Business Coaching Services

Business coaching services bring many advantages to the female entrepreneur who implements the strategies and understands the benefits. With any havoc that an under performing business can cast to every female entrepreneur there is, the lack of branding, marketing and planning is a big no-no. You are an entrepreneur who wants nothing more than entice more clients and rake in greater success in a business that is a product of your sweat and blood. Business coaching services can help you double, if not triple your business growth within a year or so. Expect to learn 3 of the major business coaching services that no mentor, relative or friend can impart to you as effectively as coaches could.

Branding. This encompasses the name, sign, design, term or symbol that is designed to allow the differentiation of goods or services between one business and the next. But don’t let this fool you into thinking that branding is about convincing your prospects to choose you over your competition. Rather, a process of getting your target market to see you as the only business that can provide them with their needs and solutions to their problems.

A good brand confirms your credibility, delivers your message clearly, connects with your target prospects emotionally, motivates your buyers and cements customer loyalty. It is crucial that female entrepreneurs cultivate a strong personal brand to establish and cement the desired perception that you want your target market to have of you. Only when you do this will you build enduring, highly successful and symbiotic relationships with your target market.

More often than not, branding proves to be one of the most challenging processes in any business, hence the need of a good business coach. The challenge remains, “dare to be your own brand”.

Marketing is one of the most crucial processes that breathes air into your business. It is one of the business coaching services that female entrepreneurs must learn. Marketing is not just about selling; it involves a profound understanding of your key audience and looking for ways to provide the services or products that they demand.

It is dynamic and involves several disciplines (i.e. public relations, sales, pricing, distribution and sales. It, therefore, permeates all areas of your enterprise. To simplify marketing, if business is a relationship between a man and a woman and the art of persuading one person to leave his lover, then marketing is all about looking for the right person to do the persuasion.

As a vital part of business coaching services, entrepreneurs will receive personalized one-on-one marketing coaching. It includes all aspects of managing and effective implementation of the marketing plan. Working with a business coach with a proven system is the best way to plan and implement a strategy that works.

Planning. No one should ever start a business without a comprehensive business plan. A business plan serves as your blueprint as it helps you create clearly defined goals, needs, calculated risks and steps that you need to perform to help your business establish a solid footing in the industry.

As one of the primary business coaching services, it helps your business go far more smoothly. By planning your business from the ground up, it eliminates risky business maneuvers, undefined and ambiguous business strategies that could thwart the success of your new business.

3 Common Mistakes to Avoid When Starting an Online Business

Although making money online seems to be very appealing and quite enticing, there are traps that one must avoid otherwise you will be another business failure statistic. More than 50% of business start-ups will fail within its first 5 years. In other words, your chance of failure is greater than your chance of success. If the failure rate is so high, what makes one want to start an online business?

There are many reasons why. Maybe you are totally frustrated with your daytime job and you feel trapped. You want to get out of the Rat Race. Maybe you are tired of working for someone else and it is time for you to be your own boss. Maybe you just lost your job and you have nowhere else to turn. Whatever the reason, an option of starting an online business has crossed your mind, otherwise you would not be reading this article. Let me make one thing clear. Starting an online business requires work.

If anyone tells you otherwise don’t believe them, run the other way.

If you want to start an online business allow me to share with you 3 common mistakes to avoid when starting an online business.

1) Starting an online business without a Game Plan
2) Not having the finances it takes to start and maintain an online business
3) Not Being Patient enough to see things through once you get your business off the ground

1) Starting an Online Business without a Game Plan:

Starting an online business can be very exciting however, before you jump in you must have a game plan. Can you imagine a football team going into a big game not having some sort of game plan? Take the time to put your ideas on paper. I know you have it all in your head, but that is not good enough. You got to write it down on paper. What is it that you want to accomplish? Write it down. What are your goals? Write it down. I know you want to make all this money, but be specific. Make 6 month goals, 1 year goals, and 5 year goals. What is the lifestyle you see yourself living in the future? Write it down. Although, this is not a hard task, many people start a business without knowing the desired outcome.

Now that you have your goals written down, create a game plan as to how you will get there. How are you going to arrive? At this point you may not know all of the specific details however you can have a general idea of how you will accomplish your goals. Put a Game Plan together and write it down. Then, visualize how you will feel once you have arrived. Create a vision board and see and act as if you are already there.

* What is it that you want to accomplish?
* Write a Game Plan as to how you will get there.
* Visualize as if you are already there.

2) Not having the finances it takes to start and maintain an online business:

There are expenses associated with starting an online business. It takes a little bit of money to make money. Although, there are many free online tools that can help you build your business, there are some expenses. Some of these costs are one time cost however there are some fees that are recurring monthly expenses. You must plan and account for expenses. Before starting an online business you will need to set some money aside to get your business started. Once you get your business up and running and you start making some money you may want to consider outsourcing. This will free up your time, however this is optional.

* Register a Domain Name
* Host your Domain Name
* Aweber account to gather a list
* Outsourcing (optional)

3) Not Being Patient enough to see things through once you get your business off the ground:

Starting an online business means you will need to nurture your business constantly. I like to relate a business person like a farmer who wants to plant a peach tree. He starts with a seed, soil, water, sunlight and fertilizer. Once the seed is planted the farmers work is not done. If so, the farmer will never see the fruits of that tree. However, if the farmer nurtures the seed daily by giving it proper sunlight, water and fertilizer in due time the farmer will reap the rewards of his patience and dedication of his daily care. So it is with starting and maintaining a successful online business. You cannot just start it and let it go and expect to rake in all this money. It will take time, however, if you are patient and dedicated and nurture your business properly your business someday will take care of your family financially.

Summary:

Owning an online business can be one of the most rewarding things you will ever do. There are certain expectations required to run a successful online business. Anyone can start an online business, but I do not think that is your goal. I would think your goal is to start, run, and maintain a successful online business for years to come. Like I said anyone can start a business, but not anyone can run a successful business.

Don’t Operate Your Small Business Like It Is Small

With 46% of small businesses failing within the first 5 years, they simply cannot afford to operate “small” any longer. Big businesses, aka Fortune 500 companies, understand the value of setting up a business with predictable, manageable systems and having the necessary framework in place to ensure profitable and productive results.

The 7 Big Business Tools:

There are 7 tools that all big businesses use within their organizations to ensure higher profits, higher quality, and increased customer satisfaction. Applying these tools to your small business will increase your chances of staying in business longer and give you more control of its operations, profitability, and get you out of a “small” business mentality.

1. Organizational Charts

Organizational charts outline the functions that are required for a business to run on a day-to-day basis, as well as the person responsible for that function. This tool determines the “Who” of the business. Organizational charts also drive accountability for each area of the business and outline clear responsibilities.

Big businesses have figured out that while it is important to have people lead each of the functions, it is even more important to make sure the skill level and competencies of that person match the role. As a majority of small businesses typically have a small staff, roles are often filled by whoever is available. This mistake could lead to inefficiency and prevent the business from operating at its peak level. Completing an organizational chart will help identify the gaps that exist in the skill set of current employees and should be developed even when there is only one person in the business. This activity will allow for future growth as the business is expanded to include more and more employees.

Remember: The more times one name appears in an organizational chart, the less productive and effective it will be!

2. Operations Manuals/ Procedures

Operations manuals and procedures document the tasks that are to be done within the business. Use this tool to capture the “What” of your business. This will serve as a step-by-step guide on how to complete each task and give clear expectations of how your business is to run. This documentation can also serve as a training aid for new employees, allowing them to ramp up faster, and reduce the amount of time you have to spend training. This tool will reduce the variability in output and quality that can occur when employees are allowed to do it their own way, in effect making it their business.

If there are no employees within your business, use procedures to help you become more efficient by performing tasks the same way, every time. You will also reduce wasted time remembering how you completed a task previously.

Be sure to review your operations manuals and procedures periodically for relevancy and areas of improvement. Have you found another way of doing things more efficiently? Does the task take a significant amount of time? Look for steps that may be duplicated, can be removed, or take a lot of time to complete. Conducting this review will lead to continuous improvement within your business.

3. Business Systems

Given the complexity in most big businesses, they always have systems in place to make sure their operations are set up to flow smoothly and reduce the chaos that can occur when there are so many functions and employees. Small businesses can take advantage of the benefits of having a systemized business as well. Systems are no more than how the tasks and functions interrelate to deliver a completed product or service. Having a system in place allows you to produce the same quality results every time, which in turn leads to increased customer satisfaction. You can describe this as the “How” of your business.

For businesses with only one person (the owner), set up business systems that automate some of the key tasks. This will give you more freedom to work your on business and strategize, rather than in your business doing a lot of the mundane tasks. You will find that you will have more time to grow your business when most tasks are systemized. Business systems produce a highly organized business and can also be used as an effective management tool for owners since feedback can be gained about your business performance when things don’t work as expected.

4. Process and System Audits

Auditing your processes and systems asks the question “Are we doing what we say we are going to do?”. When you have taken the time to document the key tasks in your business, it makes sense to periodically review whether or not the procedures are being followed. If they are not, then find out why. Auditing allows you to qualitatively measure how well your business is performing.

Take it one step further, and check for the effectiveness of the system, not only the compliance to it. An easy way to do this is to look at your customer satisfaction measures, the number of errors or defects you are getting, and how easy it is to follow your process. Often times, while all of the procedures are being followed, they may not be producing the results that are intended, so auditing can help you uncover these issues.

Use auditing within your organization to drive accountability, and make following the process a habit. Not only will you improve the efficiency of your business system, but you will continue to make your business better, meet your customer expectations, and consistently meet business goals.

5. Key Metrics and Reporting

Metrics are the key data that you need to make business decisions. As the old adage implies, “you cannot manage what does not get measured”. Your key metrics are a snapshot of how well you business is performing. Use these measures to quantitatively assess your output.

An easy way to determine what your key metrics should be is to ask: What do my customers want? What is important to them? The answers to these questions will be become the standards by which you measure your business. Other metrics can include weekly sales goals, revenue goals, or the number of calls made to prospective clients.

After key metrics are determined, institute a regular reporting of the results and look for trends upward or downward that need correction. Use dashboards that can be set up easily in an Excel spreadsheet program for quick access to the data and results. Also, be sure to tie the metrics to the functions in your business to increase accountability for the results.

In addition, consider using your metrics and reports as a communication tool to clients and prospective clients. Show how you differ from your competition, and what you can do for them relating to customer service levels, response time, or any other measure most important to that audience.

6. Six Sigma Process Improvement

A highly utilized efficiency tool used in Fortune 500 companies, Six Sigma is a data-driven methodology for reducing the number of defects within a business system. It will demonstrate quantitatively how well a process is performing and focus on variation (what the customer sees and feels) reduction.

Big businesses use Six Sigma to reduce lead time, excess labor costs, and processing times, saving them millions of dollars annually. Small businesses can also realize the benefits of applying this process improvement tool in the same way. Use of the tool increases customer and client loyalty as they know what they are going to get every time.

Find out more about Six Sigma and its benefits here at the iSixSigma website: http://www.isixsigma.com/.

7. Problem Solving Tools

There are different ways to address the issues that inevitably occur in businesses. Have a toolbox of problem-solving methodologies to solve the different problems that occur. This will allow for rational and data-driven decision-making, and help you get to the root cause of the issue. It is widely understood that if you solve the problem well, and eliminate the root cause of a problem, the problem will not re-occur.

Some commonly used problem-solving tools include:

Brainstorming
Root Cause Analysis
5 Whys
Cause and Effect Analysis
Flow Charting
SWOT (Strengths, Weaknesses, Opportunities, Threats) Analysis

All businesses have problems, and that is actually a good thing! Look at problems as opportunities to improve, and as simply the difference between the current state and your business goals. Become familiar with the various tools available, and train your team to apply the tools as well. This will increase your confidence in the decisions being made in the business, and ultimately free a business owner from having to be involved in every business decision being made.