SMALL BUSINESS COACHING SPECIALIST
In order to be an effective and successful small business owner it is important that you identify the answers to the following two important questions.
1) “What is your speciality and your greatest strength?”
2) “What is your greatest challenge right now?”
Whilst it is critically important to know and recognise your greatest strengths and challenges. It is also fundamental to your business success that you recognise the strengths and challenges of the ‘Business’, as it is the business that you are endeavouring to grow and succeed.
When the chips are down you are under enormous pressure, it is commonplace for this pressure to be seriously connected to emotion and relationships. For survival you must learn very rapidly how to differentiate between personal feelings and the cold calculation that determines your ‘Business’ success.
The Five P’s Formula
It’s a certainty that the answers to the above two questions will inevitably fall into one or more of the five fundamental principles for business success. Purpose, Procedures, Promote, People and Profit.
However the answer to question number two, i.e. “What Is Your Greatest Challenge Right Now?” may not appear to be so obvious and that is because the small business owner has not been trained or previously managed his or her own business. The chances are that the business owner has a background as (a) a Sales Person, (b) a Technician, (c) Inventor, (d) Administrator or (e) an Accountant.
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Because of the current business owners background, the chances are that “Their Greatest Challenge Right Now” will fall into a category outside of his or hers traditional area of expertise. Due to a lack of knowledge and experience, the small business owner will decide to focus on their primary area of expertise in order to stay in their comfort zone. Whilst this may well be desirable, it may not be the company’s greatest challenge
The reality is that identifying “The Greatest Challenge” may not be as simple as it sounds, because every small business has a number of challenges at any one time. For example, the Bank has refused to extend your credit limit, your Shareholders need to be more understanding, your Customers are slow in paying, Sales are not as good as they need to be, your Suppliers need to be more reasonable and some of your Staff are not performing as well as you would hope.
The successful business owner recognises all these challenges at once, but also
manages to focus on the one particular issue, possibly the most unattractive subject, that will have a profound effect and the greatest impact on the success of their business. They will take action today what they would much prefer leave until tomorrow or for someone else.
The unsuccessful business owner, who may well be doomed for failure, remains in his or her comfort zone and focuses on what he or she is best at. This type of business owner can make perfect, one area of the business, at a cost to the whole business.
As a real life example, we had a client who had an accounting and analytical mind and was convinced that his customers reasons for doing business with him were based on price alone. A review and survey with these same customers revealed a surprising answer to the simple question, “What Is Your Greatest Reason For Doing Business With Us?”. The answer was “ Your Reliability!” and was not based on price as previously thought.
As a small business coaching specialist, we can help you to identify “Your Greatest Challenge Right Now“ and provide you with the skills to “Do What Needs To Be Done, Not What You Prefer To Do”. So, why not Contact Us Today and let us show you how you can build a stronger and more profitable business. Our coaching, mentoring and personal development services are available throughout Lincoln, Cambridge, Peterborough, Northampton, Leicester and all surrounding areas.
Your may also be interested in viewing our How To Develop Your Sales Techniques page.