The 2013 football season has drawn to a close – and what an eventful finale! Sir Alex Ferguson (more importantly Jamie Carragher) retiring, Mancini sacked and Wigan Athletic winning the FA Cup and then getting relegated all in the space of just over a week!

Yes I’m a big football fan and I just love how there’s always something to discuss and mull over. It really is a beautiful game.

But it’s not just the game I appreciate. It’s also the behind the scenes tactics. And as a fan of numbers, I’m always fascinated by the match stats and after game analysis – almost as much as what happens on the field.
 

There’s more in common than you realise between league tables and business reports

 
You can always tell an obsessed fan because of their passion for the stats. And as such they have a stronger understanding of the mechanics of the game than an occasional observer.

And it’s the same with business. If you don’t know your numbers, how can you really know how your business is performing? What’s more, how will you know what marketing works, which customers to focus on, what activity to stop etc?

In short, you can’t. Instead you’ll be operating blind and relying on guesswork and gut instinct. And whilst this approach will help you move forward to a point, your progress (and your potential profit) will be significantly limited.
 

Robust business reports are too important to procrastinate over

 
There would be uproar if a top-flight manager threw a team together and took potluck. Instead they put considerable thought into every decision – and they base it on the numbers.

What’s more, the football stats are used to measure success and performance. The wins, draws, losses and goal difference decides:

• Who lifts the trophy
• Who plays in Europe
• Whether teams performed better or worse than last season
• Who avoids relegation

 
And because this measurement system is so simple, even someone who isn’t football obsessed (if there are really people like that) can get a grasp on a team’s performance.
 

Business reports give your performance visibility and clarity

 
And you should embrace this practice for your business too.

But instead of measuring wins, draws, losses, goal difference, red and yellow cards, fouls etc. you need to pick your own KPIs.

As the most basic level you want to know your monthly sales, expenses and profits.

But, beyond that, there’s all manner of number crunching you can do. You need to pick the metrics that will help you determine what is and isn’t working so you can take informed decisions that increase sales, attract more leads and boost your conversion.

To give you some ideas, in my business I want to know:

 
1.   My average customer value:   So I know how much I can spend to secure a new customer.
 
2.   The number of sales I need to break-even:   It gives me a base target I need to reach each month.
 
3.   Conversion rates on my PPC campaigns:   I want to know what is and isn’t working so I can tweak where appropriate to maximise the return on my investment.
 
4.   How much profit individual products attract:   This applies more to Fings and drives decisions as to which products I invest my marketing budget in.
 
5.   How much each hour must be worth to generate my target income:   This number forces me to question everything I do and to ensure I’m making the most valuable use of my time.
 
And there’s another biggie which is super-relevant for service-based businesses. You also want to know how much time you spend on projects. That way you can ascertain whether a job has paid – or not.
 

SpinLessPlates can help…

 
I know a lot of business owners get caught up in the day-to-day drudge of running a business – they just never get the time for in-depth number crunching.

What’s more, if you’re not a business spreadsheet whizz it can be a pretty painful experience. After all, if you’re using Excel for business, you’ve probably discovered it isn’t the easiest tool for analytical work. And to create a business spreadsheet that enables you to crunch the numbers can take time and effort (and I’m sure you’ve got better things to do).

So if you’re looking for an easier solution, check out SpinLessPlates. It’s a complete business information system designed specifically for a B2B micro businesses like yours.

SpinLessPlates has the capability to make understanding your business numbers a breeze. With SpinLessPlates, you can generate in excess of 60 analytical reports at the touch of a button. Simply choose the report you want, enter the appropriate dates and hit “run report” and…

Ta da!! In seconds you’ll have the figures you need to assess:

• The number of quotes, sales, invoices you’ve created
• The value of outstanding invoices
• Time spent by project
• Sales by customer
• etc…

 
Here’s a screenshot to show you a business report example.

These are numbers worth talking about

 
With the football season closed I know I’ll miss the post-match analysis on Twitter.
Oh well, I guess I can always replace it with chats about business maths.

Who’s in?
 
 
P.S: If you’re ready to discover how SpinLessPlates is primed to transform how you manage your small business management, click here and enter promo code rep0513 to get 100% access to Spinlessplates for 3 months for £1.
 
 

I warn you. I’ve got a pretty hard line on this and so I’ll make my position clear from the outset.

If you’re using the likes of business spreadsheets in Excel or invoice templates in Microsoft Word to drive your back-end small business admin tasks then personally, I think you’re a little bonkers.

And it’s not just because thinking about MS Office makes me shudder, I have it on my computer, it’s because the whole set-up is highly inefficient for managing your quotes, invoices and other back-end tasks.

What’s more – you probably don’t even realise it because you’ve adapted your working practices around what you know – and after all it “does the job”.
 

But the truth is it doesn’t.

 
If you’re relying on Word and Excel for your invoicing, contact database, job book etc. Honestly, you are missing out on a stack on functionality that could significantly improve how you operate your business.

Firstly, I guarantee you’re wasting valuable time by pressing on with your business document templates.

And, secondly, your ability to manipulate, analyse and make decisions based on the data that you’re collecting is severely compromised. As such, you risk operating blind.

It means that without your knowledge, you’re actively undermining the potential your business has to grow and interact with your customers.

I think you can tell I’m pretty passionate and hot-headed about this stuff – so let me explain what I mean…
 

1.   It’s inefficient:

I’m not denying you can create beautiful and professional looking documents in Excel and Word. You can add your logo and contact details, use a formula to calculate price and even customise the fields just for you. In fact, I know that countless people rely on this software to create quotes, invoices and statements for their customers.

But here’s the problem:

You probably have to re-enter data each time you create something. Now I’m sure you have better things to do than copying and pasting the sales information you’ve stored in an email or amending dates, job numbers and invoice IDs. In fact, if it’s an accepted working practice, you probably excuse and even accept the time this repetition absorbs.

Alternatively, because it’s a boring job (and let’s be honest, there’s always something more interesting and valuable you could be doing in the 10 minutes it takes to prepare an invoice) you may even delay creating it – and that can wreak HAVOC with your cash flow.
 

2.   Mistakes are possible:

Next up is the possibility that you’ll make a mistake.

After all, each time you need to enter repetitive data you increase the likelihood of getting something wrong. For example, you could screw up the formula, sum the wrong columns, enter the wrong price, get the decimal point in the wrong place, use the wrong invoice number, even forget to change the address and contact details if you’re overwriting something.

And simple mistakes like these could have a detrimental impact on your customer relationships.
 

3.   You’re missing out on valuable information:

 
Now for the biggie.

Anyone who knows me knows I’m obsessed by my numbers. I track everything because I understand the importance and value this information provides. And I want to know all sorts of things such as:

• Who are my best customers?
• Which is my best performing product?
• Which service generates the most profit?
• How much time is that job really taking me?
• Where do my leads come from?

 
I’ve got a pretty long list of facts and figures that I need to understand. And I do this because my business maths drives my decision making. You see, if I know:

• Customer X is my best customer, I’ll invest more time nurturing that relationship and building loyalty.
• Product C is the most profitable, I’ll rework my marketing to generate more sales in that area.
• Which services run at a low margin, I’ll reassess how I provide that service to make it profitable.
• I’m underestimating my time, I’ll look at how I’m working to identify ways to be more productivity.

 
I think you get the picture…

Now I know that Excel has some analytical capability. BUT, you’ll need to manually work the data to pull out the stuff that’s really important.

And if you’re not a numbers whizz or if you lack the formulaic skills needed to embed the correct calculations, you’re more likely to only access the really easy numbers that are simple to calculate (such as your gross sales).
 

Your business dreams deserve more…

 
Now I get that when you started your micro business you probably didn’t give much thought to this stuff. In truth, you were more interested in finding customers and establishing your reputation than spending time on productivity and number crunching malarky.

But, now that your business is more established, perhaps you’re starting to:

• Feel that your business management system is far from robust.
• Get frustrated at the amount of time you’re wasting on quoting and invoicing.
• Feel uneasy that you really don’t know your numbers.

 
And that’s where SpinLessPlates can have such a HUGE impact.

You see, SpinLessPlates is small business management software built specifically for micro business owners just like you.

So if you’re still using Word and Excel to generate invoices and track sales, or you started squirming in your seat when you realised the grasp on your numbers is pretty loose, take a closer look. I promise you it works, but don’t take my word for it. Instead check out what other micro business owners have to say, and then take Spin for a three month test-drive for a £1 (see below to get 3 months for the price of 1).

Now you may feel reluctant to change your back-end system. After all, you imagine it’s a bit risky and it could turn into a time-consuming headache. What’s more, why fix what isn’t really broke?

Here’s what Spin convert Georgina El Morshdy has to say…

“Being a non-techy and huge fan of my paper notes and Excel spreadsheets I firmly thought I didn’t need a system like SpinLessPlates. But how wrong was I…”

So perhaps the real risk is not giving it a go…

But what do you think? Let me know below.

P.S: If you’re ready to discover how SpinLessPlates is primed to transform how you manage your small business management, click here and enter promo code mad0513 to get 100% access to Spinlessplates for 3 months for £1.

You can learn in less than 4 minutes, by simply listening to Nickelback’s Rockstar.

It’s a masterclass of how the right questions can focus your mind to uncover the truth of what you really want for your small business, and more importantly how you’re going to get there.

You can read the lyrics here, and you can listen in here.

And if you’re ready to dive right in, here’s what the smart musicians at Nickleback have to reveal…
 

Step 1 – Recognise the unease with your current situation

 
Rockstar’s opening line is a killer

  “I’m through with standin in the line…
  This life hasn’t turned out
  Quite the way I want it to be”.

Does that sound familiar?

Have you noticed how the stimulus for goal setting often comes from a dissatisfaction that you’re not where you want to be? So if you recognise that feeling, start by figuring out what’s getting you down? Is it:

• Annoyance with your micro turnover?
• Frustration that your price undervalues your skill?
• Dismay at your current work-life balance?

 
Whatever it is, get clear on the cause and then…
 

Step 2 – “Tell me what you want”

 
The next step is to know where you want to be. For Nickelback it’s “hey hey I wanna be a rockstar”.

What’s it for you? What do you want from your business? What’s your big why?

Perhaps it’s to:

• Turnover £3500 sales in sales each month by June
• Establish your authority with a published paperback by December
• Delight your kids with a first class trip to Disney next summer

 
Whatever your vision, you must think BIG. Create a goal that excites, inspires and motivates you. And make sure it’s compelling enough to see you jump out of bed in the morning, and not bat an eyelid at the hard core leg work needed to get there.
 

Step 3 – Tell me what you really want

 
Next look a little deeper at your goal. You’ll be far more committed if you understand what’s really driving you.

For example, Nickelback doesn’t really want to be a rockstar. He actually wants all the cool stuff and lifestyle he imagines a rockstar life would allow. For example:

  “I want a brand new house
  On an episode of Cribs
  And a bathroom I can play baseball in
  And a king size tub big enough
  For ten plus me”

What does your goal mean to you?

Perhaps the turnover would transform your way of life. Your paperback book would justify all your hard work, and the Disney trip could allow your family to enjoy an experience they’ll never forget.
 

Step 4 – “So what do you need?”

 
So you know what you want and why. But what resources and tools do you need to make your goal a reality?

Nickelback needs “a credit card that’s got no limit, and a big black jet with a bedroom in it”. But what about you? Do you need to:

• Learn new skills?
• Create a strategy to find and keep more customers?
• Use smarter working tools to get more done in less time?

 
You see, if you develop a clear strategy, with specific deadlines and a step-by-step action plan, you’re far more likely to successfully realise your goal. So don’t leave things to chance. Instead commit to the preparation work needed to make the goal achieving easy.
 

Step 5 – “Been there, done that”

 
And here’s a massive short-cut tip.

If you can identify someone who’s got the skills you need or who’s achieved a similar goal, find out how they did it. That way you can avoid the mistakes they made and swipe and deploy some of the tactics that helped them achieve that success. You could get where you need to be quicker, cheaper and with a lot less heartache!
 

Step 6 – Be prepared to make sacrifices

 
  “I’m gonna trade this life for fortune and fame
  I’d even cut my hair and change my name”

Now the road to a big goal is not always easy. You may need a change of identity. You may find yourself saying goodbye to the life you currently know. You may have to do things that are really tough and challenging.

In short your comfort zone will expand – and how much you allow it to will depend on where you’re heading and how much you really want to get there.

So be prepared. Big goal setting in business is not for the faint hearted. But the brave will be heavily rewarded.
 

So are you ready to be a business rockstar?

 
Get clear on your rockstar goals and re-charge your business so it’s closely aligned to helping you get where you want to be.

I’m in. Are you?
 
 

And one of my favourites is this cracker by Jim Rohn:

“Formal education will make you a living; self-education will make you a fortune”.

I think this quote is very relevant to anyone wanting to create a successful micro business. Here’s why…

Whilst I absolutely love running and developing SpinLessPlates (my micro business management software), I work to live. I don’t live to work.

Instead I’m crystal clear on my business WHY and it’s big enough to keep me super motivated, focused and determined to make my business goals happen. In short I want to ensure Isabella and Jemima have a great life – simple.

BUT in order to empower my business to achieve this goal, I need to keep learning. After all, what I learn is what I’ll earn. And whilst I do have a formal education, it’s just not enough to cut it in this fast-moving modern market place.
 

Which is why self-learning is so awesome

 
Self-education opens up so many doors. It can help you achieve all the below and more:

1.   Shortcut your way to success by learning quickly what does and doesn’t work
2.   Create your own unique curriculum by focusing on those aspects you want to develop
3.   Avoid being slowed down by someone else’s training agenda
4.   Pick and choose who you learn from
5.   Discover at your own pace and evolve into the “one to go to” in your niche
6.   Reduce stress by figuring out how to overcome the inevitable pressure points you’ll face
7.   Change your perception and be inspired to think bigger
8.   Raise the bar – if you don’t learn, you’ll only be restricted by what your current level of knowledge and experience allows you to believe

And with so many practical tools, resources and knowledge out there, it’s never been easier to learn your way to success.
 

Powerful strategies that make it easy for you to teach yourself

 
1.   Learn from the masters:

I LOVE reading books or listening to the audios of thought leaders. Some of my favourites include Jim Rohn, Dan Kennedy and Zig Ziglar. What’s more, this self-education strategy in unbelievably inexpensive and is flexible enough to be enjoyed whilst travelling. After all, how much does a book or CD cost on Amazon these days.

2.   Read blogs:

The Internet is awash with free, quality information to help your business grow. What’s more, because blogs tend to be short and condensed, you’ll learn lots in a short time. I like the Micro Business Hub as well as other techy type sites such as Hubspot, KissMetrics or Social Media Examiner.

3.   Ask others:

If you’re a micro business you simply can’t do everything yourself. For sure you’ll have core skills but your perspective and experience will broaden if you tap into the knowledge of those around you. So take heed of who you surround yourself with and actively mix with people who are more successful than you. As Jim Rohn so wisely said:

“You are the average of the five people you spend the most time with”.

Who do you want to become?

4.   Nigel Botterill’s Entrepreneur’s Circle:

In addition to learning new ideas and information to help my business grow, I’ve found the Entrepreneur’s Circle to be an invaluable resource for interacting with other business owners and getting ideas from them too. Awesome.

5.   Plan time to learn:

Plan learning time into your working day and stick to it. Make it a habit instead of something you do every now and again and you and your business will reap the rewards.
 

Learning is NOT enough, implementation is the missing link

 
In terms of business development, knowledge is useless unless you translate it into something tangible.

It’s just crazy to absorb new information and then do nothing with it. Instead, you need a plan of action to put your new knowledge into practice. Here’s how:

• Use your daily power hour to work ON your business. Don’t mistake busyness with productivity because this approach won’t help you grow. Instead plan activities that will drive your business forward. For example tweak your website, create a new product or service, explore smarter working practices, or even implement new processes to improve customer service or boost profitability. Where will your learning take you?
• Write to do lists. These are an absolute MUST to ensure you stay on top of your workload. Paper lists are OK but cloud-based software can be more flexible. For example, SpinLessPlates enables you to add tasks and set reminders to ensure you remain focused and on the ball.
• Finally think big and set yourself challenging goals. Don’t allow your own limits (or others’ doubts) to restrict your vision of what’s possible for you and your business. If you can dream it, you can realise it.

Over to you

 
What are your views on self-education? How has a drive to acquire more knowledge and information helped grow your micro business? Please let me know in the comments below.

Being great at what you do is simply NOT enough to cut it as a successful micro business owner.

In fact, you probably find the “technical aspects” of running your business relatively easy. It’s all the other stuff like marketing, planning and strategizing that makes micro business so darn challenging.

In fact, I think being an ambitious micro business owner is a constantly evolving journey. And I’ve found it can be helped or hindered by the people you choose to surround yourself by.

This Jim Rohn quote does a cracking job of explaining why:

“You are the average of the five people you spend the most time with”.

Let’s unpack this idea further…

Who are you allowing to influence your future success?

If you spend most of your time with people who:

• Are small thinkers
• Doubt and undermine your ambition
• Believe stuff isn’t possible

 
You’ll limit your comfort zone and find it more difficult to step up, be brave and implement the really hard stuff needed to achieve your goals.

In comparison, if you actively surround yourself with people who:

• Are super successful
• Stay optimistic, energetic and positive
• Think big and make stuff happen

 
Your perception of what’s possible will be stretched and you’ll find yourself inspired with a vision of just how amazing your business could become if you had no doubts…
 

Does your circle support your business dreams?

 
So you see, if you want to be successful in business, you need to take note of your influencers.

And here are five simple techniques you can use to ensure you’re surrounded by the right people…
 

1.   Know yourself

 
Being successful in business starts with you.

You need to know what makes you and what breaks you. For example, if you struggle with confidence, your goals will suffer if you stay around people who constantly tell you why you’ll fail.

Instead figure out the sorts of personalities and character traits that will complement and assist your growth. For example:

• Rubbish with “self-promotion” – hang around confident people
• Doubt your ideas – brainstorm with creatives
• Struggle with motivation – speak to serial implementers
• Thinking too small – cozy up with super successful business owners

 
You get the picture.
 

2.   Learn from the BIG thinkers

 
Here’s a really easy way to stay inspired and ramp up your own expectations for yourself and your business. Simply tap into the knowledge and experience of thought leaders. You could:

• Read books and blogs written by your industry specialists
• See inspiring entrepreneurs speak in public
• Listen to audios of change makers

 
For me, experts like Jim Rohn and Dan Kennedy make me rethink what’s possible, whilst their case studies reveal first hand accounts of stuff I’ve only imagined being achieved.

And then I remember… If it’s been done before, it can be done again – with improvements.
 

3.   Get your family behind you

 
Your immediate family are going to play a BIG role in your business and its future. I rely on:

• Michelle’s unquestioning belief in the potential of my business management software for the time and space to make it happen.
• Quiet, early morning walks with my dog help clear my mind and focus on the day ahead.
• My obsession with productive working to get quality time with my girls – even if my business brain stays alert for cool learning opportunities like this!

I think the key here is patience, understanding and communication.

It can be really hard for an employed partner to understand the stresses and strains of running your own business, especially when they see you doing stuff that isn’t directly billable during anti-social hours. So if you’re struggling with negative influence at home, be patient and work together to agree clear work-home boundaries. Also be careful what you share – especially if it’s a fresh idea that could be vulnerable to a doubting ear!
 

4.   Join a Mastermind group

 
Nothing beats being around passionate, ambitious business owners with a shared vision for super success. I find my monthly Mastermind group led by Nigel Botterill uplifting, motivating and inspiring. I get quality insights about my ideas, honest feedback on my business and as a result the vision I have for myself just keeps expanding.

Mastermind groups can be a fantastic investment. And if you can’t find one suitable, consider creating your own.
 

5.   Cull the people who sap your energy

 
OK I know this is easier said than done. But if the potential of your business is being suffocated by well-meaning friends and family who just “don’t get it”, you’ve seriously got to invest your time elsewhere.

And whilst it can be painful to say goodbye, it doesn’t mean you have to shut people off completely. Instead be more guarded with what you share or simply reduce their access to you.

And instead fill your time with those people who will challenge you, nurture your creativity and help you make all that amazing stuff you dream about actually happen.

But what do you think?

Are there people in your network who you know are damaging your potential? What tips and techniques can you share for surrounding yourself with the right influence? Please let me know in the comments below.