Here’s the 10 biggest entrepreneurial mistakes according to Mike Michalowics Author of profit first
Here we go starting at number 10 the countdown begins.
Most overnight success takes 15 to 20 years to achieve. If you go in expecting to be rich overnight, you may become discouraged early on and give up on your dream prematurely. Know that success takes time. Takes perseverance and takes a little bit of luck. Give your business the time to grow. Only if your company is stagnant for a long time, should you take it as an indication to try something new.
How to transform any business from a cash – eating monster to a money-making machine. In this episode you will hear Mike Michalowics Author of profit first compare four lessons from the healthy diet industry to the four core business diet lessons of Profit First.
We will start with Mike describing The Frankenstein Formula
You just heard a snippet from Andrew Ford.
Andrew was born Sydney Australia, and now lives in Perth WA. He started his first company at age 19 with $500.00 in his pocket. Ford & Doonan Air Conditioning was launched with current business partner Kyle Doonan. Celebrating their 33th Anniversary this year.
It was fantastic to chat with Andrew and learn about his journey on how he and his business partner successfully grew their air-conditioning business embracing continuous change - eventually franchising which allowed them to stay a few steps ahead of the competition. Andrew is a people person, practical, real, happy and goal focused.
How long does it take to create an overnight success? I attended a networking event hosted by Business Chicks here in Australia. Carolyn Creswell from Carman’s was the key note speaker shared her story. For those of you who may not know or have not tasted Carman’s products. She is famous for her Muesli & NUT Bars. During her speech she said, After, 20 years in business they finally won the Telstra Australian Business Woman of the year award. Someone to her congratulations you are an overnight success. Carolyn replied actually, I have been rejected for this award every year for over a decade.” Reality is they were chipping away at this labour of love since Carolyn was 18 yrs old while she was working part-time for Carman’s and attending her first year in University. That’s when the owners told her she was going to lose her part time job so she bought the business for $1000.00. I recall Carolyn on stage explaining the challenges of making deliveries before her morning lectures and balancing the books in the library during lunch breaks. Now 25 years later Carmen’s gourmet range is available in all major supermarkets across Australia as well as being exported to many countries around the world.
Welcome to episode 158 where we share a story from the founder of Trello Joel Spolsky;
Regardless if you are a start-up company or seasoned Entrepreneurs and small business owner we all have up’s and down’s the roller coaster of business. I love my business, I hate my business, I love my employees, I dislike my employees, I have great cashflow, I have no cashflow. This is what I refer to as the peeks and valley of death in the business cycle. Over the past month I have had fantastic feedback that you are loving the stories I am sharing. Please continue to give me feedback on what you would like me to start doing more of continue what we are doing here on the podcast and what we should stop doing. Drop me a facebook message on our Inspiring Greatness Podcast page.
Welcome to episode 158 where we share a story from the founder of Trello Joel Spolsky;
This story caught my attention one my guests on this podcast have recommend Trello several times as their favourite tech tool. Secondly because it’s about doing things different not better.
Is your to-do list too long? Joel Spolsky found a way to solve his to-do list. If that wasn’t reward enough, he sold his solution - Trello - to Atlassian for $425 million.
How do you solve a to-do list? Five years ago, Joel and his team at Fog Creek Software took a tip from the East to solve theirs with the Japanese concept of ‘Kanban’.
‘Kanban’ (which means ‘signboard’ in Japanese) was created by Taiichi Ohno in the 1940s for Toyota. Known as the father of ‘Just-in-time’ and ‘Lean Manufacturing’, Taiichi’s philosophy valued flow over queues. Things like ‘stock’ and ‘to-do lists’ were queues.
Last week I interviewed Nathan Chan from Foundr and he spoke passionately about - leaders need to courageous.
You can listen to Nathan full interview on episode 156
Today’s episode we will dive into what is the difference between being courageous and comfortable. I have a quote on my mirror that says if you are not doing something everyday that scares you then you’re not trying hard enough.
Foundr is a global media and education company that connects millions of people with some of the most successful living entrepreneurs of our generation such as Richard Branson, Arianna Huffington, Mark Cuban, Tim Ferriss and many more.
Foundr breaks down their strategies and experiences into actionable, battle-tested content through magazines, podcasts, videos, blogs, and online courses — so that you too can build and grow a successful business.
Find out more at http://www.foundr.com
Last week I interviewed Jellaine Dee from Luxx Divine on episode 154. In the interview she spoke passionately about as leaders what’s most important is to know yourself. Know what you want, what do you want to create. Stop doing what everyone else expects of you. When you truly know yourself what you are good at you can overcome anything.
Today’s episode we will share a story from Sheryl Sandberg as her message magnified the message from Jellaine on hope, adversity & resilience.
It is in our darkest times that we find our greatest strength. Yesterday, one year on from the worst day of her life, Sheryl Sandberg, billionaire COO of Facebook, shared publicly for the first time how she faced adversity, and how you can to.
Jellaine Dee is the Founder of Luxx Divine and created this platform to showcase the trending, must-have products she’s known to intuitively spot before they become mainstream. Her passion for designing and curating products is what made her first business; Cherry Blooms Cosmetics become a global beauty phenomenon.
Within 12 months of launching Cherry Blooms ‘Brush On Fiber Lashes’, it had become a multi-million dollar international business and she was doing deals, bigger than the lashes she was creating.
Cherry Blooms has since been sold to a private equity investor in 2016 and Jellaine is now pursuing new business dreams in the digital space through Luxx Divine. Which I can’t wait to hear more about.
Such a talented young spit fire. When she puts her mind to something she makes magical things happen. In this interview we give you the inside scoop from direct experience so you can avoid the obvious potholes we stepped into. I’ve coached many of my clients through the process of scaling their businesses for growth and how to avoid common mistakes that I went through it myself.
Last week’s episode was about are we born with entrepreneurial genes or do we learn the traits? What’s the difference between Employees and entrepreneurs.
Have you ever been rejected or fired from a job? I was fired from my very 1st job cleaning a auto-body shop for my Brothers friend Scott. I will quickly share the story with you.
On to Brian Acton story. After 11 years at Yahoo! and out of a job at 38 years old, Brian went job hunting... first to Twitter (rejected) then to Facebook (rejected).
What do you do when you’re 38 years old, competing unsuccessfully against 20-somethings for a job as a systems engineer? If you’re Brian, you go out and play frisbee...
Two years earlier, he had traveled South America playing ultimate frisbee with Jan Koum, who he had met while working at Ernst & Young as a security tester. Now, in the midst of his job rejections, he met up with Jan again for a game of frisbee.
Are you born with entrepreneurial genes or are they learned traits? In my opinion the word Entrepreneur is overused and used incorrectly! The other morning, I was having coffee with a friend and at the table beside us was a guy on the phone talking way to loud. I heard him say… I am in between jobs and the moment, I am entrepreneur just waiting for my next BIG Thing!
First off Gary V once said, “If you have a fulltime job you are not an entrepreneur!” Secondly if you are in between jobs you can use the term Entrepreneur.
Today we will look at what characteristics do entrepreneurs have? We have a free 21 questions quiz to determine if your have entrepreneurial traits. In less than 5 minutes you can find out what your entrepreneurial rating is out of 100%
Lastly, you will hear from Brian Tracey describe the 5 traits of entrepreneurs.
Last week we highlighted how to prioritized in order to achieve your someday goals and achieve extraordinary results by breaking down your priorities into Annual, Quarterly and the 13 week sprint. I have had such a response from that episode for people asking if I could share more details. I am more than happy to share my templates and worksheet so you can plan your company strategy into smart priorities and link in Key Performance indicators and metrics to track your success! Remember Peter Drucker quoted “what gets measured gets managed!” I’m happy to provide a free copy of the templates please Message me on Maxumcorp facebook page or email Shelley@Maxumcorp.com.au.
Success is about doing the right things not about doing everything right.
Today is about asking yourself the right question to get extraordinary results in your life.
What if you just had to focus on one thing and everything would fall into place? Think of a table of dominoes and you only have to knock over the right one and everything succinctly falls one by one by one until they are all down. As you think of your business do you have a very large to-do list every day and as you tick them off the list more are added and it seems overwhelming. How do we get results that make a big difference? It comes down to one question!
Today we will cover insights into who was the richest man whom ever lived, how he got there and give you the checklist to grow and scale your business so it runs more smoothly. The richest man whom ever lived was John D. Rockefeller. If he was alive today he would be worth $387 Billion in 2018 dollars, controlled 90% of US Oil and 1.5% of USA economy.
On last week’s episode we spoke about the importance of your customer and how you can build a great business that is grounded in customer loyalty by creating an intense focus on doing what’s right for your clients and for your people. Today is a short episode announcing the lucky winner for the Small Business Growth Challenge and will provide a bit of information on their company.
If you’re a brand new listener Welcome and please share with your friends or business partners. If you are a faithful listener THANKYOU! Awhile back I interviewed Carissa Reiniger, CEO Silver Lining on episode 131. It was such a fun and authentic interview where we talked about….
Last week we touched on how to ensure the strategic planning gets implemented and your company see results.
Today is about the importance of your customer and how you can build a great business that is grounded in customer loyalty by creating an intense focus on doing what’s right for your clients and for your people. I will explain how just thru one ultimate question you can measure success based on a number. This system is based on the Net Promoter System which was book written by Fred Feichheld and endorsed by Harvard Business Review!
Last week we touched on how why annual planning sessions are important what’s the purpose, and the components or structure of a successful business retreat. This week we will focus on how to ensure the strategic planning gets implemented and your company see results. If you are going to spend the time and money bring all your top line managers or key executives to an annual 1 or 2 full day strategic planning retreat then you must make sure you will be getting the amazing results. I see it happen all the time: A group of managers get together at a resort for two days to hammer out a “strategic plan.” Done and dusted, they all head home. But have they produced a plan with a strategy? Do they have the correct plan and how are they going to execute is critical, otherwise it was just a waste of time and money.
Before we dive into the episode I want to take a minute to thank you for listening and if you enjoy this podcast please share and I would love if you could give us a rating and review while on iTunes hit the subscribe button so you never miss an episode
Welcome to episode 145 Corporate Strategy planning
Today is the part 4 and the final session on our series of Meeting Rhythms. If you are listening to this podcast for the 1st time welcome. You may find it helpful to go back to episode 142 and listen to part one which was the importance of daily huddles, then 143 on weekly meeting who should attend and what does an agenda look like. Last week we covered the Monthly meeting and todays episode is about the importance of booking time with your team for an off-site business planning session or corporate retreat! Regardless if you are a solepeneur a small company or a large company with a formal board of directors, corporate retreats are Vital to the success of your business. As a graduate from the Australian Institute of Company Directors they also promoted that the Board of Directors should have annual board retreats to foster board culture. In this episode, we will cover why annual planning sessions are important what’s the purpose, and the components or structure of a successful retreat.
With 20+ years as an entrepreneur I have attended many retreats I have also facilitated corporate retreats for my staff as well as, retreats for multitude of companies.
That’s why I am passionate to offer corporate retreat programs through my business Maxum Corporation and I want to provide a special offer for my inspiring greatness listeners. Book your corporate retreat using code MAXretreat and receive $500 discount off a one day program and a $750 discount off a two day program. All you need to do to get more information on this offer tap on the corporate retreat link in the description of this episode or email email@example.com
Happy Easter to all my friends listening to around the world. I hope everyone had the time to take a day or few off and enjoyed a chocolate Easter bunny or a few chocolate eggs.
Well I'm back from a very exciting week of travel and training. I am grateful I was asked to co-facilitate a full day of training on Mentorship in Thailand for the Entrepreneurs Organization. What an amazing experience as I had the pleasure of meeting so many outstanding people. The workshop was full of hand on tools and practical exercises how to be a great mentor!
Before we dive into this episode I wanted let you know the Small Business Growth Challenge contest comes to a close on April 6th you only have a few more days so quickly register so you don’t miss out!
That’s right one more chance to win a 1 year $2500.00 growth plan for your business. Full details on this offer for Inspiring Greatness Listeners from Silver Lining Ltd on episode 136. Or access the links on our show notes page. Maxumcorp.com.au/podcast This amazing growth plan will help you gain clarity around your business, understand your ideal client and how to connect with them without spending too much time and money but most importantly, set and hit your financial goals year after year.
Its super easy one quick form for a chance to win a 1-year business growth plan, valued at $2500 US.