Have you ever experienced analysis paralysis? It can disrupt your mindset and easily cloud your judgement.
So, why is it important to keep a clear headspace?
Have you heard of the 80/20 rule? The 80/20 method improves productivity, clarity and perspective to drive results.
Jake, from G-Six Boxing on the Central Coast, is the perfect example of how the 80/20 can drive results. Jake was running a massive gym on the coast and paying ridiculous rent so he was struggling to get his financials in order.
Then COVID-19 happened.
Like many small to medium business owners, the global pandemic rattled his business and he felt stressed, anxious, and desperate for cash. Jake needed additional support but was it because of COVID-19, or was it because his processes were not setup to scale and grow overtime?
He reached out to a business adviser to understand where he went wrong and how to adapt and manage during times of hardship.
What is a Business Adviser?
A business adviser can show you how to scale your business by creating an accelerated action plan. In Jake’s case, consulting with a business adviser helped him shift his focus to the 80/20 principle to identify his goals.
He realised his business wasn’t aligned with his passions. At the surface level, owning a gym was a piece of the puzzle but he was most passionate about boxing. By applying the 80/20 rule, he transformed the space to be a 50/50 boxing and gym workout facility.
How did Jake transform his business?
His confidence and results increased once he re-aligned with his passions. We helped him build a team of like-minded individuals who supported his vision to become a major boxing business across Australia. Now, Jake is able to dedicate his time to boxing while the gym workout facility remains self-sufficient.
Jake’s situation is not unique. We see this scenario with many businesses who are overwhelmed, anxious and don’t know where to start.
That’s why, bringing in a business adviser with an accelerated action-plan approach can help. When COVID-19 hit, Jake knew he needed an accountant to get his financials in order, but he also knew he wasn’t in a good headspace and it was affecting his business decisions.
By engaging with a trusted accountant, business adviser and growth specialist, our team provided Jake with a holistic approach to achieve the following results in just under 6 months:
- Increase his weekly base by 35%
- Qualify for rent reductions due to COVID-19
- Qualify for government incentive packages
- Streamline discrepancies and issues related to allocating funding for resources
- Set targets and work backwards on how to get there
- Set up weekly, monthly and quarterly goals and KPIs
- Host weekly sync ups with our team to foster accountability
- Proactively anticipate setbacks, issues and create a plan of attack before it happens
Engaging in a client’s story and passions, beyond their numbers and metrics, is what drives growth targets and goals. Through one-on-one coaching, weekly client meetings, and streamlined processes, Jake was able to complete a $45 000 renovation post COVID-19.
G-Six Boxing is one of many businesses who have benefited from the help of an adviser. By working with you every step of the way, an adviser can help you gain clarity and perspective to make big decisions to scale and grow your business over a longer term.