Money Mastery

As a business coach, Bruce Doyle coaches business owners from chaos to control, with the ultimate objective of creating a commercial, profitable enterprise that works without them. To do this it generally requires a lot of hard work, the ability to initiate and sustain change, and an attitude and desire to create a business which will help them to reach their goals and dreams that they had when they first started in business.
When Bruce and his team first starts working with a new client, invariably the business is in complete disarray, and the initial steps in getting control is through what he terms as the Mastery level.
Common complaints from the business owner are that he or she never has enough time to do all the things they need to do (and know they should be doing). They don't know where they are making money and where they are losing it, or in many cases whether they are breaking even or not. They do not have any consistency in the delivery of their product or service, as they have no systems and procedures in place. So the starting point is to coach them through Mastery of Money, Time and Delivery.
What is Money Mastery?

When it comes to money, it never ceases to amaze Bruce how many business owners don't even know the basics. They don't know their turnover, (let alone break-even), they don't set themselves any sales targets or budgets, there are no cash flow figures, and they have know idea about how many leads they get (and from where), their conversion rates, or their profit margins.

As Bruce says "unless you know where you are in the first place, it is very difficult to set specific strategies to make positive changes. Therefore getting mastery of all the key financial areas of the business is essential, and once the business owner understands these aspects it makes it so much easier to start working on the business".

Very often business owners are reluctant to admit to not knowing their figures, but once they realise that it seems to be the same for most businesses they are much more willing to start learning. "As with everything" Bruce says "people are much happier to be in denial about something they don't really understand, than to confront it. However once they realise how important it is, and what it can do for them and their business, with help from their coach, they can quickly benefit from the basics of money mastery".
Of course none of these things can be done with the flick of the switch, and it takes considerable determination and persistence to make these changes. This is where weekly coaching with clients is essential.

In addition Bruce encourages clients to recruit a good bookkeeper to get the financials under control. It is false economy to try and do it yourself when you have neither the time or the skills. "It is great to see the gradual change in the business, and more importantly the success and pleasure it brings to my clients", says Bruce.

So ask yourself, do you have control of your business? Does it own me or do I run it? If you're no longer enjoying your business, or you are working long hours with little return perhaps it's time to make a change.

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