The Power of Foresight

Something that I learned about myself is that I am really good at foreseeing the details in a path I want to take. Over the next few weeks I will be rolling out 3 new programs, including The Power of Leadership 20-week business growth program. For many people, creating and implementing one program would be overwhelming. I’m not saying there is not a lot of work to do, but there is a process that works really well for me that I want to share with you.

There are three things that are really important in creating a new service for your clients:

  1. You must see the path and the final outcome clearly.
  2. You must be able to foresee the details it will take to get you there.
  3. You must be committed to doing what it takes at the right time to get it done.

Plan, prepare, execute, and repeat are the steps I take over and over to ensure that each new program runs as smoothly for its maiden launch as it will when it is several weeks, months, or years old.

1. Know the Outcome

You must see the path and the final outcome clearly. To create my Power of Leadership program I first had to know how long I wanted the program to be and what I expected the outcome or benefit to be for the client that goes through the program.

Now write it down

For me it is:

  • 20 weeks,
  • be able to see where they are,
  • what they really want from their business,
  • what has to change and how to start making the necessary changes

Now start thinking about what has to happen to ensure this outcome is met.

For my program:

  • I have to teach
  • I have to listen
  • I have to respond

So I had to create something that gave the required time to teach content, listen to my clients’ needs and respond with my insight.

2. Foresee the Details

Now you know what you have to build and what you need to do to make it have the outcome you desire for your clients. Next, fill in the details of how you will deliver your product. To do this you must first understand exactly where you are on your map to your goal.

Credit for image given to http://www.flickr.com/photos/joelogon/

What do you need?

  • Are you right at the beginning?
  • Do you need skills training?
  • Do you need resources?
  • Do you need infrastructure?

Start brainstorming a list of things you think you might need to create and deliver your product.

I needed:

  • website
  • contact management system
  • conference line
  • a way to deliver recordings
  • a calendar

Once you have all the resources and infrastructure in place you are now good to start with the steps.

Plan the steps

With a clear image of what I have, where I am, and what I want to create I start creating the path that will get me there. This is not easy for everyone to do, so if you cannot see the steps you need to take, ask someone with experience to brainstorm with you or hire a business strategist to walk through it with you.

I like to start at the beginning and picture myself as a client. I start asking questions. If you know your clients you will know what types of questions they will ask. Answering these questions will give you some of your required details.

Here are some of my questions:

  1. What do I have to do to get to my program?
  2. What are the dates and times for my training?
  3. How do I get my coaching calls?
  4. Where do I find the other 20 hours of expert calls?
  5. Do I need to bring anything?
  6. When is the 2-day event?

These are the answers generated by some of the questions and the systems it created in my business.

  • The autoresponder for the program needed to include information on the program dates and the dial-in information.
    • This was created for the sales page.
  • I needed a procedure to ensure people in the program were emailed with reminders for their event dates
    • This started with me booking all the dates for the program in my personal calendar
    • Then I created a written procedure for my VA to manage the email contacts for those specific dates
  • I needed a procedure to keep track of people’s individual call usage
    • This created a checklist and a filing program
  • I needed content for the training that would take people through the desired transformation
    • This helped me create a 10-step program
    • It also lead me to invite some specific experts for certain topics

Knowing how to answer the questions your clients will have will give you insight into the details of your product.

3. Do whatever it takes!

If you are a person that works well under pressure then you have to make some changes to your working habits to ensure you are not doing all the work in the last few days or ‘on-the-fly’. This type of creation takes time and planning so plan on doing some of it over a longer period of time. As you may have noted, I have other people that must also help with the implementation. My web person looks after the autoresponders and the sales page links, my VA does the client communications, and I have experts I have to book for specific dates.

Working with other people on your team cannot be done only on your time and never in a rush. If you are saying, “I don’t have anyone on my team right now” then my advice to you is build your business as if you have a team of people you work with, so when you get to that time when you do have someone else to help you grow your business you will already have the best work habits to help you grow your team as well.

Now you know my secret to the Power of Foresight. Go and create something amazing!

3 Reasons Why Great Business Owners Can Run More Than One Business

Look at Richard Branson. He has more than 300 businesses and even if he only put in 30 minutes a day on each business he would have to work 150 hours a week – IMPOSSIBLE! So why is it so hard for the average business owner to find the time to run one business, grow that business, and still have time for their family? Here is my insight into the things I see successful business owners doing that the average business owner do not.

1. Ask Why Not

When someone tells them, it cannot be done they ask “Why Not”.  If there is a challenge or obstacle in the way of their goal they are more likely to start asking the questions that will give them solutions instead of stating reasons why they cannot do it.

One of the biggest challenges for the small business owner is not having enough time to do something new. I hear the excuse, “I just don’t have time” so often it is discouraging for me to listen. I’m not suggesting that people are lying and they do have time, but instead of stating their obstacle I would love to hear the question, “how could I make that work?” or “what would that look like with everything I am doing right now?”. Getting into the habit of looking for solutions before you discard the idea is how you find opportunities you would not have otherwise found.

2. Great Teams

Even when great business owners were starting out the most successful did not do everything themselves. It does not mean that you have to hire 7 people to work in your business, but it also doesn’t mean that you build a business that does not have a way to hire the people you need. You have to create a business plan that envisions the growth you expect to see and build your systems for that size of business. You also need to know exactly which role in the business will be yours to hold on to.

When it comes time to grow and you find yourself saying things like, “It is just easier if I do it myself” then you are sabotaging your chance to move forward. It is easier to do it yourself at first, but, like raising children, if you don’t teach them what is important and the fundamentals of what needs to get done then you will never have a team that will function for your business. Take the time to bring them up to speed and then take the time off when they are.

3. Grounded Lifestyle

The people I know that run successful businesses are like everyone else. They have family and obligations, they have happy times and sad times, and they work hard to make sure they can give the most of themselves to their families. The difference is that they are doing the things they want with their free time right now, not as a wish for the future, after their business has grown.

If you find yourself saying things like, “I’m going to take my kids to Disney World when my business is more stable” then you may be wishing away your ‘today’. Get grounded in your lifestyle and do what you can right now to live the life you are building for your family in the future. If you are always looking to the future for your next, best event or opportunity then you will likely walk right past all the amazing things that are happening around you right now.

So replace these three statements:

  1. I just don’t have time…
  2. It is just easier if I do it myself.
  3. I’m going to take my kids to Disney World when my business is more stable.

With these three statements:

  1. What would that look like with everything I am doing right now?
  2. I am going to take the time to bring them up to speed and then take the time off.
  3. I’m spending the weekend with my husband and kids so contact me on Monday.

And see if you start having more opportunities to create more in your business.

Why You Don’t Have Any Time

Have you ever said, “I can’t do that I just don’t have time?” That may be true sometimes but if you find yourself saying this to every opportunity that comes your way then you, like many business owners, have fallen victim to your business. We start a business so we can become more prosperous, not so our business can take over our lives. If you have lost your lifestyle and your free time to your business then you need to start implementing some systems and strategies to make your business work harder for you.

I want to share with you three reasons I hear my clients talk about when they say they don’t have any time.

1. Stuck in a Rut

Ruts in the slush on the road create driving hazardsWhen we build a business we start by implementing what we know. When it works we keep it. The challenge is that as the economy, industry, world market, your client’s buying habits, and you change over time so should your business. Many business owners are still doing business the way they set it up in the beginning.

If you have not made any changes since you started your business you should start now. I’m not talking 10 years down the road, I’m talking about constantly evaluating change in your market and making small tweaks to your business. The business owner that is on top of change is more likely to be ahead of their competition and ready for the things their clients will want or need.

2. Dream Big without a Clear Plan

My clients are high-achievers with big ideas. Unfortunately a dream is only realistic when there is a plan, the research is done, and there is a clear understanding of market and the client.

I have a client that wants an eCommerce site. They have been dreaming of this for over a year and it always seems like something that is about to happen, but it never gets started. Why? Because when they look at all the parts without having a plan it feels absolutely overwhelming and too expensive.

Take a look as some of these components that they want to put in place for their business:

  • Need a website that can manage a shopping cart
  • Need a VA (Virtual Assistant)
  • Need a merchant account
  • Need a finished product to sell
  • Need to know What to order / What the client needs / What market to advertise to
  • Need marketing copy for all aspects of this

Each piece on its own is time-consuming and can be very costly, but if they had started a year ago implementing individual pieces, using free components until they were making more money, and only hiring people when it could save them time and money, then they would have their ecommerce site finished and generating money for their business.

Knowing what is required now and what can wait is the key. Having a plan you can follow will make it happen quicker. You can use affirmations all day if you want, but I recommend you follow up with a business plan and take action now to make it happen.

3. Undervalued Time and Products

This is a chronic issue with passionate business owners, especially those in the wellness industries, where their hearts are so big and ‘giving’ is a key personality trait. It is sometimes hard to just ask for the money. But I want to tell you that if you are not charging what you are worth then you are not doing anyone a favour. Let me explain why.

When you undercharge you cause two things to happen. People that do not value your skills jump in to take advantage of the low rates. You will be working with people that will likely not be your ideal client. The second thing that will happen as a result is you will eventually feel undervalued and you may become jaded. Working hard at your calling without pay is working on a hobby. You must get paid enough that you can not only cover your costs but you can make a profit. The next step is to increase your price as you become an expert.

My hair dressers start off as junior stylist and charge about $30-$35 / hour. Over the years their price increase as their skill increases, and I’m OK with that. They have worked hard and deserve to be seen and paid as the expert they are. You should too.

Remember:

  1. If you lose your passion for your calling you will go out of business.
  2. If you go out of business you cannot help the people that really need your services.

If you believe in your skill and your product, charge what it is worth so you can be around when your clients really need you.

Getting What You Need From Networking

If you think networking is one-size-fits-all you would be wrong. All networking can be successful but not for the same reasons and not for all people. When evaluating networking I look for three key things: Family, Focus, & Fit.

Family

Family is what I feel is the most important. The key is, do you feel comfortable in the presence of these people? Are you welcomed, do you like them, will you be happy to be in this location with these people several times a month for years? Does the location feel like a place you would feel comfortable bringing your clients? It’s like choosing a home. You are going to spend a lot of time and money to work this networking group so you had better be sure these are the people you want to spend your time with.

Focus

Is this group focused on generating business to the same level you are? What is the focus of the group and what do you expect to get out of being with the group. In my first networking group I was focused on becoming a more confident, credible business owner. I surrounded myself with long-time, successful business owners and I got exactly what I was focused on. When I changed my focus to reaching a global market I had to change my networking group.

Fit

Does you networking group fit your needs? I have a great tool that I use to evaluate a lot of different types of decisions. When I was young and looking for a job I went to the HRSDC for resume training. The counselor took me through an evaluation and I have used it for every large decision I make, like going into business for myself. Let me share it with you for networking.

1. Start by listing your values

Make a list of the values that are so important to your life and your business that they must be the things that are not adversely affected by a bad choice. For networking I have these six values listed.

  • It cannot significantly affect my time with my children
  • Low travel time
  • Must be able to connect with my target market
  • Must be filled with business focused people
  • They must have access to a global community
  • I must have opportunities to speak to my target market through the network

2. List Your Networking Choices

Create a list of all the options you have available to you. Reduce the list to the three or four you really like. For my example I have Choice A, B, & C. I have put some of the details of these three choices for you to understand the outcome.

3. Create an Evaluation Matrix

I know it sounds ominous but it is really easy. Put your values across the top and your top 3 choices down the side. Now evaluate your selection based on how it affects your values. I used a scale of 0-4 where 0 is the worst choice of the three and 3 is the best choice of the three. A value of 4 was beyond my expectations.

Evaluation of Networking Matrix

Note that Choice B, even though it requires much more travel time, rates almost twice as high as Choice A and almost 3 times as high as Choice C. I now have a scale that tells me how aligned with my target values a networking group choice will be. This is really important if you don’t want to spend years trying to work a group that is just not in line with your needs.

If you want networking to help create business for you through successful marketing then you have to choose wisely. Find the family, know theirs and your focus, and make sure it is the right fit for your values. This way you will be more engaged to create the income you need in your business and you will enjoy doing it.

 

Top Success-Limiting Factors

Working with business owners I have had a lot of opportunity to witness factors that limit a hard-working, focused visionary from being successful. As a business owner I know that we don’t often see this in ourselves so I’d like to give you one of the questions I give in my Progression Assessment and then I will give you the three factors I regularly see in my clients responses.

Answer this Question

What factors limit your success? (Include internal and external factors such as your own skills or industry requirements) Create a list and make it as long as it needs to be.

Not all limiting factors are in our control, but the top three I see that are in our control are:

  1. Fear of Success
  2. Fear of Failure
  3. Unable to Relinquish Control

Fear of Success

This may seem counter-intuitive but it is very common. The biggest issue here is being thought of as a fraud. Many people, including myself, gain a huge portion of their expertise through experience, not formal education. Somehow our society has come to believe you can only claim to be an expert if you have letter after your name. That is not the only way. After several years of training, informal education, reading and working with business owners, along with unrelated formal education, I know I have insight and knowledge I could not have gained in a targeted traditional post-secondary program.

If you want to be successful then you have to live the success before you become successful. You need to believe it before anyone else will, and that includes your expertise.

Fear of Failure

No one likes to hear the word ‘No’. We all know in sales that the challenge is we will likely hear many more no’s then yes’s. The question is, how do we create an aura of success before we are successful and how do we recover from our rejections?

Surround yourself with peers that are at or just ahead of your success. You need people you can brainstorm with, share your challenges and your successes with, and create a team of people that will hold you accountable to reach the goals you set for yourself. Making it through failure is not a one-person job.

Unable to Relinquish Control

This one is quite easy for another person to see in you. When you complain about not being able to get things completed because of how much you have to do, ask yourself, “Who else could be doing this?” If you answered, “nobody” then you are likely delusional. There are very few jobs in the world that only one person can do. Even Oprah can get someone to fill in for her on the show named after her.

First, picture how  you see your company running in the future and then ask yourself this question every time you go to do any activity in your business: Is this a ‘me always job’ or a ‘me right now job’? If you are like Oprah and have your product rely on your namesake then you will have to have your face available to sell the product. But, like Michael E. Gerber or Jack Canfield, their coaching programs are sold based on their expertise, but out of the thousands of people that pay for their programs only a handful of people get one-to-one time with these experts.

Do you picture a business that can continue to grow? If so you have to narrow your ‘me always’ jobs to just one or two and start weaning yourself off of the “me right now” jobs.

Overcome these three limiting believes and you can start soaring in the growth of your business.

When I have No Money How Do I…

It is a challenge to run a business and grow a business when there is not a lot of profit to go around. It makes it easy to have excuses for the things that have to be done in your business but don’t feel like a priority. If you find yourself saying things like:

  • I can’t go to that training
  • I cannot afford to get coaching or mentoring support
  • I don’t have the money to put pay for an ad
  • That networking is too expensive

Then I want you to just take note of what the value and priority is for you and your business and put it through this test.

1. Does it Make You Money Right Now?

Not everything that you throw money at will make you money. When times are tough then you have to look at everything for if it will make you money right now.

When I started networking 9 years ago I did it to build credibility and to increase my business prowess. I knew in the long run it was going to create value and clients for my business but I also knew that this focus was not going to make me money right now.

The challenge with this is that you still “MUST” market your business in some way. Just because it costs you money, and you don’t have it, does not mean you cannot continue to connect with your potential clients.

2. Do You Have A Plan?

If you decide that paying for training or a magazine ad will have a return for your business then don’t just jump in and pay, make a plan.

Call to Action

  • Decide how long it will take for you to make money back on your investment. Keep it short term.
  • Decide what else you will need to ensure that you can manage the project (people support, time, additional resources, or more contacts, etc.).).
  • Do the research to see the past success of what you are investing in. If you are an optometrist and having a direct connection to the oral surgeons will immediately get you more clients because 2-3 clients a month need this support, then start networking with the surgeons and advertise your connection for additional client attraction.
  • What is your call-to-action? Be very clear in your plan as to what you expect to create with this investment and ensure you have a call-to-action for your potential clients to take advantage. You cannot make more money if you don’t invite more people to purchase from you.

3. Do You Have Time to Implement and Make the Changes?

Whether you are taking an industry upgrade course to stay certified, working with a business coach, investing in social media, or attending a new association monthly meeting, YOU and your time will be the payment. Are you going to have the time needed to really invest at a level that will create strong relationships and encourage people to purchase from you now?

Sometimes it’s not the money that stops business owners from doing what has to be done, it is often the time. Remember, if you are working on your client projects and you have no time to do the marketing required to grow your business, when you are finished with your client you will have no money. This is not the mindset of an entrepreneur. Step bravely into your entrepreneurship and look for the solutions that will continually help your business grow.

 

The 1-2-3 to Adding a New Product

  • My client expect me to provide X
  • I only have one product to sell
  • I’m only a service company

These are some of the excuses I hear when talking to people about growing their market by increasing the product line. Adding to the number of products you have to sell does not mean you have to invent an entirely new product. There will be some work, but it is not like building your company around your first product. Here are three steps to finding the next product in your company.

NOTE – when I say product I mean either a physical product or a service your company offers.

1. Look for Repetition

If there is something you do over and over for your clients then create a product out of that process. Knowing how to get something done in a certain way is valuable. You are the expert at this process so cash in on that.

Example – A recruiting company I have worked with helps employees to create resumes as a service for their clients (the companies that are hiring). There is a lot of repetition and a lot of free support that is not seen as valuable by the employee.

Product – Offer basic resume writing and one free update and then charge for executive resume packages or additional updates.

This will cut back on the number of people that will take advantage of your free work that has no perceived dollar value to them and it will attract people that see the value of what you do as a credible expert.

2. Add Value

This is like the “supersize” mindset of the food industry or up-selling at the cash register. You can add on extras to your current product creating packages, and charge a little less than if the pieces were purchased separately.

Product – If you have a training program you can add free workbooks, an additional day of training later in the year, online support, etc.

The savings to you is more inventory turnover and less time required in the sales process.  The best items to add are those items with a higher perceived value by your clients and a lower cost to you.

Caution – If you are going to add some of your time, which is your highest cost item (because it is a fixed commodity and you cannot get more) give it out sparingly and leverage it any way you can. It is worth everything to you.

3. Change the Delivery

Sometimes the delivery of your product is in person. If you change how your clients interact with you then you can more easily leverage your time.

Example – A client of mine delivers training and facilitation to municipalities. He is challenged to be at all his clients’ sites for all their projects.

Product – Create an intake video and workbook that starts off every type of training so that his clients all get some training from him or add a video conferencing Q&A session at the end of training so they can actually interact with him. He does not have to be onsite but he is adding his expertise to the product delivery.

Don’t let your idea of what your product should look like stop you from trying new ideas, increasing your value, and selling more. There are endless ways to create new offerings in your business. Start looking at what your competitors and what other companies are doing to get some great ideas, and then tweak it to fit your business model.

Ways to Increase Your Marketing Effectiveness

Many people I work with say to me, “I need to make more money and I know I have to do more marketing”. What I find after we talk for a bit is that it is not their current campaigns that are not hitting the mark, it is the language around who they are trying to reach. Often they are doing a lot of marketing, just not effectively.

To have effective reach with your marketing you need three things to start a great sales conversation.

1. A Focused Target Market

If you niche your market it does not mean you can never sell to anyone outside this market. What it means is that you are building a marketing campaign to speak to a specific group of people. You want to really connect with them. You want to know they are listening when you speak. You want them to say, ‘that’s for me!”

If your marketing language is generalized to speak to everyone then it will not attract the people you actually want as customers.

  • Darren Hardy speaks a language that attracts entrepreneurs that are growing and achieving big things (or hoping to).
  • Dr. Oz attracts boomers and Gen X that are interested in a healthy, successful lifestyle.
  • Apple focuses on technology dependent, youthful, and creative Gen Y

These brands all sell to many other markets outside their target, mainly because those people resonate with the language used to connect with the chosen target.

Know your target market well before you start creating the language around your marketing.

2. Know to Whom You Are Talking

Make an avatar of your best client. This avatar may represent the best things you love about all your best clients. You should know everything about this made-up person, like their demographics (age, sex, married status, children, home size, income, etc.). Other things you should know: where they hang out, what they read, where they go on vacation, what they do for hobbies, and what they do with their kids, etc.

Use this avatar as a model of whom you are talking to when you create copy for your marketing. It becomes a conversation with that person, the one you would like to attract into your business most.

3. Something to Sell

Unless your business has a catalog to sell multiple products, it is best to go into a sales conversation with a focus on one thing to sell. I’m not referring to a single item, but a focus of sales for your business. If you are a coach, it may be your coaching program. If you are a recruiter, it may be HR support. If you are in catering it may be weddings. Even if you do have a catalog business it will still have a focus of kitchenware, jewelry, or skin products, etc.

You need to have a focus for your conversation for when your potential clients are ready. If you start by rhyming off all the things and industries and areas you focus on you will make it hard for people to stay interested and stay in the conversation.

If you want to increase the effectiveness of your marketing you need to start with your language. Know exactly whom you are talking to and know why you want them to listen. It will change your sales game.

Are You Relevant? Prove it!

Being relevant to your followers and your clients is necessary for good business. Our language, topics, and direction affects the way people interact with us. It is one thing to be relevant, it is another to stay relevant, especially when our words can be around on the internet for many, many years, if not forever.

I am fortunate to have inside knowledge of a very popular blog (www.MTG-Realm.com). This is a very niche focused blog, that shares information on the game Magic The Gathering. The owner of this blog (Bob Barrie) collects and shares information of new cards and products. It is so popular that he gets 2000 – 14000 hits a day on the blog and has just surpassed his 5,000,000 visitor (that’s 5 million). His product is information and it is so relevant to his followers that it is the first place people come to find out new information on the game they love to play.

He often adds his humour and personality to the content by creating videos, stories, and posting humorous images which endear him to his audience.  Today he had a nice surprise when he found that an article he wrote 3 years ago was the topic of an article in the National Examiner. His information is so relevant to his audience that even three years later there is value. (Here is the original post)

So, are you relevant to your client?

Here is how you prove it:

1. Your clients refer you

MTG Realm often gets shared thousands of times a day. People know the information is reliable and they want to help others get the best too so they share his online location.

Do your clients actively help others by sharing your business information?

2. Your clients rely on you.

For MTG Realm, when someone finds something interesting online they expect to find confirmation on the MTG Realm site. Bob has their trust because he has reliable information when it is needed and expected.

Can your clients rely on you when they need you?

3. Your clients and other people you don’t know quote you

Just take a look at the story in the Examiner. A seemingly simple informational share became worthy of another person’s article.

Do you want or need this type of PR?

4. They reach out to you

People in the Magic industry and game world want to be associated with MTG Realm. They know that he has influence in that world. He is approached by business owners, online and physical stores, as well as players, other bloggers, and the PR company for Wizards of the Coast because they know he can add value to them.

Are your clients making an effort to seek you out and be connected?

5. They come back

The biggest compliment a business owner can have is to have returning clients. MTG Realm has some of the most loyal customers, lining up each season to be a part of his blog.  His content is shared over-and-over, year-after-year.

What percentage of your clients are return clients?

Take a look at these 5 questions above. Do you know the answers? Do you care enough to make the necessary changes so you can be relevant to your clients year-after-year? I hope so because I would love to hear your success story.

What have you done lately to be relevant to your customers and followers?

Growing in a Partnership

This topic came to me as a result of a question I got for my BLITZ Entrepreneur Club Q&A call this month and I thought I would share it with you too.

The Question

My client asked, “I have a partner in my business. I am really excited to do new things and have more products to sell but my partner doesn’t want to change or invest. What should I do?

The Answer

A partnership is like a marriage. You started out madly in-love with your business idea, excited to create something new together, and happy to have found the person that will share this adventure with you. As you, your partner, and your business grows and changes there is always the chance that you will not grow in the same direction. Here are three steps you should start with to help evaluate where you started, what you have, and where you are going, before you make a decision as to your partnership.

Handshake

 Agreement

Start by looking back at your initial partnership agreement. By revisiting where you initially thought you were going with your business you may discover the spark that lead your partner into the business in the first place.

  • Did you state roles and responsibilities? What were your roles and responsibilities when you started? Are you still in charge of those responsibilities?

If your partner never had a clear idea of where they fit in the business or they are still doing the same mundane things then boredom or frustration may have replaced excitement for your partner, who now may not see her role as important or valuable.

Business Successes

Look at your original business plan, particularly the cash flow section and compare it to your current business plan. You want to get an idea of what you have built and where it is going.

  • Identify the successes you have had in your business. What is in your near future – Growth or Decline? What are you forecasting for the next year?

You want a clear picture of what you expect your business future to look like if nothing changes. This way you will have better insight into what your partner is holding on to or hoping for.

Know Your Goals

Write out what it is that you hope to see happen in the business. Identify what is different from your initial partnership agreement and what is different from your business plan.

  • You need to know what it is that you want.

If it is significantly different than what you agreed on creating with your partner, knowing this will give you insight into why your partner is not ‘on-board’ with your direction.

Talk and Decide

You need to start a dialogue of change. Go over the information you have gathered. Get your partner to voice their concerns and their goals. Find out what would make them really happy and excited again in the business.

Maybe the forecast of the business shows that at your current rate you will not survive another 6 months. Maybe you are not happy with your initial partnership and you need a change from it. Maybe you need to rewrite your agreement or your business plan. OR Maybe you need to be doing something completely different and separate from your partner.

You will need to use this conversation to identify all the opportunities and options available to you and your partner and then you have to make a decision on what action you will take.

One thing I know for sure is that if you are not both moving in the same direction, with purpose, your business will suffer, so take the time to get re-aligned. You may need to hire a mediator to help you review the information together and come to an understanding for the future of your business.