Laurus Business Advisory Services

Laurus Business Advisory Services We create business strategies for business owners to help achieve growth and improve their lifestyle...

We create business strategies for business owners to achieve growth, and help improve their lifestyle. This is achieved through a structured program tailored to each businesses individual needs. Our motto is to keep it simple and that's exactly what we do. We provide expert advice and guidance without all the jargon. If you'd like to know more get in touch, and we will meet for a coffee and a chat.

There are three different types of business owners that I have come across throughout my career. Their approach to setti...
24/03/2022

There are three different types of business owners that I have come across throughout my career. Their approach to setting up a business can determine their likelihood of success. You can relate this to the well-known fairytale 'The Three Little Pigs.'

Do you wonder which one you are?

Today I share with you the first type of owner:
The First Little Piggy and his House of Straw.

Now, this little Piggy set about creating his house with great enthusiasm, it looked great, and everything was going smoothly for the first few months.

But just like in the fairytale, soon the cracks begin to appear.

The Piggy rushed into creating his 'Business of Straw' but had never taken the time to really understand the basics of what makes a good business in the first place. He didn't know his numbers, he didn't have the right people around him, and soon enough, problems arose.

When the Piggy got a call from the big bad wolf (also known in our story as HMRC), explaining he had gone over the VAT threshold and owed £3,000, he simply didn't know what to do.
His business was cash poor. He didn't plan or forecast. And spent over 90% of his time chasing his tail working in the business. He realised things were falling apart too late to change his approach.

Soon enough, his house came tumbling down around him.

This poor little Piggy. He lost his business and his house.
Don't be like The First Little Piggy...

Tune in for part 2 tomorrow.

When a person decides to take the plunge and set up their own business, they often do so for two reasons:a. They have a ...
22/03/2022

When a person decides to take the plunge and set up their own business, they often do so for two reasons:
a. They have a passion for the business they are setting up
b. They believe in their abilities to make a success of it

This passion, self-belief, and determination give a business owner a fantastic platform to build from.

However, the reality is that these factors do not guarantee success. In fact, without the correct framework in place around you – cracks soon begin to show in the business. Issues soon start to arise, and your fairytale ending of owning a successful business can quickly become a nightmare.

On the subject of fairytales, creating a solid platform and implementing a successful framework reminds me of that well-known story of The Three Little Pigs.

This week, I will use the Three Little Pigs story to highlight the different types of business owners I've often come across. I'll show you the positive impact surrounding yourself with the correct framework can have on your business. After all, we want to find THE way to avoid the big bad wolf and find our own happily ever after...

Follow me to hear the story and learn along the way how you can make changes to build a better business.

The Alternative Board's Bike Analogy for your business.The front wheel: This is your personal vision for where you wish ...
08/03/2022

The Alternative Board's Bike Analogy for your business.

The front wheel: This is your personal vision for where you wish to be and the direction you want to be heading.
The back wheel: This is your business, powering the energy to push you along to where you want to be.

And then, there is you. Sat at the saddle, pedalling along to energise the business and steering the bike in the direction you want to be heading.

What I love about this analogy is the clear co-dependency which is highlighted between having a personal vision alongside the role your business has in helping to achieve it.

Without a front wheel, you can sit on your bike pedalling away, but you won't get anywhere. There is no target, no direction for where you or your business is heading.

Likewise, you will struggle to reach your goals with a punctured back wheel!

Having a clear vision and a well-maintained business will make pedalling so much easier for you. And help you to achieve the success you are after.

What do you want out of this life?Some people will see the above question and have a clear answer, whilst others may sim...
04/03/2022

What do you want out of this life?

Some people will see the above question and have a clear answer, whilst others may simply shrug their shoulders and not have a clue (which one are you?)

If you want fire in your belly to achieve your goals, then get clear on the answer to this question.

So many business owners focus on their business goals when measuring success. Yet what joy is there in having a successful business but at the cost of having a miserable life?

The Alternative Board helps to align your business goals with what you want in your personal life. Meaning that success for your organisation directly correlates with the positive outcomes in your personal goals.

Take a step back today as we look forward to the weekend, and really think, "is success in my job, my work, my business really giving me the life I want?"

If not, get in touch to see what difference TAB could make – achieving what you want in life must be worth a simple direct message, right?

I've spoken before about the need to recruit the "right staff" into your organisation. Not just staff who have the corre...
03/03/2022

I've spoken before about the need to recruit the "right staff" into your organisation. Not just staff who have the correct skill set or qualifications. But employees who believe in your vision and values and share your passion for making your business a success.

However, recruitment is only the first hurdle when expanding your team, and even if you get the right team members in, business owners often find the second hurdle even harder to jump.

Delegation.

So many business owners under-utilise their staff because they are so precious about maintaining the ways of working that have brought them success so far. Yet failure to adapt will lead to under-utilisation of the skills within your company, unhappy employees and a stagnated business.

Owners must have the confidence to delegate tasks and delegate power and authority. Mistakes will be made. But lessons will be learned, skills improved, morale increased, and a better performing business created as a result. With more time freed up for you - the business owner - to concentrate on the more significant tasks at hand (or even simply earning some well-deserved downtime each week).

How do you find delegating?
Love it?
Hate it?
or Had to get used to it?

It's Pancake Day!Don't worry; this post isn't about the age-old argument of sweet or savoury. It's about the day that fo...
01/03/2022

It's Pancake Day!
Don't worry; this post isn't about the age-old argument of sweet or savoury. It's about the day that follows Shrove Tuesday – namely Ash Wednesday – and the subsequent start of Lent. When people worldwide take part in the Christian tradition of giving something up over the next 40 days to Easter.

Many people often choose to give up chocolate, alcohol or perhaps try a vegetarian (or even vegan) diet – seeing 40 days as a realistic timeframe to dedicate such efforts.

Two months ago, we saw people once again 'making pledges' – this time through their New Year's Resolutions.

Can you guess which of these two approaches I prefer?

I'm a big fan of setting realistic targets within accountable timeframes. We work to 13-week plans when I'm working with a business, ensuring the aims and ambitions are always in view.

The problem with long-range plans (and New Year's Resolutions) is that they simply get pushed aside over time and are quickly forgotten by many people.

If you've already broken your New Year's Resolution, why not try again over the 40 days of Lent and see if a tighter timeframe can be your catalyst to success?

"As a business owner, I'm always so busy, there is always so much to do"... sound familiar?You might have said this to y...
01/03/2022

"As a business owner, I'm always so busy, there is always so much to do"... sound familiar?

You might have said this to your partner, to friends or to fellow business owners. They probably greeted you with positive reactions: "You do such a good job", "You work so hard", "It's definitely a 24/7 job", etc.

But has anyone ever said to you, "Actually, you're probably not as busy as you think you are"? (Queue a look that could kill!)

I say this from experience based on the countless business owners I've worked with who are non-stop 12 hour days, 7 days a week. I often find that these people aren't "busy". They're struggling with prioritising, struggling with delegating and finding distractions that take them away from completing the important tasks. And by important tasks, I mean the income-producing activities that get you to your goal.

Consider the tasks you've completed over the past week?
▪ How many of these were vital for the success of your organisation?
▪ How many were tasks that could have been delegated away?
▪ How many were actually tasks that could have waited whilst you cracked on with what truly matters?

Can't answer any of those questions? Take the time this week to look at your to-do list and really think, "Is this activity really something I need to do right now?"

Rate them on a scale of 1 to 10 based on whether they are an income-producing activity for your business that has to be done by you, today, or else.

I'll check in with you later in the week to see how you're getting on. Comment below if you are going to do this exercise this week.

When you buy a house, you work with a solicitor to ensure all legal requirements are above board. The process will go th...
18/02/2022

When you buy a house, you work with a solicitor to ensure all legal requirements are above board. The process will go through (hopefully) with as little stress as possible.

This is a classic example of relying on the professional expertise of one person to complete tasks on our behalf, which we are not trained to do.

Yet when I speak with business owners who have been presented with issues beyond their expertise, the amount of times help hasn't been sought is astounding.

We all go into business for our own reasons. Still, no one goes into business with a fool-proof guide guaranteeing success.

Reaching out for help on matters we don't understand can be challenging to do. Yet, it is so often the fastest way (and in the long run certainly the most cost-effective way) to resolve issues and get on with doing what you do best).

As a Business Mentor, I don't just fix problems; I educate my clients. Providing them with the knowledge and the tools to become better all-round business owners.

As the old proverb goes - Give a man a fish and he will eat for a day, teach a man to fish and he will eat for life.

Anyone enjoying a Fish Friday this evening? Or as we call it here in , Chippy Tea Night!

As a proud member of BNI, I have long believed that to succeed in business, you need to be willing to give. Not just exp...
03/02/2022

As a proud member of BNI, I have long believed that to succeed in business, you need to be willing to give. Not just expect to receive.

This may be giving contacts, sharing knowledge or simply giving encouragement.

I previously worked with an accountancy practice with nine offices around the country; some performed way above target whilst others struggled monthly.

It wasn't the struggling teams that were my greatest concern. It was the organisation's culture; those succeeding weren't supportive. They were judgemental and happy to see others' struggles as an amplification of their own success.

Just think how successful that accountancy firm could have been if the highest performing branches shared what was working for them and helped raise everyone else's performance.

This is why the Giver's Gain philosophy has made BNI the World's largest referral networking organisation.

And also why peer boards work so well in providing non-competitive, non-bias, expert help for your business.

If you feel your business could do with some non-judgemental support right now from someone who wants nothing more than to see you succeed. Send me a message, and we can chat to see if a peer board or one to one support might be right for you.

"Confidentiality is the essence of being trusted."I recently came across this quote and thought it was a great descripti...
02/02/2022

"Confidentiality is the essence of being trusted."

I recently came across this quote and thought it was a great description of one of The Alternative Board (UK)'s benefits to business owners.

Basically, what is said at The Alternative Board, stays at The Alternative Board.

It can be difficult for many business owners to really open up about their current situation. Any issues or complications feel like a burden they are solely responsible for, and sharing these will only show weakness and lead to ridicule.

The truth is the complete opposite.

By sharing your concerns and complications (alongside your successes and aspirations), The Alternative Board can help you face any situation head-on, with a wealth of knowledge from the board behind you.

Those conversations you don't want to worry your partner with, can't speak to your friends about in the pub or simply can't find expert advice for – The Alternative Board is your answer. All conversations remain entirely confidential – share your situation and let us help you find the best way through it.

Hands up if you've brought an issue to a peer board before, not specifically TAB, that you weren't able to speak to anyone else about at the time?



Can you remember the last time you made a mistake and beat yourself up about it?We are all guilty of being too harsh on ...
01/02/2022

Can you remember the last time you made a mistake and beat yourself up about it?

We are all guilty of being too harsh on ourselves, and it's not a healthy way to deal with the situation. In fact, over analysing poor decisions prevents us from looking at the experience as a learning opportunity – turning the negative into a positive.

Now think – can you remember the last time you did something really well and went back to analyse why it was a success?

We are all quick to reflect on mistakes, but by taking the time to reflect on "why something went right", we can grow in both confidence and knowledge.

A good business decision, a good interaction or simply a time you made dinner, and it was "just right" - take some time to understand why it went so well. It will help you to continue making the right decisions in these situations time and time again going forward.

A quick tip - think about how you felt and acted before these scenarios? What frame of mind were you in? Were you confident beforehand? Or were you uncomfortable but had an action or plan that you stuck to?

I don't profess to be an expert in this, but I do believe 80% of our success is in our approach and mindset. Henry Ford did too. Do you agree?

When you set up a business, you have a vision of what you want to achieve. A personal reason why you've chosen to go int...
01/02/2022

When you set up a business, you have a vision of what you want to achieve. A personal reason why you've chosen to go into business for yourself.

So when you make decisions today, like working the weekend to finish a project. Hiring an employee. Moving into bigger premises because you've outgrown your offices – do you reflect on how this impacts your original vision? Maybe the vision has changed over time because you've surpassed what you first thought possible.

Do you ever revisit it and ensure that your business is still putting you on track to make your personal vision a reality?

Having a clear personal and business vision will help you assess situations and make clear decisions about what is best for the company and best for you. Without this focus, you can lose sight of opportunities around you that support the bigger picture or easily steer the business in another direction without realising it.

I'm intrigued to know, if you look back at the original vision you had for your business – how does it match up with your situation today?

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Airedale House, 423 Kirkstall Road
Leeds
LS42EW

Telephone

+441133452156

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