Business Coaching

Free Business Coaching and Business Mentoring

I was horrified to find in my post yesterday a letter from leading business services firm Deloitte & Touche a letter that threatened my economic and moral position by offering free business coaching and business mentoring in the Birmingham area (where I live and work.)

My Moral Dilemma

Do I stay true to the purpose of my blog in bringing you developments within the business coaching industry together with the best high impact, low cost business development solutions?

At a time when I am developing my custompreneur ideas (customer focused entrepreneurs) which is based on putting the needs of the customer first, can I hold this information back?

"To Thine Own Self Be True"

It seems appropriate to turn to local hero, William Shakespeare (Hamlet for anyone interested) for guidance.

I truly believe in the importance on focusing on the needs of the long term interests of the customer and "what goes around, comes around" so you can see for yourself my response.

I have gritted my teeth and decided that I must stick to my values, even if that means telling you about a business coaching service which reduces my opportunity for income.

High Growth Business Support Programme

Birmingham City Council is funding the new High Growth Business Support Programme until June 2009 which is "a fully funded programme designed for high growth businesses based in the Birmingham area to benefit from bespoke coaching over a 10-12 month period.

The majority of the business coaching will be done by the Academy of Chief Executives (who I wasn't familiar with until yesterday) and will focus on the personal development of the entrepreneur and business management teams.

Requirements

The entry criteria are:

1. Trading period of at least 6 months
    
2. Small and medium sized enterprises with proven annual turnover, growth and capability.

Showcase Events

If you are interested in finding out how you can have a free business coach, there are two showcase events to present the benefit of the programme to high growth local businesses on 26th of March and 29th of April 2008.

More Details of the Free Business Coaching

Telephone 0121 696 8546

Email bcchighgrowth@deloitte.co.uk

Website www.birmingham.gov.uk/enterprisecity.bcc 

Is It Right To Use Government Funding To Alter The Competitive Balance?

We have had this problems for many years in the business coaching and small business advice industry.

Successive governments want to encourage small businesses and the enterprise culture to develop so they pour tax payers money into subsidising services that the private sector already provides.

There have been some success stories but most of the time, I hear from people who have not been very impressed with the government sponsored small business initiatives.

Hopefully this business coaching scheme will be different but I do feel that it is unfair competition and would love to hear anybody's ideas on how I can compete.

Clearly if this free business coaching is successful in Birmingham, it will roll out across the UK and threaten far more business coaching firms.

How Do I Compete Against Free Business Coaching?

If you read my business coaching blog then you will know I have some concerns about the traditional "trading time for money" basis of professional services where the entrepreneur carries the risks.

I offer my clients the option of choosing a "payment on results" basis where fees come from the extra profits that are generated by the business so that if the coaching works, I am well rewarded.

If it doesn't (and personal chemistry and individual responsibility are essential) my business coaching fees are zero on the basis that the business has not seen a tangible benefit.

This does mean that I need to be quite fussy about who I choose to work with since:

1. The profitable opportunity has to be there - it it isn't then both you and I are wasting our time.
    
2. There has to be a commitment to measurement.
    
3. There has to be a real desire from the entrepreneur to want to move forward and therefore a willingness to try new things.
    
4. The business has to have a vision for the future.
    
5. The entrepreneur / business management team have to be nice people who I can trust.

My approach to business coaching is based on the Eight Pillars of Business Prosperity.

I still believe that this is an attractive proposition for entrepreneurs. It shows that I am entrepreneurial and that I believe in their business.

To Your Success

Paul Simister

Your Profit Coach, business coaching for customer focused entrepreneurs

Guide To Finding The Right Accountant For You

I would like to help you find the right accountant for your business, particularly if you are a young, start-up business.

Download guide_to_finding_the_right_accountant.pdf

I Can Help Because I Am A Poacher Turned Gamekeeper

I trained and qualified as a chartered accountant in the early nineteen eighties with Neville Russell (now Mazars) in Birmingham, UK. It was and still is a Top 20 national accountancy firm although Mazars are bigger in Europe.

In 1985 I moved into a finance role in industry and in 1995 I started my own business consultancy firm. In that time I've experienced a lot of accountancy firms accountants ranging from 3 of the Big 4 to smaller local firms as the client or representing my client.

I offer a part time Finance Director service through my website and have eight experienced qualified accountants around the country keen to provide proactive financial management advice.

In this guide I share what I've learnt so that you can find the accountant you need.

How You Will Benefit From Finding A Good Accountant

It's very easy to think that all accountants are the same.

It is easy to think that one accountant is as good or as bad as the others. The service is dominated by the need to comply with laws, rules and accounting standards and qualified accountants are regulated by the professional Institutes and Associations.

That would be a mistake.

There can be a vast difference between people's technical skills and their commitment to client care and service.

1. Your accountant will recommend accounting and book-keeping software so that you can record your transaction in an orderly fashion. Some even give free accounting software as a way of attracting new businesses although that shouldn't be your main reason for choosing an accountant.
   
   A good accountant will guide you in how to set up your accounting system so that it gives you the information you want and provides the information they need to prepare your accounts and tax returns.
   
   Other accountants will leave you to make your own mistakes and charge you a fortune at the end of the year to correct it. If you get your book-keeping right at the start, the job is relatively simple but if you get your records in a mess, it can become a very expensive nightmare.
      
2. A good accountant will help you create a reporting system that accurately reports your transactions and gives you a good indication of your performance in the business.
   
   With the benefit of accurate results you can then focus your attention on the areas that need improvement.
   
   Other accountants will leave you to set up your own reports, despite the fact that you probably know very little about Profit & Loss accounts, balance sheets, cash flow forecasts.
    
3. A good accountant will explain the limitations of the easily available information so that you don't make decisions on false information. Based on this the accountant will help you to decide whether monthly or quarterly accounts (prepared or reviewed by them) are necessary for you to control your business.
   
   Other accountants will let you continue to use bad information.
      
4. A good accountant will explain the tax rules and regulations to you so that you don't unwittingly fall into a trap or overlook a key step or deadline when dealing with your employee taxes, your VAT (sales tax) and your corporation tax.
   
   A good accountant will remind you of the tax deadlines in good time for you to meet them.
   
   Other accountants won't keep you updated about deadlines so when the crunch comes, you may be late in producing critical tax returns and subject to fines.
      
5. A good accountant will explain how you can reduce your tax bills legally and legitimately by taking advantage of any allowances and allowed expenses.
   
   Other accountants will let you pay to much tax, or even worse give you bad advice that leads to tax arrears and penalties.
      
6. A good accountant will be able to recommend a part time book-keeping service or may provide a book-keeping and payroll service themselves. This is a great help to any small business or start-up because your time is probably better spent looking for customers.
   
   Other accountants won't care that your book-keeping is in a mess. It just means more money for them at the end of the year.
      
7. A good accountant will encourage you to write a business plan so that you think about how your business is going to compete and develop in the future. If required the accountant can prepare the financial forecasts (based on your assumptions) and help you to negotiate a bank loan or overdraft.
   
   Other accountants will see your business as your responsibility and just react when you ask for a service.
      
8. A good accountant will be able to help you in other areas of the business or will know a good business coach, consultant or adviser who can help.
   
   Other accountants are not interested in helping you to develop your business and won't give referrals, even when it is clear that you need help.

Where To Look For An Accountant

1. Ask someone you know and trust to see if they can recommend an accountant. While their needs and personality will be different from yours, it is a good start.
      
2. Look on the Internet and do a search on accountants + your local area. Check on the firm size (the number of offices is usually a good guide). The general rule is, the bigger the firm, the more expensive the service.
   
   Does the website create the right impression? Is it professional but with personality?
    
3. Many accountants still advertise in Yellow Pages or Yell.com, either under their own name and under their professional association.
    
4. The Institute of Chartered Accountants Directory Of Firms is available on the Internet here. This allows you to search for an accountant based on location or speciality. Chartered accountants pay an advertising fee for an enhanced listing.

Questions to ask an accountant or tax adviser

I have shown you the difference between a good accountant and the rest.

The next task is to help you to find the good accountants.

While you are unlikely to have the ability to test their accounting and tax knowledge, there are questions that you can ask to make sure that you get the service that you want.

Your first meeting with a prospective accountant is usually free of charge. If anyone proposes charging, I would see this as an indication of the type of relationship they expect.

This is your chance to find out about their firm and how they can help you. For the accountant, it's a sales opportunity - their chance to convince you that they are the logical choice as your accountants.

1. Is the accountant qualified? If so, what is the qualification?
   
   Unlike solicitors or doctors, the term "accountant" isn't protected in UK law. Anybody, regardless of their knowledge, experience or training can set up in business as an accountant and some do.
   
   Look for a firm of chartered accountants (FCA, ACA, CA), chartered certified accountants (FCCA, ACCA) or chartered management accountants (FCMA, ACMA).
   
   The F stands for "fellow" and A means "associate" so a newly qualified accountant becomes an Associate and when they have a certain amount of practical experience they can apply to be upgraded to a Fellow.
   
   The chartered bodies (it means that they have been given a Royal Charter to practice the profession) have very demanding entry qualifications in terms of exams and experience.
   
   They also have strict ethical standards for the way the accountants act and deal with clients and require members to have continued professional development and professional indemnity insurance.
   
   If you engage a firm of "chartered" accountants and you feel that the accountant has behaved unprofessionally, you can complain to their institute or association who will investigate. If found guilty, the accountant faces severe punishment - large fines, public censor in front of their peers and even expulsion if they have committed a serious offence.
      
2. Does the accountant specialise in a particular type of client?
   
   Some accountancy firms specialise in particular trades or industries while others specialise in a particular size of client (eg limited companies with £1 million turnover, self employed contractors.)
   
   The smaller accountancy firms have many small clients. If you expect your business to grow quickly, check whether the accountant's services can grow with you?
   
   If the firm has specialised in particular trades, does that fit your business? Is there an advantage in finding a firm that specialises in your industry or is that a disadvantage?
    
   You may think it's a good thing for your accountant to specialise in your type of business or may prefer that your accountant didn't have longstanding relationships with your three biggest local competitors.
      
   Confidentiality and conflicts of interest shouldn't be a concern. Your accountant will have a professional responsibility to you.
    
   Ask about the other clients. If most of them are larger businesses who pay much bigger fees, ask how you can be sure that the accountant will be interested in your small business?
      
   Have a look at their website and see if you gain the impression that they are targeting your size of business.
      
3. How many clients does the firm have and how many does your particular partner have?
   
   Traditionally accountancy firms have been partnerships and although some accountants now trade through limited companies. It is custom for the owners of the business to still be referred to as "partners".
   
   Find out if you will be one of a hundred or one of a thousand clients?
   
   Does it matter to you? Do you want or need personal attention from your accountant?
   
   Do you want your accountancy firm partner to have a good knowledge of your business? You can't expect anyone to know 1,000 clients in detail.
   
   To some people who believe in strong personal relationships, these questions matter greatly. Other people just want to know that their accountant will produce a good professional job at a competitive price.
      
4. Who will be your main contact with the accountancy firm?
   
   If the partner is not going to be the main focal point for your services, who will be?
    
   Accountancy firms have a hierarchy - equity partners at the top, salaried partners, senior managers, managers, supervisors, senior accountants, semi-senior and junior accountants and clerks.
    
   Do you like and trust the person who will be your regular contact? Are they qualified, experienced accountants, trainees or part qualified accountants who never made it passed the final exams?
      
5. Is the firm a registered auditor?
   
   Do you need an audit?
    
   An audit is when the firm of accountants are required to express an opinion on the accounts to say that they have been properly prepared in accordance with the books and records and that the accounts present a true and fair view of the financial performance and position of the company.
   
   The size range of companies that must have an audit has increased several times and most owner managed businesses no longer need to be audited.
   
   Do you want an audit?
   
   If you are an ambitious entrepreneur with big plans for your company you may want to have an audit from the start. It will help you to sell your business in a few years time.
    
   It could even influence your choice of firms. It will be more expensive but a big name standing behind your results could make a big difference to the value of the sales proceeds you receive.
    
   If you decide that you want to have your accounts audited, you must find a registered auditor.
   
   Because of the onerous conditions and the fact that the majority of the smaller businesses opt-out of the audit, many small firms of accountants are not registered.
      
6. How much and on what basis will the accountant charge their fees?
    
   Money matters but perhaps not in the way you think.
    
   For a basic compliance based service (accounts preparation, tax return, an audit if required) you want to be confident that you have been quoted a fair price that represents good value and you can compare fee quotes.
    
   But it's different for business, financial and tax advice.
    
   You have a cost and benefit ratio to weigh up.
    
   Do you want to pay £1,000 for advice that saves you £2,000 or would you rather pay £1,500 for advice that creates a gain of £5,000.
    
   It doesn't make sense to go for the cheapest business adviser in just the same way that you wouldn't choose the cut-price heart surgeon. Quality counts and it's results that matter.
   
   How does the accountant set the fees?
    
   There are two common methods - by the hour or a fixed fee for a defined service.
   
   The advantage of the fixed fee is that you will know how much you have to budget to pay and you'll be told what you will get in return. This may include a helpline for basic queries and problems but there will be conditions.
    
   The accountant will expect that you have maintained a clean, well documented set of books and you may be expected to do things at a certain time of the year.
      
   The tax deadlines mean that January is an extremely hectic month for many accountants because many people leave things to the last minute. Check whether there is any discount available if you agree to get your accounts completed for a different part of the year.
   
   You may also be asked to pay by direct debit or standing order during the year. Depending on the exact services you buy, much of the work may be done after the year end.
    
   Beware of fees that sound too good to be true. A fixed fee is for a defined service so watch out for all those little extras that get added to the bill.
   
   Check what their policy is for these extra cost services. You should be told in advance that if anything will cost more. That way you can decide whether you want to still to go ahead.
    
7. Can you talk to several of their existing clients?
    
   It is a good idea to ask to speak to several similar sized clients. If you are a new business, you could perhaps ask to speak to a client who started two years ago. You can then learn firsthand what the experience has been like and how the accountant helped that client to set-up and run their business.
    
8. Do the accountancy firm have partners who specialise in particular areas?
   
   Some accountants are known as "general practitioners" - they provide advice on accounting issues, taxation, auditing, raising finance and general business advice.
   
   Other firms have specialist partners and departments for specialist areas.
   
   There may be a tax partner who will advise on tax planning strategies.
   
   There may be an audit partner who deals with the larger clients and is the technical accounting expert.
    
   There may be a corporate finance partner who specialises in raising finance, acquisitions and disposals.
    
   There may be a business growth partner who provides business consultancy services.
    
   There may be an IT partner who specialises in helping firms select, implement and get the best out of your investment in new technologies.
    
   Which is better? It depends on what you need.
    
   My business coaching firm has the same issue - do you want a general business coach who sees the whole business or a marketing consultant and an operations consultant and an HR consultant to work on the separate parts?
    
   With specialists you will gain access to a deeper level of knowledge and experience but inevitably it complicates the relationships.
    
   If you talk to a general practice partner about a particular issue, that person will be thinking about the accounting issues, the tax issues and the business issues all at the same time and can give you a balanced opinion.
   
   If you go to an accountancy firm with specialists you may have to talk to three different people to get the same advice. You do tap into deeper levels of knowledge and get advice that you couldn't expect a general practice accountant to know. Specialists are often more expensive.
    
9. How can their services grow with your business?
      
   Consider how quickly you want your business to grow over the next five years. I usually find that the best guide to size and complexity is the number of employees rather than turnover.
    
   A very small business will usually just have their accounts prepared once per year for the taxman and if a company, for the shareholders and Companies House. When you have a small business you should still have regular measures in place - orders, sales invoiced, cash in the bank, cash flow and potentially many other measures.
    
   A big business will have formal management accounts prepared every month - profit & loss account, balance sheet, cash flow, turnover and margin analysis by customer and products, efficiency and cost measures and may even update its forecast each month.
   
   My research shows me that when companies get to around fifty employees, they will recruit their own qualified full time accountant as the Finance Director or Financial Controller. Sometimes I see firms with as many as 100 employees without a qualified accountant but it is rare.
    
   When you are small it's clear what you need. When your business is big it's again clear. The problem comes when your business is in the middle.
    
   I see three stages that companies go through before they are in a position to recruit their own qualified accountant.
   
   Book-keeper with quarterly accounts
   
   The business generates a lot of transactions and it needs to recruit somebody to keep the books and that job moves from part time to full time as the business grows.
   
   As the business grows in size it also grows in complexity - more customers, more products - and perhaps it now has a small overdraft or loan from the bank.
   
   It's probably been agreed that quarterly accounts are prepared and sent to the bank and the directors have a quarterly formal board or management meeting to review the accounts.
   
   Your accountancy firm is usually ideal to prepare the quarterly accounts which are usually a slimmed down version of your annual accounts. These are finished by the end of the following month. If possible try to get more analysis on where the action is - in your sales and margins - rather than long lists of overhead costs that are easy to control.
    
   Ask your accountant to come to the board meeting (they don't need to attend it all) and explain the accounts and highlight any issues.
    
   Alternatively ask for a written report that explains any issues or warning signs. You don't want a spreadsheet full of hard to understand numbers emailed to you with no guidance, explanation or advice.
    
   Does the accountant have a policy of teaching your book-keeper to prepare these accounts? Modern technology has made it simpler and with some training a good book-keeper should be able to produce you something meaningful unless your business is particularly complicated.
    
   The accountant can still be involved in the review of the accounts and the explanations and advice that arises from the accounts.
   
   The move to monthly accounts
   
   As your business gets bigger, the need for up-to-date financial control increases and you will need monthly management accounts.
   
   This is particularly true if trade levels are very variable or seasonal.
   
   Again your book-keeper and accountant may be a good way to produce monthly accounts.
   
   These should become more detailed and explain the variation in profits. The results should probably be compared to a budget or forecast that was prepared at the end of last year.
   
   This is the start of the formal "control" process - how did you do compared to how you expected to perform and most importantly if there is under-performance, what can be done to close the gap?
   
   It is essential that the time period to prepare these accounts is reduced. Within one month is OK for quarterly accounts but the standard guide for monthly accounts is within ten working days. Big companies can get it down to two days.
   
   The faster you get the information, the quicker you can start putting things right and the sooner you can see if the actions that you've taken are working.
   
   This is a really important point. Accounts prepared in five days give you 15 working days to take action before the end of the month and another 5 days wait to see if there is any improvement. There should be because the action plan will have covered up to 75% of the month.
   
   If you don't get the accounts until the end of working day 15, you've now only got 5 days to take action, a 15 day wait to see if what you've done works and an improvement period that at most is only 25% of the month. That will make it much more difficult to see what is going really happening.
   
   If there's little change from the previous month, did the problem get worse before now starting to get better? Perhaps the action plan isn't working? Perhaps random fluctuations (and there are random fluctuations in any business) are causing a false signal?
   
   You can see why big companies push their finance teams to get the numbers out quickly. It makes the business much more responsive to problems and opportunities.
   
   Part Time Finance Director
   
   Before you recruit a permanent qualified accountant, I'd recommend that you try a part-time solution.
   
   Your firm of accountants may offer a service under this name but generally I've found that it fits into the monthly accounts service explained above.
   
   There are a number of companies offering part time Finance Director services (including my own - see the register of part time Finance Directors) but the emphasis changes from reporting the past to influencing the future.
   
   It's a key difference.
   
   Too many businesses receive monthly accounts because their banks insist on them but the businesses themselves get little value out of the monthly figures.
   
   That's because the financial control loop isn't effective. If the accounts show that there is a problem, there needs to be action in the future to correct it.
    
   A part time FD will focus on understanding the business model - how it generates profit and cash - and encourage you to set short term targets and goals. The main tool is the forecast - how is the business likely to perform and what can be done to make it better.
    
   This part time finance director service is particularly important if the business is growing quickly, particularly complicated or losing money.
      
10. How easy it is to change accountants if you find that the service isn't up to standard?
    
    There's a myth that switching accountants is difficult.
     
    It isn't because this is an area covered by the institutes' professional ethics. There are professional courtesies involved and your new accountant will write to your old accountant to arrange the handover.
     
11. What can you do to reduce your accountant's fees?
    
    Just about every client moans about how expensive their accountant is, so ask what you can do to reduce your costs.
    
    The more information prepared by your staff that is neat and tidy, adds up and consistent with other information then the lower your fees.
    
    But beware of promising perfect records and then sending in three cardboard boxes full of receipts in no particular order together with a cash book that has no similarity with the bank statements. You can expect a much bigger bill because even junior levels of professional time are more expensive than your staff.
    
    If the accountant gives you one fee for the full service, ask for it to be broken down into the different elements. It's then much easier to compare different quotes and feel that you really are comparing apples with apples.
    
    What you can't do really do is select different services form different accountants but you may decide that the monthly helpline charge for PAYE and VAT queries isn't needed when you can call HM Revenue & Customs yourself.
       
12. What guarantees of service will they provide?
    
    An accountancy firm is just as much a service as anything else so you must remember that they work for you.
    
    What is their time commitment to producing your accounts and tax returns? I've emphasised above how important it is to get monthly accounts prepared quickly.
    
    Will they commit to responding to a phone call message in a reasonable time period. A common complaint is that it is difficult to reach your accountant because they are always in meetings with other clients.
    
    If it is a very small firm - a single practitioner with a few staff - ask what happens when the accountant is away on holiday and you need advice. Ask what would happen if they were to become ill and unable to work for a few weeks.

Questions To Ask Yourself About The Accountants You've Met

Remember you are the client and while seeing an accountant can be quite intimidating for some people, they are there to help you and you will pay for their services.

1. Did they seem interested in your business?
   
   Did the accountant make you feel that you had a fascinating business or concept?
   
   Did the accountant visit you or offer to visit your premises to see what you do or are all the meetings in their offices?
    
2. Did you feel that you could confide in the accountant?
   
   To get the best out of the relationship, you need to be completely honest and open with your accountant. You can't get the best advice if the accountant has only been given half the facts.
   
   But did you feel that you could talk openly or did you feel intimidated?
      
3. Did the accountant give you valuable feedback and advice on your business during your first meeting?
    
   Your first meeting is usually free but did you get any value out of the conversation? Did you feel that the accountant was openly sharing knowledge, thoughts and advice or was the person vague and non-committal because you aren't yet a client?
    
   If the accountant gave you advice, did it make sense to you? Were issues explained using words that you could understand or was it confusing, technical jargon? Did you feel that you were both approaching your business in the same way?
   
   Did the accountant challenge your thinking and make you consider issues that you hadn't thought about?
   
   If the accountant held back from giving advice, can you be sure that they have the right skills and attitude to help you in the future?
    
4. Did you have confident in their ability to give you the service you need?
    
   If you managed to build a special rapport with one accountant who seemed to have the right answers then that is a good start.
   
   As in any service business, it's about people first and the tasks second.
   
   If you were impressed with somebody's ideas, their passion for your business, their commitment to client service and welfare then I think you've found your accountant.
   
   They should send you a detailed engagement letter that explains what services you will get, how much it will cost and what you are both committing to do.
   
   They will also ask you for proof of identity information. This doesn't mean that they don't believe you but Accountants are required under the money laundering regulations to confirm exactly who it is that they are acting for.

Conclusion

Accounting and tax are technical subjects but you need to make sure that you choose an accountant with the right level of client care and service that you need.

Too many small businesses fail and often their difficulties lie in one or two areas:

1. They couldn't find enough customers to buy their products and services because their marketing didn't generate leads or they couldn't convert enough of the leads into customers.
    
2. They lost control of their money. They couldn't see how they were performing, either because they didn't have any information or the information was misleading. They didn't recognise problems early when they were small and easy to correct. They didn't realise that they were about to run out of cash until it was too late - see my posting Eight Common Finance Mistakes That Could Cost You A Fortune.

If you are the owner of a small business with a great accountant, would you leave a recommendation for your accountant please.

If you are an accountant reading this, do you agree with what I've written? If not what have I missed or where am I wrong?

Finding the right accountant will be one of the best decisions you make. I have tried to give you the benefit of my 25 years of experience so that you make the right choice.

Download guide_to_finding_the_right_accountant.pdf

To Your Success

Your Profit Coach

Paul Simister

Business coaching for customer focused entrepreneurs

Small Business Marketing Coach & Consultant Birmingham West Midlands

I am a Certified Guerrilla Marketing Coach and have worked as a consultant / coach since 1995. I specialise in helping small companies improve their profits.

But what does Guerrilla Marketing mean to you?

If you are not familiar with the work of Jay Conrad Levinson, the founder and Father of Guerrilla Marketing please give me a few minutes to explain.

I am NOT going to hit you with a heavy sales pitch that shouts HYPE at you. I think you are probably suspicious of overblown marketing and you don't want to use that kind of marketing in your business.

The cornerstone of the success of Guerrilla Marketing is simple:

Guerrilla Marketing Coaches specialise in low and no cost marketing techniques which deliver high impact marketing results.

Let me ask you three questions:

• Would you like to discover how to market your business without spending a lot of money?
     
• Do you want to find the hidden profits already in your existing customer base, just waiting for you to take action?
   
  
• Do you want to find easier and simpler ways to attract new customers at a lower average cost?

If your answers were YES, YES, YES then;

Please Read This Short Introduction to Guerrilla Marketing

Over 15 million copies of Guerrilla Marketing books have been sold worldwide and many universities offer Guerrilla Marketing courses. It success has made Guerrilla Marketing the best known small business marketing brand in history.

It all started in 1983 when Jay Conrad Levinson realised that all the marketing advice and books available were targeted at big businesses with massive marketing budgets.

These big companies could afford to say "half my advertising doesn't work but I don't know which half" and not worry about it.

When your marketing budget measured in millions it might not matter which half works but I know that it does matter to a small business.

A small business can't afford to waste thousand of pounds on marketing that produces little or no result.

I know that and you know that.

Over the last twenty five years Jay Conrad Levinson and the Guerrilla Marketing Coaches have delivered the benefits to small businesses that have made Guerrilla Marketing THE trusted brand for small businesses to look out for when they want or need marketing advice.

Guerrilla Marketing Is For Businesses On A Shoestring Budget

I was drawn to Guerrilla Marketing when I heard Jay Conrad Levinson say that "Guerrilla Marketing is for people with big dreams but tiny wallets."

That phrase really hit home for me and I hope it will for you.

There are no silver bullets or magic wands. Guerrilla Marketing uses time, energy and imagination instead of money and makes sure that all your marketing supports your message.

So What Is Marketing?

It may seem a strange question but too many small business owners see marketing as a small part or function in the budget concerned with advertising and sales promotion which becomes a self-limiting belief.

Let me set you straight.

Marketing is not a minor activity on the periphery of your success as an entrepreneur or owner of a small business that you can outsource.

Marketing is everything you do from the moment you come up with the idea of your business to when you create delighted customers who buy from you regularly.

Effectively marketing is your business!

Everything you do has a marketing impact in the way it affects how people see your business, sometimes in a good way but not always.

So the critical difference with Guerrilla Marketing is that everything you do is intentional and designed to create a positive impression on a prospective customer and reinforce the good impressions your customers have of your business.

Why Is Guerrilla Marketing Different?

Using Jay Conrad Levinson's words as a guide there are many ways that Guerrilla Marketing differs from traditional marketing.

1. Traditional marketing relies on spending money to promote a business. Guerrilla marketing says that you can spend money on marketing if you have it but you can also market your business by using time, energy and imagination.
    
   
2. Traditional marketing is mysterious, confusing and intimidating. Guerrilla marketing removes the mystique and shows you that marketing is a process for you to control.
    
   
3. Traditional marketing methods have been developed in big businesses. Guerrilla marketing has been specially designed for small businesses like yours.
    
   
4. Traditional marketing measures success in terms of brand awareness and recognition. Guerrilla marketing says that the main way for you to judge marketing success by your profits.
    
   
5. Traditional marketing is based on guesswork and hope. Guerrilla marketing is based on using psychology and the laws of human behaviour.
    
   
6. Traditional marketing encourages diversification. Guerrilla marketing emphasises focus on your core capabilities and your customers.
    
   
7. Traditional marketing encourages growth by adding new customers. Guerrilla marketing says you should grow geometrically by increasing the size of your average transactions, by encouraging customers to buy more often and by tapping into the referral power of your customers as well as adding new customers.
    
   
8. Traditional marketing focuses on making the first sale. Guerrilla marketing preaches consistent follow up after they have bought.
    
   
9. Traditional marketing encourages aggressive actions to smash the competition. Guerrilla marketing looks for partners to cooperate with.
    
   
10. Traditional marketing is "me" marketing while Guerrillas practice "you" marketing.
     
    
11. Traditional marketing focuses on what can be extracted from the customer. Guerrilla marketing concentrates on what you can give to your customer to make their lives better and to deepen the relationship with you.
     
    
12. Traditional marketing says that advertising works, having a website works, direct mail works. Guerrilla marketing says that the return on individual marketing efforts is reducing as the world is overloaded with commercial messages. What works is a combination of marketing methods.
     
    
13. Traditional marketers count money at the end of the month, Guerrilla marketers count relationships which are the key to long-lasting streams of profit.
     
    
14. Traditional marketing ignores technology. Guerrilla marketing embraces technology.
     
    
15. Traditional marketing talks to big groups and mass markets. Guerrilla marketing talks to individuals within a tightly targeted group because purchase decisions are made by individual people.
     
    
16. Traditional marketing is based on continually interrupting your thoughts. Guerrilla marketing builds on the power of consent to develop meaningful relationships.
     
    
17. Traditional marketing is a monologue, Guerrilla marketing is a dialogue so the guerrilla can respond to your needs.
     
    
18. Traditional marketing relies on the common marketing techniques of advertising (TV, radio, press), direct mail and the Internet. Guerrilla marketing has identified 200 Guerrilla Marketing weapons for you to use, many of which are free or low cost.

That is a long list but I hope that you know understand what makes Guerrilla Marketing so different and so successful.

What Are The Benefits Of Guerrilla Marketing?

The short answer is "a bigger business with higher profit."

How does it happen?

• More customers
   
• Who make more referrals
   
• And buy more
   
• More often
    
• With less wasted expense on marketing that does not work

The ideas are simple although not always obvious. The methods and techniques have been honed over the last twenty five years and include all the latest time and cost effective uses of modern technology.

What Are Your Specific Benefits?

Can I say how much you will gain?

No.

I don't know what you are doing at the moment, how much potential there is in your market, how good your competitors are or which marketing mistakes you are making.

So you won't be getting any "Increase your leads by 59.6%" promises from me.

I need to get to know your business and you need to decide to commit to applying Guerrilla Marketing techniques to your business.

It all starts with a telephone call to me, Paul Simister on 0121 554 4057 to explore the potential for Guerrilla Marketing to work in your business.

Consultancy v Coaching v Training

It can be confusing so these are the differences I see between a marketing consultant, a marketing coach and a marketing trainer.

A marketing consultant will do it for you. If you want a new advert, a marketing consultant will write it for you. If you want market research for a new product, a marketing consultant will perform the market research project. If you want a new brochure, the marketing consultant with write it for you.

This "done for you" service may be exactly what you want but it's not a service I offer.

There is a better way that makes you and your business much stronger.

"Give a man a fish and he will eat for a day. Teach him how to fish and he will eat for a lifetime."
Chinese Proverb

A "done for you service" is very convenient but it can be expensive and if you don't understand marketing, you find it difficult to assess the quality of the work supplied before spending a fortune on an advertising campaign.

There are two ways for you to learn:

A marketing trainer can teach you how to improve the marketing of your business in a series of seminars but you are left to implement the ideas on your own. You may be taught how to write a good sales letter but you will have to write it, review it and test it on your own.

A marketing coach teaches you how to improve your marketing but focuses on helping you to put the ideas into practice in your business. I may teach you how to write a compelling sales letter but we will agree that you will draft a letter and send it to me within 3 days (or whatever is reasonable). I will then review it and explain what is good but also suggest ways that the letter can be improved. This combination of accountability, deadlines and feedback makes sure that you get the job done and it is done well.

Do You Need A New Approach To Marketing?

Answer any of these seven questions with a Yes and you need to give me a call:

1. Are your sales mostly driven by price?
     
2. Do customers find it difficult to distinguish your products and services from your competitors?
    
3. Do you use unconnected sales and marketing methods and gimmicks.
    
4. You haven't written a coordinated marketing plan for communicating your message to your customers and prospects.
    
5. Do most of your sales leads come from your sales staff?
    
6. Do your longtime customers say "I didn't know you did that" when you ask why they are also buying from your competitors?
    
7. You haven't developed a customer or prospect database.  

So how did you do? Are you ready to call your local Guerrilla Marketing Coach, me Paul Simister on 0121 554 4057?

"......By bringing some really original thinking Paul has opened my eyes to new opportunities and even greater potential than I had imagined. He’s practical, determined, very creative and he’s given me back my motivation and enthusiasm. I now have a real sense that Paul is a member of my team and that together we are making things happen." Jiles Halling, Managing Director, Champagne Discovery 

So far I have not told you much about me. That's because too much marketing I see is "me, me, me" when it needs to be about your issues and how you can benefit, in this case by learning how to use Guerrilla Marketing to promote your business.

About Paul Simister BA FCA MBA Certified Guerrilla Marketing Coach

I have been an independent consultant and coach since 1995 working with businesses ranging from one man businesses through to head offices multi-national public limited companies.

I am a chartered accountant by qualification but marketing has been where my main business interests lie. It all goes back to my university days when I was studying for my degree in Economics and Accounting.

I knew that accounting was the language of business and I had to master it but unfortunately the degree was theoretical rather than practical so I took a trainee accountant's job here in Birmingham. Fortunately I passed the exams first time and more commercial opportunities opened up. While I was employed I held a wide range of commercial responsibilities including sales and marketing, warehouse, distribution and transport, production planning, purchasing and stock control.

What this means for you is that when you engage me, you have a marketing expert who knows exactly how profits and cash are generated and who has been indoctrinated in the idea that measurable results are what matter. No results, no point.

Payment By Results

Perhaps uniquely in the area I am prepared to put my expertise on the line and stand by a "payments on results" basis for long term assignments.

Other marketing consultants may charge you per hour or a fixed fee and while I offer that option I believe that if I am not prepared to go into a large assignment on a profit sharing basis, then you shouldn't be prepared to pay a fixed fee.

Does that make sense?

Either the opportunities are so good that I am confident that I can recoup my fees by sharing in your success or prospects are limited and we shouldn't be working together.

This is a different way of working and the profit share concept relies on you having your financial records up-to-dated and properly reported regularly so that we can set a baseline performance level (profits before shareholder/directors' salaries and benefits). Then any extra profits are shared between us.

Why do I offer this way?

Two reasons

1. I know that  people are scared away from taking much needed advice from business coaches and consultants by the high hourly rates with an uncertain return back to the company. Too many consultants ask you to bear all the financial risks.
    
2. I believe I can make more money. One good idea could make you a fortune but it may only take me an hour to explain it to you and show you how to implement it.

The downside of the profit sharing arrangement is that it is more complicated but you can be sure that my interest is very much in helping you and your business make more money.

So are you now ready to call me, Paul Simister on 0121 554 4057?

How Does Guerrilla Marketing Coaching Work?

I have plans to introduce group coaching in the future on local seminars and by teleseminars (please email me at paul@plancs.co.uk if you are interested) but at the moment my Guerrilla Marketing coaching is delivered on a one-to-one basis.

We will work through a structured process:

Week 0 - How to measure the results of your marketing. This is starting point. You want results and so do I. and that means measuring where you are starting from and knowing that we can monitor how the business develops throughout the coaching program.

Week 1 - Learning the basics of Guerrilla Marketing, analysing your business, researching your competitors and assessing your Guerrilla Marketing competences.

Week 2 - Developing Your Seven Step Marketing Plan

Week 3 - Choosing Your Guerrilla Marketing Weapons and taking a relationship inventory

Week 4 - Presenting Yourself With Impact - in person, in print, on the Internet and on the telephone

Week 5 - Developing Your Marketing Relationships With Others

Week 6 - Improving Your Marketing On The Internet (used correctly, a very low cost way to market to people searching for your products or services.)

You will be asked to buy the Guerrilla Marketing Toolkit which will provide you with the training materials you need to complete the six week program.

This way I don't have to teach you the Guerrilla Marketing ideas and concepts (which saves you money) and means that our time together is based on applying these techniques to your business.

This forms a basic introduction to Guerrilla Marketing, in effect getting your house in order and can be as far as you need to go.

The alternative is that with the sound foundations in place we push on to more advanced topics in Week 7 onwards when we will look at:

1. Persuading your customers to buy more
    
2. Encouraging your customers to buy more often
    
3. Incentivising your customers to give you more referrals
    
4. Attracting new customers to your business

Are you now ready to call me, Paul Simister on 0121 554 4057?

The Guerrilla Marketing Virtuous Circle

Magic happens as your learn more about marketing.

The more you understand the important concepts of Guerrilla Marketing, the more attention you will give to marketing your business.

This increased attention leads you to think of more creative and better ideas and leads to more effective marketing.

And more effective marketing leads to increased financial success for your business and the opportunity to receive greater personal rewards.

Call me Paul Simister on 0121 554 4057 to find out whether your business can benefit from Guerrilla Marketing.

If you are not quite ready to take that bold step to improving your marketing skills, I recommend that you sign up to my newsletter up at the top right of the page and you will receive two free reports:

• Marketing Secrets For Small Businesses (this is based on the Guerrilla Marketing concepts developed by Jay Conrad Levinson plus some additional ideas from another top American consultant, Jay Abraham
   
• How to win profitable business away from competitors

You will also receive a regular email newsletter (two to four times a month) packed with ideas for improving profits in your business.

Other Guerrilla Marketing Resources

There are many Guerrilla Marketing books now but the main one, recently issued in its fourth edition is:

Guerrilla Marketing by Jay Conrad Levinson

My Guerrilla Marketing coaching is based on the Guerrilla Marketing Toolkit - a great do it yourself introduction to Guerrilla Marketing for any small business owner who wants to learn the secrets of Guerrilla Marketing.

It makes a fantastic tool to base the one-to-one or group marketing coaching on because it takes away the teaching element as you can learn the material on your own. Our time together is then focused on how the Guerrilla Marketing techniques can be applied to maximum effect and benefit for your business.

Finally the Guerrilla Marketing Association -is Jay Conrad Levinson's membership club for marketing coaches, small business owners and managers committed to keeping at the forefront of the best small business marketing techniques.

How Does Marketing Coaching Differ From Business Coaching

Marketing coaching is a subset of business coaching which just focuses on the marketing aspects of your business.

For business coaching I use my own methodology called the Eight Pillars of Business Prosperity which draws on the ideas of major gurus and my own business experience.

You will see that marketing - defining your marketing position, generating leads, converting leads into customers and encouraging customers to become repeat buyers - represents four of the pillars.

To Your Success

Paul Simister

Your Profit Coach, business coaching for customer focused entrepreneurs

Online Business Coaching

With Christmas here, I have taken the opportunity to take a little break from work but I have just been going through some of my Google Alerts and I found this and it stirred me to action:

How To Move from Page 2 of Google to Page 1

It has some nice simple tips applied that the author has applied to Rich Schefren's Strategic Profit Site as Rich promotes Internet business coaching, the author looked at how he could boost ratings for a similar key word phrase - online business coaching.

I did a quick check and the author is correct - Rich Schefren and Strategic Profits don't feature for online business coaching on the first page (but the site is on the second page) but then to my horror I found that I didn't either - or at least not by the time I got bored of looking on page 5.

My Interest In Being An Online Business Coach

Helping companies to improve their use of the Internet is a growing area of interest to me, partly because there seems to be a great big gap in the market.

In my experience, too many web designers are interested are interested in producing pretty designs without focusing on the end objective.

Companies want websites that help them to increase profits and if your company owns a website then I hope you agree with the following:

• You want your website and/or blog to create attention and generate leads;
     
• You want your website to help convert general attention and awareness through the AIDA cycle - Awareness, Interest, Desire and Action;
   
• You want your website to help convert leads into orders by providing relevant information and education about your products, social proof through testimonials and case studies and to make it as easy as possible for your customers to buy.
   
• You want your website to encourage repeat business by developing a relationship with your customers so that they come back time and again.

Unfortunately too many website designers are techies rather than Internet marketers and the results are inevitable.

The Internet is filled with websites that people can't find because they are buried in the depths of Google or even worse, websites that people do find but turns people away from the company rather than encouraging them to become more involved and to make contact.

Website Audits & Reviews

As I said, this topic of making effective use of websites and Internet marketing is a fascinating area and I am looking at producing website audits and reviews as a first step in improving the results from existing websites.

This is still very much at the development stage but if you would like to know more and you are based in the UK then please email me, Paul Simister at paul@plancs.co.uk.

Please note - this service is restricted to the UK because my professional indemnity insurance only covers the UK. But that is a good tip in itself - if you are looking for a business coach, make sure that they do have professional indemnity insurance.

Am I Qualified To Be An Online Business Coach?

Good question so let me see if I can answer that.

My main business coaching website (which is due for a major overhaul and will be taken away from its current hosts because of too many restrictions) is currently ranked number 2 for business coaching in Google.co.uk and 15th on Google.com. This is despite the fact that since I started this blog, it has been starved of content and has not been updated regularly.

The Business Coaching Blog (where you are) is currently ranked number 1 for business coaching blog in both Google.co.uk and Google.com. Traffic is building rapidly although Christmas Day was my lowest recent day.

Internet marketing and online marketing has been a major element in my Guerrilla Marketing Coach Certification Program that I have just completed. Online marketing is a natural area for Guerrilla Marketers as an effective marketing presence can be built for a relatively small investment.

I am a big fan of Rich Schefren, the preeminent Internet business coach (or to use his phrase, Internet business maven).

I have also just invested in and received the Nitro Blueprint System for developing online businesses that are profitable.

It's probably fair to say that I am currently good, but my commitment for 2008 is to get much better at online business coaching and Internet marketing coaching.

You see, the same skills that are essential to make my business a success, both online and in the real bricks and mortar world, are also the same skills that will help you to succeed in your online business.

I am not an Internet techie. This blog stretches my knowledge of html and after upgrading to give me a chance to install Google Analytics, I ran back to familiar ground when I was told that I lost the WYSIWYG design.

A Second Idea - Does Online Business Coaching Mean Business Coaching Delivered Online?

I suppose it could?

The technology behind the Guerrilla Marketing Coach Certification Course was fabulous. We had regular coaching calls that were recorded with recordings available within hours and the forum is fantastic. I must find out more about it and this was the idea behind my thoughts on a Business Acceleration Program Mastermind Group.

If you are a possible business coaching client, would you prefer to receive an online business coaching solution (based on my Eight Pillars Of Business Prosperity) online rather than face to face or over the telephone? Please email me at paul@plancs.co.uk or leave a comment below.

If you are interested in third party solutions, it is worth taking a look at Rich Schefren's Business Growth System. You can see the long sales letter or my Business Growth System review (on my other blog). Rich has an outstanding reputation as the "go to expert" for Internet Marketing Enetrepreneurs.

I am always interested to hear feedback on my ideas and what potential clients want.

To Your Success

Paul Simister

Your Profit Coach, business coaching for customer focused entrepreneurs

Cold Turkey For The Business Advice Junkie

Do you buy business advice but struggle to turn that expenditure into a benefit for your business?

You may be a business advice junkie so take a look at my article Are You A Business Advice Junkie? where I look at the different responses that business owners and managers have to business advice.

While I make my living providing business advice I need to believe that my clients and readers of this blog are getting value for money from what they spend.

It is so easy

It is so easy to become a business advice junkie.

To keep looking for the next bit of advice that could make all the difference to your business without properly implementing the last bit of advice.

The sales copy is always so convincing.

The promised gains look so easy.

Big rewards are just over the horizon.

You just need to buy this next book, this next program or subscribe to another session of coaching calls and then the money starts rolling in.

I am speaking from experience here.

I understand about being a business advice junkie because it's a tendency that I have.

I can try to legitimise the way that I devour books and business courses as part of my research into developing the best business coaching program for my clients.

I can try to say that I am doing it as part of my plan for the Business Coaching Blog but I know that I read things, like them but don't do anything with my new knowledge.

I am looking to change.

But it isn't so easy.

I believe in learning.

I believe in taking time to think and plan.

But I know that success comes from taking purposeful action.

And unfortunately some people have a problem moving from learning to planning and then from planning to taking action.

What causes someone to become a business advice junkie? And how do you go Cold Turkey?

[Do you remember the horrific John Lennon/Plastic Ono Band song called Cold Turkey with the screams as someone struggle to break their heroin addiction. Fortunately curing a business advice junkie isn't nearly as bad.]

Unclear Vision Of Your Future Business

Do you have a crystal clear vision of where your business is heading in the next year or three years?

Are you clear on who your target customers are, what they want, what you are going to provide that meets there needs and how you are going to stand out from all the other people who are trying to tempt your prospective customers into spending money?

There is an old saying:

"If you don't know where you are going, any road Will do?"

If you are not clear on what it is that you want to achieve, then you haven't decided what you are not trying to achieve.

That means that you can see all kinds of different opportunities, each with their own challenges.

But which should you follow?

What do you need to know to succeed?

Do you already have expertise in those areas or do you need to learn?

Is it something that you really care about and commit to?

Which opportunity gives you the best chance of success?

The dangers of being an opportunity seeker rather than having a clear direction and strategy are very well covered by Rich Schefren in the Internet Business Manifesto (just click on the link for a free copy).

It seems that this is a particular problem for Internet entrepreneurs who can't find their niche and instead, are lulled into too many "get rich quick" schemes that are expertly marketed.

If you are unclear about where you want to take your business then this is your first task, to find your passion.

Take a look at my Ways To Improve Your Business in 2008 Part 1 as it will help you find your direction.

Leveraging Strengths Or Improving Weaknesses

This is an interesting area, especially for small business owners who don't want to spend money to pay someone else to do tasks that they think they should be able to do.

If you need a direct mail letter should you

a) just write a letter and send it out,

b) learn about copywriting by reading at least one book or doing a course

c) hiring a professional copywriter?

Each is tempting but each has its disadvantages:

a) the letter may perform badly so you waste your money and the time it takes to send out enough letters to be sure that it is the letter and not the sample of prospective customers you sent it to. A response rate of 1 or 2% is often considered good so it may take 500 or 1,000 letters before you can gain sufficient evidence that the letter isn't going to do the business.

b) it will take time to find the best copywriting book, to get it delivered and then to read it. For the business advice junkie, the danger is that you then become intrigued by the art of copywriting and want to learn more, so you buy another book.

c) how do you know that you are hiring a good copywriter and how can you assess whether their work is up to standard. This is a topic addressed in Killer Copy & Ruthless Hitmen.

In practice there is a balancing act between doing high value work yourself, doing low value work yourself and subcontracting work to other people.

But I am jumping ahead of myself.

After you have found your long term vision you need to identify what is required to achieve that vision.

Identifying Your Critical Success Factors

This is a technique that I really like but it's the first time that I have covered it in a blog posting.

Critical success factors are the few key areas (usually around about seven) that individually it is necessary to do each well to succeed but together they are sufficient to deliver success for your business.

By identifying your critical success factors you will have found your unique formula for success.

My eight pillars of business prosperity give you a guide but it is my generic coaching system that has been designed to move any business towards success but you can do better by making the issues much more specific to your type of business.

Some of my eight pillars are not going to apply to your business, or at least not in the same importance while there may be compliance issues that require to be included because failure can have your business shutdown immediately.

Just try identifying your critical success factors with a pen and a piece of paper.

Ask yourself "what things must I/we do well that are individually necessary but together sufficient for the business to be successful?"

I find it useful to start each sentence with "We must..." or "I must..."

If you have done it then congratulations. You have now found your formula for success.

These are your most important areas that you need to focus your attention on. Everything else by definition is less important because you have identified the critical things.

Measures & Targets

Now that you know your critical success factors, you have to decide how you are going to measure performance.

You have said that good performance is essential for your business success but how are you performing?

Take each critical success factor (CSF) and define at least one measure.

For example you may own a health club and two of your key success factors could be:

1. We must attract new members to join the club.
    
2. We must have a high number of renewals from existing members.

To be profitable you need a certain number of members and, the more members who keep renewing their subscription, then the more your recruitment campaigns for new members increase your profits.

So you may decide that for renewals, you will set a measure of "% of members renewing their membership" and you could monitor it each month against a target of 80%.

Identifying Your Critical Activities

If you look at your critical success factors, you will probably see that you have written them in a way that means that you can't work on them directly.

For example you may have written:

"We must be on the first page of Google for ..."

This isn't something that you can work on directly unless you are prepared to pay for placement so the next step is to identify your critical activities.