Business Turnaround Workshop

Working For Next To Nothing?

With your Host

John Stringer

Before we begin

Reducing Stress Levels

Turning PAIN into Profit

Repeating patterns

Delivery time – 45 mins

Questions – 15 mins

Networking time - ?

Why should you listen to me?

Incredibly passionate about business

Created exceptional results for clients:Grown Revenues from $880K - $1,267M (12)

Turned Monthly losses from $40K - $5K Profit (4)

Turned Annual loss of $50K – $350K Profit (12)

Grown Revenues from $300K - $1M (32)

Developed a strategy to mitigate the potential of $100,000 in fines for a client

These clients all hand

something in common

They were all ‘stress

buckets’

STRESS – W.T.F!

Stress – W.T.F - is it?

A state of mental or emotional strain, or tension resulting from adverse or

demanding circumstances

Business StressInability to concentrateOften get sickBody achesHeadachesIrritabilityTrouble falling asleepChange of AppetiteAnxiety Levels up

GOOD and BAD stress – there is a difference

GOOD stress – beneficial & motivating

BAD stress – causes anxiety & health issues

GOOD stress

Tends to be short term

Pushed to achieve greater things

Control over the outcome

BAD stress

Can be long or short term

Accompanied by feelings of helplessness

Begin to feel compressed or trapped

STRESS in Business

# 1

Female C.E.O

Business built over 19 years

Revenues in excess of $1.34M

Strong Cash Flow – no debtors!

Trouble paying bills on time

High Blood Pressure

What didn’t she know?

Cash Flow does not equal Profit

Operating without a Budget

‘Misplacing’ Supplier Invoices

The advice she was getting was flawed

There were no checks and balances

What did she do?

Developed a Budget

Fixed ‘Misplacing’ Supplier Invoices

Developed a Managers Reporting tool

Outcome: her stress levels have started dropping with the change in hours worked

How could you manage stress better?

Watch out for stress over-load

Know your stress triggers

Exercise – reduces stress hormones

Relax – fight-or-flight takes its toll

Manage your Time

Be Realistic – pulling yourself in different directions will only stress you

Turning PAIN into Profit

What is the secret to playing

monopoly?

Managing your money

wisely

Aside from Bankruptcy & Audit,

Cash Flow is a term that is probably the most terrifying in

your Entrepreneurial dictionary

# 2

Meet …Tim

Exceptionally good ‘tradie’

Operated in the ‘cash economy’

Wife and two young children

Business situation

Turnover - $300,000 per year

Sole Asset – old Ford Trader Truck

Significant personal Credit Card Debt

ATO Assessment for $60,000

Business filing system

Cause of $60,000Assessment

Tim’s pain:

Turnover - $300,000 – bills mounting

Unreliable truck – always being fixed

Significant personal Credit Card Debt

Working 60+ hrs per week for $18/hr

Tim’s GAIN:

Simple business systems & process

Sought ‘external’ help to manage admin

Measure & Monitor business results

Went from $0 profit to $250,000 - (32)

1. Anticipate everything

2. Bill promptly

3. Pay your bills on time

4. Hoard Cash

5. Market your business

5 Things you Need to Know

STOP repeating patterns

7Common Mistakes

Business’s Make

Poor Attention to Detail and Poor

Management

Possible Solutions

Outsource your number crunching

M.B.W.A

Invest in a mentor – another pair of eyes

Being Overworked and Stress Related

Problems

Possible Solutions Give yourself time to

relax

Avoid major errors

View problems as challenges

Lack of Staff Motivation and

Investment

Possible Solutions

Set valid KPI’s with incentivised goals

Work on ‘staff buy-in’ leverage their skills

Don’t understand the power of ..’job well done’

Obsolete work approaches and Insufficient tools

Possible Solutions

Outdated tools – check out outsourcing

Planned replacements of IT gear

Staff Training – helps with motivation

Ignoring Your Family and

FriendsPossible Solutions

Working long hours – find a way to make it up

Make time for those magic ‘child moments’

Holding your smart phone more than your partners hand?

Failing to Lead by Example

Possible Solutions

Be part of your employees everyday lives

Relate to People – bury dysfunction

Tackle your enjoyable tasks first – build positive thoughts

Avoiding or Disregarding

Social Networks

Possible Solutions Outsource if you are

under resourced

In the web environment – a CRM system is a must

S.E.O and regular website maintenance will help

“If you want the answer - ask the

question.”

― Lorii Myers

Feel like discussing you business and its current performance?

I am offering FREE 60 minute strategy sessions if booked in the next 2 days:

Mob: 0408 729 507

Or simply hand me your business card at the end of this morning

Sat 19th

Brisbane TBA

www.eventbrite.com/e/one-day-business-turnaround-workshop-tickets-22437475092