I’ve recently attended two business talks from Brad Sugars and Brad Rosser. They are both from Australia and run business coaching companies. Their talks were entertaining and contained some golden nuggets of advice:
Brad Sugars is a charismatic man and a wonderful story teller. He had the audience in stitches. To get his message over Brad told many amusing tales his farming origins, family life and helping small businesses to grow. His claim to fame is having retired at 24 and then again at 30 after achieving great success.
Paul Hogan (Crocodile Dundee), Not Brad Sugars,
but there are some strong similarities
Brad’s secret ingredient to wealth is to “sell something many times”, “if someone else can do the work with your company get them to do it” and use then entire sales funnel to get results. Brad’s talk was on How to Succeed in a Recession! He sees the downturn as an opportunity as do I. Here’s what he had to said:
- Strategy (Have one!) – A very good point as many business don’t seem to have one.
- Know your numbers – Rachel Elnaugh also said this at her talk
- Cuts, make them but don’t cut the people – Simultaneously they are biggest cost and greatest asset. Good people are hard to find so keep them.
- Retain, Keep the Grade A & B good customers and sack the D customers - Tim Ferris talks about firing the 80% of the customers who only produce 20% of the profits (point 10). I love the 80/20′s rules!
- Advertise – There are great deals to be had out there – Now is the time to be brave and spend! Your competitors probably aren’t.
- Give stuff away, to entice potential customers in - Free works (if done right i.e. have a strategy)
- Add value, Treat customers special - Customer service is king
- Stop discounting! – The impact goes straight to the bottom line
- Close door sales - time limited offers
- Recruit, good new staff - Now is a good time find ‘cheap talent’
- Learn to train, Staff and yourself - We all should be doing this anyway. Brad seems very keen on learning. He boasted that he’d read over 1400 books in his lifetime.
- Invest – Now is the time to buy – Brad believes a good business should save funds during the buoyant economic times (Summer) and invest during the inevitable downturns (Winter) when prices are low. However I believe this Winter is going to last and be deeper than the usual economic winter.
- Be different, Or you will only compete on price – Excellent point.
- Have fun – Easy to forget sometimes.
- Get a coach – Here comes the sales close – Hold onto your cheque book
- Under promise and over delivery – Great customer service again.
I highly recommend Brad Sugars talks for the entertainment value if nothing else. He’ll be back in the UK next year after building his new house in Las Vagas. As I said he is a character.