Ask The Mentors

Do you have a question about

Finances?

Marketing?

Sales?

Recruitment?

Product?

Investment?

Exit Strategy?

0 votes
2 answers
183 views

Who do we trust to help us grow our business to the next level?

We have been in business for 22 years. We have grown but find it extremely hard to get to the next level where we, as business owners can work on the business not in it. Maybe even have a holiday each year. We work extremely hard but I feel we need external help. We do not have a lot of cash to throw around so we need the help of someone who can give us the direction to do this. So many people offer their services but how do you know they are the right person/company. We are considered to be structured and organised but we could grow to double our capacity. We have the premises to do so. We would need to employ extra technicians when the need arose to handle the extra work. We need also to do this for our exit plan. Who do we turn to to help us get there? We have not been able to do this on our own. We have made many continual improvements which have helped but not got us there!

0 votes
3 answers
249 views

Time poor, do I sell or look for a parter to share the load.

We are small fire protection business who have been making a 25% profit margin for several years now. I love the business and it services but I am finding it hard to make time for family and personal goals. I am the director and manager but also work a second full time job. Of late I am finding I am losing touch with the business and its direction and I am getting frustrated. I have a good team and have considered having my senior tech running the business, but that takes him away from his main role. I am worried about the legal obligations and I have a fear of my team making a mistake where I will personally suffer. The business is located on my residential property so I find it hard to get away from it when needed. Should cash in my chips and put the business on their market, or relocate the business from their property and look to have someone else navigate?

0 votes
3 answers
137 views

How do we encourage team participation to consistently deliver quality for clients

Have been in business for 45 years and still having the same issues with the team not buying in to the quality required.. don’t care attitude. At times its great while others require follow up visits to rectify faults in landscaping projects.. taking way too much time to complete. I had major heart surgery 18months ago and my role is to develop the team and design projects, supervise and schedule works... and its really wearing me down

0 votes
1 answer
102 views

How I can start

I would like to start a carer business, I have experience with people with disabilities,but I do not how to start, Thank you, Maria

Start Up

0 votes
1 answer
179 views

Stay or go

I have purchased my parents small Diesel repair business, which has been established for over 30 yrs in 2014. At the moment there are more out goings in income. I have had trouble with staff & myself, Have seeked & got help for myself. I have very good staff at the moment. I am at the point where do I sell the business, down size or try to trade out of the trouble. I have worked in the business for over 20 yrs. I enjoy what i do but its getting very difficult to keep going?

0 votes
1 answer
204 views

I closed my shop frontage at the end of March as I was falling behind and needed to redirect my business. Is it to late

I'm a talented woman capable of branding and have had a good business for 18 months. I lost direction and focus and became non productive so closed my shop front to lessen current debt and work from home. I have alot to give...Am I better to give up pay my debts and go work for wages or reinvent myself and believe in me. Extremely talented but fail

0 votes
1 answer
150 views

Exiting the workforce through to semi retirement

I am 53 and I would like to start working now on an exit strategy from my current employment into a structured semi retirement plan that incorporates some passive income. I'm not sure where to start and would like to access a suitable mentor to assist me making some decisions and starting working toward clear short and long term goals.

Start Up

0 votes
1 answer
193 views

Hi Mark, watched your show and view all your vids, loved it all.

I have a unique business, a hydraulics service / supply company, 7 employees. This has been going for over 20 years. Typically has serviced the manufacturing industry. I started as a one man operation with a goal to provide a quality service to my clients and make 1 and a 1 /2 times what I could working for a company. A fairly modest goal. My business has constantly changed though out the years. I have learned many of the things over the years that are in your videos, we changed our company name for the internet and marketing reasons, we had our own software written to assist us with our job management and customers relations, we use some specific low cost key words in our advertising, that gets great results. We always seem to be in struggle street. We have some ting very unique, the very client I ever did a job for is still one of our top 4 clients today. I love working with the medium, and giving good service. The tafe colleges not run hydraulic coarse any more. I cant get suitably qualified and experienced staff. This is a family business, my wife and decided years ago, she was not the rite fit for the business, so I am now a sole director. With no family mentor it was so refreshing to see so many of the changes we have made are endorsed by your mentors. I wonder what else you may have for me and how to get it. I do not have a proper exit plan, at 60 + i probably need one. I have one other specific problem with our accounting package, (Reckon Enterprise) if we can resolve it would be great Do you have group sessions I can attend? Would love any comments and feed back, regards any aspects of our business you pick up.

0 votes
1 answer
166 views

What should I be focus on?

I started my shoe shop business 2 years ago with casual leasing in the shopping centre. At the same time, I have steady part time job at bank for nearly 6 years. The reason I didnt quit my bank job because it’s stable, I am comfortable of the role, family members all think its a good job etc... plus my shoe shop is in casual leasing, I can close it anytime if it doesnt turn out successful. However I put a lot of effort into the shoe shop, working at shoe shop while I am not at bank, setting up all the website/social media/ stock inventory/ accounting/ advertising etc all by myself. I have work 7 days a week, half time at bank, half time at shop. The business gross revenue has gone up nearly 20% comapring with first year. But my salary from bank is pretty much covering staff for shoe shop. I have no savings from the business, money that comes in usually straight out for pre order stocks and other expaneses. I borrowed money from my family for shoe shop and I am long way to pay them back. I am at the stage of self doubt....if I quit my bank job and focus the shoe shop, what if the shoe shop is getting bad, I end up close my shop and no job either.... I hope mentors can help me

1 vote
1 answer
174 views

How do I breathe new air into my business?

Been in my retail store for 12 years and feeling stale as much as I really do try to change things up. I'm pretty sure that I also have a bad case of tunnel vision. I think because I do just about everything on my own I badly need to sound out and see my space with new eyes.

Start Up