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Marketing, Planning for Success

How to become an Industry Disruptor who makes an Impact.

Is your business in need of a shake-up? Maybe you need disruptive innovation.

DID YOU KNOW: In business theory, disruptive innovation is an innovation that creates a new market and value network and eventually disrupts an existing market and value network, displacing established market-leading firms, products, and alliances. (Source: Wikipedia)

But not all innovations are disruptive, even if they are revolutionary.

So how do you become an industry disruptor and why should you even care?

In this blog, we will explore the importance of innovation within your business and how you can start to differentiate yourself from the sea of others exactly like you for more business success and growth in 2021.

What is a disruptor? And what really is innovation in business?

To understand disruptive innovation, it’s helpful to know what a disrupter is. According to Business Leader news, to be a disrupter is to create a product, service, or way of doing things that displaces the existing market leaders and eventually replaces them at the helm of the sector. (Source: Business Leader News)

According to the Small Business Development Corporation, innovation is the “development and application of ideas that improve the way things are done or what can be achieved. … Innovation can help your business grow by improving productivity and efficiency. Your ability to innovate will also help your business to remain competitive and respond to changes.” (Source: Small Business WA)

Why is innovation important in business?

As a business owner, one of your jobs is to understand that you need to continually change. The world changes every day, and since the pandemic, the world is now a different place. Technology changes too and you never want to get to the point in your business where the service you offer is no longer relevant.

Think about the evolution of VHS > DVDs > Blu Ray > now there is streaming like Netflix, and who knows what else is to come.

There are so many other examples I could share with you. What about the old-school photographs? Once upon a time, you needed to take your film canister to a developer and have your photos developed in hard copies. Now they are all saved on your phone.

The humble wall telephone is just another example. Remember those?

What about Myspace. It was one of the first social networking platforms and was the largest until Facebook overtook it in 2008.

They failed to adapt to change and kept the same structure while Facebook and Twitter were updating and adding new features all the time.

In 2015, Myspace still had over 50 million monthly users. However, compare that to Facebook’s 2.38 billion monthly users and Twitter’s 321 million monthly users, and you can see the effect that failing to adapt to change has had on Myspace.

The new kid on the block on the social media front is Clubhouse. And before that, it was Tik Tok.

How do you think Facebook feels now?! I bet the team is innovating.

The Diffusion of Innovation diagram shows the why, how, and at what rate new technology and ideas are adopted to enable businesses to tailor their product and marketing strategy.

First, there are the Technologists (who are the innovators), then the Early Adopters. Then, there’s a tipping point. Social proof will pull in the Pragmatists who are the early majority, then the Conservatives will get on board as the late majority. Finally, the late mass may or may not come on board as the Skeptics.

When it comes to the Diffusion of Innovation – where do you sit on this scale?

Let’s use Clubhouse as an example. The Technologists and Early Adopters are already on board, using the new platform and singing its praises. The Pragmatists will be next.

Where are you when it comes to Clubhouse?

How to make the changes inside your business to disrupt an industry

Success isn’t overnight. It’s when every day you get a little better than the day before. It all adds up.” – Dwayne “The Rock” Johnson

What those examples of disruption highlight are that change is not easy. When you’re riding the wave of success, or even if you are not, it can be hard to see the need to change.

But what if you only had to make small changes?

Small changes can have an incredible impact on your business.

For example, if you increase your sales by 1% each day for a year, by the end of the year you’d be selling 37.8 times more each day. Put another way, you could double your sales in 70 days by improving by 1% each day.

What would your business look like if you doubled your sales?

What would it look like if you increased sales by 37 times?

Or what your business would look like if you could lift production by 1% consistently or reduce costs by 1% continuously.

What we’re looking to achieve is a continuous and sustained improvement; small changes and not magic bullets.

Now let’s consider what happens if you don’t make those changes. Let’s say your competitors sharpen their game, or you fail to keep track of changes in technology, or you manage your team ineffectively because you’re so busy and your sales start to reduce by 1% each day.

That’s the power of 1%.

How to innovate – what the plan looks like

You know doing nothing is simply not an option. Remember, the definition of insanity is doing the same thing over and over and expecting different results. Do something different.

If you are ready to innovate, this is where you start:

  1. Knowing your “why”
  2. Determining your vision and core values for the next 12 months
  3. Creating a budget, KPIs, and knowing your numbers
  4. Understanding your target market, ideal client, and value proposition
  5. Identifying your opportunities, vulnerabilities, and your most critical challenges
  6. Creating 12-month goals
  7. Creating a 90-day action plan
  8. Accountability

Be a disruptor and make the necessary changes for business growth

Business has changed in the last 12 months and many people have had to rethink their business and the way they do things, what they offer, or completely start again.

I know it’s been difficult, I’ve experienced it with you. But being courageous and making the necessary changes now may mean a significantly different future for you and your family.

If you are ready to make the changes required to take your business from stagnant to successful in the next 6 months, join me on my upcoming live webinar: 3 Essential Tools for Business Success.

Inside this 60-minute webinar I’m going to share with you:

1. The power of 1%.

2. Having the courage to change.

3. What the three essential tools for business success are.

4. Examples of the tools needed to help you make the change.

To save your seat, register here

Planning for Success

Have the Courage to Change when Business isn’t Fun any more.

Change is inevitable. Growth is optional.

FAST FACT: It’s a rare person who enjoys change, unless that change is changing to a bigger wine glass!

Changing what you do and how you do can be stressful and time-consuming – and sometimes, it can be easier just to leave everything the same.

I’m sure you’ve been in a position where you’ve heard: But that is the way we’ve always done it. Or maybe it was you saying that?!

And sometimes change isn’t warranted.

But if you are stuck and your business is stagnant – you need to do something about it and that’s going to involve some level of change.

But if you think change is scary and hard – you’re thinking about it all wrong!

Change is exciting and innovative.

And when your business isn’t fun anymore – you are going to need to find the courage and dig deep to take that first step.

MOTTO: Be brave, accept the changes you need to make, and be innovative in your industry.

Making changes – how to do it successfully and strategically

We all have built-in habits and behaviours that we repeat – on autopilot sometimes. But it doesn’t mean that all of them are good habits or even beneficial ones.

We also have so much going on in our lives that it’s hard to start doing something differently – especially when you are comfortable doing what you’re doing. 

But if it’s not working for you, why would you keep doing it? Just out of habit and comfort?

Six months ago my business was stagnant and I could see it was not going to grow with the structure it currently had. I was maxed out to capacity and I had no more time to give.

I had a decision to face: Stay doing the same thing in a business that wasn’t working for me, or change my business structure.

It was daunting, but I knew if I wanted to grow my business and stop doing all the work, I had to make some changes.

But I did it and in six months I went from struggling to doubling the size of my business. Now, I won’t say it was easy. In fact, most changes you make aren’t going to be easy, and that’s why so many people don’t do it.

Scaling up meant getting my ducks in line, reassess everything. I was hit hard with extra work when I didn’t have the resources to help me. Areas of my business that didn’t work were magnified and, at times, I wondered why I had taken on so much.

But I wasn’t alone. The COVID pandemic hit many businesses hard and they had to start from the beginning too.

But by the first six months, I was excited. I had new team members, I opened a new marketing department to help our existing clients, and all the components of my business started to work.

I still have areas to iron out, and it’s about trial and error, but I know I can make changes as I go.

When they make significant changes, so many business owners are worried that they need to have everything perfect, and they spend time perfecting everything before they launch. It’s not about being perfect; it’s about perfecting it on the go as you keep making changes and adjusting your offerings and business to make it work for you and your clients.

I was in the bookkeeping business – but it wasn’t bringing me joy – so I created a new business in marketing. Now we can look after your bookkeeping, taxation, marketing, and business strategy with our services, products, and mentoring packages.

What are you going to change this year?

MINDSET: FORMULA FOR CHANGE

Did you know there is a formula for change designed to help increase your ability to change?

It is (D x V) + F > R

Change only happens when these four areas come together.

  1. You are dissatisfied with your current state.
  2. You can see a clear vision of a better future.
  3. You can see practical first steps towards that better future.
  4. Your vision and first steps outweigh the resistance to the pain or cost of the change.

Think about a time you made a change. What happened? Something didn’t work any more, and you saw a better vision for your business so took the first steps to make it happen. You made it happen because the vision you had was greater than any pain or cost involved.

Be courageous and make the necessary changes for business growth!

Business has changed in the last 12 months and many people have had to rethink their business and the way they do things, what they offer, or completely start again.

I know it’s been difficult; I’ve experienced it with you. Being courageous and making the necessary change now may mean a significantly different future for you and your family.

If you are ready to make the changes required to take your business from stagnant to successful in the next 6 months, join me on my upcoming live webinar: 3 Essential Tools for Business Success.

Inside this 90-minute webinar, I will share with you:

1. The power of 1%.

2. Having the courage to change.

3. What the three essential tools for business success are.

4. Examples of the tools needed to help you make the change.

To save your seat, register here

Marketing, Planning for Success

Marketing your business: Why marketing needs to be part of your business plan

Let me ask you a question. When you think of your business plan, does it include marketing in any way, shape, or form?

Nine times out of 10, most business owners think of the goals they want to achieve and the numbers needed.

But the HOW comes down to your marketing strategy and plans.

“The marketing information you need to include in your business plan has to show that you know your target market and understand how to make sure those customers know where they can find you. You need to define what you’re selling, at what price(s), from where, and how you’re going to spread the word.” (Source:www.entrepreneur.com)

So here are three areas you can focus when marketing your business on to make sure your business plan for 2021 gets you your desired results.

The Golden Circle

“People don’t buy what you do, they buy why you do it.” – Simon Sinek

Most business owners have heard of the Golden Circle; you might know it better as “knowing your why”, the famous phrase coined by entrepreneur Simon Sinek.

Before you get started on your business and marketing plans, remember these 3 key factors:

  1. Why do you do what you do?
  2. How do you do it?
  3. What do you do?

Then replicate this throughout your marketing – Simon says you must live and breathe the Golden Circle from the inside out.

It’s only then will your marketing efforts see the results you desire.

The SCOPE Model

The next part of the business and marketing success plan is customer experience.

Now you might be thinking, how does that fit into my marketing?

But if you don’t have happy customers, who will be your social proof? Who will you get testimonials and case studies from and how will you get referrals and word-of-mouth clients?

This is often the missing link to a winning marketing strategy.

So what do you need to consider?

  1. Standardised: High standard of service for everyone
  2. Contextual: Adapt the experience to suit each client
  3. Optimised: Go above and beyond their expectations
  4. Personalised: Tailor their experience
  5. Empathetic: Walk in their shoes and understand where they are coming from

When you can do this for your customers, replicate the results into your markets, and watch how it changes.

The Marketing Flywheel

Now you’re ready for the marketing flywheel! It’s the easiest and simplest way to always have a stream of customers waiting to work with you.

Just to recap: First you understand and communicate why you do what you do in everything you do. Then you create an amazing customer service experience and reap the rewards of how delighted your customers are by providing you with their comments, feedback, testimonials, and case studies.

Now you use the Marketing Flywheel.

The Marketing Flywheel is the continuous cycle you use to attract, engage, and delight your clients to build sales momentum and a community of happy customers who advocate for your business.

If that sounds what you would like, then here are the three areas you need to consider:

  1. Attract: Provide value before you extract value
  2. Engage: Make it easy to shop and buy
  3. Delight: Customer success is your success

Need some help?

Your business success in 2021 comes down to how you plan out your year and how you will achieve your goals and dreams. If you are not sure where to start or what you need? Book a session with us now to discuss your situation.

Planning for Success

The 4 Experts you need for a Vibrant Business in 2021

Did you know:  62% of small businesses don’t have any staff. Because of that, many decide to simply go solo. 

But you don’t have to do business alone. In fact, you’ll have more success if you don’t!

Even if you don’t have a very big team, it’s important that you have experts around you who can help guide you in the right direction, that is, what will best suit you, your lifestyle, your family – and the future you desire.

The experts you need to have (or upgrade to) are a top-notch accountant, a savvy bookkeeper, a marketing strategist, and a business coach.

These 4 people will serve you best wherever you’re at on your business journey.

From 2021, we can help you in these areas, including:

  1. Tax and Accounting
  2. Bookkeeping
  3. Business Mentoring
  4. Marketing and strategy
  5. Courses, workshops, and webinars

Tax and Accounting

Our new tax and accounting service now has capacity to take on new clients, we are here to help all business owners.

Being compliant in this area of your business can easily be overlooked if you don’t have a specialised accountant on your team – and that’s where we can step in.

We can help you build a system to keep your business running smoothly, stay compliant, ensure accuracy, and organise and maintain your financial records.

We specialise in working with sole traders, partnerships, trusts, and companies that require assistance with taxes and accounting.

Learn more

Bookkeeping

Bookkeeping is a must for a successful business. We let you do what you are good at in your business while we do the “stuff” you don’t like or don’t have time for.

Not only that, we keep you updated with real-time weekly reports so you can stay up-to-date. We can also work with your accountant – this will be even easier if that’s us!

Keeping in check with what’s going on in the background will help you make strategic business decisions to grow and develop a vibrant business you love.

Learn more

Business Mentoring

Business can become overwhelming – and that’s not the emotion you need to grow and scale your business. With our business mentoring packages you will have an instant accountability buddy and a business coach who has been where you are now.

Our job is to help you be clear on the steps required to grow your business in a way that suits you, your lifestyle, and how you want to grow – a point that’s often overlooked.

Our quarterly or monthly coaching programs can provide you with increased accountability and support so you can achieve the results you want from your business.

The outcomes include increased profitability and cash flow, customised reporting templates to measure actual performance against forecasts, and access to an expert sounding board to ensure you continue working toward your goals.

Learn more

Marketing and Strategy

Our latest addition to the Vibrant Business family is our new marketing arm. We have added this because business planning goes hand-in-hand with marketing solutions. We have been offering advice and help in this department for many years and in 2021 will make it an official service.

Together with our new Social Media Manager and the Vibrant Business team, we can help you with your marketing plan, social media plan, and the content that is needed to help your business grow.

As we are looking after your business plan, and understand where you want to go on your business journey, we can now also look after the marketing that goes with it and make sure it is aligned with the goals you set.

Learn more

Courses, workshops, and webinars

To help you on your business journey, we offer business planning webinars and workshops designed to help you understand where you are right now and what you need to do to move forward in the direction you desire.

Meanwhile, our 8-week Planning for Success course covers the 8 key areas, including specific strategies that all business owners need to cover to grow their business for success. These strategies include:

  1. Knowing your “why”
  2. Determining your vision and core values for the next 12 months
  3. Creating a budget, KPIs, and knowing your numbers
  4. Understanding your target market, ideal client, and value proposition
  5. Identifying your opportunities, vulnerabilities, and your most critical challenges
  6. Creating 12-month goals
  7. Creating a 90-day action plan
  8. Accountability

Learn more

Taking the next steps for your business success

Gaining clarity, direction and purpose will help your business grow – and the biggest success driver is having a qualified finance team on hand.

Vibrant Business will help take care of all of your financial needs. From taxes and accounting to bookkeeping, marketing, business coaching and mentoring, we can help you plan and structure your business to achieve your milestones.

Not sure where to start or what you need?

Book a call with us now to discuss your situation.

Planning for Success

Vibrant Business 2020 wins – The Year that was 2020!

What can I say about 2020? It was up, it was down, it was up, it was down!

Some business owners had an incredible year, their very best yet, while others had to make huge and unexpected changes and sacrifices. Some went out of business altogether.

And it was exhausting any way you went.

At Vibrant Business, we saw and felt it all with our clients and in our community too.

But one thing that got us through it was to be grateful for the opportunities we were being given – whether we thought of them as good or bad (or even dire!).

When I look back on the year, we were busy and overwhelmed a lot of the time; and when I was asked to think about the wins I’d had, initially, nothing came to mind except it had been a disastrous year and the team and I were ready for a break!

But then I thought deeper and I’d forgotten all the wonderful things the team and I had achieved. {It’s been a long 12 months!}

I would encourage you to dig deep too and think back to the start of the year and reflect on all the good you achieved.

You might be surprised, just like I was.

So, cheers to the year that was, may we NEVER go through that again, and if we do, know we are prepared with the lessons 2020 gave us.

I’d love to share the Vibrant Business team wins with you as a reminder to always be positive and focus on what you do have.

Vibrant Business – The Year that was 2020!

Business and team wins

  • Eloise joined the team in January starting two days a week and has now moved to five days a week!
  • Theo hit his two-year mark in December and starts in a new permanent role as an administration trainee in the new year.
  • We introduced our tax and accounting division in July.
  • We doubled our turnover.
  • We have advertised for a new marketing team member to start in the new year.
  • We are developing new service offerings for our clients to help them grow a beautiful and vibrant business.
  • We increased our awesome client base.
  • We developed an online course to help our clients plan for success!
  • We ran free Business Continuity webinars and provided resources during the height of COVID.
  • Learned a lot of new legislation in a very short time frame and got this out to our clients as soon as possible to help them survive through the COVID closures, downturns, and so on.

Community and volunteer work

Among all the turmoil and busyness in the business:

  • Brenda finished another year as president of Bayside Women in Business Inc (BWIB) increasing the membership from 30 to 80 during the year and despite COVID, we still held many successful networking events.
  • She took on the role of Publicity Media Officer for Manly-Lota RSL Sub-Branch assisting the branch to be “seen”.
  • She finished the year off by taking on another role as a Steering Committee Member of the “new” Wynnum Commerce to develop and grow the Wynnum Brand.
  • Plus, Brenda had the pleasure of supporting her local State MP, Joan Pease, and volunteered when she could with her election campaign, which saw her successfully re-elected.

I’d love to hear from you

I’d love to hear your wins, however big or small you think they are – they are an achievement.

Heck, just making it to December relatively unscathed is an achievement in 2020. You can share these privately by reply email or join me over in my Facebook group Planning for Success in Business here.