Biz Coach Steve

Category: Business

  • Limiting beliefs

    Limiting beliefs

    I was speaking with a business owner that has been struggling for the last 3 years (started pre-pandemic). He was telling me how great business was. He had rockstar staff members. His marketing was firing on all cylinders. Then he was looking at expanding his business and adding another product line that would complement his current business. Then that is the moment everything started falling apart. He then went into detail about his spiraling descent to where he is now. After listening to his story, I heard him tell me the following limiting beliefs that were keeping him from reaching his goals. We as business owners/entrepreneurs have encountered these limiting beliefs and many others. Once we remove the wall, we put up in front of us, we can move forward.

    1. Everything has to be perfect before sharing it.

    Being a perfectionist keeps you in your comfort zone and nothing great comes from staying in your comfort zone. Having everything perfect just isn’t natural – nature is the greatest proof that perfect isn’t real. Flaws connect better for people. That video training you want to release where you stumble over the name in the intro, or your cat walked into the frame – put it out there! Own it! If you are in the business of people, put it out regardless of minor flaws. Do your due diligence to proofread but limit the number of edits and just get it out there. Done is better than perfect

    • I’ll do it tomorrow

    Procrastination is the sister of perfectionism. When you push something off it it’s usually either a) You don’t “feel” like doing it, or b) You’re afraid you won’t do it well. The way you do anything is the way you do everything, so if you are procrastinating on the little things, you are likely procrastinating on the bigger things too. When you know there is something that you want to push off, make that the exact thing you do right now. The sooner you get it off your to-do list, the sooner you can focus on the things you love to do.

    • I am here to help everyone

    It’s an ambitious thought, but it is totally unrealistic to try to help everyone. The idea that you are here to “change the world” is a starting point. We change the world through our work on an individual basis. Think about your gifts and talents, think about who specifically needs those gifts and talents. Dial it in! The clearer and more concise you are with who you want to work with or work for, the better your clients will be suited to you and the better you’ll be able to market to them.

    • Discounting my prices will help me get more clients

    Discounts devalue the worth of a good or service. If you discount your rates, you show your potential clients that you agree that your services are not really worth $X. If you feel like you *need* to discount your offerings, it’s more likely that you are not valuing your own worth and therefore, you are not showing your potential client your value. Next time someone says, “That’s expensive,” you are being told that you have not established your value properly. So, you need to show them, very clearly, how your service will take them from their pain point now to their desired destination – map it out for them and show what your services are missing like. Most people will immediately have some sort of objection to the price, it’s natural. But if you see this, not as a reflection of you and your prices, but rather as their reaction based on their personal financial situation, you can be of service and guide them through the process.

    • There are so many other people out there that are better at this than me

    Compare and despair! Everyone has to start somewhere, even your greatest inspirations were just getting started once too. Also, the fabulous life you see through social media is a highly edited version and doesn’t show much of “real life” stuff that’s happening behind the scenes. This pattern has to stop! If you find you are spending too much time focusing on what others are doing, you are likely not doing what you need to be doing in your own business or life. Turn off social media, do your work and commit to showing up as your best self, you WILL attract your people and they will adore you. Look to others for inspiration on how to be better and integrate what you like into your own special sauce. The more you step into YOU, the more you will attract your people

    • Self-care and time off are a luxury. If I want to be successful, I have to just work a lot.

    Self-care is a foundation of a successful entrepreneur. By taking time for your body, mind, and soul, you allow time to replenish your valuable resources: inspiration, energy, and joy. Splurge on a massage mid-day on Tuesday and see how much better you perform this week. Turn off your electronics and go camping this weekend – I guarantee you’ll have a breakthrough in the next few days after returning, if not while you are away. You solve problems in your business when you take your mind off your business. The more space you have in your schedule, the more space you have in your heart and mind to put it back into your business.

    What to do.

    The first thing you will do is write down one of your limiting – or negative – beliefs. Then below it, write a counter statement, known as a power statement, that turns that limiting belief around. Example:

    Limiting Statement: I don’t know if anyone will buy this new product and my staff won’t even try to sell it.

    Power Statement: I know this new product will provide a lot of value to people and my staff will love to sell it because of the benefits to our customers.

    You want to continue doing this for any limiting beliefs or negative statements you find yourself thinking, saying, or buying into. Use these Power Statements as affirmations. You can integrate them into your daily morning ritual by reading them aloud every day. If you don’t currently have a daily ritual, use this to start one

    #

    Steve Feld, MBA, Certified Business Coach, and Author, a coffee enthusiast, provides training and business performance coaching to business owners, professionals, and executives. Steve also speaks to organizations and 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 #businesscoachnearme

  • Justifiable

    Justifiable

    I was speaking to a group of business owners and had the opportunity to have lunch with some of the participants. 

    You know how those go.  

    “What do you do?”

    “How’s business?”

    And so on.

    When I had the chance to ask questions to the business owners around the table, I asked them, “What issue/problem are you currently experiencing in your business that you are hiding from yourself?”

    That stopped the conversation.

    One of the business owners looked like they were about ready to break down in tears. He composed himself to say that he has been ignoring having a candid conversation with an employee that is killing this company.  Then he went on to justify why he has not had that conversation even though he knows this one employee is causing customers, employees, and vendors to leave him. 

    The question now is “is it helping you and your business by justifying his staying?”

    It’s easy to justify our mood or our actions based on how we’ve been treated by the outside world, or how we want to be perceived. Justification is not the goal. It’s effectiveness that matters.

    We get to pick how we act, and it seems as though choosing what works, choosing what makes us happy, choosing what makes the world the place we want to make it – these choices are more useful than any justification we can dream up. 

    He was choosing not to have the crucial conversation versus saving his business and then justified it with a million reasons why that employee is still working at his business.

    I am going to work with that business owner to help him be the leader he wants to be and stop justifying poor behavior.

    What issues, problems, and challenges are you justifying in order to avoid solving them?

    #

    Steve Feld, MBA, Certified Business Coach, and Author, a coffee enthusiast, provides training and business performance coaching to business owners, professionals, and executives. Steve also speaks to organizations and 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 #businesscoachnearme

  • 5 mistakes to avoid on LinkedIn

    5 mistakes to avoid on LinkedIn

    It seems people have been talking about LinkedIn quite a bit lately.

    They tell me, they love LinkedIn, but get lots of spammy messages and they are not finding prospects on LinkedIn. What I am finding out is that these people are complaining about the spam they get, but in turn, they are spamming others in the same fashion.

    Most people try to add and accept meaningful connections on the professional network.

    Still, there are reasons why you might not be making the connections you are hoping for.  Here are 5 simple mistakes to avoid on LinkedIn.

    1. You’re not sending a personalized message

    If someone walked up to you at a networking event and said, “I’d like to add you to my professional network,” you would probably give him a confused look. Sending a generic LinkedIn invitation to a stranger without introducing yourself is a big mistake.

    Instead, check their profile and find a meaningful interest that you share. Start by introducing yourself, and then mention the thing you have in common. Your potential connection needs to understand who you are. It is also crucial that they see how they, too, can benefit from this professional connection. Make sure it’s someone you want to connect with. Stop just inviting the world.

    2. Your profile is lacking significant information

    Hand down this is the simplest item to fix and the biggest mistake I see on LinkedIn. If you don’t have a headline or a professional profile photo, chances are your connection requests are going to be ignored. Having a complete LinkedIn profile and optimizing it for search help potential connections to know that you are legit.

    Don’t say in your message you are LinkedIn lead generation guru and your profile is not complete or use archaic phrases and show you are working at a fast food place.

    Make sure you have these important components:

    • Headline. Describe what you do and whom you work with.
    • Summary. This is arguably the most important element on your profile. The LinkedIn algorithm searches for keywords on your page, so take full advantage of the 2,000-character space to tell people what you do. Jazz it up by adding mixed media, such as images and videos.
    • Experience. Your profile will seem incomplete and humdrum if you don’t go beyond what’s on your résumé. Adding relevant images, videos, presentations or articles will help your profile stand out and enhance your credibility.
    • Endorsements. Unfortunately, our competitive society loves numbers. Opting out of endorsements or having very few will make your profile seem suspicious. Reach out to family members or co-workers to boost endorsements.
    • Connections. When someone is considering your invitation, they think, “How will this connection benefit my network?” Ten to 20 connections are a small, unimpressive network. Try connecting with friends, co-workers, family members, neighbors, fellow alumni, and former colleagues before you send connection requests to prospects and recruiters.
    • Customizable LinkedIn URL. You can create your URL based on your first and last name or the industry in which you are knowledgeable.

    Although there is no one right way to craft a LinkedIn profile, you will be more likely to connect with prospects and recruiters if your profile is complete and optimized.

    3. Your spelling, punctuation, and capitalization are flawed.

    If you have improper spelling, punctuation, and capitalization, people will be inclined to delete your request. Most prospects and recruiters will call you out for it every time. On a professional network, you must clean up your mistakes and have a polished profile. PLEASE DO NOT USE ALL CAPITALS IN ALL YOUR TEXT ON LINKEDIN.  That’s yelling and very unprofessional.

    4. You’re spelling their name wrong.

    Check and double-check the name of your potential connection. If you misspell their name or call them by the wrong name, you will be ignored.

    5. You’re trying to sell something.

    If you want to sell something to a prospect on LinkedIn, do not try to do so on your initial request. Many prospects and recruiters want to cultivate their professional networks. They don’t want you sending some crappy sales pitch to all their connections. Try having a more meaningful conversation rather than sending a template sales pitch.

    No matter how you change your approach to connecting, some people will not accept your request. Don’t take it personally; users have varied philosophies. It might just be an indication that your targeted person isn’t seeing what they would gain by connecting with you.

    Why do you accept or reject LinkedIn connection requests?

    Update your LinkedIn profile. Connect with your true target market using personalized messages. Don’t sell your stuff in your first message to someone.

    To your business success.
    Biz Coach Steve

    #

    Steve Feld, MBA, Certified Business Coach, and Author, a coffee enthusiast, provides training and business performance coaching to business owners, professionals, and executives. Steve also speaks to organizations and 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 #businesscoachnearme

  • Do you shelve Knowledge?

    Do you shelve Knowledge?

    This past week I attended an annual conference for over 120 high-performing coaches from all over the world.

    Yes, it was amazing.

    All the presenters were coaches sharing their knowledge, wisdom, strategies, and tactics so we can learn from them and help our clients in a greater capacity.

    I know many of you have attended a conference of some kind. Maybe it was for your company. Your industry, or a conference/convention where you can gain more knowledge to help your own business grow or improve your life.

    As I am preparing for my first TEDx talk, I do mention how we as attendees to events like these, shelve our knowledge.

    We take the time to travel to these events and spend money on the event, hotel, transportation, food, etc. Sit in a cold conference room, and drink bad coffee. Listen to speakers that are giving away gold that could help us in our lives or business. Get the workbooks, handouts, etc. Take copious notes. Maybe even buy the presenters books or programs.

    The event is over. We go back home, tired, and excited, and do what 98% of the attendees do with that information.

    They put it on a shelf or in an electronic file and say, “I will get to implementing everything I learned – one day.”

    Sad to say, that day never comes for most people.

    Shelving knowledge.

    No one will get around to implementing what you took away from the event unless you block time out after the event to develop a solid plan of action to implement all that knowledge you just gained into your business or life.

    One technique I learned a long time ago was to block out time immediately after the event. As soon as the event was done, block out time to create a plan on what I wanted to implement in my business and my life from everything I just learned.

    I had everything down to less than one page.  Then rank each action item from 1 to 4.

    • 1’s are items that can be implemented very fast without doing anything else and would give me and my business the biggest impact.
    • 2’s are items that can be implemented that would lead to a big impact but may need to have to do something first before implementing.
    • 3’s are items that would time some time to implement.
    • 4’s are long-term action items that can be completed after all the 1’s, 2’s, and 3’s are done and may need some outside assistance to get them implemented.

    Once everything is ranked, then put a due date or timeline for each action item. Now put those tasks in your calendar to get them completed.

    One tactic I have heard (and it works very well) is to block out the first business day after the event to create and implement your action plan.  No matter what, just block out dedicated time to look at your notes, and all the materials, put down what you want to implement in your business and life, then rank them in the order to accomplish the action steps, put them in your calendar and start implementing those great ideas.

    One great idea that I took away from the conference was building a new Podcast – Experts over coffee.

    This podcast will be different than our current podcast – Biz Coach & Coffee.

    Looking to launch it in January of 2023 and have started booking business owners who are experts in their industry to share their expertise to help all the listeners grow their businesses and improve their lives.

    So, if you own your own business for 5 or more years, have more than 3 employees (who are not relatives), and are willing to be interviewed on the podcast. Then let me know. Or if you know of a great business owner that fits our criteria and would like to be our guest and talk about their business and industry, please let me know.

    If you have that shelved knowledge. Book some time on your calendar. Get that material off your shelf or computer files and look at it again. See what you could use to grow your business or improve your life. Then create an action plan and start implementing that knowledge.

    Un-shelf that knowledge.

    #

    Steve Feld, MBA, Certified Business Coach, and Author, a coffee enthusiast, provides training and business performance coaching to business owners, professionals, and executives. Steve also speaks to organizations and 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 #businesscoachnearme

  • What is Your USP?

    What is Your USP?

    What is your USP?

    You may have heard that question at some point when you were building your business or starting up. USP stands for Unique Selling Proposition.

    In very simple terms, why should I buy from you versus anyone else?  What makes you different? Unique?

    After presenting at two large business groups and hearing everyone’s elevator pitch, it still blows my mind how many people do not have a clear focus on what their business is and who problems they solve and to whom are they solving those problems.  We hear extra filler junk, such as. “I am like the UBER of XXX.” So, what I heard is that you have a billion-dollar valuation, are in the debt over a billion dollars, and have not been profitable and probably will never be profitable. Not good.

    This was from an INC magazine article. “A Unique Selling Point is a feature or a characteristic of a product that makes it stand out from the masses and allows the product to look more exclusive/valuable to the customer. The unique selling proposition is often the crucial factor why a customer bought a specific product from a specific company (A), rather than a comparable product with similar features to another company (B). Simply put: the USPs are the unique benefits a product offers its purchasers.”

    So how can you create your own very compelling USP?

    Simple. Follow this simple formula and create your USP. Think of it as your elevator pitch.

    First, write down your target market. Now you may have more than one, but not more than three. Why? Because if your message is trying to be everything to everyone, no one cares, and no one wants to hear it. They want someone to solve their problems-not the world. Be specific about who your market is.  If it’s dentists, then what kind of dentist? Orthodontist? Periodontist? General? Oral? Etc.  Be specific.  “My company works with orthodontists.”

    Next, write down at least 25 problems your target customer has, then write down 10 more. This will really help your business down the road. Identify the top 3 problems your target market has based on your list. How do you know what the top 3 problems are? Hopefully, you know why your customers are doing business with you. If not, ask them what problems/challenges your product/services solve for them.  If you don’t have customers yet, then meet with a mentor to have them help you find those top 3 challenges. You also may know what 3 challenges you want to solve for your customers-but it must be in alignment with THEIR needs.  I.E. Orthodontists problems are; patients not showing up for appointments, potential clients not having insurance to get braces (cost), and finding good staff.


    Now write down at least one solution to each one of the problems you outlined in the last step. Be specific. Using our dentist as an example; send out email, text, and voice mail reminders for the appointment, provide another insurance solution if they don’t have insurance, and use a systematic process to hire great staff.

    Let’s put it all together.

    “My company works with elite orthodontists who have challenges obtaining new patients and attracting high-level staff. We help them develop acquisition and retention strategies to build their practice and their team.”

    You may be thinking, how did I get that USP from the exercise? It’s simple. THEIR problem is getting new patients in because they don’t have insurance, keeping patients, and getting new staff. The USP says that in a language that is speaking to the orthodontist-not to anyone else. Now, if another type of dentist heard this, would they want to know more from you?   Absolutely. You can alter your USP to your market.

    I.E. “My company works with elite dentists who have challenges obtaining new patients and attracting high-level staff. We help them develop acquisition and retention strategies to build their practice and their team.”

    See how that works.  You must speak to your audience. It’s NOT about you. It’s about who you serve, what are their problems, and how are you solving them.

    Stop being the Uber, Apple, Tesla, Google, Amazon, or whatever other company you want to compare yourself to. They have their USP. Here are a few.

    Uber: Ride when you want, where you want

    Apple:  We provide a lifestyle with our products

    FedEx: When your package absolutely, positively has to get there overnight

    Coke: The real thing

    Google: Access the world from your fingertips

    Mine: We can uncover $50,000 to over $100,000 of hidden revenue for a business in 45-minutes

    You are NOT them. They have established themselves in the market, you are working on establishing yourself. Speak to your audience, be unique, and be you. They do not have to define their market; it has already been defined.

    Create your USP today.  Be clear.

    #

    Steve Feld, MBA, Certified Business Coach, and Author, a coffee enthusiast, provides training and business performance coaching to business owners, professionals, and executives. Steve also speaks to organizations and 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 #businesscoachnearme

  • Are you a good Negotiator?

    Are you a good Negotiator?

    I was having coffee with a fellow business owner, and he was telling me that he is expanding his office into the suite next to his current office and he is about ready to start negotiating with his landlord. He confessed he has never had to negotiate anything like this before and was worried that he will not get everything he wants with the larger space.

    Many business owners just accepted a lease from a landlord and never entered into negotiating with them, which is normal.

    In a sense, all of life is a negotiation.

    You are always negotiating in some way. When you drive from one place to another, you negotiate through traffic, letting other people get in front of you and you get in front of them. When you go to a restaurant you negotiate, to get a table and then get the kind of table you most like. You negotiate all the elements of your work life and all the things you do or don’t do. You negotiate prices, terms, schedules, standards, and a thousand other details all day long. The process is never-ending.

    Your ability to interact, communicate, persuade and negotiate with others determines your income more than any other factor It is therefore well worth your while to do everything possible to be very good in this area.

    It is not really a question of whether or not you negotiate. The only question is, “How good of a negotiator are you?”  If you want to get things in life faster and easier then you need to be better at negotiating than the other person.

    How many times have you heard someone say, “I am not good at negotiating.”  The reason they feel this way is that negotiating is a learned skill, just as learning how to ride a bicycle.  They may not be good at negotiating because they were never taught how to negotiate.  Learning how to be an effective negotiator takes time and practice.

    Why does everyone hate to negotiate with a car salesperson? Because the salesperson has been taught how to negotiate and usually has the upper hand in the discussion.  Now, if you were trained as they were on how to negotiate and understood the rules of negotiating, would you dread negotiating with a car salesperson?  Probably not.

    The primary purpose of negotiating is to come to an agreement between two or more parties and then fulfilling that obligation.  That’s it. Simple right?

    Your ability to negotiate will for yourself and your company will make an enormous difference in the quality of your sales and the degree of profitability you achieve for your organization. So being an effective negotiator will make a great difference in your life.

    There are many rules for negotiating. 

    Rule #1) This is a shocker – AVOID IT!  Yes, that is correct, avoid negotiating. If the other party is good at negotiating and you feel you’re not, then why go into a negotiation with that attitude-you’re not going to fair too well on the outcome.

    Rule #2) Delay negotiating as long as possible. You must first have a desire to buy before offering concessions. Never use negotiating as a substitute for salesmanship (value).

    Rule #3) Negotiating is a sales tool – use it as one. Early concessions have very little impact on the deal and decrease the attractiveness of your product or service.  Early concessions create an appetite for more & bigger ones later and the first person to concede will usually concede again & again.

    Rule #4) There are several requirements for negotiating.  All parties involved must first have the authority to negotiate as well as to uphold what has been agreed upon. Many times, you may enter a negotiation, and come to an acceptable outcome only to find out that the person you have been negotiating with must get someone else’s approval.

    Rule #5) Some primary aims of negotiating in sales.  Remember if you don’t need to negotiate, then don’t.

    • Negotiate only when it’s necessary to get the sale
    • Negotiate to build a long-term relationship
    • Negotiate to find a way to satisfy both parties

    There are only six outcomes of negotiating.  If the outcome is NOT a Win/Win or No Deal, then end the negotiation. You may win in a Win/Lose outcome for now, but the party that lost will not be doing business with you after that deal.

    1. Win/Lose
    2. Lose/Win
    3. Lose/Lose
    4. Compromise
    5. Win/Win
    6. No Deal

    Finally, always prepare to be successful at negotiating. Remember negotiating is a skill that can be learned, and you need to prepare and practice before entering a negotiation. Some ways to prepare are;

    • Lawyer method:  Prepare your position from the other party’s point of view.
    • 20 Idea Method: Write out 20 benefits for the other party and when negotiating present those ideas.
    • Research the other party: Many times, this simple step is avoided.  Find out what they are looking to gain from the negotiation.
    • Get the fact before you enter a negotiation:  Make sure you are clear on why you are entering the negotiation with the other party and what they are willing to offer to enhance the negotiation.
    • Ask the customer for the information you need to negotiate effectively. Pretty simple, but how many times have you just asked the other party for their information?

    The next time you must enter into a negotiation with another party, be prepared, practice, do your research, qualify them to make sure you are dealing with the decision maker, research them (talk to some of their customers), and only accept a Win/Win or No Deal as the outcome.

    Good luck negotiating.

    #

    Steve Feld, MBA, Certified Business Coach, and Author, a coffee enthusiast, provides training and business performance coaching to business owners, professionals, and executives. Steve also speaks to organizations and 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 #businesscoachnearme

  • The Vacation Liberator

    The Vacation Liberator

    Some people have called me the “vacation liberator.” I am not a travel agent, nor do I represent a vacation destination, or am on any city travel destination organization. I am an executive coach.  The reason some people have called me this is that I get business owners and leaders to take a vacation.

    How many of us have heard a business owner/leader state, “Have haven’t taken a vacation in BLANK.” Fill in the blank with a number that is greater than 2 years.  They say it with pride. Like it’s a badge of honor.  They imply that without them in their business – it will fall apart and burn down.

    Do you think their staff or family feels the same way as this person?  I bet not. After speaking to numerous staff members and the families of these vacation phobia individuals, they have a different points of view. 

    The staff is frustrated that the owner/leader is proud they haven’t taken a vacation because they don’t trust the staff to run the business while they are gone. The staff maybe has not been coached or empowered fully to do the job they were hired to do and feel the owner has taken some of that power away from them.

    Their family is upset with them because they want to take a family vacation, but this person is “too busy” to take the time off and recharge their batteries.  For those of you that have children, understand they grow up very fast and we must MAKE the time to be with them during this time. For those that are married, you know how your spouse views you by not going on a vacation with them.  It does not support a positive healthy relationship at home.

    According to an article in Forbes (Feb. 2014) by Tanya Mohn stated, “Not taking vacation time is a bad idea, as it harms productivity and the economy.”  There is countless research on this topic.  The general gist is that not taking a vacation harms your business and your family life impacts the economy and demoralizes your staff.

    So, how does one liberate these anti-vacation individuals?  Simple.  BOOK A VACATION NOW! When proud business owners inform me about their last vacation 9 years ago, I had them call their spouses at that moment so I may speak with them. Then, just asked the spouse if you went on a vacation, where would you go and what would you do?  The owner/leader hears this conversation and usually confirms what their spouse states.  After that very brief call, I sit with the owner/leader and have them book that vacation at that moment.  Once the vacation is booked, I have them call their spouse and let them know when and where they are going on vacation.  You will not believe the positive response the spouse has, and it makes the owner/leader feel good about their decision.

    The next step is to have them round up their staff and inform them of their vacation and put it on all the calendars. We must now get the owner to assign some of his duties and functions to his staff, so they cover for him/her.  One of the main goals is to make sure the owner/leader does not log in to their emails, call the office or be able to check on the business while they are gone.  This is usually done by having their right-hand person be in charge and only contact the owner/leader if something is really bad.  Since every business does have a different dynamic, it depends on how deep we go with making sure the owner/leader enjoys themselves on their vacation and does not think about work.

    So, now are you one of those proud “I haven’t had a vacation in…?” If you are, stop everything and book your vacation now.  Get your spouse/significant other involved in that decision. Inform your staff-empower them to cover for you.  Go and enjoy yourself and re-charge your batteries.  When you return, your business will still be there, all is going to be OK, and you, your spouse, and your staff will like you much better.

    Stop lying to yourself. Recharge your batteries and take a real vacation.

  • 7 Traits of Successful Entrepreneurs

    7 Traits of Successful Entrepreneurs

    Enter “entrepreneurial traits” into Google, and the menu of frequent searches will complete the query with “… of Steve Jobs,” “Mark Cuban,” and “… of Bill Gates,” among others. These are the forces of nature that spring to mind for most of us when we think of entrepreneurs–iconic figures who seemed to burst from the womb with enterprise in their DNA.

    They inspire, but they also intimidate. What if you weren’t born with Jobs’ creative genius, Cuban’s pursuit of simplicity, or Gates’ iron will? There’s good news for the rest of us: Entrepreneurs can be guided to success by harnessing crucial attributes. Scholars, business experts, and venture capitalists say entrepreneurs can emerge at any stage of life and from any realm, and they come in all personality types and with any grade point average.

    Contrary to conventional wisdom, you don’t have to be Type A–that is, an overachieving, hyper-organized workaholic–or an extrovert to launch a successful business. “Type A’s don’t take the risks to be entrepreneurs,” says Elana Fine, managing director of the University of Maryland’s Dingman Center for Entrepreneurship, adding that the same goes for straight-A students. “Very often it’s C students who become entrepreneurs.”

    However, the best entrepreneurs do share a collection of characteristics, from tenacity to the ability to tolerate risk, that are crucial to a successful venture. An analysis of 23 research studies published under the title “The Big Five Personality Dimensions and Entrepreneurial Status” found that entrepreneurs have different personality traits than corporate managers, scoring far higher on traits such as openness to experience (curiosity, innovation) and conscientiousness (self-discipline, motivation) and considerably lower on neuroticism, which allows them to better tolerate stress.

    1. Tenacity

    Starting a business is an ultramarathon. You have to be able to live with uncertainty and push through a crucible of obstacles for years on end. Entrepreneurs who can avoid saying uncle have a better chance of finding their market and outlasting their inevitable mistakes. This trait is known by many names–perseverance, persistence, determination, commitment, resilience–but it’s really just old-fashioned stick-to-it-iveness.

    So much of entrepreneurship is dealing with repeated failure. It happens many times each week, every day.

    When failure happens, you have to start all over again. Those businesses that survive and thrive learn from their failures. Fail fast, my friend.

    • Passion

    It’s commonly assumed that successful entrepreneurs are driven by money. But most will tell you they are fueled by a passion for their product or service, by the opportunity to solve a problem and make life easier, better, cheaper.

    I hear this all the time that most entrepreneurs believe they will change the world. Passion based on your company’s specific mission is an intrinsic drive that provides the internal reward that can sustain you between paydays.

    • Tolerance of ambiguity

    This classic trait is the definition of risk-taking–the ability to withstand the fear of uncertainty and potential failure. “It all boils down to being able to successfully manage fear,” notes Michael Sherrod, entrepreneur-in-residence at the Neeley School of Business at Texas Christian University.

    He sees the ability to control fear as the most important trait of all. “Fear of humiliation, fear of missing payroll, running out of cash, bankruptcy, the list goes on. An entrepreneur looks at the situation and knows he has some control over the outcome, they may or may not.

    • Vision

    One of the defining traits of entrepreneurship is the ability to spot an opportunity and imagine something where others haven’t. Entrepreneurs have a curiosity that identifies overlooked niches and puts them at the forefront of innovation and emerging fields. They imagine another world and have the ability to communicate that vision effectively to investors, customers, and staff.

    Many people would be satisfied with a couple of successful businesses, but true entrepreneurs have that vision. Entrepreneurs have to endure naysayers and need to keep seeing the future before the future plays out. You have to be several steps ahead of the market.

    • Self-belief

    Self-confidence is a key entrepreneurial trait. You have to be crazy-sure your product is something the world needs and that you can deliver it to overcome the naysayers, who will always deride what the majority has yet to validate.

    Researchers define this trait as task-specific confidence. It’s a belief that turns the risk proposition around–you’ve conducted enough research and have enough confidence that you can get the job done that you ameliorate the risk.

    You have to have a lot of self-confidence. Be willing to take a risk, but be conservative.

    • Flexibility

    Business survival, like that of the species, depends on adaptation. Your final product or service likely won’t look anything like what you started with. The flexibility that allows you to respond to changing tastes and market conditions is essential. “You have to have a willingness, to be honest with yourself and say, “This isn’t working. You have to be able to pivot.”

    • Rule-breaking

    Entrepreneurs exist to defy conventional wisdom. A survey last year by Ross Levine of the University of California, Berkeley, and Yona Rubinstein of the London School of Economics found that among incorporated entrepreneurs, a combination of “smarts” and “aggressive, illicit, risk-taking activities” is a characteristic mix. This often shows up in youth as rebellious behavior, such as pot-smoking. That description would certainly hold for some of the most famous entrepreneurs of recent years.

    In fact, simply starting a business breaks the rules, as only about 13 percent of Americans are engaged in entrepreneurship, according to a Babson College report. Doing what the majority isn’t doing is the nature of entrepreneurship, which is where the supply of inner resources comes in.

    Are these traits in you? There’s only one way to find out.

  • Eight Signs it’s Time to Hire a Business Coach

    Eight Signs it’s Time to Hire a Business Coach

    As a leader, you might think you should have everything figured out already, but this simply isn’t true. While all of us have our talents, leadership skills are often something we have to learn along the way.

    Enter the business coach. A business coach oversees and guides a manager or founder in starting, growing, or developing a business. Like a sports coach, a business coach’s job is to help you develop the skills and resources you need to be successful. A coach is there to assist you in your business, not to tell you how to run your business. They can see your shortcoming and provide you the tools and resources to fill in those gaps to grow your business and improve your own skills.

    Whether you’re overwhelmed, in need of advice, or want to see better results, here are 8 signs that it may be time to bring in a coach into your business.

    1. You Are Overwhelmed

    One of the top signs that it’s time for a coach is when you hit that feeling of being overwhelmed. You are overwhelmed by feeling like there is too much to do and too few hours in the day to get everyone accomplished. You are overwhelmed by not knowing how much profit you are making at the end of your month. And you are overwhelmed because you don’t feel like you have control of your business, your employees, or your vendors.

    2. You Need a Confidant to Talk About Your Business With

    Standing center stage expects excellence. Who can you trust to speak without feeling exposed, or impairing your credibility or reputation within the organization or its clients? How would it feel to have a safe sounding board for honest feedback on your ideas and a partner to support you in the process of design, implementation, and evaluation? Time to hire a coach!  

    3. You Intellectually Know What to Do But Don’t Do It

    You need a coach when you “know” what to do but don’t implement. Lack of change typically occurs because you need to experience some paradigm shifts that require someone with an outside perspective to challenge your assumptions and because you need someone to help you translate general principles into specific steps that you can take in your own life.

    4. You Aren’t Getting the Results You Want

    Sometimes we think we know the right path to take in our career growth or business growth, but we come to find it isn’t working. To get the results we want, we may need guidance from someone who can see things from a more objective view, not a subjective view. Turning to a business coach can increase ROI, surge active engagement, and allow one to remove obstacles that are precluding results.

    5. You Want to Save Time and Money

    If you’re business or thinking about starting a business and thinking, “Wow, I could use someone to help me figure out the best way to do this,” you should be considering getting a coach. Going the “lone wolf” route can cost much more in wasted time and money, and that can all be avoided by working with an excellent coach.

    6. You Find Yourself Listening Only To Your own Ideas

    You need to hire a business coach is when you find yourself only listening to your own ideas. The higher up the ladder you are, the more people tend not to be honest and just comply. The same thing can happen to entrepreneurs because they have a tendency to work alone; they tend to only hear their own ideas. We all need checks and balances. A coach can help you.

    7. You’re Feeling Stuck and Frustrated by Others

    Einstien stated the definition of insanity is doing the same thing over and over and expecting different results. I hear this all the time. My clients often have a similar story reappearing in their lives in different ways. A great time to work with a coach is when you find yourself repeatedly frustrated by others around you at work, or if you can see that you have some unhealthy workplace dynamics, but you’re not sure how to really shift them. The unbiased perspective of a coach can be just what that executive needs.

    8. You Want Your Company to Grow

    If you’re alive and breathing as an entrepreneur, you need a coach. I’m not only a coach I am also the CEO of my company with multiple people in the organization. I’ve hired half a dozen coaches (and have 2 coaches), been the beneficiary of a couple of dozen mentors, and worked with multiple strategic partners. Your company only expands at the rate of your own growth. Find a coach you can rely on and get to work. The ROI is ridiculous.

    Stop the madness and wishing your company can grow. Get the help you need to really have your business take off. It will be one of the best investments you ever made in your business and yourself.

    #

    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 #businesscoachnearme

  • The Manager – Coach and Confidant

    The Manager – Coach and Confidant

    Your people are your most precious resource. Only your people can be made to appreciate you and the value you bring to them. All other resources and corporate assets depreciate over time. You need great people in your organization to grow your business.

    People leave jobs due to their manager and that person’s poor leadership and managerial skills. People stay at bad jobs due to how great their manager treats and lead them.

    Many organizations have managers that were promoted because; they talk a great game (the BS’ers), or performed well on a project, are great at shuffling paperwork, are well networked in the organization, due to nepotism, or were hired externally to make changes within an organization. Many managers are just that – managers and not leaders. There is a big difference between managing and leading.

    Bad managers may or may not know they are demoralizing their staff through their words and actions. The worst managers do not believe they are negatively impacting the business but believe the business is declining due to the staff.

    One big area I have seen managers and business owners fail at is providing effective coaching to their employees. They believe having that annual review with their staff, beating them up over something they cannot remember 10 months ago, and providing nothing, but negative comments are showcasing their great managerial skills.  They are doing it because that is all they know, and they need to check a box to say they did the review.

    The fastest and most effective way to increase the productivity and performance of your people is for you to give them timely and relevant coaching and counseling at the proper times in their careers. This is the exact opposite of what many managers believe. People cannot grow without honest, objective feedback and instruction from someone who can look at their performance and tell them exactly how they are doing.  The best managers are always communicating with their staff, coaching and guiding them. Correcting them if needed but in a positive and supportive manner.

    Everyone needs feedback and counseling from someone he or she respects and trusts to improve and to get better at their work. Many average people have become star performers within their organization as the result of a manager taking the time to guide them and instruct them on how to improve in critical areas of their work.

    One of the best managers I have ever met never wanted to run the company. They were very happy in their manager role looking over 50 people who were on the manufacturing floor.  The reason being his employees in his division had the highest output compared to other locations the company had as well as the industry average. His employee turnover was unheard of at 99% retention. He told new staff members that they will only work for him for a maximum of 5 years. His goal is to provide his staff with managerial and leadership skills to get a better job within or outside the organization. He had monthly group and one-on-one meetings. He did little talking at all the meetings. He listened. Asked the right questions at the right time. Provided guidance and support to everyone. All his current and prior staff members would walk through fire for this guy.  His passion was to be the best manager and develop leaders.  Could you emulate his vision and actions?

    You need to learn how to give timely and accurate coaching and counseling to each of your staff members regularly. If they are performing below par, take them aside and find out why. Ask them questions. Don’t start criticizing them and threatening them about their performance. You may be shocked to find out that person may have lost a close family member and that has impacted their performance. You don’t know. Treat them with respect and ask questions.

    Make sure you are clear about what is expected from your staff. If you just tell them to produce 100 units an hour, that is an expectation. Go deeper. Show them how to produce 100 units an hour. Sit with them. Ask them how they could produce 100 units an hour. What could they improve on to produce more?  Be clear on your expectations and be the coach and confidant.

    “The number one demotivator in the world of work is not knowing what is expected.”

    A great strategy is to have short monthly one-on-one meetings with your staff. The manager is there as a facilitator, the coach, guiding the meeting, but doing the listening and asking questions. To make these meetings effective and to coach your staff, they create the agenda for the meeting. Let them tell you what they have been working on in the past month. What their goals were in the last month and if they achieved them or not and why. They will tell you their goals for the next month and how they will achieve them. You will just ask questions to clarify anything they said and to push them a little bit to learn something new. Improve their production, their leadership skills, whatever it may be. You are the coach. Coach them. Be clear in your communication. No fluffy stuff. Be open honest and caring. Have them always reaching higher to achieve their personal goals and to achieve the goals of the business. 

    What are you going to do to be the coach and confident in your business?

    #

    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 #businesscoachnearme