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August 2016 - ActionCOACH
Monthly Archives: August 2016

Are you ‘going for the Gold’ in your business?

In this week’s Business Tap I’d like to talk a little bit about the Olympic games where it’s all about the competition. Athletes gather from all across the globe to compete in order to see who is the best in the world; of course, the common goal being to win gold.

There’s three important stages for every athlete who participates and it does apply to the business world. It starts with a dream. In athletic competition it’s pretty easy to identify the goal, which is to win. When you talk about the Olympics, the ultimate dream is to win the gold medal. For every athlete, that’s where it always begins­–you have to decide on what is your dream or your goal.

Stage two is where one has to consider what you are willing to do in order to achieve that goal. Are you willing to make the necessary sacrifices? It will be an uphill battle. It will take stamina and training to succeed. When competing on that high level of competition one doesn’t decide to compete one day and win gold the next. It’s an endurance race which requires preparation and training.

Finally, have you ever heard of any professional athlete competing without a coach? In order to compete, these athletes realize they need a coach. They need that person that’s going to pull the best talent out of them and create an even playing field to allow them to compete at that high level. When you watch the Olympics you see the athlete, but inevitably you see the athlete going to their coach and embracing or talking to their coach. They understand that they can’t just do it on their own.

Here’s a question for all of you this week? Do you have a specific goal in your business? Where are you going? What’s your gold medal? And, are you willing to sacrifice to achieve that goal? Too often we start off with that goal or dream in mind and then life happens, or business and daily transactions happen and we lose sight of the goal, and therefore we lose our motivation to get there. Building a business is an uphill battle and it’s not easy and it’s not going to happen overnight, but if you know where you’re going then you can make the sacrifices needed to get there

Finally, do you have a coach? Do you have someone that’s going to bring the best talents out of not only you, but of the team members in your organization and make you a world class business so that you’ll be the gold medal standard of your industry. Do you have these things? If not, spend some time thinking about it…restructure, reorganize, refocus and win gold in your business and in your industry.

If you need help with this, get a coach. Remember, if your business needs traction then get into action.

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How valuable is your time?

Learn to calculate the real value of your time in this week’s Business Tap #16 by Bob Keplinger.

The single highest producing activity that any business owner can perform is generating sales. Yet we may be shocked to learn how much money we throw away by performing menial tasks.

In this week’s Business Tap #16 video, I share how to calculate your monetary hourly value. We all have the same amount of time but as business owners, sometimes we waste time by “Stepping over dollars to pick up dimes.” We may perform tasks that we simply enjoy or, more times than not, perform menial tasks that we could (and should) delegate. We tell ourselves that it’s quicker just to do it ourselves, or that no one else can do it as well as we can. Here’s the truth. If we invest in training a team member then we are free to work on generating revenue. We need to learn to recognize when we are being drawn away from what should be our highest priority, generating sales.

After watching this video and crunching just a few numbers you will most likely see how much potential revenue you’ve lost. By knowing your numbers you can calculate the real value of your time, and it should help keep you on track to only perform activities that will perpetuate growth in your business.

Here’s the Formula :

For last month, divide your Average Dollar Sale, by the total number of hours worked. The answer is your hourly value.

To calculate your Average Dollar Sale, add up all of your earned transactions during last month to get a Total dollar amount. Divide that Total dollar amount by the total number of transactions.

The founder of ActionCOACH, Brad Sugars, says “Saving yourself a wage can cost you a fortune.”  You may be surprised to find out that by simply eliminating menial tasks from your day, you are able to increase sales. Now that you have a number, you can develop goals and KPI’s (key performance indicators) that you can measure in order to increase your sales.  Delegate or outsource those tasks that are not making you money.

What would you do with more revenue in your business? Give yourself a raise? Take the family on vacation? Hire more team members? Exactly, choices are good to have. Stay aware of where you are spending your time to stay on track.

About Bob Keplinger:

Bob Keplinger is passionate about leadership and how understanding the importance of this responsibility as it impacts both the personal and professional aspects of our everyday life. He understands that we are all working to maintain the appropriate balance between the responsibilities to our internal and external customers along with having a fulfilling lifestyle while away from work.

Together, you and Bob Keplinger will accomplish new heights and achieve greater success in your business; GUARANTEED!

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