Biz Coach Steve

Tag: Start up

  • Money-Leverage!

    Money-Leverage!

    How to leverage the maximum amount of money out of every hour you spend working.

    I’d like to talk about one of your most precious, but grossly under-valued commodities…

    Your Time!

    You see, most of us are taught that you’ve got to work long, hard hours if you want to be a “success”.

    By the time you’re through reading this article – it’s going to become “crystal” clear to you that…

    Nothing Could Be Further from The Truth!

    I’m going to reveal to you my little-known but highly effective system for working “smarter” not “harder”. How many times have you told your spouse, friend, or significant other “I work so damn hard, I should be a millionaire by now” or ” My competition must be doing something illegal to make all that money since I work three times harder and make one-third less money than they do!”

    If you haven’t figured it out yet, making a lot of money has absolutely nothing to do with how “hard” you work.

    Let me try to be more specific with you.

    A renowned business consultant named Michael Gerber wrote a book called The E-Myth (which I highly recommend all business owners should read). This book is great in dispelling many business E-Myths.

    I strongly urge you to read it for yourself, but here is a brief synopsis of the invaluable lessons within the book.

    1. Most Business Owners Are “Technicians” NOT Entrepreneurs.

    Gerber explained that most successful employees figure to themselves that they could make far more money if they owned a business rather than working for someone else.

    So, what they do is go out, start their own business, and create a “job” for themselves.

    In most cases, these people end up working harder for themselves with less money to show for it because they now also have a dozen other “jobs” to worry about, and there are no other employees to do them. These business owners are worse off with their own business than they were working for someone else because they never truly understood what it meant to be an “entrepreneur”.

    2. You Must Work “On” Your Business Not “In” Your Business.

    If you truly want to be successful in your own business, you cannot and should not do everything yourself.

    Your job should be marketing and sales, getting and keeping customers. Not ordering office supplies, doing your own bookkeeping, answering your own telephones, making copies, faxing, typing, and doing everything else your business requires.

    If all of your time is spent doing administrative “detail” work, you will never have time to focus on truly important things like marketing, getting new customers, and keeping current customers happy.

    3. You Must Have Predictable “Systems” Set Up for Running Your Business.

    Every single business, no matter how large or small it is, must have a “systematized” way of doing things.

    Otherwise, your business will operate in constant “chaos” which will ultimately lead to customer dissatisfaction, and probably the failure of your business.

    A perfect example of a system is a franchise like McDonald’s. They have systematized every single aspect of their business so that any new franchisee can open a McDonald’s restaurant in their area, and their customers will have the same exact experience as they have had at any other McDonald’s restaurant across the world.

    Virtually every aspect of your existing business can be reduced to a “step-by-step” procedure that is repetitive.

    There are very few things that will happen in your business that are totally new or unfamiliar to you.

    Understand that most aspects of business are repetitive, and then set out to put together your own “operation’s manual” which explains how to do every function of your business in step-by-step detail.

    This way, when you start hiring new people, most of your training can be done by handing them your manual and telling them to read it. It will make running and growing your business much easier.

    Now, let’s talk about “Money-Leveraging”.

    What Does “Money Leverage” Mean?

    Good question. Let me explain.

    A famous copywriter and marketing expert named John Carlton coined the term “money leverage”.

    What he meant by this is that the goal of every entrepreneur or business owner should be to literally “leverage” the maximum amount of money out of every minute they spend working.

    To be more specific, he explained that most entrepreneurs have a difficult time differentiating between $15/hr. work and $250/hr. work.

    In other words, every time you make a copy, send a fax, answer your own phone, order office supplies, or do your own telemarketing or bookkeeping – you are “hiring” yourself to do $15/hr. work.

    I’ll bet you’re saying to yourself right about now – “But Brian, I don’t have the money to pay someone to help me do these things – I’ve got to do everything myself.”

    If this is the case…

    You’re Costing Yourself a Ton of Money!

    “How could this be?”, you ask.

    Let me explain. Every hour you spend doing $15/hr. work is a “working” hour you can’t spend doing $250/hr. work.

    Since most of us work about 8 – 10 hours a day, every hour you waste is money lost that you can never regain.

    To put this more simply, there are two types of jobs in every business, I don’t care what type of business a person is in:

    1. Money Dissipaters:

    These are jobs like administrative work, bookkeeping, running errands, etc. They don’t make the company any money, they cost the company money.

    These jobs must be done to run a business, but they do not bring any money into the business, and without sales, these jobs are useless.

    2. Money Makers:

    These are jobs like marketing and sales, setting up joint ventures, etc. All of these activities bring money into the business. These are the $250/hr. jobs. And if you haven’t figured it out yet…

    These Are the Only Jobs You Should Be Doing!

    You see, the true definition of an entrepreneur is a person who is a “Rainmaker”.

    You’re the one who “makes things happen”.

    Your job is marketing and sales, and keeping existing customers happy so they keep re-purchasing from you.

    All other jobs should be hired out – period!

    Let a $10 – $15 an hour person help you with every aspect of your business other than “Getting and Keeping Customers”.

    For example, if you’re still handwriting names and addresses on your postcards, mailing out the FREE reports, doing your own telemarketing, and filling out the financial aid forms yourself – you are now doing $15/hr. work.

    The only, and I repeat only thing you should be doing is conducting seminars, doing sales presentations, and continually staying on top of your marketing (i.e., making sure postcards are sent out every week, doing 1st, 2nd, and 3rd notice mailings, sending out a monthly newsletter, etc.).

    Every other job that you’re currently doing should be off-loaded to someone else who is probably far more capable in that area than you are.

    In fact, this is exactly how I was able to grow my businesses and help my clients grow theirs as well.

    I’m always asking myself the question, “Can someone else do this job cheaper and more effectively than I can?”

    If the answer is “yes”, I immediately pay someone else to do it!

    Every time you start doing $15/hr. jobs, think to yourself…

    “I’m Burning Up $250 Bills Right Now!”

    That should put you in the proper mindset, and make you feel guilty that you’re “costing” yourself hundreds of dollars.

    This is the “secret” to money leverage and making a fortune in your business.

    It’s not working “harder” that makes you rich, it’s working “smarter”.

    So, the next time you hear someone say, “I work so hard, I should be a millionaire by now!” – ask them if they have employees, or if they have an “operator’s manual” for running their business.

    I’ll bet you the farm these people don’t know how to delegate or differentiate between $15/hr. and $250/hr. work!

    #

    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 #business #stevefeld #smallbusiness #smallbiz #entrepreneur #marketing #leadership #coaching #businessowner #businesscoach #businesssuccess #businesscoaching #businesstips #entrepreneurship #success #entrepreneurlife #keynotespeaker #podcast #author #smallbusinessowner #speaker

  • Don’t build on borrowed land

    Don’t build on borrowed land

    This is great marketing advice. Don’t build ANYTHING on borrowed land.

    This means if you don’t own the platform (or have control), then don’t focus all of your marketing efforts on that platform.

    Do you remember a few years ago when Facebook went down for 3 days?

    I had a client that was doing all his business on Facebook and not one penny on any other platforms. He was grossing around $30,000 a day (yes, you read that right) selling products (affiliate marketing). He focused on placing targeted ads and putting people into funnels, which turned into sales. He had around 90 funnels going. His ad spend was shall we say – a crazy ridiculous high number.

    Then his business world ended all in 3 days.

    On the first and second days, his funnels were cleaned out. All those people in his funnels are done. They either purchase something or they will not be contacted for another month. But not one new person entered any of his funnels for 3 straight days.

    By the end of the third day of no Facebook. All his funnels were dry. His daily sales were close to zero.

    When Facebook came back, he had to rebuild all his ads and funnels. Everything was wiped out. This took him another 45 days to get set up. His business started recovering to the pre-black-out daily sales a year later.

    He built his entire business on borrowed land.

    When people connect with you on any social media site, work on moving them over into your database. Get them in your newsletters, anything you can control.

    Think of where you have the most followers, likes, subscribers, etc., and then think about what would happen to your business if that platform decided to shut down tomorrow.

    It could happen.

    Microsoft could close LinkedIn.

    The Zuck could shut down (or be forced to shut down) Facebook and Instagram.

    Elon ends Twitter.

    And so on.

    Don’t build your business on borrowed land.

    #

    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 #business #stevefeld #smallbusiness #smallbiz #entrepreneur #marketing #leadership #coaching #businessowner #businesscoach #businesssuccess #businesscoaching #businesstips #entrepreneurship #success #entrepreneurlife #keynotespeaker #podcast #author #smallbusinessowner #speaker

  • Do you have a Customer Pipeline?

    Do you have a Customer Pipeline?

    There are several good reasons why every small and medium-sized business needs to build and maintain an effective customer pipeline, but perhaps the most important one is that failing to do so can jeopardize your financial stability.

    Having a sustainable pipeline structure is essential to the long-term viability and growth of your business. It is impossible to be too aggressive in this area.

    Many business owners lack the essential knowledge of what an effective customer pipeline entail. Items such as why I need a solid pipeline. Do I have to invest in more programs and services? How will I manage the pipeline? Do I have to hire someone to set a pipeline up?

    Building a customer pipeline doesn’t have to be expensive or difficult, especially if you break the process down into a series of key stages. There are many forms of customer pipelines. We are going to look at an automated pipeline.

    The goals of a customer pipeline include creating awareness, generating leads, converting leads to sales, boosting transaction value through upselling and cross-selling, and increasing frequency through reorders and repeat sales.

    Start by mapping out the sequences that best align with your ideal target market profile and the products/services you would most like to begin or continue offering them. It’s easy to look at “Low-hanging fruit” at a lower price, but you should be thinking about what you can offer at a higher price that may eventually provide you with a greater return on your investment.

    Any pipeline process needs to include measuring the performance of each stage (phase) of the process. Set benchmarks against existing performance and establish the potential for improvement. Knowing your numbers will allow you to make any adjustments and plug up any “leaks” in your pipeline and be able to “boost” performance in other areas.

    Gathering, analyzing, and leveraging customer information are critical activities for your pipeline.

    Here are 7 key stages in an effective customer pipeline.

    1. Offer your target market a free offer (guide, book, video, worksheet, etc.) to entice them to “opt in” to learn more about you and your business.
    2. Make the offer low-risk so they can easily “opt-in.” Just get their name and email.
    3. Once they ‘opt-in” get them what you offered to them ASAP without having them perform any additional steps.
    4. Have a “drip campaign” for your new prospect to get to know you better. Provide them with more relevant information – NOT selling to them.
    5. Introduce a new offer to them within the drip campaign. Sign up for a workshop, get another video or book, free consultation, etc.
    6. Once they take advantage of your second offer, they are now more likely to purchase a higher ticket-priced product or service from you. Now you can obtain more demographic information about your customers.
    7. Now you can offer a high price point product or service from you.

    Don’t forget to measure your activities. How many people opted-in to your offer? Stayed enrolled in your drip campaign? Took advantage of your 2nd and 3rd offers?

    One key to a successful pipeline (other than measuring results and making necessary adjustments) is to be consistent with your marketing efforts to always be bringing in more prospects into your pipeline.

    What automated customer pipeline do you have in your business?

    #

    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 #business #stevefeld #smallbusiness #smallbiz #entrepreneur #marketing #leadership #coaching #businessowner #businesscoach #businesssuccess #businesscoaching #businesstips #entrepreneurship #success #entrepreneurlife #keynotespeaker #podcast #author #smallbusinessowner #speaker

  • 7 Marketing Strategies that will Skyrocket your sales and profits

    7 Marketing Strategies that will Skyrocket your sales and profits

    I know what you are thinking.

    OMG… not another marketing program that costs lots of money.

    Nope. Just 7 simple marketing strategies that you can use to grow your business.  There are literally thousands of different marketing strategies that you could be using to grow your business, but only a few that you need to do it consistently and that will allow you to make all the money you desire.

    Strategy #1: Create a Marketing Parthenon

    The only constant in business is change. Therefore, you need to be brilliant at the basics.

    A marketing Parthenon means having multiple different sources of revenue and lead generation instead of relying on just one. What worked yesterday, may not work today.

    To give you an example, we have private coaching, group coaching, mastermind, automated courses, book sales, speaking revenue, affiliate programs, and a formal referral program.

    What is your revenue Parthenon?

    Strategy #2:  Consistency

    This one seems so easy, yet so many people fail to be “consistent” in their marketing efforts.

    If you just mailed out 200 postcards, then you should be working on the next round of mailing out the next 200 postcards.  Just like running an ad in the local papers, or online. You need to create momentum and be seen. Not one and done marketing strategies that so many businesses perform. 

    Strategy #3:  Sequenced Mailings

    This is probably the most important marketing strategy you could implement, yet very few businesses put systems into place to allow them to tap into the power of consistent sequenced mailings. ** This also goes for email marketing – drip campaign.

    Here’s why this one is so powerful. Most people are gathering information before they purchase some items. If they see your ad once, they will forget you when they are ready to purchase. But, if you keep in touch with them through a consistent marketing program, then you will be top of mind when they are ready to purchase.

    Most marketers believe you should “touch” (not physically) your prospects 11 to 15 times before your message breaks through and they are ready to buy. Why do you think fast food restaurants advertise so much – repetition?

    Strategy #4: Monthly Newsletters

    Do you send out a monthly newsletter to your clients?  This could also be done via an email newsletter.

    It’s easier to re-sell to an existing client than to sell to someone who doesn’t know, like and trust you.

    Interesting stat: Did you know that you lose 1 ½ of the value of a client every 30 days you don’t communicate with them?

    It’s not just selling stuff but providing your clients with content that they can use and that is related to your product or service.

    Just keep in touch with your clients.

    Strategy #5: Create Joint Venture partnerships for your business

    As I just said, it’s far easier to re-sell to an existing client than to an unknown prospect.

    You’ve spent money and time acquiring a client, it’s relatively inexpensive to send them a letter promoting another product or service that is RELATED to yours.

    You can send (including email) a guide on behalf of your JV. If anyone from your list purchases anything from your JV, they will pay you a flat rate or percentage of the sale.

    This works for complimentary products and services to yours.

    Strategy #6:  Testing

    It is surprising how few marketers actually “test.”

    One example of this is A/B testing.

    • Test one marketing piece against another
    • One headline against another
    • One price against another
    • One guarantee against another
    • One medium against another (local papers versus city papers, Facebook versus Instagram, etc.)

    The list goes on.

    Most of the time no one tests to see what resonates with your target market to have them buy from you.

    I have done this before and it saved me $2,500 a month if I would have gone with one postcard with a negative return, versus a postcard that cost $100 a month and had over a 20,000% return. Yes, you read that right.

    Strategy #7: Create a Deluxe Version

    Airlines have “First Class,” nightclubs have “VIP” rooms, and hotels have “Suites.”

    Get the point?

    Give your clients more than one option. Offer them the “No Frills” service for one price, and the “Premium” service for a higher price.

    Put those extra bells and whistles into the “Premium” service and create a much higher “Perceived Value” and I GUARANTEE most of your clients will choose the “Premium” service.”

    Give your clients a “Yes” or “Yes” decision NOT a “Yes” or “No” decision.

    Which strategy will you implement in your business today to grow your business?

    #

    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 #business #stevefeld #smallbusiness #smallbiz #entrepreneur #marketing #leadership #coaching #businessowner #businesscoach #businesssuccess #businesscoaching #businesstips #entrepreneurship #success #entrepreneurlife #keynotespeaker #podcast #author #smallbusinessowner #speaker

  • Start today to change EVERYTHING

    Start today to change EVERYTHING

     Think about where you were 5 years ago.
     
    Seems like only yesterday, right?
     
    Are you where you thought you’d be 5 years later when you looked forward back then?
     
    Are you leading the life you envisioned?
     
    Do you have the income, lifestyle, freedom, health, relationships, poise, and skills you thought you would have by now?
     
    Guess What?  Now you get another chance to look forward to the next 5 years
    Over the next 5 years, you can accomplish what people spend a lifetime trying to do. How do you visualize your life to be in 5 years? What job do you have in what industry? How much money are you making? What city do you live in? What kind of car are you driving? What kind of house/apartment/etc. do you live in? Who are you within your relationship? How are you viewed in the community?

    Be as specific as possible. Take the time to visualize all areas of your life. I only mentioned some of them. Write them all down and look at them every month, week, and even day. Start today moving to where you want to be in 5 years.
     
    A Goal vs. A Promise
    It makes a big difference if you turn your goals into promises.  That’s because most of us have set goals and know of other people that have set goals and didn’t fulfill them.  Our mind tends to see goals as something to strive for, something to aim at…but if we don’t “hit the target”, it’s fine because “we’re not the first or the last that have set goals and didn’t achieve them.”
     
    On the other hand, when we promise someone that we’re going to do something, our mind goes to work for us and we do everything that’s in our power to fulfill that promise because we don’t like to feel the pain, shame, or embarrassment of letting somebody down.  Our integrity is such that a promise means more to us than setting a goal.
     
    The Power of Accountability Partners
    Commitment is doing the thing you said you were going to do, long after the mood you said it in has left you.
     
    The pressures of life will not come to an end just because you have decided to begin this program.  It has been my experience that those who have the most success with the program are those who had 2 or more Accountability Partners (not within the same household) doing the program also.
     
    Some benefits of utilizing Accountability Partners include:

    • Assistance in organizing ideas, thoughts, and tasks into specific, measurable, attainable, and realistic goals
    • Assistance in prioritizing an effective and consistent plan
    • Ensuring accountability for task follow through
    • Mentoring through difficulties and indecisiveness
    • Sharing advice, personal knowledge, and experience
    • Follow up on your success


    During your search for appropriate Accountability Partners, keep in mind that the right person should be someone who will challenge, engage and evoke a sense of accomplishment in you.  Confidence, creativity, and strength are all traits that will be useful to you.  Also, consider choosing an Accountability Partner who you trust to keep confidence as you may get into financial and personal discussions that are confidential in nature.
     
    Promise yourself and your Accountability Partners that you will become a better person and achieve your goals.
     
    Change Your Thinking, Change Your Life
    Unlocking your full potential for Wealth, Success, and Achievement
     
    Your THOUGHTS,  your WORDS, and your ACTIONS are building blocks to creating the life that you want!
     
    Doing the same things over and over expecting different results is insanity.  The only way to get different results is to change what we do.  The process of change begins in our minds.  Our thoughts help shape and create our circumstances in life.  “As A Man Thinketh, So Is He.”  When we change our thinking, we change our lives.
     
    What does it mean to change?  Change = to transform or convert.
     
    When we find ourselves stuck in a rut or not quite where we want to be in life, it is time for a change.  Old habits, old thoughts, and old ways of thinking must go.  We literally have to cleanse our minds of negativity, scars, conditioning, and mental blocks.
     
    Living Your Dream is a continuous process of training and transforming our minds to achieve optimal living.  There are many ways to begin the process of changing the way we think.
     
    What we feed our minds affect how and what we think.  When we bombard the mind with negative images, fears, bad news, violence, pain, and suffering, etc.…our mind responds by conjuring up matching thoughts.  When we feed our minds with positive images, good news, peace, happiness, and prosperity …our mind responds accordingly.
     
    Our mind will produce thoughts based on the information we provide it with.  The thoughts that our mind produces set a wheel of events in motion.  Thoughts are creative and whatever thoughts we find ourselves preoccupied with always manifest in our lives.
     
    What you do with your life is up to you.  Life is what you make it.  You have everything you need to create life, destroy life, improve life, and touch the lives of others.  For every cause, there is an effect.  Every life represents a mission, a purpose, and a cause.  What will be the effect on your LIFE?

    I promise you if you commit today to reach your goal with the help of accountability partners, and change your thinking to positive thoughts you will be in a much better place in 5 years.

    How do you visualize your life in 5 years?

    All long journeys start with one step.

    What one step are you going to take today?  

    #

    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.

    #bizcoachsteve #business #stevefeld #smallbusiness #smallbiz #entrepreneur #marketing #leadership #coaching #businessowner #businesscoach #businesscoaching #businesstips #entrepreneurship #success #entrepreneurlife #keynotespeaker #podcast #author #smallbusinessowner #speaker

  • START 2023 OFF RIGHT

    START 2023 OFF RIGHT

    14-DAY GOAL SETTING

    “Any road will get you there if you don’t know where you are going,” – Lewis Carroll

    ” A goal without a plan is just a wish” – Antoine de Saint-Exupery

    As they say, a goal with a plan is just a dream. Do you often find yourself daydreaming of having something-whether that’s a brand new car, increasing your monthly income-personal and for your business, but then never working towards that goal?  That’s because you don’t have a plan of action.

    This 14-Day Goal Setting exercise is for anyone who is looking to achieve a specific goal in their personal and professional life, no matter how big or small. If you’re unsure of how to go about starting on a path to achieving your goals, then this exercise is for you.

    By completing this exercise, you’ll gain clarity into exactly what you want to achieve in every area of your life and determine a clear-cut plan for how to achieve those goals. We will be focusing on your BUSINESS goals. Of course, you can apply this exercise to your personal life as well.

    The 14-Day Goal setting exercise outlines exactly what you need to do during each day of the challenge to be successful. We want you to set yourself up for a fantastic 2023 and take your business to the next level and beyond. Over the next year, we will be expanding on your business goals and providing you with some more information that you can use to achieve your 2023 business goals.

    Day 1 – THINK: Think about your business as it is now and write down the things that are most important to you for your business.  I.E. What do you want your revenue to be at the end of 2023? How many new customers do you want to have every month?

    Day 2 – IMAGINE: Imagine that you could wave a magic wand and make your business perfect in all areas. What would it look like? I.E. Having a team that is all on the same page, working effectively to grow your business.

    Day 3 – WRITE IT DOWN:  Using your thoughts from Day 2, write down each goal you’d like to achieve in your ideal business. Make your description clear and detailed in every sense. I.E. You need to make X number of calls a day to close Y number of clients that equal Z number of revenue per quarter, per month, per week, or day.

    Day 4 – DECIDE UPON YOUR MAJOR DEFINITE PURPOSE: Ask yourself: If I could achieve any business goal on this list within the next 2 weeks, which one goal would have the greatest positive impact on my business? I.E. Upgrade the computer system to streamline the sales process.

    Day 5 – SET A DEADLINE:  Think of a reasonable date for you to achieve your goal. If your goal is big enough, set sub-deadlines. I.E. Will upgrade the computer system on X day and test it out on Y day, everyone will be on the new system on Z day.

    Day 6 – IDENTIFY ANY OBSTACLES: Identify any potential obstacles that you will have to overcome to achieve your goal. Determine how to overcome each of them.  I.E. Getting the IT department to install and upgrade the system. Find an outside IT firm that can do the job within the next couple of days.

    Day 7 – IDENTIFY THE KNOWLEDGE AND SKILLS YOU’LL NEED: What one skill if you developed and did it consistently, in an excellent fashion, would help you the most to achieve your most important goal? I.E. If you are not well versed in accounting, speak to your CPA or take a basic accounting class so you can understand your numbers to make better decisions within your business.

    Day 8 – MAKE A LIST: Make a list of everything (every step) you will have to do to achieve your goal.  I.E. Just start a list of each step that needs to be taken to move your business from where it is now to the goal. 

    Day 9 – ORGANIZE YOUR LIST INTO A PLAN: Organize your list into a series of steps from the beginning through to the completion of your goal. I.E. If you need to make 10 calls a day, then your list should be made the day before on who to call with their contact information the day before, why you are calling, and even have your call script ready to go.

    Day 10 – WRITE YOUR PLAN DOWN IN AN AGENDA: Write down each phase of your plan in your agenda through the completion of your goal. Plan each day, week, and month.  I.E. Block time in the day to make the calls, then put the result of that call in your sales tracker.

    Day 11 – DETERMINE YOUR SUPPORT SYSTEM: Make a list of every person in your life that you will have to work with or work around to achieve your goal. I.E. Contact your CPA to have them explain your numbers. Contact an IT company to upgrade your system. ETC.

    Day 12 – MAKE YOUR GOAL PUBLIC: Tell others what goal you intend to achieve and by when, especially those in your support system.  I.E. Get a Score mentor and tell them your goals along with the result you want with the date you are going to accomplish the goal.  Join a mastermind group.

    Day 13 – PRACTICE VISUALIZATION OF YOUR GOAL:  Create clear, vivid, exciting, emotional pictures of your goals as if they were already a reality.  I.E. Visualize yourself, and your business after you achieved your goals. What does your business look like? How does that make you feel?

    Day 14 – DO YOUR FIRST TASK:  The hardest part is starting. On the last day of this exercise, complete the first task you’ve outlined for yourself and get started on the path to success.  I.E. JUST DO IT!! Your first task may not be perfect, SO WHAT?  Just do it! Do not put this off and start taking action TODAY.

    Following this 14-Day goal-setting challenge, it will get you to develop your 2023 business goals. Be as descriptive as possible with realistic deadlines. Get the people in place to help you achieve your goals.

    Every month we will give you more information to keep you moving forward in your business, but you need to know where you want your business to go before anything else. An archer needs to know where the bull’s eye is on the target before they pull the string back and fire an arrow.   Start today to be successful in 2023.

    #

    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 #stevefeld #smallbusiness #business #smallbiz #coaching #businessowner #businesscoach #leadership #marketing #speaking #keynotespeaker #meetingprofs #eventprofs #meetingstoday #businesscoachnearme

  • 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

  • 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

  • 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