Episode #33: Tim Stokes | How to Set up a Business that Can Run on Autopilot
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Worldwide Business Coach of the Year 2000 Shares How to Set up a Business that Can Run on Autopilot Striving to fast track your business growth? Consider heading to the practical solutions wherein common challenges of businesses are getting resolved. An internationally recognized business expert and a record-breaking successful entrepreneur, Tim Stokes, reveal the essential elements of growing your business by leaps and bounds.

Key Questions Asked:

What method did Tim consider in order to manage business growth? What are the common challenges that every business owners encounter? Regardless of the type of industry, what are the solutions for each of the common problems raised by every business owner? How did Tim figure out and implement each of these solutions based on the type of the business? How did he identify a coach or mentor, to whom he wanted to learn from? How did Tim get his first client? How does he market his services at this point? As a business mentor, what would be Tim’s advice to business owners to accelerate the growth of the business?

Highlights of the Lessons Learned:

Running your business on “Autopilot” targets Three (3) major objectives:

1. Accelerating growth of the venture;

2. Optimizing profits with less supervision and physical engagement of business owners;

3. Systematizing and streamlining of business processes.

The basic steps in setting up the business on autopilot are:

Put up a system or avail ready-to-use systems, templates and measuring tools that can monitor and scale the progress of the venture; By addressing and implementing practical and permanent solutions to the common challenges that every business owner encountered.

Tim Stokes’ identified 4 common challenges every business owner needs to resolve namely:

1. Heading employees

The business owner should define employees’ skills and capabilities together with the attitude towards work.

Injecting proper motivation, team building, and improving morale of each employee is the proven, effective ways to sustain and increase productivity of the business.

2. Lack of time

This is about setting clear priorities which directs business goals through time management.

3. Lack of cash

One of the effective ways to gain a strong cash flow is by taking an aggressive selling and marketing. The business owner needs to be extremely good at selling and marketing their – by establishing USPs (Unique Selling Proposition.

4. Heading the business to grow

This involves implementation of business strategies and right mindset of each business owners and startups.

Tim believes that there are same challenges arise in every business, and these have the same solutions no matter what the industry is. Tim has gained expertise in the craft by putting so much value in learning the essentials of business management – which includes selling and marketing.

Coaching and Mentoring: The Ultimate Shortcut to Success

A business coach is a common invaluable investment which every successful business has been into. So-called as the shortcut because adapting insights and wisdom from the mentors in the early years of business, clearly saves time.

With this, a business owner or start-up does not need to live out the experiences of the same mistakes.

How To Grow Business

Tim has effectively marketed his business through:

Social media platforms such as Linkedin, Facebook, etc. Alliances in the market sector Engaging with competitors in a win-win business relationship Referrals – This means that is very important to tailor your medium of marketing to what applies today, and it is equally important to determine your specific target market in order to reach the right and potential audience.

Business owners need to become a master learner – as only then they can correctly implement the strategies.