Entrepreneurs and small business owners have many unanswered questions. Some keep them awake at night, become a distraction during dinner, or remain one of life’s mysteries. As a strategic coach, one of the questions I want to ensure you have answers for is “what topics can I discuss with a strategic coach?”
Here are a few options to consider:
- Grow revenue
- Improve performance
- Enhance productivity
- Upgrade effectiveness
- Sharpen skills including qualifying prospects, networking, closing sales, listening
- Launch new product/service launch
- Grow profits
- Invigorate current product/service offering
- Refine your business concept
- Update your business model
- Pricing and/or proper rates
- Create or refine your strategic plan
- Lead generation strategies
- Expand brand awareness and/or market share
- New client acquisition strategies
- Develop exit strategy for your business
- Inbound marketing strategies
- Organization
- Reduce stress and/or overwhelm
- Time and/or Goal management
- Accountability
- Develop and/or refine ideal client profile
- Setting priorities
- Develop greater clarity and/or focus
- Improve self-care skills
Each business differs in its challenges and opportunities, which is why a customized approach to strategic coaching is most effective for getting the results you want. You can make the most of your strategic coaching by understanding and communicating your needs, preparing for each coaching appointment, commit to take action, and develop a willingness to do things differently or consider different options. After all, isn’t that why you hire a coach?
In the 14 plus years I’ve been a strategic coach, one of the greatest challenges faced by many small business owners and entrepreneurs is their ability to act upon the very plans and projects designed to grow their business. Overwhelmed by the many actions requiring what feels like “immediate attention”, the more important growth projects get put off until “tomorrow”. You know how this story ends, don’t you.
To put your business into a growth mode, consider the use of the “WWH” growth plan. “WWH” stands for the following:
What needs to be done
When will it be done
How will it be done
Here’s how you can grow your business with strategic coaching:
Create my 2012 strategic plan
Friday, February 3rd, 10 am – 2 pm
Schedule this in your calendar as an appointment with yourself. This prevents you from becoming distracted by other activities or putting off this vital activity until “tomorrow”.
1. Turn off all phones and email
2. Gather critical data from 2011
3. Re-evaluate and reset 2012 goals
4. Conduct necessary research
5. Develop my plan
6. Set up metrics
7. Schedule time each month to assess status and tweak the plan, if necessary.
You get the point. Sounds so simple, doesn’t it? Yet it’s not as easily applied because of the habits that already exist.
What would happen to your business growth if you were to implement strategic coaching for yourself and apply the “WWH” growth plan for one month? What have you got to lose?
Are you satisfied with the number of clients you have? How often do they return for repeat business? Do you make it easy and enjoyable for them to do business with you? If not, analyze your business’ moments of truth to create positive, lasting impressions of you and your company that will turn the most skeptical client into your company’s biggest advocate.
So, what is a moment of truth? It’s a sliver of time when clients or prospects interact with you and your business and decide whether or not to do business with you, to share you with their network, or to use your products/services again and again. Jan Carlzon, in his book, Moments of Truth, defines them as “anytime a customer comes into contact with any aspect of a business, however remote, [as] an opportunity to form an impression.”
The role of a strategic coach is to ensure your business makes the right impression when interacting with clients and prospects. By strengthening the moments of truth in your business, a strategic coach focuses on accelerating your business’ growth by ensuring your clients remain on the continuum of the “Nine Steps for Building Virtual Trust.” The result is an increase in client acquisition, retention, and sales.
A strategic coach advises business owners to be aware of common moments of truth, such as:
- When someone views your Web site
- When someone receives your business card or brochure
- When you answer the phone
- How you interact with a prospect during a sales appointment
- What you post on Facebook, Twitter, LinkedIn, and other social networking sites
- How you handle a customer complaint
- How and when you respond to requests for information
- When a client receives your billing statement
Moments of truth can seem insignificant to a business owner when they’re happening, but clients may have an entirely different reaction. For instance, if a potential client calls you and you don’t give them your full attention because of an office distraction (whether you think your attention is diverted or not), his or her impression may be that you are unfocused, unprofessional, and perhaps unworthy of his or her business.
Some common questions your strategic coach asks to define and improve upon the way you handle your moments of truth include:
- What are the various touch points (such as your Web site, meeting at a networking event, sending an email, leaving a voicemail message, etc.) during which a potential client has an opportunity to “experience” your business and develop an impression?
- What is the current impression your clients and prospects experience?
- What is your intended impression?
- What changes need to be made to ensure each impression is the one you want your client to experience?
- Who will make those changes?
- By when will those changes be made?
- How will you measure the effectiveness of your changes?
Regardless of the moment of truth that’s holding your business back, uncovering your moments of truth ensure you make the right impression. As clients benefit from a consistently positive experience, you can count on them returning for repeat business.
Everyone is involved in the profession of selling. You sell your product or service. You sell your children on wearing their coat to school. You sell your friends on having dinner at your special restaurant.
Even though you’re actively involved in the selling process on a daily basis, many still shun the idea of being an official card-carrying member of the sales profession. Could this be due to the fact that the sales profession continues to carry somewhat of a less than stellar reputation in one’s mind? Is this outdated paradigm influencing your perceptions …and behaviors?
How does a true sales professional conduct themselves around today’s highly educated consumer? Take the following test to see how your sales skill sets measures up in the 21st century.
Respond to the following statements with Yes or No to identify your sales competency.
- I exhibit natural warmth toward others.
- I personally touch my clients with a personal call, personal note, or some form of communication at least every 60–90 days.
- I actively listen to the needs of my clients.
- I focus on the needs of my client rather than on my needs.
- I seek feedback when necessary to clarify the needs of my client.
- I am consistently happy to see my clients and it shows.
- I fully disclose all the necessary information to my clients to help them make an informed decision.
- I have a spirit of helpfulness and cooperation.
- I continually educate my client on their options.
- I am very knowledgeable about my product and/or service.
- I deliver and follow-up with each client promptly.
- I ensure that I “complete the circle” with each client interaction.
- I promptly provide service after the sale.
- I easily establish trust and rapport with my clients.
- I flex my style, mood, and communication to match that of my client.
If you answered Yes:
3 – 4 statements: This is a new skill for you. Explore. Learn. Apply.
5 – 7 statements: You’re off to a good start. Study. Observe. Practice.
8 – 10 statements: You’re in a growth mode. Rehearse. Perform.
11 – 12 statements: You’ve reached a level of mastery. Share.
Business is an entirely new and different skill foreign to most of those who launch and grow a business.
Most people come to the world of business skilled in their particular craft. Be it photography, web design, automotive repair, chiropractor, or healthcare yet few come prepared with the unique skillfulness required to grow a successful business.
Just as going out for a run each day doesn’t make you a capable runner, owning a business doesn’t make you skilled in the art of running a business. In fact, in many ways, not knowing – or being untrained – can actually be more damaging as one develops poor habits that ultimately create poor performance.
If you’re going to be a skilled business owner – having acquired mastery – you need to learn business with the same fervor with which you mastered the craft you are selling.
Think about it.
Despite the enormous devastation occurring in New Zealand and Japan, the National Research Council released a new report this morning stating that Americans are not ready. That’s really no surprise, is it? The report indicates we’ve been lulled into a false sense of security. Even that statement is shocking given the bizarre and destructive weather experienced throughout the US this winter. It’s time to take the time to prepare for whatever disaster your location may experience.
Here are a few disasters to consider ensuring you’re properly prepared:
- Earthquake
- Floods
- Winter storms/blizzards
- Hurricanes
- Gale-force winds
- Volcano
- Wildfires
- Tsunami
- Tornado
- Thunderstorm and Lightening
- Fire
- Extreme Heat
- Pandemic
- Radiation
- Terrorism
Further considerations may include:
- Develop a disaster communication plan with family and friends
With whom do you need to communicate? Do you have a critical contact outside the disaster area that can notify other family and friends in the event there is an interruption of cell service in the disaster area? Social media is proving to be a vital form of communication. Do critical contacts follow you on social media? Can you access your social media sites via mobile communications?
- Prepare for disasters at home, work, school, or on the road
Don’t get caught on the road with your earthquake preparedness kit at home! I know it’s tedious preparing two kits. How do I know? I’ve done it! Yet you can never be over-prepared when disaster strikes.
- Provide for employees (and clients) should a disaster occur during hours of operation
As discovered in Japan, the earthquake occurred during work hours. With transportation disrupted, employees found themselves unable to return to their homes. What do you need to ensure your employees are well-cared for should they need to seek shelter at work for 3 – 4 days? What will you need to provide for clients who may be on the premises?
- Arrange for continuation of services provided by your company to your clients
Do you have clients that rely on your company’s services in areas not affected by a local disaster? What system have you established to provide ongoing service to clients in need? Is it redundant?
- Build a cash reserve
As we learned during the economic meltdown of 2008, companies lacking cash reserve quickly find themselves unprepared and out of business. Don’t let that happen to you. Start today to build a cash reserve that can carry you and your business for at least six (6) months.
- Make certain you’re properly insured
Insurance is really about protecting your future.
- Establish your disaster relief procedure
FEMA (Federal Emergency Management Agency) is a good place to start. You can find information specific to disaster preparedness for your area at http://www.fema.gov/areyouready/.
Don’t rely on anyone else to look after you in the event of a disaster. Do your part to protect yourself, your employees, your clients, and your business.
During my 20’s and 30’s, I was running … running my business and my health into the ground. There wasn’t time for physical activity. Like many entrepreneurs, I was busy building my business. Unfortunately, while keeping my business on track, my health was veering off track.
At the age of 40, jarred by a health crisis and a physician who said I’d “never climb a mountain or run a marathon”, I vowed to climb a mountain and run a marathon…and return to my natural healthy state.
My first-hand experience taught me what studies are now confirming … that physical fitness has a significant impact on business fitness.
A study with 366 entrepreneurs demonstrated the relationship between sales and the amount of rigorous exercise performed by the entrepreneur. The study measured sales against running and biking with sales against weight lifting. The study demonstrated that while running, biking, and weight lifting influenced the entrepreneur’s ability to meet personal goals (personal satisfaction, independence, and autonomy) only those entrepreneurs who incorporated running and biking into their program were able to demonstrate a significant improvement in sales over those who did not.
Entrepreneurs have a wider range of responsibilities and pressures than the average businessperson. Lacking the depth of resources, entrepreneurs are juggling multiple roles and responsibilities of being salesperson, marketing director, spokesperson, negotiator, bookkeeper, administrator asst. and technician delivery the service. In addition, they have to bear the costs of any mistakes made.
It’s challenging to justify exercise when one could be selling, marketing, or growing their business even though numerous studies show exercise reduces stress, stimulates creativity, and improves self-esteem. Unhealthy habits and subsequent risk factors are dangerous to entrepreneurs and their business. Lack of sleep and exercise, unhealthy foods, and high stress don’t keep entrepreneurs performing at their best.
Now we know … working out improves not only your waistline, but your bottom line as well. Apparently you do have to move it to make it.
Toleration is a term coined by the late Thomas Leonard, a founding father of the coaching industry. Defined as things that “bug us”, tolerations are a major drain on our energy. In fact, did you know that as much as 80% of one’s life is built around tolerations? Yikes! That’s a lot of wasted energy that could be invested in more constructive activities to move you forward.
Tolerations are like sand in the machinery of life. Although seemingly small and insignificant, they easily wear you down, make you tired, cloud your judgment, and fog your focus. That’s no way to spend your day.
Tolerations occur in all areas of our lives. We put up with things around our house. Think of that cracked paint on the trellis or the chip in the kitchen window from the kids playing kickball in the backyard several years ago. Not enough to warrant an emergency but just enough to capture your energy each time you pass by and say to yourself, “I need to get that fixed.” Like open files on your computer, each requires energy to remain open and slows down the speed of other programs currently in use.
Tolerations crop up at the office with cluttered desks, messy files, and mediocre performance. They arise with automobiles low on gas crammed with empty fast-food bags. They show up in our health when we eat at our desk, on the run, or from that fast-food bag in the car. Tolerations surround us.
If tolerations are such a drain on our energy, why do we tolerate? Part of our willingness to tolerate comes from how we’re raised. Do you remember your parents saying “don’t rock the boat”? Other tolerations come from compromises we’ve talked ourselves into. And, some of our tolerations exist because there’s a payoff.
Are you ready to stop the tolerations keeping you from your potential? If so, here’s a few steps to get you started:
- Tune in to all the things that “bug you”. As the antennae goes up on your awareness, you’ll be amazed at just how much you’ve invested in toleration.
- Keep a running list of your tolerations over the next several days.
- Identify the hard and soft costs of your tolerations. Hard costs are those known and measurable (i.e., the cost to replace the kitchen window). Soft costs are those less easy to identify (i.e., energy tied up in projects not related to your goals).
- Select the “costliest” toleration and eliminate it. But don’t stop there! Eliminating the cause of the toleration ensures it won’t return.
- Continue through your list until you’ve eliminated all your tolerations and their causes.
Once you start saying goodbye to those things that bug you, you’ll be happier, more fun to be around, and have much more energy to invest in moving your business forward. And isn’t that something to look forward to!
Even with the best intentions, a ‘to do’ list can become a gathering place for all things – including those we have the best intention of checking off our list. If, however, your ‘to do’ list gets too long, you’ll soon feel overwhelmed and stuck in neutral.
Are you feeling that way at this very moment? If so, stop what you’re doing and take 10 minutes to declutter your task list by asking “Where does this belong?”
- Do it – This is a good action to take for all tasks that take less than 2 minutes to complete
- Delegate it – If you can’t delegate the entire task, is there part of the task that could be delegated that would keep you moving to it’s completion?
- Dump it – Let’s face it. Many a task that seemed so important when placed on the list tarnishing with time. If it’s really no longer a priority – or in alignment with your goals – it may be time to get it off your list completely.
- Deposit it – I really want to say “file” but it doesn’t rhyme with the other actions. Whether it’s a file or a drawer or your calendar, if its important enough of a task to remain on your “to do” list, put it where it will get done.
Remember the quote from William James , “Nothing [is] so fatiguing as the eternal hanging on of an uncompleted task.” <Sigh>
What have you found helpful in keeping your “to do” list manageable?
It was the fall of 1995. A United States aircraft carrier was cruising off the coast of Newfoundland when the radio operator notified the bridge of a rapidly approaching vessel. The Captain immediately got on the radio and requested the Canadian vessel to divert it’s course 5 degrees to the south to avoid a collision.
To this, the Canadian radio operator requested the U.S. carrier to divert it’s course 15 degrees to the south to evade the collision. This went back and forth until the Captain of the U.S. aircraft carrier, rather indignantly responded, “This is the aircraft carrier USS Coral Sea. We are a large warship of the U.S. Navy. Divert you course immediately. To this the Canadian radio operator replied, “This is a lighthouse. Your call!”
Ouch! This chronicle aptly describes the life-altering phenomenon known only too well as a stable of the 21st Century — change. Known for striking angst in the hearts of even the most fearless, change is constant.
By embracing change as an expected part of business, you can lessen stress, minimize resistance, and encourage progress. There are, however, fundamentals that serve as anchors to aide you in finding and staying on course, including:
- Beliefs – knowing that which is true about your staff, your self, success, earning aptitude, growth capacity
- Vision – what you see as inspiring to attain
- Mission – the purpose you’re called upon to realize
- Values – key cornerstone ideals upon which your business is built
- Gifts and talents – ways to utilize the genius of you and your staff in making the most of opportunity and challenge
- Principles – doctrines, ethics, and ideologies that serve as your rudder
- Standards – personal performance benchmarks to which you hold your self
- Sense of humor – likely to develop daily
What “anchors” help you stay the course?