Annette Ferguson In Audio

Hey Money Makers! Today I want to speak about how to know what opportunities to go for in your business. Now if you have opportunities that present themselves or potential clients in your business and you are not so excited that you want to run and call your best friend or partner. Then you might want to have a quick check as to whether that opportunity is right for you. Is that actually going to be pushing you forward, is it going to be financially profitable, emotionally profitable for you in your business if you do not have that type of reaction? Think twice when a new opportunity presents itself. Join in the movement at: https://www.facebook.com/groups/BusinessWealthEngineCommunity/

Hey money makers! Today I wanted to share with you how to calculate your cash capacity in your business. This can be a really useful matric. First of all you need to know what what the balance in your bank account is up to date. What is your current account balance? Then you’ll need to know what your accounts payable total is (what you owe to others) and what your payroll requirements are over the next 60-days. What you do is take the cash in the bank and divide it by your accounts payable and payroll due for the next 60-days and that will give you a number. If the number is between 1 and 3 the business is healthy in terms of cash. If you get a negative number like -1 your business is not so cash healthy. If you’re higher than 3 then it’s bloated in terms of cash. If you’re below 1 then you need to look at a cash management strategy to bring that back into a healthier position. Join in the movement at: https://www.facebook.com/groups/BusinessWealthEngineCommunity/

Hey Money Makers, every business is a family business because every business either takes or gives to you family...it either gives money, time and energy or takes time, takes money and/or takes energy. So, watch how you are building your business and how you want it to interact with your your family and make sure that your business is delivering to your family what you are wanting to deliver. Join in the movement at: https://www.facebook.com/groups/BusinessWealthEngineCommunity/

Hey Money Makers, Now those people that are the highest performers in their area (business or sport etc.) they focus on outcomes rather than to dos. Because the problem is if we focus on a to do we’re always failing because as a business owner our to do list is so incredibly long that by the end of the day we don’t manage to finish it. That is how I felt when focusing on to dos. So try switching it up! Focus on the outcomes that you are wanting to achieve. Then think about the outcomes you need to achieve in order to get you to your vision rather than focusing on those to dos and not achieving your desired outcome. Join in the movement at: https://www.facebook.com/groups/BusinessWealthEngineCommunity/

Hey Money Makers, and today's top tip is focus on the glass being half full! Even in bad situations if we can exploit the benefits of those then it makes life and business so much easier. Of course, bad things are going to happen in our business because that is life and life isn't always rosie! But if we can take the good stuff out of the bad stuff that happens then that is going to progress your learning, make your life easier and progress your business going forward as well. So let’s think of the glass half full! Join in the movement at: https://www.facebook.com/groups/BusinessWealthEngineCommunity/

Before you invest anymore money in your business you need to get really clear on your vision, and you need to understand where you want your business to get too, and where you are now in order to know where to put that investment. Too many times I see business owners reinvesting money in their business just because it’s the new next best shiny course that’s just come out online because they like the guru selling it. So, be really clear on your businesses vision and where you are now and then you’ll know where to invest your money effectively without getting sidetracked by that shiny new course just coming out. Join in the movement at: https://www.facebook.com/groups/BusinessWealthEngineCommunity/

Hey Money Makers, we don’t get taught about money in school so what this means for you as an entrepreneur is that you need to be learning about: → How money works, and what to do with it when you have it in business. → You need to understand how cash flows in and out of your business to ensure long term financial success. Take care. Join in the movement at: https://www.facebook.com/groups/BusinessWealthEngineCommunity/

Hey Money Makers! I wanted to share a tip with you today which is: When running online businesses we need to get over the fact that not everyone will like us and this might be hard for some personality types because we naturally want everyone to like us. In the offline world you might meet people that don’t like you and it’s the same with the online world too...everyone that you come across might not like you and quite frankly you might not like them either and that’s ok. We can still be visible, we can still be out there sharing our message with the world, and helping our clients and prospects in the way that we want because we know we’re helping those that do like us and that is what matters most. Join in the movement at: https://www.facebook.com/groups/BusinessWealthEngineCommunity/

Hey Money Makers, if you’ve been in the online world for any length of time you would have heard that difference between working on or in your business. But if we want to step into a true CEO role within our business and actually step up into that position then we need to move to having that strategy, that working on your business piece as the vast vast majority of our working week having other team members doing the doing piece, the working in your business. Have a look at your week, look at how you have structured it, and see where are you on that scale of moving towards spending the majority of your time working on your business having others work in the business doing the work and getting the client stuff done. Evaluate your week, and are you where you want it to be? Are you moving into that CEO role if that is what you want or are you sticking in the business, doing the work within your business? Which is completely fine if that’s the role you want to take but it’s all about being aware and conscious of those roles within your business and who is doing what. Join in the movement at: https://www.facebook.com/groups/BusinessWealthEngineCommunity/

My quick tip for today is one that you may have heard or read before if you're following my content but here it is because it's worth reiterating. I want you to check your business bank and credit card statements for the last 12 months and I want you to go through those expenses line by line and ask yourself two questions: Is this expense necessary to keep the lights on in my business; can I operate without it? Is this expense delivering me a positive return on my investment. If the answer to the above questions is ‘No’ then you have found a money leaks in your business and you need to get rid of it. Join in the movement at: https://www.facebook.com/groups/BusinessWealthEngineCommunity/

Today, I want to speak about raising your prices because I often hear from people that they have got to that point where they are really busy with their clients but they don't know where to go with everything and the answer is ‘raise your prices’. Now, you might be thinking ‘That's all well and good Annette but I'm going to lose clients or I'm not going to get anymore clients if I raise my prices’. Well, the interesting piece of information is…there have been studies wish has shown that when a business raises their prices they actually have an increase in the number of people that want to work with them. And the main reason behind this is that as human beings most of us believe you get what you pay for and if your pricing is too low you will have people assuming that your product or service is a bit crappy. So, by raising your pricing your elevating that you get what you pay for in people's minds and people are more likely to come to you as a result. Try not to be scared to raise your pricing partially if you're in a place where you're feeling like you are fully booked. Join in the movement at: https://www.facebook.com/groups/BusinessWealthEngineCommunity/

Today I want you to think and reflect on how far you've come in business. It can be so easy for us to keep striving to reach the next goal, to reach the next place, and do the next thing. Sometimes we forget to take a moment and think what we've achieved, learnt and done in the last week, month, quarter and/or in the last year. So, take some time and think what have you achieved? Give yourself that pat on the back you sometimes might forget to give yourselves. Join in the movement at: https://www.facebook.com/groups/BusinessWealthEngineCommunity/

This one is for those of you that have some limiting beliefs. What I urge you to do is to research the crap out of your limiting belief. Research it as much as you possibly can and by the time you have gathered all that information on that limiting belief… it's probably quashed. So research as much as you can and you'd probably disprove it. Take care everyone. Join in the movement at: https://www.facebook.com/groups/BusinessWealthEngineCommunity/

Hey Money Makers, Today's tip is about finding time to do those things in your business that you are not managing to find time for just now. It's all about scheduling. It's all about getting blocks of time in your calendar each week to do those things you say you want to do that might be writing a blog, writing a book, it might be doing a course. Whatever that is, schedule time every single week or every day however long you need in terms of when the deliverable is...and make sure you stick to that time. Treat it like you would a meeting with a client or customer. Protect that time and do the task in that time and before you know it whatever it is you keep meaning to get done would be done. Join in the movement at: https://www.facebook.com/groups/BusinessWealthEngineCommunity/

Hey everyone, my quick tip for today is to simplify. Too many people are way over complicating their businesses particularly in the early stages and actually by simplifying your business can make a massive difference in terms of your revenue and your profit. Instead of thinking about how you can add and add and add to your business - have a think today about how you can simplify because not only will it simplify your life, it will simplify your message within the marketplace as well. Join in the movement at: https://www.facebook.com/groups/BusinessWealthEngineCommunity/

If you are one of those people that feels like you are never getting enough done, and you are not achieving what you are wanting to achieve, and are generally feeling a bit ‘Meh’ I have this task for you. What I want you to do is write down your top 5 priorities that you have in your life. That might be family, health your business and write those down in order. Then I want you to go back though your calendar, through the last 30-days and see if you are allocating your time in accordance with those priorities. If you are not currently allocating your time in accordance with those priorities that probably why you are feeling a bit crappy about the time you are spending doing things and not achieving the things in life you are wanting to achieve. Therefore what you need to do is take action and move yourselves towards a place where you are spending your time doing those things that are of the highest priority to you and letting other things slip by the wayside. Join in the movement at: https://www.facebook.com/groups/BusinessWealthEngineCommunity/

If your business is generating under 100k a year in revenue then I urge to only focus on one revenue stream in your business. What I see too often is entrepreneurs spreading themselves too thinly and are trying to have multiple streams of revenue feeling that that is the way for them to reach that 100k mark. But actually what happens is they end up spreading themselves way too thin and are trying to promote too many things on their own (because there is no team at that level) and they end up not managing to focus on one key thing in the right way in order to get it to where they want it to be. So yes, once you get it past 100k you can add a second revenue stream for example but when under that 100k level I highly highly urge to you to stick to one revenue stream so that you grow that stream to where you want to be much faster! Join in the movement at: https://www.facebook.com/groups/BusinessWealthEngineCommunity/

My tip for you today is to observe! If you've seen somebody who has done an awesome launch just go back watch how they did it. If you see somebody that has created and is running a kick-ass, highly engaged Facebook Group and you want similar results then go back and look at how they are doing it. Just watch and observe! We can learn so much in our online businesses by just watching and observing other online entrepreneurs and we can take in so much, and learn so much for our own businesses. So, I urge you today to just watch, keep your eyes open and observe the things you might want to emulate in your business. Join in the movement at: https://www.facebook.com/groups/BusinessWealthEngineCommunity/

Today I wanted to talk to you about your work and how that does not equal your worth! Your business and its success (whether you deem it successful or not) does not reflect on how much you are worth because you are enough, you are awesome the way you are and don’t let anyone tell you otherwise. Don’t let the way your business is now reflect in any way the person that you are, the wonderful entrepreneur that you are, you are worth huge amounts and it is not reflective in your bank balance or your profit and loss account. Join in the movement at: https://www.facebook.com/groups/BusinessWealthEngineCommunity/

If you are in a business where you send proposals to client and your proposals has different options, pricing and service levels then the best way to present that is to have the most expensive option first going down to the least expensive. If you do that, physiology it is great from a client perspective because if they cannot afford the most expensive then they have a cheaper one to fall back on. If you present the cheapest first that may appear more expensive in comparison. This would enable more of your prospects to reach for those higher prices packages or services. Join in the movement at: https://www.facebook.com/groups/BusinessWealthEngineCommunity/

Money is not the route to all evil, money is not the cause of all problems. What money does is allows us to make a greater impact in the world, it allows us to do more good in the world - and I want people to flip the money conversation that they may have taken over from their childhood where they are told all these things about money by influences about what money is. Money enables us to do more things, to do good in the world and money amplifies our characters. Join in the movement at: https://www.facebook.com/groups/BusinessWealthEngineCommunity/

Which direction are you looking in your business and which direction is your finance team looking? Are you looking backwards or forwards?! Because most finances in business are backwards looking the period, quarter, month etc. But it's important to look forward with our finances too… You need to be looking at forecasts and projections going forward to help and support you life the life that you are wanting to live. Make sure that you're not looking in the rear view mirror and make sure you're looking at those projections to help move your business forward. Join in the movement at: https://www.facebook.com/groups/BusinessWealthEngineCommunity/

You need to work out the lifetime value of your customers. What each customer is worth to you. This is a really important number because when you look at your advertising spend you can work out how much you can spend in order to get a new client because you know what each new client is worth to you. You work this out by looking how much they pay you. Each transaction, or monthly or yearly however that works for you and then how long they stay with you on average and then you can calculate what the lifetime value is… You might have more than one CLV if your services are totally different and that's ok. The important part is knowing what each of these are before acquiring new customers. Join in the movement at: https://www.facebook.com/groups/BusinessWealthEngineCommunity/

Your top tip for today is around your Marketing spend because this an area where I see many businesses struggle/not having a handle on their marketing or if they’re getting that return from their marketing spend or not. And there are different types of Marketing spend brand awareness for example which isn't going to deliver you with a direct return but then if we look at a marketing campaign or a launch/funnel then you need to make sure that that is delivering a return. So if you are running a campaign to get people into a funnel then you need to make sure of your CPA. How much does it cost for you to acquire that customer and how much is each customer worth to you. If you don't know what it should be then that should be your starting point before your turn on any paid advertising. Join in the movement at: https://www.facebook.com/groups/BusinessWealthEngineCommunity/

Hey Money Makers, When you say that you don't have time to do something that's not actually the case. It's just not a high enough priority. It's not high enough on your list for you to find a way to do it. And that can be an interesting way to rethink when you're rushing around saying you don't have time, I don't have time, I don't have time and that can be overwhelming. So switch it, recognise that this isn't a priority right now but you will add it to your list and will get around to it. This prevents feeling overwhelmed and stops you from getting overloaded by tasks/what others are asking from you. Join in the movement at: https://www.facebook.com/groups/BusinessWealthEngineCommunity/

My quick tip for today is for those that feel a big meh about making a sale and don't like making a sale. Making a sale is offering your product or service to someone who has already expressed an interest in your service offering. To someone who is saying ‘I need your help’ and you're saying ‘great I have the solution’. That's what a sale is...providing solutions to people who need help. If you're like me, then you want to help as many people as you possibly can in this world achieve whatever it is you achieve for them. So please flip it on its head on how you feel about sales because sales is helping people. Helping people who have asked for your help and expertise. Join in the movement at: https://www.facebook.com/groups/BusinessWealthEngineCommunity/

Good morning Money Makers and welcome to today's top tip! This tip is around consuming content, other people's content - and what I have started to do and I've found it's made a massive difference (and just so you know I prefer consuming content audibly; listening to Audiobooks and podcasts etc.). So when I'm listening to content for the very first time I only listen it. And then I go back and listen for a second time and the second time I listen I'm taking notes and am writing down things that I would like to action from that content. The first listen I'm getting an overview and understanding of that content. The second listen through is actually when I'm writing stuff down that I would like to implement. I think that people often consume content but they don't actually take away those actionable steps, those things that you can learn from the content that enable you to move your business forward - which is why you are probably listening to the content in the first place! So, I am listening/consuming content twice. Maybe a third time if the content is complex to make sure I can segment my understanding of that content. Join in the movement at: https://www.facebook.com/groups/BusinessWealthEngineCommunity/

Today, I want you to have a think about all the projects you have running within your business and all those ideas you have in mind about how you’re going to drive your business forward. Write them all out, brainstorm them on post it notes, get them all on paper and now I’d like you to half that pile! Now half that pile again, and again, is this really necessary, is this going to get me and my business to where I need to be? Keep halving that pile until you end up with only 1 idea left because that is the key driver in your business and this is going to get you to where you need to be. Focus is key! Join in the movement at: https://www.facebook.com/groups/BusinessWealthEngineCommunity/

I want you to understand clearly and truly what success means to you! I often see business owners heading in a direction that’s not congruent with what they actually want from their business and their life. Make sure that you are heading in the right direction! Sit down and answer the following questions: What does success look like to me? What does the vision for my business look like? Write that down and then take a deep look at your business; is the business I am driving, the vision im working towards look like my ultimate idea of success and the vision I have for me and my life? Join in the movement at: https://www.facebook.com/groups/BusinessWealthEngineCommunity/

Do you track your time, do you track how long you’re spending on what I call ‘Leadership Activities’ the strategy of the business the vision the planning side of things? How long you’re spending on management tasks and managing your team? And how long you are spending on doing? It can be really eye opening to track your week and see as the CEO of your business where you’re spending your time. Are you spending the most time you can in that leadership position or are you getting dragged into the management and the doing/operating positions? This would allow you to strategically make changes within your business to ensure you’re spending as much time as you possible can focusing your efforts on the vision and strategy of your business. Join in the movement at: https://www.facebook.com/groups/BusinessWealthEngineCommunity/

Do you set goals within your business, do you drive towards those goals, and do you measure your goals? People set goals within businesses but they forget to either put the projects in place to achieve that goal and/or they forget to measure it. So it just becomes a ‘fluffy goal’ and we don’t want that within our business. So let’s have a rethink about how you set goals, how you hold yourself accountable for those goals, and how you drive your business forward using those goals. If you fail to plan properly you plan to fail. Join in the movement at: https://www.facebook.com/groups/BusinessWealthEngineCommunity/

Make sure you don’t get distracted by those shiny objects because as entrepreneurs we all have a hundred of ideas each week. I have a notebook in Evernote - An ‘Idea Park’. Anytime I have an idea, I dump it in there and then during my planning sessions, I can revisit if that idea is good to pursue, if it’s in alignment with my wider vision, or if it’s not worth the efforts and needs deleting. Try an ‘Idea Park’ and let me know how it goes! :) Join in the movement at: https://www.facebook.com/groups/BusinessWealthEngineCommunity/

I want you to have a look at the time you are spending on your customers or clients each week. What if you could half that time but still deliver exactly the same results, how can you structure your business so that can happen, what does that look like in terms of increasing your efficiency and profit? Can you still deliver the same service in half the amount of time? Join in the movement at: https://www.facebook.com/groups/BusinessWealthEngineCommunity/

Most people avoid the basics and do not show up within their business to offer their products and services to the world to impact and influence more people! If you’re shy, a little bit scared it’s ok! Just keep showing up, just keep going even if it feels like you’re speaking to no-one because that one person that could be watching might make all the difference. Join in the movement at: https://www.facebook.com/groups/BusinessWealthEngineCommunity/

Today’s Top Tips: I want to speak to you today about having those all important dashboards in your business. Those one page dashboards where you can get an idea of what is happening in your business and really get a picture of how your business is operating at a glance. I have a few: I have daily polls a summary of key numbers I need to know in my business! I also have a more indepth finance, marketing, sales and social media dashboards I review weekly to see how my business is doing. Do you have something similar in your business so you can see how your business is operating at a glance? If not, why not? Join in the movement at: https://www.facebook.com/groups/BusinessWealthEngineCommunity/

Today’s Top Tip: We cannot focus on more than one thing at the same time, our brain switches between the tasks. Regardless of gender we cannot multitask! So what i urge you to do this week is focus on one task at a time. Turning off and shutting out all distractions until those tasks are complete. It’s time to turn off those notifications and give this a go!

Every person that you meet, every person that you speak to, every person that you engage with online I want you to ask yourself ‘How can I deliver this person value without expecting anything in return?’. Now I’m not telling you to start working and offering your products and services for free but how can you deliver value to each person you communicate with? Join in the movement at: https://www.facebook.com/groups/BusinessWealthEngineCommunity/

Today I want you to think about our thoughts and how we think in general; because our thoughts become our feelings and our feelings impact our actions! Our thoughts, feelings, and actions are all linked meaning if we have positive thoughts we’d have positive feelings which leads to positive actions...which in turn is good for our health, wellbeing and the success of our businesses. Take a moment to reflect on that, what light do you put things in, are your thoughts serving you and your business in a positive or negative way? Join in the movement at: https://www.facebook.com/groups/BusinessWealthEngineCommunity/

What questions could you be asking your clients or your prospects that no one else in your industry bothers asking? One question I always ask people is ‘If I had a magic wand what would your business look like after I have waved it?’ and the natural response is always ‘Wow, an accountant has never asked me that before.’ So, what questions could you asking to help you help your client or prospect more? Join in the movement at: https://www.facebook.com/groups/BusinessWealthEngineCommunity/

There is no one size fits all in business. We see all these things like ‘Learn how I got from £0 - £1 M in three weeks and you can too!’ There is no one size fits all! We are all different and we are all taking different experiences to the plate when we show up in our businesses. So yes, we can get inspiration and ideas from other people but you cannot take just take a blueprint from someone else and replicate it exactly and feel like that is being authentic to us… You’ll be setting your business up to basically achieve exactly the same as what someone else has achieved but that is not you: You are a different person. You have a different life. You have a different family. You have different business needs. A straight copy blueprint will not work in the way you want it too! Join in the movement at: https://www.facebook.com/groups/BusinessWealthEngineCommunity/

Today’s Top Tip: The 4 Minute Mile Remember the 4 minute mile wasn’t possible...until it was and now lots of people can run a 4 minute mile. It’s the same in business! If somebody, somewhere in the world is doing what you want to be doing in your business then it is possible for you to do the same. Even if it’s just one person...remember. You can too! Join in the movement at: https://www.facebook.com/groups/BusinessWealthEngineCommunity/

I read recently that across all industries in western businesses between 20% to 70% of customers leave within the first 100-days of joining. So, you do all this work upfront to get people in, for them to engage with your services and then often the onboarding can be not so good of an experience and they leave. Listen and discover how to retain these clients or learn more at: www.annetteandco.co.uk

Wondeing how much you should be spending on contractors, employees, freelancers, personal assistants and/or team members? If you're a new or recent start-up business knowing when you can start employing someone could be a make or break situation.  So getting it right, first time is super imporant!  Regardless of your company structure, we recommend 18-20% of your sales revenue excluding VAT and sales tax can be dedicated to team members. We've found this to be the sweet spot for the thousands of businesses we work with; it ensures your business stays financially healthy without stifling the growth of your business.  This is my rule of thumb, that really works! #MoneyMaker https://annetteandco.co.uk/blogs/news/the-18-rule

Do you really need an office? Discover a new way of working that could save your business thousands of pounds a year! https://annetteandco.co.uk/blogs/news/do-you-need-an-office

In this episode I speak about the difference between income and revenue sources. I also speak about when it is a good idea to add an additional revenue stream in your business and when it is, perhaps time to wait.

Are you taking home the money you want in your business? Might there be some money leaking out? In today’s episode find those leaks and plug them for good.

This segment of the podcast gives you daily business growth tips. Links mentioned: Facebook Group - www.annetteferguson.com/FBGroup

This segment of the podcast gives you daily business growth tips. Links mentioned: Facebook Group - www.annetteferguson.com/FBGroup

This segment of the podcast gives you daily business growth tips. Links mentioned: Facebook Group - www.annetteferguson.com/FBGroup

You can connect with Anna by visiting her website - http://www.inkspiller.co.uk/ Or heading over to Twitter - https://twitter.com/inkspiller_ And of course, if you want to connect with me, I'd love if you want to join the Facebook Group - http://www.annetteferguson.com/FBGroup

This segment of the podcast gives you daily business growth tips. Links mentioned: Facebook Group - www.annetteferguson.com/FBGroup