SOKOSOKO Volume 1 | Issue 1, 2022 Business Reality Check FounderResponsible Khadija Grewal Luxe Homes & director | Fresh Quests Realtors Stop Fire Fighting, Grow Your Business Stop Fire Fighting, Grow Your Business The
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Business
These may look like an indictment to the business owner and perhaps even scare away the faint-hearted. However, information is supposed to inform beliefs and shape behavior so that we make more informed decisions and get on the brighter side of the data. After all, there are always two sides to every coin.
Business Tips
In the Maslow’s Hierarchy of Needs you can map out your current needs as a Founder and align your business needs inorder to produce the most appropriate results. To adequately address the highlevel needs, you first have to make sure all your lower-level needs are sorted. Resist trying to establish a legacy until you first have solid sales processes, and your business is consistently profitable. Tackle all your low-level needs before you try and address your high-level needs.
Understanding the Business Hierarchy gets you on a laser-focused path to do the things that matter to grow your business so that you can stop fire fighting and start growing a business.
At SME Founders Association we interrogate existing information and knowledge and come up with tools and techniques to support small and medium enterprise founders to enhance their competence, compliance, and ability to access capital.
Out of the percentage that is failing, there is a percentage that is making it and we hear little or nothing about them.
In the first years of your business focus on getting by applying the fundamentals of cash creation, profit first methodology and creation of efficiency (CoE). CoE will require resources - technology, talent, structure and consistent cashflow. Once you get the rhythm of creating cash stability and efficiency the resultant effect will be impact and transformation.
At SFA we believe that the first investor in every business is paying client. When you have enough paying clients to be able to sustain your personal needs and business needs, then you are truly ready to engage an investor to pump more money. As a business owner, you priority must be creation of consistent cash flow, because a business without cashflow is like a human being with out oxygen or blood. Secondly, the cashflow needs to be profitable cash flow and there are two ways of determining that.
One tool we have found helpful is the business hierarchy of needs by Mike Michalowicz. Just like Maslow created a needs hierarchy for the human being Michalowicz created for a business and combining the two can help you build a business that creates value for your company, clients, and the community. A business that is not able to pay you or serve the community will soon pass away.
The good old accounting way of waiting for our annual accounts or the Profit First Way by Mick Michalowicz which ensures you profit from every sale. Profit from every sale is a good way of ensuring you have cash reserves by starting small and growing over a period of time. It requires an audit to inform how much a business needs and is making so that appropriate percentage can be applied to the cash flow instead of waiting for the break even point. This methodology ensure you are patient for growth but impatient for profit which is the extra cash you will use to hire, put in systems and add assets to grow your business. When you change the way you look at things, the things you look at change.” — Dr. Wayne Dyer.
Join us at Grow Scale & Thrive Masterclass and discover sustainable money and market sources.
Business Tips
6 you can stop business.growingandfightingfirestarta
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Start with the end in mind, if everything was going well for you, what would your life look like, what would your enterprise look like and how would the environment change because you exist? After that start creating that mental image with what you have at a pace that suits you. It is your life and enterprise. You set the timelines and metrics to measure.
1. Be Proactive. Define what you want and own it. Resist the urge to compare yourself with others and focus on building your life and enterprise.
The esponsible Founder
Business Tips
The Founder is surrounded by myriad challenges and priorities seeking his and her attention. The quest to make money and pay bills often makes the fire fighting victims and to take charge and turn the tide, a founder has to become responsible to design a business and life they want instead.
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3. Apply Compasison. In the cutthroat world we find ourselves in. Use a script of compassion. Find sustainable ways of helping others while holding them accountable to take responsibility of their life and work also. Helping means showing and guiding one how to cope, not taking over their load, but carrying it together.
4. Learn, Unlearn and Relearn. Not everything you have learnt to date is relevant or helpful for your progress. Interrogate what you believe and see if it really matters or applies to you. Not you hear applies to you, even this article you are reading. Unlearn ideologies that do not to your progress and reinforce the ones that do. Better late than never, is one such idealogy which keeps
By Frida Owinga, Business Tips Certified Life and Work Coach
people procrastinating and showing up late. Time lost can never be recovered, use and share it wisely.
9 2. Execute on priorities. Create a system to execute on your prioiriteis and resist emergencies. Before you respond to an emergency, take time to evaluate and see if it is a real emergency or fake one. A real emergency is a life threatening situation, a crisis that can deter you from achieving the results set out to produce.
5. Expand your reach and impact by collaborating. What are your strengths, do work and life around that and delegate your weaknesses. Delegation is getting others to do what you needs to be done that you are not good at. This can be for pay or barter. Learn how to collaborate and expand your reach and impact. Love people and trust God. Expecting too much from people is a recipe for disaster. Express what you expect, evaluate and realign often. If it doesnt work well for both parties, ending a relationship early is better than tolerating a relationship that drains your energy and resources Be responsible! Pay attention to what you want and how you can contribute to your success and that of others. You cannot give what you do not have. Start with you!
• Plan ahead, maintain good client relations as each client can be the source of the best marketing, which is word of mouth.
If you were to give a new real estate business owner advice, what would it be? I would advice them to :
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• Be honest in their dealings and avoid falling into the trap of looking for shortcuts.
• create a new niche for themselves rather than just doing what has been done over and over again.
Marketing is the one catalyst that can send your sales figures into the stratosphere. Marketing can help you cut down the sales cycle for your sales teams, increase your sales figures, reach more people more quickly and at a lower cost than a sales person.
Founders Corner Khadija Grewal
What do you enjoy doing when not working I love traveling,hiking and making new friends Your favorite quote?
Luxe Home’s Ltd FreshQuest Realtors
http://www.luxe-homes.properties
Why did you start this business
Treat your employees with respect, show appreciation for their work and be an encourager to them. This will in return create a desire in them to also treat customers and clients well.The benefit of this is that It will contribute to higher productivity levels and profitability. So it is a win win.
started the business to carter for niche clients who are seeking to enjoy the finer things in life by providing them with masterfully designed , modern homes. We wanted to provide the new standard of Luxe living- providing high end luxury homes in affordable estates. We wanted to cater for discerning clients who have either been overlooked, shortchanged or looking for homes with exquisite detailing and the highest quality of materials and craftsmanship.
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“Success is not final; failure is not fatal: it is the courage to continue that counts.” – Winston Churchill C.E.O of Luxe Homes & director at Fresh Quests Realtors
Share 3 lessons you have learnt since you started People are looking for integrity and if you can provide that, you cannot meet the market demand because many organizations take short cuts to make quick money.
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