Research states that small business survival rates are as high as 91 per cent after one year of trading, but after five years just four in ten small businesses will still be trading. ‘A small business can fail for many reasons of course, but poor cash flow remains one of the main cause of problems.’
As a small business owner you need to be ready for anything that comes your way in order to achieve success. Although you may be making steady money you are probably working every waking hour six or seven days a week. When you work out what is left after paying your bills, expenses, it often does not amount to much, in fact if you worked out what you earn on an hourly basis your employees often earn more than you do. The punishing grind never seems to let up.
My guess is you did not go into business for this. Your dream was to dramatically change the quality of your life. You are obviously not afraid of hard work or taking chances but deep down you know something has to change.
You need to know your business like the back of your hand. However there is ALWAYS room for improvement and a successful business should never be afraid to try new things, read new information on articles that may shed light and offer insight into business growth.
Take a moment to sit back, and don’t ever lose grasp of why you went into business in the first place.
SO HOW CAN A SMALL BUSINESS COACH HELP?
You may be the best ever Plumber, Printer, Lawyer or any number of professions, and I am sure you are exceptional in your field. However knowing your Trade/Service inside out will not prepare you for the vast amount of knowledge you will need to run your own business.
If you’re starting up on your own, you’ll need to run everything from serving customers to preparing your accounts, and this is often a tough requirement for anyone.
Some people are born leaders and know precisely what’s required to run a successful business, but most of us are not in that space.
Working harder does not always equal working smarter, in fact it can be completely the opposite with people working fewer hours actually achieving more.
No one is an island you should not be afraid to outsource.
Thinking strategically in your outlook is a rare skill amongst business owners as most people are so focused on the daily operations, and dealing with their customers this often means they are rarely able to sit back and think about the future. Before they know it another year has passed and they have made little real progress.
Communicating effectively with others is a skill that successful business owners possess whether it is with their staff, directors or customers. Your biggest asset to your company is your employees. You may be skilled at gaining (business/contracts) but if you have /or are thinking of hiring staff, you will need to be able to set them goals, motivate them to perform to your standards and also follow all the Associated Employment Laws and Regulations.
Work out a specific goal. It must be explicit and measured out over a given length of time. You MUST have a strong desire to achieve that goal, and you MUST take the positive action to implement it.
Perhaps the most significant headache in running a business is the ability to manage your cash flow. Cash is the lifeblood of any business. Profitable businesses fail and go bust if they run out of money and cannot pay their suppliers or their employees. Supplies soon dry up, they have nothing to sell, and the employees seek alternative employment.
Athletes focus on their goals, they train for hours working on the business of winning. They have the right people around them, who complement their strengths. They do not see it as a sign of weakness getting support. Successful athletes run their training a a business working towards their goals. If you want your business to be the best it can be, a small business coach can help you achieve your goals and help you focus on what you enjoy and are good at.
Together we can work out what it is you want to achieve and how you can get there.
HERE ARE SOME OF THE TOPICS I DISCUSS WITH MY CLIENTS
Where is your business going?
What do you want to achieve?
How are you going to get there?
Find a way to stand out from the rest of the crowd.
Know your target audience and the problems they face with a view to a solution.
Strategy, planning, and problem solving.
Why business plans are so important.?
The golden hour every week to reflect.
How can you get more of the RIGHT type of clients?
Self sabotaging behaviour.
Getting into action.
Building trust with your clients.
Writing a list of your Goals for the next three years
Focusing on clear goals and objectives.
Addressing limiting beliefs.
Getting help with administrative and marketing work.
Outsource the tasks that you do not want to do, that you are not an expert in, or that can take away from your revenue-generating time.
We will look at your strengths and weaknesses. What you want to achieve and the skills you possess to make it happen.
What steps you need to take to achieve your goals and the resources you have available to you.
I have run three successful small businesses over a Twenty Five Year period and I am a registered Trained Coach, so I am coming at this from both angles.
I offer a FREE 45minute Consultation to establish where improvements can be made within your organisation. This consultation also allows both parties to consider the fit and whether we can establish the mutual trust and respect essential for us to work together.
My Fees are £95.00 per hour, with a 10% discount available for block bookings of 6 or more sessions.