Tag: success in business

Entrepreneurial Success Insights

7 One-Minute Insights for Success

Posted on by Joan Nowak

As a Ken Blanchard fan, I find his One-Minute series of books are packed with common sense ideas and practical advice for business owners or professionals.  One of my favorites, The One-Minute Entrepreneur, is loaded with success concepts and a lot of one-minute insights.

I thought I would share some pearls of wisdom from this book – along with my take on them. Hopefully, these will provide some light-bulb moments as you plan your own entrepreneurial success.

#1 – A good life is built on strong, solid values such as integrity, love, honesty and purposeful work. I would suggest that the same is true of your business.  When you love what you do and do it with purpose, integrity, and honesty, you build a reputation that attracts quality people – from customers to employees and more.  Be the business others want to be associated with.

#2 – Becoming a successful entrepreneur and having a spouse are not mutually exclusive. Balancing work and family (spouse and children) takes planning and a commitment to both. Things that are important to your business get scheduled so they get done.  Apply the same principle to your family.  Build your business to work FOR you.

#3 – You’ll never achieve more than you think you can. So why not dream big? Don’t let little, safe goals hold you back from achieving more in life and in business.  Take a look at the goals you’ve set for the coming year.  Do they WOW you?  If not, think bigger or better.

#4 – To create a successful business, you must first master the basics. Here are four things that are obvious – but worth mentioning:

  • Sales must exceed expenses. While you need to invest in growth, build overhead expenses as you build customers.
  • Collect your bills. Be reasonable, but don’t be your customers’ banker.
  • Take care of your customers. They are the lifeblood of your business – and they pay the bills.  You work for them!
  • Take care of your people. Nurture them as they are the ones who make it happen. In the eyes of others, they are your company!

#5 – The best management includes day-to-day coaching. It catches your people doing things right and re-directs their efforts when they are off base.  A serving leader helps others win.  Teach,  delegate, inspire, engage and congratulate them.  It’s a recipe for building a winning team – one that serves your customers and helps you achieve your goals.

#6 – Success occurs when opportunity and preparation meet. Coming up with new ideas is rarely a problem for entrepreneurs. Implementing them is another issue. It requires preparation.  What is the goal?  What do you need to do to accomplish it? How do you get it done consistently within the company? Get others engaged and remember, ideas without actions are simply dreams. Results come from doing.

#7 – Take care of your numbers and your numbers will take care of you. While financials may not be your favorite thing, winning in business requires that you understand them. So here are two things to keep in mind.  First,  sales growth is important, but cash flow and profit are the keys to staying in business.  Make sure you put the focus on all three.  Second, little issues become big problems when they are ignored.  It’s not enough to know you have a problem, you need to take the right corrective action to fix it.  If you are not sure how to fix a problem, ask for help.      

Create your own one-minute insights

Form a new habit this year by writing down your own one-minute insights.  Whether you use a notebook or electronic device, capture pearls of wisdom you gain from reading, listening or learning.  Over time, you will have a log of quotes, tips and other information to inspire and remind you to focus on what’s really important to you in business and in life.

New Monthly Article & Business Tools

For new business improvement articles, exclusive tools and insights on entrepreneurship, click here to subscribe to my monthly eNewsletter. When you do, I’ll also send you my free eBook, How to Build Profit Through Leverage.

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7 Signs You Need a Business Coach

Posted on by Joan Nowak

Ever wonder why a business owner would invest in a business coach?  While the answer will vary depending on the owner you ask, it often comes down to three things:  time, money and freedom.  In other words, they want a business that works for them – that provides the income and lifestyle they want – but hit some roadblocks or obstacles along the way.

#1 Challenge for Small Businesses

Many of you are probably thinking, “I need more customers, revenue, time or maybe more profit” – and that is likely true.  We always tend to want more.  Now ask yourself this.  What can or should you do to turn this around?  Again, you could probably come up with a lot of ideas. And there-in lies the problem.

The biggest challenge most small companies face today isn’t coming up with good ideas – it’s implementing them.  Business coaching is the most effective way to bridge the gap between knowing what to do and actually doing it.

7 Reasons You Should Work With a Business Coach      
  1. You are working too many hours and feel “I never have time for myself and my family”. Taking time off or being out of touch is stressful — things don’t work well when you aren’t there. You are ready to work a whole lot less – without sacrificing sales and service.
  2. You’re ready to make a whole lot more profit. Profit is your reward for excellence in entrepreneurship. If you’re not making enough money to justify the effort, risk and investment you’re making in the business, then it’s time to turn that around.
  3. You are ready to build a team of people – from employees and contractors to alliances – who can help you grow the business whether you’re there or not. In other words, you need people supporting your business that are committed to your customers and company’s success.
  4. You need to fall in love with your business again; you feel burned out, bored or maybe sick of your business. Time to get the passion back – to get re-focused and re-energized.
  5. You have ideas and know things need to improve, but are not sure where to start or how to get things done. You need to bring in some expertise and support to help with implementation – to turn ideas into results.
  6. You need someone who can see the forest for the trees, an outsider who isn’t blinded by your industry and too many years in your business. The obvious is not always obvious to you, the business owner.
  7. You need someone to hold you accountable. Knowing someone is in your corner, and on top of you to do what you commit to doing, brings a higher level of motivation and passion that translates into results. Imagine having an accountability partner to encourage and support your goals, teach you new things, push you to new levels and congratulate you on a job well done.

Building a successful, profitable business won’t happen overnight.  A business coach can help you go from where you are to where you want to be – a whole lot faster than you can on your own. With templates, proven systems and a track record of success with small businesses, he/she can save you valuable time and help you avoid common mistakes others make that lead to frustration.

And with the business improvements and increased profit, it’s an investment that pays for itself over and over again!

Ready to Put Your Business on the Path to Success?

Would working with a business coach help you take your business to a whole new level? Then let’s explore the possibilities with a complimentary consultation. It’s a chance to get to know each other, discuss your goals and the obstacles that hold you back. Together we can determine if there is a good fit between your needs and my services.

To learn more or schedule an appointment, call me at (856) 533-2344 or drop me an email Joan@HybridBizAdvisors.com