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Q: Starting, growing, managing and leading a business is a tough gig. It's important we don't forget the lighter side of things, have a bit of fun so here's my 10 point accountability tool using the initial of my first name.
Partnerships – continue to build partnerships with people - you never know who could be or help create a new business opportunity.
Payment – if you're running a business, you're not guaranteed a paycheque each Friday. You need paying customers so respect and understand your own time management, systems, processes, profit margins and the value you offer.
Persistence – ain't that the truth. The key to persistence is being able to celebrate wins and enjoy the moment.
People – surround yourself with good people who believe in the business, the vision and prepared to go outside their comfort zone for themselves, the business and the team.
Plan – long and short term. Make Monday the day you plan for what you want to achieve the following week and see how many meeting you have scheduled. If the calendar is bare then you can’t expect to achieve any plans.
Play – play around with ideas and sales pitches for selling. It's not an exact science and yes you're a salesperson, we all are. Put an imaginary hat on and just play the role. Who wouldn't want to be an actor in a Hollywood blockbuster?
Poor me – you’ve only got a couple of minutes because people will stop listening. Keep the glass half full.
Process – what processes do you have in your business to ensure your customers have the best possible experience?
Procrastinate – Recently, I was working with a group of 10 self-employed people and they were asked to write down the one thing they would like to stop doing for their business to move forward. Everyone, 100% had written “stop procrastinating” What’s the Nike slogan?
Proud – be proud of what you do. I meet a guy a couple of weeks ago who just started his own I.T business. When I asked him what the business was he looked down at the ground and mumbled IT Services. If you aren’t proud and if you haven't got that imaginary hat on then why would people pay for your services or products?
There's mine, I’d love to hear yours. If your first name starts with a P, then feel free to put the hat on.
A: Very insightful, my husband runs his own business so we might try this exercise over the weekend.
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Q: We would like to extend the interest-only period on our home loan but our lender is now saying due to recent changes to the way they calculate how much we can borrow they won’t approve the extension.
The loan is $650,000 and the property would be valued at $800,000. Do all lenders use the same calculation process and will that stop us from refinancing?
A: Thank you all for your answers. I'll look to touch base in the coming days as we do need to refinance. Regards Katherine
question
Q: We would like to extend the interest-only period on our home loan but our lender is now saying due to recent changes to the way they calculate how much we can borrow they won’t approve the extension.
The loan is $650,000 and the property would be valued at $800,000. Do all lenders use the same calculation process and will that stop us from refinancing?
