Tag Archive for: business owner

Focus – It’s all about biology

I want to start by addressing the elephant in the room.

I do not believe in ‘The lore of attraction’ or ‘The secret’ or any other system where you ask a higher power to grant you success.

What does this have to do with Focus? Well…….

These ‘systems’ all tap into our biology and use our own bodies amazing systems to harness success through focus and dedication.

You may have heard before that your chances of doing something multiplies by many factors if you:

  • ‘Think’ you will do it.
  • ‘Say’ you will do it.
  • ‘Write’ you will do it.
  • ‘Share’ with others that you will do it.

This happens because your Reticular Activating System (RAS) kicks in and releases more endorphins to your brains network of neurons that creates alertness, drive and creativity.

All of which are needed to set goals,  spot opportunities, come up with ideas to achieve them and chase them.     

Now how to improve and even maximise your focus?

Start by taking the step and understanding how this works in your body below is an interesting article on the RAS without going into medical terminology.

https://www.meaningfulhq.com/reticular-activating-system-function.html

Knowing if you respond better to visual, audio or physical prompts will go a long way to staying focused on and achieving your goals.

Revisiting these with someone you trust is essential in keeping focused and this is something that is on the agenda of every single client 121 I have. In some cases, it is a footnote or reminder and in others, it is a key element of us making progress or a key step forward.

The Secret Of Great Time Management

We see this as a 2-sided headache for customers. Firstly, it’s based on motivation which is priority management and the second is structure and forming habits.

Have you ever given the excuse that you simply don’t have enough time? We bet you have! You aren’t saying that you don’t have enough time, what you are really saying is “that is not my priority at the moment”. The problem with this is that humans are programmed to prioritise short-term convenience and success over long-term happiness and success.

A lot of clients that come to Kan Do Ventures will tell us that they were meaning to do something but something else came up or a similar excuse. Our challenge to them is always the same – is it more important than achieving your goals. To put it bluntly to people, if it is a priority then make it YOUR priority. You need this challenge to keep you motivated towards your goals.

Moving Forward

Now you have overcome the desire for short-term convenience, you need to give yourself the opportunity to work on those priorities. This comes with structure and forming habits. The key is to be regular and consistent and to have regular and consistent time dedicated to your priorities. This time should reflect the importance of those priorities. Now it shouldn’t come before essential tasks such as paying your bills etc. This is why when you set priorities you need to include EVERYTHING – From finances to family and relationships to health & wellbeing. You will identify your priorities and you can dedicate the necessary time to them.

There are loads of time habit templates online but the key to all of them is to structure them so they cover all of your priorities. Personal and professional.

Billy Darroch, Kan Do Ventures Small Business Expert says:

Of all of the business headaches that I am covering for Kan Do Ventures,  time management is the single biggest change that any of us can make. I am yet to meet someone who can do it without help. You need accountability and someone that cares enough to challenge and support you. Having a support function in place is absolutely key to successful time management.

Billy Darroch, Kan Do Ventures

To summarise, you need to:

  • Identify your priorities
  • Fix your motivations
  • Be in the best position to structure your time and make good habits to meet your goals.

You can take a look at some time management template here https://www.lifehack.org/466815/14-time-management-templates-to-help-you-get-organised

Or book a free chat with Billy if you want more support to form good habits and prioritise https://kandoventures.com/free-consultation-call/

Get the processes and support to improve your business with Kan Do Ventures

Pricing – Getting it right, first time.

When it comes to pricing we want you to first to go back to blog post one in this series regarding value. That blog post started with the line – ‘price is what you pay and value is what you get’. Before you even consider doing a pricing list, structure, or model, you must first determine the value which is how you meet the needs of your client.

Before we continue, this is not a magical formula. We will not ever say “do this and you will make money” It is so much more complex than that. What we will say is when a lot of business owners start out they immediately look at competitors in the market and assume they need to go it cheaper to win business. It is a quick way to put pressure on yourself and usually results in having to restructure pricing further down the line, or worse, simply not making enough profit for the business to survive.

The Basic Formula

Now that is out of the way! The basic formula for pricing is this.

First, calculate your break-even cost. This is the base number that you have to achieve. When calculating this cost you need to consider:

  • Cost of the product
  • Cost of delivery/distribution
  • Premises or storage costs
  • Systems, CRM or equipment
  • Insurance, website and membership costs
  • Utilities
  • Marketing & advertising
  • Payroll

There will be others depending on your business.

Once you have calculated your break-even cost, the next step is to add on a margin of profit or increase that reflects the value you offer. Remember this includes things like the quality of your service or product, your knowledge, the lead time, the accessibility, the range, the choice. There are so many things that can influence the value that need to be considered in the price.

You Are Not For Everyone

One obstacle that you have to overcome, and this is more of a mental obstacle, is that all clients and customers are different. Some will see your price and appreciate the value. Some won’t. The key is knowing that this is ok. It is ok that some people might look at your offering and not appreciate the value. You need to concentrate your energy on the people that do appreciate the value and are prepared to pay the price.

If you have other questions around specific costings, margins or profit calculations then book a call with our small business expert Billy Darroch. You can book for free here https://kandoventures.com/free-consultation-call/