The TREOC Wealth Management Course

INTRODUCTION – COURSE WORKBOOK TRODUCTION – COURSE WORKBOOK The TREOC Wealth Management Course Introduction – 2nd Edition Publication: Address: Pro...
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INTRODUCTION – COURSE WORKBOOK TRODUCTION – COURSE WORKBOOK

The TREOC Wealth Management Course Introduction – 2nd Edition

Publication: Address: Property of Company Registration No.: Contact No.: Contact E-mail: Edition:

The TREOC Wealth Management Course P.O. Box 130 Somerset Mall 7137 TREOC Holdings (Pty) Ltd 96/13308/07 +27-(0)21 851 2730 [email protected] 2

Copyright – the copyright of information and software is reserved by TREOC Holdings and no duplication of the information is permitted without TREOC Holding’s prior written permission.

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The TREOC Wealth Management Course

TABLE OF CONTENTS Contents 1. 2. 2.1 3. 4. 4.1

Introduction and welcome.....................................................................................................3 How the programme works ..................................................................................................4 Important note ................................................................................................................................................ 5 Copyright.................................................................................................................................6 Goal setting .............................................................................................................................7 Practical implementation ............................................................................................................................... 8

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The TREOC Wealth Management Course

INTRODUCTION AND WELCOME 1. Introduction and welcome Welcome to The TREOC Wealth Management Course. Reading and using this training programme as well as implementing the business processes we address in the material is going to be a very rewarding and enjoyable journey. You are going to learn many new things. And one thing is for sure, property and business will never be the same again. That, we can guarantee. The course has been designed to assist you both as a property investor and a business owner in the growth and development of your business – in fact if you‟re a property investor then this is your business - and to get you to the point where your business can operate professionally and profitably without you having to be there doing the work every day of every week. The problem with most small or independent businesses is that you, as business owners invest your time and money in your businesses without enough thought. As business owners you may not have considered that by committing your time and working capital you are, in effect, buying your own businesses. You have probably never thought about it in this way and if you do think about it, you do so with only a vague hope that it will pay off someday. All this is done with the assumption that you are building „sweat equity.‟ Business owners tend to bury themselves in a mountain of work. In fact, your relatives can‟t believe how hard you work! You never take enough time off. You settle for too little pay. Finally, most of you just burn out. What used to feel rewarding, now feels oppressive! Many of you never succeed in building the valuable business you think you are building. What we aim to teach you on this course is that “the purpose of your life is not to serve your business but that the primary purpose of your business is to serve your life” – Michael E. Gerber, The E-Myth. As Gerber points out, what you need to create is a business that functions exactly like a franchise prototype. A franchise prototype is a small business (a franchise) run like a big business (the franchisor). It is a „turnkey‟ operation. Systems exist for each aspect of its operation. It runs independently of its owner. The key is the system. Just turn the key, and it runs by itself! To accomplish this, you need to first ask yourself, “What do I want to do better than anyone else so that customers will choose me over my competitors?” Bigger profits and the benefits that follow are the result of better systems: marketing systems, operating systems, administrative systems etc. In order to know what systems are needed to make your businesses more successful, you must first know what you want to achieve. You must have a vision of what you want and of what you need to do in your businesses in order to achieve it. This is a vision of what your businesses could be. Then, like big businesses, you have to design better systems to take you in the right direction, to implement your vision and make the businesses work for you. Good luck and enjoy the course!

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The TREOC Wealth Management Course

HOW THE PROGRAMME WORKS 2. How the programme works The course has been designed as an online, self-study guide and is divided into twelve chapters – one per month. The chapters will be released through the TREOC website for Platinum members around the middle of each month. We‟ve done this for a reason... We know that at the end and beginning of the month there is always a lot that needs to be taken care of in respect of administration, payroll, stock counts etc. By releasing the chapter in the middle of the month we hope that you will take the time to study the contents and implement our suggestions in your business. Each chapter is made up of six main modules, namely: 1. 2. 3. 4. 5. 6.

TREOC Way Property Excellence Financial Excellence Operational Excellence People Excellence Sales and Marketing Excellence Franchise Excellence – NEW!

We will also be including an Investor Excellence module in some of the chapters. This module will deal with those investment aspects that don‟t relate directly to the Treoc Way (property investing) – aspects like investments in shares, gold, consortiums, and so on. When we include this section in a chapter of the course, we will bring this to your attention. The course chapters are available on the TREOC website – you can only access them online – by way of a Workbook presented in PDF format. The course workbook provides you with information per section topic and includes case studies, practical exercises and implementation suggestions. It is also said that we learn from doing and we therefore strongly recommend that you implement these exercises or suggestions in your business. This is a natural extension of the training course - to see value in the programme you must implement suggestions and recommendations in your business. All practical exercises and suggestion templates have been extracted from the module and saved to a Master Templates folder. This folder is also available online and you can access any of the templates and save them to your computer. You then have the choice of printing the template or working on the document on your computer in either Microsoft Word or Excel. Simply open the Master Templates folder and select the document you require or click on the link in the workbook and this will take you directly to the form. NEW - In Edition 2 of the training programme we have included an assessment tool by providing you with online multiple choice tests. The Multiple choice tests have been split according to the different modules in each chapter and you can therefore choose which of the tests you would like to take – The TREOC Property Excellence test is compulsory as this is the qualifier which allows you to move onto the next Chapter if you achieve a minimum of 80%. If you elect to take some or all of the other module tests you need to score at least 80% on each in order to qualify for a certificate of completion of that module/test.

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HOW THE PROGRAMME WORKS 2.1 Important note Business principles don‟t vary much around the world. The general laws that apply to businesses aren‟t that different either, but specific business structures, tax laws and procedures will differ from country to country. The TREOC Wealth Management Course is based on Roman-Dutch law, which is the foundation of most business laws and principles in the Western world. It should still be understood, though, that something that works in one country may not work in exactly the same way in another country. But the general TREOC and/or business principles will not differ, and that‟s exactly what we want to teach you here; the TREOC business principles will make the difference to your success, regardless of which country you apply them in. One of the principles that you will learn is how to use OPS - this stands for “Other People‟s Skills”. Apply it from the beginning, and make sure you work with people who can apply the TREOC Way according to your country‟s requirements.

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COPYRIGHT 3. Copyright The content of this Document is both privileged and confidential and may not be disclosed or reproduced without the express authorisation of the rightful owner, being TREOC Holdings (Pty) Ltd. In this regard, the attention of every recipient of this document is drawn to the provisions of the paragraph, which follows, the contents of which shall be binding upon such reader and/or recipient. For the purpose of this paragraph a Doer/Transgressor shall be deemed to mean any person including, without limitation, the recipient of this Document who acts in breach of the provisions of this paragraph. Copyright subsists in this Material and any associated documentation, diagrams and annexures hereto, which shall include all and /or any ideas, plans, models and/or intellectual property contained in this Document). Any unauthorised reproduction, adaption, alteration, translation, publication, distribution or dissemination (including, but not limited to, performance in public and broadcasting) of the whole or any part of this Document in any manner, form or medium (including, but not limited to, electronic, oral and visual) whatsoever will constitute an act of copyright infringement in terms of the Copyright Act 98 of 1978 and will make the Doer / Transgressor liable to civil action and may in certain circumstances make the Doer/Transgressor liable to criminal prosecution.

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GOAL SETTING 4. Goal setting In order to assess the impact that The TREOC Wealth Management Course has on you and your business over the next twelve months, you must establish your goals going forward – what is it that you want to achieve in the business and over what period of time are the real key factors that must be considered. You‟ve heard the saying “Fail to Plan, Plan to Fail” – if you don‟t have a plan (goals) in place, you cannot measure what you are doing and if you are making any progress. It‟s wonderful that you‟ve decided to read the course workbook and will hopefully continue to do so every month but think of it like this: You are giving up some of your time every month for twelve months. Maybe even taking time out of the business in order to really study the material and work on your strategic plans but hopefully this will be time well spent learning how to manage and operate your business better. However, unless you can see actual progress and improvement in the business on an ongoing basis, what will you actually have achieved at the end of the twelve months? Just as having a business plan will help you to get from where you are now to where you want to be, setting yourself goals will allow you to get through each stage of your plan with clarity of purpose that is essential in good business practice. When setting your goals you must make sure that they are within your reach, make sure that you set yourself SMART goals: S.M.A.R.T Goals are always Specific, Measurable, Achievable, Relevant, and Time bound. Specific - Keep your goals simple, if there are more goals that you want to achieve, that‟s great (and there should be), but do it one step at a time. Simple doesn‟t have to mean easy but it does need to be clear in your mind what the single specific outcome will be. Measurable - If your goal cannot be measured then you will never know when you have reached it. By the outcome of your goal you should know whether you have achieved it either by the amount of money you have made, the progress to next step of your plan, a hit or miss on a sales quantity etc. Achievable - Goals must be achievable from where you are now. Keep your goals realistic, if you are just starting out then expecting a 5 figure a month turnover as your next step will only lead to greater setbacks in the long run as you don‟t make allowances for what happens in between. Realistic - Don‟t get ahead of yourself. Keep your goals relevant to what stage of your business you are currently at. Achieving your goal should directly further your business and smoothly move you to the next logical step. It might feel slow but it will take longer if you have to back track at a later date. Time Bound - Set a time frame for your goals, i.e. by what date do you want to see certain goals being achieved. If you don‟t place realistic timeframes on your goals then you will find yourself drifting along in a constant state of procrastination, making little progress.

From a timing perspective, we would like you to set your goals identifying where you would like yourself and your business to be one year from now. This training course should form the basis for Page |7

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GOAL SETTING your goal setting and as such we have developed a Goals Worksheet for you to complete. You can either use the Goals Worksheet as it is and complete all sections, or you can be selective and determine which goals you want to set and even add some of your own goals.

4.1 Practical implementation

Click here to access the Goals Worksheet template in the Master Templates folder online and save it to your computer. You can either print a copy or work on the document on your computer in Microsoft Word.

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GOALS WORKSHEET

Name:

Date Completed:

Goal 1: Time to Returns Ratio Before you can calculate your desired Time to Returns Ratio, you must first know what you are currently achieving in this regard. Follow these steps: 1. What monthly salary are you currently drawing from the business? 2. What net profit is the business currently realising on average per month? 3. Add line 1 and 2 together which will give you your return (or total current earnings) 4. Determine the total number of hours you put into or work in the business each month 5. Divide the Return (line 3) by the number of hours spent in the business (line 4) – this will give you your current Hour to Rand Ratio 6. Record your goal for an improved Time to Returns Ratio.

R ________________

R ________________

R ________________

_____________ hours

_____ Hours: R _____

_____ Hours: R _____

Goal 2: Revenue 1. What is your current annual revenue for the business?

R ________________

2. What annual revenue would you like to have achieved one year from today? 3. What percentage increase in revenue does this equate to?

R ________________

________ % Increase

Goal 3: Business Profitability 1. What net profit are you currently realising in the business?

R ________________

2. What net profit would you like to have achieved one year from today? 3. What percentage increase in net profit does this equate to?

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R ________________ ________ % Increase

The TREOC Wealth Management Course

GOALS WORKSHEET Goal 4: Hours Spent in the Business 1. Total number of hours you put into or work in the business each month?

__________________

2. By one year from today, what is your objective regarding the number of hours you will be working in the business?

__________________

3. What percentage decrease/increase does this equate to?

__________________

Goal 5: Increasing your Property Portfolio 1. How many properties do you wish to acquire by the end of the next twelve months?

__________________

Goal 6: Recruiting Key People 1. How many key people are you going to employ in the business over the next twelve months? Identify the job function or position that you plan to fill as well as an estimated date for filling that function. Function/Position to be Filled

By When (Date)?

Goal 7: Increasing Customer Count 1. How many customers are you serving on average per year? 2. One year from today, how many customers do you want to be serving? 3. What percentage increase does this equate to?

__________________ __________________

__________________

Possible Additional Goals The following list provides some more ideas for setting goals in the business. Should you decide to select some of these options, then frame the goal as we have done above. Alternatively, if there are additional goals that you wish to add to the Worksheet then these can be recorded below. 

Goals pertaining to business expansion, i.e. number of outlets or expansion into new/different regions



Staff productivity goals – making your workforce more efficient and productive



Improving on your debtors/creditors cycles (if applicable to your business)



Improving your stock turn rate (if applicable to your business)



Improving the lead conversion rate



Increasing the average Rand value per sale/transaction



Increasing the frequency of customer orders/purchases

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GOALS WORKSHEET Goal 8:

Goal 9:

Goal 10:

Opulence Goal 1. My personal goal is: ___________________________________________________________________________ ___________________________________________________________________________ 2.

I have decided to implement the following ideas in my business: Idea

Implementation Process

Implementation Deadline

3. These ideas have had the following impact on the business and/or profitability thereof: Idea

Impact or Results

4. Over a 12 month period, what do you estimate the overall financial implications of implementing this strategy will be? ____________________________________________________________________________ ____________________________________________________________________________

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