The definition of Mastery

Have you ever asked yourself? Can I Master My Business like an expert?

According to Dictionary.com, Mastery is defined as

“A comprehensive knowledge or skill in a subject or accomplishment.” 

Rembrandt is known as a great Master of art. He is one of a few notable artists who have ever achieved that status based on quality and quantity.

Rembrandt is also considered a Master because he taught, mentored and transformed artforms for all.

Many of us consider ourselves proficient in many areas. In addition, some claim to be experts. Mastery requires a high understanding of any discipline and takes time to acquire.

We can master business skills with intensive focus. Here, Success.com identifies ten key activities to achieve mastery.

  1. Determine the skill you want to master.
  2. Set specific stretch goals on your path to developing that skill.
  3. Attach a high level of emotion to your journey.
  4. Identify the factors critical to success and develop your strengths in those areas.
  5. Develop visualisations that clearly show what success and failure look like.
  6. Schedule challenging practices developed by experts.
  7. Measure your progress and get outside feedback.
  8. Socialise your learning by practicing or competing with others.
  9. Continually set higher goals so you keep improving.
  10. Teach others what you are learning.

Furthermore, Ian Finney, your Award Winning ActionCOACH will deliver you a powerful program 6 Steps to Massive Business Results.

Mastery

The first level of business success as Mastery. Without a command or a full understanding of these key areas, business owners will fail to reach their full potential.

Our Mastery key areas are broken down into four separate business sections.

  • Destination
  • Money
  • Time
  • Delivery
Destination Mastery

Here focus is on establishing a powerful mission and vision for a business. Setting S.M.A.R.T. goals will achieve objectives. But, understanding WHY a business exists and WHY one is driven to success is key. Also, at this level business owners need to be clear on their vision and mission. We then move to Money Mastery.

Money Mastery

We now look at understanding the key attributes. Also, the triggers and contributing factors for maximising cashflow. In addition, the reduction cost of good sold (COGS) is looked at. This level of mastery includes in-depth study of;

  • Cash Management
  • Financing and Lending
  • Terms and Invoicing
  • Accounts Payables/Receivables
  • Financial Statements
  • Pricing Strategies and Discounting
  • Cost Controls and Cost Reduction
  • Overhead Reduction and Resource Reallocation
  • Sales Forecasting and Revenue Maximisation

 

Most business owners will employ expertise in these business areas. But remember, it is critical that owners themselves understand every area that affects business results.

Time Mastery

 

 

 

 

 

 

 

After the roadmap for your business destination and money mastery are underway, we then shift your focus to Time Mastery.

At this level, an owner must focus on planning and delegating. Self-education and development are also key areas to commit to for long-term success.

Delivery Mastery

Last, but certainly not least, is Delivery Mastery.

As a Business owner, you must ask,

“How can my business deliver on our brand product or service promise?”

Everything from supply lines, delivery services to customer experience must be analysed. This ensures that the focus is on maximising satisfaction and how easy you make it for customers to buy from you. These are all inherent in this level of mastery.

All level’s of Mastery require study, research, and practice. But, to truly call yourself a business master you must also be able to share and educate others. It is through the sharing of your expertise that you can call yourself a master.

To learn more about how to become the Master in your business, or to see how your business currently stands, take my business health check here today.

You can also contact Ian on 07716 292378, mail Ian at ianfinney@actioncoach.com or click here to book a call. Whichever way you prefer to contact Ian, do it today!

After Mastery, the next step in 6 Steps to Massive Business Results will explore

NICHE.

Stay tuned for more information.