Category Archives: Uncategorized

2C growth cycle 600 wide 20151211

The three Cs of highly profitable business growth

If I could show you a really simple and powerful construct for diagnosing what’s holding your business back right now and how to double your business without working any more hours, would that be of high value to you?

So many businesses seem to hit a barrier that stops them growing any further. They get loads of sales without needing to do advertising or marketing, and the business owners would love to grow even more, but they have no spare time.

“If you spend too much time thinking about a thing, you’ll never get it done.” ~ Bruce Lee

Well, the reason they are stuck is because they don’t know how to progress on the three Cs of highly profitable business growth. But rather than explain, let me show you in this short six minute video.

This simple and powerful construct makes it easy to identify what has to happen to get your business unstuck and moving up to the next level. And when you add the third C, you can significantly improve your profits and the reach of your business.

Most business owners will eventually get the customer side sorted out, and they get there fast with the help of a good marketing specialist. But…

A very successful mentor of mine once said that referrals wont grow your business. Doing a great job and getting great referrals can only FILL your business. It gets you customers and moves you from right to left. That’s when so many businesses and their owners get stuck, because the strategies to get you from left to right, from needing Capacity to needing Customers are totally different.

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And when you take care of both sides of the cycle in turn, then you can easily and effortlessly flow upwards in the growth of your customer base, business and profits, which is what we all want.

So let us know where your business is stuck or about to get stuck on the cycle right now, and we will let you know the fastest ways to get you going again. Email us now.

And from the team at Business Time Lord, we wish a very happy and safe Christmas and New Year to you and yours.

Have a great week.

The Business Time Lord team

P.S.

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How to avoid Christmas Burn-out in your business

Have you noticed how a lot of businesses want stuff done before Christmas, and that causes a mad rush, long days and exhaustion? So much so that many business owners work so hard in the lead up to Christmas, that they are too tired to enjoy the break. They lack the energy to play with the kids and enjoy the BBQs. And by the time they’ve had a rest and got their energy back, they realise they missed most of the break.

And because they were so busy before Christmas, they did very little advertising or marketing, so they don’t have much work lined up for the new year.

We hear that a lot, and there are a few simple things you can do to set yourself up for a successful Christmas, a great break, and a positive start to next year.

But first, if you don’t have time to learn this stuff, and just want someone to do it for you, at a ‘one time only’ price that is irresistible, then book in for a complimentary 30 minute strategy session here before 27 Nov 15.

Here are the things that you can do:

1.    Remind people Christmas is coming

Christmas has been in the calendar all year. But it is important to tell people how you will be working over the Christmas period. A colleague of mine runs a printing business and communicates really well around the Christmas period. He tells his customers when they will be shut down, the deadlines for submitting new jobs in order to get them delivered before Christmas, and when they will re-open in the new year.

And the key benefits of doing this are:

·         receiving more orders in November and December

·         avoiding last minute orders that have to be rushed through

·         helping your clients to be better organised and less rushed in their lead-up to Christmas

2.    The “Need It Now” premium

Imagine this. You are well organised and proactive. You ordered some items from one of your suppliers, well in advance. Someone else less well organised places a similar order at the last minute. Yours should get priority, right? And if the supplier has to pay overtime and do additional tasks to juggle the workload in order to complete both orders, that should not affect your price; the other less organised person should pay the premium, right? Yet so many businesses just say ‘yes’ to new orders, and absorb the extra costs. And this eats into more than just the profit margin. It also makes the Christmas burnout worse.

‘For every minute spent organizing, an hour is earned’ Benjamin Franklin

Instead of this, give them options. When someone wants to buy from you in the lead up to Christmas, you look at your existing workload and capacity (if you don’t have a clear view of this, we can help) and determine when you can complete their work, taking into account your existing workload and the amount of time until Christmas. You then let them know your normal price for the work to be completed within existing capacity (and this may be for completion after Christmas). You also tell them the additional price if they want it quicker (you tell them the date you can do it by). And we can show you how to come up with appropriate prices and dates.

But what if they won’t pay the extra? That’s easy. They either don’t need it earlier, or they don’t really value your stuff all that highly. For the former, that helps to fill your order book for next year. And for the latter, if they don’t see the value in what you do, or recognise the extra effort you would be putting in to fit them in before Christmas, then maybe you should consider whether you fire them as a client and make room for other clients who do value and really appreciate what you do. Customers who don’t expect you to do just absorb the extra costs.

Another great benefit of this is that you can use it all year round to make sure you don’t commit beyond your capacity. And this can only help to build a better reputation with your market.

3.    Capacity management and the three-point estimate

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We all know that when everything goes right, we can get stuff done quicker and cheaper. And we also know that when Murphy’s Law kicks in, things will take longer and cost more to do. But most businesses don’t take these two fundamental planning issues into consideration with their estimating of costs and delivery dates. From my 15+ years of project management, three-point estimation is one of the most powerful and under-used techniques for meeting or exceeding expectations AND for saving costs. So here is how you do it.

Firstly, this can be done simply, without fancy tools. In fact, a spreadsheet can be a good start for many small businesses. When you normally estimate tasks, you come up with your best estimate (or guess) of the time and materials costs, think about the people who will do the work, how much work they already have on, and then come up with an estimated finish date. Then you tell the customer what it will cost and when it should be finished, right?

The is one point of the three. In three-point estimation, instead of just one cost and schedule, you have a best case, worst case and most likely estimate. For example, a builder is going to build a house. For the best case, the permits are approved really fast, the weather is great and the sub-contractors all do their stuff on time. That results in a cost and schedule estimate for the job of three months to completion and $100,000. But you know it will never go that smoothly.

The worst case is that the permits take a long time, the weather delays works a lot, and the sub-contractors keep getting other, more profitable work and seem to only work on the house a couple of days per week. That results in a cost and schedule estimate for the job of six months to completion and $160,000. But from experience, you know it is not likely to that bad. So your most likely estimate for the job is 4.5 months to completion and $125,000.

Now these are just numbers, so are you ready to learn the most powerful bit? The commitment you make to customer is based on the six months and $160,000, and you let them know you will do your best to finish earlier. And you get your team and the sub-contractors working towards the three months and $100,000 target. When you do that, then you are likely to land somewhere in between. And every time it looks like you are going to finish later than three months and over the $100,000 target, it can be reported, and you can take action to finish as close to that as possible to the best case.

Contrast that to how most businesses operate, with just one point (and noting that for many businesses, the one point is usually a conservative estimate closer to the worst case). Nobody is trying to finish in just three months, and they may not tell the bosses about a problem until a delay beyond six months is inevitable, or they have spent the $160,000 and need more money (or both).

So what are you going to do from now onwards? Use one point or three-point estimation for your work? Because that can get your work done quicker, save you money, and give you more control over work-load and commitments, as well as making for a much better Christmas. And that’s what we all want. And if you just wish that someone could implement this in your business, at a ‘one time only’ price that is irresistible, then book in for a complimentary 30 minute strategy session here.

I trust that you found this useful, and maybe you can see that if you did these three things, you could have a successful Christmas, a great break, and a positive start to next year. So go and do them now. Schedule time in your calendar for when you will action these things.

If you know this sounds sensible, but you are not sure how you would find the time to implement this in your business, we can do it for you. But we have a limit on how many new clients we are taking on with this one-time offer, and the offer will expire by 27 Nov 15 or earlier, so book your complimentary 30 minute strategy session now.

Have a great week.

Russell and the Business Time Lord team

For more information visit www.BusinessTimeLord.com.au

Big rock

Are you making time for your big rocks?

If you’ve ever got to the end of your working day (yes there is such a thing) and realised that even though you have been busy all day and are exhausted, you have made little or no progress on the things on your list, then watch this two minute video.

So many business owners are flat out busy, but spend too much time on the wrong stuff. The stuff that may help others, but doesn’t move the business in the right direction.

The time has come to stop that, and to start making time for the things that will move your business fast towards your goals (you’ve got those written down, right?).

And if you know you should, but don’t know HOW, contact us to find out about our next training events, or book a complimentary 30 minute strategy session to find out whether we are a fit to work together to boost your productivity and help you get your lifestyle the way you deserve it to be.

Book your strategy session here.

Have a great day,

Russell and the Business Time Lord team

For more information visit www.BusinessTimeLord.com.au

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How Parkinson’s Law is impacting your profits and time

In this video, I explain why you have to be considering Parkinson’s Law if your business is providing services and you want to make more profit (and avoid losses), finish tasks quicker for your clients, and ensure you can deliver on your customer commitments.

Want to find out how you can use Parkinson’s Law to make more profit and get more done in less time, download our Cash For Time Calculator to see for yourself how much money you are leaving on the table, then book in for a complimentary 30 minute strategy session.

Parkinson’s Law – ‘Work expands to fill the time available’

 

Download the Cash For Time Calculator here

Have a great day,

Russell and the Business Time Lord team

For more information visit www.BusinessTimeLord.com.au

information-overload

How to empty your inbox in three easy steps

So many people struggle in the 21st Century with managing their emails. I often come across people with 5,000 or more emails in their inbox! Seriously. Maybe you can relate to that?

They go home at the end of each day knowing that there is stuff they should have done, but don’t really know what it all is or how to get it back in control. They dread looking at the huge mountain of emails that awaits them. Their days often feel like a stream of email distractions (and maybe phone calls from the people that were expecting a response to an email), with barely any time left to do stuff on their list. Something has got to give, but what?

Three Simple Steps
If you can relate to any of these challenges, here are three simple steps that can help you to get back control of your inbox.

1.   Create folders for emails requiring Action and for emails received that relate to the various aspects of your business (eg. clients, projects, products, etc).
2.   Set up rules to automatically move particular types of emails that you want to keep, but don’t need to read right now (eg. like the one I received today from that real estate list I signed up to, about the latest interest rate announcement)
3.   Move all of the emails in your inbox to either the Action folder or one of the other received item folders. And you do this at designated times each day; just 15 minutes or less each time.

It is so important to realise that when YOU choose where you invest your time, instead of letting the email senders choose what you are going to work on today, then you have taken back control and can start to make better progress.

If you do that, it sets you up so much better to stay on top of your emails, regardless of how many you receive in a day. And every day when you finish work you know that you are on top of your emails. And that’s what we all want.

Often people say that it can’t be that simple, can it? Well, these are the fundamentals, and of course you would need to set up the folders and rules to suit your way of working. And you may have a range of questions, depending on your email program, etc. So if you have had enough of email overwhelm and want a little help to get it all sorted out, then you might be interested in out upcoming event How to empty your inbox in three easy steps.

Now we all know that managing emails is not sexy, but boy it is great to end the day on a high.
Whether you:

  • have more than 1,000 emails in your inbox (or you wish it was so few!),
  • are continuously distracted by emails you receive, or
  • are worried about the things in those emails that you should have done already (and which customers you have let down).


Either way, you’ve got better things to do with your time, which is why we put together this short 30 minute training that:
– gives you the tools to empty your inbox in less than 15 minutes twice per day,
avoids the distractions emails so often bring,
– enables you to get more done each day, and
– you can finish work know that you are on top of things

This ‘How to empty your inbox in three easy steps’ event is COMPLETELY FREE and can be accessed from the comfort of your own computer. It is at 10am on Friday 17 Jul 15

And if you are too busy at that time, you can get a copy of the recording, just by registering. We’ve allowed 30 minutes, but the education will be quicker than that, and there will be time for you to ask your questions.

By the end of the webinar, you will know exactly what you should do to empty your inbox and finish work on Friday knowing that you are on top of things. And we will also be sharing some great bonuses for those on the call.

Here’s to the time of your life,

Russ 
Business Time Lord

P.S.  Here is the LINK TO REGISTER once again…

Want to know why doing a great job wont grow your business

Doing a great job will fill up your business (and your calendar), but it won’t grow your business. Email us to find out why, and what you do about it right now.

When you do great work, the word gets around, and more and more business comes your way. You don’t need to worry too much about marketing, and most of your business comes from referrals. And your business gets full to over-flowing. If you keep saying yes to all the people who want you to fix their problems, you end up ridiculously busy, your calendar is full (maybe over-full) and other areas of your life may start to suffer.

But how do you fix that? Our latest e-book, due out shortly, covers exactly this dilemma that so many small to medium business owners face. To get a copy as soon as it comes out, email now.

Tony’s story

Tony is a bookkeeper; a really good bookkeeper. And Tony has his weeks filled with doing the books for others. People want more, so Tony works longer hours to help them out, and puts his prices up a bit too. Tony doubled the size of his business by pretty much doubling his time in it. Then his computer network stops working, so what does Tony do? He could try to fix it himself, but who knows how long that could take. And he knows that his time is better spent doing books than trying to fix a computer issue, so he gets a computer network specialist to fix his problem, while he continues doing the books. Now Tony is still spending all his time doing bookkeeping, but people want more and he also wants to grow the business to five or 10 or more times the size. So what does he do?

Tony realises that just because he is good at bookkeeping, doesn’t mean he is good at all the other things needed to grow a business. So he calls another specialist, and learns the three key things he has to do to solve the problem.

“Businesses don’t grow, their leaders do“

And those three things are:

1) Goals – Be really clear on what you are trying to achieve (and why)

2) Systems – Anything that is going to be done multiple times should have a documented system for it

3) Delegate/Out-source – Find people you trust to follow your systems (for what you are great at) and take care of the stuff you are not great at.

And by implementing those three things, Tony was able to grow his business consistently without working any more hours. In fact, Tony knows how to grow the business and reduce his time in it.

So if you are doing great work and have no time left for anything else, request a copy of our latest e-book now.

Have a great day,

The Business Time Lord team

P.S.     If you found this useful and can think of anyone else who would be interested, forward this to them or let them know that they can sign up for these newsletters here.

For more information visit

www.BusinessTimeLord.com.au

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You’ve simply got to learn this #1 lesson for saving time!

So many people want more time for stuff. They are so busy and just don’t seem to get everything done that they want to, but they don’t know how to fix that.

Well. It is really simple and comes down to one two-letter word. If you don’t learn this lesson, you are always going to be stuck on that tread mill; needing more time, worrying, stressing, overloaded and overwhelmed.

And if you do learn it then you can save time, be more in control and relaxed, and finish every day happy with what you did.

So watch this two minute video, right now.

#1 lesson for getting more time yuotube 20150422

And remember, the three simple steps to making time for what matters most are:

1. Have criteria to make it easy to decide what to say yes and no to

2. Keep track of what you spend your time on

3. Have clear boundaries in relation to your time

“The critical ingredient is getting off your butt and doing something. It’s as simple as that. A lot of people have ideas, but there are few who decide to do something about them now. Not tomorrow. Not next week. But today.” Nolan Bushnell

So you can think about what you were going to do for the rest of today, and decide what you will not do, and what you will get to do instead. And just imagine how much better you will feel at the end of the day.

Have a great day,

The Business Time Lord team

P.S.     If you found this useful and can think of anyone else who would be interested, forward this to them or let them know that they can sign up for these newsletters here.

For more information visit

www.BusinessTimeLord.com.au

Just-a-Minute-20150320

It won’t take long, but it will take away

We’ve all been there. We know there are some really important things that we should get done today. And then you think of this other little job that you could get out of the way right now. You hear yourself saying “It won’t take long. I’ll just do it now, so it’s done and out of the way”. And maybe even a bit of “Doing it now or later will take just the same amount of time”. But there is a hidden danger here. It diverts you attention from what you really should be doing. Consumes your time. And so often does that one or two minute task actually take way longer than you expected. Right? Maybe you have also experienced this.

Just like when someone drops by and asks “Do you have a minute?” it almost always takes more than a minute, doesn’t it?

So that small task, that would be nice to tick off, really won’t take long. But it will take away your focus and take away the time you should be spending on the really important stuff right now.

Satisfaction

While people do get some degree of satisfaction from ticking things off their list, it is far more satisfying to complete the important stuff than just tick off some small (and typically less important) thing. Each day, you should know the 1-3 top priority (priority 1) tasks you have chosen for that day. The ones that are most important to you that day (you chose them yesterday before finishing work, right?). These are tasks that are important to you, will help move you towards achieving your goals, and maybe are things that you have been putting off for too long already.

“Discipline is simply choosing between what you want now and what you want most “

Just imagine what it will be like when you have all three of them completed and ticked off later today, maybe even before lunch. How good would that be?

And in contrast, if instead of doing the priority one tasks now, you did that small thing that won’t take long, then another and another. Before you know it, another day is gone (that you will never get back) and you have spent it ticking off all these little things that really took longer than you thought they would. “Oh well. There’s always tomorrow. I’ll start on the top priorities tomorrow”. But we all know that tomorrow never comes, and years can go by without making any progress towards your goals. And that sucks.

So which would you rather? I know which one I choose. And I am doing it right now. I have my list on the desk next to me. In the left column are my three #1 priorities for today, and finishing this blog will complete the next one of them. In the right column are the other things I would like to get done today (priority #2 or lower). I can do them once I finish the priority #1s. As things may pop into my head that need doing, I write them down on the right, so I won’t forget, and they may get done later. I intend to complete all my #1 priorities today before lunch. And that feels good just saying it, and picturing how good the afternoon will be once I have achieved that. How about you?

So next time you are tempted to do that job that won’t take long, instead of actually doing it, write it down on your priority #2 list. That way you will remember to do it, and once your priority #1s are done today, you can then choose which of the other things you will complete and tick off today too.

And if you don’t tick off your #1 priorities for three days, contact us and we can help you overcome what is holding you back. Or to find out about how the entire Business Time Lord system can give you the control and freedom in your business, contact us now, The time has come to do it now.

Have a great day,

The Business Time Lord team

P.S.     If you found this useful and can think of anyone else who would be interested, forward this to them or let them know that they can sign up for these newsletters here.

For more information visit

www.BusinessTimeLord.com.au

interruption-marketing-20150304

Have you ever been delayed by someone dropping in when you were about to go out?

You know the feeling. You are all set to leave for an important meeting, to go home, or something else that you are looking forwards to. Then someone drops by or calls you. They say it will only take a second, and you know it always takes longer than that. You don’t want to be rude, but what do you do?

Well, it just takes three simple steps to overcome this and be back on track. Three steps to make sure that you respond professionally and politely, continue to be on time, avoid stresses and prioritise appropriately. Instead of the way that many people do it, which is to allow the conversation to begin, to be late for probably the rest of the day, and to stress out about where they should be and what they should be doing.

Watch this two minute clip for a brief summary of the three key steps.

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Step 1. Urgency – Whether you are leaving right now, have less than two minutes to go, or longer, let them know how much time you have. “I’ve only got about two minutes before I have to leave for a meeting…”

Step 2. Purpose – Without having the full discussion, you want to find out the purpose of their chat, whether it is to inform you of something, ask you a quick question, or have a longer discussion. So you can ask “What is it that you would like to talk about?”

Step 3. Options – Assuming that responding to their query will take more time that you’ve got, give them a couple of choices. For example, “Would you prefer for me to drop by when I get back, or shall I book a meeting with you for later this week?” Take into account what time you have got today and how important their thing is to YOU!

So putting it all together, it could go something like this: “I’ve only got about two minutes before I have to go for a meeting. What is it that you would like to talk about?” They answer briefly, and then you say “OK. Would you prefer for me to drop by when I get back, or shall I book a meeting with you for later this week?”. Easy, right?

Life isn’t about waiting for the storm to pass; it is about learning to dance in the rain.

Now this can work really well for most people in most situations. And if you think this may not work for you, let us know and we can help you respond better to your situation. For example, if a REALLY important person drops by and your priority is on them ahead of the other thing you would have been doing, you may say something like “I want to give this/you my full attention, so I just need a minute to contact the person I was going to be meeting with, and I’ll be right with you” (note that this is not a question, but a statement). Then do what you need to (eg. text, don’t call, the other person that you will be late) and get back to the priority chat.

The phone rings…

And remember, if you are just about to leave and the phone rings, let it ring. If it is really important, they will leave a message, just as they would if you had already left, were driving or were going through a tunnel with no reception.

P.S.  A good voicemail greeting is invaluable at times like this. To find out what we recommend for a really productive voicemail greeting, ring any of us or email us.

Have a great day,

The Business Time Lord team

P.S.     If you found this useful and can think of anyone else who would be interested, forward this to them or let them know that they can sign up for these newsletters here.

For more information visit

www.BusinessTimeLord.com.au

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How to get an extra hour in your day right now

So many people get to the end of their work day, looking at what’s still on their list to be done, and tell themselves there’s got to be a better way. They feel the pressure of deadlines looming, and they just wish there were more hours in the day. Maybe you know people like this.

The key is, how to solve this. And below is an example of how I do it myself and how I teach others to do it for themselves. And for those of you who saw my one minute YouTube video on Parkinson’s Law, you will relate to this.

First, I have a question to ask you. If you had an extra hour in your day, what would you spend it doing? That is a very important question, because if you don’t know what you would be doing, then you’re not about to make time for it. This works best when there is something really compelling for you. Something that you really want to do, but haven’t been able to make the time so far. Something that when it is done, you will see it as a really worthwhile achievement. You will hear others congratulating you on it, and you will feel that sense of satisfaction that today was a good day and you really made an awesome difference. This thing we will call your Compelling and Awesome Thing (CAT).

When you are clear on the worthwhile thing or things that you would spend your time on, if you had just one extra hour in your day, you are ready to make it happen. And we’d love to hear from you not only how much time you got from doing this strategy, but we’d love you to also tell us what it was that you did with that extra time.

How to get an extra hour every day

Parkinson’s Law says that the work expands to fill the time available. This is just like how you can never have a shed big enough, because no matter how big it is, it will still get filled up. So it is not really about getting a bigger shed, and it is not really about getting more time. It is really about making better use of what we have got.

A lot of people have a junk room or place in the house where they put the stuff that doesn’t fit elsewhere. Ever noticed that? And most people subscribe to the theory of ‘out of sight; out of mind’, so the stuff doesn’t get dealt with until it is overflowing and out of control. Then they get stressed out and overwhelmed about it and eventually spend ages trying to sort it out. And after slogging away for hours, it seems like they have hardly made a dent in it. That sucks. Well, one of my written goals for last year (you’ve got written goals, right?) was to clear the clutter out of our main bedroom.

Suitcases (put the problem in full view)

We had a bunch of stuff piled in our bedroom, including suitcases. For us, the suitcases belong under the beds, but they wouldn’t fit because there were toys under the beds. So we moved the toys out and put the suitcases in. Simple right. Now we needed to deal with the toys, so we sorted them out into three piles; what to keep, give away and bin. And it could only be a ‘keep’ if it would fit where toys are supposed to be kept (a place for everything and everything in it’s place!). We threw out the ‘bin’ stuff, which left the giveaways. So we stacked them up right near the front door, in full view right where everyone could see them. And it got sorted out and dealt with very fast, I can tell you.

This same strategy is what you can do to free up the time in your calendar too. Because your ‘suitcase’ is actually the thing that you really want to have time for. You have to fit it in, so get out your calendar and schedule in an hour today and every day for a week where you will spend time doing you Compelling and Awesome Thing; your CAT.

Now you may wonder what happens to the stuff that you would have been doing during that hour. That’s equivalent to the toys under the bed. Well, that is also quite simple. It will either get done or it wont, depending on how important it really is. We all get distracted sometimes, which impacts our productivity (how long it takes to get something done). And as Parkinson’s Law indicates, if we only have seven hours (instead of eight), the tasks will take seven hours. Just like how people become much more productive in the days and weeks before a holiday. They get much better focused and are much better at handling distractions (as I talked with our Inner Circle members last week).

“Don’t count the days; make the days count“ – Muhammad Ali

And if you are telling yourself that that’s how long it takes, and this strategy won’t work, ask yourself if the things take that long for everybody, or are there some people who would take longer to do it? Did it used to take you longer, but you found better ways? Now unless you are the absolute world’s best in your field (I assume you are good, but not yet world #1), then some people would be able to get the results you are getting with less of their time, right? So you may wonder how they do it, which is a good thing to wonder, and even better to find out about.

And let’s face it. We all spend some time on stuff that we could really do without, like surfing the net, procrastinating, perfecting, re-doing. So however many things you’ve got on your list that you realistically will get done in the day, you really can find ways to get them done in a day that is one hour shorter. And done well, especially when you are better focussed on the results you want to achieve and the CATs that you have been, and will continue to, make your time for.

When you have done this, send us a quick email to let us know how much time you got from doing this strategy and what it was that you did with that extra time.

And for those of you wondering, when we had cleared all the stuff out of the main bedroom, it felt so great to see the space, tidiness and to know that now we are on top of it, it will be much more manageable from here onwards.

Have a great day,

The Business Time Lord team

P.S.     If you found this useful and can think of anyone else who would be interested, forward this to them or let them know that they can sign up for these newsletters here.

For more information visit

www.BusinessTimeLord.com.au