Creating a Business Model that Fundamentally Works
15 Critical Steps you Need to Know
Event Type: Online Webinar (all welcome)
Register for your preferred date below
CLIMAX BUSINESS STRATEGIES CURRENTLY HAS NO DATES AVAILABLE FOR THIS WEBINAR. IF YOU ARE INTERESTED IN FUTURE WEBINARS PLEASE FEEL FREE TO GIVE US AS CALL ON 1300 585 299. WE WOULD LOVE TO HEAR FROM YOU.
This free 1 hour webinar is for business owners sick of hearing “gurus” tell them that with a few magical tweaks you can create a great business. The truth is that business is HARD, HARD, HARD and without an exceptional business model anything else is just delaying the inevitable.
I am a Chartered Accountant and independent business valuer who is regularly appointed by solicitors and other accountants to pick apart businesses and provide a detailed assessment to the courts. On this webinar I’ll cut through the hype and show you the truth.
Do you honestly think that a few well-intended tweaks to your corporate brand and social media strategy are going to make any real difference to your cash flow and business value?
Do you seriously think that a new website/flyer/brochure/ad is going to turn your business around or drive the bottom-line results to a new level?
Have you noticed yourself blaming the economy or your “stupid prospects” for not producing the revenue that you had hoped was possible?
Are you looking for a guru to ride in on a white stallion to give you those magical tweaks that will finally allow you to tell your family and friends the truth about how the business is actually performing, without dreading the inevitable “I told you so”?
When will you be ready to concede that your business model probably needs fundamental changes? Will there ever come a time, or is it too scary to consider given how far you’ve come and what you’d have to let go of? Do you have the guts to review the fundamental assumptions?
The problem is that most businesses never achieve their potential because no one ever took the time to build a strong business model at the outset, and as time goes on it becomes harder and harder to find sexy tweaks to fix a broken business model. Trust me I’ve been there myself.
Ever launched a post/tweet/share/upload/ad/email/letter and got no response and thought it’s not your fault that people just don’t care? The truth is no one cares about your business and no one ever will. Once you understand that, you can get over it and build a business model that doesn’t rely on the assumption that people will ever care about who you are or what you do.
The only thing you really need to plan is how to find a way to be first in line when a real person has a real problem that needs to be solved immediately for the mutual benefit of you both. Then you can build a profitable and scalable business model on the back of that specific situation.
And this isn’t about any of that sexy “give the market what they want” branding rubbish…this is about solving problems for people who are willing (and able) to pay and being able to deliver the solution with an iron-clad guarantee in a way that is the most profitable use of your time and resources. Importantly, it needs to be your “best” use of your resources, which means by definition that you need to consider other opportunities and associated opportunity costs, before you can make an educated assessment.
All this is obviously much harder than simply launching a website and waiting for the money to roll in, but you need to know that there are no shortcuts in business. You do it properly or you get a job…sorry to be so blunt, but I’m sick of hearing so called “gurus” saying that everyone can do it, or that it’s easy with the right business coach or the right “belief” or “why”.
Trust me, I run a number of small businesses and let me tell you, all of them are HARD, HARD, HARD, but with the right fundamentals and hard work (much of it in uncomfortable situations) you CAN hit the targets and generate positive cash flow. But it won’t happen by itself and it certainly won’t happen just because a guru told you so, or because you’ve bought the formula.
How do I know all this? Well I have been on both sides of the fence. I’m a chartered accountant and business valuer having given business advice for over a decade (I’ve been appointed as an independent expert valuer for over 60 businesses in the last 12 months alone) and I have also owned (I don’t anymore) a business coaching franchise which was part of a national group of 63 coaching franchisees. And do you know what was the only thing on the agenda at each quarterly franchisee conference…how to sell people business coaching services. I can’t recall in over 3 years ever having a meaningful conversation with other business coaches about how to make OTHER PEOPLE’S businesses grow. Needless to say, most of the franchises no longer exist.
So what do I mean when I talk about a “business model”? Here are some key issues to consider:
- Who is your target customer and what is it that specifically makes them so?
- How big is the customer’s problem and how much value is there to them if solved?
- Is the target customer willing and able to share that value with the person that solves their problem?
- What is it about your resources that enables you to solve that type of problem?
- What is your competitive advantage or the barriers to entry for others solving the same problem?
- How can you get the attention of the customer at the time they are ready to solve their problem?
- How can you establish real trust so that the customer believes you can solve their problem?
- How do you structure a guarantee so that you carry all of the risk if the problem isn’t solved?
- How do you price your solution so that it makes sense to the customer in proportion to their problem
- How do you manage the timing of payment so that you can manage the cash flow timeline?
- How do you deliver the solution in a profitable, predictable and scalable manner?
- How do you leverage off the past successes of solving problems for customers?
- How many separate micro niches can you identify and service?
- What other problems can you solve for your past customers?
- How do you structure all of this so that someone would write you a large cheque to buy your business because you have a system for solving problems and making profit?
All of the above issues are applicable and mandatory for every business I have ever seen or heard of. If you don’t have this stuff sorted out, then in my opinion you are only pretending and you need to get serious or get a job and let someone else be responsible for these issues. I’ll say it again…no coach/consultant/accountant/investor is going to be responsible for these things for you…it is all up to you. Get educated, get implementing and be responsible. Notice that branding/marketing/Facebook are not important elements in their own right, but if used properly can support each of the above objectives…they are a means not an end.
Like everyone in business, I have a huge opportunity cost for my time. So to allow me to go deeper on these issues and give real examples of how I implement them for myself and my clients, I am running a free one-to-many online session for business owners and executives who have had enough of tweaking their business and majoring in the minors. This is the only way I can justify spending the time. On the webinar I will show you exactly how I’ve selected a niche and I’ll share the marketing psychology and online tools I have used to grow the revenue in that niche. Remember, I’m the anti-guru so I’m not going to preach to you that I have all the answers, but I can guarantee you will walk away with the right questions to be asking yourself.
What gives me the right to speak on this topic?
I am a qualified Chartered Accountant who owns my own practice, specialising in strategic advice and business valuations for SME’s and executives of corporates. I have been engaged as an independent expert business valuer on over 60 occasions in the past 12 months alone, often engaged directly by solicitors, other accountants and the courts. My focus is to understand the fundamentals of the business and analyse past performance to predict future performance and business value from both financial and operational perspectives. I have degrees in commerce and economics from the University of Newcastle and I am a certified business broker and tax agent. I also have an active financial and management interest in a cloud-based software development company, which gives me a frontline insight working in the trenches of the new economy.
If you’re serious about business, register for the free webinar below.
TREVOR MONAGHAN (CA B.Econ B.Comm)
Chartered Accountant & Business Valuer
Climax Business Strategies
Event Type: Online Webinar (all welcome)
Register for your preferred date below:
CLIMAX BUSINESS STRATEGIES CURRENTLY HAS NO DATES AVAILABLE FOR THIS WEBINAR. IF YOU ARE INTERESTED IN FUTURE WEBINARS PLEASE FEEL FREE TO GIVE IS AS CALL ON 1300 585 299. WE WOULD LOVE TO HEAR FROM YOU.