Business owners face numerous challenges every single day:
- Employee problems
- Low sales
- Stock issues
These are just some of the common problems you might find yourself staring down any given day. No doubt each of these is important in their own way.
However, they’re only part of the picture – focusing solely on these is a huge oversight that I find holds many business owners back.
In my opinion, these are just the symptoms of deeper problems within your business. And it’s impossible to address theme without tackling the root causes head-on.
As a Melbourne business coach with years of coaching different under my belt, I can say that many business owners suffer from these relatively common business problems:
“I don’t make enough money”
Many business owners would agree with me when I say if your business is not giving you the lifestyle you want, then there’s something wrong.
Not making enough money is a problem that pretty much all business owners can relate to on some level.
Some business owners wake up one morning to find that they are deeply in debt. You might have skyrocketing expenses. Others might find themselves close to bankruptcy.
The funny thing about this is that many don’t even know how they got themselves into that situation in the first place!
That’s where a business mentor comes in.
Take myself, for instance: I got my start in the auto industry, where I was in charge of designing systems and processes to keep Aussie companies competitive with overseas manufacturers.
And although Aussie car manufacturing didn’t survive in the long-run, I did learn a thing or two about turning faltering businesses into successful, profitable ones!
Your business shouldn’t feel like work!
Has the love you have for your business slowly died down? Don’t know how to keep the passion burning?
If so, you’re not alone.
Confucius once said that if you choose a job you love, you’ll never work a day in your life.
Not everyone is that lucky. And even the people who are working their dream jobs have moments of doubt. Years of running your business (be it for 5 or even 20), in the same industry and doing the same routine each and every day… it’s enough to make anyone’s eyes glaze over!
It’s not uncommon to find yourself feeling stuck to where you are and falling out of love with your business and losing sight of your dreams and aspirations.
When this happens, I find the most effective way of rekindling the fire is to have goals and a plan.
One of the most common reasons for losing interest is when you have something to work towards. Goals are anathema to routine and drudgery.
Just to be clear, I’m not talking about business goals… I’m talking about your life goals!
Franchising a new store is an ambitious goal, but that’s not what gets you up in the morning. No, for most of us it’s the prospect of an early retirement or working towards that second honeymoon!
As a business owner coach, I believe you should always be asking yourself:
- Where you are right now
- Where you want to go
- How we’re going to get you there
You don’t have to indulge your feelings of helpless when it comes to your business. If you ever feel lost, ask yourself what it is you want from your life and start thinking of your business as the catalyst for that change.
On a related note…
Your work =/= your LIFE
Working insanely long hours with nothing to show for it?
Working hard and working smart are two different things.
The occasional all-nighter is pretty much unavoidable as a business owner. But when that’s pretty much every single evening, something’s very, very wrong!
Making time for your relationships is essential in maintaining a positive work-life balance. Overwork makes you prone to physical, emotional and psychological burnout.
You need to establish boundaries between your work and personal life. As a business mentor, I believe even the most successful business means nothing if you don’t have time to enjoy the results!
“I have a great product or service… but no sales!”
You know that you produce and deliver an excellent product and service. But for some reason, you can’t seem to land those crucial sales.
If you can’t get ahead with your competitors and the bad news is, your sales have been at the same level for the past year. You’ve done your best to troubleshoot the problem but it seems like the results are still the same.
Do you relate to this dilemma?
Then maybe you need help from an experienced business coach!
For the vast majority of businesses, it’s never just one thing that’s behind a lack in sales. It could be a combination of a whole bunch of factors, from the operational level to fundamental problems:
- Poor marketing strategies
- Your approach towards landing sales is wrong
- You’re targeting the wrong customers
- Is your core value properly defined?
- Is your industry a dying one?
- You might even be in the wrong business entirely!
These are just some of the reasons I’ve seen behind a lack of sales. Take a hard look at your business – you might be suffering from one of them too!
Where will my business go?
Any business owner would agree that a business plan should have clear direction, objectives and plans in order to reach specific targets and outcomes.
I know I said that goals and targets are essential. But even the most exciting goal is meaningless without a plan for getting there!
This is one area that some business owners overlook in their excitement about that holiday overseas or early retirement.
The result? Many forget that they need plans, intermediate goals, timeframes, systems and processes to achieve their ultimate goals.
Think of it this way: you’re on a road trip from Melbourne to Sydney. How are you supposed to get there without a map and a route planned out?
Can relate to these common business problems?
No matter what situation you are currently facing in your business today, be assured that YOU are not alone – call a Melbourne business coach for real, practical advice!
Here’s the good news: I don’t do airy-fairy life coach material. I offer real, actionable advice for business owners such as yourself. That means numbers, solid plans and plans that are tailored for your business (and your business alone!)
As a business coach, I specialise in helping you diagnose these problems and figure out the best strategies for your business.
And once we’ve built and put our plan into action, we can move to a business mentor relationship to keep your business on-track.