In times of economic difficulty, it is a brave man indeed that invests heavily for the future of the business - yet this is the one thing that has been consistently shown to be the key to longer-term survival. Acting against the herd (who are all pulling in their necks at this time), means that businesses that have carefully directed their investments and have strengthened the key attributes of their businesses, will be those that enjoy the most explosive growth when the economic shackles are loosened!
Employing a Business Coach at a time when money is generally tight may seem like an indulgence. In fact, nothing could be further from the truth - if you are going to focus on ensuring your future business success, then where will you actually start? More importantly, will you actually start?
A Business Coach can work with you to quickly assess where your efforts should best be directed in order to capitalise on your business strengths - remember, at difficult times, it is all too easy to become a busy fool, which for most of us means that we shall fail to capture the best from the inevitable upswing when it comes.
At any time, practically every business suffers from one of the following issues - if any of these speak to you then perhaps it is time that you had a good long look at your likelihood of sustaining your business into the medium-term.
1. You have lost sight of where your business is going and why?
We have all suffered this at times in our careers or within our businesses - our heads are down so much we forget to focus on the horizon. During these times, it is even more important to know exactly where you are going so that you can develop some more of the 'how am I going to get there!' As an 'outsider', a good Business Coach can see the wood for the trees. They are not blinded by industry preconceptions or your business' previous way of doing things - "we've always done it this way" is not in their vocabulary! They will ask you the difficult questions (that perhaps you have been avoiding yourself) and challenge you to take action.
2. Your business does not generate enough profit to justify your efforts.
Then why, exactly, are you in business? If you want to continue doing what you have always done it should come as no surprise that you will always get the same results! This incidentally, is the definition of insanity...! A Business Coach will challenge your thinking and help you to get focused on taking the actions that will drive your business forward and grow your profits. This will involve a level of change (remember if you've always done the same thing...), so you need to be open to this for it to be successful. A level of commitment is also required if you are to change what has been and drive for growth. The results though could substantially increase your revenue and profits within only a few months of starting work with your Coach.
3. Because you are already good and recognise that it's going to take that bit extra to become Outstanding!
What is it in each of us that leads us to believe that we should be able to make a success of our business all by ourselves? We aren't all born great entrepreneurs, and for most of us this means a lot of hard work. Let me tell you, I have been in the Personal Development field for over 20 years, and I still don't know it all! Seeking out coaching support is not a sign of weakness, it is a sign of strength, a recognition that to be the best, we need external support to motivate us towards higher performance. In the same way that top sportsmen and women will always seek out the top coaches in their field in order to excel, you too need a Business Coach if you wish to excel in your business. Your Business Coach will motivate you to want to excel, will hold you accountable for your performance, will demand results from you pushing you forward, will cajole you (at times) but will also be there to congratulate you on a job well done!
Next steps - taking Action
This is one of those periods that will sort out the weak from the strong in business - those who have the strength of will to focus on what needs to be done to ensure their business success, and those that will hold their heads in their hands and bemoan what's happening all around them.
Do yourself a favour, get yourself a Business Coach and get your business into shape.
Get A Business License
I was asked to come observe because the team was making no headway and had been stalled for months, going around in the same circles. Because of a simple fundamental breakdown they spent much of the meeting arguing' there was no agreement on the business model... and there was no agreement because the business's Vision was a tangled mess.
How did this happen? This is a business, so how could it possibly be operating without a clear inspiring Vision? Poorly!
In businesses, whether solo, small firm or large corporation, the lack of a Vision results in continuously wasted resources. I bet you've experience these at some point: great ideas mixed in with bad ones, lots of busy work and duplication and people marking time commingled with focused efforts. People dream of doing great work!
They're hungry for someone to give them a clear direction with a Vision they can sink their teeth into. You can't make a loaf of bread anyone wants to eat if there's chaff in it... What do I mean by "chaff?" At some point in the past 10 years I expect you saw a television show or cable program from a developing country that showed a woman ankle deep in grain. With a light breeze blowing from behind her she was systematically scooping up the grain and tossing it into the air.
Toss the grain in the air and the breeze blows the outer inedible shell, the chaff, to the side while the weight of the edible core drops it to the ground. Presto! The makings of a great pita, or loaf of bread, or strip of pasta. In developed countries, large machinery does the same thing. Millions of tons of grain taken from a confused mass of unfiltered wheat to immediately usable product in a simple, systematic way.
You'd think that if people had been doing this for centuries, actually for millennia, that we'd all know how to apply the principle to other areas of life.
In fact, we don't. Just as that woman sifting the wheat had to learn how to do that, the same holds true in creating productive, profitable business efforts. And the starting point is the same for mega corporations, family owned businesses, professional service firms, or technology start-ups.
You can't get people to step up and produce effective results if your Vision is a mess!
I've seen Vision statements that were 150 words long on plaques on the wall, listened to business leaders drone on from the podium as listeners eyes glassed over, and had CEO's tell me their company was in business, because it was in business.
Don't get me wrong. The business doors are open, products and services are being delivered and money is changing hands. But the employees aren't motivated to do their best work, management is arguing about whether sales or accounting set the business direction, and customers can pick and choose who they want to buy from this month.
Nothing compelling is at the helm - no idea that stirs the staff's juices, no product or service that keeps customers loyal, and no touchstone that reminds people wearing different business hats of the reason they're in a meeting to solve conflicts and make decisions.
Companies come into existence because at one point in time there was a customer for a specific solution, and someone decided to do 'whatever it took' to provide that solution.
And that motivation was a clear compelling Vision.
FedEx established a Vision that packages would be delivered "absolutely, positively, overnight" and that animated every activity in the company. Your success demands that you have a Vision everyone stands for in your organization.
So I'll be working with that client to get a compelling straightforward Vision that ties their efforts together. And it's now your turn! Get the chaff out and create a Vision that aligns and inspires the efforts of your business!
Both Dominic Ashley Timms & Linda Feinholz are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Dominic Ashley Timms has sinced written about articles on various topics from Limited Liability Company. Dominic Ashley-Timms runs the UK's leading company; BusinessCoaching.co.uk, representing the Top Business Coaches across the country. To find ou. Dominic Ashley Timms's top article generates over 14800 views. to your Favourites.
Linda Feinholz has sinced written about articles on various topics from Education Toys, Small Business and Your Online Business. And to learn so much more about how to create new low cost highly profitable streams of income, you can check out The Business Accelerator TeleSeminar Club at
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