And live the life of your dreams
The Law of Business
Roles for owners change as revenue increases. Working on the business leads to higher Net Profit Margins that free up cash to afford to pay the extra employee to free up more of your time.
With spare time you can build your team, implement and refine systems, introduce KPIs and have a dedicated, dependable team who work hard, even if you're not working in or on the business.
That's the business freedom outcome.
Every electrician business has untapped potential waiting to be optimised, to increase the Net Profit Margin. Here are key areas where our electrician clients have experienced high margin increases.
Learning these skills can transform a workplace, increasing employee happiness, productivity and ability to work without supervision.
Conversion rates from leads to sales can always be improved. It's "free money" waiting to be unlocked with numerous, effective strategies that allow higher prices.
Two essential systems for any business are a recruitment system and an induction system. With these systems you can replace or hire employees easily and effortlessly.
Knowing exactly what to measure and understanding what the numbers reveal leads to higher profit margins. Meaningful reports lead to more confidence with important decisions.
Most websites are nowhere near their potential and can be easily optimised to increase leads by 20% to 50% within weeks, with CRO and on-page SEO.
Working with businesses for over 20 years has led to clear insights into exactly what management reports a business needs. Our mentoring includes that, plus interpretation of the numbers.
Clint, the owner was operating a business with 3 tradesmen and himself in Townsville, but he was working 80 hours every week, with no change in sight.
In just 10 months the business has increased leads, sales and income to have 9 employees, systems in place for service work, pricing, admin, recruitment, and management reporting.
The business owner tested not working in the business for a week - with success, and then moved to Cloncurry to renovate his new investment properties.
His business and team keep working smoothly without him being there. Later bought a new motor-home and travelled around Australia for three years with his family.
Chris had been operating his business for over 15 years and it was steady at $1,200,000. He was working 55 hours per week every week with no change in sight.
Chris wanted more out of his business, to see it grow, for margins and improve and to have a better team where he had more time.
A year later, his business had grown to $1,720,000 and the net profit margin was at 25%.
Chris reduced his hours from 55 to be working a 4-day week of 32 hours, although his business didn't need him.
He then enjoyed a 2 month holiday in Indonesia, surfing in a remote location with no internet or phone access. He was living the dream life of 'business freedom' with a business that operated profitable and smoothly without him.
While there is loads to learn about the best business practices from within your industry, there is 100 times more you can learn about entrepreneurship from outside your industry to become an extremely successful business owner.
Building 7 service businesses and working with 1,000+ owners of successful companies for over two decades, has led to many powerful and profitable insights into business success that can be applied to the majority of businesses.
Why Try to Reinvent the Wheel?
All businesses have many common success ingredients.
If you've been in business for over 10 years and want to learn new, fresh strategies and systems, that only a handful of business owners are aware of, from both within and outside your industry, this is where it can begin.
Imagine 1,000 different service businesses all sharing their best, proven practices, systems, and strategies that allow the business to operate with industry leading net profit margins - and without the owner's time or energy.
Setting up businesses to operate on autopilot - where working in your business becomes optional - that's what's achievable using a 7-step formula.
Business freedom mentoring uses the formula along with supplied systems and strategies to set your businesses up to operate and grow without you, just as other electrician business owners have over the years.
CHOOSE YOUR PATH
There are 3 common coaching focus areas. What do you want to improve in your business?
Tim Stokes is one of Australia's most experienced small business entrepreneurs, coaches and mentors. He's built six businesses over his 40+ years in business and worked with thousands of businesses in four countries.
He's a full-time researcher into entrepreneurship, extreme business success and setting businesses up so that working can become optional. He has invested over $150,000 in learning from marketing experts, entrepreneurs, business gurus and legends of international business.
With over 20,000 hours of research, development and refinement of his strategies, systems, management tools and methodology, he is respected and recommended by dozens of accounting firms, who see his results in their client's financial reports.
Tim was a pioneer in the business coaching industry being one of the very first, starting in 1997 as a "pilot" franchisee. He became the "Worldwide Business Coach of the Year in 2000" with ActionCoach, the first time they created the award. ActionCoach is the largest business coaching organisation in the world.
Tim has also spoken to thousands of business owners in self-marketed seminars, webinars, workshops, and courses. He has worked one-on-one delivering business mentoring programs in 4 countries, Australia, New Zealand, the USA and Canada. He is highly respected by leading accounting firms with dozens referring hundreds of their clients to his programs.
PO Box 789 Kenmore
QLD 4069 Australia
P: +61 7 3194 0477