James Sinclair - The Millionaire Clown

2 de Oct de 2014

Más contenido relacionado


James Sinclair - The Millionaire Clown

  1. James JIMBO Sinclair The Millionaire Clown The Rules for Business Mastery
  2. MY BUSINESS • Show video of Partyman and possibly the C4 documentary. • 300 staff. • £8 million turnover. • Property.
  3. RULE 1 You have to know your Why! • You have to know your why! • This builds a vision, once you have your vision you build your map. • To be rich is a useless statement… WHAT DOES RICH MEAN? • Once you have this set out, your business then needs a why or an objective if you like. • Limiting belief factors, knowing your state and making it positive and understanding that money is energy. • Without knowing your WHY - why would you do it?
  4. RULE 2 You then need goals • You need 5 year goals. • Yearly goals. • Weekly goals. • Daily goals. • These all help to build your vision statement.
  5. RULE 3 Objective, Strategy and Tactics (OST) • CEO/OWNER sets the Objective. • CEO/MD/Management comes up with the strategy and tactics, this can change as times goes on but the objective must remain on point until its implemented and complete - you can then start a new objective.
  6. RULE 4 You need to know what animal you are in the world of leadership and Entrepreneurship…also, what animals are your team? • The Eagles and Lions, they have visions, these are the leaders and people want to be lead by them. Systems, operations, organisation and delegation of tasks are of upmost importance to them - even if they don't possess the skills they make this happen. They think big and make the impossible seem easily possible, they understand that they are not always right and continue to understand that the more they learn the more they earn. They have the “eye”, they are the top 5% of the population…. THESE guys have MSI AND RESIDUAL income businesses, failure is inevitable but its planned and minimised at all costs to not bring the whole house down. They have a positive state, happy, hard working and they know that failure is an education to be better next time. • The OX, work hard and achieve more than most, get stuck in, they do well. A favourite phrase of the OX is “If you want a job done well, do it yourself” they think big but have a disbelief that they have not got the skill sets to make it happen or they simply don't invest in personal development to become the best they can be. THEY may start a second income stream without mastering the first, i.e. as one business gains traction they start a new race without completing the first race, they lack a plan and a vision statement…. they want to be Lions and Eagles soaring over and looking on the business and occasionally they do but they get sucked back to being in the business, they fear failure. 30% of business owners - with knowledge they can become lions and eagles. • The Sheep, they get up eat grass and do the same, day in day out. They live in the business and don't have a plan, vision or statement. They follow the crowd and don't embrace potential. They are dream stoppers and surround themselves with dream stoppers. 60% of business owners love to blame the economy, government and the credit crunch.
  7. RULE 5 Finding the right people • Find them, work with them, develop them and above all keep them. • Don’t keep people that are non believers. • Create a set of rules that your business lives and breathes by. • Reward the right people, lose the wrong people. • Delegate authority early on, it empowers and makes the vision stronger.
  8. RULE 6 Think BIG, but all ways act small • Sales before operations, when cash-flow allows let operations lead sales….(you do need to understand the fundamental difference and when to change this). • Low overheads. • Devil in the detail. • Nimble fast approach that can pivot in and out of problems. • Finish and get things done before moving on. • ABOVE all you need to SELL.
  9. RULE 7 You need to know how to raise money • You need a business plan or at the very least a vision. • VC’s >£1m or more. • Bank. • Angel investors for <£1m less. • If you can build up traction and some sales before using outside money, when you meet Bank’s, Investors, Angels or the like: 1. Be passionate, enthusiastic and confident about yourself and your product. 2. Give them some proof…..track record of yourself, even if it's small. 3. Be willing to play ball and have an approach of realism.
  10. RULE 8 Sales and persuasion • You need to be good at sales and persuasion. • Be super enthusiastic, sharp as a nail and an expert in your field. You have 4 seconds to make an impression. • You need to master body language and tonality to accompany the above. • Create amazing rapport with prospects. • No one likes a pushy salesperson -they want to buy from experts.
  11. RULE 9 Cash flow and basic accountancy • Learn accounts and when I say this I mean management accounts. • The art of cash flow, how to manage when shit hits the fan. • Cash flow is more important than profit. • Building terms with people. • Know what it costs to open a day. • Train your staff to understand the basics - let them in on the vision. • When its bad or know its going to bad you navigate the storm.
  12. RULE 10 MSI (Multiple streams of income) • You must do this to become wealthy as a business and as an individual plus it gives you insurance against other income streams that may not be performing so well. • Property. • Business. • Stocks. • LESS stress. • In our business we have leisure, events, entertainment, farm park, play centre's and with each venue we look for 3 revenue streams.
  13. RULE 11 Systems and process • You need to build in systems and processes to the business as soon as possible…. the earlier you do it the easier it is to build the business. • A business should run without the owner. • Entrepreneurs need to respect managers and know they should make the impossible happen and build the business not manage it! Managers and people want to work for a vision led business. • Build and run the business to sell, even if you don't want to sell it.
  14. RULE 12 Buy a bad business and make it good • It means you can lower your entry cost and build on something that all ready has a basis. • Its quicker to make a return. • Lower your debt. • Implement your systems. • Lowers risk as it will in some sense have a customer base that will be crying out for improvement.
  15. RULE 13 Compete on experience, not price • But always offer exceptional value for money, rich super wealthy people still want value for money. • Remember businesses that compete on price have very little margin movement and usually low profit to turn over. • Its better to have profits of 20% of a lower turn over than 2.5% of a massive turnover. • GOOD Margins are a key factor in long term success.
  16. RULE 14 You are a marketer • An entrepreneur understands marketing for SME business is not the same for BIG BLUE CHIP COMPANIES. • Promoting your brand is a by product of your marketing, brand awareness is a flattery for SME style business - you are not Coke, L'Oreal, Facebook or UNILEVER. • Your marketing is to create sales or sales leads-PERIOD. • I understand OFFERS, TESTIMONIALS, HEADINGS, A LIST, EXPERT, I KNOW WHO MY BEST CUSTOMER IS, MARKETING SHOULD CREATE CERTAINTY . • JV’S. • You understand that marketing is the flow into your sales funnel, they work hand in hand but are different not the same…..Marketing is the process of finding customers that have a pain or a need that marketers can resolve through funneling the leads into sales.
  17. RULE 15 Residual income is aFABADOUSAthing… • Insurance, Sky, Property and Netflix are all residual led business. • Money comes in every month. • Customers don't need to be found every month. • Usually its a lower profit but its regular. • Less stress. • Easier to value and more attractive to sell a business with regular massive residual income.
  18. RULE 16 I know SHIT happens and it always will • Things go wrong, they always will and we have to embrace and learn from this. • And the best way to minimise the risk……
  19. RULE 17 You know the power of mentors and the ethos of the more you learn the more you earn! • Mentors or mini mentors are key to success. • Who you hang around with is what you become “If you're the smartest person in the room you’re in the wrong room”. • The more you learn the more you earn. • Network, network and network again, “Entrepreneurs need a network to plan the strategies and tactics to win the battles”…. networking create opportunities. • Implementing stuff is the key to success.
  20. Spend a day with Partyman’s James JIMBO Sinclair • We will have the chance to really learn a ton of stuff to implement into our business. • A fantastic networking opportunity. • Meet like minded people. • A look into the art of sales and persuasion for staff rather than business leaders. • Learn the rules of my book. • How we can get a look at the Partyman business plan in detail. • How to raise money in detail for your ideas and implement. • How to create vision statements and goals that work. • A day working on yourself and being ON your business. • A Journal to take notes with key pointers, PACKED with great facts to transform your business. • A copy of my book “The Millionaire Clown”. • PLUS join the community of “James JIMBO Sinclair’s Brilliance in Business Members Club”, with exclusive access to business nuggets, experts, help advice and monthly newsletters to boost your business.