The Pocket MBA E-Book

Jodi Cottle

• Herausgeber: John Wiley & Sons
• Kategorie: Fachliteratur
• Sprache: Englisch

Seitenzahl: 225

Veröffentlichungsjahr: 2023

Beschreibung

Set yourself up for business success with this pocket-sized playbook Packed with research, stories, and practical tools you can apply immediately, The Pocket MBA is an essential handbook for taking your business and your leadership to the next level. From mansplaining to motherhood, women face unique challenges when it comes to running a successful business. But whatever challenges you personally face, The Pocket MBA shares the insightful tips and strategies that will give you a head-start as a leader, manager, and owner. In four accessible parts, you'll uncover the key components for a rock-solid team and a booming business. Whether you're going it on your own or you're working with a franchise, you'll learn effective ways to: * Lead yourself: Learn how to align your leadership with your values, and how to ground and centre yourself so that you can respond more effectively to challenges. * Lead your team: Get tips for recruiting and coaching staff so you can forge a happy, motivated, high-performing team of employees (who want to stick with you!). * Lead your clients: Learn the framework that will keep your clients happy and returning again and again--generating more positive reviews and word-of-mouth. * Lead your business: Discover practical models and metrics for assessing your ideas and making those critical business decisions. Perfect for busy women in any industry, The Pocket MBA is a short and sweet playbook that will help you grow your business into a thriving, profitable enterprise.

Leseprobe

Table of Contents

COVER

TITLE PAGE

COPYRIGHT

DEDICATION

FOREWORD

ABOUT THE AUTHOR

INTRODUCTION

An express MBA …

… For women in business

My story

How this book is organised

PART I: LEADING YOURSELF

CHAPTER 1: Leadership mindset

Value alignment

Combating imposter syndrome

Controlling your environment

CHAPTER 2: VACAS leadership styles

Visionary leadership

Authentic leadership

Coaching leadership

Authoritative leadership

Servant leadership

VACAS inventory

CHAPTER 3: Understanding your brain for effective leadership

Hormones and neurotransmitters: Your brain's messengers

Triune versus Adaptive Brain theory

The remarkable prefrontal cortex

Fight/flight/freeze

CHAPTER 4: SCARE: An organisational neuroscience leadership model

Significance

Certainty

Autonomy

Relatedness

Equity

PART II: LEADING YOUR PEOPLE

CHAPTER 5: Recruiting staff and developing high performance

Focusing on culture

Developing your recruitment strategy

Interviewing

Onboarding

Using SCARE

CHAPTER 6: Development and coaching models

GROW model

Accountability/competency matrix

Succession planning

PART III: LEADING YOUR CUSTOMERS

CHAPTER 7: Setting your business apart

Differentiation strategies

Differentiation through customer experience

Additional strategies

CHAPTER 8: The Sustainable Competitive Advantage framework

SCA framework in theory

SCA framework in practice

PART IV: LEADING YOUR BUSINESS

CHAPTER 9: Strategic models for business and finance

Business models

Financial ratios

CONCLUSION

Keep in touch

REFERENCES AND FURTHER READING

CASE STUDY RESOURCE LIST

Janine Allis and Boost Juice

Natalie Brennan and Muffin Break

Z Energy

Strong Pilates

INDEX

END USER LICENSE AGREEMENT

List of Tables

Chapter 5

Table 5.1 A weighted decision matrix example

Chapter 7

Table 7.1 Summary of the pros and cons of differentiation strategies

Table 7.2 Identifying your ideal client

Table 7.3 Voice of Customer research options

Chapter 8

Table 8.1 The Sustainable Competitive Advantage framework

Chapter 9

Table 9.1 PESTEL analysis of the aesthetic industry

Table 9.2 SWOT analysis of specific franchise business in the aesthetic ind...

Table 9.3 Porter's Five Forces analysis of a specific franchise business in...

Table 9.4 Direct competitor analysis

Table 9.5 Key financial ratios and how to apply them

List of Illustrations

Chapter 4

Figure 4.1 Significance threat and reward activators

Figure 4.2 Certainty threat and reward activators

Figure 4.3 Autonomy threat and reward activators

Figure 4.4 Relatedness threat and reward activators

Figure 4.5 Equity threat and reward activators

Chapter 6

Figure 6.1 An accountability/competency matrix example

Chapter 8

Figure 8.1 The SCA framework in practice

Guide

Cover

Title Page

Copyright

Dedication

Foreword

About the Author

Introduction

Table of Contents

Begin Reading

Conclusion

References and Further Reading

Case Study Resource List

Index

End User License Agreement

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First published in 2023 by John Wiley & Sons Australia, Ltd

Level 4, 600 Bourke St, Melbourne Victoria 3000, Australia

© John Wiley & Sons Australia, Ltd 2023

The moral rights of the author have been asserted

ISBN: 978-1-394-19457-5

All rights reserved. Except as permitted under the Australian Copyright Act 1968 (for example, a fair dealing for the purposes of study, research, criticism or review), no part of this book may be reproduced, stored in a retrieval system, communicated or transmitted in any form or by any means without prior written permission. All inquiries should be made to the publisher at the address above.

Cover design by Wiley

Cover image © StockSmartStart/Shutterstock,© NadzeyaShanchuk/ShutterstockProductivity tip icon © Scott Dunlap/iStock

DisclaimerThe material in this publication is of the nature of general comment only, and does not represent professional advice. It is not intended to provide specific guidance for particular circumstances and it should not be relied on as the basis for any decision to take action or not take action on any matter which it covers. Readers should obtain professional advice where appropriate, before making any such decision. To the maximum extent permitted by law, the author and publisher disclaim all responsibility and liability to any person, arising directly or indirectly from any person taking or not taking action based on the information in this publication. Neither the author nor the publisher are affiliated with the case study companies presented in this book, nor is any endorsement inferred based on their inclusion.

Dedicated to women in business and leadership,balancing the constant work, life,and family juggle.

FOREWORD

What you see is what you get with Jodi Cottle. She is self-motivated, honest, generous, focused, and she cares deeply about the people in her life, including her team members and clients.

Her genuine respect for others and strong generosity of spirit is part of the reason she has had a successful career — several times over. Since joining the Laser Clinics Australia family almost four years ago, Jodi has been an inspiring example of what can be achieved when you combine an entrepreneurial mindset with a franchise system and proven business tools that optimise productivity and foster engaged, high-performing teams.

Jodi's business is going from strength-to-strength, year-on-year. Her staff are happy, and her clients are raving fans, and none of these achievements are due to luck. They are because Jodi has dedicated her career to learning how to succeed in business. Working in different jobs, sectors, and countries, as well as for different leaders has given Jodi the opportunity to learn and test many frameworks and tools to achieve sustainable high performance — both in herself and her teams.

You might think that to be a successful business owner you have to both work on and in the business all the time. Jodi's story proves that's not the case. While Jodi is a very focussed and results-driven Laser Clinics Group franchisee, she has put in place systems and developed high-trust and empowered teams that help her have a healthy work and life balance.

And now, through this book, Jodi is sharing her ‘secret sauce’ to achieving success, so that other female leaders can create high-performing and sustainable workplaces — freeing them up to do more of the things they love. Jodi's story and philosophy will challenge your thinking and inspire you to try new ways of working and leading.

Jodi told me that the reason she's written this book is because she wants to create happier workplaces — where staff are engaged and empowered — by helping her fellow female leaders fix two common business problems — staff and customer turnover.

The Pocket MBA is a refreshing, easy-to-read business book that is full of smart, simple strategies and tools that can help any woman excel as a leader and business owner.

This book is an MBA-taster that gives female leaders, business owners and aspiring future franchisees unfettered access to a range of practical frameworks to take their leadership and business to the next level.

But mostly, it's a playbook for succeeding in business. Thank you Jodi, for sharing your wisdom with the next generation of business leaders and Laser Clinics Group franchisees across the globe.

Shannon Luxford

General Manager

Laser Clinics Australia

ABOUT THE AUTHOR

Born and raised in a small country town in New Zealand, Jodi spent most of her adult life in Auckland before relocating to Australia.

Jodi has been entrepreneurial from a young age, buying her first investment property at the age of 19, and building up a portfolio of six investment properties by the time she was 25. Jodi's self-taught property and investment expertise led to a career as a mortgage adviser in Auckland and, later, London. Having garnered recognition for her knowledge in the industry, she became a sought-after presenter at seminars, teaching people how to be successful in property investment.

In 2008 Jodi published Young & Singles Guide to Property Investment, a guide for first-time buyers that gained attention across New Zealand, where she appeared on morning TV shows and in magazines. Jodi was invited to speak regularly at industry events and became a commentator and advocate for first-time buyers.

As Jodi's career progressed, so too did her focus on business. She completed an MBA in 2013, specialising in sustainable customer experience strategies. In addition, she undertook study in applied cognitive neuroscience in the field of leadership, which quickly became a passion. Jodi applied her understanding of neuroanatomy and neurophysiology in real-world scenarios, delivering outstanding results, with a long list of stable, cohesive and high-performing teams. This high level of performance and instantly recognisable team dynamic led to career opportunities through promotion and head-hunting, as she was asked to apply her strategies to new teams, customer challenges and bigger markets.

Now living in Australia, she has established a high-performing business within the world's largest aesthetics franchise network, Laser Clinics Australia. Winning multiple awards, including Franchisee of the Year in 2021 and Clinic Manager of the Year in 2022, her business has become a well-oiled machine, using Jodi's established leadership techniques and management principles to boost team dynamics and results.

INTRODUCTION

Welcome to The Pocket MBA! I'm so happy to have you on this journey with me. I hope that after reading this book, you'll feel the following:

a sense of comfort that you aren't alone in some of the issues you may have faced in your career

more assured in your direction and leadership ability

confident you finally have the tools to put in place all the stuff that enables you to kick back a little bit — without compromising your income.

Ultimately, these three things are the reasons I wrote this book! The Pocket MBA is all about empowering and helping you, as a woman leader, to create happier, high-performing and sustainable workplaces, freeing you up to do more of the things you love.

An express MBA …

This book isn't a fluffy story about how I became a multimillionaire at age 40 by being a high-powered executive or a start-up genius — I am neither of those.

After working in sales roles for ten years, I moved into corporate leadership positions, building successful and high-performing teams over the next 15 years and achieving significant advancements in my career.

I have now invested in my own business as a franchisee, and my current staff turnover is less than 10 per cent — in an industry with an average turnover of 50 per cent. My business consistently sits in the top 10 nationally for its net promoter score (a customer experience metric), out of more than 200 franchises. Of all the businesses within the network of a similar age to mine, my business has over 500 per cent more five-star Google reviews.

Throughout my career, I have developed and followed certain methodologies and mindsets that helped achieve sustainable high performance — both in myself and in my teams. I provide an overview of these methods and frameworks throughout this book. Keep in mind, however, that I'm providing an express guide. This book is all about giving you a quick-start reference to succeeding in business as a woman leader. I provide the basics on the best methods and tools to focus on, along with some key tips and real-world anecdotes to help with your understanding. I don't provide a deep-dive into any of the particular areas — once you have a good idea about how each method can help you, your career and your business, you can research further as needed.

… For women in business

Along my journey, however, I came up against certain challenges, and many of the kinds of challenges I faced are unique to women in business. These challenges include ‘mansplaining’, ‘hepeating’, sexual harassment, discrimination and the gender pay gap.

No doubt you know all about the mansplaining phenomenon, and have likely experienced it. An interesting US study by OnePoll surveyed 2000 women in the modern workplace and found that women experience being mansplained to six times per week at work — six times! That's 312 times a year for a full-time employee! Now I know from personal experience how frustrating this can be but, to add insult to injury, perhaps you've also had your voice go unheard until a man repeated your words. We now also have a term for this, thanks to astronomer and physics professor Nicole Gugliucci (and her friends) — ‘hepeated’, which Gugliucci defines as ‘when a woman suggests an idea and it's ignored, but then a man says the same thing, and everyone loves it’. Thankfully, hepeating is becoming less and less accepted as more women move into leadership roles and balance up the table, but it does still exist.

Even worse for women to endure than mansplaining and hepeating is sexual harassment in the workplace — which still effects a staggering one in three women according to Safe Work Australia. What is even more alarming than that statistic is that only 17 per cent of those who experience sexual harassment make a formal complaint, with many women instead shoving it as far under the rug as it will go in an effort to forget it ever happened due to the rancid ‘ick factor’ it generates.

Unfortunately, many women put up with these challenges and threats day after day, feeling like they have no other choice. Well, we do have a choice and, over time, our choices can help change the unconscious societal biases that are entrenched in our workplaces and beyond. These biases can sometimes be the crux of a woman's limiting beliefs; however, they can, and should, be overcome — and it starts with awareness, and having the right tools and methods in place.

For this reason, the first part of this book focuses on you as a female leader. I don't delve any further into how or why women face different challenges in the workplace — I'm sure you already have a pretty good awareness of the extra hurdles you've had to jump. Instead, I help you concentrate on mindset and maintaining your focus by considering your personal values, combating imposter syndrome, and controlling your environment. I also look at some brain science behind productivity and moods and how this enables you to stay in the right head space, or at least have some awareness of why you might be feeling the way you are — rather than going off on negative thought tangents.

The challenges I have faced — and the outcomes from these challenges — ultimately defined the type of leader I wanted to become. They also made me passionate about raising further awareness through my own stories, and helping provide women with the business and leadership tools they need to overcome their own challenges — whatever they may be.

My story

My early corporate career challenges of dealing with mansplaining, hepeating and, unfortunately, instances of sexual harassment often resulted in me feeling like my usual positive outlook and mindset were being repressed. Ultimately, however, these challenges made me determined to be heard.

By living through my own tale of mistreatment and coming out the other side, with the help of my next boss, I was able to identify key leadership styles that were critical to my eventual success. Later in my career, facing challenges such as the gender pay gap and being made to justify how I would balance motherhood and a career, ignited a passion to right this type of wrongdoing. So, I continued to develop my skills, which ultimately helped me build a rock-solid foundation for my business.

My experience of sexual harassment occurred early in my career, after a male boss enticed me to work for him using a big whopping salary as a carrot, as well as the autonomy and excitement of the role itself in a revolutionary start-up company. Believing it was an amazing opportunity, I accepted. However, it did not take long for the cracks to show. For example, my pay wouldn't go through, and he would use all the excuses under the sun as to why. I also started to receive weird, overly friendly texts after 5 pm that left me confused and feeling extremely uncomfortable. These included compliments on what I had been wearing that day or how I had done my hair or how sexy he found me — pass me the bucket. I found it uncomfortable to be in the same room with him towards the end and would make polite and reasonable excuses to avoid it.

I didn't let the no-pay situation go on for too long, but believing in the role and being slightly naive did mean I stayed longer than I should have. However, when enough was enough, and the pay never amounted to what I was promised, I sued him. A few months later, I won. Unfortunately, the win felt pretty hollow — even though I was awarded what he owed me, the proceeds of the lawsuit did not cover the costs to fight it, so I was out of pocket. This landed me, at 25 years old, in considerable debt. But the principle of not letting him beat me kept me fighting till the end — debt or no debt.

Fortunately, I was plucked out of this situation by a man who was the complete opposite of my previous boss. I honestly felt at the time that he was my guardian angel, and he pretty much saved me from becoming quite anti-men in terms of bosses. I had previously worked with him in a different capacity and, when he found out about my plight, he approached me directly with a potential role. When we met up to discuss the role, my guardian angel said that he would clear my debt, justifying that he would have had to pay a similar amount as a recruitment fee if he had gone through a recruitment agent.

He further justified the payment by saying that he wanted my mind clear and not bogged down with worrying about this unfortunate financial situation. He argued he had a big job on the table, and he expected big things. He simply wanted to remove any hurdles so I could concentrate on the job. His kindness and compassion showed me what a true leader was.

Now, do you think that I worked my arse off for that man? You bet I did. And was I successful in the role, indirectly making him successful? Absolutely. To him, paying off my debt was probably just a smart business decision, but I will never forget what he did for me both materialistically and psychologically. And that was my first true experience of a ‘servant leader’. Indeed, this experience started me on the journey of identifying the five leadership styles you need in order to create environments for your teams to thrive into sustainable high performance — represented in my VACAS acronym (covered in much more detail in chapter 2).

Later in my career, these earlier challenges still reared their head every now and then but, having more confidence and maturity, I was able to see them for what they were, without getting sucked into the vortex of consequential negative thought patterns. However, new challenges in this later stage of my career morphed into more tangible issues such as the gender pay gap — which in 2023 still sits at 22.8 per cent in Australia, slightly less at 17 per cent in the United States, 10 per cent for Canada and New Zealand, and 8.3 per cent in the United Kingdom. These statistics, gathered from government bodies around the world, reflect my own experience — while I knew a gender pay gap existed in New Zealand and also when I worked in the United Kingdom, I personally didn't notice it too much until I moved to Australia, where it became blindingly obvious. This makes sense, seeing the percentage gap in Australia is more than double that of New Zealand's gap.

Other challenges I faced as a woman later in my leadership career included balancing my career with relationships and/or motherhood, and the sometimes obvious, yet conversely ambiguous, discrimination that trying to achieve this balance causes. For example, I was once going for my dream job. I was the last one standing in the interview process and I knew it. I was the obvious choice for this role; I had the education, the industry contacts, the experience and the passion. I was down to the final stages of reference checking, which also went perfectly. All was looking good — great actually — with everything moving towards an eventual offer. Then I met the CEO.

The meeting was in an informal setting, and I was led to believe it was simply a formality due to the late stage we were at in the recruitment process. I mentioned in this meeting that I was a new mum to an eight-month-old baby. I thought we were all just building rapport and sharing about our family lives, and I didn't think anything untoward would come from it. Silly me. My being a new mum clearly raised red flags and brought into question my ‘flexibility to do the role’. A short while later, I received a ‘thanks but no thanks’ email, with ‘flexibility’ stated as the culprit.

I was livid — at myself for telling the CEO I had a baby, but also at them for making this a thing that I had to now explain away. Would this have been an issue if I were a man? So, I quickly emailed back, explaining the support system I had in place — which included a nanny, a day care I happened to live opposite from, and my amazing parents who, if they needed to, would drop everything and make the trip to my city to babysit. (They did actually need to do this a number of times, by the way, with one time in particular being due to a three-week shit storm of multiple day-care contagions!) In any case, soon after I sent my reply, would you believe it, the offer came through. This also highlights an important lesson I learned throughout my career: never accept the first ‘no’. I've had to go in to bat for myself many times in my career after getting a ‘no’ initially. And with perseverance, I turned each pesky ‘no’ into a ‘yes’!

Navigating these challenges later in our careers, and negotiating the constant time versus income trade-off we often make as working mothers can sometimes feel frustratingly tough and unfair. While I can't promise this book will remove these problems in society, parts II, III and IV provide inspiration to perhaps help you to overcome them personally. Additionally, the chapters in these parts help you to further your skills and confidence to build a solid foundation for your business, which will help you succeed despite whatever challenges you may face personally.

How this book is organised

Now you know a little more about me and my business and leadership journey, I invite you to settle in and enjoy this tell-it-like-it-is, no-nonsense playbook to help you develop into the best boss that you can be so you can lead yourself, your team, your customers, and your business to sustainable high performance.

I have lived and breathed the information outlined in this book through my leadership roles. Constant practice and critique have ultimately transformed these thoughts, actions and behaviours into the polished methodology it is today — and which I've included here.

This book is divided into four parts, covering leading yourself, leading your people, leading your customers and leading your business:

Leading yourself:

This part examines the importance of developing and understanding your own values and leadership style. It also evaluates the leadership styles that are imperative to effective leadership. I cover combatting ‘imposter syndrome’ and controlling your environment before it controls you, and discuss the applied cognitive neuroscience of successful leadership.

Leading your people:

Being a good boss pays off, and being a bad boss costs — a lot! Up to 57 per cent of employees leave jobs due to bad direct line managers, typically costing a business around 50 per cent of that employee's salary in replacement and training costs. If we take an Australian average wage of $65 000 per annum, this equates to a cost of $32 500 per year for every employee who exits. Then if we take an average small business with a team of 10 people and assume an industry average 50 per cent attrition rate, this means replacing staff is potentially costing this small business $162 500 per year. You are basically paying two and a half full-time employees who aren't even there!

Instead, you need to know how to attract and get valuable employees to stick — and not just stick, but also contribute and be part of a stable, cohesive, and high-performing team. Creating sustainable and high-performing teams does not just happen by chance, however. This part uncovers how to find and keep people best suited to you and your business, and how to cultivate a cohesive and high-performing culture while optimising your workforce's productivity. Cognitive neuroscience themes continue in the chapters in this part.

Leading your customers: