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The Brad Miller Show - Growing You, Growing Your Business
The Brad Miller Show - Growing You, Growing Your Business episodes
- 097 – A Robust Training Program
The best in class companies all have one thing in common – a Robust Training Program.
For our discussion today, that may be going too far too fast – how about we start with a Training Program.
Most businesses don’t have a training program – and the ones that don’t – stay small, or go out of business
This podcast is…Growing You, Growing Your Business. You are listening because you want to grow your business.
The only way to Grow your business is to create a team. Staff. Employees. Coworkers. That team of people need clear expectations and know—how to do their work with excellence. That only comes with training.
19 min - 096 – Standardization of Your Business
Standardization is a framework of agreements to which all relevant parties in an industry or organization must adhere to ensure that all processes associated with the creation of a good or performance of a service are performed within set guidelines.
Standardization requires some hard work of invention
This is perfect: a framework of agreements to which all relevant parties, in a Company, adhere to.
A healthy and prosperous company has a Framework of Agreements
Standardization must begin as a personal ethos – a personal agreement with yourself, that you will agree to the standards of your company.
“Quality means doing it right when no one is looking” – Henry Ford
28 min - 095 – The Best Way is Documented
The tragedy of most small business: finally inventing the Best Way – through years and years of trial and error, but then never documenting the Best Way
We say, “if it’s not documented, it’s not a system.”
Documenting your business is getting your business out of your head. And even more important, getting your business out of your employee’s head.
15 min - 094 – Discovering of the Best Way
The Best Way is Your Invention of your Business, or better said, your inventions of your business.
A Business is a collection of inventions integrated into an amazing whole.You have differentiated your business so that it is unique and in a class all by itself.
Invention is what happens when you work ON your business – and not just IN it
Your goal as the inventor of your business – Elegant and Simple Systems
24 min - 093 – Everything is a Process
Process creates Order!
Order is one of the most powerful words for life and business.
Order is what creates and sustains life.
- Look at the impeccable order of the Universe
- Now imagine Impeccable order in your business
Process Creates Order!
Process creates Predictability.The opposite of process is one-off.
Process antonyms:
halt, backwash, failure, decline, stoppage, remain, neglect, inactivity, immobility, inaction, cessation, ignorance, idleness, about-face, decrease, ignoreThese are terrible words – words you don’t want to describe your business.
Process is such a beautiful word for business:
Synonyms…- Progress
- Action
- Activity
- Efficiency
Elements of a Process:
The desired outcome – what will this look like when it is done?- Target time – how long will this take
- Frequency – how often does this need to be done
- Checklists – lots of them
- Steps – break it down, then break it down again
- Order – what must come first, then second
- Ownership – Accountability
17 min - 092 – A Clear Vision of the Business and Life You Desire
You have a clear Vision – of the business and life you desire.
Quote from Heroic Leadership – Chris Lowney:
“The person who knows what he or she wants can pursue it energetically. No one becomes a great teacher, parent, violinist, or corporate executive by accident”
“There is no news in those statements. Yet as obvious as they are, few people make the personal investment to benefit from the”
You have to know what you want!
- You need the blueprints – the finished version of the home you want to build,
- and all the supporting details of how to build it.
- What will it look like and feel like?
Check out Episode 3
Getting Super Practical about Your Business Vision.Vision AND Systems HAVE to go together! You need equal parts of both.
A vision without a task is but a dream. A task without a vision is drudgery. A vision and a task are the hope of the world.
“Write the Vision and make it plain on tablets, so he may run who reads it.” – Habakkuk 2:2
“Without a Vision, the people perish.” – Proverbs 29:18
…they cast off restraint
…they lose heart
The Top Five Benefits of Investing in Your Vision Work
- A vision is creating your preferred future. Decide upon the life you want…and then create a business that makes that life possible.
- A vision creates Clarity –
- You know exactly who you are as a business
- A vision makes your business scalable.
- When you’re able to articulate precisely what it is you do and how you do – you can add people that share your vision.
- The Best Visions require other people for their completion
- A Vision is the FIRST step to creating Extraordinary Systems!
- A Vision creates Hope – without it you perish.
- A vision keeps your spirits up.
- Without a Vision work is just Same Ol, Same Ol
20 min - 091 – 11 Elements of a Franchise Prototype Business11 Elements of a Franchise Prototype Business – And Why it’s worth pursuing
What does that mean, Franchise Prototype Business – and Why should you want it?
It originates with Michael Gerber, “build your own business as if you were going to create a 100 more just like it, even if you only have one.”
What would have to happen in your business if you wanted it to be a Prototype?
Prototype:
1 : an original model on which something is patterned
2: an individual that exhibits the essential features of a later type3: a standard4: a first full-scale model and functional form of a new design (such as an airplane)Why Should you want to pursue the prototype model?
Because you can have a Business And a Life
Most small business owners don’t.They have a small business – but not a life.Their business is all-consuming.Even when they are present – they are not!The Opposite of a Franchise Prototype is
- random and one-off
- It is owner-operator
- You play Whack a mole all day
- The new problem Du Jour – of the day
- The new policy Du Jour
The 11 Key Elements of Your Franchise Operation:
- A Clear Vision of the business and life you desire
- Everything is a process
- Discovery of The Best Way
- The Best Way is documented
- A robust training program
- Ruthless Standardization, that is enforced
- A predictable customer experience
- Continuous innovation of your Product and/or your Service
- Mastery of new customer acquisition – marketing and sales
- Mastery of Creating and Keeping your Clients and Coworkers
- You, the business owner, are consistently working on the business, not in it
16 min - 090 – “Your prices are too high”…and That’s a Good Thing
Your prices are too high…and that’s a good thing.
Let me clarify by saying it a different way…
If your prospects are not saying:
Your prices are too high
orWe got a better price from another companyThen, your prices are not high enough!
Being the lowest price in your market is a bad place to be
Many businesses only know how to compete on price
The best description of too much focus on low price is…
“a race to the bottom.”The Position you want is – Premier Provider with Premier Pricing.
This does not mean price Gouging – that is a bad business practice and lacks integrity.
- Premier pricing is Being the Best at what you do and having the confidence to charge for it
Have you ever went to buy something and you could not believe how low the price was?
- What is your next thought?
- What’s wrong with it? What am I missing?
If you are never hearing that your price is too high – then your prices are too low.
Here’s how to fix that
- To Fix your prices – Fix your mindset. Your pricing is first of all a Limiting Belief
- STOP thinking dollars per hour to set your pricing
- Most new business owners compare their pricing to their previous job and what they made per hour.
- FIX Your Business strategy
In the Shark tank, the question they always ask, “What does it cost to make? What is your price?”- If you don’t have some type of pricing advantage – You really don’t have a business opportunity
- Your strategy can be fixed on two fronts – lower your costs of production or service Operation.
- Many times a higher price is more strategic –
- A higher price creates more value
- Pricing is an Emotional response
- Pricing does not follow some kind of formula
- Fixed Pricing…there’s no such thing.
- The clearance rack is simply someone’s whim
- Don’t be afraid of being told your Price is too high – that is the title of the podcast – and if you are never being told that…raise your prices
- When you do hear, simply smile with confidence and know you have arrived at the Professional Level – Premier Pricing as a Premier Provider
- IF you want to compete on Price…
- It is a strategy
- But only if your operation is Super Tight in every other way
- You know your numbers – labor, shipping, shrinkage
- You have a Buying strategy – you make your money when you buy
- You have Efficiency to the max
15 min - 089 – The Dumbest Mistake a Small Business Owner Can Make
First before I give it to you, what is the purpose of small business?
To serve people with your work, and make a profit.
Those two are intrinsically linked bc you cannot have one without the other.
You cannot make a profit it you are not serving people well
You cannot serve people if you are not making a profit.They are both important, but I think the making a profit one takes precedence.
- If you are making a profit, you have the ability to fix any service issues you may have – and you will have them.
- BUT if you are not making a profit – as in Money – you don’t have the opportunity to work on your business to make it better.
Business is like Monopoly, when you run out of money – it’s game over. All the pieces go back in the box
Here then is the lesson – and the Dumbest mistake…
Business owners don’t make getting paid a high priority
Ignoring Accounts Receivable
Not having an Accounts Receivable system…is the dumbest mistake…
- Not sending out invoices in a timely manner
- Timely, as in before the work is even complete
- Asking for a deposit
- Don’t be the banker
- Choose your customers based on their ability and MINDSET to pay you
- All business is not good business – people that don’t pay you on time should not be your customers
- Not creating ownership of the Accounts Receivable process
How to make Accounts Receivable a priority:
- BE OK to Talk about money.
- Talk about payment terms in advance
- Invoice Timely – when you deliver the goods – Invoice upfront when possible – or ask for a deposit
- Create Recurring Revenue if at all possible – THEN make it automatic
- Get help – if you are not the bookkeeper type – Pay someone to help you
- Assign the Accounts Receivable so that someone OWNS it – SOMEONE MUST OWN THE Accounts Receivable WORK
- Be Kind – but be persistent
17 min - 088 – The Language of Training
Let’s start with the metaphor of a train – as in locomotive.
Training keeps the Train on the Tracks. The train is your business – the tracks are the training and the narrow path to progress and prosperity.
If you veer off the tracks, you get stuck in the mud and make no progress.
The tracks are a Blessing to be celebrated!
The tracks are not a burden – the tracks are freedom!
TRAINING:
When I say Training – I want you to think of That Metaphor. A Train moving fast – productively moving forward on the tracks – that Train is Your Business. Your amazing lifestyle business that is moving forward without you working in the day-to-day activities.Why is the language of training a part of the language of the self-managed business?
Because it is through Training that you are able to get free of the work of the business.
There are some mental roadblocks you have to get over first –
These will DERAIL – Your TrainingHave you ever thought this – or even said them…- Only I can do this work
- If you want something done right, you have to do it yourself
- You just cant hire good people these days
THOSE are Limiting Beliefs – you cannot move forward in business with those beliefs
Here’s the truth: You can create a system – think, Step By Step process for almost anything.
What does an Intentional Training program include?
- A trainer – a Certified Trainer…as in you know she’s good and she knows the standards. The Trainer should also be a Good teacher.
Huge lesson learned: Your Best team member – technician/sales person/ whatever – is Not necessarily a good trainer.You need a Train-the-Trainer program as well – So that you know they not only know how to Do the work – they know how to TEACH the work!- STO = Strategic Training Objectives
Not just a TASK – an STO is a task on Red Bull.It is connected to visionIt is thought aboutIt is trained – Training is Transfer – a transfer of information and techniqueIt has a clear objectiveALSO: A Training Manual – it includes all of your STO’s in a binder of some kind – paper or digital or both- A Training Schedule – Training takes time! Give the training the time it needs.
17 min