Coaching Conversations - Ep 1: Focus, Running Lean & Pivoting your Business Model

In this, the first episode of Coaching Conversations, Nick and Chris from Upcoach discuss real-life strategies to get things done in your business, especially in the time of Covid-19.

What should you be focusing on at the moment?

What two things will help stabilise your business now on going forward?

How to make your business come out the other side thriving!

There are some exciting opportunities ahead for businesses that dare to take a chance, those prepared to pivot, to focus …. and to take the lead in their industry. 

How can you do that?

This episode covers these and more powerful insights in one tight and punchy 20-minute chat. 

Enjoy!

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Time Code

0:00        Show Intro

0:27        Chris and Nick discuss the purpose of the new “Coaching Conversations Podcast”.  Which is btw - an upbeat series where Nick and Chris help answer question about overcoming real-life challenges in your business.  They provide strategies and usable tools to help you take more action and get things done in your business.  Short, Sharp and Punchy - with great value!

2:15        If you have questions you’d like answered… please contact us at:   [email protected]

2:51        What should you be focussing on any business and niche… to stabilise your business for the future?

3:17        There’s a lack of attention to detail on “where’s the money going”.  There’s a need to KNOW these important things.  Don’t rely just on others knowing these for you.

3:59        Most people think to get a business through COVID they need to stop spending money, cut back on marketing, shut everything down, just to eat bread and water, fire everybody and don’t grow your people.  The exact opposite is true?  Why?

4:37        First thing to look at…  What your income is and what your expenses are.  Tone up the ship where you can.  To stabilise, making it leaner may be advantageous.  You need to get ready to move forward when things normalise… In whatever shape that is.

5:27        Running leaner doesn’t mean firing people, getting rid of staff, hibernating.  Means looking at more efficient ways of doing things.  Find cheaper suppliers, ordering less, rostering better… Wiser stock controls.

6:00        Two things to stabilise a business.  Become Financially efficient, and Operationally efficient.  Have you had too many people doing little bits and piece… or been doing everything yourself.  Maybe you need to hire someone… make room for you, so you can grow the business.

8:27        It all comes down to how you think about or / perceive things….  There have been thousands of people saved because of Covid-19 (New York Car accidents are down).

9:41        What does PIVOT mean in a business?   What are practical steps to doing this?  Change your model to incorporate more technology so you can cut down on prices.  Use cloud services and tidy things up!  Most importantly… UP THE SERVICE!  Over-deliver for clients.  Show value, show that your customer is worth more than gold.  Doing this is vital to your success.

14:31     Embrace Technology… use it to your advantage.  We have to.  If we are not, our competitors are.

15:02     What lies ahead in next few months in business?   With millions on some form of welfare today, things are uncertain.  Hospitality services will be in demand as people are keen to get out and about.   There’ll be a shift in the way people transact, more online focus… so business opportunities will continue to arise if you can be online and found. 

17:16     There’s a very real opportunity to lead your industry.  It’s exciting.  Start to advertise, go back to your database and contact people you we’re selling to before.   Innovate and reinvent your model.

18:31     Look at your business from the outside.  Think – “how is my industry going to be affected in the next 6 months?” 

How can you zig or zag to make the most of this opportunity?  Organically

19:01     Show wrap up…. Contact us at questions or chat about … [email protected]

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EPISODE SUMMARY:

Things have changed in business.  If you’re not prepared to change also, there’s a real chance you will suffer.  By focussing your efforts on super serving your existing clients, re-engaging former clients and looking for ways to run lean… will help greatly.  Make great use of cloud services to minimize expenses.  Don’t become the bottleneck in your business.  Stabilise, Up the Service, be proactive in your marketing and activities so that you’re in a great place to lead the industry when things get back to some form or normality – however that will look.