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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 ...
Continue reading8 keys to a bigger, better business. Key number 5 …
June 1, 2016Posted by Laura Humphreys
One of the biggest obstacles to increasing business value is the dependency of that business on its owner. And an even bigger danger is the unwillingness of a business owner to let go.Something I often hear people ...
Continue reading8 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 ...
Continue readingWhat makes a saleable business?
June 29, 2015Posted by Laura Humphreys
In this video, I’m talking to a large group of business owners about creating success in business. And as those who know me will tell you, my definition of success when it comes to business is … to build an asset that ultimately feeds you financial freedom for the rest of your life.
If ...
Continue readingDoes your business ever feel like a life sentence?
June 5, 2015Posted by Laura Humphreys
My early mentor in business was Robert Kiyosaki. I studied with him all around the world, long before he wrote the Rich Dad Poor Dad books. One day, at his business school in Hawaii I was sitting next to him at dinner. We were talking about finding your life purpose and building a business around ...
Continue readingPlan your business with the exit in mind… a mantra I never grow tired of!
June 3, 2015Posted by Laura Humphreys
If every business owner started their business knowing it was meant to be an asset not a job, we would be a nation of wealthy entrepreneurs and one of the leading economies in the world. My mission is to help every business owner I come into contact with grow a business as it should be… ...
Continue reading3 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 ...
Continue reading“Starting a business is easy. Creating something of value is harder”
June 20, 2014Posted by Laura Humphreys
If you have a few minutes, take a look at this interview with me on TVNZ Good Morning show earlier this week. To be honest I was quite thrown by the questions asked. I had expected it to be a jolly chat about my book, with a view to inspiring some talented ...
Continue readingDo 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 ...
Continue reading3 reasons why your business is not ‘your baby’
May 14, 2014Posted by Laura Humphreys
Before you read this blog please take a moment to watch this quick video about Kathleen Turner of Tate’s Bake Shop – the story of a woman who lost it all then rebuilt it – with major success.I love how towards the ...
Continue readingHave you created a business or a life-long job?
April 23, 2014Posted by Laura Humphreys
‘
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 to business groups is: ‘Why are you here? Why are ...
Continue readingIf you can’t be a billionaire why bother? Does every small business owner have to be the next Richard Branson?
April 1, 2014Posted by Laura Humphreys
I had an interesting debate on Linked In recently after I posted my blog “Some frightening statistics about small business” onto a discussion group. I thought my point was that if more small business owner operators were inspired and equipped to grow ...
Continue readingSome frightening statistics about small business…
March 18, 2014Posted by Laura Humphreys
- Out of 469,118 businesses, 439,920 had less than 10 employees
- That’s 94%!
- 74% of these are deemed uninterested in or unsuitable for expansion
- 55% self employed people are age 40 – ...
Continue readingHave you created a business or a job? 5 tips for turning your small business into a big asset
March 17, 2014Posted by Laura Humphreys
My mantra for small business owners is simple: Don’t create a job, build yourself an asset. When you own a business you have the opportunity right there in your hands to build something that can create financial security for you ...
Continue readingWant to create a business success story? Learn to see the future
February 27, 2014Posted by Laura Humphreys
I’ve interviewed many wealthy entrepreneurs as part of my mentoring programmes, always seeking to find out what makes them so successful. How do they build businesses that achieve such growth and generate such great financial returns? The number one trait that comes ...
Continue readingWhat’s the number one thing to consider if you ever want to sell your business?
February 25, 2014Posted by Laura Humphreys
If you are serious about selling your business one day, it’s important to have a good idea who might want to buy it. Imagine spending 10 years building a business you intend to sell only to realise you have ...
Continue readingTo achieve a successful exit, it helps to view your business as a product…
February 20, 2014Posted by Laura Humphreys
A successful angel investor friend explained to me the concept of exit strategy like this: To achieve a successful exit, it helps to view your ...
Continue readingYour business is like a shed! A lesson in successful business planning …
January 15, 2014Posted by Laura Humphreys
Here’s something I tell business owners all the time… “your business is like a shed”.Whaaaat??!!
Read on for the explanation…
If I asked you to build a shed, what would you do? You would do what you do with any project, right? You’d get ...
Continue reading5 critical success factors for a future business sale… what every small business owner should be thinking about right now
January 11, 2014Posted by Laura Humphreys
Businesses do not typically sell by accident. The owners that end up selling their business for a significant amount of money have usually been preparing for that day for some time. You don’t have to be thinking about selling your business any time ...
Continue readingHow do you build a saleable business? Here’s a tip you can start thinking about right now…
January 7, 2014Posted by Laura Humphreys
Here’s an excerpt from my book Liber8 your Business… a very useful tip when it comes to planning a business that will attract a buyer in the future:A successful angel investor friend explained to me the concept of ...
Continue readingIf 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”…“Earlier ...
Continue readingWake up peeps! It’s March… you’ll be needing these 7 steps to the most practical budget…
March 12, 2013Posted by Laura Humphreys
One of the first questions I ask a business person who wants to work with me is… ‘do you use an annual budget?’ Would it suprise you if I say the answer is nearly always ‘no’?Most small business owner operators do not manage their ...
Continue readingSo what’s the big deal about having an exit strategy anyway?
November 14, 2012Posted by Laura Humphreys
Why do I keep blathering on about the importance of planning an exit strategy? Good question.
Here’s an excerpt from my VERY SOON to be published book…
Chapter 6. Why an exit strategy?
‘Affairs are easier of entrance than of exit; and it is but ...
Continue readingWhere are you at in the soccer game of life?
October 11, 2012Posted by Laura Humphreys
Someone once told me that life is like a game of soccer. It’s a game of two halves. In the first half you are becoming an adult and you’re full of energy. You’re also a bit stupid and you have all your learning ...
Continue readingBusiness Mentor Tip #74 – Kick sand in the gorilla’s face
July 24, 2012Posted by Laura Humphreys
Kicking sand in the gorilla’s face. I love this expression. Told to me by clever guy called Dion Mortensen, investor, company director and all round smart guy to have coffee with. We agreed over said coffee that building an exit strategy into your business ...
Continue readingBusiness 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 ...
Continue readingBusiness 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 ...
Continue readingBusiness 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 ...
Continue readingDaily Business Mentor Tip – Be a winner
December 15, 2011Posted by Laura Humphreys
If you think you might want to sell your business one day (and you should be thinking this way unless you plan to run it from your mobility scooter!), then you need to make sure your potential buyers notice you. The best way to ...
Continue readingDaily 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 ...
Continue readingDaily 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 ...
Continue readingWhen is the best time to plan your exit?
October 18, 2011Posted by Laura Humphreys
This will be a short blog post. The answer is NOW!If you haven’t already, make it the first thing you do tomorrow…. answer this question, how and when is your business going to pay you back for all your hard work?
The foundation of The Liber8 Factor, and ...
Continue readingAnd 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 ...
Continue readingExcerpt from latest NZ Business Mag…
August 22, 2011Posted by Laura Humphreys
“For years now, the ANZ Privately-owned Business Barometer has been tracking baby boomer’s exit plans. As recently as 2010, it showed that 41 percent of business owners planned to retire in the following five years. Yet only 13 percent of them had formal exit plans.”
This is why I created the liber8yourbusiness programme. My most passionate ...
Continue readingPlan your exit strategy from the start
August 4, 2011Posted by Laura Humphreys
Plan your exit strategy from Day 1
I believe a business should be planned with the end in mind … click on the above link to see a video clip from a live talk given to a Wellington business group.
Continue readingBusiness 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 ...
Continue readingMay 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 ...
Continue reading“It’s rare to bat one out of the park first time”
April 6, 2011Posted by Laura Humphreys
I’m quoting an interview I did with Rod Drury when I write this headline… he was referring to the most famous and fabulous stories of mind blowing business success we know so well. Sam Morgan – from student looking for heater to warm his drafty ...
Continue readingHow 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 ...
Continue readingPlanning 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 ...
Continue readingExternal 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 ...
Continue readingThe 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 ...
Continue readingWhy 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 ...
Continue readingWhy 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 ...
Continue readingOwner operator or wealthy entrepreneur?
December 6, 2010Posted by Laura Humphreys
What is the key difference between an owner operator and a wealthy entrepreneur? Simply put it’s this:
When planning out their business, the wealthy entrepreneur builds an asset. The owner operator builds a job.
An entrepreneur in my view is someone who creates a business to build long term wealth and therefore start ...
Continue readingA successful exit… the ultimate business goal
September 12, 2010Posted by Laura Humphreys
Exciting news… Trilogy sells for approximately $20 million after just 8 years in business. Two sisters started the skin care company from very humble beginnings in Upper Hutt, Wellington. The company launched with 5 products in New Zealand and Australia and at time of sale had 40 products in 3500 stores in 15 countries. I ...
Continue readingPartnerships… not always easy!
August 19, 2010Posted by Laura Humphreys
Had a great time speaking at the Her Business Network meeting in Tauranga last night. I’m always amazed at the commitment of business women around the Country. There was a strangely high percentage of solo mum entrepreneurs there (naturally I felt a sense ...
Continue readingAnd 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 ...
Continue readingHow 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 ...
Continue readingThe missing link
June 22, 2010Posted by Laura Humphreys
I picked up a booklet published by New Zealand Trade & Enterprise the other day. It was called ‘Planning for Success, Helping you develop your own business plan’. There is loads of great information in there and definitely a useful resource for small ...
Continue readingTraits of the Rich & Free #4. Clear Goals
June 16, 2010Posted by Laura Humphreys
Goals are incredibly powerful things. The minute you write a goal down you steer your thinking towards the achievement of that goal. In life goals are empowering. In business goals are essential. The achievement of your goals is how you measure your progress. ...
Continue readingPractitioner 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 ...
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