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The Pillars to Successful Business Growth Strategy Series. Pillar 3 – Delivery
February 13, 2017Posted by Laura Humphreys
If you’ve been following my 6 Pillars to Business Success Series, you’ll know that the first two pillars require you to have a product that matches a need in the market and is ...
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The Pillars to Successful Business Growth Series. Pillar 2 – Your Business Model.
December 19, 2016Posted by Laura Humphreys
So you have a great product or service. You know there’s a need for it out there, you’ve defined your customers and your market (if not refer to Article 1 in the Pillars ...
The Pillars to Successful Business Growth Strategy Series. Pillar 1 – Your Product
November 28, 2016Posted by Laura Humphreys
A successful business is made up of 6 pillars to success, with each needing equal amounts of attention, talent, passion and skill for a business to succeed. Most business owners put their energy into ...
8 keys to a bigger, better business. Key number 2 …
May 10, 2016Posted by Laura Humphreys
Here it is … key 2 of my 8 keys to a bigger, better business. These keys are aimed at ambitious business owners, those looking to create something of significant value both in terms of ...
3 steps to turning your business into a valuable asset
May 4, 2015Posted by Laura Humphreys
The Liber8 team held a powerful workshop a few weeks ago. Twelve people in a room had the courage to look at their mindset around money, wealth and business. On their feedback sheet after ...
Do you have what it takes to grow? The 2 qualities every serious entrepreneur needs
June 4, 2014Posted by Laura Humphreys
There are only two things I look for when it comes to choosing a business owner I want to work with, or who I invite to join my mentoring programmes. If I see these two things ...
6 reasons why business is like golf
March 27, 2014Posted by Laura Humphreys
Talking to a client today about how tiring her month had been with a roller coaster of ups and downs and good and bad, I found myself talking to her about my golf recently and how I was enjoying the ups and downs ...
What’s the best weapon for world domination in business? A brilliantly simple tip…
March 10, 2014Posted by Laura Humphreys
How did we take a small Wellington based radio sales consultancy business and turn it into a global success story servicing 400 worldwide markets and selling to 320,000 people? ...
My 5 biggest business blunders and what you can learn from them
July 23, 2013Posted by Laura Humphreys
I’ve noticed when I’m working with clients that my greatest wisdom and biggest ‘aha’ moments come when I’m sharing a story about something really dumb that I did. I think it was Winston Churchill who said ‘life is too short ...
Business mentor tip # 87 – Why company culture is critical to the success of your business
May 29, 2013Posted by Laura Humphreys
I’m working with a number of small businesses at the moment. All are committed to growth and as such are bringing on new staff members to ensure this growth can happen. All have accepted that as owners they must let go of certain ...
If life is a game of soccer, which half are you in and how well are you playing?
May 7, 2013Posted by Laura Humphreys
Here is another extract from Liber8 Your Business, the soon to be released must have hand book for every small business owner. In this chapter I talk about the importance of being a visionary, starting with a concept called ‘The soccer game of life”…
A business or a life-long job? Which is it for you?
April 17, 2013Posted by Laura Humphreys
Here’s another extract from my book… to be launched late July…
A business or a life-long job?
‘Successful and unsuccessful people do not vary greatly in their abilities. They vary in their desires to reach their potential.’
– John Maxwell
One of the first questions I ask when I present ...
Business tip #85 – For the best sales person for your business, look in the mirror
December 13, 2012Posted by Laura Humphreys
Here’s a question many business owners grapple with as they contemplate their growth goals… “Should I hire a business development/sales person?”
My answer is usually ‘no’. And here’s why…
Typically you know your business better than anyone else. You are more passionate about your product or service than ...
Business mentor tip #83 – Subscribe to the concept of leverage
October 28, 2012Posted by Laura Humphreys
At the end of each year you should be working less in your business than you were at the end of the year before. This objective is something that’s missing in typical business plans and yet your goal towards freedom should always focus ...
Business Mentor Tip #81 – Rate your scalability
October 1, 2012Posted by Laura Humphreys
I had a very enjoyable interview with John Holt (co-founder of HR Software provider Sonar6 which was sold to NASDAQ listed company Cornerstone On Demand) for my regular NZ Business Magazine column. He said many wise things.
One was about a key factor a ...
The best testimonial ever!
September 30, 2012Posted by Laura Humphreys
One of my last online members raced through the programme in record time and sent me an email to tell me how he’d found it. If you haven’t done it and ever wondered what its about… read on. Brynn says it much ...
Business Mentor tip # 80 – The incredible power of partner marketing… and how to sell glasses to people who don’t need them!
September 17, 2012Posted by Laura Humphreys
No problem with the marketing vision for the folk at Specsavers. Not only do they have a very funny ad campaign – the ‘Should’ve gone to Specsavers’ series (my favourite is the father on the finishing line of school kids running race where he ...
Business Mentor Tip #78 – Watch for changing paradigms
September 11, 2012Posted by Laura Humphreys
Although I teach business owners to set an end goal for their business and plot milestones back today, I always add the rule that you must stop and review your plan every year. Yes do the macro work and aim for the big picture. ...
Business Mentoring Tip #76 – Your team don’t suck. You do.
August 27, 2012Posted by Laura Humphreys
Having frustrations with staff seems to be a theme for the small business owners I’ve been working with this month. Employees under performing, not taking responsibility for their outcomes, having little initiative and being too content to let the owner do the lion ...
Business Mentoring Tip #72 – How to create an effective system in six simple steps
July 3, 2012Posted by Laura Humphreys
Systems are critical to building a business that will one day set you free. If someone holds information critical to your business and they don’t show up for work tomorrow, you have a problem…especially if that person is you. So you need to ...
Business Mentoring Tip #71 – Think like an alien
July 2, 2012Posted by Laura Humphreys
Imagine if you had to exit your life for 12 months (to go save the world because you are in fact a secret super hero… we are imagining here) and an alien version of you will be arriving to take over your household. How ...
10 things you need to know about sales this week
June 18, 2012Posted by Laura Humphreys
Welcome to guest entrepreneur and salesman extraordinaire Mike Brunel for some more of his always useful tips on sales. Enjoy…
1. Create a sales culture– In Laura’s upcoming book she talks about creating a great sales culture- it has to however ...
Business Mentor tip #69 – Understand the TWO key reasons for being in business
June 11, 2012Posted by Laura Humphreys
For me, there are only two reasons why you would be in business for yourself: to make money and to make a difference.
1. Making money
“Being good in business is the most fascinating kind of art. Making money is ...
Business Mentor Tip #68 – Develop a freedom mindset
June 7, 2012Posted by Laura Humphreys
To build wealth and freedom from your business, you need a certain mindset. You must have the willingness and ability to see yourself totally free from the need to work for a living. And you have to believe that your business is ...
Business Mentor Tip #65 – The high performance formula
May 27, 2012Posted by Laura Humphreys
This tip comes to you from Antonia Haythornthwaite of Blue Dot Human Resources http://bluedot.co.nz/
Once you’ve made the decision to employ people you need to ensure you can get the best possible performance out of them. Antonia outlines four key elements that need to ...
Business Mentoring Tip #63 – Gather your insights
May 22, 2012Posted by Laura Humphreys
Good marketing is about being very clear who it is you are trying to sell to. It’s about knowing your target audience well. If possible get inside their minds and learn the triggers that will motivate them. The more insights you have about ...
MGP Scooters rock the world! What a fantabadooly MADD business! @mgp_scooters
May 7, 2012Posted by Laura Humphreys
You know I love to find inspiring business models to share with you. And this has to be one of them…. MADD, best known (if you have any children age 7 – 12 right now) as the makers of the MGP Scooters. You ...
Business Mentoring Tip #59 – Hire people you never want to fire
May 2, 2012Posted by Laura Humphreys
Just finished Chapter 16 of The Liber8 Factor – how to hire people you never want to fire. Some awesome tips thanks to my good friend Lindsay Jackson who has already built and sold two very successful recruitment companies and is now onto ...
Business Mentoring Tip #52 – Discipline damn it!
April 3, 2012Posted by Laura Humphreys
Over coffee sometime last year a senior partner in a big accountancy firm told me what he believed made the difference between business owners who succeed and business owners who do not.
You guessed it. Discipline.
He said he sees every sort of business, ...
Become an official ‘drinker’… Now here’s a great job for Kiwis in China!
March 23, 2012Posted by Laura Humphreys
Just spent two days at a course on doing business in China run by New Zealand Trade & Enterprise. It was a fantastic two days, run by a very good presenter called Amy Adams, an American living in China, teaching Kiwis how to ...
Friday Business Mentoring Tip – Create rituals
February 16, 2012Posted by Laura Humphreys
FINALLY back from my holidays… 6 weeks in total… where on earth did February go??? So back to posting business tips for all of you who appreciate a daily morsel of practical business advice. This one is a goodie and absolutely crucial if you ...
Daily Business Mentor Tip – Your business owes you a break
December 20, 2011Posted by Laura Humphreys
Your business owes you big time. For all your hard work. For the years it hasn’t paid you enough. For the stress it brings you. For the times it’s kept you away from your loved ones. For the extra wrinkles and the few kilos ...
Social media article 1.The benefits of using Facebook and Twitter
December 12, 2011Posted by Laura Humphreys
The following the first in a series of articles written by talented young friend of mine, Eva-Maria, who has a company making great waves in the social media world:
Benefits of Using Facebook & Twitter
Time and time again, business courses, workshops, general media and people are going on about using Social Media for business.
People are ...
Daily Business Mentor Tip – Above everything else – maintain your values!
December 12, 2011Posted by Laura Humphreys
http://www.stuff.co.nz/dominion-post/business/6118873/Little-School-a-big-idea I borrowed this tip from Maria Johnson of Little Schools, winner of the Supreme Regional Business Woman of the Year award recently. See the interview with Maria in today’s Dom Post. Her final tip for budding entrepreneurs… above everything else – maintain your values.
Your values are what ultimately defines your brand, which in turn ...
Winner Best Use of Technology Award!
December 4, 2011Posted by Laura Humphreys
Bit of bragging here. My other business, Pet Angels Heavenly Pet Care, just won the Best Use of Technology Award at Her Regional Business Woman of the Year in Wellington. An exciting award for us. As you know I am 100% committed to the belief ...
Daily Business Mentor Tip – Be like a bee!
December 1, 2011Posted by Laura Humphreys
You may have noticed from my daily rants that I am a big fan of leverage. The concept of doing more with less in your business. Which fundamentally means that ultimately you do not do the work. I love this picture. It’s a picture of a ...
Daily Business Mentor Tip – Plan like you are a big business
November 29, 2011Posted by Laura Humphreys
Every business starts as a small business. But those that grow to be big start out with a big business mentality. Big businesses have departments. And so should you. Even if the head of each department right now is you! When you do your planning for the next ...
Daily Business Mentor Tip – The 80/20 rule of Leverage
November 29, 2011Posted by Laura Humphreys
Everyone should be familiar with the old 80/20 rule as it seems to apply across most things in life. In business it generally means that 80% of your income comes from 20% of your clients. Or that 80% of your trouble comes from 20% of your ...
Daily business mentoring tip – You must have a back end
November 25, 2011Posted by Laura Humphreys
Here’s one of the best thing my dear old dad taught me about business. “You gotta have a back end!” My dad made his millions and retired age 50 when he sold his photocopier business. He told me how he managed to sell it ...
Daily small mentoring business tip – You will fail!
November 23, 2011Posted by Laura Humphreys
Here’s a business truth. In the lifetime of your business you will fail at something important. This could be hiring the wrong person. Choosing the wrong direction. Trusting a client who rips you off. Or just trusting your own judgement. And your failure will ...
Daily small business mentoring tip – If you don’t have a plan how will you know where you are going?
November 22, 2011Posted by Laura Humphreys
Once you have painted a clear end picture for you business, have a clear exit strategy in mind and have put in some key milestones to get there, its time to plan your action steps to the first milestone. This should be 12 – ...
Daily small business mentoring tip – The three ways to derive wealth from your business
November 12, 2011Posted by Laura Humphreys
There are only three ways to drive wealth from your business:
1. Make it so valuable you can sell it
2. Build it so that it will deliver profits without YOU
3. Develop it so that it generates great profits you can withdraw as you go… and ...
Business should be a force for good. Thoughts from Sir Richard Branson
October 24, 2011Posted by Laura Humphreys
Sir Richard Branson has long been a hero of mine and so it was a great pleasure to see him live in Melbourne at the 21st Century Financial Education Summit last night. What a lovely man and how humble and approachable. He spoke about ...
Sexy machine, sexy business, sexy model… it’s a winner!
October 13, 2011Posted by Laura Humphreys
I love great business models. Here’s a simple one, yet technically so right on many different levels.
It’s Nespresso, maker of coffee machines. My mum in UK has one and I fell in love with the taste of the coffee and the simplicity of the making ...
Womentrepreneurs… the double edged sword we wield
October 3, 2011Posted by Laura Humphreys
Having been interested in an article recently posted on Facebook about the lack of women seeking and gaining investment capital, I feel inspired to make a commentary on some characteristics that can both make and break women in business. I’ve coined the phrase ‘womentrepreneurs’ as merging words to make new ...
And my favourite businesses are…
September 16, 2011Posted by Laura Humphreys
I see many different businesses through my line of work, mostly are owner operators building businesses they hope one day to exit, either by selling it or creating leverage to enable the business to continue without them being there. Moving past the owner operator stage ...
Flying high today…
September 13, 2011Posted by Laura Humphreys
Don’t you love it when you love what you do? I’m on day 5 of a coffee detox so I had to get my high today from other sources today. It came in the form of a 4 hour business mentoring session with a group of people with a brilliant start ...
Game, set and match. Lessons in business from a game of tennis.
September 2, 2011Posted by Laura Humphreys
My lovely client Bridgette (from Village PR in Tauranga) told me the funniest story about a tennis game she played in Fiji recently. The parallels to and lessons about business were clearly apparent to us both so I just have to share it…
Bridgette it turns out is ...
Warning. This is a serious rant.
August 30, 2011Posted by Laura Humphreys
Sometimes you just gotta rant. On the front page of our regional newspaper The Dominion Post today was an article that just astounded me (no not the one about Terry Serepisos, who is after all a man creating his own destiny and whatever you think of him, good or bad, he is owning it and ...
7 things a business buyer will pay a premium for – #7 People
August 25, 2011Posted by Laura Humphreys
A business buyer will pay a premium for a business they feel sure will run without its owner. Unless you are planning to sell a concept or a leveraged business model (business models for exit are covered in the liber8yourbusiness programme), you are going to need people ...
7 things a business buyer will pay a premium for #6 – Systems
August 11, 2011Posted by Laura Humphreys
Let’s recap. You have attracted a potential buyer with your unique offering, your powerful brand and your fantastic reputation in your industry. They have looked at your books and can see the locked in future earning potential of your business. (By the way, I’m not ...
7 things a business buyer will pay a premium for # 2. A great product
June 15, 2011Posted by Laura Humphreys
A buyer wants a great business and they will look at many different aspects of your business as part of their due diligence. The product you sell is only one of these things, but it is important. Here are four ways to develop your product to give it more ...
Business Success.. How do you achieve it? Coffee with Jim Donovan.
May 30, 2011Posted by Laura Humphreys
Had a very enjoyable coffee with Jim Donovan last week. Luckily for liber8yourbusiness members, Jim has agreed for me to interview him for the liber8yourbusiness online seminar room. Here’s a sneak preview of what makes a successful business according to Jim.
Firstly though, a quick bio ...
Business mentoring question for the day… what is your technology light bulb?
May 14, 2011Posted by Laura Humphreys
I thoroughly enjoyed my day and night in Christchurch this week. As well as being very thankful that I had a lovely night sleep with no after shocks (I had been warned and briefed on what to do by nearly everyone I met), it was rewarding ...
Business Mentoring in the Cloud? A discussion on protecting your business in face of disaster…
April 21, 2011Posted by Laura Humphreys
Had another great Q&A session on Skype with some members from my online liber8yourbusiness programme yesterday. I love these sessions. Participants all email me a question beforehand and then the group provides thoughts to the business owner on their issue/question. I am really the facilitator of ...
May the force of your budget be with you – news from my online mentoring programme
April 13, 2011Posted by Laura Humphreys
Just finished loading Session 11 in my 12 month online mentoring programme and given we are at the start of the financial year, I just have to share the key tips. I did the seminar with Angela Meads, who used to be my General Manager ...
How disciplined are you?
March 29, 2011Posted by Laura Humphreys
Had coffee today with a partner at PWC and we got to talking about what makes a successful business. I gave him the benefit of all of my own well aired opinions on business… vision, planned exit, build to sell, leverage etc etc. “It’s not rocket science,” I ...
Planning your exit
March 21, 2011Posted by Laura Humphreys
More from my night at the Institute of Directors, this time my notes from Matt Kenealy. Matt was a co-founder of Axon Computer Systems in 1986. He was the majority shareholder when it sold to Integral Technology Group in May 2010. Here are my out takes ...
External Directors and Exits
March 18, 2011Posted by Laura Humphreys
Further to my last blog, I presented my five minute spiel at the Institute of Directors First Boards meeting a few nights ago. I was lucky enough to be on a panel with two very impressive men, both having worked with external Directors to see their ...
The purpose of an entrepreneur
March 14, 2011Posted by Laura Humphreys
Just been working on a talk I am giving this Wednesday on an entrepreneur’s perspective of the role of a Board of Directors. I only have 5 minutes to speak so has been a very good exercise in making it short but real. So here it is… you can have a sneak preview of my ...
Why would someone invest in your business? Or why wouldn’t they?
February 24, 2011Posted by Laura Humphreys
I’m currently looking at my investment portfolio and deciding how much of my wealth I want tied up in businesses… my own and others. Investing in business is a high risk strategy as so much depends on the people running the business and their understanding of what business really is. I’m always on my soap ...
How do I decrease my clients’ dependence on me?
February 23, 2011Posted by Laura Humphreys
Your clients believe that you are the only one they want because you have created that perception. Read that sentence again. Your clients believe that you are the only one they want because you have created that perception. Why have you created that perception? Because YOU believe no-one can do what you do as well ...
When is the right time to hire an admin person?
February 10, 2011Posted by Laura Humphreys
Here’s a question I get asked a lot when I’m working with small business/owner-operators. When is the right time to get help with the admin side of my business? My answer is always ‘NOW!’ Even if you can’t afford it. If you paid someone $20 ...
Why is an exit strategy so important?
December 19, 2010Posted by Laura Humphreys
Ask any business owner what their plan is to exit their business and chances are that they will look at you blankly. Ask the same business owners why they started their own business and they will tell you that they wanted to work for themselves, they want to be their own boss, have a flexible ...
What is passive income?
December 16, 2010Posted by Laura Humphreys
When I’m mentoring – either in my online programme or one on one, I talk a lot about ‘passive income’. This to me is the ultimate goal in life from a financial perspective. No matter what you do, there will come a time in your life when you no longer want to do it. Work ...
Turn yourself into a product
December 9, 2010Posted by Laura Humphreys
If your business is depending on your talent and skills to create income on a daily basis, it could be time for you to start thinking about how you can generate income in other ways. What can you sell your clients that doesn’t require YOU ...
Your business is like a shed!
November 23, 2010Posted by Laura Humphreys
Consider this… if you were going to build a shed in the garden, how would you approach it? You would have a clear picture of what the shed is supposed to look like right? And you would get a plan together of how to build it so that ...
Undercover Boss Addiction
August 24, 2010Posted by Laura Humphreys
OK I admit it, I get addicted to certain TV series. And now with MySky, I can set them on repeat record and before I know it I have a whole afternoon’s worth of viewing. I admit, Desperate Housewives and Gray’s Anatomy are not related to my commitment to helping business owners achieve wealth through ...
And the rich shall inherit the government spending problems…
August 16, 2010Posted by Laura Humphreys
I read in today’s DominonPost about UK Billionaire Sir Philip Green being enlisted to lead a ‘no holds barred examination of departmental budgets’ in England. Green is a billionaire retailer who’s empire includes names such as BHS, Topshop, Miss Selfridge to name but a few. He’s known for his ‘brutally effective commercial reforms’ and he’s ...
Turn yourself into a product
August 10, 2010Posted by Laura Humphreys
I ran a Q & A Skype session with a few of my liber8yourbusiness clients the other day. I thoroughly enjoyed it and thought I’d share a couple of the key questions and the answers discussed. One was around the right time to enlist help with admin when cashflow is tight. The answer actually came ...
Liber8tv is on its way!
August 5, 2010Posted by Laura Humphreys
Exciting times…the birth of Liber8tv is not that far away it seems. Thanks to the lovely people at 90secondstv I now have a film crew following me around on my quest to interview successful business people. My plan is to create an online tv channel hosting chat show interviews aimed at small business owners/owner operators ...
And the lights go on…
July 25, 2010Posted by Laura Humphreys
Had a great session with a liber8yourbusiness client on Skype recently. She had just completed Session 2 in the liber8yourbusiness Online Seminar Room – Choosing your Exit Model. In the session I outline 5 typical business models a business owner can choose from when planning their ...
How can I stop by business being dependent on me?
July 18, 2010Posted by Laura Humphreys
Just back from holiday in Taupo where I managed to squeeze in a quick lunchtime session with some women from the Her Business Network. I asked them to send me a question for discussion prior to the lunch. Here was one question we debated at length:
“I am a one person band – and built a ...
Traits of the Rich & Free #5 – Plan your success
June 27, 2010Posted by Laura Humphreys
Point 5 in my Traits of the Rich & Free is “Have a plan”. Very successful people follow a plan, its as simple as that. You have a vision for your ultimate ideal outcome, you articulate the vision for yourself, the people you ...
Practitioner or entrepreneur?
June 14, 2010Posted by Laura Humphreys
My osteopath is a miracle worker. This morning I could hardly sit up straight over my long black and newspaper. By 2pm I was pain free. As I lay on the table feeling Martin’s healing hands do their work, we talked about business. He is the first to admit that if the definition of a ...
Traits of the Rich & Free #3… Belief
June 11, 2010Posted by Laura Humphreys
Here’s a principle of life…You will not succeed unless you believe you will. It’s true of any person who achieves the highest success in their chosen field – be it business, sports, the arts, music, whatever – the people reach the top are ...
Husbands in business – a new syndrome?
June 2, 2010Posted by Laura Humphreys
Just presented to Her Business Network Meeting in Napier, Hawkes Bay. What an impressive group of business women. The very fact that these business owners give up their Wednesday evening to spend time learning and sharing ideas with other business owners tells me that they have the attitude it takes to create financial freedom from ...
Traits of the Rich & Free #1. Vision
May 27, 2010Posted by Laura Humphreys
Without fail, every single successful business person I’ve talked to states having a vision for how the business will turn out as a critical factor in its success. I started reading Michael Hill’s book “Toughen Up” the other day and right there in ...