Do you have an exit plan?

What is it you desire most?



The most popular answer I hear when I ask this question is FREEDOM!

Freedom to do what they want, when they want. And not to have to worry about work, or money in order to be able to do whatever it is they want to do.

So why is it, so few have ever really planned for what that might look like!

Sure, we all have a vague notion of “life after work” or “retirement” but how much time, effort, and consideration have you put into determining exactly what that will look like, and when you wish to achieve that?

One of the ‘4 Killer Questions’ I ask every client is:

“One what date are you going to successfully sell your current business? and be able to retire?”

Now, to be clear; I’ve not SAID retire, I’ve simply asked BE ABLE TO retire?

In response, I often hear people frantically working out in which year they are going to turn 65. And then shaving a few years off, to ‘reward’ themselves for having owned their own business! So they are somewhat taken aback when I ask “And what would you do in the interim if you were able to achieve that in the next 5 years?”

You see, once you have achieved your ENOUGH? number, and have the ABILITY to retire – Everything changes.

Working because you WANT to, not because you HAVE to
Doing WHAT you want, not what OTHERS want of you
Being, doing, having, all becomes possible

And all of that is possible in a far shorter timeframe than you may first think possible – Through the application of a different mindset and beliefs!

I’m a firm subscriber to the concept:

Your future shall ultimately be determined, by the quality of questions, you learn to ask, of yourself.

Therefore, if you want a better future, it starts by learning to ask better questions.

Our ethical business mastermind groups, are specifically designed and managed to ensure bigger, bolder, brighter, more challenging questions are asked AND ANSWERED, not only to change but transform you and your business, the perception of what is possible and the means to achieve it.

In today’s video, I’ll pose the 4 most DIFFICULT questions you are ever likely to have to answer! But in doing so, will fundamentally change the way you think about, work and operate within your business!

I’d love to hear your thoughts CLICK TO REPLY

13 reasons you NEED a coach

13 reasons your business is suffering (if you don’t already have a coach)

Whether you’ve ‘bitten the bullet’ and quit, been made redundant, inherited or otherwise. You’ve made the shift from employee to the business owner. Congratulations, you’ve just joined the ranks of individuals who will become successful entrepreneurs — or failed ones.

Naturally, once you’ve established your start-up company, the question becomes:

How can you maintain an amazing organization as a new entrepreneur?”

Being an experienced professional in one’s field is one thing; being a professional and successful business owner is another.

We’ve spent over 7 years surveying over 117K Businesses to identify the most common risks (and how to avoid them) along with the hidden opportunities so many miss sight of.

Business owners often believe they know everything and no longer need anyone to look after them. At the same time, as their businesses get larger and more prosperous, successful entrepreneurs seek new guidance and more accountability. That’s fantastic if your start-up is performing well. Be mindful, however, that new accomplishments will bring new challenges.

In any event, a decline always sets in beyond a certain point. It is impossible to reach the top without help from others. The situation occurs all the time. Simply think of it as a phase in a start-up’s life.

Entrepreneurs face a range of issues that require a variety of answers. If you lack a clear goal and plan, you will be distracted and challenged at every turn. The most important thing you can do for yourself as an entrepreneur is to connect with others, either through a peer-to-peer support group, or better still a coaching/mentoring program. A coach/mentor can help you expand quickly and support you to oversee your business’s growth.

Why do you need a coach?

The best athletes in the world, the top performers, actors, musicians, and political leaders all hire coaches to help them succeed, so why wouldn’t you? Adter all, it’s the only way to discover what you’re capable of is to be pushed out of your comfort zone.

Here’s why you should consider hiring a business coach to do just that.

1. Accountability

As the business owner, who holds YOU accountable? Who determines the speed and direction of travel, and ensures ALL the decisions, time, energy and investment made, is directly impacting the goals and aspirations you desire?

We can ALL suffer from SOS (Shiny Object Syndrome) and so without an accountability partner, you are already being drawn off course, and away from achieving ALL you are capable of!

A business coach will enable you to see your potential so you can leverage your talents and abilities, but they will also hold you accountable. We all do better when we must answer to someone for our actions. If you start to get side-tracked, a good coach will make sure you follow through on what you said you would do. They will motivate you while also keeping you accountable and tracking your progress.

I often refer to this as Shiny Object Syndrome (SOS) Those great ideas or opportunities that we all face, often take us just one degree off course, but prevent us from ever achieving what we first set out to achieve!
Through our commitments section within the #ADDAZERO Methodology, we agree on what you will and won’t be doing and held to account for the agreed actions you and I shall be taking to activate and accelerate the growth of both you and your business.

2. Attainable/Stretch Goals

Whether you are ready to admit it or not, the majority of business owners ‘play it safe’. You might ‘think’ you’ve set some pretty ambitious goals? But, the fact that only 1% of Start-up businesses ever SMASH their original goals, shows that the mass majority fail to achieve their (or the businesses) FULL potential.

Your coach will help you visualize and reach your goals, working with you step by step to define what you want and how to achieve it. I don’t subscribe to SMART objectives (and neither should you as an entrepreneur), instead, we agree on a set of BFHAG DUMB goals, and set about to achieve those instead. Whether it’s evaluating your schedule, prioritizing your tasks or helping you to manage your time more efficiently, we will work together to make sure you get more of your goals accomplished in both business and life.

The Vision/Values and Goal setting element of the #ADDAZERO Methodology identifies exactly what you want to achieve in life, so that you can both live and leave a legacy, then ensures both you and your business are aligned with being able to achieve this, quickly and efficiently.

3. Organization

How much time do you spend PLANNING in your business? How much time do you spend IMPLEMENTING? and how much time do you WASTE? As a business owner, it’s easy to get overwhelmed by your day-to-day tasks. It’s so typical of owners to fall into the trap of BUSYness, at the expense of growing an effective Business!

As a business owner, it’s easy to get overwhelmed by your day-to-day tasks. With a business coach, you’ll get the structure and organization necessary to run your business like a well-oiled machine. We help you implement and maintain systems and structures for success. We shall provide you with effective time-management plans, as well as tips and strategies to enhance your performance based on your work style and personality.

By determining what you want to achieve, and the parameters you wish to work within, we can review the model, structure and strategies employed to ensure you and the business are working as efficiently as possible, in pursuit of your goals.

4. Business plan

Our research, (into more than 177K businesses and what causes them to fail) showed the NUMBER ONE reason a business fails, is the lack of an up-to-date, shared and followed business plan!

No matter where you’re at in your business, a skilled coach will guide you on how to craft the perfect business plan and help you implement and maintain systems for success. From clear and specific objectives to strategic action steps, you’ll learn the essential elements of a successful business plan.

Trust me, a Business plan is not just for funding. It’s the roadmap on which successful entrepreneurs use to map their journey to success. It becomes a living document to which all major decisions are made, and enables us to map the journey to which we shall take to #ADDAZERO.

5. Marketing ideas

If you always do, what you’ve always done? Then you’ll always have (at best) what you have already!

So many people get marketing WRONG. They either do the same as everyone else and hope for a different result or do the right things in the wrong order and then wonder why it has little to no effect?

Whether you don’t have the time to develop a marketing plan or you’re not sure how to produce a valuable one, a business coach will help create a personalized, easy-to-implement marketing strategy. You’ll learn how to attract new leads, and convert more into a profitable business while adding value to your current client relationships.

Having a better understanding of your ideal target client audience, and how to attract them is key to maximising efficiencies across the business. And our 17-step Marketing Management has been specifically devised with this in mind.

6. Unbiased insight

It was Donald Rumsfeld that is recorded as having said

We don’t know, WHAT we don’t know

and how right he was.

As the business owner, you are intrinsically linked to the business. It’s yours, you know it inside out, and you are passionate and committed to its success.

Yet when did you stop to learn as much as you know about what it is you do, about Marketing, Sales, Finance, Infrastructure, Systems, Processes, Automation, People, Recruitment, Retention, Remuneration, Pricing, Packaging and everything else that running a successful growing business demands?

With a business coach, you get unbiased, constructive feedback. Your co-workers, friends or family members (whether you like it or not) are biased in their opinions. In contrast, when you hire a business coach, they will be able to offer you insights that other people in your circle may not be able to. They can often uncover solutions that those close to you or your business may overlook.

“You don’t know, what you don’t know” and yet it is often that which is the greatest hurdle to making the biggest progress both you and the business are capable of. Your business coach/mentor has the ability to determine how best to overcome/address this and works with you to support you in both personal and professional development.

7. Self-confidence

Whether it’s the fear of failure, the fear of success, the fear of getting it wrong, or simply the fear of the unknown? At some stage in your business’s growth journey, you’re going to stop, because the fear holds you back! When you’re working toward your goals, it can feel like you’re not where you want to be.

A business coach will be there to help you see how far you’ve come and what you’ve achieved. They’ll provide support and encouragement, so you’ll eventually learn to lead with confidence and overcome challenges. They will also remind you to celebrate your wins.

Whether it’s a fear of failure, fear of success, or fear of the unknown, we all face uncertainty, and yet it is often this, that prevents us from making the big decisions that make the biggest difference to both us and the capabilities of the business. We’ll work together to review what causes these limiting beliefs and how to overcome them. (Our 18 ways to become unstoppable, is a great way to review and address this).

8. Fresh perspective

It was Einstein who suggested the definition of Insanity, is doing the same thing, again and again, and again, still hoping for a different outcome! And yet, so many business owners are still doing what they did last year, the year before, and the year before that, still hoping that “This time next year Rodney, we’ll be millionaires”

When you’re too in the weeds of your business, it can be easy to overlook the obvious. The fresh perspective of a business coach can help you identify problems and solutions that you would have never thought of. They will increase your self-awareness and point out your blind spots, so you can perform at your best.

The benefits of a coach that has both a breadth and depth of knowledge come into their own here. Coaching (done well) is one of the most treasured positions, whereby we get to support you in a way no other can. By bringing knowledge, experience and perspective gleaned from years within both our own businesses and that supporting countless others. We can bring consideration that no other will have the ability to do so.

9. Growth

Too many business owners get to a certain level of Turnover, or a certain level of personal income, and then take their foot off the gas!

They somehow think, that to grow a business more, determines MORE hours, MORE effort, MORE risk and have become so comfortable with where they are, that the thought of doing any MORE is the last thing they want to do!

Perhaps your income has remained the same year after year, or maybe you haven’t increased the quantity or quality of your leads. If you’ve hit a plateau, a coach/mentor can take your business to the next level by assisting you in creating a strategic, business-boosting plan. They will help you sort and qualify your database so that you can clearly determine how best to generate the kinds of leads that result in substantial growth.

Our #ADDAZERO methodology has not only been implemented successfully in thousands of other businesses but has also been recognised nationally and internationally with awards for its impact on businesses. It’s also seen no less than EIGHT of our clients as National Entrepreneur of the Year finalists, and countless others winning both regional and industry awards for growth.

But beyond this, it’s enabled them to buy their ‘forever’ dream home, take extensive exotic holidays with their family, and fall back in love with their business because of the reward it now provides for their continued efforts.

10. Balance

Surely, the whole point of growing your own business, is that it provides handsomely for you, your family, and your employees. Whilst providing a great quality of life, and the freedom to do more of what you want, where you want, when and with who you want?

Then why is it, so many business owners admit to “working harder than they ever have done before”

The right business coach will teach you how to balance your professional and personal life. As a business owner, you can often fall into the habit of devoting all your time and energy to work. Your coach/mentor will encourage you to take a break to indulge in an activity you enjoy or spend time with loved ones. When your mind is sharp and your attitude is positive, your business will thrive.

After all, it’s all about you and your achievements, and what the word success means to you. We support you to both set new heights and achieve them. Whilst creating a legacy for others to follow, that as you exit there is a continued succession plan, that others strive to follow, creating a sustainable business, that provides for both you, and your employees long after your last working day.

With the right business coach/mentor. you gain a trusted advisor who will guide you on your path to success. They will put things in perspective and provide you with invaluable ideas and strategies. Whether you’re just starting out or looking to scale your business, investing in a coach is one of the best ROI decisions you can ever make.

How to identify the right coach/mentor

You have now recognized the value of hiring the right coach to help you with your business. Now let’s see how to pick the right one:

1.     Employ a coach who has been where you want to go

Whilst there are numerous people who can read from a crib sheet and advise you on the theory of what is possible. You might consider finding someone who has experience in owning, growing and running a successful business, as your mentor or coach. As an entrepreneur, you ought to be mentored by someone with an established track record, of knowing how to apply the theory in practical terms that get real results.

You can bet there are hundreds of so-called business professionals operating “scam” geniuses. With some copywriting magic, anyone can convince you that he or she knows what he or she is talking about. But that doesn’t mean that person actually does or has any real experience of implementing those decisions and working through the impact they have.

How can you determine whether a coach is real? You should first do your research and make sure the person has a track record of success. Do they have any case studies or testimonials on the website, is there the option to speak with/meet existing customers? Can you ‘sample’ their coaching before signing up for an extended programme?

2.     Meet other entrepreneurs who are dealing with similar issues

Entrepreneurship can make you feel as if you’re stranded on an island, cut off from the rest of the world and with no one to turn to for support.

For that reason, enrolling in a coaching program alongside others can offer significant advantages; beyond the directly obvious.  These programs bring together entrepreneurs from other companies to deal with similar challenges and can help you figure out which mentors or programs are worth your money and time.

3.     Make connections with successful business owners

When you join a coaching program or hire a coach/mentor, you also want to network with other entrepreneurs. Not only will these connections potentially help you identify the best direction to take your business to the next level, but your network is an invaluable tool in its own right.

Your network determines your net worth. Whether you like it or not, the people you spend the most time with will impact you the most. By spending time with successful small-business owners, both your learning and earnings are likely to increase.

Today’s top entrepreneurs spend tens (if not hundreds) of thousands of pounds on coaching, even when their businesses are doing well, because coaching/mentoring helps people accelerate both themselves and their businesses, beyond the realistic and possible, to new heights otherwise unreachable alone. It gives you the confidence and competence to do new things, and bot the support network and accountability required to exceed individual capability.

So, now you know both why and how to select the right Business Coach: are you ready to #ADDAZERO?

Jay Allen is the Chief ScaleUp Sherpa within My TrueNORTH, The Ethical Coaching Company, and Founder of the #ADDAZERO Business Challenge.

Having spent more than 7 years researching the cause of Big Business Failure, to really understand the FLAWS within so many businesses, that prevent them from ever achieving all they are capable of. We’ve made it our mission to support 1,000,000 Business Owners to #ADDAZERO to their Personal Disposable Income. Growing their businesses sufficiently to create at least 3 new roles per business, and collectively eradicating unemployment in the UK, by creating more new roles than there are those actively seeking employment.

7 Steps to launching a new…

Launching a new product is no small undertaking. Whether you’ll be selling SaaS, enterprise software or a physical product, it’s critical to lock down a strategy to ensure you can effectively build buzz, reach targets and hit your sales numbers.

Every company is different. Every market is different. But every successful product launch example has one thing in common:

The business had an effective strategy and stuck to it.

Here are the seven product launch steps you need to know and love before your creation can hit big time.

Launch Step 1: Go or No-Go?

A common mistake companies make is skipping the research that should be done when deciding whether or not to even introduce a product to the market. Ask yourself some questions:

  1. Is there a need in the marketplace for my product?
  2. Is it a unique offering, or are there others that are already being marketed and sold?
  3. What are my differentiators and unique selling points?
  4. If there are competitors, are there sufficient additional features and benefits to separate your product from the others?
  5. What about pricing? What is the expected ROI?

Talking to your customers and industry colleagues can also help you to evaluate the value and market potential of your product. If things don’t look quite as rosy as you thought they would, don’t be afraid to pull the ripcord and focus on initiatives other than your product launch checklist. If it can’t be a hit, focus your R&D team elsewhere and look at other ways you can utilize and monetize your innovation, IP and work.

Launch Step 2: Pick the Right Team

Choosing the right development team is critical in launching a new product successfully. Obviously, having the technical muscle on the team is important. Equally essential is representation from the company leadership team, project managers, product users, marketing, public relations, sales and QA.

Why involve every department?

Because launch success depends on buy-in and collaboration.

Company leadership must communicate the value and importance of the project and create accountability for meeting deadlines and milestones. Project managers and product users will be able to provide valuable information and feedback on workflow. Marketing will help develop the launch timelines and will gain a deep understanding of the product’s features and benefits that will translate into the marketing campaign. Sales will be able to provide insight into pricing, customer requirements and product features, and will gain the intimate working knowledge of the product needed to effectively communicate with prospects.

Launch Step 3: Timing Is Everything

Set milestones and establish a firm production schedule and new product launch process.

Creating accountability by adhering to a schedule helps keep your costs in check and allows the marketing team to build a marketing campaign based on the product launch date. Really think about the timing. When you launch a product can heavily influence the success of the release. Timing a launch around a trade show or other event can help to generate buzz and can serve as a terrific jump-start for the marketing campaign. Making sure key team members are available during the launch is absolutely crucial for troubleshooting unexpected system glitches and hiccoughs.

Launch Step 4: Show and Tell (and Ask!)

When you’re launching a new product, it’s critical to keep key internal project managers and users in the loop, asking for feedback along the way. Asking a few trusted clients to test your product will give you incredibly valuable insight and will tell you a lot about your product. You’ll get feedback on the product appearance, usability and performance that is better learned before launch than after.

Launch Step 5: Prove it

Beta test. Validate. Load test. Ensure security. Bringing an untested product to market is a bad idea. It’s asking for system failures and bound to cause user frustration. Ensuring that each feature of the system works and that it can handle the number of users anticipated will go a long way toward launching a product that works the way it is intended to and meets user expectations. You only have one chance to make a first impression. Be sure to make it positive.

Launch Step 6: Plan Your Campaign

Building an effective marketing strategy around launching a new product involves a lot of planning and effort. The first step in building that strategy is setting the launch date because that date affects the timing of the rest of the campaign. Branding development, product positioning, public relations, digital marketing, social media, trade show attendance need to be decided upon well in advance of launch.

Launch Step 7: Communicate, Communicate, Communicate

It’s launch day! Great! But … is your staff on board?

Properly preparing the entire team for the new product launch means more than sending out an email the day before the release. Support and sales need to know the product inside and out, and all customer-facing staff need training and should be able to answer basic user questions. Anyone talking with a client should be able to help them reset passwords or negotiate through basic functions. Taking these steps will give your staff confidence and empower them to help clients and effectively communicate with prospects.

I’m DELIGHTED to share, that after 7 years of research, engineering, testing, calibrating, and documenting. TODAY see’s the launch of:

#ADDAZERO: The Ultimate Guide to Sustainable SCALE

Just one of the many positive quotes I received from our BETA test Proofreading group regarding this book was:

For ANY entrepreneur serious about growing their business, this book will become their business bible

It’s by no means a lazy Sunday afternoon, curl up on the couch type of book.  It’s an educational reference book, helping you to steer your business towards SUCCESS SUMMIT.

You can order either the paperback or Kindle version by clicking here.

(The AUDIOBOOK is due for release within the next 2 weeks also)

Have you reviewed your current offering(s)?

How effective are they at meeting and surpassing your client’s/Customers needs/expectations?

Do they go ‘elsewhere’ to purchase things you could provide?

What could you launch?

The only constant in life, is change

You may also like to read:

The cost of doing nothing

Everything you need to know to boost Customer Retention

2021, Have you got what it takes?

And, you may enjoy listening to episode 14 of our #ADDAZERO podcast

Are YOU ready to #ADDAZERO?

Today, shortly after 3.20pm (Local) I received an important package from Amazon!

Inside the cardboard box, was a gift-wrapped bag, with a label that read:

Congratulations Jay, you did it.

The Universe!

On further examination, I was able to discover the first printed copy of my new book:

And I can’t BEGIN to tell you how exciting that feels!

This journey started in late 2008, with the sudden collapse of Woolworths.

We began researching in 2012, and by 2016 had a team of 9 data analysts working on the cause of more than 150 Big Business Failures.

Then 18 months engineering a series of ‘Questions’ task of ANY business (New or old, modern or traditional, product or service) to determine if the business leader implements THESE suggestions will it reduce/remove the risk of failure?

A further year of BETA testing, then analysing the results, before 15 months spent correlating all the data and writing it all up.

Today marks a new #milestone of achievement on our quest to support 1,000,000 Business Owners #ADDAZERO to their Personal Disposable Income!

Not turnover, or any other vanity matrix, but CASH in THEIR HANDS to transform them, their families, their business and their community.

Why 1,000,000?

Well, at the time we first launch BETA testing, there were approx 6M SME businesses in the UK.

I remember, years and years earlier when the Federation of Small Businesses had run a national marketing campaign entitled “Just get ONE”. The idea was for every member to introduce one new member to the association, thus doubling their membership in one year.

I’d already seen (through our BETA test group) that during the course of applying the #ADDAZERO methodology to their business, and the subsequent SCALE it enabled them to achieve. There was a growing need to take on more staff. (On page 253 I share the formula to follow for your first NINE hires!)

At that time, there were approximately 960K unemployed people in the UK seeking work.  So I determined,

If we could support 1,000,000 Business owners to significantly and sustainably SCALE both them and their businesses

Not only would that enable them to #ADDAZERO to their personal disposable income

But it would also generate in excess of 1,000,000 new vacancies!

And collectively, we could eradicate unemployment in the UK!

Offering employment to EVERY person that was seeking work!

17 global problems

What are you doing today, for a greater tomorrow?

You can learn more, and order your copy here

Have you had enough?

Last week, I was gifted a book to read by a friend in Wealth Management, called ENOUGH: What’s YOUR number?
It shares many examples as to how so many people are working hard, putting money away for when they retire, with little to no idea as to how much they actually need TO retire!

The idea was that everyone has a “number” that defines how much they need to retire. While it’s absolutely true that you need to set clear retirement savings goals for yourself, it’s also true that you have a “number” right now that perhaps you don’t even know?

That’s right, in this stage of your life, you have an “enough” number. That number defines the total income you need in order to meet your needs, reach your goals, and enjoy life.

It’s key to define what your “enough” number is, as quickly as possible and how that goal aligns with your personal and professional priorities. When you have financial goals that are actually tied to your lifestyle goals, you’ll be able to start working with your “why” in mind.

Defining “Enough

Too often, people fall into the trap of setting arbitrary income goals for themselves. While it may sound amazing to have a six-figure salary or to run a multi-million-pound business, you have to ask yourself whether those numbers will actually move you toward the life you want to build.

Sometimes, the arbitrary financial goals you set for yourself are coming from a place of vanity. For example, a seven-figure business may sound better to you than a business that grosses £300,000-400,000 each year, but do you actually need that much revenue to support yourself and your team? It’s only when you have absolute clarity on both your and the business goals, that you can ensure they are aligned and are working effectively to achieve them. And not at risk of achieving one, at the detriment of the other!

It may feel good once you are able to generate a 6 figure salary, but will that income be enough to move you toward your goals? You may find your “enough” number is actually more or less depending on your unique vision for your life.

In order to calculate your “enough” number, start by reflecting on your goals and priorities both during this season of life and in your future. Prior to setting these priorities, it can be helpful to do a values check-in. Jot down the 4-6 core values you live your life by. Not sure where to start? Take five minutes to run through a free program like the Life Values Inventory to determine what you and your business value most.

You might also wish to read: Why Values are key to success and Our Values

With those values in mind, you can start to clarify your priorities and set clear financial goals that support them. Looking at the values list above, you may find that your priorities are:

  • Having a job that allows you to spend more time with your family.
  • Having the flexibility to travel both now and in the future.
  • Earning enough income to successfully send your kids to college debt-free, and to go back to school yourself.
  • Being able to donate to charity, or support family members in need, as part of your annual financial plan.

Once you prioritise your goals, you know what “enough” looks like, and you can work backwards to determine your “enough” number.

Determining Your “Enough” Number

Wondering how to create a clear income goal based on your priorities? Start by adding monetary values to the priorities you’ve already set. Carrying on our example, you might say:

  • Having the flexibility to travel both now and in the future. £16,000/year for your whole family now through retirement.
  • Earning enough income to successfully send your kids to university debt-free. Circa £70,190 for each of your kids in the next 5-15 years (depending on when they graduate)
  • Being able to donate to charity, or support family members in need, as part of your annual financial plan. £6,000 per year dedicated to charitable donations. 

Then, add those figures to your other financial goals (like retirement savings or debt repayment), and current living expenses. Your equation should look like this:

(Annual Priorities Costs) + (Annual Living Expenses) + (Annual Emergency/Retirement Savings + Debt Obligations) = Your “Enough” Number

How Does Your “Enough” Impact Retirement Savings?

Are some of your priorities going to impact the amount you spend in retirement? If you want to travel the world during retirement or continue to donate to charity as a retiree, you may need to add these expenses to your savings goals. Remember to add them to your total retirement cash flow needs, and plan accordingly. You may find that you need to save an extra amount each month or set a lump-sum of money aside to achieve your goals as a retiree.

Having trouble figuring out what your ideal retirement savings are? A good rule of thumb is to estimate that you’ll spend 80% of your current income during retirement. Ideally, you’ll have paid off your mortgage and other debt to free up additional cash flow.

What If “Enough” Doesn’t Feel Achievable?

Does your “enough” number feel like an unachievable goal? It’s time to assess what roadblocks are holding you back from your dream life. A few questions to ask are:

  • What would my business need to look like, do, generate, for me to receive the income I deserve?
  • What do I need to change in my business for me to reach those goals?
  • Do I need additional education or training?

Making a Plan

Once you know what your “enough” number is, you’re able to create a plan with confidence for how you can achieve that income. If you’re uncertain about how to reach that goal, reach out to a financial planner. Together with your advisor, you’ll be able to discuss your current priorities, how they translate into financial goals, and what you need to do financially to move the needle.

And whilst they are working on your “enough” number, we can get to work reviewing and revising your business plan to SMASH IT!

Enjoyed this post?

You might also like:

The cost of doing nothing

What is your BFHAG?

ADDAZERO Business Audit

Survive to Thrive

Have you got what it takes this winter to survive and thrive?

Yes, it’s not quite April, and I’m talking about winter, but not in the traditional sense! It may be the first days of spring, and with news of lockdown restrictions slowly being lifted, and the continued roll-out of the COVID-19 Vaccine, much anticipation of a more positive summer than 2020? And whilst I do not wish to be the bearer of bad news; we are on the very cusp of an exceptionally bleak economic winter, that if you are not preparing for, could prove to be exceptionally difficult to survive!

The Office for Budget Responsibility (OBR) – which keeps tabs on government spending – said that UK borrowing would be £355bn for the current financial year (April 2020 to April 2021), before falling back to £234bn over the next year.

That’s the highest figure ever seen outside wartime.

Now before we go any further, what does this even look like?

To demonstrate, I want you to consider it in seconds.

What long are a million seconds?




About 11 days.

How about a billion seconds?




about 31.5 YEARS!

So when we talk about BORROWING £355Bn.  In seconds, that’s the equivalent of 11,182 THOUSAND YEARS! And although we borrowed it at a very reasonable interest rate, that’s still FAR more than we could ever consider in our lifetime to payback!

The tide is turning

So although the news is becoming less doom and gloom right now, with stories of ‘opening back up’ and ‘vaccine completion percentage the fact is, there is a colossal debt we (as a country) have incurred to get through 2020, and the economy (the world over) is being propped up with borrowing and quantitive easing! In the USA, COVID is expected to have cost $16Trillion (that’s the seconds equivalent of over Half a Million years ago).

The fact is, this virus has cost the earth more than we can ever expect to repay, both in terms of lives and financially.  The amount of money that has been poured into ‘propping up’ economies around the world, is the highest since the second world war (A debt, we only finished paying back in 2018!)

For the first time ever, it has been government policy to close entire sectors of the economy down in order to save lives. Industries, the employers that form them, and the employees that work in them have all had to put actions once regarded as routine on hold for the best part of a year. A collapse in confidence and demand has led to capital expenditure falling off a cliff, with people preferring to sit on their cash rather than invest in an economy that has suffered the biggest decline in its fortunes in over 300 years – a contraction of 9.9%.

Added to this, the extent of the health emergency has fluctuated constantly, with a lull in cases over the summer of 2020 before the 2nd wave of infections hit society over the winter months – leading to an even longer period of closure.

However, from the moment a vaccine was announced in November, the seeds were planted for a route out of the pandemic. Since then we’ve seen this clarity translate into confidence. Capital is returning, and recruiters are seeing an upsurge in vacant positions with their clients. Activity that would usually occur over 12 months is being squeezed into companies’ post lockdown plans in the second quarter of 2021.

Lockdown blues

At all levels, consumers and employers are looking to make up for lost time. The UK economy is projected to grow at its fastest rate since 1948 as government stimulus combines with the release of investments and a consumer spending boom. Society has become frustrated by lockdown after lockdown, and this is likely to a far more care-free attitude to activity in 2021. Almost a return to Bryan Adams ‘Summer of ’69’.

The anxiety of 2020 that people have become accustomed to will translate into determination in the second half of this year in particular. When the health situation finally returns to some form of normality, activity will rise exponentially. After a lockdown-enforced lull in Spring 2020, the market grew rapidly at the end of the year as people used the pandemic to reflect on their housing priorities. We might expect to see similar growth in the leisure and hospitality sectors, as once again people appreciate the opportunity to socialise with their family and friends once again.

2020 Reflection

One of the most important and quite unique elements of 2020, is also one of the least spoken about. After year after year of doing the same thing and having very little time to assess.  2020 gave us all time to reflect. Pre-pandemic, working life was like a treadmill, trying to keep things going on a day to day basis not knowing whether our potential was truly being maximised.

The pandemic has brought about new, innovative ways of working that put many businesses in a healthy position to recover quickly from the crisis. I have seen countless business owners that have been forced to think outside the box in order to survive.

And whilst all of this paints a positive and encouraging picture for the next 2-3 quarters, it is set against a backdrop of such huge debts and the need to recoup losses.

I can’t help feel the news will turn quickly now to many positive stories of success and recovery, to lift peoples spirits ahead of what is yet to be realised!

Let me offer one final example if I may, that might make all of this far clearer:

When you first learn how to drive, your particularly nervous, there is a lot to take in, and you listen intently to your instructor who guides you as to where, when, how, why.  When we are taught to observe, use our mirrors, anticipate, we are often looking 1, 2 on occasion three cars ahead. And, eventually, we are deemed competent enough to pass our test.

Years later, and with many thousands of miles of experience, I was fortunate enough to partake and pass my Advanced Driver Licence, and subsequently my C1 Emergency driving test as a frontline Ambulance personnel.  and although you shall be driving a large and cumbersome vehicle, all your training is conducted by the Police Traffic Rapid Response Driver Training Team.  The speed of reaction, consideration, observation and anticipation is on another level and enables you to anticipate and respond far quicker than ever before.

At speeds well in excess of 100mph, determine you are looking far further ahead and responding instinctively almost subconsciously to anything that on your first driving test would be in your line of sight!

And it’s the same now.  I’m encouraging you to view the news and the positive stories ON the backdrop I’ve shared.  I’m inviting you to do well this summer, but be aware of the fact the economy is being bolstered to the sum of Billions of pounds right now.  When the tide turns (which it has to and shall) you ALSO need to be prepared and ready to survive the economic winter and come through the other side.

There are already those who are ‘taking stock’ building reserves, investing in opportunities now to diversify their risk, and preparing for the storm.  If you’d like to learn more as to how YOU can move from survive to thrive? and make them ost of ALL the seasons, click on the link to grab a call with one of our SCALE Sherpa’s.