Biz Coach Steve

Tag: entreprenuer

  • 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

  • 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

  • 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

  • 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)!

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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

  • The 5 Non-Negotiable Disciplines Of a High Achiever

    The 5 Non-Negotiable Disciplines Of a High Achiever

    Daily interruptions are inevitable. Acting on a fear of missing out, we allow the beeps, dings and vibrations to interject, to assure us that we’re connected, and subconsciously we tell ourselves that that constant connection has no impact on the amount of work we can accomplish. But we’re so bombarded with outside noise, it becomes almost impossible to avoid—and our productivity suffers because of it. Not to mention, it increases our stress levels.

    It takes a real effort—a conscious choice—to separate ourselves from that mindset. But when you adopt and practice these simple disciplines of high achievers, you will be better equipped to set goals and achieve them, without losing focus or direction.

    1. The discipline of believing.  Most of us think about doing great things. The difference between the average person and the high achiever is a commitment to belief. Because possessing the unqualified belief that you can do something is the first step to achieving it.

    Will Smith states: “There’s a redemptive power that making a choice has. Decide what you’re going to be, who you are going to be and then how you are going to do it. From that point on, the universe is going to get out of your way.”

    When you commit, truly commit to a choice, then everything else will fall into place to make it happen for you. Your decisions will be guided by your mindset.

    2. The discipline of eliminating interruptions. The world around you is structured to interrupt you. If you already struggle with focus, you are fighting a losing battle from the moment you wake. If you are normally a focused person but don’t control your environment, your day will become a series of interruptions. To combat this, you need to turn off everything that could attract your attention. Everything.

    My phone never makes an audible noise, I keep it face down most of the time so I can’t see the screen light up, and when I install new applications, I disable notifications. And that is exactly the way I want it. I lived a great life before text messages, and life will go on if I miss one now.

    Learn to be comfortable with silence and focus. The quality of your work will drastically increase, and you will be more productive, and the depth of your thinking will increase because you will have long periods to dedicate to your thoughts.

    3. The discipline of time management. Some might say time management is a myth because we have no control over time—it marches on with or without you. I don’t buy into that. But you should consider the limited amount of time you must get things done. I know when you are sitting at a desk staring at a project all day, the eight hours ahead of you can feel like 100.

    If I know something must be done, it will go on my calendar. I will only focus on that item for the time I have blocked-nothing else can be done during that time.  Try to “Eat the Frog.” It’s a term (and book) from Brian Tracy that states, do the most pressing item or the task that you are avoiding the most and do it first. Why? First, it will be completed and you can move onto the next task. Next, by you keep putting it off builds’ anxiety and stress. Lastly, everything after that will be easy.

    Schedule specific tasks (outbound calls, exercise, strategic planning, etc.) on a recurring basis and work the mundane around it.

    I lay out my high priority items as recurring weekly appointments. The appointments are with nobody but me, and nobody will know if I miss them. My exercise time is scheduled four days a week at 6 a.m. Because health is a priority to me, I’ve made these non­negotiable in my mind. When that time of the day hits, I stop everything, change and go to the gym. Any work or other tasks will be there when I return.

    Start doing the same on your calendar. It could be writing a book, spending time with a loved one, practicing piano or learning a new programming language. Nobody is going to knock on your door and push you to do it. It must come from you. Be stingy with your time. Protect it.

    4. The discipline of being health. If your body is not capable of handling your goals, you will become physically and mentally exhausted.

    To keep yourself healthy and ready to achieve your goals, you need to allocate regular, recurring time in your calendar to take care of your body—like I do with my exercise time. Ideally this should be multiple times a week and it should be non­negotiable. Exercise, done correctly, trains your muscles, heart and lungs to withstand larger levels of stress. So, if your body is used to the stress from regular exercise, it will have an easier time managing the stress in other areas of your life.

    The better you are at managing your stress and energy, the better you will be at accomplishing the goals you have set for yourself. Take care of your body.

    5. The discipline of ignorance. Ignorance is the epitome of focusing. You can’t possibly know everything, and you don’t need to. Once you are willing to live with not knowing everything, the things you choose to pay attention will get more of your attention and you will produce better results.

    If you want to achieve a higher level of skill at any venture in life, use this list to help you get started on your journey of being disciplined.

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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

  • What is the Psychological Toll of Entrepreneurship?

    What is the Psychological Toll of Entrepreneurship?

    Entrepreneurship carries with its unique pressures, unlike any traditional office job.

    Starting your own business means you shoulder personal risk, work long hours, and endure more stress than most other workers.  Being the business owners, it’s your skin in the game, everything rides on you.

    Studies are beginning to shed light on the psychological toll of entrepreneurship. Research shows nearly three-quarters of business owners have concerns about their mental health. Almost half have struggled with depression or anxiety.

    Society tends to glorify success and achievement. Just like first responders and those fine brave people in the military, business owners shy away from talking about mental health due to the fear and stigma attached to it. Thankfully, that’s changing.

    More top business leaders are coming forward about their battles with bipolar disorder, substance abuse, and OCD. The culture of silence around mental illness in the business world is beginning to shatter and with it the shame of seeking help.

    If you’re struggling to cope with the ups and down of the entrepreneurial roller coaster, first and foremost understand that you’re not alone. Millions of other entrepreneurs can relate to having days where you feel on top of the world, followed by periods where you feel as if everything is crashing down around you.

    Emerging from these low periods takes time, and it’s essential to enlist the help of a knowledgeable mental health professional to get you through.

    Your well-being is your best business asset. Knowing that you’re dealing with a mental health condition is the first step towards getting the proper treatment. If you’re concerned about your emotional state, here are tips to get you started on the journey towards brighter days.

    Know the signs

    It can be hard to tell the difference between being overwhelmed and something more serious, especially if you’re used to operating under pressure most of the time. But there is a line between a normal reaction to daily stressors and diagnosable mental illness.

    Stress is generally temporary, and short-term. When symptoms persist for longer than two weeks, you may be dealing with a mental health condition. Negative feelings that are extreme, persistent, and interfere with daily functioning such as the following shouldn’t be ignored:

    • Loss of freedom. You feel they as if you have no alternative way of acting. This can include feeling hopeless or that you cannot overcome difficulties in your life or work.
    • Loss of relationships. This can manifest as withdrawal from social events or isolation from family and colleagues.
    • Loss of productive life. Sleeping and eating patterns change significantly and you may find yourself not caring about activities you once loved.
    • Personal distress. Most commonly this manifests as pervasive and unchanging negative thoughts and feelings including rage, worry, and guilt.

    If you recognize any of these signs, seek help. Don’t rationalize away your struggles or simply dismiss them as the result of being crazy busy. Take care of yourself, so that you can take care of business, and more importantly, tend to your emotional well-being in the process.

    Get help

    No matter what you’re struggling with, help is available — even on a budget or without insurance. Many clinicians offer counseling on a sliding fee scale depending on income. Community health centers, teaching hospitals, universities also may offer psychotherapy services at lower cost.

    You can also take advantage of education and resources (including online and in-person support groups) through national organizations like:

    • National Alliance of Mental Illness
    • Mental Health America
    • Depression and Bipolar Support Alliance
    • Anxiety and Depression Association of America

    Some experts estimate there are more than 400 different types of therapy in practice today, so it’s important to understand what different approaches entail in order to figure out what will be right for you. Medication may also be an option.

    Before choosing to work with someone, request a consultation to make sure it’s a good fit. If you’re looking for someone who understands entrepreneurial struggles, ask about their experience guiding people around issues of work, career, or experience they have working with CEOs, founders, or freelancers.

    Remember, your ability to face challenges, even personal ones, can be your greatest strength. And no matter how dark it gets, please never give up.

    Contact a mental health professional if you realize the signs mentioned above.

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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

  • You’re Not Fit to Lead If Your Greatest Strength is Seeing Weakness

    You’re Not Fit to Lead If Your Greatest Strength is Seeing Weakness

    That may sound a little harsh. But many business owners and leaders are truly not fit to lead their team because they are only seeing weakness in others.

    We all know, or have worked for, or even are, that smart talented leader that finds it easy to point out inadequacies, describe what’s wrong, and explain disagreements.

    There’s no creativity in pointing out weaknesses.

    There’s no imagination in disagreement.

    There’s no innovation in explaining what cannot be done.

    There’s no added value in tearing someone down.

    What this does is put them into a self-supporting superior feeling due to the lack of true leadership abilities.

    Working with business owners for the past few decades I consistently hear these phrases from ineffective leaders.

    1.        I disagree.

    2.        That won’t work.

    3.        We already tried that.

    4.        You’re wrong.

    5.        You should be better at….

    Ineffective leaders find fault like it’s the only thing leaders do. They believe they need to find fault in everything to justify their position.

    The ability to see wrong, point out a weakness, highlight mistakes, and declare deficiencies is important and necessary. But don’ts, won’ts, and can’ts stabilize the past and move the business forward.

    It’s safe and powerful for leaders with the authority to prevent change, end exploration, and tell people what they can’t do.

    Now, here’s what highly effective leaders love to ask:

    1.        Have you thought about…? Offer alternatives when you disagree. What if…?

    2.        How about…? Have the courage to make something better, rather than simply pointing out inadequacy.

    3.        You’re great at …. How can you bring your strengths to this challenge? The future depends on the strengths of the people around the table.

    4.        How might we make this better?

    5.        What are we trying to achieve and why does it matter? When you’re ready to point out a fault, ask yourself, “What are we trying to accomplish?”

    The future belongs to the curious.

    They ask questions and look for alternative solutions instead of showcasing fault and blame.

    So, how can a leader change their ways and stop finding fault and start pursuing excellence within their business?

    Here are 3 simple tips:

    1.        Notice three strengths for every weakness you point out.

    2.        Say what you see when you see progress. Highlight your wins and positive movement.

    3.        Leverage positive energy. Figure out how to apply energy to positive outcomes. Positive energy equates to positive outcomes. Negative energy leads to negative outcomes.

    If you see growth, other solutions, ask questions, seek input from others, have a positive mindset, your business will grow and be successful.

    On the other hand, if you thrive on pointing out fault, don’t ask questions, blame everyone and everything around you, refuse to listen to anyone but yourself and have a negative mindset, then your business, employees, customers, and vendors will not want to have anything to do with you and your business will die.

    So, take a deep look at yourself. 

    Are you fit to lead?

    #

    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 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

  • 7 Steps to the Perfect Social Media Plan

    Do you dream about the perfect social media plan? The perfect social media template? Many business leaders wanting to get social dream about it.  They think they need it. The social media magic template. The one that includes the perfect strategy, tactics and themselves as the social hero of their company and social superstar of their market niche!

    You know the social media template I am talking about.  The one that will help you see a positive return on investment where everything is measurable and justifiable to stakeholders. The one that will make your employees scream with delight and as a result enable you grow your business even faster!

    The question is… does the perfect social media template or strategy for your business exist?

    A perfect strategy or template, well probably not! A good template and structure, yes!

    Do you want the answer? Are you ready for the top 7 tips to develop a social media strategy that will make your ROI zoom?

    Here ya go…

    Step 1: Do your own research on how to best leverage social media to meet business goals and objectives. Don’t be on every social media platform. Find the right ones for your business.

    Step 2: Develop a business and integrated marketing plan inclusive of goals and objectives. Be sure to focus clearly on your target market segments with a goal of knowing them and getting in their head the best you possibly can.

    Step 3: If you don’t have the skills and knowledge of social media internally, hire the agency or consultant to help you integrate social media into your business. Be sure that they understand integrated marketing, the importance of setting goals and objectives and can help you develop and execute a plan to meet yours! Refuse to accept a list of random acts of social media (RAMs). If the plan is not integrated then the RAMs will eat your ROI for breakfast, lunch and dinner!

    Step 4: Integrate social media into your business plan with a focus on leveraging social media to support your business goals and objectives. Your business plan may need to be adjusted based upon your new findings and research of the social media landscape.

    Step 5: Develop an integrated social media strategy, approach and plan that best supports your business goals and objectives. Just like your marketing plan, have a detailed social media plan. When, where, what, how you are going to post content. What is that content? Be detailed in your social media plan

    Step 6: Execute the integrated marketing, social media and business plan.  DO IT!  Don’t put your social medial plan in a drawer and forget about it. Act on it and measure the results.

    Step 7: Continuously analyze, measure and refine your approach, strategies and tactics based upon achievement to goals and objectives. Things will change based on the data you receive from your social media plan, be ready to make those adjustments to get the ROI you are looking for.

    Now, start on Step 1 and start researching social media platforms that are relevant to your business and where your customers are.  Then go through the other steps to build your perfect social media plan.

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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

  • Top 10 Reasons Small Businesses Fail

    Sad to say this but the stats don’t lie. The statistics for a new business to succeed is not too positive. Twenty-four percent of new business fail in the first two year. Almost 50% of those remaining fail within the first five years. Which leaves about 8 out of 100 new business that are still around after 10 years.

    The top ten reasons small businesses fail are simple and all can be avoided. But most business owner do not seek help and avoid the harsh realities of their own business. The order of the list has been discussed with many fellow business owners, mentors, coaches and consultants and we feel this order and the years in which a business fails are accurate.

    1. Cash flow: Hands down the number one reason why small businesses fail. You need to know how to track the money coming into and out of your business — even a profitable venture will flounder if it runs short of cash. In addition, you must learn to make cash flow projections that will help you decide how much money you can afford to spend and warn you of impending trouble.
    2. Lack of clarity: Most new business owner does not have a clear vision for their business, and do not have a target market. They are shooting a shotgun in the wind and not shooting at anything at all. If you don’t know who you service, what their problems are and how your product and service satisfy their need-your business will die an ugly death.
    3. Sloppy or ineffective marketing: Contrary to the popular cliché, few products or services “sell themselves.” If you don’t have time to market your product effectively, hire an experienced person to do it for you. Marketing keeps your products selling and money flowing into your business. It’s crucial that you do it well. Know your target market and stay focused on them. Forget everyone else.
    4. Unsustainable product or service: If you don’t have a market for your product or service, then you have no sales. The true purpose of business is to satisfy a want or need with your product or service in exchange for money. If your target market is 1 out of every 10 million people, you will not be around long. Once those people have your product or service will they rebuy?
    5. Inadequate planning: Start with realistic but precise goals for your business, including deadlines. For example, don’t just say that you want to increase sales; instead, decide that you want sales to reach $100,000 by next holiday season. Then write down the steps you can take to meet those goals on time and set deadlines for completing those steps. Consult your goal list every day, and make sure you are doing what you need to do to meet your objectives.
    6. Procrastination. When you own a small business, you will find that tasks and paperwork pile up like snowdrifts on your desk. Putting them off is like piling up debt; eventually they could overwhelm you. Small business owners like distractions that keep them from money making activities. Stay focused, have goals, move forward in your business.
    7. Incompetent employees: Hire only workers who are essential to your operation. When you do hire employees, make sure they’re well trained and able to complete the tasks expected of them. And remember that happy employees make good workers — try to create a work environment that keeps your staff happy and motivated. Sometimes the incompetent employee is the owner.
    8. Ignoring customers´ needs: Once you attract customers, you’ll have to work hard to keep them. Customer service should be a key aspect of your business. If you don’t follow through with your customers, they’ll find someone who will. Most small business are horrible at following up with customers. This can set you apart from your competition.  Remember, not customers, no revenue, which leads to no business.
    9. Ignoring the competition: Consumer loyalty has declined sharply in recent years. Today, customers go where they can find the best products and services, even if that means breaking off long-term business relationships. Monitor your competitors, and don’t be ashamed to copy their best ideas (assuming that doesn’t mean violating patent law). Better yet, devote some time each week or month to devising new methods, products or services for your firm. You need to show value in your products and services. Being the low-price leader, means you also need to be the low-cost leader to win.
    10. Lack of versatility: You may be great at making hats or painting houses or fixing computers, but that’s not enough to make your millinery shop or house painting business or computer consultancy successful. Successful business owners tend to be adept at a number of tasks, from accounting to marketing to hiring. You need to be well versed in all aspects of your business. Hire people to do the tasks you do not like to do or are unskilled to do.

    Bonus: A closed mind: Everyone goes into business with some preconceptions — don’t be surprised if you find that many of yours are wrong. Look for mentors who can give you advice and run your ideas by them before you make important financial commitments. Read books and magazines about small business, visit business-related Web sites and network with your peers in the business community.

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    Steve Feld, MBA, 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 Steve today to see how he can assist you grow 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