12. Sport
  13. Survival
  14. Travel
  15. Wealth

This is nothing new under the sun here!  However, it does serve to remind us that you might have the best product in the world but if people can’t find an emotional reason to buy it, then you will have no sales.

#1 in Business building Australia

Call Gary now on 0408 756 531 or email gary@garyweigh.com

Timing is everything

Business building Australia

Timing is everything

There is an important ingredient often missing from the business starter’s skill set.  That is a sense of business timing.

When considering starting a business, there is a time to start and a time to exit; a time to buy and a time to sell; a time to move and a time to wait; a time to show strength and a time to go with the flow.  In this sense, timing means that there are some moments in time that are better than others to act or to cease to act.

However, there are no firm rules.  It is a matter of experience and practiced judgment.  So it is not surprising that the nuances of timing are lost to inexperienced business starters. 

Poor timing is due in part to a lack of time in the driver’s seat.  It is due in part to poor awareness and observation skills and to a lack of knowledge and also to a failure to keep knowledge up to date.

A good example of poor judgment in relation to timing can be best described by the Australian adage of ‘flogging a dead horse’ (staying too long on a bad idea).  It is often said, that one of the defining attributes of a successful entrepreneur is persistence.  However, sheer persistence will win the day only on the condition that the underlying idea or concept is sound.

Inexperience tends to discount persistence as a major contributing factor in success.  The truth is that success is rarely an overnight event.  It just appears that way because it has become visible to a large proportion of the population.  It is true that persistence plays a big part, but timing is crucial as well. 

No matter how persistent you are about breaking through and succeeding, there is still a ‘preferred time’ to introduce a new idea (time-in) and there is only a finite amount of time that it can be financially supported, before a decision is made to cease (time-out).  The time-in, the period of time and the time-out depend on individual circumstances and available resources.

Check my other blog site http://www.aikido-secrets-to-calm-success.com and learn how the secrets of Aikido can be applied to timing in your business.

If you want to learn the principles of timing for yourself that you can apply to starting a business, visit http://www.griffithaikido.com.au

Until next time!

Gary

#1 in business building Australia