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Posts tagged ‘business’

Clarifying the Focus of Your Business

Do you feel stuck, no more passion, can’t get to the next level in your business?

Ask Yourself These Questions:

What Business Are You REALLY In? It’s always more than just the product or service you provide. Give this some thought and find someone with whom you can brainstorm. You will gain many benefits from this process. Also, this will give clarity in helping you decide on specific markets and how to appeal to them.

Why Are You In Your Business? By asking yourself this question, you will get clear on your business purpose and mission.

How Did You Get Into Your Business? Answer this question by grabbing a pen and writing a story. Let your thoughts flow. I think you will be pleasantly surprised with how much insight you will gain.

USEFUL, CLARIFYING QUESTIONS:

Intentions: What is your heart’s desire? Who do you want to be? What is the big picture behind the objective?

Meaningful Objectives: What are your tangible outcomes? What specifically do you want to accomplish? What makes this truly meaningful for you?

Learning Plan: Nearly every new intention or meaningful objective will require that you learn something new. Too often we jump into action with incorrect assumptions that we should know it already. This can lead to frustration. What do you need to learn to accomplish your objectives? What resources do you need?

The Environment: How well does your current environment, associates, family and friends support your objectives? Is your network sufficient to provide all the resources you’ll need? What are the obvious obstacles that will get in the way? What have you been tolerating that will drain your attention from what you need to do?

Your answers to these questions will infuse new energy into your business. You will get clarity and laser focus to create bigger results.

Adaptation

Fall is here with all of the familiar changes… The days are getting shorter, the nights are getting cooler, and there are acorns scattered under the trees. The leaves are falling. Squirrels and other animals are busy storing up food. These are all examples of natural adaptation. The animals and the trees know what they must do to survive and they make these adaptations instinctively. Webster’s dictionary defines adaptation as an adjustment to environmental conditions – modification of an organism – the process of adapting to new conditions.

As humans, we, too, must adapt to changes in our environments. Not all of these adaptations come to us instinctively. Step back and take a look around you at the changes to the environment that make up your world – your physical environment, your business, your finances, your health, recreation, friends and family life. What natural conditions are changing?

Physical Environment: Colder weather, drier skin, cold & flu season, wearing more clothing, staying inside more. You may want to make some changes to the surroundings in your home and office.

Business: Are the needs of your customer changing? Is it time to add or highlight different products, increase new customers, or go after a different market? Is it time to improve some of your skills or to add new ones?

Financial: How and where can you save money? Are you spending too much or too little on food or eating out, clothing, recreation, charity, etc.?

Health: Is it time to change, add or just start to exercise? What type of food and/or supplements do you add to your diet? Are you prepared to stay healthy through the colder months ahead?

Recreation: What do you do for recreation in these months?

Charity: Where do you donate your money, if any? Where do you donate your time (e.g., volunteering)?

How do you adjust to the changes in your environment? First of all, get into your mental helicopter and hover over that time period and capture the awareness of what is changing. Give yourself choices on what and how to make your adaptations and modifications. This will give you a better handle for that time period to add value and quality to your life. If you have a partner in your life, this will provide a lot of good creative conversation. This is being active rather than reactive with your life.

Creating Alliances

The strategic alliance is a joint venture and partnership between two companies or individuals to advance each other’s position. Especially in today’s business environment, it’s quicker and less expensive to gain additional markets and sales. By creating a successful alliance, you and your alliance partner will gain much value in many ways.

Begin by evaluating what products, services, niches, and specialties you offer. Identify your niches which are the market segments your focus on. For example: entrepreneurs, dentists, schools, parents and home owners etc. Identify your specialty, which is a set of skills or proficiencies that can be used across many professions, industries, and niches. A specialty is what you’re good at doing or making or teaching or selling.

Next – identify your target professions, industries, niches, and specialties that you would like to pursue. Now make an “I Wish List.” For example: “I wish my Dental Practice Building Workbooks were standard training for every dental office worker nationwide.” Then you think about individuals and businesses you could create an alliance with that would put your workbook in every dental practice in the country. You could reach out to the Dental Association and offer to speak at their annual meeting, as long as your materials were available at the back of the room. Contact editors of magazines who go to that market and offer to write free articles in exchange for mention of your workbook and your website. Any company that sells products to dental practices, make an offer to their email data base in return for leads you provide for them. The ideas are endless.

You see your “I Wish List” has helped you identify your target, and you are now going full steam ahead. So make an “I Wish List”, get out of the box, get away from “going it alone,” think big, and do brainstorm sessions with your associates. You will be surprised at how many different ways you can create alliances to improve your business for very little or no expense. So . . .just do it!

Family Members Working in the Business

Dear Coach Pete: Our business is growing and as a result I hired my wife, two sons and a daughter-in-law about two years ago. What can I do to reduce the interpersonal tension? It’s causing a lot of problems in our once loving family.—Fred

Dear Fred: This is a challenge shared by many family-owned businesses in varying degrees. If it isn’t nipped in the bud it could cause serious consequence.

A family business can be the most rewarding and enjoyable way to express your talents and create wealth or it can be a nightmare. Here are a some suggestions, keeping in mind that the business and family relationships should be kept separate as much as possible:

  • Get a vision in your mind of how well you are all communicating and handling business decisions when you and your family members are in harmony and synergy with each other.
  • Start creating an environment and process that foster open and proper communication with each other.
  • A good way to start this process is by having a business family meeting for the purpose of brainstorming ideas and solutions. Have a specific agenda, keep it up beat, engage everyone to participate and write down every suggestion without judging them. Occasionally include some of you own to keep the flow going.

Include on your agenda questions such as-Would it be helpful to keep our business and family relationships separate? If so, what could we do to create a process to effectively communicate and make decisions without affecting our family life? How can we be a family and business associates handling the challenges, stress, accomplishments and successes while still growing the love and respect for each other.

You will be surprised how many good suggestions will come out of this, more importantly the synergy that will be created. With that information you will be well on you way to creating a more harmonious culture in your business. If need be, bring in an outside coach to facilitate the process, to dig deeper and offer different perspectives to the issues involved and/or mediate any real sticky issue.

Are You In Business For Your Self?

If you own a business, have a job, are unemployed or retired, and you receive and spend money, the answer is “Absolutely yes.” Why? Because in today’s world your whole life is a business.

If you are an owner of a business: You either bought it or created it to sell products and/or services and you conduct the business assuming full control, responsibility and risk.

If you are employed or contracted by a company: You are responsible for fulfilling the tasks and mission for which you were hired. You are using your skills and talents. Therefore, you assume part of the risk.

If you are unemployed and are seeking employment: You’re in the business of marketing and identifying and selling your skills and talents.

If you are retired: You are responsible for using your skills, talents and interest to create a life of fulfillment based on how you spend your time and money

Your whole life can benefit from applying the principles of operating a successful, productive business. Your life has a beginning and end, just like a business. It goes through various stages as it matures, and you have 24 hours each day to manage and create the life you want. It would be to your benefit to change the way you look at all your relationships. An example is the way you view your employment relationship. Rather than thinking of yourself as being an employee, see yourself as a business person with the perception of, “I am selling my unique skills and talents to the company to fulfill the tasks and mission for which I was hired.” The benefit of this perception is that it will make you stronger. Thinking as a business person, you become more aware of continually improving your skills, talents and interest so that you are always marketable.

When the time comes for you to quit, get laid off or be ‘downsized,’ you then become an entrepreneur to create and build a mechanism to market you, your skills and talents to an employer or to create your own business. The same will hold true when the time comes for you to create a joyful fulfilling transition into semi- or full retirement.

Your whole life, as with a business, has similar categories and tasks, things to plan, create, manage and improve: Career/Business, Money Management, Health, Family, Social Relationships (personal friends/significant other and business associates), Personal and Professional Mastery, and Physical Environment (fun and recreation).

As a business, life and retirement coach, I assist you into breaking free of the barriers and transition into the results you desire. I will guide you in your journey by gaining clarity in your purpose, goals and vision, uncover and identify the obstacles and challenges. I provide processes that will enable you to move through them effectively so that you can create the business and life you desire with passion, prosperity, balance, and fulfillment.

Want to start your own business?

A lot of people are doing it – some out of want and some out of necessity. You may already have your own business now. Even if so, some of this information will be of help.

Question: How do I find the right business for me?

A good starting point is to make a list of your strengths and figure out a way to apply them to a business that interests you. Next, analyze the industry to determine how you could run a similar business better. Now make a list of five to seven things in which you excel, and another list of things you don’t like to do. Then do the same for things you like and dislike about your business life. This will help you discover a business that you will not only enjoy, but at which you will excel.

Once you pull the trigger on starting your business, there are several things that you will need to do yourself, then hire, contract other people, delegate, and/or create alliance partnerships to thrust your business forward. The three main reasons to start a business in order of importance are: (1) Provide a product and/or service; (2) Provide jobs, yours being the first; (3) Make a profit.

Following is a list of your main concerns.

  • Products and/or Services: What are the cutting edge benefits and the quality you strive for in your industry?
  • Sales & Marketing: These are two very different things. Marketing defines and gets your name and what you offer to your target audience. Sales are how you get the cash register to ring.
  • Finances: Monies and an accounting system are needed for startup and through the first year.
  • A Proforma: At least a 12-month projection of gross sales by month and cost associated with the sales, and overhead cost to get your net profit or loss before taxes.
  • Staffing: People to hire, contract with and form alliances/partnerships.
  • Space: To operate your business. It could be your home or rental space.

Starting a business is very rewarding but it can be overwhelming. However, like eating an elephant, you just take one bite at a time. These few bits will get you started and focused on creating your business. Having your own business can be a beautiful thing or a nightmare – so do it right. There are several books that I recommend that could be of help.

I have often been referred to as the “Business Person’s Coach.” This is my specialty. If I can be of any help, please contact me.

All the Best to You!

Pete

What Are Your Gifts To Your Business/Profession For This Year – 2011?

Are you resolving to create an upgraded version of You? This is where it all starts. And, are you ready to develop Improved Habits in the areas of:

  • Your Mental, Physical and Spiritual Health
  • Your Relationships with Friends, Family and beyond
  • Your Management and Creation of Money and Wealth
  • Your Personal Growth, Fun and Recreation
  • Keeping Yourself Organized

Are you ready to elevate your Business/Profession? 2011 is not the end! IT’S THE BEGINNING!

  • Upgrade or create your company Vision.
  • Take an accurate picture of where your business is now and where you want it to be in December 2011.
  • Do you have your strategic plan in place to get there?
  • Do you know the people and actions needed to implement it?
  • Is your niche and customer base clearly defined?
  • Do you know all of the benefits your products or service offer to your customers?
  • Do you have your marketing plan?
  • Are you ready to turn procrastination into pro-action?
  • What do you need to get started and build greater momentum?

It may look like a lot, but this is how you start to create a better you and a better year. Regardless of whether your business is small or large, you should commit this to writing. Imagine the good feeling and improved quality of life that you will experience if you accomplish what you have been putting off.

Our coaching program is designed to champion you and to help you achieve your desire for a strong start in 2011. Let us help you get these programs off the ground. Begin new and healthy habits.