Business Wisdom Podcast Clive Enever

In business, we often talk about mission statements, but what is it about these short, sharp phrases that matter so much?

A great mission statement helps you quickly define exactly what your business does and who precisely it is suited to - which makes creating one among the most important things you can do for your business, your staff and its clientele.

Here, we take a deep dive into mission statements, including:


Why they matter to your business, your staff and your clients
How they’re created
The ways a mission statement is used to help propel your business forward.

The essence of a mission statement
At the core of every successful business lies a well-crafted mission statement.

It goes beyond a mere statement of purpose; it encapsulates the values, goals, and direction of an organisation. Like a guiding star, a mission statement steers decision-making and shapes the essence of a business.

Unveiling the power within
Contrary to popular belief, a mission statement isn't just a concise one-liner. Ranging from 80 to 160 words, a good mission statement comprised four to seven paragraphs.

This detailed approach ensures that every aspect of a business's purpose is clearly articulated.

Why your business needs one
A well-written mission statement serves a variety of purposes within your business. These include:

Clarity and Communication: Your mission statement crystallises your purpose and serves as a compass for both internal and external stakeholders.

It answers any question about your business, fostering clarity and communication.

Direction and decision-making: A mission statement acts as a roadmap, guiding strategic planning and ensuring that every decision aligns with your business objectives.

Employee motivation: By uniting your team towards a common goal, a mission statement instils a sense of purpose and streamlines decision-making, leading to a more productive and harmonious work environment.

A far greater impact
A compelling mission statement not only resonates with internal stakeholders but also extends its influence to customers.

It showcases your values, goals, and ideal customer profile, giving your business a competitive edge and building trust with stakeholders.

While crafting a mission statement may seem daunting, the benefits are immeasurable. This all-important statement becomes the cornerstone of your business.

By clearly articulating your purpose, you not only attract customers who resonate with your vision but also foster a motivated and aligned team. Remember, your mission statement is your guiding light in the business world.

Highlights

[00:00:23] A deep dive into mission statements
[00:01:06] The length and impact of a mission statement
[00:02:12] Why your business needs a mission statement
[00:05:41] How others have used their mission statements
[00:05:50] Crafting your own mission statement
[00:07:05] Where to from here

Resources

Why “vision” and “mission” are more than just words https://www.enevergroup.com.au/vision-mission-just-words/ 
How to create your vision and mission statements https://www.enevergroup.com.au/how-to-create-your-vision-and-mission-statements/ 
Honing your Vision and Mission e-course https://enevergroup.thinkific.com/courses/Honig-your-Vision-and-Mission 

Building a business is exhilarating. There’s the freedom to manage your own time, the opportunity to create an enormous impact, and the potential to build something great. It's intoxicating.

But it's also a recipe for neglecting the most important person in the equation, you. The reality for business owners is that self-care isn't a luxury reserved for going on vacation. We need to be practising self-care daily as it's the foundation on which a sustainable fulfilling business is built.

Here, we discuss how to integrate self-care into entrepreneurial life, looking at:


Why self-care is a necessity in business, not a luxury
How to ensure you take the time out that’s needed for your physical and mental wellbeing
Why self-care is all about setting boundaries that are not just beneficial for you, but also for your customers.

Schedule self-care
Treat self-care activities as non-negotiables in your calendar. Allocate time for activities that rejuvenate your energy, whether it's meditation, nature walks, or simply reading a good book.

Identify your non-negotiables
Prioritise activities that are essential for your well-being, such as getting enough sleep, eating healthy meals, and connecting with loved ones. These non-negotiables should take precedence even during busy business periods.

Delegate and Outsource
It’s important to recognise that you don't have to do it all. Delegate tasks and outsource where possible to free up time for relaxation and focus on what truly matters, ultimately preventing burnout.

Embrace Boundaries
Establishing boundaries is not a sign of weakness but a superpower. Define your limits to create a healthy work-life balance and build a business that aligns with your well-being.

Celebrate Your Wins
Don't overlook the importance of celebrating even the smallest victories along the way. Recognise and appreciate your progress, as each win contributes to your business's overall success.

Self-care is fundamental to creating a thriving business that aligns with your well-being.

By investing in yourself and prioritising self-care activities, you are not only nurturing your health but also laying the foundation for sustainable success in the business world.

Remember, looking after yourself is not a luxury; it's a necessity for achieving your full potential in both business and life.

Highlights
00:38 The exhilaration and challenges of building a business

01:22 Redefining self-care beyond luxury

02:07 Practical tips for integrating self-care into entrepreneurial life

03:01 The importance of delegating and outsourcing

03:36 Setting boundaries for better business

04:26 Celebrating small wins for big success

05:07 Self-care as a strategic business move

05:42 A personal anecdote on work-life balance

07:37 Concluding thoughts on self-care

Resources

Do you need a break from your business? Here's how to take it https://www.businessbusinessbusiness.com.au/do-you-need-a-break-from-your-business-heres-how-to-take-it/ 
Managing Your Business Mindset EBook - Clive Enever https://www.enevergroup.com.au/product/managing-your-business-mindset-ebook-clive-enever/ 
How to Work Smarter, Not Harder https://www.enevergroup.com.au/how-to-work-smarter-not-harder/ 
Business Wisdom: Strategies For Success https://www.enevergroup.com.au/product/business-wisdom-strategies-for-success/ 

When it comes to running a business, having the right support can make all the difference.

It can help you take your business to the next level, provide a safe space where you can share the challenges of running a business, or be a place where you can access expertise and the wisdom of people who have walked the entrepreneurial path before you.

This support can take a variety of forms - from mentors whose insight you tap into to staff and professional services who ensure your business runs smoothly, or a business network that acts as a brain trust.

Here, we discuss the different types of support available to entrepreneurs along with the genuine difference it can make to your well-being and the success of your business.

We look at:


The different types of support, and the benefits each offers.
How the right support can help expedite your business's success while ensuring your personal wellbeing.
Where to find support for your business and how to ensure it meets your personal needs.

Types of support to consider
With a wide variety of support available, it can be tough to know where to start. Let's explore some of the types of support that you can leverage:

Mentoring and Coaching
Having a seasoned mentor or coach can be invaluable. They can offer guidance based on their own experience, help you develop skills, and hold you accountable for your goals.

Networking and communities
Connecting with other entrepreneurs and business owners can be a great source of support. Whether you're new in business or have been in business for a long time, building relationships and sharing experiences can lead to valuable insights and opportunities.

Professional services
Depending on your needs, you might require the services of accountants, lawyers, marketing consultants, or IT specialists. Finding the right expert can free up your time and ensure that you're on the right track.

Online resources
The internet is brimming with resources for business owners. From informative blogs and articles to online courses and webinars, taking advantage of these resources can help you learn new things, stay up to date on industry trends, and find inspiration.

Benefits of having support
The benefits of having the right support are numerous. Here are just a few:

Increased clarity and focus - Support can help you identify your goals and develop a plan to achieve them. It can provide you with the guidance and direction you need to stay on track.

Better decision-making - Getting different views from people in your support system ensures that you have the opportunity to see different perspectives. This can help you make better decisions and find alternative solutions to challenges.

Improved problem solving - Sometimes, a problem can feel insurmountable, but someone else's opinion can provide you with the clue you need to find a way past it. Brainstorming with your support system can lead to creative solutions.

Increased motivation and accountability - When you have the right support, it's easier to stay motivated and remain on track. Your support system can provide you with the inspiration and accountability you need to keep pushing forward.

Finding the right support system
Finding the right support system is not a one-size-fits-all approach. It's important to identify your specific needs and challenges.

Take the time to understand yourself and your business clearly. Ask yourself which areas you need support in. Is it marketing, finances, hiring, sales, or something else?

Once you've identified your needs, do some research. Explore different options and compare their offerings. Talk to other business owners, read reviews, and attend industry events. Look for recommendations and evidence of benefit to other business owners.

Of course, budget is always a consideration. Be realistic about what you can afford and prioritise your needs accordingly. Starting with a part of what you need can be a stepping stone to obtaining the support you truly desir

We all know there’s far more to business than simply delivering a product or service. There’s administration, planning, new projects and deadlines to manage in addition to the daily activities that deliver the business bottom line.

And that’s where streamlined workflows are key. They overcome the inefficiency that is the kryptonite of business success. But where do you start when it comes to streamlining your workflows?

In this podcast, we look at the importance of creating efficient workflows, and why they help make your business a productivity powerhouse, including:


The benefits of streamlining your workflows
What to look at first and how to embark on the streamlining process
The power of automation and delegation

The challenges of managing workflows
Running a business often feels like juggling tasks on a unicycle. Emails overflow, to-do lists multiply, projects stall, and deadlines loom. Inefficient workflows drain valuable time and resources, leaving us feeling overwhelmed and demotivated.

However, streamlining workflows can be the antidote to this chaos. By optimising your processes and eliminating bottlenecks, you can transform your business into a productivity powerhouse.

Understanding workflows
In a nutshell, workflows are the invisible choreography of your business. They define the series of steps that transform ideas into tangible results, whether it's onboarding a new client or launching a new product.

The benefits of streamlining
Streamlined workflows provide a number of benefits for your business.

Firstly, they boost efficiency by reducing time wasted on manual tasks and searching for files. Streamlined workflows free up your time and allow you to focus on what truly matters.

Additionally, streamlining your workflows leads to a reduction in errors. With fewer handoffs and unnecessary steps, there are fewer opportunities to make mistakes.

Customer satisfaction and scaling your business
An important aspect of streamlining workflows is the improvement in customer satisfaction.

Happier employees, resulting from streamlined processes, lead to happier customers. Smooth and efficient workflows contribute significantly to ensuring a positive customer experience.

Moreover, streamlined workflows make it easier to scale your business.

As your business grows, having well-defined workflows ensures smooth sailing, even in uncharted waters.

Practical tips for streamlining workflows
Now, let's look at some practical tips for streamlining workflows:

1. Map out your workflow: Begin by creating a plan and visualising the entire workflow process. You can use flowcharts, mind maps, or even sticky notes on a wall - choose whatever method works best for you. The key is to have a clear plan outlining the steps involved.

2. Identify bottlenecks and eliminate unnecessary steps: Take a critical look at your existing workflows and identify any bottlenecks or unnecessary steps. Streamline the process by removing these inefficiencies.

3. Leverage Technology: Embrace technology tools and automation to streamline your workflows where you can. Look for software and apps that can simplify tasks, automate repetitive processes, and centralise communication and data.

4. Regularly review and update: Workflows are not set in stone. Regularly review and update them to ensure they remain efficient and aligned with your business goals. Solicit feedback from your team and make necessary adjustments.

The final word
Streamlining workflows is a game-changer for businesses. It increases efficiency, reduces errors, enhances customer satisfaction, and facilitates business scalability.

By mapping out your workflows, identifying bottlenecks, leveraging technology, and regularly reviewing and updating your processes, you can create a streamlined workflow system that empowers your business to thrive.

Be sure to tune in to the next episode of the Business Wisdom Podcast, where we explore more strategies for success in the dynamic

It’s no secret today’s world is fast-paced with multiple tasks competing for every business owner’s attention. But how can you ensure you leverage your efforts to best effect - achieving the best results possible without wasting time and effort.

It’s all about working smarter, not harder, and in this Business Wisdom podcast we look at how that’s done, including:


How to ensure the work you are focussed on correlates with your business goals and plan
The best strategies to save time in business, without compromising on quality
The top tools for managing your time, along with how to establish boundaries in both your personal and professional life.

It starts with goals and priorities
If you’re looking to work smarter, not harder, it starts by knowing exactly WHAT you’re trying to achieve.

Set clear long-term goals that you then break down into smaller, manageable tasks and ensure these goals are SMART, as in specific, measurable, achievable, relevant, and time-bound.

It’s also about understanding your priorities. Use techniques like the Eisenhower matrix to prioritise tasks based on urgency and importance. Focus on tasks in the ‘urgent’ and ‘important’ categories to maximise your impact.

Time management tools
With time in short supply, it’s critical you manage this resource effectively. Use tools like to-do lists, calendars, and time blocking to allocate your time wisely. Take regular breaks to maintain productivity and avoid burnout.

Where possible and appropriate, tap into technology to automate routine tasks, such as email filtering, data entry, and appointment scheduling. This will free up your time for more strategic and creative work.

Technology can also enhance your productivity, keeping you on track and abreast of what needs to be done, when. Tools that can assist include project management software, customer relationship management (CRM) systems, and collaboration tools. Choose wisely and use them to their full potential.

Meanwhile, consider whether the task is one that you actually need to be doing. Or could it be completed by someone else? Identify tasks that can be effectively outsourced to other members of your team and empower them to take ownership.

It also pays to consider the things that sap your productivity and distract you from the task at hand. Is it social media, an ever-growing email list that you feel compelled to check, or perhaps noisy co-workers?

Identify and minimise those distractions in your work environment. Create a dedicated workspace, use website blockers, and establish boundaries with colleagues and family members.

It’s a mindset
Working smarter, not harder is a mindset as well as a practice. Not only does it involve understanding exactly what to focus on, then finding the right tools to assist, and dedicating the required time to completing that task efficiently, it’s about ensuring you gain the work/life balance you deserve.

As part of this, incorporate mindfulness techniques, such as meditation and deep breathing exercises, into your daily routine to boost productivity, reduce stress, and enhance concentration and decision-making abilities.

Make a habit of incorporating short breaks into your workday, and make sure to take longer breaks, such as weekends and holidays, to recharge and maintain overall well-being.

Importantly, learn to say no when you need to, and this applies to both your personal and professional life.

Along the way, periodically review your work strategies and performance, reflect on what's working well and what needs improvement, and be open to making adjustments and adapting your methods to better align with your goals and changing circumstances.

Working smarter, not harder is a strategic approach that allows you to achieve more with less effort. By incorporating the principles and strategies, you can take significant steps toward working smarter, achieving your goals in shorter timeframes, with greater ease, and more

Decision-making is a fundamental aspect of human existence. From choosing what to have for breakfast to making life-altering choices. We make decisions every day. However, if we look deeply into the process of how humans make decisions, we find it's far more complex and nuanced than it might initially appear.

In this episode of the Business Wisdom Podcast, we delve deep into the intricate world of decision-making, a fundamental aspect of both personal life and business operations.

Decision-making is a complicated process influenced by various factors. I won't delve into the mechanics but rather focus on its impact on business.

Rational vs. Intuitive Decision-Making
There are two primary categories of decision-making: rational and intuitive. Rational decision-making involves a logical and methodical approach, while intuitive decision-making relies on gut feelings and instincts.

Understanding these types of decision-making can have a significant impact on how we present our products or services to potential customers.

Influential Factors in Decision-Making
Several factors influence our decision-making process, including:


Access to Relevant Information: Overloading clients with information can lead to confusion. Providing relevant and appropriate information is crucial.
Cognitive Biases: Biases like confirmation and anchoring can distort our evaluation of alternatives.
Emotional Regulation: The ability to manage emotions plays a significant role in making sound decisions.
Experience and Implicit Knowledge: Accumulated knowledge and unrecognised patterns often guide intuitive decisions.
Social Context: Peer pressure, cultural norms, and societal expectations significantly affect our choices.
Economic Considerations: Financial constraints and perceived costs are crucial in decision-making.

Decision-Making: A Two-Way Street
Decisions are made for two reasons: to gain something or to avoid pain. Every decision is emotional and tied to personal values. Recognising this emotional connection is vital in understanding how to position our offerings effectively.

A Simple Formula for Effective Decision-Making


Identify Desired Outcomes: Clearly define what you want to achieve.
Establish Criteria: Determine what criteria will help you reach your desired outcome.
Conduct Research: Investigate options that meet your criteria, leading to a straightforward choice.

The Power of Choice
The final decision always boils down to a choice between two options. Offering more than two choices often results in a "no thanks" as it complicates the decision-making process. Through elimination, we arrive at the best possible outcome.

Making Better Decisions for a Better Business
Understanding the intricacies of how people make decisions positions us better to communicate the benefits of our products or services. It also helps us identify the right clients to work with.

Here's to making better decisions for a better business and a better life!

Highlights

[0:45] What is decision-making?
[1:30] The two primary types of decision-making
[3:00] Factors that influence decision-making
[3:30] Access to relevant information
[4:00] Cognitive biases
[7:30] How to make better decisions
[8:00] Tips for helping potential customers make good decisions

Resources

Sales doesn’t have to be scary
Business Wisdom: Strategies for Success
Know your customer
Honing Your Vision and Mission