Business Mastermind Podcast

In Part 3 of 3, Gavin shares with you stages 5 and 6 of his Business Growth Model, The Strategy Compass.  You will learn the SCALE model to grow capability and enable you to scale your business and the importance of action and accountability.

There are  6 steps you must get right for your business beginning with purpose and mindset (steps 1 and 2) Having clarity for your business and ensuring there is a clear message for everyone in the business, the team, your customers and the marketplace is discussed in detail in part 1.

In part 2 we talked about steps 3 and 4, getting the outcome, being clear about the goal and strategy (how to view it through the lens of values discipline) and the ‘how ‘ 

Now we are clear about where we are going, have the right mindset and are clear on the bigger ‘why ‘and purpose and have a strategy about how to get there we need to build the capability to scale the business using step 5, capability and step 6 action and accountability from The Strategy Compass business model.

Sign Up Here: https://bit.ly/biz-pod

KEY TAKEAWAYS

Step 5 - Capability to scale

Using the ‘scale' system will help you build  

Systems

Cash

Advance/innovate

Leadership and culture

Effectiveness

Systems

To scale you need to leverage people and systems, spending time on systemisation will help to optimise the process.      Always be improving your systems for efficiency and quality and ensure that you have access to a specialist if this is not your area of expertise.

Cash

Growth is cash hungry. Cash flow is particularly important when you are scaling a business.  Plan ahead and you will be able to see potential challenges and take action. Problems in business rarely arise from nowhere, you need to be planning 3, 6, 2 months ahead.

Advance

You've always got to be advancing or innovating. In business, everything is always changing

Impacting on your business and the relevance of your service or product.

To remain relevant and demand you need to be continually solving a problem or helping your customers to achieve a goal or aspiration.

Leadership and culture

Your culture is a combination of the  values,  beliefs, standards and behaviours

Customer service and the quality of the product are indicative of the culture of an organisation.

Culture is set from the top of a business through the actions and behaviours of senior leaders do they inspire, engage and empower?

Effectiveness

How you can improve personally should be a constant priority.

Blocking time and working on the things that really make a difference is key in the journey to improvement and growth.

Looking at an overview of your business and planning strategically enables you to map out the key things that will shift and move the business forward.

Step 6 - Action and accountability

Action

If you take action on the things that are going to make a difference everyday it will have a compounding effect. Focus each day on taking the actions that will move you further forward

What one move would have maximum leverage, maximum impact, maximum value?

Accountability

Find a mentor or someone who is going to hold you to account and agree on a timescale for achieving your goals.

Accountability increases the chance others can count on you to deliver and it also increases the chance for you to count on yourself and that alone brings confidence, courage and commitment.

BEST MOMENTS

‘Too many businesses are managed by only one metric – the amount of money in the bank'

‘Businesses that stay relevant look outside of their own ecosystem for inspiration and cues about trends'

‘Do your employees care about delighting the customer?'

‘Get this right and you can build a profitable business that exceeds your customer's expectations'

VALUABLE RESOURCES

The Business Mastermind Podcast

Time Tactics That work ebook by Gavin Preston

The One Thing book by Gary Keller

The 7 Habits of Highly Effective People book by Stephen Covey

Disrupt Yourself book by Jay Samit

ABOUT THE HOST

Gavin Preston

Gavin is an inspirational Speaker, Business Strategist, Business Growth Mentor, Trainer and

high-performance Coach.  He works with Business Owners and Entrepreneurs and has a strong track record in creating creative strategies to accelerate the growth of their business. He has helped hundreds of SME business owners and leaders improve their performance and that of their business and a comparable number of executives and employees in blue-chip corporates over the last 20 years.

Gavin's energetic, insightful and yet down to earth and practical talks, workshops and coaching is in demand with high growth business between £250,000 and £30 million revenue and with multi-national organisations at all levels from Board to frontline

Managers. He is an expert in Business Growth Strategies, Peak Performance

Mindset, Persuasion & Engagement, Marketing, Productivity, Leadership

Development, Team Development & Motivation, Leading Change, Stakeholder

Management, Personal Effectiveness and Behavioural Change.

CONTACT METHOD

Gavin Preston Website

Gavin Preston LinkedIn

Gavin Preston YouTube

Gavin Preston Facebook

Gavin Preston Twitter

Hosted on Acast. See acast.com/privacy for more information.

In the Strategy Compass, part 2 Gavin explains the importance of clarity and focus for purpose and mindset in any business.

He explains how the Strategy Compass program can be the ultimate guide for your business.

If you are a  business owner who is always busy and struggling to find the time to be strategic listen in because this podcast could provide the answers.

Sign Up Here: https://bit.ly/biz-pod

KEY TAKEAWAYS

• Before we go on any journey we have to know where we are heading.
• Business owners get too involved in dealing with the day and don't set a destination or goals.
• For a goal to be effective it needs to have;

Clarity

Challenge

Commitment

Feedback

Task complexity

• You need to set goals in all areas of your life in order to achieve fulfilment
• The areas for goal setting are health, which is central, family, financial freedom, business and legacy and experiences.
• As a business owner, its key to identify new trends and understand who you are targeting.
• Your product needs to address your customers' needs and aspirations. Your marketing must be talking to your customers effectively.
• The compass strategic lens model enables a business owner to look in detail at both entry and excellence threshold standards across strategic values.
• To stand out in the market place you got to be clear about where you are within operational excellence, customer Intimacy and product leadership. When you understand where you are then you can focus on improvement for the other areas and continued excellence in your chosen focus.

BEST MOMENTS

‘You wouldn't set off on a journey without having a destination a goal to achieve'

‘Thinking is an underrated past time for business owners because they are busy doing'

‘Everybody has got to pull together'

VALUABLE RESOURCES

The Business Mastermind

Podcast

ABOUT THE HOST

Gavin Preston

Gavin is an inspirational Speaker, Business Strategist, Business Growth Mentor, Trainer and

high-performance Coach. He works with Business Owners and Entrepreneurs and has a strong track record in creating creative strategies to accelerate the growth of their business. He has helped hundreds of SME business owners and leaders improve their performance and that of their business and a comparable number of executives and employees in blue-chip corporates over the last 20 years.

Gavin's energetic, insightful and yet down to earth and practical talks, workshops and coaching is in demand with high growth business between £250,000 and £30 million revenue and with multi-national organisations at all levels from Board to frontline

Managers. He is an expert in Business Growth Strategies, Peak Performance Mindset, Persuasion & Engagement, Marketing, Productivity, Leadership Development, Team

Development & Motivation, Leading Change, Stakeholder Management, Personal Effectiveness and Behavioural Change.

CONTACT METHOD

Gavin Preston Website

Gavin Preston LinkedIn

Gavin Preston YouTube

Gavin Preston Facebook

Gavin Preston Twitter

Hosted on Acast. See acast.com/privacy for more information.

‘Not only are they profit centres they are cross-selling opportunities' 

In the second part of this 2-part series, Gavin and Roland continue to explore how to scale and grow businesses. They discuss in detail with pertinent examples of how to identify the areas for change and the strategies and questions to ask to enable transformation. Listen in to hear how you can make effective changes in your business and convert your cost centres into profit centres. 

Sign Up Here: https://bit.ly/biz-pod

KEY TAKEAWAYS 

• The 1kx matrix identifies valuation, revenue and profits as areas that should be carefully reviewed. The process begins by looking at revenue and the sources (see the previous episode) followed by the profits and valuation.  
• Profits 

E2P for profit involves looking at your biggest cost centres and asking – how can I convert these into profit centres? Your stock could be wholesale to someone else and identifying how you can convert your cost centres into profit centres is key. 

• How can people following the E2P strategy avoid it being a distraction? 

You have to have a champion; you have to make it a subsidiary business of the core business with a dedicated general manager who is its champion. 

• Valuation 

People should look at monthly recurring revenue, If you have monthly recurring revenue then the risk of you having to go out and find new customers is much less increasing the valuation. Ask the question – How can we turn static income into monthly recurring revenue (MRR) or (ARR) annual recurring revenue. 

• First principles reasoning, tell me about that? 

‘We need to take all of our assumptions about something and re-examine them from the ground up' It's about going back to the core.   

Inversion thinking is about looking at all the things we don't want to happen so we can be sure we don't get to that place. 

The combination of the first principles thinking and the inversion thinking brings a complete approach to any situation or challenge. 

• ‘Sell the eggs and keep the geese' 

If you can sell profit centres that don't sacrifice your momentum you can have an unlimited amount of exits because you have an exit building machine, you figurately have a goose that is laying golden eggs, so why lose the momentum have multiple companies and continue to move forward successfully. 

BEST MOMENTS 

‘Looking at one time sales and focusing on how to make them into recurring revenue increases the valuation' 

‘If they can do it with those completely non-recurring  type businesses then you can do it for your business' 

‘Not only are they profit centres they are cross-selling opportunities' 

‘Your inventory could be wholesale to someone else' 

VALUABLE RESOURCES 

The Business Mastermind Podcast 
https://www.rolandfrasier.com/ 
Roland Frasier LinkedIn 
Business Lunch Podcast   
War Room Mastermind 
Digital Marketer 
Traffic and Conversion 
Summit 

ABOUT THE HOST 

Gavin Preston 

Gavin is an inspirational Speaker, Business Strategist, Business Growth Mentor, Trainer and high-performance Coach. He works with Business Owners and Entrepreneurs and has a strong track record in creating creative strategies to accelerate the growth of their business. He has helped hundreds of SME business owners and leaders improve their performance and that of their business and a comparable number of executives and employees in blue-chip corporates over the last 20 years. 

Gavin's energetic, insightful and yet down to earth and practical talks, workshops and coaching is in demand with high growth business between £250,000 and £30 million revenue and with multi-national organisations at all levels from Board to frontline 

Managers. He is an expert in Business Growth Strategies, Peak Performance Mindset, Persuasion & Engagement, Marketing, Productivity, Leadership Development, Team 

Development & Motivation, Leading Change, Stakeholder Management, Personal Effectiveness and Behavioural Change. 

CONTACT METHOD 

Gavin Preston Website 
Gavin Preston LinkedIn 
Gavin Preston YouTube 
Gavin Preston Facebook 
Gavin Preston Twitter 

Hosted on Acast. See acast.com/privacy for more information.

‘I realised that if we were helping companies to grow they had to be able to scale successfully in order to cope with the increased business' 

In part 1, of this 2 part series Gavin is in conversation with Roland Frasier who has extensive expertise and is a serial entrepreneur who has founded, scaled and sold multiple businesses. 

They discuss the importance of leveraging in order to scale and grow a business successfully, listen in to hear how you could do it for your own business. 

Sign Up Here: https://bit.ly/biz-pod

KEY TAKEAWAYS 

• How did you get into the online world of marketing and influencers and helping to scale businesses? 

I had identified opportunities online and used my contacts to create content and then reached out to a group who had expertise in online marketing. 

It's always a long game If you're in the short game you just can't win. You can't develop a relationship in a few minutes, an hour or a month it's about planting the seeds and nurturing the relationship. 

There's nothing wrong with seeing an opportunity and being strategic about ‘ I want to get to know these people' 

Helping other people and not expecting anything in return will ultimately bring you the most success and reward in business. 

• What is the LEGS program that you have recently been running in California? 

It's Leverage, Exit, Gross, Scale, an intensive program on how you can grow and scale a business and understanding the difference between the two. 

Growth is about additional business, additional customers and scale is the infrastructure to be able to handle the additional business. These elements must exist together in balance along with accurate timing to ensure success. 

The whole goal is to find leverage points to allow you to scale and grow faster and then exit. 

Having the exit plan in place in advance of the scale and grow, enables the growth and scale to be mindful of the exit. 

• What is the 1kx matrix? 

In the areas of valuation, revenue and profits there are several things you can do and in each of those 3 areas, it is possible to 10x resulting in 1kx overall. 

Revenue 

This is the place to begin and you should seek the centre of influence. Who already has a big swath of your customers who you don't already have a relationship with? Identifying and growing a relationship with this business will be key to developing and growing your own business. 

BEST MOMENTS 

‘I try not to work any harder than I have to, so I'm a great fan of leverage' 

‘I don't want to be in the middle of any deal, I want to add value to you and that's it' 

‘I didn't want to miss anything because it was so great' 

‘Have worked with many companies and learnt lots along the way from some amazing mentors' 

VALUABLE RESOURCES 

The Business Mastermind Podcast 
https://www.rolandfrasier.com/ 
Roland Frasier LinkedIn 
Business Lunch Podcast   
War Room Mastermind 
Digital Marketer 
Traffic and Conversion Summit 

ABOUT THE HOST 

Gavin Preston 

Gavin is an inspirational Speaker, Business Strategist, Business Growth Mentor, Trainer and high-performance Coach.  He works with Business Owners and Entrepreneurs and has a strong track record in creating creative strategies to accelerate the growth of their business. He has helped hundreds of SME business owners and leaders improve their performance and that of their business and a comparable number of executives and employees in blue-chip corporates over the last 20 years. 

Gavin's energetic, insightful and yet down to earth and practical talks, workshops and coaching is in demand with high growth business between £250,000 and £30 million revenue and with multi-national organisations at all levels from Board to Frontline Managers. He is an expert in Business Growth Strategies, Peak Performance Mindset, Persuasion & Engagement, Marketing, Productivity, Leadership Development, Team Development & Motivation, Leading Change, Stakeholder Management, Personal Effectiveness and Behavioural Change. 

CONTACT METHOD 

Gavin Preston Website 
Gavin Preston LinkedIn 
Gavin Preston YouTube 
Gavin Preston Facebook 
Gavin Preston Twitter 

Hosted on Acast. See acast.com/privacy for more information.

‘As business owners, we set up our businesses for a reason we saw a product or service in the market place and believe we can do better. We are passionate and want to be successful' 

Gavin provides an insight into ‘The Compass Lite program'  based on the ‘Strategy Compass' which he has created from his extensive experience and expertise, working with thousands of different business leaders in large organisations and high growth entrepreneurial organisations. 

If you want a comprehensive guide for growth and success in the current marketplace then you must listen to this podcast, it can change everything for your business. 

Sign Up Here: https://bit.ly/biz-pod

KEY TAKEAWAYS 

• Some of the strategies that have worked in the past no longer have the same traction in the market place leading to frustration for business owners. 
• This can be confusing and often the response is to carry on doing more of the same, but this is not always effective. 
• The compass program provides a route map, ‘a guiding compass' that will help your company back into growth. 
• At the heart of the program is the importance of purpose and mindset. Have you got the right; 

Strategy 
Mindset 
People 
Resources 
Capability and capacity 

‘The Strategy Compass Lite' will take you through stages. 

• The challenge is that employees are not engaged, and customers are less receptive to advertising. 
• We need to switch people on;  to find a way to the market place that switches them on and creates a pull and attraction that compels them to take action. 
• We need to stop thinking about selling and start thinking about serving. What difference does our product or service make in the marketplace? what difference does it make to our customers? 
• We must come up with a compelling ‘why'. 
• Your business needs to stand for something, a bigger purpose that will engage both customers and employees. 

• The Strategy Compass model provides a series of in-depth questions that will determine your companies bigger ‘why' and how you can use that to develop engagement and performance with your employees and create a community of loyal clients. 
• By pursuing the purpose and getting it right companies are successful and the profits follow. 
• If we want to accelerate growth in our business we must change the way we think. 
• There are constant challenges as a business leader and at times this leads to frustration but if we are going to create a shift in the business we must make a shift in our thinking. 
• As the business owner, you can be both the greatest asset to the business and the greatest liability. Is your current way of thinking, helping you? 

• A new mindset can deliver growth and success leading to new results. 
• It's important to focus on what we want. There will be challenges and it's the way in which we respond that makes the difference. 
• As humans we are great makers of meaning; we interpret, deciding whether it's good or bad news, it's that determination internally that impacts on the way we feel and the actions we then take. 

BEST MOMENTS 

‘How are we going to get there? Is the basis for your strategy' 

‘Central to all aspects is the right mindset' 

‘If we are going to create a shift in the business we must make a shift in our thinking' 

‘Now it's about the pull, we need to create a community and bring people in' 

‘The money is a way of keeping count of how successful they've been in achieving the fulfilment of their purpose' 

VALUABLE RESOURCES 

The Business Mastermind Podcast 
Start With Why book by Simon Sinek 

ABOUT THE HOST 
Gavin Preston 

Gavin is an inspirational Speaker, Business Strategist, Business Growth Mentor, Trainer and high-performance Coach.  He works with Business Owners and Entrepreneurs and has a strong track record in creating creative strategies to accelerate the growth of their business. He has helped hundreds of SME business owners and leaders improve their performance and that of their business and a comparable number of executives and employees in blue-chip corporates over the last 20 years. 

Gavin's energetic, insightful and yet down to earth and practical talks, workshops and coaching is in demand with high growth business between £250,000 and £30 million revenue and with multi-national organisations at all levels from Board to frontline 

Managers. He is an expert in Business Growth Strategies, Peak Performance Mindset, Persuasion & Engagement, Marketing, Productivity, Leadership Development, Team Development & Motivation, Leading Change, Stakeholder Management, Personal Effectiveness and Behavioural Change. 

CONTACT METHOD 

Gavin Preston Website 
Gavin Preston LinkedIn 
Gavin Preston YouTube 
Gavin Preston Facebook 
Gavin Preston Twitter  

Hosted on Acast. See acast.com/privacy for more information.