Rosia Bay Ltd

Some say it costs businesses five times as much to grab a new customer than it does to retain one they already have. There is much truth in this, and yet many businesses focus more readily on trying to sell goods or services to new customers. No doubt you are aware of a few major companies that consistently offer great deals to new customers, while all but ignoring their existing ones. And they wonder why some people vote on that with their feet, seeking out a great deal with the competition instead of staying put. Now, think about your business. Are you guilty of doing what so many larger companies do, and ignoring the people who have already entrusted you with their business? If so, it’s not too late to do something about it. Here are some pointers to help you make the most of every customer you have. Staying in contact Never break contact with existing customers. Maintaining contact is easier than ever now, thankfully, because we have email lists we can use. S...

Diversification is about building new products, exploring new markets, and taking new risks. It can present significant opportunity to enable companies to continue to grow. For example, it can pay to broaden your company’s horizons and pursue new opportunities – no matter how confident you may be in your existing offerings. The cost of ignoring this can be severe especially for sectors where technology is driving change e.g. the demise of Thomas Cook. How can past events help us to understand if this may present an opportunity for growth? Essentially, diversification can be highly lucrative but also can be incredibly risky as can be seen by the following examples of Virgin and Tesco. To understand the way in which Richard Branson has built the Virgin empire goes at the heart of understanding diversification – and its successes and failures. Consider a thriving music industry mogul that suddenly wants to diversify into the airline business. From this base he has dabbled with forays into...

Like other professional services, executive coaching requires planning and oversight in order to be effective. But all too often, companies leave it up to the coaches and their clients to manage the process. As a result, client companies, bosses and HR may not know how effective the coaching is, where assignments stand, when they are scheduled to conclude, and if the objectives of the coaching process are being met. Often coaching can continue for long periods of time or peter out with no substantive results for the effort. In order to enhance the long-term success of coaching and to maximize the investment in terms of time, money and resources, companies should follow a simple, four-step process. 1. Determine the need for coaching.  How many engagements begin because someone thinks "Louise needs a coach"? Hiring an executive coach without defining the reasons and the objectives is a certain path to failure. As the saying goes, if you don't know where you are...

For decades CEOs and other senior business leaders have recognised the value of executive coaching and used it to foster their success.  Although it’s now common for executives to have their own coaches, CIOs, CTOs, and other technology leaders have lagged far behind.  However, the tide has shifted in recent years, and we’re seeing that coaching can have even greater benefits for technology professionals. What Is Executive Coaching? In many ways executive coaching is analogous to athletics in that, as with elite athletes, the coach helps the executive reach peak performance.  In the case of executive coaching, the goals typically focus on bringing leadership skills to the next level and increasing business results, however, more and more of my clients are engaging in areas of stress and executive burnout, and how I can support them with those struggles.  Executive coaches usually meet with clients anywhere from once a week to once a month, depending on the goals and...

A healthy economy requires small business growth and sustainability. When small businesses are healthy and prosperous, the community-at-large benefits and prospers, too.  Small Business Is The Backbone Of The Community There are 5.7 million small businesses in the UK (2017). These businesses employ 60% of the workforce and account for 51% of transactions throughout the year. Together, small businesses pack a large punch that provides stability to the UK workforce. In addition to privately owned small businesses, franchised businesses have grown significantly in the past decades. Restaurants, petrol stations, coffee shops, and retail outlets across the country all provide franchise opportunities and employment.     Entrepreneurs Drive Small Businesses We are an entrepreneurial country. The spirit of entrepreneurship is deeply ingrained in our culture, and small business owners are the men and women who take their ideas and bring them to life. ...

Given the enormous changes occurring in the UK & USA and the challenges that lie ahead, there is a great sense of urgency to identify and develop executive leaders who can effectively position their organisations for success.  One of the most impactful leadership development strategies for building a leader’s competitive edge is coaching. Executive coaching can significantly impact individual growth and organisational success by focusing on the development of specific leadership competencies required for success.  In addition to strengthening executive skills, coaching is particularly impactful for  leaders who, in addition to their duties, are now being tapped to lead others, lead change, and lead for results. These new competency requirements are best fostered through targeted individual leadership development via coaching conducted in tandem with other developmental strategies. When Is Coaching Best Applied? To retain valuable leaders.  Dissatis...