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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 ...
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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 ...
Continue readingThe 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 ...
Continue readingThe 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 readingThe 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 ...
Continue readingHow 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 ...
Continue reading8 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 ...
Continue reading8 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 ...
Continue reading8 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 ...
Continue reading8 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 ...
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 reading8 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 ...
Continue readingThe 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 ...
Continue reading8 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 ...
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 readingThe 2 critical factors to business growth that no one else talks about…
March 27, 2015Posted by Laura Humphreys
In recent months my business partner, Mike Brunel*, and I have been helping a number of small business owners overcome their blocks to business growth. And as we dig deeper ...
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 reading6 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 ...
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 readingAre 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 ...
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 readingThere are only two reasons to be in business. Do you know what they are?
February 21, 2014Posted by Laura Humphreys
According to Dun & Bradstreet* reports, “Businesses with fewer than 20 employees have a 37% chance of surviving four years and only a 9% chance of surviving 10 years.” I believe that the primary cause of these staggering ...
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 readingIf 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 ...
Continue readingThe 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 ...
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 readingDo 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 ...
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 readingWhat 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 ...
Continue readingWhy 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 ...
Continue readingWhich is more important… delivery or sales? Should you be in doing or out selling? Learn the 5 steps to the ‘The In-Out Dance” here…
November 7, 2013Posted by Laura Humphreys
As a small business owner you’ll be familiar with ‘The In-out Dance’ I’m sure. It goes like this. You are busy in the business, delivering your service or product, working hard, working hard. There’s too much to do and you need help. So ...
Continue readingCan describe your business in one word? Take the challenge here…
October 25, 2013Posted by Laura Humphreys
Here’s an interesting question: What’s the one word that sums up what you and your business are all about?A client asked me this question why we were working together yesterday. I had to pause for a moment. But only for a moment mind you. ...
Continue readingHow to impress the world in 5 minutes… getting clear on your business ‘platform’
October 15, 2013Posted by Laura Humphreys
“What is your platform?”This is the question I’ve been asking my small business clients recently. But what do I mean?
Here’s an imaginary scenario to help explain:
Imagine you are on a plane with 20 other business owners in the same industry as you, selling products ...
Continue readingAre 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 ...
Continue readingWhy do small businesses fail?
June 16, 2013Posted by Laura Humphreys
According to a Dun & Bradstreet* study, ‘businesses with fewer than 20 employees have only a 37% chance of surviving four years (of business) and only a 9% chance of surviving 10 years.’ Restaurants have only a 20% chance of surviving two ...
Continue readingThe 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 ...
Continue readingWhy I invested $24,000 per annum in external advice in my second year of business… and how it paid off.
May 20, 2013Posted by Laura Humphreys
Business owners listen up. I’m going to make a point I believe PASSIONATELY in. I’m going to share with you the one decision I made early on in business that ensured my success.The business was my advertising agency, Red Rocks. The decision was to ...
Continue readingWhat’s the one question every business owner should ask to decrease owner dependency and increase value?
May 13, 2013Posted by Laura Humphreys
When I interviewed 2012 Young Entrepreneur of the Year Sam Hazledene, I asked him about his strategy for growth. This is the guy who built the largest medical recruitment company in Australasia from scratch in a few short years. He told me that ...
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 readingBusiness 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 ...
Continue readingA 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 ...
Continue readingWhy bother with a company vision? If you’ve ever wondered why you need one or how to go about making one… read on!
April 9, 2013Posted by Laura Humphreys
Here’s an excerpt from The Liber8 Factor manuscript (book launching in 4 months time) about the importance of having a company vision. Let me know what you think…
A vision is a common purpose, a reason for being.
For the most practical minded amongst us, a company vision may seem a woolly, ‘pie in sky’ kind of ...
Continue readingSuccess 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 ...
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 readingBusiness Mentor tip #84 – Be wealth positive not money negative
November 6, 2012Posted by Laura Humphreys
By now you’ll be familiar with my belief that the purpose of a business is to create financially freedom for it’s owner. Of course, you can’t be financially free without money. For most of us, we can’t live the life of ...
Continue readingBusiness 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 ...
Continue readingBusiness 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 BrunelWith 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 ...
Continue readingBusiness 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 ...
Continue readingThe 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 ...
Continue readingBusiness 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 ...
Continue readingBusiness 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 ...
Continue readingBusiness 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. ...
Continue readingBusiness 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 ...
Continue readingAn 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. ...
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 #73 – If you build it will they come? @drrobadams
July 17, 2012Posted by Laura Humphreys
“If you build it will they come?” is the title of a new book by Rob Adams. I attended a workshop taken by Rob last week and was impressed enough to make it my next business mentor tip. Forgive me Rob if my interpretation ...
Continue readingBusiness 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 ...
Continue readingBusiness 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 ...
Continue reading10 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 ...
Continue readingBusiness 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 ...
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 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 ...
Continue readingWhat 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 ...
Continue readingBusiness 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 ...
Continue readingBusiness Mentoring Tip #62 – What’s your unique point of difference?
May 17, 2012Posted by Laura Humphreys
In the advertising industry when we developed a strategy or advertising plan for our clients, we would start by understanding the client’s ‘Unique Selling Proposition’ or their USP. This is jargon speak for working out what the clear point of difference the product or ...
Continue readingIf 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 ...
Continue readingBusiness 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 ...
Continue readingBusiness 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 ...
Continue readingMGP 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 ...
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 readingBusiness 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? ...
Continue readingGuest Blog – How to get 2000 Facebook likes in less than 12 months
April 25, 2012Posted by Laura Humphreys
By Jody Worsfold, Chief Cupid, Romantic GesturesI 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 ...
Continue readingBusiness 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, ...
Continue readingBusiness 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 ...
Continue readingBusiness 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 ...
Continue readingBusiness 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 ...
Continue readingBusiness Mentoring Tip #45 – Budget from the bottom up
March 15, 2012Posted by Laura Humphreys
It’s budget time! If you haven’t already set your budget for 2013/14 year… now’s the time. There is an entire seminar in the liber8yourbusiness programme to walk you though the best way to do this. Here are the key steps:Decide what profit you want/need ...
Continue readingBusiness 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 ...
Continue readingBusiness 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 ...
Continue readingBusiness 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 ...
Continue readingBusiness 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 ...
Continue readingDaily 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 ...
Continue readingDaily 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 ...
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 readingDaily 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 – ...
Continue readingThis could be very funny… if it wasn’t so sadly close to reality…
November 21, 2011Posted by Laura Humphreys
Here’s an email that’s circulating at the moment. Just had to share it…The ANT AND THE GRASSHOPPER FABLE
This one is a little different – in fact two different versions …..as there seems to be different morals in New Zealand these days!
OLD VERSION:
The ant works ...
Continue readingDaily 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? ...
Continue readingDaily 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 ...
Continue readingDaily 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?
Continue readingWhere 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-tattoosGillian Parkinson is an aromatologist, using essential oils to treat ...
Continue readingBusiness 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 ...
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 readingSexy 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 ...
Continue readingWomentrepreneurs… 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 ...
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 readingFlying 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 ...
Continue readingGame, 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 ...
Continue reading7 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 ...
Continue reading7 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 ...
Continue readingWhere do business mentors get inspiration? Her Business Conference Wellington
June 30, 2011Posted by Laura Humphreys
I’m shattered after two days at the Her Business Conference in Wellington over the past 2 days. Partly due to the extra wine or two consumed at the Awards night last night (well done to Cilla Heggarty who took out the big title of Business ...
Continue reading7 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 ...
Continue reading7 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 ...
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 readingPutting 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 ...
Continue readingBusiness 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 ...
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 readingHave 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 ...
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 readingWhat 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 ...
Continue readingTraits 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 ...
Continue readingTurn 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 ...
Continue readingNew Zealand’s next gazillionaire
December 7, 2010Posted by Laura Humphreys
Just came across this competition from ASB Bank,looking for New Zealand’s youngest, cleverest business brain. It’s for kids aged between 7 and 14 who have a great moneymaking idea or invention – like a BMX lawnmower, or solar-powered cat clippers . To enter kids have to enter a 60 second video and could win a share of ...
Continue readingYour 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 ...
Continue readingLife’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 ...
Continue readingWhat 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 ...
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 readingTurn 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 ...
Continue readingLiber8tv 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 ...
Continue readingTraits 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 ...
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 readingBusiness growth stages – a napkin perspective
July 1, 2010Posted by Laura Humphreys
I’m having the most exciting conversations with inspiring and accomplished business people these days. Since launching liber8yourbusiness and beginning my quest to find business role models who are happy to share their knowledge with my clients, I feel like I’m on ...
Continue readingTraits 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 ...
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 readingTraits 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 ...
Continue readingTraits 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 ...
Continue readingHusbands 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 ...
Continue readingTraits 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 ...
Continue readingTraits 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 ...
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