How do you achieve the right mindset and rise above the challenges?
Lara Morgan, the founder of Pacific, joined us on the second day of Elite Business on 12 March as the keynote speaker for the Commercial Business Growth talk, speaking about how business owners can develop a forward-thinking mindset during this challenging time ‘ and why it is important to hire people with the right attitude for business.
Lara revealed her top tips for businesses owners to grow their customer base – and it even starts from the moment you wake up in the morning. By adopting positive habits daily long-term, you will be able to achieve your goals one step at a time and make progress with your business. The first rule is to find a new customer every day, Lara said. Every single day it is the first thing you do in the morning, you look for a new prospect and by doing that you build a pipeline and now you start getting back in business and then you have momentum. And from that one customer grows. From little acorns grow might oaks.
Lara also explained how it is important to hire people with the right attitude, as it’s not just about your mindset, but also those who work for you. A good team will be able to pivot your business in the right direction if they share your vision and have a positive work ethic. Lara also praised the Government’s Kickstart Scheme, which provides funding to create new jobs for 16 to 24-year-olds on Universal Credit who are at risk of long-term unemployment.
Darwin was all about adaption and those that adapt, they survive, she added. So, I want you to think about aiming high, higher than you’ve ever aimed before… I’m agile, I’m able and I have the right attitude, and I employ people with the right attitude because I can teach them aptitude. And I can commend to you the Kickstarter Programme where we need to get on track with some of the young under 24s who may have had a hundred rejection letters and may have started losing the will to live in terms of business. Give these people a chance, they’ll bring infectious positivity that frankly we all need.
Lara encouraged business owners to not be afraid to say no to opportunities that don’t fit their vision and to also value their expertise enough. Do not charge less, but instead hold your product or service to a high degree and value it. I want to remind everybody that the most important word in business is no, she explained. Get your strategy, stick to your knitting and know that the most important word is no, that’s not what we do. You’re experts in something, you stick to it, you hang in there for all it takes. No means you’re staying focused, no means that you’re aware of what you’re aiming to do, no means you’re an expert in the field. No means you’re strong enough to stay focused and do what you want to do to take the vision and the mission ahead. You have to learn to say no and whilst you’re doing it, ask for more than what you’re currently asking on a price list. Prices are going to go up everywhere particularly in the product world, we have paid up to ten times for container space for freight… You need to know your market. Be an expert in your field and price right, but most of us don’t charge enough and most of us don’t value our expertise.
Lara spoke about the 80/20 rule in your business model ‘ 80 per cent of is based on your vision and message, while the remaining 20 per cent is where you tailor your business plan to suit your customers’ needs and fit the demands of the market. Perfectionism will cause you to miss out on opportunities. Taking action and learning from your mistakes is the way forward. “Teach everybody in your organisation what is your vision and mission and what are the questions you need to ask to know if you are speaking to the right customer, or do you need to move on? Lara asked, Is your message clear? Does it hit you in the eyes on your website about your promises and what makes you different from the rest? Once you have a message and it’s 80% formed, you then have to go with the market, you have to hear and listen and that’s when you have to adapt. But don’t fanny around and keep thinking you’re going to be a perfectionist because perfectionists die on the vine, they don’t get the product to market and by the time they get there, someone sold their space and taken the budget. Move it quickly. Acting is the ‘A’.
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