Running a small business is complex and in some ways you have less help. Large businesses engage full time staff to handle the more specialized aspects of business. For example; bookkeeping, financial reporting market research, marketing, business development, office management, communication, can afford to be handled by experts in a large business. Small businesses cannot afford these full time specialists, yet they do require the basic elements of these business aspects. So how can you acquire this expertise for your small business?
I’m speaking to those of you in a small business that you feel you could be doing much better: your competitors are flourishing, the market is strong, but you seem to be spinning your wheels. You have made numerous attempts to alleviate your stagnant business situation and have come to the conclusion you need outside help to salvage your struggling business. Where can you go from here?
I know first hand, I was in business offering architectural services for over 20 years, instinctively knowing that my business could be more successful. One day I looked in the mirror and said to myself “either quit the business or find help to make it work.” I hired a company to help me and proceeded with determination, as I knew this was my last chance to get it right.
To begin with, progress was slow, and the fundamentals of the program did little to impact the business at first. However, once we arrived at the meat of the program, I began to see solutions to my weaknesses. Not long after that I began to see impact on my business. Revenue increased, profits increased, my team was more satisfied, we gave better service to our clients and the crucially, I spent less time at work. I couldn’t believe the impact of the program on my business, on my team and on my life.
With the right coach/mentor and your determination, it will work for you, too.
Since then I have witnessed many small companies struggling, many will not admit their weaknesses in business, some feel the cost of a coach/mentor is too high, and some are just fearful to try something new. On the other hand, some have been willing to transform businesses and are now benefitting form the fruits of their labor, after engaging a coach/mentor. Today they run successful organizations of which they are proud.
There are many companies and individuals who claim to offer services to those wishing to revive their businesses. Without experience, how do you choose the one that is right for you?
The most effective method is getting a referral from someone who has successfully gone through the process of working with a business coach/mentor. If there is no one to give you a referral the following is a list on how to select the business advisor that is right for you.
First you need to find a list of names that offer such a service. On the internet you can search under the following titles:
- business advisor
- business coach
- business mentor
- business development programs
- help for your business
Four crucial fundamentals when searching for help with your business:
1. No matter who you choose, there is no quick fix. There is no “Silver Bullet” to achieve the success which you are looking for.
2. Those who offer “tips” to help you in business are of little help.
3. To find real value, you must search for one that offers a holistic approach. Fixing one aspect of your business will unlikely bring you the success for which you are looking.
4. To find success your coach/mentor will require you to set aside meaningful time and a regular schedule to “work-on-your-business”. You are in school and need to do the work to get results. You will have to put in real timel.
Seven considerations when choosing a coach/mentor:
1. You want someone who offers an all-encompassing program. If the mentor/coach feel you have skills in a certain area of business, it will be acknowledged.
2. Find someone who will translate his skill in term of your business, one who will address your weaknesses and frustrations. The coach/mentor should work with you to develop custom solutions for your business
3. The mentor/coach should break you business down into ‘centers of attention’ to tackle one at a time. Fixing everything at once is unrealistic and overwhelming.
4. Look for a mentor/coach who has done what he talks about, one who has considerable experience in business, not just ‘book’ knowledge.
5. The coach/mentor should have a program outline to follow so you can see a pathway to your potential success.
6. The mentor/coach should be compatible with your style of working and with a schedule that does not conflict with your ongoing business.
7. Thementor/coach is prepared to give you straightforward feed back when the evaluate your progress.
About the cost of a coach/mentor’s services
Think about the thousands of dollars of potential revenue you could earn if you were conducting your business effectively. A coach/mentor can spot potential efficiencies in your business that will save you much more that the cost of a mentor services.
Start your search now for your coach/mentor. The sooner you get started on a program to revive your business, the sooner you will achieve the success of which you dream?
Contact us for an evaluations of you business and how we can help you get out of your business funk.