How Your Passion and Purpose in Life Become the Values and Standards of Your Business

Passion & Purpose

In aB previous article, we talked about how your Passion and Purpose. Passion being what you love doing and purpose being the difference you want to make in the world using your passion.
In this article, I’m going to describe how your Passion and Purpose in life become your Values and Standards in your business and how, in turn, these become the Brand an Identity for yourB whole business.

Values

Imagine that you are passionate about everybody’s right, rich or poor, to have a roof over their head, somewhere to live and sleep and that you make it your life’s purpose to make this happen.
You business values
In order to bring this about, you might decide to set up a business to provide cheap affordable housing for low-income groups or you might decide that you want to provide luxury accommodation for the mega rich. Both these represent different values. They are neither right nor wrong, not good, not bad, just different.

Standards

If these are your values, what are your standards?
Well, let’s imagine that you’re going to provide cheap affordable housing for low-income groups, then, what are your standards?Business values and standards 1
Your standards are going to be things like inexpensive, affordable, ethical, sustainable, ethically sourced and fair trade.
If you’re talking about luxury accommodation for the mega rich, that’s going to be a different set of standards. Now, we’re talking about expensive, exclusive, unique, innovative, high tech and artistic.
Business values and standards 2
Why are standards important? Well, they provide you and your team with a consistent way of working in everything you do when you’re dealing with your suppliers and your clients.
They are a key part of your business promise. You become known for your standards. In fact, your standards become an integral part of your brand.

If They Are Not Written Down They Do Not Exist

Are your standards written down? If your standards are not written down and they’re just in your head, then they don’t exist. They must be written down.
Standards must be written downIf they’re not written down, then your team don’t know what they are.
Every standard is different = chaos
If they don’t know what they are, they can’t deliver to your standards so they will deliver through their own standards.

Your Standards Begin When Hiring

The best place for getting your team connected with your standards begins in the hiring process. When you are interviewing, and hiring, tell the interviewee what your values and standards are and see how they react.
If they don’t love them and totally connect with them, don’t hire them because they’re not going to be part of your dream team.
Standards begin when hiring.
 
Your values and standards are not just external for your customers. They are, in fact, also internal. They apply to your team. How do your team treat each other?
How do your team treat each other?
Is it like this with anger or aggression? Or is it like this with cooperation and mutual respect and support?
Your internal standards ought to be built around terms like:

  • Dedication
  • Honesty
  • Tolerance
  • Respect
  • Integrity
  • Compassion.

These are wonderful terms, I’m so lucky because lots of these people I work with have these built into their standards both for the way they treat their customers and internally the way the team treat each other.
Just today, I was on a Skype mentoring session with an amazing lady on the Gold Coast who has a law firm there dealing with personal injury and her standards are all built around terms like this and it’s amazing the way she connects with her clients, with the people she deals with professionally and with her team.
As I mentioned earlier your standards are a key part of your business promise. You become known for your standards. In fact, your standards become an integral part of your brand.

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Vision, Mission & Strategy – What They Are and Why They Matter.

What are Vision, Mission and Strategy?

Vision, Mission, and Strategy are terms that are bandied about a lot in the business world but it’s not always clear what the person using these terms means. In this article I give clear definitions for each of the terms and explain why knowing what these are is important to your business.
I will use real life examples to explain what I mean, including MacDonalds and my own business, John Owens International.

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MacDonaldbs Example

If we look at the vision for McDonald’s, this says it is, “To be the best quick service restaurant experience.”
MacDonalds vision statement
They also have a longer version, which is shown above, bOur overall vision is for McDonaldbs to become a modern, progressive burger company,” et cetera, et cetera, et cetera.
So, a short version and a long version.
MacDonalds mission statement
Then, if we look at what their mission statement above, it says: “To be our customersb favourite place and way to eat & drink. Our worldwide operations are aligned around a global strategy,” etc. Their vision and their mission. Is there a difference? I don’t know.

Ford Example

Letbs look at Ford Motor Company. Their Vision is: bPeople working together as a lean, global enterprise for automotive leadership.b
Ford vision statement
And their mission: “One Team, One Plan, One Goal.”
Ford vision statement
So, their vision was to see people working together as a lean global enterprise for automotive leadership, and the way they want to do that is by having one team, one plan and one goal.

Definitions

At John Owens International, we’ve come up with definitions for vision, mission and strategy, not only to help us be clear but also to help our clients when they’re putting them into their businesses.
Vision, mission and strategy defintions
Vision is the change you want your business to bring about in the world.
Your Mission is what you see is your overall business approach to bringing that change.
Your Vision and your Mission statements should not be trite, fluffy or bland. If they are, people will feel that they lack credibility and therefore that you lack credibility.
Finally, Strategy. Your strategy provides the detailed steps your business will need to take in order to bring about the change in your vision.

JOI Example

Let’s look at the vision statement for John Owens International, and here it is.

“To create a world of heart and spirit-led individuals living inspired
and fulfilled lives through business success.”

Our mission, in order to bring about that change, our overall business approach is:

“To develop and share a set of products, services, and techniques with the world that will enable
heart and spirit-ledB individuals to attain personal freedom through business success.”

Then, our strategy, of course, is much more detailed than that. It’s things like defining our target audience, determining their need and values, developing one-to-one products, events, and services, etc.
JOI Strategy diagram

Recap

Let’s return to the definitions. These are very useful whenever you need to remind yourself, come back and have a look at them.
Vision, mission and strategy defintions
There we are, a short article which I hope you enjoyed. In the next article we will be looking at your Standards and Values and how knowing these and letting other people know them, can really accelerate your business growth and success.

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Supercharge Your Business with Your Passion and Purpose

One thing that will make business easy for you is if you know what your passion is, so what is ‘passion’?
Your passion is, as the name suggests, something that you feel passionate about. Something you love Slide02doing. Something that you’d get up in the morning to do even if you weren’t paid to do it.
That’s your passion, and if your business is based around your passion, then it’s going to be much more successful than if you’re doing something you find a drudge.

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Passion to Purpose

Now, when you’ve found your passion, that is good, but then the next question that comes up is, “What’s my purpose?”
People will ask you that in business and in life, “What’s your purpose?” Well, to me, I see your purpose as being the positive difference that you’re going to make in the world using your passion, and I think that’s a good way to define it.
Passion and purpose make a difference
Then, people use the term “Why”. They ask you, “What’s your big why? “Why are you doing what you are doing?” Is this the same as your purpose?
Well, I have a definition that I used for that too. I say, yourB “Why” is the positive difference that you want to bring about in the world, using your passion.
You Why is the positive difference you want to make

Ikigai

The Japanese have a great term for your big “Why”. Thye call it “Ikigai”, and it is your reason for living. They also have a great diagram.
Ikigami diagram
If you look at this diagram, we can see that at the top, there is something you love doing.
On the left-hand side, there’s something you’re great at.
On the right-hand side, there’s something the world needs, and at the bottom, there’s something that you get paid to do.
If you see all the possible combinations of this, it really is amazing that you can have a passion, it can be something the world needs, you can be great at it, and you can get paid for it. You combine your whole mission, passion, profession and vocation in this and right in the middle of this “Ikigai” diagram is your “Why”, your “Purpose”.

To Summarise

Let’s go back to my definition about your why and remind yourself that your why is the positive difference that you want to make in the world, using your passion, and if you want to see how these things are combined, please continue to come back to this “Ikigai” diagram.
This may be a short article on your passion and purpose but that doesn’t mean they’re not important. They are vital and core to every successful business. When you find your passion and purpose and ultimately your “Why”, your business and life will move to a whole new level..
In the next article, we will start to look at vision, mission, and strategy. Three important concepts which will give clarity and focus to your business.

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5 Key Questions That Define Your Brand and Identity in Business

Why Do You Need a Brand & Identity?

In this article, we are going to look at what is meant by Brand and Identity and answering the question, bbWhy does my business need them?b
Your brand and identity are core to everything you do in your business, but in order for you to be able to make it clear to yourself, to your team, and to your potential clients just what your Brand and Identity are, you need to be able to ask and answer the following five key questions for yourself:

  • Who do I work with?
  • What do I do for them?
  • How do I do it?
  • How do I do it better?
  • Why should they trust me?

In this article we will ask each of these questions in turn and try to provide some answers.

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Who Do I Work With?

This is really asking, “Who are those people with whom would I LOVE to work?”
Is it schoolchildren in education? Or athletes and people working in sports or in personal fitness? Or is it tradespeople, like builders, carpenters, etc? Would I like to work with the elderly? Or with people in hospitality or travel?
Your clients can come from all walks of life.
Once you’ve identified your ideal clients, that group of people you are passionate to work with, then you want to become clear on what it is you can do for them. What will your products and services be? What will you be delivering to them?

What Do I Do for Them?

For example, if you’re going to work with people in personal fitness, are you going to deliver them personal training services? Are you going to offer them nutritional services? Are you going to supply them with fitness equipment? Again, what are your products and services?

How Do I Do It?

Are you going to provide your products and services online, or in person, via correspondence course, over the phone? Again, going back to personal fitness, if you’re offering fitness programmes, are you going to do that online, or in person? Are you going to do it by videos, or are you going to turn up at the gym or go to people’s houses?

How Do I Do It Better?

You might be doing the same thing as other people, but maybe the way in which you do it is what is going to make you stand out. For example, if you’re delivering personal fitness services, how are you going to deliver it in a way that’s better than your competition, that’s going to make you stand out from the crowd?

Why Should They Trust Me?

Why should they work with you, how do they know they can trust you? One way you can demonstrate this is by having lots of testimonials from existing clients and customers, who will say what a difference it made working with you.
Why should your clients trust you?
Also, regardless of whether it’s products or services, you can also offer a guarantee.
Once you have answered all five questions, it should make it much easier for you to bring together your products and services, and package them in such a way that makes them attractive to all your potential clients.

Brand and Logo

Now, let’s talk about brand and logo.B To many people, when they hear the term ‘brand,’ they immediately think of the logo of the business, like the graphic image and perhaps the tagline. But a brand is much more than the logo. A brand is what your business stands for. It is what people see it as standing for and what they come to expect from it. B It is the ability of the business to deliver this consistently, time after time.
Brand and logo
On this slide, you’ll see on the left-hand side the logo image of John Owens International and below that, we’ll see the name, the logo image, and the tagline, structure, growth and freedom, because this is what we deliver to our clients. On the right-hand side is our brand. It tells you what we do, who we are and our values.

Your Brand Must be in Everything You Do

Your brand must be in everything you do. It must be on your stationery, on your website, in your training, on your business cards, in the way you answer the phone. Everything about your brand must make you stand out.Your brand should be in everything that you do.
Your brand is your promise. It tells people everything about you. It tells them who you work with, what you do, how you do it, how you do it better, and why they should trust you, which brings us back to the original five questions that I listed.

Clarity is Key

If you ask and answer these questions for yourself in your business, it will bring great clarity to you, to your team, to your clients. If you’re looking for investors, it will bring great clarity to them, making your job a lot easier.
If you can answer these questions succinctly, it will also enable you to build your ‘elevator pitch’, which means that whenever anybody asks you what you do and what your business is about, you will be able to tell them quickly, very clearly, and in a way, that’s compelling.
I hope you enjoyed this article and now have a clearer understanding of why your business needs a clear brand and identity. In the next article, we will be discussing your passion and purpose.

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The Three Hats Error that Trips Up Entrepreneurs

Three Hidden Roles

Every time a business man or woman sets up an incorporated business, they immediately take on three key roles, which are:

  • Shareholder
  • Director
  • Executive

You may say, “So what?” But the fact is that most people don’t realise that they’ve assumed these three key roles, and as a result, the roles get left undone or are done incorrectly, which thas got major repercussions for the business.

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Three Hats to Wear

In this article, I’m going to explain what each of these roles means and the advantages it will bring to your business by knowing which hat to wear and when.
Learn the Three Hats Trick and accelerate your business growth.

The Role of a Shareholder.

As soon as you invest any money in an incorporated business, you become a Shareholder. You own shares in this business, and the question you should be asking is, “What return is it going to give me on my investment?” If the answer is bnone or very littleb, then you should take your money out and invest it elsewhere that will give you a fair return on your investment.
Now, when you put your money into a business you become a Shareholder. However, a shareholder does own the business or anything in it!!!
This comes as a surprise to many people. What you do own are shares in the company, and this gives you the right to vote at annual Shareholders meetings, and the right to elect Directors to the Board of Directors.

The Role of a Director

The next role that is taken on is DirectorDirectors. Directors do not run the business, and Directors do not own any part of the business. Directors (acting together as a bBoardb) are there to provide what’s called Governance, which is to ensure that the business is run correctly by the Executives and meets all its legal and statutory obligations.

The Role of an Executive

Then, there’s the role of Executive, and it is the Executives that run the business and manage the business teams on a day-to-day basis.

Director Vs Executive

Now, there is confusion in many quarters about the difference between Directors and Executives.
I like to look use this sporting analogy to clarify the difference between these two roles.
Directors are not executives
The Directors are like the referees on a playing field. They know all the rules, and their job is to make sure that the players abide by the rules, but the never take part in the game. In fact they are not allowed to.
The Executives are the players on the field. They run the business, but they’re responsible for running the business in accordance with the rules. If they don’t, then the Directors, the referee, is there to call them to account and, they are not obeying the rules, they can send them off the pitch!

Who Owns What?

Now, earlier I said that Shareholders own nothing in the business. This is important, because some of our clients have had Shareholders, who, because they hold a shareholding in the company, believed that they owned a share of the company, and everything in it. They would even come and take things out of the warehouse.
There is a name for such an action, it is called theft! This is because an incorporated business is an entirely independent legal entity. Everything in the incorporated business belongs to the incorporated business and cannot be taken from it without the correct permissions from the Executives, who are responsible to the Board for protecting the assets of the business. Shareholders have no legal rights to these assets, no matter how big their shareholding!!!
Shareholders own nothing - Directors do not run the business.
I also said that Directors do not run the business. I have seen many businesses where Directors come in and start telling the staff what to do. This is so wrong! Directors who do this are overriding the executive (whose role it is to run the business), which is not good for the business and, all to often, causes chaos.
Directors have no right to tell any of the staff what to do because the only role that directors have the legal right to perform is to provide governance.

Business Experts

The roles that most people who start up businesses play in the businessB are as artisans and business experts.
It could be that you’ve set up a fitness company, you’ve incorporated and you are the main person there who’s doing all the fitness training.
Business artisans and experts
That’s fine, but that’s your operational role within the business, but because you’ve incorporated, you’ve also got a responsibility to ensure that the business has someone to play the role of the CEO, Executives, etc. to be the CEO, B Someone to make sure that your business is on target and growing, and to look after the finances.
You’ve got a responsibility as a Director to make sure that your business is operating legallyB and you have a responsibility to yourself as a Shareholder to make sure that the business is giving you a fair return on investment. If it’s not, you need to take some action, as the value of your investment in the business might actually beB diminishing.

Do You Need to Hold Meetings?

All these roles must be carried out actively. You can’t just be an Executive by name, you really must hold management meetings, and these ought to be held at least once a week with your team.
Executive / management meeting.
Your team could be yourself and even some assistants, online assistants, or one or two other people, but you need to bring your team together (even if that is online) at least once a week to let them know what’s happening, where you’re going, what your strategy is, how you’re going to get there and their individual roles and responsibilities in getting you there.
As a Director, you ought to hold board meetings at least once a month. This is to make sure that the business and Executive are on track. This, is where you sit and ask yourselves different questions because you could in fact be playing two roles, you could be attending as the CEO, but you need to be a board member to hold the CEO to account.
Board meetings are vital for a successful business
If you’re not used to holding board meetings, it’s very useful to have an external advisor on your board. This is a role I play for many small to medium businesses, because they need help in knowing what the board can do and how the board can best hold the Executive to account and help the business to grow.
A good Board is really a great help in getting you accelerated to where you want to be and carrying your vision and your message to the world.
Shareholder meetings are held once a year. All the Shareholders are invited to attend, and they are chaired by the chairman of the board.
Shareholder meeting
Here, the board answers to the Shareholders whose main question will be, “Are you giving us a return on our investment?” If they are not receiving a return on their investment, then they will want to know why and how the board is going to rectify this going forward.

Pay Yourself!

A major consideration that many business people overlook is that they are playing many roles, but are they paying themselves for these roles?
As a Shareholder, you want a commercial return on the money you’ve invested into the business, and your business must be returning that to you.
As a Directors, you should be paying yourself Directors fees for the tasks that you carry out on behalf of the board.
As an Executive, you ought to be paying yourself a salary, or if you’re the CEO you should pay yourself a market salary for a CEO in a business of your type and size.
Then you’re the business expert, and as the business expert, you ought to be paying yourself a good commercial rate for what you are doing.
You should never forget that the incorporated business is not you. The money in it is not yours, so make sure you pay yourself. That’s the only way you can get the money out.
Remember, the business is there to serve you. It is a vehicle for paying you, but also a vehicle for carrying your message to the world, but the incorporated business is not you. Pay yourself, pay yourself, pay yourself.

Governance

Earlier I talked about governance, below is a definition which I hope will bring you clarity.
Governance definition

Summary

To summarise, when you start a business, you may initially find yourself wearing three different hats.

  • Shareholder
  • Directors
  • Executive

By knowing the differences and the responsibilities between the three, will bring you clarity and help take your business to the next level.
In the next article, I will be looking at Identity and Brand and what these mean to your business.

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The Power of Personality Profiling When Building Your Dream Team

We are all unique! We may all have been created equal but we were not all created the same. Each of us has a unique set of gifts and abilities and a unique set of flaws and foibles too.
No matter what our skills and experience, we all have natural aptitudes which will make us good at some things, fair to mediocre at some others and bad at some.
Knowing this is powerful when building your Dream Team and it’s best to know this before you hire! To find out about the person and their personality profile, you’ll need to do a personality profile test.
I love this quote, “Everyone is born a genius, but if you judge a fish by its ability to climb a tree, it will live its whole life believing that it’s stupid.”
So, if we want people who are capable of climbing trees in our business, let’s not hire people whose main strength is swimming. Then, we’ll be happy and they’ll be too .

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What is Personality Profiling?

Personality profile testing is a means of identifying the type of things that we are good at and the type of jobs that would really suit us.
It will also identify the type of things that we’re not good at and the type of jobs we should avoid.
There are many types of personality profile test out like Meyers Briggs, DISC, Wealth Dynamics and many more. Which should you use?
Well, I recommend Wealth Dynamics. This is the world’s leading entrepreneur personality test. It’s already been taken by over 250,000 entrepreneurs. And, I can honestly say it’s the most intuitive and pragmatic that I have come across. I use it for all my teams and recommended to all my clients.

Wealth Dynamics Profile Testing

Let’s look at the elements of Wealth Dynamics and we’ll use the diagram below to move all the way through it.
Wealth Dynamics personality profile test

The Wealth Dynamics Diagram

It has eight personality types, which are:

  • Creator
  • Star
  • Supporter
  • Deal Maker
  • Trader
  • Accumulator
  • Lord

Let’s look at these in a little bit more detail.

The Creator Profile

Their strengths include:

  • great at getting things started but terrible at finishing
  • they are always using their quick thinking and imagination to get out of trouble
  • their flow comes from expressing their creativity in valuable ways

Their weaknesses include:

  • failing because of their over optimism as to what their business and their team can achieve
  • this optimism has led many to take on far too much, leaving them little time to do what they do best

Successful Creators include:

  • Walt Disney
  • Richard Branson
  • Steve Jobs
  • Bill Gates
  • JK Rowlings
  • Sara Blakely
  • Jack Ma
  • Elon Must

The Star Profile

Their strengths include:

  • excellent at promoting, be it a business, product, service or person
  • they are quick on their feet and can sometimes seem to dominate the conversation
  • they are at their best when they use their sparkle to shine the light on others rather than on themselves

Their weaknesses include:

  • get frustrated that others canbt do what they can do
  • without the right deputies, make poor managers

Successful stars are happy to leverage on the products and platform of others to perform their magic. They lead from the front with their name shinning in lights, while others count the receipts.
Successful Stars include:

  • Oprah Winfrey
  • Paul Newman
  • Arnold Schwarzenegger
  • David Copperfield
  • Hillary Clinton
  • Beyonce Knowles
  • David Beckham
  • Martha Stewart

The Supporter Profile

Their strengths include:

  • excellent with people and will always be found in the middle of the party
  • often distracted by supporting others
  • their flow comes from being actively involved in leading others

Their weaknesses include:

  • struggle to find the right business to start
  • not recognising that they should be deciding which value Creator they should support

Successful Supporters include:

  • Jack Welch
  • Michael Eisner
  • Steve Case
  • Steve Ballmer
  • Meg Whitman
  • Sheryl Sandberg
  • Howard Schultz
  • Ginni Rometty

The Deal Maker Profile

Their strengths include:

  • Deal Makers are so down-to-earth.
  • they have a strong sense of timing and loyalty and always make sure everyone is OK.
  • they are best when connecting people and ideas together for everyonebs benefit.

Their weaknesses include:

  • struggling Deal Makers are often stuck trying to start a business
  • get caught up in detail, as the idea of wheeling and dealing, wining and dining, just sounds like too much fun!
  • every successful Deal Maker has picked a niche from which to attract the best deals in their market.

Successful Deal Makers include:

  • Donald Trump
  • Rupert Murdoch
  • Masayoshi Son
  • Charles Koch
  • Susan Wojkcicki
  • Lynda Resnick
  • Sheldon Adelson
  • Jorge Paulo Lemann

The Trader Profile

Their strengths include:

  • Traders have their ear-to-the-ground. They will always know who upset whom, and how to keep things fair.
  • quiet by nature, they will often only share if asked
  • they find their flow in keeping the peace and keeping things on time.

Their weaknesses include:

  • many failed Traders have never taken control of the trade.
  • as reliable and hard-working employees, they may see either the buy side or the sell side of a transaction within the company they work for, but often never the two together
  • only when they are in control of both sides will Traders become aware of the natural talent that they have.

Successful Traders include:

  • George Soros
  • Jim Rogers
  • Carl Icahn
  • Azim Premju
  • Melinda Gates
  • Joanne Lui
  • Peter Lynch
  • John Templeton

The Accumulator Profile

Their strengths include:

  • Accumulators are excellent project managers and researchers
  • they are always careful in their work. Donbt expect them to be overly creative
  • their flow comes from collecting and organising whatbs already there.

Their weaknesses include:

  • Accumulators often fail because of keeping too much to themselves, rather than building the advocates who will network on their behalf
  • they rarely act on impulse, and fail if they have not set the criteria to take action
  • accused of procrastinating, they simply need more data to make an informed decision.

Successful Accumulators include:

  • Warren Buffett
  • Benjamin Graham
  • Carlos Slim
  • Li Ka Shing
  • Gina Rinehart
  • Helen Clark
  • Leonardo Del Vecchio
  • Joseph Safra.

The Lord Profile

Their strengths include:

  • Lords are great at the detail
  • they wonbt be the loudest voice in the room, but are the best at researching and studying information and coming up with considered decisions
  • they are best when looking after all the details.

Their weaknesses include:

  • Lords love certainty and hate risk
  • they prefer to keep to themselves
  • those who havenbt yet found their wealth often fail to see their analytical skills, risk aversion and need for control as their greatest strengths.

Successful Lords include:

  • Andrew Carnegie
  • Sergey Brin
  • Larry Page
  • Robin Li
  • Angela Merkel
  • Janet Yellen
  • Indra Nooyi
  • Mukesh Ambani

The Mechanic Profile

Their strengths include:

  • Mechanics are the best at completing things
  • as perfectionists, they sometimes seem to take longer to get things done
  • their flow comes from taking things apart and finding better ways to put them back together.

Their weaknesses include:

  • many Mechanics have yet to get going because they are still trying to figure out what business to start
  • many Mechanics have companies with better systems than their competitors, but they have not leveraged these systems with stronger products produced by others
  • or their business is limited by their autocratic management style and high staff turnover.

Successful Mechanics include:

  • Ray Croc
  • Sam Walton
  • Michael Dell
  • Mark Zuckerberg
  • Jeff Bezos
  • Marissa Mayer
  • Christine Lagarde
  • Loretta Lynch
  • Tadashi Yanai

Those were all the eight personality profile types of Wealth Dynamics.

Youbre First!

The first person that ought to do the personality profile test in any business is the founder/CEO/boss.
This will tell you which tasks you will be good at, those that you are not so good at and those you should definitely not be doing!
Knowing your own personality profile is a very powerful aid in deciding which of your dream team you should recruit first and the order in which you can recruit the rest. I explain how to do this in my article, bBuilding Your Dream Teamb.
Knowing your own and your team memberbs personality profiles is not just good for business performance, it is also great for your working relationships as it enables everyone to better understand how everyone else thinks and acts.

Happy Teams

In my own business, I used to think that my working relationship with my business and life partner, Pam, would be so much better if Pam were more like me. Then we did our Wealth Dynamics profile tests. I turned out to be a Creator, Pam was a Lord.
Being a Creator, I love starting new things but I don’t always love finishing. Pam, being a lord, is great at detail and great at finishing. If Pam was a creator like me, we’d both be starting new things all the time and never finishing, nothing would get done. But now, we really complement each other.
The other thing it told us, is that as a Creator, I am not suited to be the CEO of the company which is a role I was in. So, I stood down from that role. Pam stood in, and now our business is much better off because of that.

Like to Know More?

If you would like to find out more about how personality profiling can supercharge your team and business performance, please contact me atB If you would like to know anything more about personality profiling, please contact me at john@jo-international.com

Staying Connected

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Which Team is Better for You Right Now? Real or Virtual?

In a previousB article, we looked at a really powerful method for recruiting your dream team.B In this article, we’re going to ask and answer the question, “Should I build a ‘Real’ /B ‘On-the-ground’ team or a ‘Virtual’ / ‘On-the-web’ (virtual) team?”
There are advantages and disadvantages to both, so we will work through a series of questions that explore all of the pros and cons.B These questions are very pragmatic because I’ve had to ask and answer them myself when building myB own teams.
Real or virtual team - which is best for you right now?

Other Reading Formats

For your convenience, IB have also made this article available in video and podcast format. Click Here to view the video,B B Click Here to listen to the podcastB or Click Here to listen to the iTunes version

No Such Thing As a Virtual Team!

I try to avoid using the term bvirtualb when referring to team members that are bOn-the-webb. This is because, to me, there’s no such thing as a ‘virtual‘ team member. Any person that’s a member of your team is a real person and a real member of your team. They are real person with whom you must build a real relationship. They are real team members, but they’re bOn-the-webb as opposed to bOn-the-groundb.

Pros and Cons for bOn-the-Groundb Team

Letbs look at the pros and cons of building an bOn-the-groundb and building an bOn-the-webb team, starting by looking at the negatives for bOn-the-groundb.
Now because the people are physically present, you’ll have to:

  • provide office space, desk, computer etc for them
  • provide facilities such as toilets, break room, kitchen etc.
  • ensure that you have sufficient work to fully occupy them for the whole time that they are there.
  • cover the costs of holidays, sickness, accident insurance for accidents, etc, and

bOn-the-groundb team members could be harder to dismiss if they underperform, depending on the local state or national employment legislation.
Now let us have a look at the positives for the bOn-the-groundb team.
Since they are physically present, it’s easier to:

  • make them feel part of the business, which can engender greater loyalty, so that could be an advantage.
  • have management of the whole team and control of their quality.
  • take on the company ethics, because everybody is physically working together.

Pros and Cons for bOn-the-Web Team

Let’s first look at the negatives for the bOn-the-webb team.
As the people are not physically present, you will need to be very specific when defining your requirements.
If you define the wrong thing, they will deliver it. It’s not their fault, they haven’t done the wrong thing, they have given you what you asked for.
Because the team is working remotely:

  • It can make it harder manage them closely for quality
  • Every request for work that you issue will need to define the quality as part of the requirements that they must deliver against.
  • It might be difficult to monitor their time worked.

Don’t let this put you off. If you’re not good at managing people online, then what you need to do is get somebody into your team bOn-the-groundb, or indeed, bOn-the-webb, who is good at managing people. So, you can, in fact, hire a manager to manage your team.
The positives for the bOn-the-webb team are many and include the following:

  • You only need to hire for specific tasks
  • You hire at the hourly rate that suits your budget at the time in your business
  • You only pay for the hours that are worked.
  • No need to provide office or equipment
  • No need to provide facilities
  • No need to provide training, you hire the person with the skills already
  • Hire a specific skill for bone offb tasks that might never need to be repeated
  • Ideal for tasks for which you would not know where to start, but they will

For example, you’re setting up the whole of your social media marketing, you don’t need to learn about it. You hire somebody who knows all about it and has already done it.

Which Should You Choose?

These are some of the pros and cons, but should you hire an bOn-the-groundb or bOn-the-webb team member?
Here are two further questions you need to ask yourself.

  1. Do your customers need to meet your team physically face-to-face?

For example, if you run a high-street store, then the answer to this is a definite byesb because your staff will need to be there in the store manning the counters, serving the customers.
On the other hand, if you run a website development company, then online face-to-face is perfectly acceptable and an bOn-the-webb team is ideal for you.

  1. Do you need to meet your team physically face-to-face each day?

Unless you are running something like a high-street store or a gym, then the answer to this is most likely to be bnob, and so an bOn-the-webb team is ideal for you.
Indeed, there are very few circumstances in which an bOn-the-webb team will not meet your needs. This gives you the ultimate flexibility in building your team:

  • With the skills that are ideal for you
  • That can be available 24 hours a day
  • That is not just multi-skilled, but multicultural
  • That will make your business so much more flexible, robust, and scalable.

Successfully using bOn-the-webb team members is not just a theory. We, and many of our clients, use bOn-the-webb team members to do tasks that include:

  • Website creation and management
  • E-commerce
  • Social media marketing management
  • Online marketing analysis and research
  • Online content creation and graphic design, and lots, lots more.

There are fantastic people with fantastic skills out there.

Build a global team on the web
Build yourself a Global team on the web

Respect Your Team

One thing I will strongly emphasize is that bOn-the-webb team members should be seen as flexible rather than disposable. If you build up a good relationship with your bOn-the-webb team, you can have reliable skilled team members that you can use time and time again over the years whenever the need arises.
We know. We have done this and have had some team members that have been with us for years and still deliver quality work every time we contract them.

Conclusion

I have tried to supply a comprehensive set of questions and answers that will help you to decide which is better for you, bOn-the-groundb or bOn-the-webb.
In the next article in this series we will look at the power of personality profiling. This is a powerful way of removing the guesswork from building your dream team.
Not only will we talk about tem members profiles, we’ll talk about your profile and what job you are best suited to do in the business.

Staying Connected

If you would like to have the next articles in this series delivered directly to your inbox, the please fill in your details in the box below and press the Submit button.
I look forward to staying in touch with you.


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Supercharge Your Business with a Dream Team!

“If you don’t have a team around you, then you don’t have have a business – you merely have a job”

One of the keystones to business success is building a team of passionate, capable individuals that will help you deliver your message and vision top the world.A dream team is key to business success
When we are starting out in business, building our dream team can seem like a real challenge. So many questions arise like, “Do I really need a team?”, “Can I afford one?”, “Who should I hire first?” and many, manyB more.
In this article I describe a really effective method for navigating your way through (and overcoming) these challenges and building the dream team for your business.
One of the biggest mistakes entrepreneurs make is thinking that they ought to do it all ourselves. This is so wrong. No great enterprise or movement was ever built by one person. It might have got the motivation from a great leader, but to bring it into being required a team, and so it is with your business, your dream.

Other Formats

For your convenience, we have also made this article available in video and podcast format.

Click here to view the videoB or Click here to listen to the podcast.

Big Dreams Require Dream Teams

If you have a big dream and want to take it to the world, then you need to build your dream team to help you do so.
Where do you start? Well, in the article Giving Your Business the Power of Structure, I showed you how to build a powerful model to give structure to your business and this is the business management model.
Let’s have a look at this for our example business.
Example business structure for ABC Express
The diagram above is the business management model for ABC Express. What does it tell us? The coloured boxes tell us all the activities that need to be done in the business to deliver the promise of the business to its clients.
The yellow boxes along the top tell us all the positions that need to be properly managed in the business in order for the rest of the team to deliver the business’s promise.
Who is going to do all these activities? Well, when you first start off in business, it will usually be you doing everything. If you continue to do everything, you’ll end up in trouble.

Too Many HatsB is NOT Wise!

Doing everything yourself is about as sensible as wearing many hats at the same time. This may be an entertaining circus skill, but in business it’s not a smart thing to do at all.
Wearing many hats can be very silly
Why shouldn’t you wear all these hats? Well, firstly, you will not have the time to do everything. Secondly, you will not have the energy. The third, and most important, is that you will not be good at everything. Because of this, things will be done badly, things will be left undone, you will fail to deliver your promise to your clients.B All of these will sink rather than grow your business.
Always remember the following:

“If you don’t have a team around you, then you don’t have have a business – you merely have a job”

How and where do you start to build your team? The best place to start is with the activities in the business management model.

Hiring For Skills

Let’s look at how this can be done. Under Manage Marketing, we have got the activity “Post to Social Media”. We look at this activity and we ask ourselves, “What skill is required to do this?” We get the answer Skill A, whatever that may be.
We look at the next activity and we ask the same question. What skill is required to do this? Again, it’s skill A.
Slide16
Then the next activity, “Do Online Advertising”. What skill is required to do this? This will be different to the skill needed for social media and blogging, so let’s call it Skill B. Finally, “Do Press Advertising”. Again, this requires Skill B.
Slide20
Imagine we repeat this process for all the business, listing the activities and showing the skills needed to do them all. We might end up with a list such as this.
Slide21
We now ask, “Which skills are you passionate about? Which skills are you good at? Which skills are you not good at?” and “Which skills do you hate doing?” Imagine we go through the skills, ask those questions and we end up with a table looking something like this.
Skills table 1
What we do is we look at the skills in the right-hand column, those skills you hate, and these are the positions we recruit for first. These are the skills we need to get a team in to do.
Next, we look at the skills that you’re not good at, and we recruit for these next.
After that, we look at the skills that you are good at. Because we want to free up your time so that you can concentrate on what you’re passionate about, we recruit for those next.
Then the skills that you’re passionate about, well, you do these yourself because you’re the very best person to do them.
Skills table - in which order do you recruit for skills?
Following this process, you will know what skills you need in your business, which ones you have yourself, which you need to recruit for, and what order to recruit for them.

Hiring Managers

The next thing you need to know is what managers you need in your business.
A manager is someone who will be responsible for getting things done in a specific area, the right way, by the right people, at the right time, and for managing the team in that area.
Which managers do you recruit first? We follow a similar approach to that for skills.
First, we hire for the areas in which you hate taking responsibility. Next, we hire for the areas in which you have no or little expertise. Lastly, we hire for the areas in which you have no time to address.
Let’s go back to the business management model and we look at the area Finance Manager. We ask, “Do you love or hate doing this?” If the answer is that you hate it, then we hire a Finance Manager.
Hiring a finance manager
We then look at the role of HR Manager and ask, “Would you like doing this?” If you say, “No, I’d hate it”, then we hire a manager.
Then we look at managing marketing. It’s not that you hate this, but you don’t have the skills to do it. Again, we hire a manager.
Hiring the right managers
The other three areas you’re either good at or love, so in the early stages you do all these yourself.
There we have it. This approach shows how to hire all the people you need in your team.
First, hiring for activities and skills, and then hiring for managers.
This enables you to surround yourself with the team you need to build your dream and deliver your promise to the world.

Real or a Virtual Team?

In our next article, we’ll ask the question, “Do you hire a real or a virtual team?”
Again, that dependsB on what stage of development you’re in. We’ll show you how to make the right decision.

Staying Connected

If you would like to have the next articles in this series delivered directly to your inbox, the pleaseB fill in your details in the box below and pressB the Submit button.
I look forward to staying in touch with you.

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If you found this post to be of value, please share a link to this page with family, friends and colleagues.

Giving Your Business the Power of Structure

Who Needs Structure?

If your business is not big, why does it need structure? Surely only big businesses need structure?
Well, the fact is that a successful business does not get structure when it gets big. It gets big because it has the right structure.
Structure should not be confused with bureaucracy, which brings complexity and inefficiencies. Good structure will always bring simplicity, effectiveness, power and efficiency to your business.
Giving your business an effective structure is one of the most empowering things you can do for it.
In this article I explain a simple, yet very powerful, technique that you can use to build structure into your business, no matter the type or size it currently is.

Other Formats

For your convenience, we have also made this article available in video and podcast format. Click here to view the video or Click here to listen to the podcast.

Whatbs Wrong With No Structure?

What’s wrong with a business with no structure? Well, lots of things, that include the following:

  • There’s no clear list of all that needs to be done.
  • There’s no clear definition of who should do what.
  • There’s no clear defined responsibilities, so things get left undone.
  • There’s no consistent standards for what must be done and that really affects quality.

With all the above faults, it will be very hard for your business to grow successfully. That’s why it needs structures.

A Simple Powerful Technique

The technique described in this article is a simple, yet very powerful means of bringing structure to any business of any type or size.
The first thing you need to do is to get hold of a set of Post-It notes and start writing down everything that needs to be done in your business.
Let’s start with an example business. The following is a list of all the things that need to be done in it:

  • create blog posts.
  • do some press advertising.
  • manage the inventory of the products.
  • collect payments from people to whom we supply goods.
  • make the products that we’re going to sell to people.
  • schedule the work of our team.
  • set the correct product prices so that we’re selling at a good margin and making a profit.
  • train our team so as they are doing the right things in the right way.
  • pay our team because they are doing a good job and we want to keep them.
  • sell physical products.
  • sell online products.
  • post our message to social media.
  • manage our sales team. pay our suppliers.
  • recruit our virtual team members.
  • recruit our physical team members as well.
  • sell online products,
  • dispatch orders to customers.
  • invoice our clients.
  • order materials to make our products

Buildling business structure using Post It notes

Our complete collection ofB activities

Start Building Groups

Now, once we’ve listed everything that we need to do, we then need to start collecting the individual items together into groups that have something in common with each other.
Let’s look at these four things, which are:

  • post to social media
  • do online advertising
  • create blog posts
  • do press advertising.

Let’s gather them together and put them into a column, and we’ll think of a name that brings them under one banner. I would say that this is all about managing the marketing in the business, because marketing is all about getting your message out to the general public and your potential clients. Add a box with that name to the top of the column.
Business structure for manage marketing

Activities for managing marketingB

Now let’s look at the next set which are going to be:

  • manage sales team
  • set product prices
  • sell physical products
  • sell online products

Letbs gather those together and put them into the next column. We now we need to think of a name that would link all of these. I think a good name for these would be to bManage Salesb. Again, we put a box with that name at the top of the column.
Business structure for Activities for managing sales

Activities for manage sales added

Let’s gather the next set together and bring those into the next column:

  • order materials
  • make products
  • manage inventory
  • dispatch orders

A good name for this would be bManage Productsb, and we put that at the top of the column.
Business structure for manage sales

Activities for manage products added

Repeating the process again for the next set we have:

  • recruit physical team members
  • recruit virtual team members
  • train team
  • schedule team

bManage the Teamb would be an appropriate name for this set.
Business structure for managing the team

Activieies for manage the team added

That leaves our last set of four, which we’ll again gather together.

  • invoice clients
  • collect payments
  • pay suppliers
  • pay team

Business structure for managing finances
And giving this a meaningful name, it’s bManage the Financesb.

An Overall Group Name

The following diagram shows the complete set of activities for our business.
Business structure for managing the business
We then add another box at the very top of the diagram, which is “Manage the Business”.
So here we are. We have built a diagram of everything that has to be done inside this business, and we brought it together into a nice meaningful structure. We can label this diagram with the name of the business, we have called it ABC Express. This is the functional or activity structure of our business. The activity structure means it is all about the doing. These are all the things that have to be done within ABC Express.

Management Structure

Having built our activity structure, we can then take another step and start to identify all of the responsibilities within the business.
If we look at each of the boxes at the top of each column starting with the combined activity called manage marketing, and we ask ourselves, “Who within the business would be responsible for this?”, the answer would be the Marketing Manager.
We could also do the same for manage sales, where the responsible person would be the Sales Manager. Again, for manage products, Production Manager. Manage the team, the HR Manager. Manage the finances, the Finance Manager.
Right at the top of the diagram, the person responsible for managing the managers and the business is the CEO or the Chief Executive Officer.
If we add some lines joining the boxes on the diagram, it gives us a full management structure for our business. We can then add the business name, “ABC Express”.
Overall business management structure for ABC Express

The overall business activity model and management structure for ABC Express

You can do this for your business no matter what size it is. These structure diagrams are very powerful. When you put structure into your business, you’ll clearly know all that needs to be done. It just won’t be in your head. It’ll be out there so as everybody in the business understands.
You’ll know who should do what. You’ll have clearly defined responsibilities so that things get done. You can develop clear standards of how things ought to be done so as they are done right time, first time, every time.
All of this will make life much easier for you and enable you to grow your business to any size that you want it to be.

Your Management Structure

What does your business look like right now with regards to who’s responsible for what? If you started where most of us have started, it’ll look something like this.
Who’s the person responsible for marketing? The Marketing Manager? Well, that’s probably done by you. Responsible for sales? Who’s the Sales Manager? That’s probably done by you. Responsible for production? Done by you. Who’s the HR Manager? Done by you. Who’s the Finance Manager? Done by you. Who’s the CEO? Done by you.
Slide68
Now that’s okay. That’s where we all start. But if we want to get out of there, then we need to bring structure, which brings simplicity, effectiveness and efficiency.
Bringing structure is very powerful and will enable us to start building our dream team and to get it right first time! In fact, putting your business structure in place is the first step in building your dream team.
In the next article in this series, I’ll show you how to use your business structure model in order to know all that needs to be done, know who needs to do what, how to build your dream team, who to hire first, and how to minimize your risk when building your dream team.

Staying Connected

If you would like to have the next articles in this series delivered directly to your inbox, the pleaseB fill in your details and click on the “Submit” button.We look forward to staying in touch with you.

Want to Excel in Business? Then Build Your Dream Team!

Every successfulB business, big or small, has, at its core a dream team.
The fact is, if you don’t have a team, then you don’t have a business, you have a job!A dream team is key to business success
In this interview with Mind The Business radioB I explain why, if you want to be successful in business, you need to surround yourself with a dream team and describe the steps to take to do this.
Have a listen and see what you think.

 
If you like what you hear, then please share a link to this page with yourB friends and colleagues.
If you would like to know more about working with me toB help you build yourB team and grow your business then email me at john@jo-international.comB or send me a message. I look forward to hearing from you.B