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Episode 19: Partnerships vs Alternatives by Business Benchmark Group

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Episode 19: Partnerships vs Alternatives
In this Think Tank, Stefan explores business partnerships, and how to make them successful in comparison to other alternatives.

There are many good reasons for getting into business partnerships, but in order for a successful outcome – for all parties – there are many issues you must first consider and traps you must avoid.

Partnerships are all about negotiations, so you must take your time to understand each party’s position (which is shown in their behaviour) and their interests (the motivation behind the behaviour).

You must also beware of which party has the most alternatives in a partnership negotiation, because the person with the most alternatives, has the most power in any type of negotiation.

Stefan also shares 3 components of any successful partnerships.
1. There must be a desire.
If you’re convincing (hard selling) to get someone into a partnership, it will boomerang on you. Go slow to go fast!

2. There must be an agreement, in writing, witnessed by someone who is not cheap. Not a handshake deal. In this highly litigious environment we’re in, you must ensure there is a “business prenuptial.”

3. Know that there are no fixed rules – so you must ensure you have complete clarity and understanding of everyone’s responsibilities.

This episode is full of fantastic learnings for everyone who has considered getting involved in a business partnership. Enjoy!

– – – – – – – – – – – – – – – – – –
Links to upcoming events:

Business Breakthrough Workshop:
http://businessbenchmarkgroup.com.au/events/business-breakthrough-workshop/

Board of Directors 12:
http://businessbenchmarkgroup.com.au/coaching-programs-melbourne/group-coaching/

– – – – – – – – – – – – – – – – – –
Need a business coach?
Visit businessbenchmarkgroup.com.au.
Email info@businessbenchmarkgroup.com.au

Subscribe to our podcast:
iTunes:
https://itunes.apple.com/au/podcast/business-benchmark-group-podcast/id1372652118?mt=2

SoundCloud:

iHeartRadio:
https://www.iheart.com/podcast/269-Business-Benchmark-29372537/

Stitcher:
https://www.stitcher.com/podcast/business-benchmark-group-podcast

PodBean:
https://www.podbean.com/podcast-detail/yi4rd-6bc65/Business-Benchmark-Group-Podcast

ACast:
https://acast.com/businessbenchmarkgroup

Our Website:
http://businessbenchmarkgroup.com.au/resources/podcasts/

Genre
Business

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Episode 18: Interview with Bek McMillan – Owner of Gourmet Living by Business Benchmark Group

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Episode 18: Interview with Bek McMillan - Owner of Gourmet Living
Bek McMillan is the owner of Gourmet Living in Templestowe Victoria (https://www.gourmetliving.com.au/).

Bek shares her really incredible business journey, which started with just an idea, and led to her being named as a Finalist in Telstra’s Young Business Woman of the Year in 2015.

Bek achieved incredible success in a short space of time. In a period of just 12 months, Bek was able to increase her revenue by 350%, more than double her average dollar sale and double her database.

Much of that growth occurred when she was a Board of Directors 12 member at Business Benchmark Group.

She shares how important Board of Directors was for her success – including being held accountable to the plans she made, structuring her work so that she focused enough time on growing her business, and implementing processes for sales and following-up leads.

There are useful lessons and inspiring motivation here for every small business owner. Enjoy!

Visit Gourmet Living:
https://www.gourmetliving.com.au/

– – – – – – – – – – – – – – – – – – – – – – – –
Need a business coach?
Get in touch with Business Benchmark Group!

Visit businessbenchmarkgroup.com.au.
Email info@businessbenchmarkgroup.com.au
Call 03 9001 0878

– – – – – – – – – – – – – – – – – – – – – – – –
Buy Stefan’s Books:

“How to Grow a Business”
https://www.amazon.com/How-Grow-Business-Stefan-Kazakis/dp/0994545274

“From Deadwood To Diamonds”
https://www.amazon.com/Deadwood-Diamonds-Business-Achieve-Success-ebook/dp/B00J1V0TWI

– – – – – – – – – – – – – – – – – – – – – – – –
Subscribe to our podcast:

iTunes:
https://itunes.apple.com/au/podcast/business-benchmark-group-podcast/id1372652118?mt=2

SoundCloud:

iHeartRadio:
https://www.iheart.com/podcast/269-Business-Benchmark-29372537/

Stitcher:
https://www.stitcher.com/podcast/business-benchmark-group-podcast

PodBean:
https://www.podbean.com/podcast-detail/yi4rd-6bc65/Business-Benchmark-Group-Podcast

ACast:
https://acast.com/businessbenchmarkgroup

Our Website:
http://businessbenchmarkgroup.com.au/resources/podcasts/

Genre
Business

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Episode 17: The Most Successful Business Model In The World by Business Benchmark Group

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Episode 17: The Most Successful Business Model In The World
How do you build the most successful business model in the world?

Generating repeat customers and getting referrals is the most effective and affordable way to build your business.

It costs far less to keep an existing customer, and to get referrals from those customers, compared to any other marketing technique.

Repeat and referral customers also require less work to convert to a sale because they already have some familiarity with you, and reason to trust you.

Stefan shares a three-part formula to business success for any business, and the three aspects of creating your selling propositions to have a ‘difference’ factor that keeps you ahead, or in the minority, of your industry.

Stefan also shares how important it is to leverage other people’s networks in order to grow your own business – and getting your tribe to do your selling for you.

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Download our white paper – “How to build an effective referral strategy in your business” – from our website.

http://businessbenchmarkgroup.com.au/resources/learn-how-to-harness-the-power-of-the-referral
– – – – – – – – – – – – – – – – – – – – – – – – – –
Need a business coach?
Get in touch with Business Benchmark Group!

Visit businessbenchmarkgroup.com.au.
Email info@businessbenchmarkgroup.com.au
Call 03 9001 0878

– – – – – – – – – – – –
Buy Stefan’s Books:

“How to Grow a Business”
https://www.amazon.com/How-Grow-Business-Stefan-Kazakis/dp/0994545274

“From Deadwood To Diamonds”
https://www.amazon.com/Deadwood-Diamonds-Business-Achieve-Success-ebook/dp/B00J1V0TWI

– – – – – – – – – – – –
Subscribe to our podcast:

iTunes:
https://itunes.apple.com/au/podcast/business-benchmark-group-podcast/id1372652118?mt=2

SoundCloud:

iHeartRadio:
https://www.iheart.com/podcast/269-Business-Benchmark-29372537/

Stitcher:
https://www.stitcher.com/podcast/business-benchmark-group-podcast

PodBean:
https://www.podbean.com/podcast-detail/yi4rd-6bc65/Business-Benchmark-Group-Podcast

ACast:
https://acast.com/businessbenchmarkgroup

Our Website:
http://businessbenchmarkgroup.com.au/resources/podcasts/

Genre
Business

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Episode 16: Interview with H2-Pro owners Tristan Wise and Tony Welsh by Business Benchmark Group

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Episode 16: Interview with H2-Pro owners Tristan Wise and Tony Welsh
Interview with the owners of family-run plumbing business H2Pro, Tony Welsh and Tristan Wise.

Tony started working on his own business in 2000 with the philosophy that he offered “more than ‘Bum Crack and Blue Heeler’ plumbing” – it was plumbing with professionalism.

Over the years, the business evolved to become H2-Pro plumbing. H2-Pro became a client of Business Benchmark Group in 2014, and since then has gone from strength-to-strength, including winning the Manningham Business Excellence Award back-to-back in 2014 and 2015.

Tony and Tristan discuss their business journey, some of the hurdles they’ve had to overcome, and more importantly, many of the successes they’ve had – and what has led to their success.

They discuss the importance of knowing their numbers, the attitude-shift required to spend time working ON the business, not in it, and the importance of building systems, delegating and utilizing technology.

– – – – – – – – – – – – – – – – – – – – – – – – – –
Need a business coach?
Get in touch with Business Benchmark Group!

Visit businessbenchmarkgroup.com.au.
Email info@businessbenchmarkgroup.com.au
Call 03 9001 0878

Genre
Business

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Episode 15: Diversification – Depth, Not Breadth by Business Benchmark Group

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Episode 15: Diversification - Depth, Not Breadth
Stefan explores the topic of business diversification. Many business owners look to diversify their business far too early, putting more and more balls in the air before really mastering one yet.

It’s important to build upon your business’s core strengths – don’t diversify your business into new areas where you spread yourself too thin and become mediocre. Instead, focus on your strengths, leverage your assets and deliver more value to your customers.

Be consistent in your excellence, build upon your repeat business and referral business, and focus on value innovation for your target market – especially in the first phases of business. Only diversify into other markets, or other segments once your core business is solid.

In other words, you need to go deep – that’s where the diamonds are found.

– – – – – – – – – – – – – – – – – – – – – – – – – –
Need a business coach?
Visit businessbenchmarkgroup.com.au.
Email info@businessbenchmarkgroup.com.au

– – – – – – – – – – – – – – – – – – – – – – – – – –

This episode is also available on YouTube:

– – – – – – – – – – – – – – – – – – – – – – – – – –

Find & SUBSCRIBE to this podcast?:

iTunes:
https://itunes.apple.com/au/podcast/business-benchmark-group-podcast/id1372652118?mt=2

iHeartRadio:
https://www.iheart.com/podcast/269-Business-Benchmark-29372537/

Stitcher:
https://www.stitcher.com/podcast/business-benchmark-group-podcast

PodBean:
https://www.podbean.com/podcast-detail/yi4rd-6bc65/Business-Benchmark-Group-Podcast

ACast:
https://acast.com/businessbenchmarkgroup

Our Website:
http://businessbenchmarkgroup.com.au/resources/podcasts/

Genre
Business

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Episode 14: Interview with Ben & Emma Stallworthy, owners of Pinnacle Health Clubs

Interview with Ben & Emma Stallworthy, owners of Pinnacle Health Clubs.

In this fantastic interview, Ben and Emma share the story of their business journey, the challenges they’ve faced and the successes they’ve had as they’ve grown from a single club to the four premises they have today.

This is a must-listen to episode for business owners, especially so for those in the fitness sector.

Ben and Emma discuss how they’ve dealt with the competition of bargain-priced gyms, the trend of 24/7 gyms and how they were able to address these challenges within their own business.

They share the importance of focusing on retaining their clients and how they empower their growing team to grow and take on new responsibilities which has given Ben & Emma the time needed to focus on growing their business.

All this and more in this week’s podcast.

Visit Pinnacle Health Clubs
www.pinnaclehealthclub.com.au

– – – – – – – – – – – – – – – – – – – – – –

Do you have a question for Stefan to answer in an upcoming episode?

Submit your questions via email to stefan@businessbenchmarkgroup.com.au or get in touch with us on social media!

Twitter: @BusBenchmarkGrp
https://twitter.com/BusBenchmarkGrp/

Facebook:
https://facebook.com/businessbenchmarkgroup/

LinkedIn:
https://www.linkedin.com/company/business-benchmark-group/

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Episode 13: Partnerships – The Good, The Bad & The Ugly by Business Benchmark Group

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Episode 13: Partnerships - The Good, The Bad & The Ugly
This week’s podcast explores the good, the bad and the ugly of business partnerships.

The idea of going into business with a partner can often appear to be a great idea – whether that’s a husband and wife team, a trio of siblings or just a couple of mates who planned their business on the back of a beer coaster!

But as the wise often say ‘all my problems today started out as a good idea’! Every partnership is different and it depends on the business and the personalities involved.

It’s vitally important to do the groundwork first, otherwise not only will the business fail, but any personal relationships will be strained.

Stefan delves into the list of questions you must ask before starting a business partnership, and discusses the strategies you must employ to make sure the partnership works for all stakeholders in the business, and ultimately for the business to succeed.

All this and more in this week’s episode.

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Are you coming to “Your Profit Blueprint” on Tuesday 31st July?

If you’re a business owner, this event is not to be missed.

This is a six hour intensive day to develop a clear, intentional and strategic profit plan to that your business has a clear process to track and grow the three critical areas of yours business: Leadflow, Workflow and Businessflow.

If you’re interested in attending along with your best right-hand person in your business, please get in touch with us at Business Benchmark Group – or find out more on our website:

www.businessbenchmarkgroup.com.au/events/your-profit-blueprint/

– – – – –

Need a business coach?
Visit businessbenchmarkgroup.com.au.
Email info@businessbenchmarkgroup.com.au

Subscribe to our podcast:

iTunes:
https://itunes.apple.com/au/podcast/business-benchmark-group-podcast/id1372652118?mt=2

SoundCloud:

iHeartRadio:
https://www.iheart.com/podcast/269-Business-Benchmark-29372537/

Stitcher:
https://www.stitcher.com/podcast/business-benchmark-group-podcast

PodBean:
https://www.podbean.com/podcast-detail/yi4rd-6bc65/Business-Benchmark-Group-Podcast

ACast:
https://acast.com/businessbenchmarkgroup

Our Website:
http://businessbenchmarkgroup.com.au/resources/podcasts/

Genre
Business

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Episode 12: Being Brilliant At The Basics by Business Benchmark Group

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Episode 12: Being Brilliant At The Basics
As we enter a new financial year, it’s time to take stock of your business and ensure you are continuing to be brilliant at the basics – that’s where the diamonds are found after all.

In this episode, Stefan strips it all back to discuss the basics of building and running a successful business.

Stefan’s golden advice includes the need for business owners to continuously focus on your core business, your core product, your core target market and your core lead generation strategy.

Focus on constantly improve in every area, build momentum and see it through. While there is always a need to innovate and explore the potential to expand, you always need to be brilliant at the basics first.

ANNOUNCEMENTS:

YOUR PROFIT BLUEPRINT
Come to “Ýour Profit Blueprint” on Tuesday July 31, 2018.
A full-day strategic planning session for business owners.

More info:
http://businessbenchmarkgroup.com.au/events/your-profit-blueprint/

BOARD OF DIRECTORS 12:
Want to join Board of Directors 12?
Get in touch, or find out more on our website:
http://businessbenchmarkgroup.com.au/coaching-programs-melbourne/group-coaching/

Genre
Business
License: all-rights-reserved

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Episode 11: Leadership V Crisis Management With Frank Ponissi (Melb Storm Football Manager) by Business Benchmark Group

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Episode 11: Leadership V Crisis Management With Frank Ponissi (Melb Storm Football Manager)
In this special episode, Melbourne Storm’s Football Manager, Frank Ponissi, shares his views on leadership and crisis management.

Ponissi is certainly no stranger to crisis management. In 2010, Melbourne Storm was found to have breached the NRL’s salary cap over a period of 5 years, resulting in punishments including the stripping of Melbourne’s 2007 and 2009 premierships, fines of almost $1.7 million and the team being stripped of all premiership points in 2010.

Ponissi shares how this affected all levels of the club, how he and his leadership team dealt with it, and how others at the club also stepped up to lead the club out of crisis.

Ponissi shares how the Melbourne Storm were able to come out the other side a stronger, better club (including winning Premierships in 2012 and 2017).

He discusses how the strong team culture, with a focus on accountability, has set them up for continued and sustained success.

– – – – – – – – – – – – – – – – – – – – – – – – – –
Need a business coach?
Visit businessbenchmarkgroup.com.au.
Email info@businessbenchmarkgroup.com.au

Subscribe to our podcast:

iTunes:
https://itunes.apple.com/au/podcast/business-benchmark-group-podcast/id1372652118?mt=2

SoundCloud:

iHeartRadio:
https://www.iheart.com/podcast/269-Business-Benchmark-29372537/

Stitcher:
https://www.stitcher.com/podcast/business-benchmark-group-podcast

PodBean:
https://www.podbean.com/podcast-detail/yi4rd-6bc65/Business-Benchmark-Group-Podcast

ACast:
https://acast.com/businessbenchmarkgroup

Our Website:
http://businessbenchmarkgroup.com.au/resources/podcasts/

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Business

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Episode 10: Vision Vs Execution by Business Benchmark Group

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Episode 10: Vision Vs Execution
In this episode, Stefan shares more of his famous “Stefanisms” – key advice on how to constantly improve, and ultimately succeed, in achieving and executing your vision for your business.

Key to this is a need to develop outcome-based thinking. Always ask 3 key questions:
1. What’s working?
2. What’s not working?
3. What will we do about it?

Stefan also discusses the need to always see things from an optimistic perspective, how to prioritize work so that you always get your most valuable tasks done, and how to stay focused on the most important aspects of your business.

– – – –

For more information about Business Benchmark Group’s coaching and training programs:”
Visit businessbenchmarkgroup.com.au:
Call 03 90010878.
Email info@businessbenchmarkgroup.com.au

– – – – – –

Find this Podcast & Subscribe:

iTunes:
https://itunes.apple.com/au/podcast/business-benchmark-group-podcast/id1372652118?mt=2

SoundCloud:

iHeartRadio:
https://www.iheart.com/podcast/269-Business-Benchmark-29372537/

Stitcher:
https://www.stitcher.com/podcast/business-benchmark-group-podcast

PodBean:
https://www.podbean.com/podcast-detail/yi4rd-6bc65/Business-Benchmark-Group-Podcast

ACast:
https://acast.com/businessbenchmarkgroup

Our Website:
http://businessbenchmarkgroup.com.au/resources/podcasts/

If you like this podcast, please rate it on iTunes, Stitcher or Soundcloud, and leave some feedback as well.

Genre
Business

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