Business Owners & Entrepreneurs Podcast With Peter Boolkah | Business Coach | The Transition Guy®

Why Arcadia Group Couldn't Find a BuyerCONNECT WITH PETER BOOLKAH:--------------------http://www.Boolkah.comhttps://www.facebook.com/Boolkahhttps://www.instagram.com/pboolkah/https://www.linkedin.com/in/boolkahhttps://twitter.com/boolkah--------------------ABOUT PETER BOOLKAH--------------------Peter Boolkah (AKA The Transition Guy) is the World’s #1 Business Transition Coach whose main passion in life is to work with talented and high performing business owners who are in the process of creating exciting, high growth businesses. Peter helps you to navigate and transition through the crucial growth pains that all growing businesses experience making it as painless and exciting as possible.It is important to remember that businesses do not just grow and develop on their own, it is up to us and our teams to make this happen by making every day purposeful. As businesses grow some parts of the journey will be easier than others and most owners do not have all the answers. Starting a business is one of the mo

How would you feel if you heard that 95 percent of people will need employee retraining? At first I was quite skeptical of that claim, but the truth is that the future workplace could look very different than what we have now.To me, the claim sounded like an exaggeration. But the last two months have made me understand that this could, in fact, be true. The reason is that the way that we're working has changed. A lot of people are waiting for the world to bounce back to normal. But the reality is that normal probably isn’t going to come rushing back anytime soon.So, we’re going to have to adapt and pivot.I have a lot of clients that didn't want to do virtual meetings for the longest time. They were accustomed to the personal interactions, and I don’t blame them.But the future workplace will be different and employee retraining is going to be a necessary part of that transition. My own switch to a completely online way of doing things meant that I had to teach myself new things.When I first started c

Business changes are not always good. That’s why it’s important to know when to pivot your business and when not to.You see, “pivot” is probably one of the most overused, overrated words of 2020. When the pandemic hit, everyone said “you've got to pivot.” The problem is, I saw too many businesses become unfocused because they were just changing out of pure panic. When you've got no data, how do you know what you're pivoting to? Of course, some businesses had no choice but to pivot for survival. But it's important to think about the long term consequences that may occur when you pivot your business. Any business changes that you make now are going to affect the trajectory of your business.I recently did some work with a company, and their board had told them to diversify. I asked them what their market share was. When they told me they had under 5 percent of the market share, I was floored. When you have only 5 percent of the market share, it shows that people out there don't know abou

Today I want to draw parallels between Maslow's hierarchy of needs and a business hierarchy of needs. How does Maslow's pyramid apply to your business?Well, as I'm sure you remember from school, Maslow's hierarchy of needs outlines the five different tiers of needs we have as human beings. At the bottom we have physiological needs, above which we have safety needs, then psychological needs, then esteem needs and at the very top of the pyramid are self-actualization needs.What's interesting amidst all the turmoil and hurt right now is that a lot of businesses have completely lost focus of where their customers are. They're seemingly oblivious to the fact that business needs and priorities have changed.It's all well and good putting out marketing or promotional material that's aspirational and targeting self-esteem needs ("you can be what you want to be", "you can do what you want to do"), but right now are lot of people and businesses are in turmoil.

For help with your cash flow, check out the FREE webinar: https://event.webinarjam.com/register...Join the community at: www.boolkah.com/academyIf you enjoy this video, PLEASE SUBSCRIBEIn this video, I want to talk to you about employment probation. Specifically, are we using these probationary periods to compensate for a bad employee recruitment process? When I started working, we had a three-week probationary period. I wasn't hired on core values; they just hired me and gave me a trial period. It was very hit and miss. It was all about getting people through the door and trying them out. In the 1980's this approach was common because there were plenty of people to hire. What people didn't consider was the financial impact on the business. It was just an accepted part of the process back then. The reality is that this kind of employment probation is no longer a viable option. In the last thirty years it's amazing how our understanding has developed. Part of the employee recruitment proces

⭐ For help with your cash flow, check out the FREE webinar: https://event.webinarjam.com/register/1/7v4gqb7⭐ Join our community at: http://www.boolkah.com/academyAs a business owner, learning how to deal with indecision is crucial, especially during times of crisis and change. It’s your responsibility to make business decisions even if the future is uncertain. Failing to do anything is often the worst thing you can do.During April and May of 2020, we started to see lockdowns happen. We had mixed information coming in, and the government (at least in the UK) was not adequately addressing the problem. During the lockdowns, the world came to a standstill. Business owners panicked.Now, there's naturally going to be a period of indecision when something like this occurs. Many businesses watched things unfold before acting. Many people started hoping for a bounce back. Then, the three-week lockdown became three months. Finally, restrictions were lifted and things opened up, albeit in a different manner.The rea