Can A Business Coach Make You an Extra $50,000 a Month?

Business Coach

Business coaches are prized mainly for their business acumen. You can always count on them to give you sound third party advice when faced with tough decisions, something which can only be acquired after many years of building both successful and not-so-successful businesses. But that’s exactly why we turn to them.

A lot of business startups lack the knowledge and experience that a business coach can bring. Inexperienced business owners often come up with great business ideas, but have a difficult time executing them. This happens more often than not, even among well-established companies.

Every business owner makes bad business decisions. In fact, if they’re being honest, they’ll be the first ones to tell you to get a good business coach as early as possible so you won’t have to make the same mistakes.

Some of the world’s industry leaders who had business coaching include Bill Gates, Steve Jobs, and former CEO of Google, Eric Schimdt. If these titans of industry find a business coach helps them make better business decisions, then what are you doing without one?

Your Business Coach Knows Where You’re Headed for

Seasoned business coaches almost have like a “sixth sense” when it comes to business. They can tell whether your idea will turn to gold or a failure waiting to happen. It’s not intuition, but a well-founded response based on experience, facts, trends, probabilities, customer psychology, among many other things.

Your initial conversation with your business coach is mostly about listening to you, taking in as much information as possible about you and your business. He or she will dissect your strategies, identify strengths, opportunities, and expose potential threats and vulnerabilities. He’ll ask some important questions and piece together crucial information to get the whole picture.

By then, he’ll be able to provide you with an accurate appraisal of your business. In most cases it can be one of two things – you’re on your way to the top or to the bottom. You’re either winning or losing to your competitors. Or, it could be you’re heading for a slowdown and you’ll have to look for better options such as downsizing or using automation. Sometimes it’s more about organizational matters such as dealing with your staff and employees.

Whatever it is, have an open mind and don’t let pride cloud your judgment. Remember, business coaches are more concerned with helping your business than trying to boost your ego.

Your Business Coach Provides Personalized Guidance

Books and online courses are great when it comes to learning the basics of starting and growing your own business. In fact, we have our own book, Small Business Profitability Secrets, which we highly recommend you get one. However, most books and online courses have limitations. They often deal with much broader issues common to all businesses and offer little help at solving specific problems for your specific kind of business.

Another problem is that these kinds of information tend to date rather quickly. Our markets and industries are dynamic, and technologies are changing at breakneck speed. What worked 3 to 5 years ago may no longer be as effective today and we need to adapt our strategies and our message to the here and now.

One of the best ways to get around this problem is to get personalized guidance from a business coach. Think of your business as your own body. When something goes wrong, your doctor will check on your medical history, allergies, and so on. You’ll go through several tests before your doctor writes his prescription, and follows up on you to see your progress.

Your business is unique in some ways. You can be a restaurant like a thousand others, but you have a different customer base, a different location, different competitors, demographics, economic conditions and so on. Your restaurant may not have the same set of standards as it is in Canada, Japan, Australia, or the Philippines. How do people learn about new businesses in your country? Do people search the internet or spend most of their time on Facebook or YouTube?

Your business coach will have to learn everything first about your business before taking a step further. This is very different from just looking for information over the web to get quick fixes or some vague, oversimplified solutions that doesn’t fit your business. But that doesn’t mean you can’t do your own research. There are thousands of valuable resources on the internet that provide great ideas for business, but ultimately, you need a business coach to help you in those crucial decision-making aspects of your business.

Having a Business Coach Could Be the Best Investment You’ll Ever Make

If you factor in the number of years it would take you to find the right mix and how much money you’d spend over the course of time playing “pin the tail on the donkey” with your business, and compare that with how much you’d spend for a good business coach, you’ll be amazed at how much you’re going to save in both time and money by having a business coach in your company.

Having a business coach cuts the amount of time and money spent learning everything on how to do your business right. It’s the same reason we hire coaches in sports, finance, or even self-improvement. It expedites the whole process, allowing you to reach your goals much sooner with the least amount of money and effort.

But more than that, we hire good coaches because we want to win in life – our businesses, careers, and our relationships with other people. Having a business coach is like standing on the shoulders of giants, enabling us to see further than we would otherwise see by ourselves.

So yes, definitely find a good business coach. What’s a good business coach? How does a small business profitability expert with over 20 years of experience and has helped launch more than 700 companies worldwide having a total turnover of $1.4 billion in revenue sounds to you?

Final Thoughts

By now, you might be thinking where to find a good business coach to help you grow your business like you’ve never thought possible. Would you be happy if we tell you we’re offering a 45-minute call where we connect you with our small business profitability experts at no cost to you?

We’ll identify all ways to increase your sales and profits and leave you with a step-by-step plan with details on how to implement and the tools you can use to accomplish each task. Visit us at Smallbizdream.com and take a closer look at our 5-step Rapid Sales Growth Blueprint today.

How to Network Like a Boss

Do you go to networking events? If you’re a business owner, then you definitely should be. There was this really great article about how the higher up somebody is in an organization, the less likely he feels that going to a networking event is kind of a “dirty” thing.

I know some people aren’t comfortable with networking events. It makes them feel “dirty” and they’re doing something wrong because most people are doing them wrong. The idea of a networking event is to make friends. You think to yourself “Oh my god! Build relationships. Sounds hard.” And you don’t just go over and vomit all over people. You go to form relationships.

You are obviously looking to steer the conversation in a way to see if they might be a potential client, but you need people to know, like, and trust you before they will become a client.

When I go to a networking event I break down people into a couple of categories, depending on who that person is. The categories are usually potential friend, potential client, potential employee, and potential partner. But just because someone starts out as a friend doesn’t mean that they can’t become a client or a partner later on. Your relationship may change. Or Maybe you’ll just remain really good golf buddies.

Whoever they are, you should put them into an automation follow up series for personal contact, so that I’m still interacting with them, even if I haven’t actually gone to the point of figuring out where they might fit into my business or where I might fit into theirs.

Then I go after sort of a couple of categories in with my business. They might be interested in a free trial of my software. They might be interested in becoming a re-seller. They might be interested in becoming a consultant. And all of this is done in a carefully crafted conversation.

You go into a networking function armed with your conversation that you practiced and rehearsed. You’ve seen how people react to things in their face when you talk to them. You see it in their eyes, and you hone that. You get to the point where you’re a broken record because broken records work. And then you can get better.

This is practicing the kick 10,000 times instead of a new kick every time. I’ve worked through a million iterations. If you want to network like a boss you do it by going to four or five events a week. Not four or five a year. Not four or five a month. Go to four or five a week, and within three weeks you will have honed your skills. You will have sucked in front of a whole bunch of people.

And then the neat part is everyone gets nervous, especially the first few times. “Oh yeah, but what if I see the guy again and he knows I sucked?” Guess what I found happened? They overhear you at another event and they’ll come up to you and say, “Damn you’ve gotten so much better than the first day I met you!”

Everyone’s there in the same game. We’re all trying to improve our skills. We’re all trying to squeak out a living. We’re all trying to enjoy the surf, the sun, and whatever. Somehow we just got to get people to stop sweating the details.

If you’re out there generating prospects and leads stop sweating the details. Go with the idea that you’ve maybe helped some people. Go with the idea that maybe at the networking event you can point some people to some helpful resources. Or you can introduce them to someone else you know that might make a good relationship or maybe you can introduce them to a free trail of a couple of tools that you found.

Go there with the idea that you’re going to go to this networking event, and you’re going to help a few people with problems in their business. If that turns into a sale, then great. Don’t be selfish and only try to help people with problems your product sells. Just help people. For example someone’s struggling with taking a picture with their cell phone. “Hey, something I can help you with?”

I love networking events for that reason. It’s incredibly fast to rapidly iterate. The business prospects are all there. You’re not going to close a business prospect the first time you meet them at a networking event, so stop trying and you’ll have way more fun.

You need to build a relationship and have that conversation. They need to see you a couple of times to build trust. You show up to a networking event once and you go, “Well that didn’t work.” That’s not how networking works. You need to practice.

There’s always going to be ways you can improve. And if you do fail, then of course you know there’s lots of ways you can reframe that. You should practice thinking your identity and your role as separate. So you can think: “they’re not rejecting me. They’re rejecting my role.”

You know so many times people attach their role and identity together, and they find themselves feeling hurt, rejected and devalued. I knew a man who worked his entire life and he eventually retired. He was a fit healthy guy when he retired and he died five years later because he actually attached his role as business owner and mayor of a town to his identity. And it happens a lot. You know people lose their job and throw themselves out of a window.

Often when you go into these networking events you ask yourself, “Who am I today? How do I represent myself and be okay?” And if you just take an attitude of service, I’ve had some clients with you know earth-shaking reputations and huge client lists, and I’ve sort of worked myself up a little bit. “Well, how am I going to sell this person?”

Related: How to Overcome Stumbling Blocks to Successful Networking

Take a moment to go, “Hang on. If I go in with an attitude of service I can ask better questions.” I can understand their business, pain, and issues better than if I gone in to try to sell something. Then you ask them what’s the result they’d like out of the meeting to be. They tell me. And guess what I deliver in my proposal? I’ve delivered what they told me they want delivered. Amazingly enough, I got the business.

I went to a networking event the other night and it’s put on by one of the larger cell phone providers. I went to one of their events and was a free event and it was fantastic. It blew my mind. It was a catered, wonderful event, and it was free so I naturally wanted to get more involved.

I saw another one of their events come up so I’m like, “Well, I’ll go. I could eat. Right?” I went there with my bucket full of bunker rings, which are my phone rings as my little giveaway. I actually went there because this mobile company called Rogers has just started this whole campaign to try to help small businesses. And, of course, that’s what we do. So I went there because there was a speaker being flown in from Toronto to Vancouver.

This guy was flown in from Toronto to talk about what I talk about, so I’m like, “Hang on. I got to go meet some of these people and maybe if I get lucky I’ll be able to steer the conversation to where I can be a bit of a public speaker and get flown around Canada; helping them out and getting my message out.”

And then it was a really hot day and I normally go to these things in a suit because I believe to always be dressed at the same or one higher than anyone you’re meeting with, and I dialed it back to a polo shirt and dress slacks. When I got there everyone was at my level or a step below, so I was like, “Well, thank god I didn’t show up in a suit.” I mean I would have looked better than the speaker. That’s not cool.

I pulled out my bunker rings and I start talking to this nice Russian lady who was also looking at helping businesses, and she worked for some business consultant. I gave her a bunker ring. And then I’m giving out bunker rings and people are getting them and they’re actually sticking them on their phones, and then this other lady comes over and she says, “You’re going to be embarrassed for me when I show you what I have.” And she holds up her phone in her hand through this strap thing that’s attached to her case. She says, “I want one of those for forever.”

I said, “Well, I’ll tell you what: You let me take a picture of you with that one, and then we’re going to put mine on yours and we’re going to take another picture. As long as you’ll let me put that on Twitter and use it in my social media stuff, I’ll give you one. Heck, I’ll give you two.”

But it turns out that she was flown in from Toronto. Her sole purpose was to find energetic people who know what they’re talking about to join them in speaking across Canada.

All because I went there to give out some bunker rings, make some friends, and eat some food. And I helped this Russian lady with some of her problems in front of this other lady who’s overhearing it, and suddenly she got my bunker ring. I give them to all the other executives that were in from Toronto. One guy walked away with three; apparently he had a wife and a girlfriend.

I didn’t go there and ask who’s in the charge. Source them out. I would’ve if it wouldn’t have developed naturally. Make no mistake about it, I would have worked the room until I found who I need to talk to. But by just being me, going there, helping people, giving away my little gizmos in a polite and respectful way that didn’t interrupt their event. That’s how you network like a boss. Go there to help. Go there to serve.

I not only made some great contacts but I managed to get some speaking gigs out of it too. I’ve got the local guy wanting me to do a bunch of events that weren’t as formal as that one. Then the other lady she’s like, “Look, you’ve got to take my number. You’ve got to take my email. You have to follow up. We need people like you.” So I’ve started that process and I have no doubt that once I set my mind to it it’ll happen.

 

How to Overcome Stumbling Blocks to Successful Networking

The ability to connect with people is essential to the success of your business. Professional networking events can present you with opportunities to interact with others in business on a personal level, and this can develop profitable relationships. These occasions are critical for anyone who wants to grow a business or promote a career.

Many people are simply not comfortable walking into a room full of strangers and starting up a conversation, but there are some simple ways to get around that fear.

Stumbling Blocks to Successful Networking

Related: How to Network Like a Boss

Here are five common stumbling blocks to successful networking, and some ways to help you overcome them.

1. Reluctance to talk to strangers

We’re all taught at an early age not to talk to strangers because “It’s just not safe.” In certain situations, this is still good advice. In business, however, talking to strangers is the best way to generate interest and support for your products and services. If you only talk to the people that you already know, you’ll definitely miss out on opportunities to make new connections and establish valuable contacts.

To get past your fear of talking to strangers, set a goal for yourself before you attend any networking event. Decide how many new contacts you want to make, or how many “strangers” you want to meet. In some cases, you could even make a list of people that you’d like to meet.

Next, think of some icebreakers or conversation starters. Prepare questions that you can ask anyone you meet at the event. You might want to ask about other people’s business, their connection to the sponsoring organization or their opinion of the venue.

2. Lack of a formal introduction

It’s a whole lot easier to make a new contact when there’s someone else to handle the introduction and pave the way for you. If you wait for another person to make that move, you might not meet anyone. At networking events, the goal is to meet as many new people as possible.

This is the time to take the bull by the horns, walk up to people you don’t know, introduce yourself and start a conversation! You can easily do this if you’ve prepared your ‘self-introduction’ in advance.

You shouldn’t introduce yourself the same way to every person. Maybe it’s your first time attending an association meeting. In that case, you might want to say that as part of your introduction. Let people know who you are, why you are there and give them a reason to ask more about you.

3. Fear of being seen as ‘pushy’

Maybe you think you’ll turn people off if you’re assertive, and that if they want to talk to you, they’ll make the first move. If this is your line of thinking you’ll very likely find yourself spending a lot of time alone at the reception or meeting function and leave without a single new connection. Being open, friendly and interested does not turn people off.

You won’t come across as overly aggressive if you seek out the “approachable” people. These are the ones who are standing alone or who are speaking in groups of three or more. Two people talking to each other are not approachable because they may be having a private conversation and you could very well be interrupting.

4. Thinking that other people may not like you

There is always the risk that the other person is not interested in you and doesn’t want to meet or talk to you. It happens. If that is the case, don’t take it personally. Nothing ventured is nothing gained. When you get a cold shoulder, smile, move on and say to yourself, “Next?”

5. Having your intentions misunderstood

Approaching someone of the opposite sex to begin a conversation can seem more like flirting than networking. This is more of an issue for women than it is for men. Women have an equal place in the work environment and need to make professional connections just like men do. Women in business can no longer afford to hold back when there is an opportunity to meet new people.

Neither men nor women will have their motives misinterpreted if they present themselves professionally and if they keep the conversation focused on business issues or topics that are not personal or private.

Whatever your stumbling blocks, face them before the next networking event and devise a personal plan for getting past them. Once you do, you connect with confidence and courtesy on every occasion and the results will definitely be reflected in your bottom line.

Why You’re Screwed If You Work A Job

There has never been a better time to start your own business. In fact, in the next decade, being an entrepreneur will bring more security than being an employee. We are in the middle of a great entrepreneurial boom with the number of entrepreneurs in the United States and Canada rising slowly in the 20th century.

For example, baby boomers, age 50 and above, have started an average of 3.5 companies but with millennials that figure more than doubles at 7.7 companies. This is an incredible stat that’s only going to increase to unprecedented levels in the near future.

While running your own business may not be your dream, if you’ve ever considered it, hopefully this blog article will help you take the next step. Because there are no more cushy jobs anymore. No more pensions. I guarantee if you don’t start your own business, you’ll be left behind.

It’s great to be your own boss. You don’t have some higher power telling you what to do. Your future is in your own hands, and not at the whim of somebody else.

The internet and online shopping is becoming more popular – and isn’t even close to being at its peak yet. In the not too distant future, most purchases will be online, and shopping malls will be a thing of the past. People, especially non-entrepreneurs are going to have to move with the shifting times. Many people will lose their jobs, and forced into entrepreneurial roles.

Today, you can start your own online business for very little capital, unlike a couple of decades ago when you needed huge amounts of money to open a storefront, and to market yourself, and to hire employees. Now you just need an internet connection and you can sell to anybody and hire anybody.

Small business is growing more rapidly than ever before and it’s only going to become a bigger part of the overall economy. Conglomerate will still have their place but as soon as small business realize their power and band together, the better.

During the 2008 recession, many people were laid off or fired and as a result they became entrepreneurs. Getting downsized became a jumping off point for those who always had dreams of doing something different.

A lot of companies don’t want employees any more, especially those started by millennials. They don’t have to pay benefits. They don’t have to worry about slow markets. It has gotten a lot easier to just hire consultants and freelancers. Just look online where jobs and job sites are in abundance. Hiring a freelancer is only a click away. And why wouldn’t companies do that instead of invest in training and managing them?

Businesses are also being coming more automated than ever before. For example, you can order your Starbucks beverage through your mobile phone and pick it up at the counter, eliminating the need for cashiers. Low skilled jobs are you getting get fewer and fewer as it is becoming easier to automate more systems.

And soon robots and computer programs will be taking over for people. Robots don’t need lunch breaks or vacations and they don’t need feeding. They won’t quit and moved to another job that is higher paid self-driving cars will soon eliminate the need for drivers.

Young people are seeing the necessity of being a small business owner in this rapidly changing world’s. Hopefully else will see it as well.