Developing strategic partnerships is an extremely powerful way to build your business.
Typically it’s very difficult to grow a business client by client, deal by deal. If you find the right partners it can have a multiplying effect.
My business Retail Profile Europe would never have grown to the size, scope and scale it did unless I had taken the risk of partnering with share-holders, venture capitalists and even a competitor.
Coaching can transform people’s lives – personally and professionally, and I believe everyone can benefit from working with a coach.
The best athletes have not one but multiple coaches specialising in different aspects of their chosen sport. Their coaches help them to analyse their performance, see new perspectives and visualise success.
The Entrepreneur Organisation (EO) is a global non-profit organisation for entrepreneurs whose businesses turn over $1 million. It has over 10,000 members and 144 chapters in 46 countries.
I have been a member since 2003 and have gained benefited in both my professional and personal life from my membership. To find out more about membership, visit the EO website.
Founded in 1950, YPO has 22,000 members in 125 countries. At the age of 50 members graduate to the WPO, which is a global community within YPO of current and former chief executives.
There is a lot going on in a business. If you’re a leader, manager or entrepreneur, managing your business means you’re wrestling with 136 issues at the same time.
The degree to which you can solve your problems is directly related to your success.
EOS, the Entrepreneurial Operating System®, addresses the issues you face in your business. The degree to which you can simplify and strengthen The Six Key Components™ of your business allows those 136 things to fall into place as they are symptoms of the root cause.
I have been a member of a business peer group and forum since 2003. I continue to get amazing value, both personally and professionally.
As a forum member, I have shared my own experiences and learnt from others in a confidential and supportive environment. This has given me personal awareness that has led to transformational growth.
I was born and raised in a small town in Missouri.
Growing up there has had a huge influence on my attitudes, my personality and my life. The values it instilled – to help people, to do the right thing and to be yourself – stayed with me my whole life.
It also made me determined to travel, explore the world, and embrace my entrepreneurial side, which I was exposed to by my first role model, my father.
This is one of my favourite quotes. “If you always do what you’ve always done, you’ll always get what you’ve always got.”
― Henry Ford
In order to grow your business sometimes you have to look beyond your country borders.
If you are considering expanding into another country, ask yourself these three questions:
- Is my business in a mature market?
- Has it reached market saturation?
- If the answer is yes to both, then where is the most advantageous and attractive market to diversify?
Here are some tips to help you determine a strategy to expand your business internationally.
This week, I was privileged to be asked to speak at the Women Unlimited Thrive 2014 Conference on the topic of how to be a negotiating success.
In my presentation, I shared tips on how to negotiate smarter, and described some effective techniques that work when you are in the middle of a negotiation:
I had such great feedback, I’d like to share some here:
“Excellent talk on top negotiation tips from @JuliaLangkraehr #Thrive2014″
“Really enjoyed this session yesterday – planning to put one of tips into action on Monday! #Thrive2014”
“@women_unlimited @Thrive2014 great presentation from @JuliaLangkraehr on negotiation skills learn to say no”
“Excellent tips on #negotiating at #Thrive2014 from @JuliaLangkraehr”
“Excellent talk on top negotiation tips from @JuliaLangkraehr #Thrive2014”
“Great negotiating tips from @JuliaLangkraehr at #Thrive2014 Already planning to use next week”
If you’d like me to speak at your event, either about the key to negotiating success, or another topic, such as how to grow your business, or the benefits of partnerships to business growth, please do get in touch.
Hands up if you dread networking – or even the word “networking”?
Often people view it negatively because they don’t enjoy it. Others feel like they’ve been used by someone at a networking event.
For me, networking is something I really love. So I stopped to think, why do I love it and what do I do differently that makes it a positive experience for me?
I think a lot of it is down to attitude. I don’t regard networking as simply chatting to someone at an event, exchanging business cards and then never following up, or chatting to someone to use them.
When I attend an event, I always have a goal – to meet cool people and learn something new. For me, the best way is to work out how to connect and relate to people as individuals.
Are you a goal-setter? Do you set New Year goals? I’m a goal setter, and always review my last year’s goals and set targets for the new year.
I make sure my goals are SMART, which stands for:
S – specific: as detailed as possible
M – measurable: how will I know when I have achieved it
A – accountable or assignable: who is going to do it (usually me)
R – realistic: is it achievable?
T – time-related: by when will I complete it – a specific date
I’ve found the following apps help me to stick to my resolutions and achieve my goals.
One essential read for me is the brilliant online BOE Magazine – the Business of Everything, so I was thrilled when they asked me to contribute the first in a series of video interviews for them.
We started filming on Friday, at the lovely Malmaison Hotel in Charterhouse Square, and there is more to do in January, so I’ll keep you posted about when it’s released.
In the meantime, here’s a flavour of the filming in action:
These quick tips are for any would-be entrepreneurs who dream of starting a business – or planning their next moves …
1. If you don’t take risks, you’ll regret it, so feel the fear & do it anyway
2. Not everyone has the perspective you do, so don’t be afraid to dream big
3. Sometimes when you dream, people conspire to help you
4. If you can visualise and project how you see your dream, then you can put things in place to make it a reality
A key strategy that will help you to build your business and grow is to develop strategic partnerships.
It is one I used time and again as was expanding my business, Retail Profile Europe, and it helped me expand into Russia and Germany.
I firmly believe that you never know where your next partner is going to come from, and networking can help you to build relationships which can lead to great partnerships.
Recently I spoke to a group of entrepreneurs at the Key Person of Influence Brand Accelerator event about how I had four different strategic partnerships as I grew my business, and the benefits they brought.
Every business should have a business plan – one which isn’t just written then left in a drawer, but one which is a working document, which you return to, refer to, revise and update as the business grows, changes, develops and expands.
Here are the key elements I think you need to include in your business plan:
1. Title page and contents
These are important as they mark you out as a professional, serious business – and make the document easy to use.
2. Summary of what the business does
This should be the About Us of your business answering in brief the all important who, what, where, when and how questions:
- What you do?
- Who does it – and who for?
- Where you do it?
- When you do it?
- How you do it?
If you are planning a new venture or new product, this is the place to include this.
There’s a lot of talk nowadays about how the importance of entrepreneurship to rebuild the economy, and there are a lot of people out there with great ideas for setting up their own businesses.
But for everyone who succeeds in building a thriving business, there are far more who feel it’s like climbing a mountain and never reaching the top. To have half a chance of success with your start up, there are three key things that you need to consider:
1. Make sure your business is not based on just a good idea, but based on solving a problem or offering a service that people will value. You can have the best idea in the world, but if no-one is prepared to pay for it, your start up won’t be a success.
2. Make sure you, your business partners and the team are aligned on the mission, vision and values of your business, so you all know and agree on the purpose, aims and direction you want to take the business and most importantly on the timelines and time-horizons. There is no point deciding that you want to expand overseas within the next year if your partners priority is to consolidate your business here for the next five years.
3. Have persistence and tenacity and do not give up. It might feel like you’re climbing Everest, and it will take you twice or three times as long as you thought to reach your business goals, and you may have to deviate or alter your plan and your goals. But you’ll never get to the top if you stop trying.
It gives daily planning and to-do lists, which syncs with the cloud so it works on all your devices and integrates with emails, calendar and Google tasks. It gives you alerts when you are due to do something, will schedule meetings for you and make calls, text and email. You can share lists with friends and colleagues, it even has speech recognition and to clear tasks you just need to shake it.
2. Timer +
It lets you set multiple timers at once – by the second, minute and hour. It’s got seven different alarms and you can save, label and reuse different times.
I love baking, so I use it when I’m cooking, and I’ve also saved the timer for my yoga stretches so I don’t have to reset it every time.
- You get what you wish for, so know and define exactly what you want and make sure your goals are SMART: Specific, Measurable, Attainable, Realistic and Timely
- Once you’ve defined your goal, learn how to tell a story about why you want it. Use a triangle of three things – your past experience, what future behaviours you are going to take and how it makes you feel)
- Create a list of stakeholders and people who could help you achieve it, even if you don’t know them