Having a successful business is very, very different than having a fully successful business.
A successful business is closer to having a job: you have to be there everyday, you work over 40 hours a week, you are stressed about cash-flow, and you have to wear five different hats to make it work, and you serve your business.
A fully successful business is truly being a business owner: you can show-up and work whenever you desire, it grows even when you’re not present, it produces more profits than you need, and it serves you and your family.
A fully successful business might sound like it’s impossible to attain but it’s not. Here are a few steps to making it happen.
1st step: Decide you want a fully successful business more than anything.
Don’t negotiate with your mind!
2nd step: Start building a system for everything.
Save Yourself Stress Time Energy Money
3rd Step: Start measuring everything.
You can’t improve what you don’t measure.
4th Step: Sell. Sell. Sell.
Nothing happens without the sale. Nothing!
5th Step: Hire the best people you can afford to work for you.
You hire mediocre you get mediocre.
The Significance Of Business Coaching
Business coaching is integral to the success of a company. Not every company can aim at a billion dollar initial public offering. Most companies would have a tough time during their startup phase and even after they have had a smooth sailing, untoward events and unforeseen challenges will apply the brakes on growth and profit. There are times when anyone needs a bit of a push, at times through motivation and at times through coaching. That is exactly what business coaching attempts to accomplish.
An entrepreneur, a manager or any employee is expected to be deft at a specific job or in a certain niche. It is quite unlikely for an entrepreneur to be the greatest coding mind in the world and also to be the best manager or coordinator or an outright efficient business administrator. An employee or manager may be amazingly effective at the job they do but they may lack skills when it comes to public relations or they may have certain shortcomings when it comes to farsighted planning and execution of various complicated modus operandi.
At times, it is the simple reality of pursuing a certain goal with the right conviction that entrepreneurs, managers, employees and small business owners struggle to attain.
Business coaching isn’t new. From the likes of Warren Buffet to Richard Branson, they have all endorsed it for years. All major companies, from IBM to Volkswagen, invest in business coaching and spend tens of thousands of dollars every year just to provide the fillip that their business managers need.
There is no reason why a small business owner shouldn’t invest in business coaching. It is more important for a small business owner because she or he is mostly alone, taking charge of more than one department and having no one to get some advice while taking a decision. Large companies have at least half a dozen brilliant minds working on a particular problem and then taking a collective decision. That luxury is nonexistent in a small business. Thus, it is through business coaching that a small business owner can hone her or his skills and become a better entrepreneur.
It doesn’t matter what one does. It could be sports or singing, acting or writing, sales or advertising, running a restaurant or operating a hedge fund, business coaching helps one and all.