We recently had a stand at a business Exhibition and while we spoke to business owners all day, there was one question which was asked time and time again. Not using the same words, or expressed in the same way, but the basis of this popular question was:
“What is the magic formula for growing my business?”
The answer to how to grow any business is very easy, but having the bottle and the staying power to put it into action, is where the problem lies for owner managed businesses, so here’s how it should work:
Mindset
Some business owners feel challenged by what they think is a lack of business skills, but is really a self-limiting belief in themselves, especially thinking that the business can’t operate without them working in it as no one can do the job like they do it.
Mindset is all about having the confidence to trust other people to work in your business. Once you realise that this will increase the chances of achieving your desired goals, it does get easier to cope with, and has an added benefit of giving you a much healthier work life balance.
Laurence Duncan says: “A good Business Coach can help with these Mindset issues, coaxing out the hidden business leader; the confident manager and the daring entrepreneur.”
Strategy
Everyone knows that having a strategy is crucial, but not how to write it, or how to put it into action. Mastering your business means turning goals into plans and plans into results.
The famous Author of Financial Management books and articles, Bernard Marr, tells us: “It’s vital to have a solid operational structure in place, to enable every business to deliver on a consistent basis.”
Laurence Duncan says: “Structures and systems will divide the responsibility; leaving time to budget and plan ahead with good financial controls. Growing too quickly without this in place will lead to business distress.”
Systemisation
Try not to view this as the dragon hiding in the cupboard, but as a roadmap that starts with your business goal and then works out how to arrive at it. The best thing about this part, is that once you know how to do it, you can repeat the process for every new goal, every year, or every month, without needing to bring in another Consultant.
Laurence Duncan says: “Let’s be honest, if they tell you how to do it, they put themselves out of a job. That’s how Coaching is different – it’s ALWAYS about giving you the skills, the knowledge and the power to do it for yourself – but using an experienced guide.”
This is the role of a business Coach, keeping you on track, keeping you motivated and keeping your business heading towards those bigger goals – and reaching them!
Why not contact Laurence Duncan ActionCOACH Loughborough to talk about how to achieve your current goals:
