Biz Coach Steve

Author: bizcoachsteve

  • Mastering the art of managing

    Mastering the art of managing

    Twenty-five hundred years ago a new Chinese emperor took the throne of the Middle Kingdom.  He was only 18, so he called upon the court’s wisest advisers.

    “O learned sages.  O venerable counselors,” said the young emperor, “you advised my grandfather the emperor for many years.  What is the single most important advice you can give me now for ruling my kingdom?”

    One adviser replied, “First, you must define the problem.” That advisor was the famous Chinese philosopher Confucius.

    Certainly, sage advice – except most of us don’t have a Confucius to consult.  But we can learn plenty from studying the advice of top CEOs and business leaders.  

    For example, Anne Mulcahy, former Chairman, and CEO of Xerox was asked by Fortune Magazine what was the best advice she had ever received in business.  She said it occurred at a breakfast meeting in Dallas, to which she had invited a group of business leaders.  

    One of them, a plainspoken, self-made, streetwise guy, came up to Mulcahy and said: “When everything gets complicated and you feel overwhelmed, think about it this way.  You gotta do three things.  First, get the cow out of the ditch.  Second, find out how the cow got into the ditch.  Third, make sure you do whatever it takes so the cow doesn’t go into the ditch again.”

    What a great management tip because when you break it down, it covers just about every situation. Here are a few other tips that will help you “define the problem.” 

    • Use the power of your calendar.  As soon as you book an appointment or meeting, choose an appropriate date to prepare for it, and prepare a to-do list for that day.  Allow sufficient time to gather and review all the information and material you might need.  Take time to prepare so you don’t have to waste time in despair!
    • Don’t waste precious time worrying about things over which you have no control. Although taking control of the details and tasks in your life is essential to becoming an effective priority manager, some things occasionally pop up over which you have little or no control.  When that happens, don’t fight it; just do them and get it over with.
    • Manage the function, not the paperwork.  Remember that your job is to manage a specific function within the company, whatever that may be.  There might be a lot of paperwork that goes with the job, but don’t let that distract you from your real responsibility.
    • Get out of your office.  Management By Walking Around (MBWA) does work. You make yourself more approachable. You get information first-hand.  You find out what’s really happening.  The auto pioneer Henry Ford was once asked why he made a habit of visiting his executives when problems arose rather than inviting them to his own office.  “I go to them to save time,” Ford explained, “and besides I’ve found I can leave their office a lot quicker than I can get them to leave mine.”
    • Delegate the easy stuff.  The things you do well are the things to delegate.  Hold on to those that are challenging and difficult.  That is how you will grow. 
    • Don’t get caught up in “looking good.”  Appearances can be deceiving.  Don’t try to act big.  Don’t exclude rank and file employees.  And don’t think you know it all.  Do things in such a way that everyone can see you are honest. 
    • Learn from the mistakes of others.  You can’t live long enough to make them all yourself.
    • Open your ears and close your mouth.  Your associates, your employees, your suppliers, your customers all have something of value in what they have to say.  Listen to the people around you.  You will never learn what it is if you drown them out by talking all the time.  Remember, the only thing that can come out of your mouth is something you already know.  Shut up and learn.
    • Practice what you preach.  To lead, you have to lead by example.  Don’t expect your people to work unpaid overtime if you leave early every day.  Don’t book yourself into a four-star hotel on business trips and expect your employees to stay in the motel off the freeway.

    Tom Peters stated, “If you can’t measure it you can’t manage it.” And Harvey MacKay stated, “When you manage to define the problem, you begin to manage.”

    What are you going to do to master the art of managing?

  • Leverage

    Leverage

    “Give me a lever long enough and a place to stand, and I can move the world,” stated Archimedes, the Greek philosopher.

    What kind of leverage do you have in your business? Getting great terms from your suppliers? Being the market leader in your industry? Producing a product that is used in a very wide range of other products? 

    What are your strengths and abilities that you leverage to achieve more than you thought you could?

    Here are 7 simple forms of leverage that you can develop for yourself taken from Brian Tracy in Focalpoint. These forms of leverage are often available to you for the asking.

    1. Other People’s Knowledge: Take a piece of knowledge and apply it to your situation which can make and an extraordinary difference in your results. It can save you an enormous amount of money, and lots of time. Successful people are constantly looking for any ideas and insights they can use to help them to achieve their goals faster.  So, should you.
    • Other People’s Energy: Highly effective people are always looking for ways to delegate and outsource lower-value activities so that have more time to do the few things that give them the highest payoff. How can you use the energies of other people to help you be more effective and productive?
    • Other People’s Money (OPM): Your ability to borrow and tap into the financial resources of other people can enable you to accomplish extraordinary things that would not be possible if you had to pay from them out of your resources.  You should always be looking for opportunities to borrow and invest money to achieve results well beyond the cost of that money.
    • Other People’s Successes: You can dramatically improve the quality of your results by studying the successes enjoyed by other people and other companies. Successful people usually have paid a high price, in money and emotion, difficulties and disappointment, to achieve their particular goal. Start by studying their success and learn from their experiences. You can often save yourself an enormous amount of time and trouble.
    • Other People’s Failures: Benjamin Franklin once said, “Man can either buy his wisdom or borrow it. By buying it, he pays the full price in personal time and treasure. But by borrowing it, he capitalizes on the lessons learned from the failures of others.” Some of the greatest successes of history came about as the result of carefully studying the failures of other people in the same or similar fields and then learning from them. What or who has failed in your field that you can learn from?
    • Other People’s Ideas: You only need one good idea to start a fortune. The more you read, learn, discuss, and experiment, the more likely it is that you will come across an idea that, combined with your abilities and resources, will make you great success in your field.
    • Other People’s Contacts: Each person you know knows many other people, many of whom can be helpful to you. Whom do you know who could open doors for you or introduce you to the right people? Who do you know who can help you achieve your goals faster?  One introduction to one key person can change the entire direction of your life.

    These 7 forms of leverage will improve your business, free up more time, and change your life for the better.

    How are you going to use one or move of these leverage strategies in your business?

  • What did businesses learn in 2020?

    What did businesses learn in 2020?

    To state that 2020 was unique is quite a statement. The COVID-19 pandemic changed the business environment on so many levels.  The “new normal” will be just that.  Just like many market corrections, redirections, bubbles bursting, government regulations, and many other situations – businesses have endured.  Those that have a solid business foundation built to experience a blip.  Those businesses that are surviving day to day are gone, with many lives damaged in the process. Now, what did you learn for your business to keep surviving in 2021 and beyond?

    Here are just some thoughts that should have been learned in 2020. If you haven’t adjusted, pivoted, changed direction, and so on.  It’s not too late.  Change to survive. 

    Be Flexible: Those businesses that recover the fastest are the ones that are the most flexible and creative. They just need to continue to find ways to stay true to core competencies and deliver their products and services in a new way.

    Hire the best:  No more hiring to just end the hiring process.  The best businesses have known this for years.  Hire based on a worker’s skills, not just academic credentials.  Great employees will help make great companies.

    Don’t give up:  2020 has given business owners many reasons to give up and tested business owners’ resilience and many businesses have closed up. All businesses go through highs and lows. 2020 gave the economy a crotch shot.

    Develop you and your staff: You along with your staff need to continue learning and thinking about how you can invest that new knowledge to be more productive, improve revenue and profits, become more efficient, and develop the system within the business for any new unknown external forces.

    Redefine your marketing: The pandemic shifted selling products from brick and mortar outlets to online and through social media more now than ever before. This will continue. How are you getting through all the noise online?

    Reduce costs: Since many areas of your business have changed, really look at your costs, they have changed as well.  Are you still paying for services that you are not using anymore?

    Access your products/services:  Smart businesses are looking at what products and services make them money.  If you have any products/services that you offer but are not making any money with them, now is the time to eliminate them from your business.

    Invest:  Reducing costs are one thing, but you also need to look at what the businesses need to invest in to grow.  What items, services, products, education do you need to invest in to increase sales?

    Wishing is for birthdays:  The pandemic has altered the business environment quite a bit. Wishing it will go back to the way it was in January of 2020 will not help you or your business.  Many business owners wanted to wait out the pandemic in March.  Sad to say, they are not in business anymore.

    Plan ahead: Entrepreneurs cannot prepare for every event that significantly affects their business.  The best companies, though, put the right people and processes in place to deal with all manners of unforeseen situations. They can pivot fast. This is the difference between struggling to survive and discovering a new business opportunity.

    Give me money: Many businesses needed a well-needed cash infusion to keep the doors open. Venture capital, angel investors are acting like sharks eating those wounded businesses up.  Are you willing to give up ownership or even control to keep the doors open?

    A gift: Many businesses have seen the pandemic as a gift.  How are you viewing it? Those that scaled back, pivoted, found new opportunities, eliminated waste, and doing well. New markets were created.  Businesses can emerge from the crisis stronger than before it.

    Build it up: Innovation depends heavily on research and development, creating a strategic partnership, and interfacing with customers. Get the right talent in your organization.

    Get help: Business owners need a coach, mentor, advisor now more than ever. Do you think your staff could use help as well?  Mentorship is one of the hallmarks of an effective company.  Besides you getting professional assistance, get some for your staff as well.

    Don’t forget about YOU: The pandemic has caused many business owners to stress out, grind harder, work more without results.  You need to find an outlet that will help you keep pushing forward. Find a new exercise regimen, a cooking class, get a mentor-become a mentor.  Take care of yourself.

    Exit plan: Many businesses closed without any exit plan. What is your end goal in your business? Just shutter the doors. Have someone acquire you? Do you merge with another company? Have your kids or relatives overseen the business? Develop an exit plan so you can have an end goal in your business.

    No matter what you learned in 2020, 2021 will have a new business landscape.  Those businesses that have a solid internal foundation, strong agile marketing, great employees and relationships, and have a coach or mentor will forge ahead.

    Tell us what business lessons you have learned in 2020 to make your business stronger.

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    Steve Feld, MBA, Certified Business Coach, Author, provides training and business performance coaching to business owners, professionals, and executives. Steve also speaks to organizations, conducts workshops, and training.  Focusing on lead generation and revenue creation to get growth results for the business.

    Contact Biz Coach Steve today to see how he can assist you to get the results you want in your business, [email protected], or www.bizcoachsteve.com. He is in the business of growing businesses. Need a speaker, contact Steve today.

    #bizcoachstevef #entrepreneur #smallbusiness #business #smallbiz #coaching #businessowner #businesscoach #leadership #marketing #speaking #keynotespeaker #meetingprofs #eventprofs #meetingstoday

  • 16 Empowering Beliefs to Live By Today

    16 Empowering Beliefs to Live By Today

    We all have good days and bad days. It’s how you react to them that makes the real difference. Your experiences are shaped by your thinking. Even obstacles have value when you can see them. You can develop convictions that will help you to feel happier and achieve more, regardless of the situation.

    Consider these simple empowering beliefs that you can start using today to transform your life through the power of positive thinking. They will change your life.

    Empowering Beliefs to Make You Smile

    1. Understand my potential. You can achieve amazing results when you put your mind to it. Feel excited about reaching your true potential.
    2. Count my blessings. List each thing that you have to be grateful for. Remember to include the smaller items, like warm socks or fresh air. Expressing your appreciation reminds you of how rich you are.
    3. Learn from my mistakes. You can make setbacks work for you by focusing on the lessons that they contain. Flubbing one job interview can teach you how to ace the next one.
    4. Find meaning in adversity. Tough times can be the most rewarding phase of your life. Know that you can emerge from any challenge with greater wisdom and courage. Look back at the obstacles you’ve already overcome, and reassure yourself that you can handle what’s ahead.
    5. Embrace change. Accept that life is a series of changes. Focus on the present moment, and prepare yourself to adapt to whatever circumstances come your way.
    6. Dream big. Expand your wish list. Setting demanding but attainable goals give you adventures to look forward to each day.
    7. Practice forgiveness. Lighten your load by clearing away any resentment you’re holding onto from the past. Set reasonable boundaries while you respond with compassion when others disappoint you. Pardon yourself too.
    8. Give generously. Sharing your blessings makes you more powerful and joyful. Volunteer in your community and speak kindly to each person you meet today. Buy a coffee for your co-workers or give your receptionist a flower.

    Empowering Beliefs to Make You Strive for More

    1. Take responsibility. You are in charge of your life. Hold yourself accountable for the outcomes you create. Celebrate the fact that you have the power to determine your future.

    2. Apply effort. Figure out your definition of success so you know what is worth working for. Give yourself credit when you’re making progress rather than comparing yourself to others.

    3. Leverage my strengths. You have your strengths that you can draw on. Figure out what you’re good at and what you want to do. Let that knowledge guide your choices.
    4. Listen to feedback. Ask for feedback so you can enhance your performance and show others that you respect their point of view. You grow faster when you gather solid input that you can translate into action.
    5. Ask for help. Expand your capabilities by building a sturdy support network. Carpool with other parents. Divide up household chores with your spouse and children.
    6. Connect with others. Moral support counts too. Surround yourself with loving and encouraging family and friends. Participate actively in your faith community. Join a club with members who share your interest in solar power or badminton.
    7. Recognize opportunities. Stay alert for promising openings. You may meet a new friend while you’re standing in line to buy your morning coffee.
    8. Try new things. Be open to experimentation. Go kayaking one weekend instead of playing tennis. Bake your bread or knit a scarf. You may discover hidden talents.

    An upbeat attitude increases your happiness and productivity. Question your old assumptions so you can replace them with a new sense of certainty about yourself and your future. Adopt empowering beliefs that build up your confidence and prepare you for greater success. Start today. You’ll be glad you did!

  • 4 Simple Things Entrepreneurs Needs to Do

    4 Simple Things Entrepreneurs Needs to Do

    The holidays are almost over. Many business owners have either taken it easy during the holiday season while their competitor has been busy growing their business. Both entrepreneurs need to get ready for the New year and formulate new fresh, smart, and effective ideas that will grow your organization. No matter what size your business is, B2B or B2C, industry, city, state, brick, and mortar or online – here are 4 simple items you need to get the New Year off to a great start and set yourself up for success throughout the year.

    1) Develop a 100-Day Plan:

    You may have heard new executives, presidents, employees have to create a 100-day plan. The plan consists of achievable short-term goals that outline their vision. Entrepreneurs should also write down their 100-day plan as a simple blueprint to move their company’s productivity and profitability forward. The plan needs to contain the tasks/steps to bring their vision to fruition.  The point is to start the year off strong. Not think about what you are going to do. Create a 100-day plan and execute it.  You can recalibrate if needed.  Don’t forget to celebrate your win if you achieve your plan within 100 days.

    2) Declutter your area:

    Decluttering a workspace can save you time by making the area easier to clean and get started focusing on the tasks at hand. The added benefit of an already pristine work environment is that you’re also more aware of what you have and what you need. You don’t need to buy any duplicates of office supplies, and minimalist-imbued office space can help prevent you from purchasing unnecessary accessories.

    Decluttering even opens up the work area to more space, which is conducive to improved decision-making, contentment, and being more mindful of your work efficiency. 

    I’m not saying you must Feng Shui your office, just clean it up to be more efficient. Just pick a weekend and clean up your office. Pick one area/room and just knock it out. Then another day or time go to the next room or area and clean it up.  You will be amazed at how easy it will be to declutter if you just focus on one area at a time.

    Once your space has been tightened and tidied, implement a cloud-based backup system that allows for fast and convenient recovery of your organization’s electronic files. The decluttering will not only allow your team to operate more efficiently it will also help your office to look more streamlined and professional.

    3. Fire the person you know you have to fire.

    You’ve decluttered your office/business, now it’s time to declutter some staff. Maybe you’ve tried to intervene to help turn things around, or you’ve ignored the problem in hopes that it would eventually take care of itself. However, you’ve handled the challenge of having weak members on your team, you know that they’re there and that they’re dangerous to the health of your company. If you didn’t have the heart to do any purging during the holiday season, delay no longer. The costs to your firm in reduced productivity, low employee morale, additional supervision, damaged client relationships, and lost revenue that is caused by substandard employees can be as high as $190,000 per year, so make a decision now to either remedy a fixable situation — or to clean house.

    4. Raise your prices.

    The first week of the new year is a perfect time to review and possibly raise the prices of your products or services. Too many small business owners try to compete by lowering their prices, and that’s often a mistake. Instead, devise a plan by studying your competitive landscape; looking at your firm’s pricing history; reviewing the calendar to determine the best time to bump up your rate, fees, or prices; and thinking about how you can enhance the value of your offerings to justify price revisions.

    Many companies automatically increase their prices at the beginning of the year without any pushback. This is one of the fastest ways to increase your revenue and profit margin. Many business owners have not increased their prices in years and continually watch their profits shrink. Now is the time – raise your prices.

    Now is the time to prepare for a fantastic next year.  Simple strategies to separate you from your competition. Reenergize your team, plan your marketing, generate new opportunities for innovation and growth.

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    Steve Feld, MBA, Certified Business Coach, Author, provides training and business performance coaching to business owners, professionals, and executives. Steve also speaks to organizations, conducts workshops, and training.  Focusing on lead generation and revenue creation to get growth results for the business.

    Contact Biz Coach Steve today to see how he can assist you to get the results you want in your business, [email protected], or www.bizcoachsteve.com. He is in the business of growing businesses. Need a speaker, contact Steve today.

    #bizcoachstevef #entrepreneur #smallbusiness #business #smallbiz #coaching #businessowner #businesscoach #leadership #marketing #speaking #keynotespeaker #meetingprofs #eventprofs #meetingstoday

  • Support your local businesses

    Support your local businesses

    As you know, small businesses have been hit the hardest by the COVID-19 pandemic. Small businesses could use your help.  I am not against big business, but I am FOR local business.

    Local business owners stimulate the local economy. When you buy from a local business owner, more money stays in your community. They fuel other local businesses. According to Fundera, $68 of every $100 stays in the community. Local First stated that the number could be up to $73 is kept in the local community. This generates local sales tax funds, government services, road maintenance, fire trucks, health services and so much more. 

    There have been numerous studies showing that locally owned businesses provide better customer service.  The main reason is that they are invested in YOU and their community. The owner is your neighbor, and they want you to have a great experience and come back to their business. You will not be calling any 1-800 number to talk to someone, odds are you will meet and talk to the owner if you have anything good or bad to say about their business.

    Many people may not realize that when they shop locally, their dollars are reinvested into the local community. They go to little girls’ ballet lessons, sponsoring local sport little league teams, school fundraisers, and so much more. The funds are not going to a nameless CEO looking to purchase their 5-vacation house.  These local business owners want to see other local businesses thrive as well.

    Having owned brick and mortar businesses, I know local business owners carry a more diverse product. They will carry other local suppliers’ products, where big box stores will not. You can find specialty items as well-those one-of-a-kind items that make your purchase a little more special.

    Your local business owner is an expert in their product or service. They will take the time and answer any questions you may have about their product or service. Provide you that extra care to explain anything you like. They do keep up with trends within their industry.

    You can find these local business owners attending chamber and networking events. Supporting other local events and fundraisers. They have a relationship with other local business owners, bankers, suppliers, and so forth. They can help you in a greater capacity than you know. They create local jobs and help support the local economy.

    So, help those local business owners.  Patronize their establishments. Shop on their websites. Reach out to them for expertise.  According to Small Business Trends, small businesses make up 99% of ALL businesses in the United States.

    Keep those small businesses in business.  Shop locally.

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    Steve Feld, MBA, Certified Business Coach, Author, provides training and business performance coaching to business owners, professionals, and executives. Steve also speaks to organizations, conducts workshops, and training.  Focusing on lead generation and revenue creation to get growth results for the business.

    Contact Biz Coach Steve today to see how he can assist you to get the results you want in your business, [email protected], or www.bizcoachsteve.com. He is in the business of growing businesses. Need a speaker, contact Steve today.

    #bizcoachstevef #entrepreneur #smallbusiness #business #smallbiz #coaching #businessowner #businesscoach #leadership #marketing #speaking #keynotespeaker #meetingprofs #eventprofs #meetingstoday

  • Keep your foot on the gas during the holiday season

    Keep your foot on the gas during the holiday season

    The Holiday Season is upon us and for sales professionals and sales managers this time of year adds special challenges for maintaining focus on sales productivity. 

    The time between Thanksgiving and New Year’s Day is usually filled with shopping, family, and business parties. Many people love the holiday season except for many businesses. During a joyous season, the sales environment can be brutal.

    During the holiday’s salespeople struggle to maintain activity targets while prospects and customers routinely put off decisions until the New Year. The good news is, despite the challenges, you can take control, maintain your focus, and still close deals. The key is in staying true to the fundamentals of selling and maintaining self-discipline combined with a sprinkle of creativity.

    Many business owners operate in an 11th month year. They ride out the holiday season and will start back up in the new year.

    Some businesses operate in a 12-month year.  They keep moving ahead and find lots of challenges with sales during the holiday season.

    Then extraordinarily successful businesses operate in a 13th month year. They put the pedal to the metal. They have a solid strategic plan and are executing it between Thanksgiving and New Year’s will get your next year off to a great start.

    While many businesses are taking their foot off the gas after Thanksgiving and keeping it off until then next year, beat them by pushing harder on the gas and get set up for success in the next year.

    One of the hardest things about selling during the holiday season is getting customers to act on buying decisions. They say they just want to wait until the New Year to make any decisions. To them, it makes logical sense to wait. Far too many salespeople willingly accept this excuse as logical too. However, if you’ve been around selling long enough you know, by the time you get to January, most of these deals will be cold.

    To have any chance of closing these deals you have to strike while the iron is hot. You cannot allow emotions to wane. So, during this time of year, you have to give your prospects and customers a more compelling reason to make a decision now than to wait until later. This means getting creative with your offer, price, value-added services, or signing bonuses. You may have to give up more to get the deal done than during other times of the year. 

    In sales, like it or not, activity is everything. If you are not prospecting, questioning, presenting, and closing you will fail – no matter what time of year it is. Of course with all of the wonderful (and not so wonderful) distractions of the holidays, it can be easy to slack-off, let your self-discipline slip move away from your normal daily routine. 

    This slip has two consequences. In the short-term, it hurts your closing ratio during December. In the long-term, it impacts your sales pipeline during January, February, and March which can have a major impact on your future income.

    To keep this from happening to you, you must sit down with your daily planner right now and ensure that you have your calendar blocked properly for daily prospecting and lead generation, as well as information gathering, presentations, demos, and closing meetings. Take into account all of your holiday activities and build them into your planner. You may have to do some workarounds, but the key here is to get everything planned out in advance. To stay on track set daily activity targets and commit to reviewing those targets each morning and afternoon. You will be amazed at how powerful this planning process is for keeping you on track and focused during the holidays.

    Most importantly, by planning and developing creative ways to close more business, you will find that you feel less stress, cash bigger commission checks, and have plenty of time to enjoy the holidays with the ones you care about the most.

    So, what are you going to do to grow your business during the holiday season?

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    Steve Feld, MBA, Certified Business Coach, Author, provides training and business performance coaching to business owners, professionals, and executives. Steve also speaks to organizations, conducts workshops, and training.  Focusing on lead generation and revenue creation to get growth results for the business.

    Contact Biz Coach Steve today to see how he can assist you to get the results you want in your business, [email protected], or www.bizcoachsteve.com. He is in the business of growing businesses. Need a speaker, contact Steve today.

    #bizcoachstevef #entrepreneur #smallbusiness #business #smallbiz #coaching #businessowner #businesscoach #leadership #marketing #speaking #keynotespeaker #meetingprofs #eventprofs #meetingstoday

  • Obstacles are the stepping-stones of success

    Obstacles are the stepping-stones of success

    A man was walking in the park one day when he came upon a cocoon with a small opening. He sat and watched the butterfly as it struggled to force its body through the little hole for several hours. Then it seemed to stop making any progress. It looked like it had gotten as far as it could, so the man decided to help the butterfly. He used his pocketknife and snipped the remaining bit of the cocoon.

    The butterfly then emerged easily, but something was strange. The butterfly had a swollen body and shriveled wings. The man continued to watch the butterfly because he expected at any moment the wings would enlarge and expand to be able to support the body, which would contract in time. Neither happened. The butterfly spent the rest of its life crawling around with a swollen body and deformed wings. It was never able to fly.

    What the man in his kindness and haste did not understand was that the restricting cocoon and the struggle required for the butterfly to emerge was natural. It was nature’s way of forcing fluid from its body into its wings so that it would be ready for flight once it achieved its freedom. Sometimes struggles are exactly what we need in our lives.

    If we were allowed to go through life without any obstacles, we would be crippled. We would not be as strong as what we could have been. And we could never fly.

    History has shown us that the most celebrated winners usually encountered heartbreaking obstacles before they triumphed. They won because they refused to become discouraged by their defeats.

    Look at any current successful business, you only see or hear their success.  You may never hear of their struggles when they started. How one of the world’s most well-known brands were denied a startup of $10,000 loan – at 47 different banks. Or, a Dow 30 company’s founder went bankrupt multiple times and had multiple failing businesses before he “got it right.”

    Anyone you know that is crushing it within their business now, has overcome adversity multiple times. 

    Beethoven composed his greatest works after becoming deaf. George Washington was snowed in through a treacherous winter at Valley Forge. Abraham Lincoln was raised in poverty. Albert Einstein was called a slow learner, retarded, and uneducable. If Christopher Columbus had turned back, no one could have blamed him, considering the constant adversity he endured.

    As an elementary student, actor James Earl Jones (a.k.a. Darth Vader) stuttered so badly he communicated with friends and teachers using written notes.

    We could go on with numerous examples of many famous people throughout global history that has overcome obstacles-adversary to accomplish something miraculous.

    Who do you know of or have met that has overcome these obstacles and are successful?

    We all know someone that has.  What obstacles or challenges are you facing in your business? The key is overcoming them.

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    Steve Feld, MBA, Certified Business Coach, Author, provides training and business performance coaching to business owners, professionals, and executives. Steve also speaks to organizations, conducts workshops, and training.  Focusing on lead generation and revenue creation to get growth results for the business.

    Contact Biz Coach Steve today to see how he can assist you to get the results you want in your business, [email protected], or www.bizcoachsteve.com. He is in the business of growing businesses. Need a speaker, contact Steve today.

    #bizcoachstevef #entrepreneur #smallbusiness #business #smallbiz #coaching #businessowner #businesscoach #leadership #marketing #speaking #keynotespeaker #meetingprofs #eventprofs #meetingstoday

  • SWOT Goals

    SWOT Goals

    SWOT Goals/Analysis.  We are not talking about eradicating bugs, but a tool that can help you strengthen your business.

    As the owner of your business, it can be extremely difficult to remove yourself from the day-to-day activities and view your business from a “30,000’ view.” Having that outside view allows you to get a more accurate picture of where your company stands right now and where it needs to go.
     
    One very effective tool that is extremely helpful during any strategic planning process is the SWOT Analysis. SWOT stands for Strengths, Weaknesses, Opportunities, and Threats.

    The SWOT Analysis begins with an environmental review. The environmental review takes into account all internal and external factors that impact your business. As you can see by the chart below, Strengths and Weaknesses are generated from your internal review (forces within your organization), and the Opportunities and Threats are generated by an external review (forces outside of your organization.)

    The two boxes in the left column, Strengths, and Opportunities are also seen as forces that can positively impact your company, and the two boxes in the left column may negatively impact your company.

                
     An internal environmental review might reveal, for example:

    Strengths:
    Competent, Dedicated Staff
    Strong customer service orientation
    Large well maintained customer database
    Inventory containing strong brand names.
     
    Weaknesses:
    Limited hours of operation
    Inventory control issues
    Marketing

    Your lack of knowledge in a particular area of business
     
    Opportunities:
    Better Location
    Marketing/Joint Venture Partnerships
    Additional product or service offerings

    Untapped markets
     
    Threats:
    Competition
    Rising costs of goods or fixed costs
    Poor economy affecting your industry or suppliers
    Construction on the road in front of your store
     
    The list can be as long or as short as you need. The important thing is to think about the internal and external environment and try to foresee every SWOT.

    The next step is to develop the SWOT/TOWS Matrix. In other words, how to prepare for all aspects of your SWOT analysis.
     
    SWOT/TOWS Matrix

    In the upper left box develop strategies that will allow you to pursue opportunities that fit with your company’s strengths. In the upper right box develop strategies that will allow your company to overcome weaknesses to pursue opportunities that fulfill your company’s vision.
     
    In the lower-left box develop strategies that use the company’s existing strengths to lessen the company’s exposure to known or perceived threats. And in the lower right box develop a strategy to keep the company’s known or perceived weaknesses from making the company more susceptible to external threats.
     
    With the SWOT Analysis completed you can integrate these strategies into your strategic planning to strengthen your company and achieve your annual goals. It is a good practice to conduct a SWOT Analysis annually with your staff, a mentor, or your coach. If you do it all by yourself, you may be missing some critical aspects that could harm you down the road.

    Contact Score today to get matched up with a Mentor who will help you in your business.

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    Steve Feld, MBA, Certified Business Coach, Author, provides training and business performance coaching to business owners, professionals and executives. Steve also speaks to organizations, conducts workshops and training.  Focusing on the lead generation and revenue creation to get growth results for the business.

    Contact Biz Coach Steve today to see how he can assist you get the results you want in your business, [email protected], or www.bizcoachsteve.com. He is in the business of growing businesses. Need a speaker, contact Steve today.

    #bizcoachstevef #entrepreneur #smallbusiness #business #smallbiz #coaching #businessowner #businesscoach #leadership #marketing #speaking #keynotespeaker #meetingprofs #eventprofs #meetingstoday

  • So many sites, so little time! How to prioritize social media efforts

    So many sites, so little time! How to prioritize social media efforts

    Facebook, Instagram, Twitter, LinkedIn, YouTube, TikTok, Pinterest, Snap, and on and on.

    In today’s business environment you MUST have some social media presence.  Your organization leader(s) are open and primed for social media, and they understand the need to stand out, and to be competitive you must have a presence on social media. Now, you’re ready to dive into the social media scene … but, into which pool?

    Navigating the online social media waters can be tricky. With choices galore, it can be difficult to distinguish where your organization should have a presence. Do you become the industry Facebook king or the region’s Twitter authority? Or maybe LinkedIn is the way to go, mixed in with some notable blog posts? Rather than playing guess-and-click with valuable resources, we’ve outlined five easy-to-follow steps to streamline your social media prioritization efforts!

    Step 1: Consider the time investment
    First, take stock of soft resources. How much time do you or your staff have to devote to social media activities? This number of hours will delineate how many tools your team can strategically take on without running the risk of being spread too thin and not making an impact.

    Take a close look at the hours worked each day by individuals whom you plan on being social strategists or implementers. Is there time available in their schedules, or can some things be shifted around? Also, gather their feedback on the commitment they would like to give to the effort. You may be surprised by their feedback.

    Step 2: Compare the platforms to match your goals
    Now that you know how much time you’re working with, compare each platform to align with your company’s marketing goals. Does the one or two social media platforms you select accomplish the goals in your annual & monthly strategic plans.  If “Yes” get posting. If “No” move on and don’t waste your time on that platform.

    If you are in a creative industry (bakery for example), Pinterest and Instagram may be your primary platforms and Facebook your secondary.  B2B organizations may be on LinkedIn and Twitter as their primary, with Facebook as their secondary.  Every organization must find out which platform serves their purpose the best.

    Step 3: Go where your target audience hangs out
    Many businesses think if they build it everyone will come.  Not in social media.  The platforms have been built and each platform attracts certain audiences.  Now, can your business be on all the social media platforms available?  Yes, but why would you do that to yourself?  If you have a large organization and a large social media team that is a different story. 

    However (as you likely know from personal experience), you need to be on the social media platforms where your target market is already congregating.

    Hop online, do some research to find out where your target market resides. The best research you can do to find out where your target market hangs out is to just simply ask your current and prospective clients.

    Step 4: Get a feel for the community
    Once you’ve determined which platform has the greatest potential for your business, it’s time to “lurk.” Lurking is a common term in the social sphere, used to describe the online behavior of feeling out a community’s inner workings before actively participating and engaging with its members. Observing a community and its influential members will give your organization an even more solidified idea of where its social media priorities should stand. This step is all about finding your perfect fit.  Think of this as doing detailed research within the platform.

    Step 5: Create and execute a solid marketing plan
    Now’s the moment you’ve been waiting for – setting your business’s social media priorities! You have done your research; know which platform you are going to start on then which platform you are going to go to next.  Take it in steps unless you have a team or dedicated staff members to handle all the social media efforts. Remember, this IS marketing.  You need to have a solid plan in place on the platforms.  Don’t post just to be posting.  Post items that capture your audience’s attention, engages them to act and connect with you.  Create a detailed social medial marketing plan that states what you are going to post, on which platform, on what date, at a specific time.  Provided great content. Define who create the graphics and text for the post.  Who will actually post it? Who will stay engages with others when they respond to your post? 

    If you have staff, then you need to share your strategy with them and have them engaged on the platform you are on.  One business has their staff take turns for 1 hour a day to post and respond on social media.  The staff loves it and it keeps their social media presence fresh and alive. 

    Once you’ve set your social media priorities, it’s time to dive in. Consistently keep your long-term goals in mind, while setting and reaching short-term goals to get there. Keep gauging success along the way, and never stop spreading the word. Before you know it, your organization will be the master of its online domains (pun intended)!

    #

    Steve Feld, MBA, Certified Business Coach, Author, provides training and business performance coaching to business owners, professionals and executives. Steve also speaks to organizations, conducts workshops and training.  Focusing on the lead generation and revenue creation to get growth results for the business.

    Contact Biz Coach Steve today to see how he can assist you get the results you want in your business, [email protected], or www.bizcoachsteve.com. He is in the business of growing businesses. Need a speaker, contact Steve today.

    #bizcoachstevef #entrepreneur #smallbusiness #business #smallbiz #coaching #businessowner #businesscoach #leadership #marketing #speaking #keynotespeaker #meetingprofs #eventprofs #meetingstoday