Too Young To Retire
I had a chance meeting with a gentleman on the weekend who told me that he was “Semi-Retired”. As the conversation progressed, it became evident that he had been made redundant, from a middle management position, as his company consolidated different departments in a cost cutting exercise.
He not only took a healthy payout from the company, but also a wealth of experience and knowledge. He has been doing a little bit of consulting work, but for the most part, he has found himself wondering what next?
He is part of a growing number of over 55’s that are not ready to stop working, either mentally or financially, but is finding it hard to find employment because of the abundance of people in the same position.
We spoke about the possibility of him going into business for himself, this was something that he had already pondered over, but had come to the decision that he could not gamble what he already had on a new business. I asked him if he had considered looking at a franchise, a business that already had systems, support and a proven record of profitability for its franchisees.
He had heard different stories about franchises and was weary about their ability to deliver on their promises. I offered this advice on looking at franchises;
• Do your homework – There are a lot of franchise opportunities around, research them. There are a number of magazines and web sites that not only advertise franchises, but offer tips on what to look for. A good place to start would be the Australian Franchise Opportunities Exchange web site.
• Stick to what you know – It doesn’t matter if it has been a hobby or a career. Your expertise will position you as a go to person in the industry.
• Do your Due Diligence Without Emotion – Do not get wrapped up in the hype, some franchisors leave you feeling that you have just been to a time share meeting. Check these critical factors;
o What share of revenue does the franchisor make from selling franchises compared to franchisees selling their product? If they are making the bulk of the profits through franchises and not product, they may be more focussed on your dollars than your customers, beware!
o What are the ongoing fees and when do you need to pay them? If you have ongoing fees regardless of your success, or lack of, the franchisor is most likely building an empire out of franchisees, not building a brand out of the products success.
o Why is the Franchisor franchising the business? – What is their vision? Does it align with yours? Do you share similar values?
I will explore franchising in more depth over the coming months. If you need any information before then, please feel free to contact me, or any of the other Small Fish Business Coaches.
Dean Atkins
Small Fish Business Coaching
www.smallfish.com.au
Suzanne Bolte 31-Aug-2010 09:26 AM
Dean, I truely back up your advice, because I have been stung with a franchise in the past. I strongly recommend everyone to do their homework and due diligence. Make use of your Accountant and Solicitor, because you have to know how you can get out, if necessary. The small price you pay in the beginning is nothing compared to the larger price you may have to accept in the end.
Jon Dale 14-Sep-2010 05:43 PM
Thanks Suzanne. I'm sorry you got burnt. It's clear that not all franchisors are decent and honest business people. There's definitely a flavour of "selling" franchises out there.
Work - Life Balance Discussion
The more alert among you will have noticed our lively and spirited discussion on work-life balance from a week or two ago. If you didn’t, let me point out that you can add a comment to our blog posts when you click through to our website. We encourage you to participate – it’s fun and intriguing to hear what other people think of our articles and our opinions. And you might like it, too.
Here’s my two pennies’ worth (on work-life balance):
The best way to not work too hard is not to work too hard. I mean, when the clock gets to 5.30, stop working and go home. It will be there tomorrow. Trust me, it’s true. The work multiplies to fill the time you give it and then some, so you’ll never ever get it all done. Prioritise not working, too.
Remember, you won’t lie in your deathbed reflecting on your life and think “I wish I’d spent more time at the office”. I guarantee it.
Jon Dale
Small Fish Business Coaching
www.smallfish.com.au
Anthony Idle 07-Sep-2010 05:53 PM
I agree with you John but maybe not for the reason you think.
To me they way we live is all work. I'm working on being a better father and husband.
So by deciding to work on that at 5.30 pm and tackling some of my home based "projects" it's still work but my balance is optimal.
I try to give my family the same if not more priority than business.
It's a choose your attitude thing - Aaaurrghh I got it!
Cheers
Ant
Small Business Start-Up Australia 08-Sep-2010 02:59 PM
I read a great deal of blogs, and I have not come across an article that articulates these points so well.
http://www.homebasedbusinessaustralia.org/
August 30th Induction Training
We hold our third Australian Induction training Program this entire week, in Byron Bay. We’ll be training our new business coaches in the use of our systems to help them provide better and more consistent coaching services than they would if they relied only on their brains and commercial experience (which are considerable). We’ll also be familiarising them with our sales, marketing and administration systems to help them leverage Small Fish to build their businesses more rapidly and to greater heights than they would alone.
We’re delighted to welcome a couple of guests, attending the training to help them finalise their decision about joining Small Fish – Tony Ozanne from Canberra and Carl Dierschow from Colorado, USA. Welcome to Byron Bay, gentlemen. We hope you enjoy our hospitality and our training as we hope to enjoy your company while you’re here.
Jon Dale
Small Fish Business Coaching
www.smallfish.com.au
Richard Everson 31-Aug-2010 08:54 PM
Jon,
On behalf of my fellow 'coaches in training' may I say that we are indeed, enjoyinng your hospitality and the training. It's been great to delve deeper (much, much deeper) into the Small Fish systems and to be able to use them 'live' in our group activities.
For those reading this blog, rest assured we are working hard. We were on the oval at 7 AM this morning with our own personal trainer, and left the training room after a full day at 6.15 PM.
Small Fish At the Franchise Expo in Melbourne
We attended the Melbourne Franchising Expo this weekend and a good time was had by all, except Jon who soldiered on through flu (with the help of proper Codral). We met lots of decent people, some potential new coaches with whom we are now in discussion, some potential new coaching clients (for our yet-to-be recruited Melbourne coaches.........) and we even began discussions with some Franchisors who bought into the idea that it would be a good idea for their franchisees to have a business coach. These discussions will take time to bear fruit but we even imagine that some of the franchisors will include some business coaching in their franchise fees.
Jim’s Group (Australia’s largest Franchise operation with more than 3000 franchisees) commented that they’ve noticed that those of their group who have a business coach do better than those who don’t.
Jon managed to give a keynote seminar (3 times) on the necessity for a strategy even if you buy a franchise. The audiences certainly took some value away from them – there was lots of note-taking and nodding going on.
Jon Dale
Small Fish Business Coaching
www.smallfish.com.au
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Fit for Business- The Elite Few
Elite athletes make us marvel at their agility, stamina, mastery of their chosen discipline and focus on a goal.
Could you imagine if you could capture each of those disciplines and apply them in your business? Let’s break them down and play with some ideas on how your business can join the elite few.
Agility – We see it on the sporting field all of the time, those super human feats that seem impossible, executed in the heat of competition. The most inspiring are when the chips are down and someone takes a risk that affects the flow of the game.
In business, true leaders and entrepreneurs are recognising the current economic climate as the time to make a stand and change the fate of their business. Sure, there is an element of risk, but if you are slowly watching your business decline, you need to get back on the front foot and challenge the status quo.
Stamina – Think of the epic battles that we have seen in State of Origin or Grand Finals, where all of the players look to be physically and mentally exhausted. Suddenly, someone breaks out of a pack with a sprint, and no one has the energy to pull them down.
A well-executed game plan will ensure that you put your energy into results orientated activity only. This means that you will have plenty of stamina left in your business to leave your competition behind when they feel there is nothing left to do.
Mastery – When we watch the top seed tennis players or the top order batsmen in cricket, they seem to have more time to get into position, select a shot and place the ball exactly where they want it.
It is often said that practice makes perfect, the truth is that perfect practice makes perfect.
If your business practices are not perfect, you run the risk of introducing bad habits into your game. Focus on a perfect execution of everything you do in your business and over time habits will form that makes it appear that you have all the time in the world to execute the perfect business solutions.
Focus – How many times do we see a team, or an individual that is all over the competition, then suddenly a decision goes against them? They argue with the officials, replay the event in their minds and start to run around without purpose. The loss of focus ends up costing them the game.
Often in business, decisions, legislation, compliance laws, etc., change our projected outcomes. We must quickly accept that, fairly or unfairly, right or wrong, a decision has been made that we will not be able to change. What we can do is review our plan to allow for the changes, then go back and stick to it.
Finally, all elite athletes have room for improvement. They work with their coach to identify their strengths and weaknesses, then seek motivation from their coach to push through the tasks that they do not enjoy.
Your business also has room to improve. If you are avoiding the tasks you do not like, or struggling to identify ways to improve, it may be time you got a coach to help you join the Elite Few.
Dean Atkins
Small Fish Business Coaching
www.smallfish.com.au
Small Business Start-Up Australia 31-Aug-2010 08:59 PM
Unlimited Paid Leave.... Yes Please
I have just heard about a media company in America called Social Strata that offers its employees unlimited paid leave. Here’s the link...
Unlimited Paid Leave
Sounds too good to be true...? Apparently about 1% of companies in America are offering their employees this option, and when you think about it, it does make sense. You just need a few ground rules in place to prevent a mass exodus.
• Great staff. If you have people who enjoy their work, find it fulfilling and like being part of the team - they will come to work by choice (most days!)
• Staff must take at least two weeks leave per year. Leave is tallied and if a staff member leaves they are paid out any accrued leave.
• Staff are still subject to performance appraisals, so if they are not getting the job done, their leave may be extended... indefinitely!
How it works.
• Careful recruiting and effective performance appraisals
• Trust
• Goals
The idea works because it is just part of a wider workplace culture based on trust and a focus on outcomes and performance rather than the more common measure of productivity, hours worked - a measure we all know can vary widely from person to person and day to day.
With this context, the idea begins to make far more sense. As long as an employee knows what is required to get the job done, they are free to manage their time as it suits them – allowing them to balance family, friends and outside interests and achieve that famous ‘work/life balance’. With added freedom comes added commitment.
The concept sprung from ideas outlined in Jim Collin’s book ‘Good to Great’. You can find out more from Social Strata’s company blog.
Richard Everson
Small Fish Business Coaching
www.smallfish.com.au
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Inspired by Inspirational People
What has really amazed me about working with Small Business owners is that they achieve so much on their own in such little available time. I am constantly reminded how lucky Small Business owners are when they are successful and loving what they do. As a Business Coach, selfishly, I have had great satisfaction in working with people that care and demonstrate inspirational stories about themselves. Working as single parents, juggling families, managing friends and family, maintaining a sense of well-being and connectedness, all the while working ridiculous hours to ensure their business is a success.
I have spent the last few weeks working closely with Pink Printing Supplies and each time I leave a meeting I feel enthused and energised. The Director, Debra, is the walking embodiment of her business and her life. Amazingly, when I looked up the meaning of embodiment to ensure I had the right word, the example sentence was ‘she seemed to be a living embodiment of vitality’. How well connected to my thought process is that??? Brilliant.
Debra has an alter ego called Miss Pink, which she utilises as her persona to promote her business (You can see some lovely pictures on her website). What I love about Miss Pink as a character is that she clearly articulates a brand awareness that is easy to remember and identify. The best thing though is that the personality behind Miss Pink is no character. The personality is synonymous with the whole business and I can’t stress enough how important that is for Pink Printing Supplies. Return clientele and referral business make up a majority of customers. They are not just buying a product; they are buying from a business personality, a brand, but a brand that is the true essence of that business.
Debra’s passion for her business and her desire to make changes to build a stronger long-term vision is outstanding. I was immediately captured by her openness and willingness to communicate. She certainly made my job as a coach extremely easy. But the takeaway for me has been the inspiration I have taken from her story. She milks every minute of every day for what it is worth and does it with steadfast positivity! I leave our sessions feeling excited, alive and wanting more, much more.
Imagine if your customers felt the same way about you when they interacted with your business. Feeling energised, inspired and wanting more. That’s business nirvana isn’t it?
Simon Thomas
Small Fish Business Coaching
www.smallfish.com.au
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Competing May Not Be As Hard As it Looks
Story time......
My little girl, when she was at school, was worried about how to get good grades and compete with her peers. It was all getting a bit over whelming.
She mistakenly believed everyone worked as diligently and hard as her. She was also more than a little peeved at the geniuses who seemed to naturally, without effort, gravitate to the top seemed to be super competitive just through luck.
Like all dads you just want to fix it, so I had a go.
I conducted a business analysis on her competition.
I asked “How many kids is there for whom maths (the topic in question) was just not their thing? Maybe they were good at other stuff, other subjects, music, netball, soccer, boys, frocking up and even talented partiers?”
“Around 10” she answered.
I asked are any of these kids were really putting in the time and effort, taking sufficient and the right actions to become good at stuff that is not their natural thing. She said “No.”
OK they are just not in the maths game. Let's count them out.
I asked “so who is just lazy?’ She named the individuals. I said “do you reckon you have the metal on this lot given the work you are putting in verses their inaction?” She thought for a moment and said “probably."
OK they are not in the game. Let's count them out.
How many kids are disruptive to the class, come late, wag, don’t hand in assignments on time or at all, spend a lot of time just being annoying to the school system. She thinks and comes up with another half dozen. I asked “are they playing the game of maths hard enough to beat you.”
“No chance” she says.
Out of a class of 30 or so we were left with less than 10 students. In this group were a couple of naturals at maths and she was more than happy if they did better than her. Indeed if she kept up with them she regarded this as a real victory.
Of the eight who were left who tried as hard as you. “Maybe half” she says.
I pointed out we are down to running neck and neck with just 4 persons. The odds of being in the top 20% of the class (her goal) were very good as long as she kept up sufficient action.
Reassured she went back to tedious world (my interpretation) of maths homework secure in the knowledge that she was set up, taking sufficient action and working well towards what she wanted.
Story time finished now go back to work.
Seamus O'Brien
Small Fish Business Coaching
www.smallfish.com.au
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When Marketing Campaigns Go Bad!
I promise it will make you laugh!
These are just a few of the most famous marketing blunders. It’s interesting to see that even the worlds largest companies don’t always get it right!
1. “Nothing sucks like an Electrolux” was used by the Scandinavian vacuum manufacture to promote their product in the U.S.A. Perhaps an understanding of American slang may have saved this one?
2. Coors marketing campaign used the slogan “Turn it Loose”, when translated into Spanish it unfortunately was read as “Suffer from Diarrhoea” A valuable lesson in translating slogans before they hit the market!
3. Pepsi had a great marketing campaign based around the slogan “Come alive with the Pepsi Generation”. Sounds fun doesn’t it? That is unless you are in China where the translation read as “Pepsi brings your ancestors back from the grave." Not so fun….
4. Gerber baby food launched their product into the African market using the same packaging as the U.S.A. In theory there was nothing wrong with the cute Caucasian baby used on the packaging until Gerber figured out that companies usually put images of what is inside the jar on the packaging, as many people can’t read. Was it any wonder their “bottled baby” was not a huge hit?
You also will not find Gerber on the shelves of French supermarkets as the name Gerber translates to vomiting in French. Bon appétit!
5. And finally one from personal experience, whilst standing in a well known fast food chain overseas I noticed a sign advertising Chicken Nuggets that read “now made with 100% real chicken." Well what the heck were they made from before?
Don’t be scared now! For every marketing campaign gone badly there are thousands that succeed. Have a chat to your Business Coach to get some great ideas on ways to market your business. Don’t have a business coach? Then get now is the time to get one!
Melanie Miller
Small Fish Business Coaching
www.smallfish.com.au
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Work:Life Balance
At Small Fish, we really believe in the idea of finding a harmonious Work:Life balance. Together with driving profitability, improving the Work:Life balance would be one of the most common objectives for business owners that we come across. So, what is this thing we call Work:Life balance?
“Balance” itself is an interesting word to use when describing this concept. It almost makes it sound like Work and Life are two separate things that we are trying to balance against one another on some kind of giant see-saw. But is this true?
What got me onto this was a conversation between two of my friends recently. They were discussing the topic of working during the weekends. (Yes guys, you know who you are – and I will soon know if you actually read my blog posts!!).
One of my friends had been busy working all week, and right through the weekend. The other held firm to the opinion that you need to keep your weekends free from work – and do as much of the things you really want to do on the weekend as possible. He said: “work out how many more years you think you have to live, multiply that by 52, and you will realise that actually you don’t have too many weekends left”. A sobering thought!
(Now obviously, my friends are Monday-to-Friday type of people. I realise not everyone is in that lifestyle, but the principle here applies to everyone nonetheless - so ‘non-Monday-to-Friday’ people, please read on....)
I am all for the idea of getting the work:life balance right, but there was something about this last comment that didn’t quite sit well with me (beyond the sudden brutality of pondering life’s impermanence). It took a while, but then it dawned on me.
What if you really enjoyed what you did for work? What if your work was so enjoyable, that IS all you really wanted to do?
Could this ever be the case ? Surely everyone knows that “work is so bad that’s why they have to pay people to do it!” Is it possible that work could ever be such great a thing, that you shouldn’t need to “ring fence” your weekends from it? You know – it is like those people that say “well for me it really isn’t work.
Well, despite the fact that I love what I do for work, this idea also didn’t quite sit right with me. Why? Because work is not THE only thing in my life. In fact, my life also involves other people and other responsibilities.
So, thinking it through, both of my friends had valid points. You can probably afford to sacrifice a weekend or two to work– just probably not ALL the time. Ahh, this is where the balance part comes into it.
I came to the conclusion that work is actually an element, or a subset of our lives, and that Work:Life balance is about trying to create balance between all these different elements of our lives. Also, it is a balance of the different responsibilities and expectations of the many different “roles” we play in life (think worker, parent, volunteer, etc..). Without getting too spiritual, we are trying to create harmony in our lives, of which work is, and can only ever be, just one element.
So that’s what it is all about, balance and harmony. And remember – “have some fun” while you are doing it.
If you have read this far, please feel free to respond with some comments about this post – I would be interested to get some more viewpoints on this topic. Thank you.
Kristian Reiss
Small Fish Business Coaching
www.smallfish.com.au
Julie Kerim 11-Aug-2010 05:52 PM
I have worked long hours and travelled for work consistently during my career. Last year I was retrenched, and spent a long time looking for work and found that I did not have a hobby or interest. The time that would have been allocated for this was spent, looking after family and doing household chores and being busy doing the basic fundamentals for survival. What I have learnt during this period is that it is important to find a balance. I am now self employed as a business coach, and happy, no really happy. It is never too late to find a work life balance.
Julius 11-Aug-2010 06:39 PM
I think only a very small % of the population ever follow their true passions and end up in a job that is truly satisfying. I think most people 'work' just because they have cost of living pressures that need to be addressed which is why they dream about 5pm Friday from the moment they start on Monday. I think that most people think they are passengers in some pre-ordained destiny - as opposed to understanding that life is whatever you want to make it. You have control. Unfortunately we live in a welfare state that makes it too easy for people not to bother thinking or trying for themselves.
Simon Thomas 11-Aug-2010 09:37 PM
Agree wholeheartedly Kristian. And Julius, you have hit the nail on the head. I was one of those people. It has taken me a while to realise that I am in charge and only I can make a difference to my life. The balance has well truly swung to my favour. Work is awesome and life couldn't be better. All because I made the choice to address the imbalance. Passion is lost in so many of us because of a lack of balance. I can only urge everyone to search for the right balance of all of life's facets and regain passion.
Melanie Miller 12-Aug-2010 10:50 AM
I completely agree with your comments Kristian. As a single female I have spent the last 10 years working 60 hour weeks to build a successful career. I picked up the slack of other employees when weekends or trips oversea's were needed as I was the only "single one without a family". One day it dawned on me, if I did not change my situation I would remain single and without a family forever. My work had taken over every aspect of my life. Now I see that balance is essential for me. That's not to say that I am now searching to settle down, just that life needs to be more 'balanced' for me. I need to know that I can balance relationships including those with family and friends with work commitments. I have also found the joy in "me time", which previous I considered an indulgence. Now its part of my week. I will still work Saturdays (at a push) but Sunday are off limits. It's really quite liberating to take control back!
Anonymous 12-Aug-2010 04:20 PM
Read your signs, work when you want to and do something else if you don’t.
Just don't ask for sympathy, fix it before it fixes you.
I run my show and as ring master it is my Circus. I have given up I have anything to prove or a place to get to.
Old age is so wonderful.
Anonymous 12-Aug-2010 04:25 PM
I love these conversations, especially when everyone has so many different points of view.
I have had the same debate a few times before over a cold beer. I wish I had thought of doing a Blog at the time, it's a great way to gain support and claim yourself the victor!
You may have heard it said that "when you do what you love, you never have to 'work' another day in your life"?
It was pointed out to me that, even a kid growing up loving football, who makes it to an elite level as an adult, has higher expectations put on him, the stress of performance and the pressure from the club, sponsors and fans. Inevitably, what seems like a dream 'job' turns into a stressful nightmare.
I bought into that reasoning for a little while. Until, one day I used the same argument and was told, "You might get crunched in a tackle, lose a match or get abused from the sidelines, but your still playing football and getting paid a lot to do it. It beats working for a boss, having customers abuse you and worrying about staff... now it's your round". (Most of these debates seem to happen at the pub).
I now tend to believe, it is best to do something that you love, but, there will always be elements of a job that you won't like. So, you do need to find something else in your life to give you balance. My only advice would be, don't wait for the weekends, take some time each day walk away and switch off. If you disagree, let me know, we can discuss it over a drink!
