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One Minute Business Checkup

How to prevent ‘tyre kickers’ in your business

Can you remember what it was like when you did all your research in person?

Those were the days when you went to display home villages and went through all the homes looking to see if you liked one that suited your lifestyle.

Before going you knew very little detail and were in no position to make any decision because your ability to do research was limited.

Fast forward to today and because of the internet and all the content online you can have a look through all the homes before you even go near the display village.

Most of this research is working out what you DON’T want. You’re qualifying which homes really are worth pursuing.

So how does this apply to your business?

If your prospects know very little about you then you have not allowed them to do sufficient research and you may end up with lots of ‘tyre kickers’ who waste your time.

Prospects should know more about you than you know about them.

If you have the correct web presence then they can find out enough about you to qualify themselves and also to be in a position to move more quickly once you have met them face to face.

What is your experience with tyre kickers?

How much of a time waster have they been in your business?

Why do banks always want my home as collateral for borrowings?

Do you ever feel like a slave just working to make payments to your bank. Many small business owners live under the pressure of debt and the worry that if their business fails or falters the bank could take their family home.

Today Andee looks at why banks want to take security over your family home for business borrowing and identifies two strategies that you can use to work towards a position in your business where you can release your family home from the clutches of the bank.

The Vlog series comes from One Sherpa an online global membership community dedicated to helping small business owners succeed and prosper.

The series is filmed on location around Melbourne, Australia and answers questions commonly asked by small business owners.

This video is filmed from Wicks Reserve and answers the question ‘Why do banks always want my home as collateral for borrowings?’

It’s so hard, I feel like giving up!

I haven’t met a business owner who hasn’t had this experience sometime in their life so if you’re feeling like this today then you’re not alone.

Thousands of business owners have felt like this and often for very different reasons.

Here’s a few examples you might relate to:

  • Cash flow is just not flowing because customers won’t pay their accounts.
  • Staff are leaving and you feel as though no one is left to help you.
  • Technology is great except when it won’t work and you feel hostage to it.

So what’s the answer!

There is a well known saying ‘The night is always darkest just before the dawn,’ which is true for all of these circumstances.

If running a business was really easy then you’d probably find more people who were doing it.

Think about this:
When you’re half way up a mountain and feeling tired don’t look up. You’ll only feel discouraged at how far you’ve still got to go. Look back down the mountain and encourage yourself with what you’ve already achieved.

When you feel discouraged it’s time to look back at everything that you’ve achieved to date.

From experience I can tell you that it’s not until you have achieved a few things that you’ll feel discouraged and want to give up. In the early part of your business you’ll be so pumped and motivated that you’ll have no need to reflect.

It’s only when you have been on the road and achieving quite a lot does it seem as though everything is too hard and you want to give up.

So what’s your experience on this?

When do I know if I’m pouring good money after bad?

The key to success is to get things right more often than you get things wrong, and an important element of this is recognising when something is not working and cutting your losses so you don’t throw good money after bad.

Today Andee looks at three situations in business where many people throw good money after bad. If you are caught in any of these situations we suggest you take a long hard look at what you are doing and consider a change of strategy.


The Vlog series comes from One Sherpa an online global membership community dedicated to helping small business owners succeed and prosper.

The series is filmed on location around Melbourne, Australia and answers questions commonly asked by small business owners.

This video is filmed from the Rye Back Beach and answers the question ‘When do I know if I’m pouring good money after bad?’

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