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Surviving Covid19 – My 10 Step Business Survival Mantras
March 27, 2020Posted by Laura Humphreys
Apologies for adding another blog to the hundreds out there about Covid19, we’re all both sick of it and addicted to it at the same time right? This is an unprecedented time and feels like we’ve all gone to war, which I suppose we have really. And like war, it’s very frightening, everything changes, fear is rampant ...
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How to create the killer business plan you’ll actually follow this year
April 5, 2017Posted by Laura Humphreys
Too often annual business plans are so wordy they get stuck in a drawer, or there are too many things that need attending to that the business owner gets overwhelmed and struggles to execute the plan. Or the ideas are so hidden in words that they get lost. The reality is that 12 months is ...
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 unique enough to carve a niche in that market and you need think about and plan for a business model that will ...
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 To Business Success Series). You may well have proven just how great your offer is, with consistent sales under the belt. But ...
How to grow your business… the Pillars to Business Growth Strategy Series
November 13, 2016Posted by Laura Humphreys
Nearly 5 years ago now, after selling my last business, I accidentally fell into being a business mentor. I found myself speaking at business networks, telling my story about how I went from being an advertising copywriter to creating and ultimately selling my own advertising agency… the approach I took, how I planned the sale ...
8 keys to a bigger, better business. Key 8 …
June 21, 2016Posted by Laura Humphreys
When it comes to business success, there is an underlying trait that every smart entrepreneur has – not just the ability to have a good idea, create a business, to set a vision and dream a dream – but the ability to see it through. One of the biggest personality disorders I see among business owners ...
8 keys to a bigger, better business. Key number 7 …
June 14, 2016Posted by Laura Humphreys
You cannot build a great business without a team. And you can’t build a high performance team without a great team culture. Like branding, company culture is another misunderstood and undervalued success factor in business. As soon as you start employing people you have a need for a great culture. Again, the biggest and best companies ...
8 keys to a bigger, better business. Key number 6 …
June 7, 2016Posted by Laura Humphreys
In my view, branding is one is the most misunderstood and least valued weapons an entrepreneur has on the road to success. To be blunt, I think one if the biggest differences between really successful entrepreneurs and small business thinkers is their commitment to having a powerful brand. If customers love your brand and your teams ...
8 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 say is that their business is their baby. But it’s not. Your business is not your baby. Which leads me ...
8 keys to a bigger, better business. Key number 3 …
May 17, 2016Posted by Laura Humphreys
When I did a plan to start my own advertising agency I knew right from the start that I was building it to sell it within 10 years. And I knew that the likely buyer would be a multi-national agency group. I even wrote down what I wanted to sell it to them for. I ...
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 what you offer and in terms of what your business is ultimately worth financially. Getting bigger and better isn’t necessarily easy, ...
8 keys to a bigger, better business. Key number 1…
May 3, 2016Posted by Laura Humphreys
Over the next 8 blogs I’m going to share my 8 keys (from my own experience and from observations gleaned by interviewing a myriad of successful entrepreneurs) to a bigger, better business and I’m going to invite you to think about each key, with an exercise to complete before the next key appears. Key number one: Be ...
The business case for the business case – how to make a good decision
March 4, 2016Posted by Laura Humphreys
As a business mentor I often get asked my opinion on the validity of a particular decision. Should I open a new regional office? Should I hire a sales person? Should I bring on more partners into the business? Should I invest $50,000 in a new brand? Should we launch a new product? Should we ...
8 principles of brand building every business owner must know
August 28, 2015Posted by Laura Humphreys
Ok here comes another rant. Something else I feel PASSIONATE enough to SHOUT ABOUT IT. Today’s outpouring is about your brand… and why if you seriously want to grow, you must take this subject very seriously indeed. I do believe the power of a company’s brand is the single most misunderstood and under appreciated aspect of ...
The darker side of business ownership …
July 23, 2015Posted by Laura Humphreys
I don’t have time to write this blog. But I can’t sit at my desk in integrity and not write it. Because I’ve owned a number of businesses and I have been to the dark side. And when my mission is to set business owners free, I can’t ignore the black hole that seems to ...
Does 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 ...
Plan 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… ...
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 the workshop, 80% of them mentioned the realisation that a business should be an asset not a job, and the keys to ...
“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 mums at home ...
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 I know this business owner has a chance at building something amazing – with a little guidance, a lot of ...
3 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 end of the video, Kathleen King talks about the reason for success behind ...
If 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 a valuable asset rather than settle for a low paying job, our economy would be ...
Have 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 in the future. You are going to work hard anyway, why waste this valuable time ...
What’s the best weapon for world domination in business? A brilliantly simple tip…
March 10, 2014Posted by Laura Humphreys
Guest story with Mike Brunel 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? It all started with a Dictaphone. In the early days we worked out that we could show radio media companies how to ...
Are you brave enough to have a powerful brand? Find out here…
March 4, 2014Posted by Laura Humphreys
As anyone who has worked with me will tell you, I’m an avid fan of branding. I look at a client’s brand and ask myself, does it tell me something exciting, original and impactful about their business? Does it set the foundation for everything the business stands for? Does it place them instantly a head ...
What causes customers to leave you?
February 27, 2014Posted by Laura Humphreys
Why do customers leave? Guest blog by Mike Brunel. I am continually asked why my advertisers leave me after a few campaigns. I do not think for one moment that has not happened to you. It has me, several times, and every time it does I learn something. As a business owner why do your clients leave you? ...
Want 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 through without exception is their ability to look into the future and see ...
What’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 created something nobody wants to buy. If you build a business with a buyer in mind, ...
To 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 business as a product. A good business person empathises with their customer and understands their reasons for buying your product. You know what need your product fulfils in the market ...
If you want to succeed as a small business, start thinking like a big dog
February 17, 2014Posted by Laura Humphreys
It’s that time of year when you should be working on your business plan for the next financial year. Please, please, please tell me you do a plan each year? You simply cannot succeed in business unless you take it seriously and understand the game of business itself. I encourage my clients and readers to observe ...
The 9 big DON’TS if you want to successfully grow your business
February 7, 2014Posted by Laura Humphreys
Everyone is always telling you what you should do to be successful in business. I thought for a change, I’d tell you (based on my own bitter/sweet experiences) some of the things you really shouldn’t do. Here are my top nine DON’TS when it comes to being successful in business: 1. DON’T start or continue a ...
How to motivate your team… take the check list challenge
February 3, 2014Posted by Laura Humphreys
In my latest book, The Liber8 Disciplines, I’m working with HR consultant Antonia Haythornthwaite on the key strategies to build a high performance team. Antonia advises that you find out what key factors motivate a particular individual and then use these to encourage the best performance from this person. Knowing what motivates an individual and ...
What 10 questions should every great sales person ask?
January 23, 2014Posted by Laura Humphreys
In sales you should be listening for 80% of the time and talking for 20%. If you ask the right questions, you will find out your prospect’s real needs and find a way to sell your product/service as the solution. When selling, follow the steps below with every question: Ask Listen Re-affirm (show that you’ve heard what they ...
Your 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 a picture of what the shed is supposed to look like. You’d look ...
5 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 soon to start planning now for the day when you might want ...
Do you have the right mindset to be successful, rich and free? Rate your freedom mindset here…
January 9, 2014Posted by Laura Humphreys
As part of my Liber8me business mentoring programmes, I spend time interviewing successful business people. My key criteria for selecting an interview subject is that the person must have built and sold at least one successful business, which has created wealth and freedom of choice for them. I ask what they believe are the key ...
How 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 exit strategy like this: To achieve a successful exit, it helps to view your business as a ...
What one thing will make your business more valuable to a future buyer? Build this ‘attractor factor’ for the future into your business plan today
January 3, 2014Posted by Laura Humphreys
This is an excerpt from my book Liber8 your Business: The revolutionary business planning technique that will set every small business owner free. It’s such an important point when it comes to building a valuable, saleable business, I thought I’d share it in today’s blog: How to command a premium price when selling your business: Your reputation ...
Why are customer surveys so important? And how do you do them properly?
December 17, 2013Posted by Laura Humphreys
I’ve recommended to three different clients in the past week that they undertake a client and prospect survey to find out what’s really going on with their business. Each of these clients has different challenges but each will be able to make better decisions by asking the people they are trying to reach. I was in ...
Tired of being tired? Here are 3 steps to overcome business fatigue.
October 7, 2013Posted by Laura Humphreys
I talk with small business owners every day and there are two words I hear all the time: “busy” and “exhausted”. It’s a common ailment of the business owner operator. I’m sure you know how it feels. So how can you look after yourself and try to minimize that feeling of overwhelm that sometimes feels like ...
Are you thinking like an Apple or a BlackBerry? The most important lesson of the day…
September 23, 2013Posted by Laura Humphreys
Almost exactly a year ago today (11 September 2012) I wrote a blog tip entitled ‘Watch for changing paradigms’ (click to read it). At the time I was crafting that blog, the Board and management team at BlackBerry would have already been sweating buckets round the Board table about the paradigm shifting under their feet. I ...
What is the single most important question every business owner should ask? Find out here…
September 3, 2013Posted by Laura Humphreys
Bula from Fiji! I’m enjoying a quick solo break, just to re-charge my batteries (which by the way is something every business owner should do on a regular basis… even if you don’t have time – no wait, especially if you don’t have time). On my ride from Nadi airport to my hotel I met a ...
Why the best business people fail… and how you can be a successful failure too
July 30, 2013Posted by Laura Humphreys
You might think failure doesn’t enter the vocabulary of successful people. But willingness to fail is a key criterion for success. Here’s an unavoidable truth about business – you’re going to fail in your business at some stage. You will probably do some really dumb things and at times you may feel like an idiot. ...
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 to learn from all your own mistakes’. In business, I’ve made plenty and one of ...
Business mentor tip #89 – What to think about NOW if your business is ever to be saleable…
July 9, 2013Posted by Laura Humphreys
Here’s another extract from my very soon to be released book, Liber8 Your Business… talking about the critical factors of the ‘build-to-sell’ model (note, in this chapter in the book I talk about 3 models). I cannot stress enough how important it is to starting thinking about this NOW rather than when it’s too late. ...
Business Mentor Tip #88 – Business is a roller coaster – strap in for the ride of your life!
June 26, 2013Posted by Laura Humphreys
There are some fundamental truths about owning a business that apply regardless of what you are selling. One of these is something I’m not sure every business owner realizes when they set out – business is not an easy ride. And like the Superman ride at Movie World, it is not for the faint hearted! There ...
Freedom is knowing you’d keep doing what you are doing if you knew you were about to die
June 10, 2013Posted by Laura Humphreys
I just watched this amazing speech from Steve Jobs when he knew he was going to die. It moved me as I expect it will you. Watch it by clicking link below then come back and tell me what you think. http://youtu.be/a5SMyfbWYyE Understanding freedom and how important it is to us as human beings is becoming an ...
The ten traits of wealthy entrepreneurs. What are they and do you have them? Score yourself here
June 5, 2013Posted by Laura Humphreys
Over the past two years I have interviewed over forty successful entrepreneurs. My criteria for an interview subject is that they must have built and sold at least one successful business. Many of them have been serial entrepreneurs – having created more than one business and learned many lessons along the way. As I’ve talked to ...
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 aspects of their business to allow them to focus on the really ...
Business tip # 86 – Go boldly into the unknown… and make mistakes, they’re good for you!
April 25, 2013Posted by Laura Humphreys
Recently I interviewed Shane Bradley – former owner of GrabOne and founder of new online retailer pet.co.nz. Shane’s top tip for small business owners was this: “if you’re not making mistakes, you’re not trying hard enough”. He told me about his first business, which went under due to bad debts. It was humiliating and humbling he ...
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 to business groups is: ‘Why are you here? ...
Success is a decision – but are you prepared to make it?
March 8, 2013Posted by Laura Humphreys
Last week I interviewed Ernst & Young’s 2012 Young Entrepreneur of the Year, Dr Sam Hazledine. His business Medrecruit was started from nothing six years ago and has featured for the past four consecutive years in the Deloitte Fast 50, as well as winning Westpac Business Excellence Medium-Large Business 2012. Among other things I asked Sam what he thought stopped ...
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 on leverage, leverage, leverage. Here’s a definition of ‘leverage’ I found online at ...
Business Mentor tip #82 – How to save money attracting new clients without cold calling
October 16, 2012Posted by Laura Humphreys
Another great sales tip from guest entrepreneur Mike Brunel With the cost of acquiring new customers mounting, many companies’ customer bases are shrinking, due to loss of confidence of advertisers and consumers alike. What you will learn in this month’s Sales tip is the secret to understanding the power of client’s referrals. Referrals are often one way to ...
And here’s the tip that made my day!
September 19, 2012Posted by Laura Humphreys
I’ve been feeling a bit down on myself in last day or so. Self doubt can creep in when you least expect it. So it absolutely made my day to return to my emails to find this waiting for me… from my Liber8 Tip Exchange, a tip from a wonderful entrepreneur that reminded me why ...
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 thinks the kid who comes first is his and goes crazy ...
Business Mentor tip #79 – If Apollo 11 can be 97.5% off course, so can you…
September 13, 2012Posted by Laura Humphreys
You will know by now (if you’ve been reading my blogs or regular column in NZ Business Magazine; attending my talks or just following my random comments on Facebook or Twitter) that I am a dedicated believer in the power of forward planning. To succeed you must have a clear goal and a plan to ...
Business mentoring tip #77 – The leader versus manager debate…
September 7, 2012Posted by Laura Humphreys
In my last tip I was pretty tough on us entrepreneurial types, stating boldly that if our employees were under performing it was our fault not theirs. I do believe this is true in very many cases, although of course not all. Some employees do simply suck and I’ll talk more about this in future ...
Business Mentoring Tip #75 – Trust your gut
August 21, 2012Posted by Laura Humphreys
This morning it dawned on me that I haven’t been employed by someone now since 1990, when I left my job as an advertising copy writer. That’s 22 years of fending for myself! I realised that not only am I totally unemployable now, but that I’ve also become quite wise in certain areas. One of these ...
10 beliefs that will change your life…
August 14, 2012Posted by Laura Humphreys
Do you believe your beliefs can change the way your life works? I certainly do. The following 10 beliefs come from an article I just read at inc.com written by Geoffrey James and I was encouraged to see that I subscribe to these pretty much on a daily basis. What about you? 10 powerful positive beliefs I ...
An important lesson on truth from the Bollywood Dentist…
August 12, 2012Posted by Laura Humphreys
I had a big shock last week on my way back from Tonga. Upon the recommendation of a client I called into see a dentist for a second opinion on my troublesome tooth. The dentist was Dr Loy at the Caring4smiles practice in Epsom. After one hour with him I had committed to spending the ...
Sometimes the only thing to do is go to the beach…
July 30, 2012Posted by Laura Humphreys
I’m off to Tonga and shutting down for 7 days. Boy do I need it! My book is off being given the serious eye by someone who promises to be cynical. I think this is a good thing! I’ve been getting up at 5am and working late for 8 months now to get the first ...
Business Mentoring Tip #70 – Blow your own trumpet
June 25, 2012Posted by Laura Humphreys
You cannot be shy and be in business. If you are going to build a business that someone will ultimately pay a large sum of money for, you cannot afford for your business to blend with the wallpaper. You have to put your business out there and make sure it is seen. You have to ...
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 begin with you changing your mind set around being committed to turning your company into ...
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 art and working is art and good business is the best art”. Andy Warhol Business is a financial ...
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 your major wealth creation tool and your ticket to the life of your ...
Business Mentor Tip #67 – Practice persistently persisting with your persistence
June 6, 2012Posted by Laura Humphreys
Ok Ok, enough already! But I have a point to make (of course) and that is this… you cannot succeed in business without the persistence chip well and truly embedded in your body. I will use one oldie but very goodlyy example of how persistence pays off and then I’ll set you a challenge for the week. My ...
What does financial freedom mean to you?
June 5, 2012Posted by Laura Humphreys
Here’s another excerpt from my very nearly finished book: I’ll quickly tell you this story about my father. He died at age 73. Which seems far too young these days, when most of us hope to live well into our eighties. The good news was that he retired not long after his fiftieth birthday, so he’d had 23 years of ...
Business Mentor Tip #66 – No is spelt with a K
May 28, 2012Posted by Laura Humphreys
This tip comes directly from my book in progress, from the chapter on sales written together with Mike Brunel (www.talkingmediasales.com). When someone says ‘no’ you can tell yourself that what they are really saying is that they want to ‘know’ more. What they are really telling you is that you haven’t convinced them yet. Maybe you ...
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 be in place 1. Skills, Knowledge and Talents. If you’ve followed the recruitment ...
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 your potential customers the better. Discovering insights doesn’t have to be difficult. At ...
If you don’t ask the answer is always no!
May 15, 2012Posted by Laura Humphreys
This was one of the slides at my talk to the Bubbles & Inspiration audience last night. My point being that sometimes to get ahead in life you have to ask for things, even if it seems far too bold an ask. My example was when I was a secretary in an advertising agency in ...
Business Mentoring Tip #61 – How to win a competitive pitch
May 14, 2012Posted by Laura Humphreys
Just finished the chapter in my book with the same heading, so thought an abbreviated version of this would make a great tip. As you know, my advertising agency went from zero to billings over $15 million within nine years. To achieve this we had to win some pretty big pieces of business, often coming from ...
Business Mentoring Tip #60 – “Move fast and break things”
May 8, 2012Posted by Laura Humphreys
Ok Ok I admit it… this is not my quote. It’s a “Facebookism”. When smooching around Google looking for inspirational business stories (as I do) I stumbled across this blog entitled “Sh*t Facebook employees say” by Josh Levin. The blog outlines some things learned about Facebook from their recent IPO filing. Along with all the accounting and legal information there were ...
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 her third. Lindsay lives and breathes recruitment so I’m taking her tips ...
Hiding under your duvet vs making a difference. What to do when you’ve had a crap week…
May 1, 2012Posted by Laura Humphreys
Have you ever had a day when you wake up wondering what on earth you are doing? Being positive, visionary and inspired all the time can be exhausting. Sometimes you just feel small, insignificant and just plain tired. I had a week like this recently. Some tough stuff happened and my resolve to live a happy, ...
Business Mentoring Tip #57 – How to make a tough decision without losing sleep
April 27, 2012Posted by Laura Humphreys
There is no doubt. As a business owner you will have tough decisions to make. Sometimes it might feel this is almost on a daily basis. Should you invest in that overseas training right now? Should you bring on that next staff member? Should you re-brand now or wait until next year? There is a regular ...
Guest Blog – How to get 2000 Facebook likes in less than 12 months
April 25, 2012Posted by Laura Humphreys
By Jody Worsfold, Chief Cupid, Romantic Gestures I once heard the saying, you can’t sell a secret. With that in mind I set out with a mission to tell Kiwi couples about my business; Romantic Gestures. Romantic Gestures has a big heart and a small budget so the key for me was to reach many people for ...
Try this, it’s fun… colorology tells me I’m born to be a writer!
April 18, 2012Posted by Laura Humphreys
I got up at 3.30am because my mind was going crazy. I couldn’t sleep so I got up to work on my book. Couldn’t resist a quick peek at Facebook and came across this www.colorology.com It’s a site from Pantone* which tells you your personal birth colour and how this reflects your personality. I know, I know… flakey ...
Who are your business super heros?
April 18, 2012Posted by Laura Humphreys
Thankfully successful business people don’t wear tights and cape, get dressed in a phone box or fly through the air. But I think all of us in business have business super heroes out there who we truly admire. Those who have shown us greatness, not just in their business success, but in who they are as people. I’ve been thinking ...
Business Mentoring Tip#55 – Imagine your are Apple for a day
April 16, 2012Posted by Laura Humphreys
I was up at the crack of dawn to work on my book again this morning. The chapter I’m working on is called “Driving value through your brand” and I find myself studying the great brands of our time to demonstrate some of the points I’m making. You can’t really write a chapter on branding ...
Business Mentoring Tip #53 – What does your logo say about you?
April 9, 2012Posted by Laura Humphreys
What values do you think of when you see this symbol – the logo for Mercedes Benz? Quality and luxury right? You know what this brand stands for just from its logo. Just like you know that a swoosh tick logo stands for a just do it attitude. Right? Do you know why this is? Because these ...
50 qualities of the best business blogs in the world
April 4, 2012Posted by Laura Humphreys
I stumbled across this blog by Marcus Sheridan whilst exploring tips for blogging… thought I’d share it with you. Here’s the link: http://www.thesaleslion.com/qualities-best-business-blogs-world/ From the desk of liber8yourbusiness. Business mentors and experts in small business exit strategies. Based in Wellington, New Zealand.
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, in all shapes and sizes. He sees them come and he sees them ...
Business Mentoring Tip # 51 – Goals and cocktails, a powerful combo
March 30, 2012Posted by Laura Humphreys
There’s nothing as satisfying in life as the achievement of a goal (Except perhaps a nice cold glass of rose on a summer’s day!). Seriously… making progress in life, regardless of what you are trying to achieve, is made all the more meaningful if you are achieving what you set out to achieve. But I can ...
Business Mentoring Tip #49 – Rock the royalty of your Universe
March 28, 2012Posted by Laura Humphreys
I thoroughly enjoyed having coffee with Glenn Baker, editor of NZBusiness Magazine yesterday. We shared lots of business ideas and thoughts about how we can work together to help small businesses succeed. Glenn gave me a tip to share and as obvious as it is, you always need to look deep in your heart and ...
Business Mentoring Tip #48 – Is your market big enough?
March 26, 2012Posted by Laura Humphreys
Just some numbers to think about. What is your margin? And how many/how much do you need to sell for your business to truly make great profit for you after normalised expenses? What’s the population of New Zealand? And what % of the population might want your product? Are you going to make it happen ...
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 do business there. Loved it and learned heaps. Highly recommend the course. There ...
Business Mentoring Tip #47 – What’s your Mission Possible?
March 20, 2012Posted by Laura Humphreys
I’ll keep the tips even more simple today. Facebook’s mission is ‘to make the world more open and connected’… what’s yours? If you are following my blogs with any regularity you will know I am mad keen on all businesses having a purpose and a mission. They are much the same thing… a reason for being ...
Business Mentoring Tip #46 – Have a plan and execute it
March 20, 2012Posted by Laura Humphreys
A simple tip today. Just some advice I have a very good friend as he left for the airport today. How do you take your business to the next level? Work out a plan… for new business, for growing existing clients, for building the best team, for keeping your margins as high as possible…. then…. ...
Guest business mentor tips – 10 things you need to know about sales this week
March 12, 2012Posted by Laura Humphreys
Look out for regular guest mentor tips from now on as I call upon experts from all specialist fields of business to share their top tips with you. Today I welcome these tips on sales from one of the best sales people I know, Mike Brunel. 10 things you need to know about sales this week…. 1. Everyone ...
Watch #Sir Richard Branson talk about #Screw Business as Usual
March 10, 2012Posted by Laura Humphreys
http://youtu.be/cwmRIIQk6Qc “Do good, have fun and the money will come”. So says Sir Richard Branson. We are in the new era of business, where the lines between work and purpose are merging into one. Where all businesses need to be thinking about how they can become a force for good. I love this. Take a look ...
Business Mentor Tip #43 – Get real…
March 7, 2012Posted by Laura Humphreys
Here’s a quote from Abraham Lincoln: “How many legs does a dog have if you call a tail a leg? Four. Calling a tail a leg doesn’t make it a leg.” In other words, don’t kid yourself you are something you are not. In business it’s all too easy for us to convince ourselves everything is alright. ...
When a $10 million mistake gets you promoted…
March 6, 2012Posted by Laura Humphreys
I love the famous story about IBM story from the 1960s. An executive at the company made a decision that ended up losing the company $10 million. He was summoned to the office of formidable CEO, Tom Watson. As he cowered, Watson asked, “Do you know why I’ve asked you here?” The executive replied, “I ...
Business Mentor Tip #41 – Don’t be afraid to say no
March 6, 2012Posted by Laura Humphreys
Being in business can make you a real ‘yes’ man/woman. Yes to any new business that comes your way. Yes to whatever your demanding clients demand of you. Yes to the staff member who needs a day off on your busiest day of the year. But remember, good business is about quality. You want quality ...
Business Mentor Tip #40 – Talk it up baby
March 5, 2012Posted by Laura Humphreys
Whatever is going on in your business, when it comes to your public face, you need to talk it up at all times. Never let the outside world know you are having a bad patch. All businesses have rough times, when sales are down and cashflow is tight, when staff are leaving and stress is ...
Business mentor tip #39 – Grasp the trends
March 2, 2012Posted by Laura Humphreys
I think Bob Dylan said it best, “The times they are a changing”… and ironically this fundamental truth hasn’t changed. Change is inevitable, I’m sure you are aware of it yourself… how fast things are changing these days. Just look at social media, just when you think you’ve got the hang of Facebook and Twitter, ...
Business Mentor Tip # 38 – Screw business as usual
March 1, 2012Posted by Laura Humphreys
Sir Richard’s lastest book is right on the money as usual. Love his and VirginUnite’s ‘business can be a force for good philosophy’. Check out http://virginunite.screwbusinessasusual.com/ to get on board with the new wave of business… led by the rebel with a cause himself. The world is needs business owners to change the way we look at business, ...
Business Mentor Tip #37 – Never give up!
February 29, 2012Posted by Laura Humphreys
http://youtu.be/kZlXWp6vFdE What more can I say? This video is an oldie but goody… makes me cry! The message is clear folks… it will get tough, but finish what you started and make it to the finish line.
Business Mentor Tip # 35 – Recognise effort, reward results…
February 28, 2012Posted by Laura Humphreys
Here’s a tip passed onto me by a client I was working with today, apparently originating with Chester Elton www.chesterelton.com – best selling author and renowned expert on leadership. I guess it speaks for itself, but here’s my interpretation of it: As a leader you have to be sure your people feel their efforts are being noticed ...
Business Mentor Tip # 34 – Don’t pray and spray your PR!
February 27, 2012Posted by Laura Humphreys
Here’s a top tip from one of New Zealand’s most savvy PR consultants, Bridgette Paton-Tapsell of Village PR and Marketing http://villagepr.co.nz/ : When you send your news releases to media, don’t be afraid to follow up the journalists with a phone call. Media get bombarded with media releases and sometimes even fantastic stories get shelved for ...
Business Mentor Tip # 33 – Become a deal maker
February 23, 2012Posted by Laura Humphreys
Here’s your mantra for 2012… “I am a deal maker, I will close the sale”. View yourself as a deal maker when you embark on any new business campaign. When you go to a meeting with a prospect, or client you know could spend more with you, think about doing a deal. This means finding ...
Business Mentoring Tip # 32 – Know your margin
February 21, 2012Posted by Laura Humphreys
It’s easy for small business owners to think sales/income is the key number you need to be focusing on. But actually the key figure is your Gross Profit figure (sales minus cost of sales) and your margin… the % difference between your income and your Gross Profit. You can have millions of dollars of sales ...
Business Mentoring Tip # 31 – Education is the key to success…
February 20, 2012Posted by Laura Humphreys
I’ve decided to start numbering my business mentoring tips to make sure I get to 100 before I stop. So here’s number tip number 31… If you know any very successful business people you may have observed something they all have in common… they all continue to educate themselves. I’ll bet you anything, Bill Gates reads ...
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 have a team of people around you. Rituals are the glue that ...
Business Mentor Tip – Try this formula for effective goal setting
February 9, 2012Posted by Laura Humphreys
Now is the time of year for goal setting. I’m a bit late this year… spent too much time on holiday (is there such a thing??). But every year I make sure I’ve got my goals clearly defined and most importantly, written down. There is something so powerful about putting your goals down in writing. I’m ...
Business mentor tip for 2012… Be clear on your purpose
January 16, 2012Posted by Laura Humphreys
Happy New Year to you! I’m still officially on holiday and will be until the end of January (since I promised myself a few years ago that I would set up my businesses and life to allow me to take a month off every January and every July). But I can’t resist checking in and ...
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 you’ve gained from not having time to go to the gym! ...
Daily Business Mentor Tip – It is not financial science
December 19, 2011Posted by Laura Humphreys
Anita Roddick has long since been one of my all time business heros (heroine in her case). I love this quote I found from her: “Nobody talks about entrepreneurship as survival, but that’s exactly what it is and what nurtures creative thinking. Running that first shop taught me business is not financial science; it’s about trading: ...
Daily Business Mentor Tip – Tomorrow is another day
December 19, 2011Posted by Laura Humphreys
Being a business owner can suck sometimes. The stress of being all things to all people, wanting everything to be perfect and feeling like you are the only one who can fix it all… this will make you feel like throwing it all in sometimes. There have been times in my business career when I ...
Daily 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 do this is to get talked about. And the best way ...
Daily Business Mentor tip – Zig while the others zag
December 13, 2011Posted by Laura Humphreys
What did Richard Branson do that worked for him? The key thing is that he did the opposite to whatever the big guys were doing. If they were over charging and under delivering, he found ways to reduce prices and improve experience. If they all seemed to be doing things the same way, with brand ...
Daily Business Mentor Tip – Create a wall of fame
December 7, 2011Posted by Laura Humphreys
I’d like to credit Mike Brunel for this tip. Mike lead the seminar on sales in the liber8yourbusiness online seminar programme. Director of NRS Media (www.nrsmedia.com) and founder of Talking Media Sales, the blog and website for media salespeople www.talkingmediasales.com Mike is a sales guru from way back. He’s also a great teacher. Here’s just one of the 17 ...
Daily Business Mentor Tip – Be willing to be wealthy
December 5, 2011Posted by Laura Humphreys
One thing that very successful business people have in common is that they’re wealth positive not money negative. By this I mean that they see wealth as a good thing and do not believe to have money is to be greedy. They are not frightened to build a business that makes them phenomenally wealthy. Are ...
Daily Business Mentor tip – Have a laugh!
December 4, 2011Posted by Laura Humphreys
I took an former colleague and long time friend with me to the Awards night last Friday. I met Julie Powell in the advertising world and like me she went on to build her own agency and just like me she sold it to the Ogilvy Group and is now helping businesses with her consulting work. ...
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 that businesses must be systemised and automate as much of the ...
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 Queen Bee and I think those are eggs in her head. ...
The ultimate business mentor – Buckminster Fuller
November 30, 2011Posted by Laura Humphreys
In another lifetime I studied at length with Robert Kiyosaki at his Global Leadership Forums. One person we studied at length was Buckminster “Bucky” Fuller. American philosopher, systems theorist, architect, and inventor, Bucky created and popularized terms such as “Spaceship Earth“, ephemeralization, and synergetics. For some reason I found myself googling Buckminster Fuller, wanting to ...
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 clients, which is usually about right… But I believe there is another ...
Daily small business mentoring tip – The fish rots from the head down!
November 26, 2011Posted by Laura Humphreys
Apparently it’s an old Sicilian saying, tied into Mafia Godfather culture – “The fish rots from the head down”. It’s application to business should be obvious. As the owner of your business you are responsible for the culture of your company. When you employ people they look to you for their example of behaviour. If ...
Daily small business mentoring tip – sell your butt off!
November 24, 2011Posted by Laura Humphreys
Here’s a generalised principle of life… if you are in business you have to be able to sell. You cannot avoid it. Simple business definition: Business is about making money by selling something you have to someone else who you can convince to buy it. It doesn’t matter how big the business is, or how sophisticated the product or ...
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 cost you money. You cannot be in business and get it ...
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 – 18 months out from today. Your 12 month plan should have ...
Daily small business mentoring tip – Get your ego out of the way
November 20, 2011Posted by Laura Humphreys
To build a business that is not dependent on you, you are most likely to have to build a team. Never believe that no-one can do your job as well as you. This is not the truth, only your ego talking.
Daily small business mentoring tip – plan backwards
November 19, 2011Posted by Laura Humphreys
Once you’ve put a clear vision in place for where your business is going and how it is going to feed you wealth in the future… plan backards from there using key milestones. What are the goals you need to hit along the way? Turnover goals, profit goals, client goals, staff goals… write down the ...
Daily small business mentoring tip – The power of brand
November 17, 2011Posted by Laura Humphreys
Your brand is one of the most critical factors when it comes to increasing the value of your business. Brand is a much misunderstood concept for many small business owner operators. It’s not a logo or a pretty business card. It is the essence of what your business stands for. And it is what someone ...
Daily small business mentoring tip – Your business needs a higher purpose
November 16, 2011Posted by Laura Humphreys
A business should have a higher purpose … to make a difference in the world as well as to make money. You only have to look at what Richard Branson does through Virgin Unite www.virginunite.com to see that social responsibility is critical in today’s business world. How is your business making a difference? From the desk of ...
Daily small business mentoring tip – Have a clearly defined wealth goal
November 14, 2011Posted by Laura Humphreys
Decide now what your wealth goal is from your business. Are you going to sell it? If so for how much and when? Are you going to derive passive income from it? If so how much per annum and when? Write it down. Then work out how you will get there (The liber8yourbusiness programme can ...
Daily small business mentoring tip – Harness the power of your budget
November 13, 2011Posted by Laura Humphreys
Your budget is your single most powerful monthly planning tool. Map your projections out for the year based on the profit you need to make, the turnover, cost of sales and expenses required to meet that profit goal. Have actuals and budget columns to measure yourself against each month. There is a whole seminar in the ...
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 re-invest that money elsewhere The liber8yourbusiness Online programme teaches how you to ...
Daily small business mentoring tip – Act like a big dog
November 12, 2011Posted by Laura Humphreys
Act like a big dog no matter what your size. Think like a Jack Russell… you can take on any dog, any time. You just need to be smarter and faster!
Daily small business mentoring tip – Your business is your primary wealth building tool
November 10, 2011Posted by Laura Humphreys
Your business is a primary wealth building tool. Make no mistake, you MUST build wealth from your business… and have a plan for this… how will it pay you back for all your hard work?
Daily small business mentoring tip – Start with the end in mind
November 8, 2011Posted by Laura Humphreys
Do you know where your business is going? Have you thought about how it will eventually pay you back for all your hard work? Or like so many small business owners are you working long hours, paying yourself too little, sacrificing holidays and time with your family with no long term goal in sight? Start with ...
Where there’s a need, there’s a great idea…
November 7, 2011Posted by Laura Humphreys
I met a very cool lady at a Venus Network meeting last week, and then saw her win an award at the Bright Ideas Gala evening in Wellington, then again in today’s Dominion Post: http://www.stuff.co.nz/dominion-post/business/5918966/Bright-Idea-winner-helps-heal-tattoos Gillian Parkinson is an aromatologist, using essential oils to treat all sorts of conditions. But unlike many owner operators with specialist talents, ...
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 many facets of his life and business career and always with ...
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 ones is such a trend these days (think Brangelina and the ...
How healthy is your Worry Factor?
September 26, 2011Posted by Laura Humphreys
I remember a conversation I had with my friend Melissa Clark Reynolds many years ago. She probably won’t even remember it. We were standing in the changing room of the local swimming pool centre at the time. Melissa had just sold her first business to Southern Cross and I was still mid way into the ...
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 can be tricky, especially if you have built a business ...
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 up idea. Five individuals are involved and they bought me in for a ...
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 a bit of a gun tennis player, or at least ...
Thou shalt not interrupt!
August 20, 2011Posted by Laura Humphreys
Reading Tim Ferriss The 4-Hour Work Week at the moment. Am about to adopt one piece of advice as of Monday. As Tim points out email is the greatest single interruption in the modern world. How many times have you sat down with your to do list for the day only to find its midday ...
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 listing it as a key ingredient for getting a premium ...
Plan 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.
7 things a business buyer will pay a premium for #5 – Clients
July 27, 2011Posted by Laura Humphreys
In the business world, clients mean money. Have no doubt, a buyer will pay a premium for what they perceive is more money. A buyer will look at your clients and ascertain the value of your business to them on the basis of the average spend and longevity of your clients. They will look to ...
7 things a business buyer will pay a premium for #4. Guaranteed income
July 10, 2011Posted by Laura Humphreys
If you are serious about selling your business, one of the goals you should have clearly marked in your business plan is ‘locked in’ forward revenues. This is money that is committed to the business for a reasonable period into the future. Of course a buyer will look at your track record and your turnover ...
7 things a business buyer will pay a premium for #3. Reputation
July 6, 2011Posted by Laura Humphreys
A buyer with money in their pocket will come to you when you have attracted their attention. You will need to be big enough and credible enough and they will have seen your business making waves in all the right pools for your industry. You are always a nobody until you are a somebody. So you ...
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 value to your marketplace and by default ...
7 things a business buyer will pay a premium for #1. A Powerful Brand
June 9, 2011Posted by Laura Humphreys
You can get the full version of my report on this subject at www.liber8yourbusiness.com. But here’s the first of my 7 tips for building a business a buyer will pay a premium for. # 1. Build a powerful brand. I am a mad believer in the power of a brand. One thing that can make you ...
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 on Jim… a long and stellar career I could go ...
Putting your man on the moon – a business mentoring tip from Space
May 24, 2011Posted by Laura Humphreys
One of my favourite business mentoring tips is to plan your business as if you were NASA planning to put a man on the moon. This is what I learned to do at the 1991 Accelerated Business School for Entrepreneurs with Robert Kiyosaki in Hawaii. The teacher was Blair Singer and the business planning technique ...
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 as ever to spend time with smart, passionate business women who ...
Business Mentoring workshop – Leaders get above the line!
April 29, 2011Posted by Laura Humphreys
I love it when I go to teach and discover something I can use in my own life or business. This happens to me all the time when I’m mentoring, speaking, or holding a workshop as I did in Palmerston North last Wednesday. It was a half day workshop on preparing an effective annual business plan. As ...
“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 Wellington flat to $700 million sale of Trademe. Mark Zuckerberg ...
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 blurted. “Lets face it if I can ...
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 from Matt’s 5 minute talk. As always with the disclaimer ...
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 businesses through to very successful exit (sale). It was a ...
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 ...
Have you done your business plan yet?
March 6, 2011Posted by Laura Humphreys
Crikey! Where has time gone? It’s March already and the end of the business financial year for most of us. I’ll be nagging my liber8yourbusiness clients about their business plan for 2011 – 12 year. As Winston Churchill famously said, “fail to plan and you plan to fail”. Your business plan is your compass, your ...
3 reasons to start your own business
February 1, 2011Posted by Laura Humphreys
Why do people get into business for themselves? When I present to business groups I often ask people why they decided to start a business. The answers are always the same. To be my own boss/to be free to choose how I work/I’m good at what I do… so why should I line someone else’s ...
Traits of the Rich & Free #10 – Desire to give back
January 8, 2011Posted by Laura Humphreys
Here’s the final of my 10 Traits of the Rich & Free (have a look under categories Traits of the Rich & Free if you want to see the other 9 again). This is my favourite trait and the one which I believe makes the fundamental difference between fly by night would be entrepreneurs, speculators ...
Traits of the Rich and Free #9 – Wealth Positive not Money Negative
December 13, 2010Posted by Laura Humphreys
Having a good relationship with money and believing in your right to be wealthy are critical factors for very successful entrepreneurs. Business is about wealth creation. It is about building an asset that will ultimately feed you passive income, either when you sell and are able to wisely invest the capital gained… or by building a ...
Definition of a successful business
November 24, 2010Posted by Laura Humphreys
How successful is your business really? Here’s my definition: A successful business is defined by the number of days forward it could survive without YOU working. Think about it. How can you increase this number? I’ll be blogging some tips soon.
Life’s too short to have bad clients…
September 6, 2010Posted by Laura Humphreys
Had another great Q&A Skype session with a small group of clients on Friday. It is very pleasurable to be able to facilitate business people in good healthy discussion about some of their business issues. This week the group talked at length with the owner of an accounting franchise who found herself with an unhelpful ...
Traits of the Rich & Free #8 – Willingness to fail
September 2, 2010Posted by Laura Humphreys
The world’s most successful people are failures! It’s true. You can bet your bottom dollar that any successful, wealthy business person you can think of has failed at something in a spectacular way. You cannot go through life without failing, unless of course you never try anything. In business you will fail in some way. ...
What is the purpose of an entrepreneur?
August 31, 2010Posted by Laura Humphreys
Lovely interview with Hans Schuitman of Shape Technology in DomPost today. The introduction of robotics to his technology company has increased productivity by 80% in 12 months. But rather than replacing human beings, robots have created a 15% increase in his 90 strong workforce. This is a 14 year old company that has embraced technology to ...
Traits of the Rich & Free #7 – Determination
August 13, 2010Posted by Laura Humphreys
There is no doubt that you have to be determined to succeed in business, or indeed in any field of endeavour. You have to believe in your ability to succeed and just keep on going. In previous traits we discussed the need to have a vision, goals, plan and the willingness to take action. In ...
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 ...
Traits of the Rich & Free#6 – Action
July 20, 2010Posted by Laura Humphreys
This trait speaks for itself. The world’s most successful people do not just have a vision, clear goals and a plan… they take action. Very successful people do not tend to have a problem getting up in the morning. They do not sit around waiting for fortune to land in their lap. They know that ...
Bill Gates demonstrates the meaning of financial freedom
June 8, 2010Posted by Laura Humphreys
It gave me great joy to read about Bill Gates today, giving an exclusive interview to James Quinn of The Telegraph about his committment to giving to the developing world. Mr Gates is the second richest man in the world with a fortune of US$53 billion. Having spent 30 years of his life building Microsoft, ...
Traits of the Rich & Free #2. Passion
June 5, 2010Posted by Laura Humphreys
As I talk to very successful business people, their traits continue to share a common thread. I listed the 10 traits they seem to share in a previous blog and promised to cover each one in turn. I’ve talked about ‘vision’ already. Now for Trait Number 2: Passion. The world’s most successful business people unsurprisingly ...
May 29, 2010Posted by Laura Humphreys
I went to see Debbie Allen speak a the National Speakers Association event last night in Wellington. A very impressive lady with some great tips to share. Not only is Debbie in the top 5% of motivational speakers, she has also bought and sold 7 businesses. This got my attention, a true entrepreneur living a ...
Traits of the Rich and Free
February 25, 2010Posted by Laura Humphreys
In my quest to find great role models for my liber8yourbusiness programme, I’ve found myself talking to all sorts of very successful business people lately. A number of things strike me. One is that successful people seem to be very generous with their time. People with more zeros in their bank balance than I’d care ...