Introduction to Your Core Business Numerology Profile

In business numerology there are three main numbers that make up the core business profile. They are your business:

  • Path – these are the strengths and opportunities of your business
  • Expression – this is your business mission or the role your business is here to serve
  • Motivation – this the message your business is here to share or your business niche

This information is found using the registration date of your business (business path) and your business name (business expression and motivation numbers). Personal numerology uses your full birth name and date of birth.

In an ideal world your core personal profile would align and support your core business profile. This is particularly important if you are a sole trader, solo-preneur or have a single owner/operator business.

If you are in a partnership, company, trust or any other entity structure then you will need to take the details of each of the main people involved (eg. Directors, partners, trustees etc.) into account.

This can be beneficial in helping to decide who is best suited to which role based on the strengths indicated in their personal numerology profile.

How do Personal Numerology and Business Numerology Differ?

Normally personal numerology has five core numbers:

  1. Life Path
  2. Expression/Destiny
  3. Heart’s Desire
  4. Personality
  5. Maturity

Some people include the birthday number instead of the maturity number.

In personal numerology your life path is the most important number. It makes up 40% of your profile. Your expression number makes up 30% and your heart’s desire number makes up 20%.

You may have noticed there are also two other core profile numbers. They are the personality number and the maturity number. Both numbers are split equally between the remaining 20% (10% each).

In business numerology however, there are only three core numbers rather than five. The personality and maturity numbers are two that are missing from the core business profile as they not really relevant.

Another difference is the percentage each number represents. Equal emphasis is placed on the business path and business expression numbers (35% each), while the business motivation number is only marginally less (30%).

Why is The Split Not an Equal One?

The reason for this is because the drive and motivation of your business can be overridden by you, the business owner or your personal numerology profile.

That is why it is so important your core business profile aligns with your core personal profile. If not, you may experience some unnecessary problems and obstacles on the path to achieve your business goals.

This article is part of the 4 part “Your Core Numerology Profile” series, where each article looks at a different element of the core business profile. Today, in part one, we covered what business numerology is and how it differs from personal numerology.

In parts 2-4 I will show you exactly how you can find your business path number (part 2), expression number (part 3) and motivation number (part 4). I will also share with you what they mean.

Don’t want to wait for part 2 but are interested in finding out more about how you can use numerology? No problem!

Keeping Passion in Your Business in 2014 and Beyond

In addition to the challenges of maintaining passion and excitement for your business, entrepreneurs also face challenging, economic conditions. However, it is a fact that entrepreneurs and small businesses are the cornerstone of a sustainable economy. This fact alone should be an encouragement, but is it enough to keep the passion alive? Probably not, so now that 2014 is off and running, it is the perfect time to ensure you are moving according to plan and keep the passion ignited.

Exactly, how does an entrepreneur or small business owner maintain the PASSION?

P – Plan and Position

A great resource to help re-evaluate your plan is a book by Michael E. Gerber, The E-Myth Revisited: Why Most Small Businesses Do Not Work and What to Do about It. In this book, Gerber contends that “the problem is that everybody who goes into business is actually three-people in one: The Entrepreneur, The Manager, and The Technician.” Gerber guides the small business owner into a clear understanding of their various roles and how each role is distinctly different but important to the success of the organization. The entrepreneur serves as the visionary, the manager oversees planning and the smaller details that ultimately guide the effectiveness and efficiency of the outcome, and the technician gets the job done. Is your infrastructure designed to maximize each role? Are there areas that can be delegated or outsourced?

Once you have answered these questions, it is a great time to write a one-page business plan if you do not already have one in place. A one-page business plan should include a concise plan for the year. If done appropriately, it will guide a business to success one quarter at a time. It will also encourage clarity on monthly, weekly, and daily planning and tasks. It should include specific themes and marketing strategies for each quarter. It is wise to remember that, typically, marketing strategies take time to work and should be evaluated on a quarterly basis. Always inspect what you expect and make sure systems are in place for consistent follow up and follow through. In addition, effective sales and marketing systems are paramount to the success of the plan but must be supported by strong infrastructure.

A – Attitude

Charles R. Swindoll said, “The longer I live, the more I realize the impact of attitude on life. Attitude to me is more important than facts… we cannot change our past… we cannot change the fact that people will act in a certain way. We cannot change the inevitable. The only thing we can do is play on the string we have, and that is our attitude. I am convinced that life is 10 percent what happens to me and 90 percent how I react to it. And so it is with you… we are in charge of our attitudes.” What is your attitude toward your business, your clients, and yourself? Does it need a reality check? If so, now is the time. Find the significance in every opportunity even if it appears to be a waste of time but do be mindful of how you invest your time. Embrace change with a can do attitude and constantly monitor your circle of influence. They say you become like the people you are around the most. Attitude can make a huge difference in gaining the trust and confidence of a new client or losing a ton of business because of a poor attitude toward that one client. The news of bad experiences travel much more quickly than pleasant ones.

S – Sound Strategies and Scalable Solutions

Sound strategies create a firm foundation. In his book, Michael E. Gerber stresses the importance of a business implementing the following strategies: Organizational, Management, People, Marketing, and Systems. Now is the time to ensure that your business has these strategies in place. Also, it is important to make certain you are maximizing your team’s talents and investing time and money into cost effective resources.

Developing scalable solutions is another vital area. Scalable solutions are systems that can be expanded as your business expands. For instance, if you invest in specific software, be sure that the software has the capacity to serve more functions as your business grows. It helps to keep this in mind as you are developing, re-evaluating your systems and business model or solving a business challenge. It is a cost saving measure to ensure the systems have the capability of being replicated on a larger scale and the ability to be used for multiple functions.

S – Success-Driven Mindset

As an entrepreneur with a success-driven mindset, making solid decisions and taking action is a daily routine and is critical to the success of the company’s bottom line. A success-driven mindset requires prioritizing and a great work ethic. It requires doing the most important activity right now and finding the opportunity in every obstacle. A business owner with a success-driven mindset also seeks continual education in his or her industry or profession.

I – Inspect and Expect

Again, the one-page business plan is critical to keeping an entrepreneur focused on the activities that directly impact the bottom line. Many business plans are created but the best plans are the ones that are put into action. Pick up your 100 page business plan, dust it off, and create your one-page plan of action. This will help you inspect what you expect. Here are some categories to consider including (bullet point as much as possible):

  • Mission
  • Vision
  • Theme
  • Goals
  • Marketing Strategies
  • Total Yearly Budget
  • Income Projection with concise explanation
  • Cost Projection with concise explanation
  • Business Model with income streams (products, services, etc.)
  • Key Performance Indicator Plan
  • Future Income Streams
  • Expenses
  • Personal Growth Goals (skills you want to improve or credentials you are seeking).

Whether you alter a system or implement a new one, it is vitally important to do periodic inspections to ensure effectiveness. Also, when delegating tasks, it is important to follow up and make sure you have the right people for the right tasks and that the appropriate infrastructure is in place to support the goal.

O – Overdeliver and Underpromise

Superb customer service is guaranteed to keep your pipeline filled. Nothing travels faster than word of mouth and word of mouth can be your greatest ROI (return on investment) because it is FREE. By providing superb customer service, you are telling your customers you appreciate and value their business. One of the main goals of customer service should be to make your customers feel like they are special and that you go beyond the call of duty to fulfill their needs. Great customer service is an ultimate sales tool that is often overlooked and underutilized. If it is not taken seriously, word of mouth can also become your greatest liability. It is also important to refrain from making promises you can not keep. However, communication is key if you are not able to deliver the product or service at the agreed upon time.

N – Network with Impact

The question is not what someone can do for you but what value can you bring to someone else? It is important to manage the investment of time and money when networking or building relationships. Look for organizations where you can develop mutually beneficial relationships, build collaborations, and strategic alliances. Include networking in your one-page business plan because it is a huge discipline and marketing strategy.

After you have identified your networks, what is the next course of action? Determine what you would like to accomplish prior to the event, be sure your business card and elevator speech convey what you offer, identify your uniqueness, and what problem you solve. It is also important to ask your new contacts how you can help them and be specific in telling them what you are looking for. As soon as you receive a business card, record the date, where you met the individual and key reminders. Finally, be sure to follow up within 24 hours. Remember, a new relationship takes time to develop and consistent communication is key.

We can learn from an old Chinese Proverb: “When you hear something, you will forget it; when you see something, you will remember it; but not until you do something, will you understand it.” Act on the information provided, focus on the opportunities and not the challenges, and you will keep the passion in your business and continue to make a difference in our communities and the world.

The Basics of Business Litigation

Owning your company and being your own boss involves a great deal of responsibility. Being a successful business owner also means understanding the basics of business litigation and being prepared for potential legal issues should they arise. Although no company goes out looking for legal problems, these issues can impact virtually any business, and preparation is essential to avoiding long term damages.

Just as a litigation process exists for consumers, a process also exists for customers. Professional litigation addresses the problems and challenges unique to the business world. Having a handle on its fundamental lessons can help any business run more efficiently and can help any business owner determine when the appropriate time is to hire a professional. With an understanding of business litigation 101; as a small business owner you can help keep your company protected from potential legal issues and be prepared to hire a professional, when necessary for legal advice.

Understanding the Basics – What It Is and What it Isn’t

Simply put, business litigation involves resolving disputes as they relate to a company. According to the National Bar Association, business litigation is defined as the practice of law in dealing with legal issues related to problems that arise from business and commercial relationships. When these issues arise, most business owners will need to hire a professional attorney to assist with these legal matters. Typically, a business litigation attorney will evaluate, handle and resolve these issues before federal and state courts.

Typically, this type of litigation can mean dealing with issues between two companies or between new and old partners within the same organization. This type of litigation is not involved in disputes between a consumer or client and a company, though a reputable and well rounded attorney practice can easily handle that aspect of business law as well.

As a business owner, you know that your success highly depends on the business relationships you maintain. Dealing with ugly disputes or contract issues can tarnish the quality reputation you have built for your company, and result in significant losses. This is why being prepared and understanding these legal matters is so important.

Common Business Litigation Disputes

Preparing for business litigation issues before they happen is the best way to help protect your company from significant legal issues or damages. Here are some of the common types of business litigation disputes that impact small business owners today:

- Franchise Issues- When establishing new franchisees, brokering agreements, etc., many times a business litigation professional will be called in to handle the entire process on behalf of the business owner.

- Shareholder and Partner Disputes- Business owners who are facing potentially damaging repercussions from shareholder or partnership disputes, can call a professional to develop an offensive strategy to handle these disagreements.

- Fraud Litigation- This involves a single party knowingly lying in their contract in an effort to entice a partner or other company into a misleading deal or agreement.

- Insurance Litigation- Legal experts can help company owners with disputes over coverage between the insured and the insurers.

- Company Purchases- This includes the sale or transfer of ownership of a business.

- Breach of Contract- Business owners can get the protection they need when a party does not adhere to the conditions put forth in their contract.

The good news for small business owners is the average business litigation attorney will be well-versed in handling these types of issues and can help business owners handle these disputes with ease.

Being Prepared for Potential Litigation Issues

Discussing sensitive legal matters such as this can, understandably, make some owners a bit uncomfortable. No one relishes the idea of being in court, or having to escalate a professional dispute to that level. However, understanding the basics can be instrumental in helping any business owner avoid court and legal drama all together.

Take the time to learn about what aspects of litigation your company may be vulnerable to, and what type of common disputes tend to impact other business owners. If you’re considering expanding or growing your business in any way, then business litigation can come into play. Talking to a lawyer who understands these special challenges and situations can help arm you with the knowledge you need while putting your mind at ease.