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People Profits & Purpose Podcast with Nick Psaila
35 minutes | Dec 15, 2022
Ep 97: Our BIGGEST & BEST Lessons from 2022 - Coaching Conversations
EPISODE IN BRIEF Welcome! Nick and Chris reflect on the year that was as we wind down our businesses for the holiday period. The Upcoach masters share their most powerful - and surprising – insights from the past 12 months. Much of the year was far from easy for small to medium-sized businesses. Today’s episode of Coaching Conversations is choc-full of golden takeaways; a reminder of why we do what we do – and how we can continue to challenge our mindset so our businesses may grow in 2023…. Time Code/Show Notes 0.26 Intro: Business coach expert Nick and Chris reflect on the year that was… 2.56 Nick locks into planning; Be prepared to pivot and change direction. That’s the lesson – and the plan going forward. Have a contingency plan B - and C. You’ll need it. 5.34 Chis reveals his greatest learning; slow and steady wins the race. Success will almost never happen overnight. Since Covid, we have learned that nothing is a sprint; it’s a marathon. Slowing down allows you to observe progress. Dan Sullivan says your business is `25 years in the making’. 8.40 Being ridiculously consistent is the stable partner of understanding that success takes time. 10.22 Work towards ‘mastery’. 11.00 When an economy turns there is massive growth. Covid provided an intense, unprecedented re-set. Many businesses faded to a halt. But the reboot is happening. You have to be prepared to ride out the low wave but start to identify opportunities on the horizon and leap-frog your competitors. 14.31 Stop thinking short term. Start the good habits of putting money aside. 19.39 If you want to become a different person, you need to think like a different person. You are a product of your thoughts and your macro environment. Shift the way you react to unfavourable outcomes. 21.16 Habits are really important. Be willing to break the current version of yourself. 22.49 Don’t let distractions change your course – covid, weather, politics. Nick is keen to see us focus, rebuild, get back on the horse and don’t panic. Knee-jerk reactions have no place in 2023. 27.30 You will not find grounding in business if you react without planning. It’s an evolution not a revolution; that’s why it takes TIME. Look at Kodak and Nokia! 28.30 There is no rush; slow down and savour what you already have. Slow and steadily evolve, grow and progress. Move forward slowly over time. If you’re busy but not progressing you’re wasting your time. 37.00 If you’d like to reach out and learn how you can implement change in 2023, email email@example.com for more information on today’s podcast. EPISODE SUMMARY The end of a year is always a good time for reflection. Taking time out to be okay with your business progress - and yourself - is vital. Rest and rejuvenation; both are critical to personal and business success. Finally, as you sit with the notion that slow and steady progress is evolution (not revolution) let go and remember to enjoy your time away from your business. A fresh outlook and a constantly shifting mindset going into 2023 will be your most valuable weapon in the face of change. Happy holidays!
38 minutes | Dec 14, 2022
Ep 96: Nick chats with Dru Morgan from Morgan Business Sales
EPISODE IN BRIEF Today, Nick speaks with special guest, Dru Morgan from Morgan Business Sales. As a specialist business broker, Dru has helped thousands of business owners prepare their businesses for sale. Over 25 years, he has created systems to help scale operations and developed exit strategies so business owners can realise their hard-earned and long-awaited freedoms. Today’s episode of Coaching Conversations is a clever dive into the professional trajectory of a man who went from real estate to business sales – and what he has learned now that he is at the top of his game… Time Code/Show Notes 0.26 Intro: Business coach expert Nick Psaila introduces special guest, Dru Morgan. 4.05 From an early start with LJ Hooker, Dru speaks of observing how different companies scale. Who did it well - and why some didn’t. If your focus is on money, forget it. It’s about growing a team based on values and ethics. 9.20 The biggest mistake that owners can make is not taking themselves out of the business; you need to shift mindset to trust and foster faith in your team. 12.30 Give responsibility to others, observe their skill sets, grow their individual power – help them run your company better than you do. 13.54 Dru considers the main reason managers fail, is their inability to step outside the business and analyse their team. You’ll never identify challenges unless you step away from your business and look in. How else will you pinpoint strengths and weaknesses? Make time to look at your people daily, from outside the business. Make them feel valued, help them become successful. 16.15 Australian business owners tend to work harder not smarter. They tend to feel that no one can run their business like they do – and that’s untenable. Particularly when it comes time to sell. 19.03 Saleability of a business; a business is worth a lot less if the owner has a LOT to do with it. 22.47 Dru talks about the process of doing a typical appraisal and valuation on a business. It’s an in-depth look at how he pulls in the information and gathers a list of potential buyers across the country. 28.24 His number one goal is to be selective and put your business in the hands of the right people. Dru says a savvy younger generation are buying businesses and setting them up to sell from the outset! 30.30 Are you building something that you can move on from with ease and do so profitably? It doesn’t have to be for retirement. It could be a sudden health issue. Personal change like a divorce. If you can set it up so you are not personally critical to the business, it can be sold at ANY time! 32.00 You should be at a point where you can sell at any time. 32.50 Work on your own mindset by allocating at least an hour to yourself – go surfing, walking, and make sure you’re eating. Go to work knowing you’ve given yourself valuable time and now you can give your best to the business. 37.00 If you’d like to reach out and find out how you can ‘remove’ yourself from the business to improve it, email firstname.lastname@example.org for more information on today’s podcast. EPISODE SUMMARY There’s a lot to take away when considering your exit strategy; namely the ability to extricate yourself from the everyday and trust good staff to run your business for you. Remember; your business is worth a lot less if you have a huge hand in how it’s run. There’s little saleability if you are the lynchpin to all the good that goes on! Shift your mindset so you can build your business by building your people. Show them that they are valuable, and they will reward you. You can step away to constantly re-evaluate and grow your brand. A win-win for everyone!
33 minutes | Dec 14, 2022
Ep 95: WHY you should Evolve Your Brand - Coaching Conversations
EPISODE IN BRIEF Today, Nick and Chris get into the nitty gritty of evolving your brand. Are you hustling to make sales and ensuring you remain profitable at the expense of developing your brand? Have you given thought as to how you can create fame for your business – and to hero your brand for extra sales leverage? Today’s episode of Coaching Conversations is more of the terrific Up-Coach wisdom we need as we wind down an enormous year and gear up for the next… Time Code/Show Notes 0.26 Intro: Business coach experts Nick Psaila and Chris Herbert put some context around the notion of building fame for your business. 2.15 Nick looks at examples of evolving brands including Harley Davidson. HD is more about the lifestyle than the bike – yet the bikes have evolved in 2022 with new models that retain their heritage HD aesthetic with a Gen Z edge. 5.52 Outdated tropes include best service – cheapest prices. Everyone does it – or says they do it. It’s not a valid USP anymore. You cannot lean on these common propositions alone. Nick talks case studies; McDonald's, Nokia and American Girl. 9.53 Evolving does not mean changing your whole brand; it means deep diving into the psyche of what the consumer wants from your product or business. The evolution of McCafe or Uber Eats for McDonald's. The evolution of Taxis - with score ratings to combat the growth of ride-share companies. 11.25 Perception is real – and 80% a done deal. Websites must be ultra-slick. Travel industry sites have to supply current video / real photos / walk-throughs – the perception must be 2022. 15.20 Listen to your customers/clients. Look at your own Google reviews and compare to your competition. 18.32 Perception is key to evolving your brand. It’s a powerful thing to consider just how your brand looks to the wider world. 19.52 Nick wants us to consider the tastes of our audience. Look at the way spa baths have evolved – there are now spa pools that seat 12! Tap into the needs and wants of your clients. Evolution is key – products like mobile phones used to have a six-month shelf life on average. Now it’s six weeks. 24.49 How do you interact with your audience? How do you keep current if you don’t know what they want? Do they want personalised service? Do they want to be left alone? How do you get that information? 26.40 Case study; Ikea and the evolution of kitchen supply/installation 28.00 When you observe your client’s needs and wants, you can begin to evolve the way you service them. But in doing so, do NOT lose sight of your own personal visions. Don’t change so rapidly that you lose who you are. What can you do to be that little bit “extra” ? Case study; World Cup 2022 in Qatar. 32.00 If you’d like to know how a business coach can help you evolve your business, email email@example.com for more information on today’s podcast. EPISODE SUMMARY Three main take-aways from today’s episode centre on getting to know your client needs and wants. People change - and their needs change. It’s as simple as that. Failure to recognise your customer values means failure to evolve in any sense. Don’t ignore your customer. Perception is the deal breaker. What you look like, feel like, how your brand speaks to the world – in person, online, across your marketing. And think about how you can freshen up your brand without losing the essence of why you went into business in the first place. Evolving your brand is all about asking your customers “what do you want’ and adjusting your brand accordingly.
22 minutes | Nov 30, 2022
Ep 94: Collaboration vs Competing in 2023 - Coaching Conversations
EPISODE IN BRIEF Today, Nick and Chris talk discuss business trends in 2023 and how collaboration can be a vastly superior strategy to competing in non-busy periods. How do we, as business owners, lift each other up and truly get through tough times together? By looking differently at your two biggest outlays of rent and wages plus cash flow and materials, you’ll see a wider picture and a new way forward in 2023 when things are slow. Today’s episode of Coaching Conversations is just the motivation we need to feel good about contingency planning as we go into this challenging period for small business. Time Code/Show Notes 0.26 Intro: Business coach expert Nick Psaila and Chris Herbert talk cherry picking AND cherry pick ways to ultimately increase cash flow in 2023. 2.30 Global economies will play a role in how businesses will need to shift mindset. 4.30 When you have gaps in your workflow and jobs are pushed out, what are you going to do with your workforce? 5.25 Increase your opportunity to take on more work by looking at geographics – you could combine two businesses together in different regions. Inter-collab the size of two workforces with different assets to take on a job you’d never otherwise tackle! 6.32 Ever thought of combining with another firm to buy materials? Buy in volume – store it – or everyone takes their share. Brilliant! 7.45 Stumbling blocks of mindset include ego-driven road blocks to fear of loss of business – but if you look at it from the perspective that you weren’t going to get that business anyway – and you’ve created an opportunity by shelving competitiveness – what an extraordinary outcome! 8.25 Collaboration helps with positioning. By borrowing expertise from the other company, you’ve now created new opportunities that were not previously possible and outwardly you’ve changed the offerings of your business. 11.05 Working with a non-competing but similar operation, you can share human resources – send your team to help out – expose them to another workspace – place them where they can make a little extra money. Sub out your staff – it’s a win-win for everyone. 15.45 How will collaboration manipulate your cash flow? Why pay the team if they’re not ‘producing’ – sitting around on the job – cleaning out the shed for a few days? Go in clear – contracted -lend them your guys – make it reciprocal. Collaboration with another business can be clever if you do it right. 18.20 Form the working relationship first and work your way into talking about your similar struggles. Start small. Build trust. 20.23 Work smarter not harder, collaboration is the way forward. 21.20 If you’d like to know how a business coach can help you seek collab with like-minded businesses, email firstname.lastname@example.org for more information on today’s podcast. EPISODE SUMMARY Finding a complimenting business to yours can be the beginning of a wonderful and profitable new working relationship. Open up new opportunities to earn and you can also re-position yourself as a company that offers more. Remember, a non-competing stance will help with job placement and you’ll expose your team to a new workspace or job skill. And finally, give your cash flow a kick-along by parking your ego and forming a trusted collab – it can be a win-win for you, your employees and the partnered business!
22 minutes | Nov 22, 2022
Ep 93: Knowing `Which Hat to Wear When’ - Coaching Conversations
EPISODE IN BRIEF Today, Nick and Chris discuss `what hat to wear when’ as you go about running your daily business. How do you break down responsibilities and roles? Are you still wearing every hat (as you did from day one?) This episode asks you to consider the number of hats you wear daily; from your business leader hat to sales…. to your recruiting hat. Learn how to rewire your thinking so that you save money by delegating the jobs you have outgrown! It’s an eye-opener – so simple, yet so challenging for dedicated business owners. See how you can begin to let go or change hats in today’s installment of Coaching Conversations… Time Code/Show Notes 0.26 Intro: Business coach expert Nick Psaila and Chris Herbert talk about business hats and why you need them. 1.20 Your role needs to be evolutionary. You must grow incrementally, change, evolve, and swap the hats you wear as you need them. Some you’ll be able to give to someone else, and some hats you’ll always have to wear yourself. 4.40 Nick uses the NDIS as an example of how an organisation may delegate who wears which hat at what time… 5.59 How do you know when to give that hat to someone else. How do you know you’ve owned that role for far too long? When you see that system is more powerful than you, you will realise you are not pivotal to that particular role. 7.40 Don’t find yourself in the business where you have become hostage to various roles that sap your energy and well-being. Have you fallen in love with your captor? Can you take 2-3 weeks off without it affecting your business? Have you made a monster of this ‘relationship’? 10.00 Are you making excuses for your business? Do you believe that no one else can do what you do? Do you make excuses to get out of social situations because you ‘can’t take any time off because of the business’? 11.52 If you feel like you are wearing too many hats, you probably are. 12.30 What are you really worth? Is your time worth taking an hour out of your day to do the mail run – or to pick up extras from the hardware? Can someone else wear that hat!? Think about your personal hourly rate and note what you would save if you sent someone ELSE to do that errand. It’s a simple but empowering exercise! 14.10 What hat must you always wear? Your hat of Leadership and Training. 16.20 Do you wear your Marketing hat well or can you delegate this important lead-generating role? 16.55 Finance Management: if you don’t wear this hat accurately, the ATO will. Be across it. You can’t leave this hat on the nightstand. You cannot allow your bookkeeper to wear a financial management hat. 18.07 Operational management: this is less about systems and more about people. A hat you must wear. A hat that evolves over time as you give back to your company. 21.20 If you’d like to know how a business coach can help you change your ‘hats’, email email@example.com for more information on today’s podcast. EPISODE SUMMARY Knowing `which hat to wear when’ begins with knowing your role in the company. Where are you today… and what role needs to be filled? Secondly, how much are you worth to the business? This awareness helps you realise how important it is to delegate and free up your valuable time. And the leadership hat. Wear it with gusto and pride; you are the leader of quality control and training. It’s your business to uphold the standards. Thinking deeply about the evolution of your role - and the business itself – will give you the greatest idea of which hat to wear or when to pass those hats on to others.
38 minutes | Nov 11, 2022
Ep 92: Sean Wilson - EVOLVE Upperlimits Mastermind
Time Code/Show Notes 0.35 From the Evolve Upper Limits Mastermind with Sean Wilson from Better HR. 1.20 Sean introduces his role inside Better HR and how the company strives to be the best in industry. 4.10 Why is Human Resources so important to the success of your business. Your employees and your contractors are all part of your workforce; anybody in your business is part of your HR. 5.42 Australia has some of the most complex HR laws in the world. 6.00 Your people are your most important asset. They are also one of your biggest operating costs. Hire the wrong people and at worst, you’ll destroy your business. 7.01 In this country, HR and Employment Law are intertwined. The Fair Work Act is 800 pages long; you can have one staff member or you can be the biggest fast food empire on the planet, you will still have to comply with the same laws. 7.30 There are over 122 modern awards; this determines your pay rates. So, make sure you are paying your people under the correct award. The fines are huge; a fair work inspector will not be kind. Get systems in place so they move on to the next audit pretty quickly. 11.02 Think about how you hire people. Do you just slap an ad together with a basic job description? Are you scoping that role properly, because it is vital. How do you determine the right person for the job and are you keeping proof that they are the best for the role? 12.05 Sean discusses the difference between an Unfair Dismissal Claim and Adverse Action Claim [you didn’t give me the job because of my gender]. The onus of proof is on different parties. You must keep some records to be able to defend claims. 13.51 Job Descriptions; have them. Keep them up to date. A position outline helps you performance manage your employees. Work out the pay rate. 15.40 Right To Work Checks; can be as simple as asking for a birth certificate. The fines can be enormous. Check current qualifications. 17.15 Why you need employment contracts for every employee… 18.05 Most businesses find themselves settling outside of court as they realise just how much it will cost when an employee has a gripe. 19.30 Do you provide your employee with the tools of the trade to do the job…be mindful what you specify in a contract as you’ll lose your flexibility to remove it. 21.45 Policies and procedures; have them and review them regularly. So many businesses don’t have them in the first place; bullying, sexual harassment, working from home; workplace health and safety. Have policies in place and make sure your employees know they exist. 24.50 Paying your staff; make sure you spell out all the inclusions, all the details and make sure you’re paying them on time. Do you give pay slips to your workers and do you give them within one working day? 27.54 Get familiar with the National Employment Standards. Have your workers been given a Fair Work Information Statement… 31.00 Keep records. Sean emphatically recommends that you keep records of ALL documents; keep a record that your staff have seen the relevant information. The fines are heavy and retrospective if an employee makes a complaint. 32.32 Superannuation and compensation. 34.25 Exiting workers lawfully. Giving lawful notice and final pay. Keeping good HR records, diaries and notes. 37.20 Serious food for thought? Hit up upcoach.com.au for more.
27 minutes | Nov 11, 2022
Ep 91: Natasha Marsh - EVOLVE Upperlimits Mastermind
Time Code/Show Notes 0.35 Evolve Upper Limits Mastermind with Natasha Marsh from QMS Services. 1.10 From studying a Masters in WHS to auditing and working with the NDIS, Natasha’s professional purpose has been to help as many people as possible. 2.12 QMS Certification Services; who are they and what do they do. 2.40 If you’re in building and construction, health and fitness or education, there are opportunities within the NDIS. There is a market screaming for investors. 5.00 Natasha overviews certifications and why each one can be important for your business when applying for tenders or contracts. 6.36 Opportunities within the NDIS; bricks and mortar/property. Funding is available for high-need participants and low-needs NDIS participants who live in share houses. This is called a Group Home so participants can live independently. 9.20 If you build a property you can lease it out to a registered NDIS provider. There is money to be made. 11.05 The need for SDA [specialist disability accommodation] is increasing. There is currently 20,000 participants eligible for SDA funding and only 7000 dwellings currently available to them. SDA participants deserve integration into society and this will help to avoid becoming institutionalised. 14.30 Shockingly, 271 million dollars was allocated in participant plans to SDA - yet only 7000 dwellings exist for just 20,000. In Queensland, there is just 76 approved providers to build SDA accommodation. Again, there is money to be made here. 16.20 Could building SDA dwellings become your core business… 17.20 What does it mean to become a registered provider of SDA in Queensland. What are the steps you can take and how can you pass the audit. You do not have to be in construction to be interested in contributing to NDIS. 20.18 QMS is a quality organisation setting itself apart with strong ethics and warm empathy. It’s about building relationships and helping people as much as possible. 22.45 How can 100 percent Australian-based QMS help you become certified? They will get to know your business and do it quickly – they can turn audits over rapidly. They run on a skeleton staff because that’s all they need. 25.10 Overheads are reduced and audit reports add value you to organisation. No hidden fees. Lots of constructive observation. QMS does things differently. 26.50 Inspired? Hit up upcoach.com.au for more.
47 minutes | Nov 10, 2022
Ep 90: Gary Bigelow - EVOLVE Upperlimits Mastermind
Time Code/Show Notes 0.35 The Evolve Upper Limits Mastermind, presents Gary Bigelow `If it aint broke – break it’ … 1.40 Gary opens with some nostalgic working memories and a case study in how he saved a business 7K a week by deconstructing it and making it work better. The brain of an engineer will tell you that this is the solution every day. 6.50 The story of the IBM kid who demanded he was paid a fee for every single PC shipped. The kid who created Microsoft drove a company that in 2022, earns 198 billion a year in revenue. 10.20 If it aint real, fake it; aka. fake it, until you make it. Learn to sell your capability. Convince people that you can do a good job for them. 12.44 Body language; from the power poses of Mick Jagger and Usain Bolt to the everyday body language of the people we interact with in business… 16.45 Would you buy from yourself based on how you present; how you stand, sit, walk and conduct yourself in a meeting… 21.10 Gary shares the story of an encounter with a squirrel at Moose Lake, Canada. 25.00 What happens when we fail to break the un-broken… what happens when you sit in your comfort zone. Gary shows us how business growth stagnates when we fail to move. 26.58 Stagnate and your competitors will overtake you rapidly. You’ll become irrelevant. Gary talks about software from the early seventies through to the early noughties and how corporations become irrelevant if they are inflexible. 32.00 Don’t refuse to break the model – Kodak is another infamous example of a market leader who failed to embrace new strategies, stayed within its comfort zone, and did not take advantage of the digital age. 34.10 Nokia became another victim of stagnation in the early noughties; a mega company that failed to break the standard. Xerox also went the same way. They declared their future was in copy machines and failed to adopt digital technologies. Huge fail. 39.50 How did Disney go from creating classic film ….transforming sideways to owning a streaming service and buying franchises like Star Wars… they kept breaking and innovating. Just as Amazon and Apple have done. Steve Jobs was fired because profits were flat-lining. Now a 387 billion dollar company, Apple makes the bulk of its revenue through sales of the iPhone. Yet Apple has now become a software and content retailer to move forward successfully. 46.39 Inspired? Hit up upcoach.com.au for more.
50 minutes | Nov 9, 2022
Ep 89: Dru Morgan - EVOLVE Upperlimits Mastermind
Time Code/Show Notes 0.35 In this episode from the Evolve Upper Limits Mastermind, Dru Morgan of Morgan Business Sales talks about what you need to know before you sell your business. 1.25 An overview of Dru’s business acumen and rapidly scaling expansion into international markets. 3.45 How can you make your business high value and easy to sell. 4.43 The canoe analogy is worth revisiting. Don’t paddle it faster, the intelligent owner is outside his canoe to re-sand it and think about how to win the race. Work smarter – not harder. 8.00 Case study; the business owner who took his grandfather’s advice and did nothing inside his business except start with 500 dollars. He has a staff of 40 plus and sold it for over a million. He 100 percent leveraged the power of others. 11.47 This is an amazing story of a man who worked less than 2 hours a day OUTSIDE of the canoe. It is an example of how easy it is to sell a business where everything is set up - no training required – all systems in place. Having a plan can make scaling your business easier. How you can replicate what you do in other markets. Scale only works if you have a niche and you are working it from outside of the canoe. 13.30 Dru explains why he can’t sell a business if the owner is critical to it. You must have a smart team so you can remove yourself and let someone else run it. 16.30 Success is based on a ‘group’ of talents, not your own individual talent. Aim to put your faith in other people – this is easier said than done. 19.00 People first – business second. This must anchor your core set of values to retain the best people. People are more important than profit – your staff and your customers. Your people must know that they are your first priority. You will never lose them. 22.00 Relationships matter and staff should be enjoying themselves. Go the extra mile and bring in the champion’s mentality. Have more values. Let your staff live the life they want. Staff will always choose values over money. 26.50 Talk to your staff about values. If the heartbeat is strong, everything else will grow. 31.05 Thinking about a time frame for selling your business…. it changes for different industries. But how long does it take to transition out of your business…. try 12 months? And you won’t be handcuffed to your business if you put your faith in smarter people. Remember you can only build an empire if you’re on the outside. No one built an empire by doing all the jobs themselves. 35.40 How is your income generated? If you’re on the golf course every day and your business is ticking over nicely, it’s invariably an attractive and sellable business. Pay staff more rather than offering them ownership. 39.00 Once a year, you should invest in a valuation of your business. It’s a great exercise in how you are tracking and how the money is generated. It’s not the money you are making - but how it is generated. 41.30 Dru talks about the best time to sell up. From retiring to changing direction simply because you need a change or you’re not happy doing what you’re doing. It can be approximately a 2-year process to set up a management structure and get it to a sellable position. Think forward, think ahead – but get out of the canoe to do it. 45.30 Giving without asking for anything in return can provide pivotal, life-changing direction in business. It will come back to you. Give is gain… 47.00 Exit with Success is a planning e-book with a whole lot of videos and top-shelf advice from Dru and his team. 49.50 Inspired? Head to upcoach.com.au for more.
41 minutes | Nov 9, 2022
Ep 88: Chris Herbert - EVOLVE Upperlimits Mastermind
Time Code/Show Notes 0.35 In this episode from the Evolve Upper Limits Mastermind, Chris Herbert dives deep into sustainable entrepreneurship. 1.20 Chris begins with an interesting case study about Ben, a business owner `on the tools’ with a hard-working ethic, but little cash and no clear vision of what success looked like. 8.00 86 percent of Australians are experiencing a level of burnout. On average, we have stockpiled 16 days of annual leave and we are not taking holidays. 9.20 Australians rate themselves just over four out of ten for work-life balance. We are all clearly struggling to switch off, to find ways to be with our loved ones/to do the things we love outside of our business. 12.00 The discussion turns to the question of ‘why do we all work so hard’. Money, self-esteem, societal norms, control and fear are just a few of the answers. 15.25 Draw your own success circle and realise that money does NOT determine success. How can you strive for a level of harmony when you spend a great portion of your life at work…. 18.30 Think about how you can create more `time’. Focus on working on ‘big rocks’. 21.10 Execution; communication is paramount, how often do you chat with your partner and NOT speak about work? Do you compromise…. do you put your work first, failing to seek compromise which then brings conflict? 26.20 Compassion; it bridges the gap when you put yourself in ‘their shoes. 27.20 Family; have rules. No phones at the dinner table. No business calls taken after 5.30. Carve out time. Be present. Your kids will remember. You also have to roughly plan your weekend – you’ll have a more fulfilling family life as a result. 29.40 Memories; be more present. You in your family’s life – that’s all that matters. 31.15 Sleep; it’s important. There’s a reason you feel tired. Listen to your body. Exercise – to get the best version of you. Make sure you are eating well; make lunch, invest some time into eating better with a meal prep delivery. Prioritise. 35.00 Mindset. Feed and fertilize your mind as you would a garden. Plant the good seeds. Reading, listen to podcasts, become effective and learned. Build the best version of you. 36.20 Ask yourself; how much does it matter to you? What can you do to achieve work-life balance faster? Is work more important than your family… how much does your partner need from you… 37.10 If you’re not right – nothing is right. ‘Progress = Happiness. Just a small step each day. Think about what defines your level of success and you’ll realise it’s the little things that count. 40.01 Inspired? Hit up upcoach.com.au for more.
23 minutes | Nov 7, 2022
Ep 86: Guy Whitcher - EVOLVE Upperlimits Mastermind
Time Code/Show Notes 0.35 In this episode from the Evolve Upper Limits Mastermind, Chris welcomes Guy Whitcher. Today’s conversation gives you smart strategies to grow your business. 1.20 Business owners find they are often sitting in the same canoe when they should be spending time with their loved ones and doing things that fill their cup. 4.00 Using the analogy of juggling the needs of multiple children, what do you do in business when you run out of hands… you look to your people. 5.10 Look at maturity for the task to determine how capable someone is to do the job. Remember, they must be willing to do it – and it’s only for a small part of the overall activity. Guy tells the story of a 15-year-old tasked with a job that he simply could not do because he lacked maturity for the task. Leadership styles as follows; 9.55 Style One – Directing. You need a leader who has a directing style to help out a newbie. 12.15 Style Two – Teaching. It’s giving guidance and encourages a two-way conversation. 14.07 Style Three – Participating. It’s a conversation; this person knows what they are doing. 15.20 Style Four – Delegation. You can trust them to do the job with a minimal overview. 17.55 How do you know when someone is capable and willing to do a task…. observation works - but asking them outright is much better. 19.38 If you underestimate someone’s abilities and tell them what to do, you are risking animosity as they will perceive that you no longer trust them to do the job correctly. 20.00 Don’t default to a leadership style that does not fit the person. 20.31 Guy talks about the best way to lead people… 21.30 How does this relate to holding the hands of your people…you have to understand how each individual functions. How they learn… how they grow – so you can then grow YOUR business. 22.00 Your hand-holding should progress through the styles as your employee progresses in skill and confidence. 22.23 Put in the hard work at the beginning and it will reward you in spades. 23.00 Inspired? Hit up upcoach.com.au for more.
57 minutes | Nov 6, 2022
Ep 85: Todd Hazelwood - EVOLVE Upperlimits Mastermind
0.35 Listen to the Evolve Upper Limits Mastermind with professional racing car driver, Todd Hazelwood, who explores the natural synergy between high-performance motor racing and a high-achieving business mindset. 1.10 Todd shares his back story and childhood passion for motor racing from a tender age; the sacrifices made between each step, the progression via scholarship, the fundraising and relentless drive to raise funds to race throughout the majority of his youth. 8.10 How do you find that extra gear to do the things you love? 9.20 Races are not won on the racetrack – they’re won in the workshop. Preparation is KING when determining how you can be better than your opponent. 13.10 How does one go from hobby to obsessive life goal? Todd speaks with Nick about how to build momentum from that lightbulb moment. Avoid negative talk. Make your obsession your life; let nothing get in the way of your winning spirit. Have a goal and do not sway from achieving it. Value the support of your people, your family are a priority. 16.10 Inspire your team with your own unwavering passion for success. Motivate and support each other; no one has the finger pointed at them. You only get a sore neck by looking backward. 20.50 Your staff can see your commitment and are reassured; in motorsport, no one is higher on the chain. Spinning spanners on a race car involves sacrifice when you’re essentially part of the `moving circus’ on the race circuit. 24.00 Setbacks; how does Todd use mental toughness to overcome adversity and create trust in his preparation? 27.56 Bathurst; Mental prep and mindset before and during one of the world’s most famous racing events. Hydration and physical prep begins 2 weeks before race day – it’s the most expensive weight loss regime on the planet. You can’t expect to drive the wheels off your car if you’re not mentally and physically prepared for the unexpected. 32.22 The business of motorsport is about winning – but it’s not everything. Winning on track is not the same as winning off track – where you are heavily reliant on your people – you have to look after your people who are so committed to you and your dream. Without the support – the fans – you don’t have a sport. How can you make everyone feel valued and valuable in your professional world? 36.35 Having someone who can support you in both good times and bad is priceless. Surround yourself with successful people. 38.15 Nick shares his views on holistic and physical health. Todd shares his physical health commitments within the motor racing business and leading into race meets. Be your own self-critic. Are you fit enough, are you strong enough, are you smart enough? Raise the bar – and imagine what that success looks like. 42.30 Todd believes success is 80 percent mental toughness and 20 percent physical/skill based. 47.00 Appreciation for those who help you achieve success – show it, value it, value them. 52.30 The three elements to success according to Todd; Communication is super key… followed by passion and anchored by hard work. Make your passion greater than your ability. 56.33 Inspired? Hit up upcoach.com.au for more!
78 minutes | Nov 6, 2022
Ep 84: Nick Psaila - EVOLVE Upperlimits Mastermind
EPISODE NOTES: 0.35 Evolve Upper Limits Mastermind Episode 6 with Nick Psaila showcases a new way to tap into a smart mindset to evolve your business… 3.45 Stop playing too small. You are the universe, you are omnipotent and omnipresent. You must be present and play the game to infinity. Become more. Start playing at the next level. 10.30 The Memetic Virus is the selfish gene and is not open-solution-based thinking. Smart thinking is an attitude of change; to the betterment of your life and those around you. 13.45 Nicks shares his views on re-invention. On changing your direction, on avoiding stagnation. Being a ‘tradie’ is not limited. You’re an artist, you’re a craftsman. Think big. 14.20 Delegation; how to be efficient in everything we do. Letting go. You cannot be the be-all-end-all for your business. 16.45 `Your accountant knows the numbers’… is not good enough. You need to be across more than the basic numbers of your business. 17.45 Do you really need to be on-site? Stuff still happens; you’re not that important. Get feedback from your people. 19.30 How do you create a central point of information for your staff? The client does not always want you – they want a result. This is limited thinking; you have a whole team who can help you. Stop being a martyr. Traditional thinking no longer works if you want to grow. And grow you must – or your competition will be all over you. 23.40 A group-think reveals concepts that challenge the traditional mindset. 27.50 From retaining good staff to making decisions on the spot, the hive mind puts forward some powerful solutions based on past negative thought patterns. 33.45 `What if you train them and they leave? What if you train them and they stay? 38.40 `My way or the highway’. Change the way you do things by shifting your identity. You are not a tradie with a business – you are an entrepreneur. 43.38 What if you had an E.L.F business… exciting, lucrative and fun. It doesn’t have to be fire and brimstone. Life is short, don’t make things difficult. 46.05 It’s not what you have; it’s what you become. Money is one small part of the equation. The glory of living is rising every time we fail. It’s not what you’ve been dealt; it’s what you do with it. 50.35 We are what we repeatedly do. And don’t wish it was easier; wish you had more skills, more knowledge, more ability. LEARN. MORE. 52.30 How do you spend less time working on your job and more time working on your fortune? 54.50 It’s not about making money; it’s about making TIME. 57.00 Grow yourself not to compete. Do whatever it takes, give it your best. You have nothing to lose, life is SHORT. 1.02.00 The mind-hive collates the changes they will make to begin the ‘evolve’ process. 1.05.00 Time is the number one takeaway. Can you imagine a more precious commodity? There is none. Time is everything. 1.06.33 Letting go and recognising that your business is its own beast; sharing your vision with your people is so important. Step back and your staff can strive for their own goals while growing your company. Allow them to feel the pride and responsibility of making your success, their success. 1.10.40 Stop ignoring the most important things in your life. What’s a quote worth versus a conversation with your precious child? It isn’t even in the same galaxy. Give your family TIME. Give your kids your ATTENTION. Get your priorities STRAIGHT. 1.13.15 The most valuable thing your employees can give you is their time; so respect theirs. They are giving you precious hours – months, years of their life – to work for you. 1.14.11 Holidays. Let your staff grow. Give them time off. Let them recharge. 1.15.14 Leverage experts to do the things you don’t like or can’t do or can do cheaper than you. So you can leverage more TIME. 1.16.00 You are the source of all change. You could be one step kinder, more fun, happier, smarter, a better boss, a better parent… you can walk away and rise every time you fail. Take a page from the life book of Nelson Mandela. Be the change you want to see in yourself and others. Nick knows the only way is up. And you can live this truth. Begin now. 1.17.15 Inspired? Hit up upcoach.com.au for more.
41 minutes | Nov 6, 2022
Ep 87: Geoff Day - EVOLVE Upperlimits Mastermind
Time Code/Show Notes 0.35 In this episode from the Evolve Upper Limits Mastermind, Chris introduces Geoff Day. Today’s topic covers how to implement strategic planning for accelerated, exponential growth. 1.46 Geoff’s opens with a story about a business turning over 30 million – and over four years, how he helped them grow revenue to 60 million by facilitating a clever, strategic plan. Define where you are now - define a clear vision forward - review and adapt as you go. 4.00 The four phases of strategic planning begin with assessing your situation right now. Take the time to ‘get out of the canoe’ and ask the question. 2. Determine a strategy to get you where you need to go. 3 Build a plan. 4 Manage performance 6.10 Geoff gets granular on identifying challenges and strategic issues. Do this immediately. Get customer insights. Why do clients like doing business with you. Similarly, employee input is hugely important. SWOT analysis’ are still just as valuable today. 11.30 Take the time to delve into your strengths and weaknesses. 13.25 Geoff shares the story of progressing a football club by looking seriously at weaknesses and involving more people in the planning process. 18.00 Do not underestimate the power of the collective brain's trust. 20.23 Threats. Look at what is likely to happen in your external environment. What’s happening now – what’s coming for you? Be honest. Will artificial intelligence impact your industry? 22.20 Put your team in front of a whiteboard, ask for zero judgement, and record what you hear. 24.00 Key focus points should also include diving into your mission, and determining your values. Use your business vision to answer these questions. 27.45 Competitive advantage. What is your competition doing – be aware but not obsessed. Stay in your lane and identify your competitive advantage to solidify your position. 30.50 Value statement and plan building is all about deconstructing your SWOT and setting your goals. 32.36 Give some thought as to how you will monitor your progress and adjust as you go. 32.53 Build your budget to support the strategic plan. 33.15 Once you’ve reached this stage, you must learn to manage your performance effectively. Ensure it is well communicated amongst the group and that the review process is either monthly or quarterly. 36.20 Seek out new tools and apps that exist to help you build and track your strategic plan’s success. 37.00 Geoff recaps how you develop a strategic plan over four phases. You need formal perimeters within your own business to achieve more success than you are now. 39.25 Strategic planning is a two to three-year horizon. Start now. 40.00 Inspired? Hit up upcoach.com.au for more great content.
23 minutes | Oct 23, 2022
Ep 83: How Givers Gain - Coaching Conversations
EPISODE IN BRIEF Fresh from the UpCoach Two Day Mastermind event on the Gold Coast, Nick and Chris talk more about the Giver’s Gain principle. Giving first and giving something of value – without expectation of return – is a powerful business tool. If you replace expectation with appreciation, all parts of your life will change. Nick calls them `Connection Credits’… and this episode is all about building value through relationships and generosity. There’s a lot to take-away from today’s Coaching Conversation so let’s get into it…. Time Code/Show Notes 0.26 Intro: Business coach expert Nick Psaila and Chris Herbert break down the elements behind the Giver’s Gain ethos. 1.33 The principle of Giver’s Gain is to give something without the expectation that you shall receive something in return. Ivan Misner speaks of the profound advantages of Giver’s Gain with referrals – sooner or later it will come back to you. The concept was later formalised in the book The Psychology of Influence. Nick shares insight on the Hari Krishna. 5.30 How can you invite this principle into your business… it’s the idea of the `free sample’ or complimentary consult. 7.30 Remember, the principle of the Giver’s Gain is that the ‘bonus’ you give does not have to be a physical product. It can be as simple as advice. It must, however, represent value. 8.30 Free information is a great example of Giver’s Gain in business. Your advice can be via EDM, audio, in the form of a face-to-face consultation that costs nothing. But it must be meaningful. 9.15 Nick talks about business ‘karma’. A big part of the equation is the more you help others, the more you help yourself. 10.50 Tony Robbin’s `appreciation over expectation’ is a great mantra to follow. 11.30 Cultures that give to each other without expectation, thrive. 13.00 Be generous with your expertise or product. To give without receiving. See how that feels. But then you must eventually have the courage to ask for the sale/signature. 80 percent `give’ and 20 percent `ask’ is a fair structure. The principle is not to feel used but to be the first to ‘give’. 18.50 Give with genuine intent even though you may find some people are sceptical. Like attracts like – you’ll attract those people who genuinely like to give as well. 20.20 The Giver’s Gain principle cuts through to feelings of gratitude instead of the simple act of survival/putting out fires. It presents happiness as an option. It brings meaning outside of money-making. 22.36 If you’d like to know how a business coach can help you integrate the Giver’s Gain principle into your business, firstname.lastname@example.org for more information on today’s podcast. EPISODE SUMMARY Giving without the intention of receiving anything in return is an age old principle that is simply good business. Showing you care can mean you receive more in ‘karma’. But ensure the care or advice is valuable. When you run with the Giver’s Gain principle you subscribe to the notion of appreciate over expectation. If you make a difference to someone’s life, you will be `their top-of-mind person’. This is not about feeling used, it’s about building a relationship where you give first. Reciprocal energy exchange is important. So keep giving and the rewards will eventually be yours.
18 minutes | Sep 26, 2022
Ep 82: Nick chats with Veronica from Ultima Building Group - Coaching Conversations
EPISODE IN BRIEF If you’ve ever considered partnering with a business coach, here’s a success story that will knock your tradie-socks off. Nick invites Veronica from Ultima Building Group to share her insights. Ultima is a motivated, high-end residential building company in Sydney; a business built from scratch by Veronica and her builder husband Chris. Veronica’s passion is infectious and her message echoes the Up Coach mantra of `doing what you love’. Channel the motivation of an energy-inspiring episode of Coaching Conversations…. Time Code/Show Notes 0.26 Intro: Business coach expert Nick Psaila speaks one-on-one with Veronica from Ultima Building Group. 2.30 From a humble carpentry business to recognising a need to deliver more than partner trades, Ultima evolved into a full-fledged building company. Transparent honesty and `client first’ mentality drives their every action. 4.00 Energy and fun flows through the story of Ultima. Essentially, the desire to deliver an exceptional client experience increases their enjoyment of the business – and success naturally follows. 5.20 Veronica explains the importance of ‘home’ and what it means to her family. The experience of dealing with a small builder creates excitement from slab pour to landscaping. It’s individual. It’s fun. It’s far from the ethos of the hair-tearing, churn-`em-out multi-national building companies. 6.20 Challenges are always present - from planning and preparation to handover – it always takes a huge amount of work to keep everyone – staff and clients - feeling positive. Particularly in the last two years. Communication is key. 8.20 Veronica talks about the systems and processes that increased their business and grew the company three-fold. 10.20 The decision to seek out a good business coach is an easy one when you hear how effectively Ultima integrated new ideas and actioned new systems. It’s an investment in ‘the business’, a valuable deep dive into the mindset of how you see your professional self. In the building game, there’s a lot of competition and supply chain issues – and virtually no one ready to help you. 14.00 The end goal for Veronica and Chris is to have the company running like clockwork 24-7, without the need to ‘hover’ over jobs or be onsite all the time. 15.29 If you are reticent to pursue business coaching, Veronica offers up some questions…. What is it that you think you need to change – and how do you plan on doing that by yourself… 18.30 If you’d like to know how a business coach can improve the way you do things and grow your business, email@example.com for more information on today’s podcast. EPISODE SUMMARY In 2022, having a successful business that runs semi-autonomously is a common goal for many business owners. And Ultima Building Group is well on its way to achieving this. Veronica and Chris’ boutique building company has leaped from strength to strength with a coaching style that sits comfortably alongside their passion for client service. This new direction turbo-charged their well-spring of energy to create beautiful homes, servicing their clients with attention to detail and scrupulous honesty.
20 minutes | Sep 26, 2022
Ep 81: Owning the Racecourse (not the racehorse) - Coaching Conversations
EPISODE IN BRIEF If owning the race course – and not the racehorse – hits you right in the entrepreneurial bread basket, you’re going to love this latest coaching conversation… It’s all about revenue streams and casting that net wide – but only after proving your business has what it takes for at least, 6 months of steady, consistent performance. So, let’s start thinking about what you can do with your business in terms of growth and greater expansion – and enjoy new ideas in this episode of Coaching Conversations…. Time Code/Show Notes 0.26 Intro: Business coach experts Nick and Chris shoot the breeze – and slide into the curious but brilliant race course metaphor that covers multiple streams coming into your business…. 2.30 The racehorse only wins money if it runs a place. And it can lose its currency when it is injured or scratched. The race course earns revenue through everything from the turnstile – to food and bev – to car parking….multiple revenue streams…. You need to extend your income streams to avoid the pitfalls of having one racehorse. You need to own the racecourse. 3.20 Nick says having all your eggs in one basket – or investing in just one racehorse – is setting yourself up for failure. You can add to your income streams by having multiple clients or adding to your product. 5.10 You must first look to stabilise a proven track record for your business. Ensure an abundance of leads, conversions, and a team that operates successfully. Get your processes right so it’s sustainable month on month. Nick advises a six-month period to prove that whatever you are doing, is working. 7.48 Look at multiple streams of leads with the same product. 9.00 Alternatively, you can add complimentary services to the business. Consider what compliments your ecosystem. 12.50 Efficiency. Hospitals and airports are held aloft as fine examples – as much so if not more, than a racecourse. Airports do not service just one airline. They have more than one café. 14.30 With these considerations, you need to look at your marketing. Is it all in one place; are you running the whole ship based on a small team; or are you the racehorse itself…. 15.20 You must own the greater scope of what your business can provide versus just selling one product or supplying one service. 15.50 If your business is ticking over efficiently, now you can start thinking about the race course - and really start aligning with the thinking of growing your business. Nick urges everyone to look closely at 3-D printing. Robotics is coming in a big way. For example, Uber in San Francisco is testing driverless deliveries. 18.30 If you’d like to know more about owning the whole ‘race course’ email firstname.lastname@example.org for more information on today’s podcast. EPISODE SUMMARY To understand and build your racecourse potential, you must first prove your track record for sustainable month-on-month operation. You must then re-evaluate that you are not the business owner masquerading as the ‘`racehorse’. This means you must never put all your eggs in one basket. Multiple income streams are more likely to prove your business in an uncertain economic future. Working to be profitable; smarter, not harder, is as always, the key. And moving towards building a racecourse, in case your ‘horse’ stalls at the barrier, is the best advice you’ll hear this year.
20 minutes | Sep 19, 2022
Ep 80: Nick chats with Matt Gillard from Sammat Education - Coaching Conversations
EPISODE IN BRIEF If you’re looking for fresh ways to look at business as we head towards Christmas, get ready for brilliant real-life advice. Today’s conversation will dive deep into the ways professional business coaching has helped Sammat Education help teachers and schools integrate technology into the classroom. Matt from Sammat is a ‘rock-star’ of the Up Coach stable and his insights are both empowering - and realistic. Enjoy this candid eye-opener in yet another cracking episode of Coaching Conversations…. Time Code/Show Notes 0.26 Intro: Business coach expert Nick Psaila introduces Matt from Sammat Education. 1.00 Matt is a former head teacher and deputy principal with in-depth knowledge of how to teach professional learning with the use of technology in primary schools. 2.57 Sammat is working with both teachers and students. Matt speaks of light bulb moments when teaching students; the aspect that drove him to teaching in the first place. 4.05 How would you go transitioning from a job to your own business? There’s an incentive when you’ve created that new business to support your new gig – which is what happened for the first five years. But with more schools on board than Matt was able to facilitate, something needed to change to onboard new staff. 5.25 Turning his new gig into a ‘proper’ business, came with a fair share of stress. Matt dived into research via books, audiobooks, podcasts and business coaching with Nick and Up Coach. He is still making that entrepreneurial commitment to bettering himself and those around him. 8.15 Matt encourages you to use your downtime – your time in the car - or between appointments - to listen to podcasts, to educate yourself. There is no excuse for the lack of information in 2022. Fill your head with positivity. 9.00 Don’t waste time on things that can be automated. You’ll save 30-40 hours a month - look at that seriously when it’s 50 dollars an hour. 11.00 Books can only take you so far; Matt says having a business coach beside you holds you to account. 11.50 Covid closed all schools in 2020 and this had a huge emotional impact on Matt and his business. They pivoted and did some online stuff that got them through - and recorded a 20 percent increase on the previous year. Matt puts it down to having systems in place and different income streams. 13.35 Matt firmly believes he would have been out of business without the systems he learned through Up Coach mentoring. He is now pandemic proof and controls the flow of work – and there is a lot of it…. 14.40 Continuing to grow his online product will help Sammat go international. Targeting teachers in any English-speaking country will be the goal. 16.20 Time off is so important; watching his kids grow up, and family is paramount. Matt works hard to spend time with his people. 17.25 By Matt’s own admission, Sammat has some ‘really cool’ technology for learning at home – for age 4 up to 18 years old. 19.45 Reach out if you can see a business coach in your future; email email@example.com for more information on today’s podcast. EPISODE SUMMARY Learning what a successful business looks like is the first step to professional self-awareness. The up-shot is to educate yourself by reading, listening and ultimately making yourself accountable with a great business coach. Independence, dedication and willingness to take risks and roll with the set-backs, are vital to growing your business and your own personal resilience. Business coaches can intrinsically help you live these values.
18 minutes | Sep 14, 2022
Ep 79: Nick chats with Tim & Jane from Aloha Surf Manly - Coaching Conversations
EPISODE IN BRIEF There’s nothing like a real-life success story for business inspo and today’s podcast will give you a real insight into how Tim and Jane from Aloha Surf, Manly have sold ‘natural endorphins’ for over 30 years. They are frank and honest about their challenges – and the way they have kept the passion over three decades – as a couple and as a business partnership. There’s a lot to take away in today’s revealing episode of Coaching Conversations…. Time Code/Show Notes 0.26 Intro: Business coach expert Nick Psaila introduces Tim and Jane from Aloha Surf 1.55 Why do you do what YOU do? Tim talks about getting into the surfing game and why. Not surprisingly, it’s all about passion and loving what you do. 3.15 Tim discusses the changing demographic of his business customer but admits he still has a loyal decade’s old base that now includes children and grandies of former clientele. Jane talks about the changing demo of Manly itself and the ‘Bob Hawke Surfing Team’. Not to mention, the world-stage facelift that has taken surfing as a sport to another level. 5.10 Survival for Aloha meant moving with the times and COVID encouraged Tim and Jane to be more proactive with their online business. Customers discovered ‘its easier to find a park on your phone, than it is to find a park outside Aloha Manly’…. 6.25 Tim explains why merch quality is so much better than it used to be so buying decisions are less risky when buying goods unseen. 7.25 Jane is candid about her working relationship with Tim. Splitting roles between sales and finance helped when they had a family and Jane studied, but it is no longer practicable as the world has changed. 9.00 There are many reasons to require a business coaching partner and Jane graciously shares her side of the story and why Nick has helped both their business and their relationship. 10.30 Tim explains how having a coaching partner brings them together as a team. Jane talks about the value of listening to new directions from a third party. Nick is not the bad cop – he’s the ‘make-it-happen cop’. He keeps them accountable. 11.58 A business coach is someone who can give you scaffolding or a framework no matter how many years you’ve been in business. You may have all the skills, but you can be pushed in different directions. Increase your strengths and minimise your weaknesses. 15.20 When you pay someone to inspire and re-direct your best efforts, you do so. 15.40 Tim talks about his ultimate goal and it includes tapping out after all the hard work is done. To have everything in place so that someone else can do it. To ‘go out in style’. 17.00 Reach out if you can see a business coach in your future; email firstname.lastname@example.org for more information on today’s podcast. EPISODE SUMMARY Learning how others face business challenges allows us to think objectively about our own. Tim and Jane have stood the test of time because they eat, breathe, and sleep surfing and its people. Their staff come from all around the surfing world to create what they call ‘The Aloha Family’. In short, they do what they love and they valued their lifestyle and business enough to keep that love alive by enlisting the help of a business coach like Nick Psaila. There truly is, no better recommendation than word of mouth, is there.
20 minutes | Aug 28, 2022
Ep 78: Your Ideal Exit Strategy (explained & simplified) - Coaching Conversations
EPISODE IN BRIEF In today’s episode of Coaching Conversations, Nick and Chris travel into the future to where the exit strategy for your business thoughtfully exists… or does it… Exit strategies are vitally important as part of your future vision and far from being scary, they’re an inevitable fact of life – and every business. There are plenty of good reasons why you’ll need an exit strategy and this podcast will step you through the processes of identifying and creating a get-out plan that will work for you. There’s a lot to consider in today’s episode of Coaching Conversations…. Time Code/Show Notes 0.26 Intro: Business coach experts Nick and Chris discuss all things `exit plan’ … you’ve got to have one… 1.40 We all know that there are other things than `work’ but often it’s impossible to imagine a life outside our business. There’s an exit plan during the journey – i.e leaving the business while you’re in it - or after – when the business has dissolved. Rather, think of it as exiting the ‘business owner’ – not necessarily selling the business. 2.30 Here’s why Nick says you must do it – not simply consider it – you must plan an exit. The business cannot be ‘stuck’ functioning only around `you’ – and if something happens to you, what next… Think about the ‘why’ – why are you in business, what’s the motivation, what’s the passion. And what happens after your working life ends? Having a purpose is vital. An exit plan is about exiting yourself from the business. 5.55 Now think about what life would look like. Can you envision going from working 95 hours a week… to working twenty? How can you work your way into working four days a week to begin the ‘exit’… can you plan for 50 weeks on – 2 weeks off… increasingly incrementally… Can you plan to have a long weekend every ninety days… believing the wheels won’t fall off, staying close by if you’re unsure? 9.00 In you’re planning, you MUST have a redundancy system. Have someone ready to take up the baton if something goes wrong. 11.50 Ease yourself into it by having something you’ve always wanted to do. A hobby, a road trip. Don’t go cold turkey. You must 13.10 Start thinking about this now. How will you begin and how will you measure your effective exit strategy? Nicks speaks of his goal to travel around Australia, the prep involved, and how he may back off from coaching for a short while to make it happen. 14.38 Ask yourself the big question; when will this happen? It doesn’t have to be a hard date but it should be a date range. Time is short, life is shorter. Make the most of planning what is important to you outside of your current daily grind. 16.30 Re-position your outlook. Chris reminds us that you don’t have to sell your business, rather step away from it. If it works well and you don’t have to be there, happy days. 16.00 Find out more about how you can develop an exit strategy that works for your business at email@example.com EPISODE SUMMARY If you’re looking at longevity for yourself AND your business, the re-cap is simple. Plan. Planning ahead is key. You must be thinking forward now, no matter how involved and passionate you are about your business in this moment. Plan immediately. Even if you’re arrested in the grind of the day-to-day, this is about planning your happiness, your fulfillment, and your life outside of the workspace. Make time to consider what you want out of these years of toil and success. There is nothing more important.
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