What Troubles You Now?
"Insanity is doing the same thing over and over again and expecting different results" – Albert Einstein
No matter how long you’ve been in business – be it a day or ten years – there will always be times where you find yourself faced with a persistent challenge that you simply can’t overcome.
This is what coaching is for: to work with you on your challenges, question possibilities and challenge assumptions and the status quo. However, oftentimes, when we are stuck, we don’t see a possible solution because we remain too focussed on the problem right in front of us.
Which of these can you relate to?
Like it or not, everything is sales, and if you’re not selling, we need to determine why. Don’t fall into the trap of being open for business but not letting your prospective customers know. To get customers we need to create a strong message for you and get it out into the world in a variety of ways, consistently and persistently. You are the best advertisement for your business, and if people don’t know who you are or what you stand for, they’re simply not going to be buying from you.
The global health pandemic, climate change, and a war in Europe are all contributing to increased scarcity within the economy and prices are rising at unprecedented rates because of it. Businesses have already started to buckle and close because of this. Leaving things unchecked and hoping for the best is not the solution. Keeping costs down may be prudent but if that then causes a reduction in service or standards, there will naturally be a consequence of this action that must be factored in too. Cut back on nice-to-have costs but my recommendation here is to focus more energy on creating new business to compensate for the reduction in turnover.
Rising interest rates, supply chain challenges, higher energy costs, and workforce issues are just some of the many major issues facing businesses today. Problems that arise from the external environment like these are more difficult to resolve, and when they are compounded together over time, it is little wonder that things begin to buckle under stress. Fortunately, there is a solution, and a good solution is to have someone emotionally separated from the outcome of the situation involved in the process. When we are very close to something such as our own business, built from scratch, we can find our decision-making becomes conflicted by our own internal dialogue. Having a trained and qualified business coach on-hand to talk things through and test possible outcomes brings relief, clarity, and the opportunity for making better decisions right away, leading to increased efficiency, productivity, and results.
You can, you just don’t know how yet. Most people start a business because they are good at what they do. Unfortunately, this tends to also mean that there is knowledge and skill missing in relation to creating and sustaining business success. In other words, they don’t know how to run a business, and why would they unless they are in the business of creating and running successful businesses – like a Business Coach or Consultant. There have been lots of studies on the effectiveness of business coaching and so we know that by engaging with one you are likely to increase your profit margins by 46%, on average. Would that be a good starting point for growth in your business? What if that was the growth you experienced every year? To create more profits, we may need to increase productivity, quality, relationships, customer experience, and overall organisational strength, but these are exactly the kinds of things a great business coach or consultant will help you with.
If you know where you are and you know where you want to be, all we need to do is work backwards from your end goal and create for you a credible plan with support that will get you out of the quagmire that you’re in and on track for creating the secure and sustainable business growth that leads you to your end goals. It’s not fair to expect you to know how to achieve your goals because that’s the role of an expert business coach or consultant. Just as you might engage a financial advisor to help you with your investments, an architect to design a new home, or a personal trainer to get you looking and feeling your very best, it’s the role of a business coach to help you answer the question of ‘how’ when it comes to achieving your company ambitions.
This will all depend on how you view failure. If you consider failure to be the very end of something, then this surely is a loss. But failure doesn’t have to be the end. It’s unrealistic to think that our initial business ideas will be successful. We need experience and knowledge to help us improve our decision-making processes, and failure can be an excellent teacher when we take the time to reflect on what we did, what worked, and what didn’t. That way we can strive for continuous improvement, and by adopting this approach the only real failure comes if we stop, so treat failure as a passing point instead of an end point and you’re already on the way to turning failure into success.