28 Oct

A Case Study: Their Business Was Heading For Failure…

Bill and Cindy were a husband and wife who always dreamed of owning a business.  After getting an operating capital loan from an Internet bank they bought a franchise and went to work.  Things looked very promising for them as they quickly started selling their services with projected sales exceeding $170,000 for their first year.  They even hired a Coach who promised to increase their sales by 10 fold.  When Bill and Cindy began to realize they were losing money rapidly and were depleting the cash they had received from their operating capital loan they reached out to me.  Their business was heading for failure and they were on the verge of losing everything.

WARNING!!!  Facts are used in the following – this is a real-life situation where only the names have been changed.

They reached out to me based on a referral from a mutual acquaintance.  I began my work with them by understanding their business.  This is what I learned:

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21 Oct

I Need To Hire People Now!!

 

Recently I had a couple of Blog Posts that were strategically focused in regard to recruiting.  A question came from some readers because of that.  They asked, “what about recruiting for today’s needs, I need people now.”   Recruiting, for now, isn’t much different than establishing a strategic approach but, methods that are used may be different than the methods you currently use.

Let’s look at those methods and further, let’s keep it simple…

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14 Oct

Are There Rules In Business?

John, not his real name, broke the rules.  You see, John is 82 years old and he decided to start a business.  It gets even better as John started a technology business.  Everyone he knew, friends and family, told him he should be retiring and not becoming an entrepreneur.  John broke the rules.  By the time he was 85, John’s business was grossing over $1M.

John Broke a Rule

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07 Oct

Business Coach or Business Educator

It seems a Business Coach is born every morning.  Somebody wakes up and their first thought is “I’m going to be a Business Coach.”  I am aware of several of those near me and they harm an otherwise high potential growing profession.

Let’s establish first a foundation reality.  Coaching is an unregulated industry.  It has no standards, no license requirements, and no regulatory or governing body.  It simply is.  Because of this, it is imperative that when you select someone to help with your business that they have the right credentials and provide you with what is most important to your business.  Be wary of those who promise results; I know of one “Coach” who promises to triple revenue, yet does nothing to measure or demonstrate how they will do that.  They charge their clients a lot of money for that too. They don’t even offer a refund if the promise is not kept.

A good Business Coach is a Good Business Educator.  They don’t just give you forms to complete, send you text messages multiple times a day all preceded by vague or near impossible commitments of helping drive you to success.  Further, they don’t offer you better service or results by increasing their prices.  While the premise of coaching is to help you find the solutions within yourself, all too often the real solution comes from you being shown, educated if you will, on how to do the things necessary to develop a successful business.  This is where the Business Coach MUST be a Business Educator.

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