Category Archives: Press

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8 Key Ways Innovation Can Help Business Owners Catapult to Success

Posted on by petergwaction

What’s your definition of effective innovation? A clever idea? A novel product or service? As the owner of a business coaching firm, the key word for me is “effective”, and for innovation to be effective, it has to make my company money.

Dreams, wishes – these are all great things, but unless they bring in capital, they’re just air. So, here are some places to start to make innovation work for you!

1. Effective innovation requires the right “pricing” vehicle.

Pricing is tricky. It involves your needs as well as what your customer considers fair. But, either way, innovation will not be effective without the right business model:

* Cost-plus pricing – the easiest, yet sometimes criticized method involves setting the price at what it costs to produce/provide service, including expenses, adding in your target profit margin.

* Target-return pricing- set your price with the goal to get back money invested in the company based upon the projected sales. If you invested $10,000, how many products or services must you sell at what price point to get your money back in a specified time frame?

* Value-based pricing – the most “psychological” of the three involves pricing the product based on its value to a customer. If you’re product saves them 3 hours of productivity a day, for someone who made $50/hour, that’s $150, so you could probably charge $75 or more for it.

* Fair-Value pricing – setting your price at what the market supports. If customers want something badly enough, they’re willing to pay ridiculously high prices for that product. Just look at Tickle Me Elmo that customers were willing to pay $600+ for so their kid could have one for Christmas. But, customers are also saavy shoppers and know what the going rate is for products and services. The challenge is balancing your needs with their willingness to pay.

2. Innovations needs to be re-invented.

Large companies with huge budgets can brand their products and have that branding last for 10, 20, 100+ years, but good ideas are often copied and become common and no longer innovative. We see it in advertising all the time (buttons, badges, “likes” etc.) The irony is, if you become TOO innovative, you’ll lose the “stickiness” necessary for viewers to grow accustomed to seeing your product or service. So, there’s a balance you need to have to even out innovation and previously successful ideas.

3. Innovations come from making concepts “stick” in the minds of your customers.

I will never forget a shaving company’s line that went something like, “Our razors are so safe, even a baby can handle them”. The next image is a bald guy covered in shaving cream with clean razor-track cutting across his scalp. Behind him is a baby holding the foamy razor. Sometimes innovation means coming at your product from a completely different angle. Business coaching has nothing to do with marriage, yet we were able to show parallels between business ownership and getting married in order to sell our services. Again, it all gets back to “what sticks” in your customers’ minds and hearts.

4. Innovation is sometimes driven by going in the “exit” and out the “entrance”.

What if all streets were “one way”? How frustrating and boring would that be? Sometimes going “out” the “in” can be as simple as thinking of your existing product as your competition, and out-do yourself. The reason this is “forward” thinking is that eventually your product or service is going to need some renovating, and if you don’t have a product and/or service to replace or enhance it, you might as well go by way of the Titanic. Think of your product or service like you’re the product or service’s competition. How would you improve upon it? When you’re in a vehicle, you can look out the windshield at where you’re going, or out the back winder at where you’ve been. Turn the car around and you can look out the back window to see where you’re going and out the front window to see where you’ve been. Same vehicle – just a different view.

5. Who says innovation can’t be well thought out?

Of course innovation can be carefully planned. Perhaps the ideas will have to be new and hopefully surprising, but one can still save space for innovation and encourage it within the company. One company I was affiliated with gave incentives for innovative ideas that became part of the company culture in the form of $500 gift cards. Normally, innovation starts with the spark of an idea. Brainstorming often leads to different ways to approach the idea. Then one has to lay out the new idea, test it, and voila, a new concept is born.

6. Innovation that results in changing people’s lives is the crowning touch.

Ask customers what they want and you’ll get as many answers as the number of people asked, and then some. You simply will not be able to please everyone – so quit trying. Improving on something is not creating a new innovation. It’s just creating a derivative on an existing idea. And there’s nothing wrong with that. True innovation is revolutionary. The resulting change is mind-boggling. We’ve seen it all through life. The Pony Express was replaced by a postal system. The horse and buggy was replaced by the automobile. Typewriters were replaced by computers. The list goes on.

7. Innovation requires tough skin.

Sticking to your guns will be hard if everyone is poo-hooing your concept. But, if you don’t believe in it, why should anyone else? Many times you have a vision and are so clear about your idea, but when you try to explain it, you’re faced with blank – or worse, doubtful – looks. Learn the art of explaining things in different ways, remembering that some people are visual, others are auditory, and still others are kinetic processors. Speak their language when trying to share your ideas. Develop a Teflon attitude and let the criticism slide off you. It doesn’t mean you aren’t listening and taking note, but it does mean that you protect yourself and stay true to your ideas.

8. Business Owners have “hire” expectations.

Innovators are your “1st” string players on your team. They are not only full of ideas, but can work independently to execute their plans. “1st” string players require less training and are eager to get things moving forward. “2nd” string players are good at doing what they are told, but often need innovative motivation! “3rd” string players are just what corporations love: the do-as-you-are-told types. A company full of “3rd” sting players will not advance. This last group likes routine and doesn’t favor change. There’s a place for each string, but hiring innovative people might be just what your company needs to excel.

In all . . .innovation is like a planted seed. With the right environment and conditions, innovation can flourish and help your company catapult to success.

When Business Owners Ask, “What’s Love Got to Do With It?”

Posted on by petergwaction

When a business friend of mine and I found ourselves comparing business to marriage, love came up. He snapped, “What’s love got to do with it” adding, “Business is business, my friend.  Marriage is hell.” Well, as most business owners know, business can be hell, too, and quite frankly, not all marriages are doom and gloom.

Still, let’s stay with the marriage analogy for a moment. Certainly, when two people first feel a mutual spark, things are wonderful and exciting. And when a budding business owner decides to try his or her hand at running a business, the buzz is equally electrifying.

Courtship:

Just as couples date, an entrepreneur “courts” an idea, weighing a lot of factors, including money, management, time, and commitment. All are important parts of the process.

Nuptials:

Marrying couples certainly hope to prosper, just as a new business owner hopes to prosper. And both must come to the moment of saying, “I Do”, cementing a commitment. Well, that’s the initial idea, anyway. But what exactly are they “I doing” to?

Ah. The “agreement”.  Yes. In business, it’s imperative, but what if I told you a lot of business owners have passion, persistence, patience, push (drive), and perseverance, but lack one of the most important “p”s of all: a Plan. In business, it’s important to have a clear plan and a business coach can help you build one.

Honeymoon:

For business owners, the honeymoon period may not be as exciting as bedding their bride or groom, but few new business owners I have spoken with have not felt a certain “high” after making the commitment. “I am terrified,” one admitted to me recently, “but in a good way.” And while the initial honeymoon is also a time to set up shop, get affairs in order (ah, ah…the other kind), determine roles and set goals, it’s a time of wonderment and giddiness, and then reality sets in.

Commitment:

As the honeymoon wears off and the “couple” starts looking more seriously at their future, often the topic of starting a family comes up. For the new business owner, this could equate to new product, or growth, or expansion. Ironically, when families start having kids, the husband often feels a little left out in the beginning, and when business owners expand, the spouse often feels a certain similar feeling of loneliness. A friend calls it “Ignorance” with the emphasis on the “nor”, yet it stems from a similar word of the same spelling, ignorance, with the emphasis on the “ig”. Few of us like being ignored, yet when the pressures of supporting a family, or supporting a business kick in, we’re often spending a good portion of our time “trying to keep things running smoothly” and not paying attention to each other.

7-Year Itch

And then “it” can happen. In marriage, sometimes it’s the seventh inning stretch, where we want a break and the grass starts looking mighty green on the other side of the fence. In business, we’re lucky to make it to five years, but the itch of envy and “wanting” can still creep in. My motto is “absence makes the heart grow fonder,” but the business friend whom I opened this article with has a different way of looking at it. He’s fond of saying, “Absence makes the heart grow fonder – of someone else.” In case you’re wondering, he’s no longer married. But the point is, a weakening in our armor, whether we’re male or female, can lead us to making decisions that may not be the best for ourselves and our “marriage” – whether we’re talking spouses or businesses.

Divorce

Then that day comes, when the thin threads of reason snap. Ending one’s marriage is at the top of the list of stresses one can go through, as is losing one’s business. It doesn’t have to happen in all cases, but in some it will and it does. The thing to remember here is that love and loss whether in marriage or business, follow Elizabeth Kubler Ross’s Five Stages of Grief:

Denial, Anger, Bargaining, Depression, Acceptance

There’s no getting around it, nor should there be. Everyone has to go through these stages when the unfortunate happens. But just as love is not always enough to save a marriage, a love for your business is not always enough to save your business.

That’s where a coach can come in. A business coach in today’s economy is almost a must to have on board to succeed. But one need not wait for the business to start showing cracks to seek help. As a matter of fact, introducing a coach right away can not only save one’s business, but can turn one’s business into an operation that allows you time to share with family, friends, and time for yourself. I cannot stress this enough.

So, back to the initial question, “What’s love got to do with it?” The answer is everything – including the ups and downs and in betweens of keeping one’s business and/or marriage prosperous. But in business, love is not enough.

And when you realize that, you’ll call a business coach.

9 Steps To Creating a Solid Marketing Plan

Posted on by petergwaction

In business, failing to plan sends up one big red flag about you: you’re planning to fail. Still, I know of no business owner who goes into business with the idea that they want to fail. So, what’s one leading cause of failure in business: a faulty or non-existent Marketing Plan.

Without a solid Marketing Plan, business owners spend excessive amounts of money on ineffective marketing.Think of it like taking a trip to a place you’ve never gone before without a map. True, it might be an exciting journey, but chances are, you’ll use excess gas driving around and around in circles, getting nowhere fast, eating up something valuable that you can’t get back: TIME.

But it doesn’t have to be that way. What you can put in place today can save you hours and hours of time tomorrow and in your future,and can turn a teetering business into a commercially profitable enterprise, affording you time to work ON your business rather than 24/7 IN it. Here are the nine essential steps we teach when business coaching:

DEFINE: First and foremost, define what the role of your marketing is.

VISUALIZE: To accomplish this, you need to have a vision for your company. Using the map analogy again, think of it this way. You have to know where you’re going to figure out how to get there.

CALL TO ACTION: Be clear on what you want potential clients to do? If you want them to call, be clear about why and what you’ll tell them when they do. If you want them to visit your website, be clear on why and what they will gain by following your direction. Years ago there was a clever bumper sticker going around. It said, “Don’t follow me, I’m lost.” You don’t want potential customers to put that figurative bumper sticker on your business.

VALUE: To ask what you want potential customers to do is also to imply that you have to know what they want. If you are singing “Who’s” classic, “Who are you, who, who, who, who,” then you have a ways to go before reaching your audience. Obviously, different people want different things, but you have a service or product you feel will help them, and you must think them as individuals, not groupies.

COMPETITION: To know your competitive edge, you must know your competition. When you visit their sites, are you impressed, repelled, envious, disgusted? Study them. What do they do that you like. What do they do that you hate? UPS delivers, but for business owners, USP (your unique selling proposition) delivers. If you don’t know what your unique selling proposition is, how will your customers? Define it!

BENEFITS: One way to determine that is to think of the value you offer the customer you are trying to reach. If it’s all about you, you’ll turn your potential customer off, but if you show them how they will benefit and back it with testimonials and proof, you’re halfway there.

MEASURING & TRACKING: We’re in an age of social media, from Adwords to Zonk and everything in between, but social networking is only as good as the person who knows how to master it. If you’re not proficient in social media, find someone who is. 50% of marketing is wasted ONLY if you don’t know which 50% it is. Just ask Henry Ford. The key is measuring and tracking responses, coding each campaign, and having a system in place as a means of identifying and capturing leads.

BUDGETING: “Money, money, money, money!” may have been a key lyric for the O’Jays in their son, “For the Love of Money,” but for business owners, marketing is budgeting and important budgeting at that, for marketing is not an expense – it’s an investment. In order to know how much you are going to spend, you need to be clear on the Return on Investment (ROI) you want to gain.

FLEXIBILITY: It’s not just for rubber. While a solid plan needs to have the backbone of steel, it also needs to be flexible in the event that changes need to be made, and believe me, you should revisit your marketing plan every 90 days and assess what’s working, what needs changing, and establish a new goal.

ACTION: No plan is effective without Action. Putting that Action into place takes strategies and processes that are proven and guaranteed. No amount of wishing makes something come true. A colleague of mind bends a favorite expression and says, “Practice what you Reach”.

My motto is: no games, no gimmicks, just results for a reason. Here’s to your success.

If You Give a Girl a Freebee…

Posted on by petergwaction

Are you like me? Any time I hear free anymore, I freeeeak out.

Yesterday, for instance, I was offered a free sample at the store. The tiny paper cupcake mold that was put in the palm of my hand had a smidgen of lasagna in it, which I devoured in seconds. The server asked me how I liked it and I had to admit it was delicious. But I didn’t need to answer; my face said it all and she even handed me a second free sample. As I chewed, she pointed down the aisle to let me know where to find the assortment of lasagnas.

I thanked her with every intention of wheeling my cart down a different aisle, but that would have been rude, so “squeaky” and I rolled to the section that housed the luscious lasagna. What do you know! It was on sale for $9.99.

I came to the store for dog biscuits, yet here I was, buying not one, but two boxes of lasagna and a large box of doggie treats. My “freebie” just cost me upwards of $20 bucks. Sound like anyone you know?

Well,  it didn’t stop there. That night, as I waited for the oven to warm, I flipped the box over and scanned the ingredients, forcing my eyes to focus on the calorie intake.

The cheeses, sauce, meat, added up to 1500 calories. My daily…not mealy…daily intake should be around 1200 max.

Looking away, my eyes rested the gym membership notification that had just come in the mail. Only $20 a month. “But,” I rationalized, “why would I need to go to a gym when I can exercise right here at home for free?” I didn’t have a pool, however, and swimming was such good exercies.

I stared at the fish in my fishbowl, suddenly realizing one thing I had forgotten at the store was fish food. After stuffing myself with lasagna, I wedged myself into my car and headed this time to Wallyworld.

Fish food, it turns out, is clear at the back of the store, right by the exercise equipment.

$159 dollars later, I had myself an exercise bench AND a packet of fish food. Eight months of gym membership was now packed into my trunk. Back at home, I opened the box and tried to read the directions (They were in French), I gave up and called my son to assemble the bench. He agreed to, but only if he got paid. He now owns his own successful business…but that’s another story.

The day finally ended, and I went to bed nearly $200 poorer – all from sampling a freebie.

The lessons I learned:

  1. Do not shop when you are hungry.
  2. Bending over and standing up is not only a good exercise, it’s cheap.
  3. Clear, concise, understandable instructions save time and money
  4. You get what you deserve. (Brad Sugars says his dad told him this. Brad’s the founder of ActionCOACH and clearly got what he deserved!)
  5. Accept that FREE generally operates like “Friends with Benefits”…you’re going to have to put out sometime, somewhere…for someone…so, why not let that someone be you?

I know a business coach would read my story here and would already be formulating advice on how to help me prioritize, make lists, be disciplined and save money. While I ultimately spent $200+ dollars on a free sample of lasagna, had I had a coach along, s/he would have showed me how to take that $200, invest it in something that would save me money AND generate capital and I’d be rich—er, smart—er, and enjoying something I can’t get back…time.

In business, there are many things that are basically FREE. These include:

A freebee is only as good as the one who can make it profitable. The coaching costs nothing for you to get an “outside look” at the” inside story”: Your business . And when, after receiving all that free mentoring , you realize you could use some help, the ActionCOACH service is guaranteed.

Here’s what other savvy business owners are saying:

When Sharon Mor and Ed Caballero founded Edventure More summer enrichment programs they began growing the business, but  realized they had no real comfort in dealing with their finances and how to manage their money most efficiently. So, they decided to hire a certified business coach with ActionCOACH Business Coaching. Their coach worked with them to help them squeeze their margins and to improve profitability. Since then the company has undergone a metamorphosis, working better internally and externally. Through restructuring their business model and improving their efficiencies, Edventure More was able to save and reallocate a quarter of a million dollars. Through their coaching experience Mor and Caballero have become increasingly confident in their business and thus their ability to be better leaders. As a result they have built a new level of trust and respect among their team.  ”I am most surprised by the ability we have gained in trusting our team in a genuine way and therefore successfully delegating tasks. Through working with ActionCOACH, we have gotten a better understanding on valuing our costs and when it is smarter for us to delegate,” says Mor. – Edventure More

I always knew what I wanted to do and knew that I had the potential, but I just didn’t know how to get there. ActionCoach is guiding me step by step toward my goals and I actually see them in front of me. I feel like ActionCoach has given me the key to open the door to my own house. My ActionCOACH is helping me unlock my dreams.-Eduardo Pintos Owner Pepito’s Restaurant

So, business owners, that’s my story. What’s yours? Is it a Grimm’s Business Tale? Three CEO Billy Blokes Gruff, perhaps?  Let us hear your “Grimm” stories and we’ll share them with our blog readers!

And sure to look for my next article: “What the Tech Are You Talkin’ About?”

What’s #1 On Your Business Bucket List?

Posted on by petergwaction

By Peter Williamson

Ask a Business Owner what’s the number one thing that would top their Business Bucket Lists and they might say, “Money!” or “Time” or “A Dream Team!” when in reality, they could have all of those things – and more almost instantly. Too good to be true? Not anymore!

Before I get into how, if I were to ask you if you’d be willing to spend $1500 this month on your roof, you’d probably say yes if it were leaking AND if I were a reputable roofer, right?

Well, guess what? You’re roof is leaking. Not your actual roof, perhaps, but the figurative roof over your business is starting to show some serious “stainage” and we all know what that means.

Drip, drip, drip. Grab the buckets.

Now, I’m not a roofer, but then again, you don’t REALLY need a roofer since this is a made up scenario, but I am the one to call to patch up those growing holes in your business AND to help you apply some much needed strategies that will increase your profits by – are you sitting down – 200 . . .350 . . .700% if not more. Seriously, we have clients who attest to it.

We are SO SURE your profit margins will increase, your processes will be better, and you’ll have the dream team you’ve so badly wanted and needed, that we offer a NO-RISK GUARANTEE. Sorry for the all caps. I don’t want you to feel like I am shouting, but who wouldn’t want to shout something as great as that?

Now, here’s the deal. We can’t give you all the benefits you’ll receive or we’d run out of cyberspace. Plus, our services are customized to your specific needs.

So, do this:Go to www.actioncoachcalteam to see our team of experts ready to serve you from all over California. Click on your region. Give the coach a call and let him or her know you saw this promise. Yes, that’s what it is – our promise along with our guarantee that we will work out a plan with you that’s doable, affordable, and profitable for you.

In doing so, you you’ve just topped your Business Bucket List with a benefit that will actually afford you all the other things you “wish” you could put on it!

#1 benefit: Your own Business Coach!

Then roll up your sleeves, because we have some work to do. Start planning that vacation you’ve been working too hard to actually go on. Or pick out those treasures you’ve wanted to buy but just didn’t have the money, and prepare yourself for finally being at the right place at the right time.

Your success is a phone call away. Don’t wait. Let us help you turn dreams into realities.

ActionCOACH means BUSINESS. No games. No gimmicks. Just results.

Think Outside the Sox

Posted on by petergwaction

We’ve all heard about thinking outside the box, and unless you’re “Jack”, who lives IN a box, you know that this means coming up with ideas that aren’t necessarily traditional or “the way we always do it.”

So, what exactly is thinking outside the sox?  Simply put, it’s thinking quickly on your feet.

Business Owners are in a constant state of decision making. Some decisions are deliberated over a period of time, but others need to be made instantly.

5 barriers for making effective decisions include:

  1. A lack of significant information. One can’t, for instance, make a decision on whether an ad campaign is effective if one does not have analytics tracking the success of the ads run. Metrics and Measurements offer facts and facts are what good decisions are based upon.
  2. Identifying the real problem(s). If a problem needs identifying, you have a decision to make, but sometimes business owners THINK the problem is one thing, when it’s really about something entirely different. Case in point: The roof has just caved in. Is it because it snowed heavily? Or because the construction of the roof was inadequate? This allegorical example can be applied to a failure in a business. Are you identifying the correct reason for the failure? Did you, for instance, in the example above say that the snow was at fault? It is the cause. Not the fault, so yes, snow is part of the problem, but the real problem is with the construction of the business.  What will crumble in your business if pressure is applied? Being able to identify the real problem area will help ward off the causes of the problems.
  3. Information overload. The Internet is a wonderful vehicle, packed with information beyond human belief, but business owners are faced with the challenge of discerning which information is accurate and credible versus information that is pure fluff and ineffective.
  4. Not having a solid plan. One might think a plan is a plan is a plan. Strategic plans outline extensive goals. Operational plans break goals into smaller parts. A strategic plan might cover a ten-year period of growth and expansion, whereas an operational plan might cover what’s happening in the next 90-days or 12 months. Business Owners will want to develop the Strategic plan (perhaps with the help of an advisor), but may choose to delegate the operational planning to their management team.
  5. Fear of failure. Making a decision means one might make the wrong one, but a savvy business owner will learn from his or her mistake(s). Thinking outside the sox means having the flexibility and the wherewithal to know your options up front, and to have an alternative plan ready, if the one you tried didn’t work.

Use this form to help you determine ways YOU can think more quickly on your feet–outside the sox–and become the jetsetter you’re meant to be.

Marketing What’s Working Not Working New Plan Evaluation
     Targeting
     Advertising
      Referrals
     Promotions
Sales
     Conversion Rate
     Repeat Business
Management/Team
     Business Mentors
     Team Building
Money
     Cashflow
     Margins
     Profit
     Sales
     Total Revenue
Team
     Prioritizing
     Delegation
     Ownership
     Accountability
Time
     Family
     Vacation
     Balance
Fun
     Have it
     Don’t have it

10 Challenges Business Owners Face and Their Solutions

Posted on by petergwaction

by Peter Williamson

All business owners have challenges. Here are some that can make or break a business and what one can do to ensure success . . .

Change: One would think that a small business could change quickly, if need be, but that is seldom the case. One, as humans we are creatures of habit and will sometimes stick to something we know not because it is the best solution, but because it’s familiar to us. Change involves risk and risk involves confidence. Confidence in oneself may be shattered if one’s business is faltering, so it’s important to find mentors that can give you the advice and strategies you truly need to succeed without worry that they have a hidden agenda.

Hiring: Okay, so you know you are a great company and that a great company should be able to attract great employees, but if you’re a small business, it’s hard to compete with the larger corporations that offer full benefits and perhaps larger paychecks. So, how can you compete? The answer is in looking closely at what you have to offer your future employees. Will they have a better chance at promotions in a smaller company? Will they have access to more hands-on training? Are they in a culture that’s supportive and attractive? Have you created a work environment that will attract the very people you want to work for you? Create an environment that you like coming to, and they will, too.

Asking: Believe it or not, asking for help is one of the top challenges facing owners of small businesses. If you’re struggling, then asking for help feels like you are inadequate and unable to keep your business afloat. But, the fact is that those business owners who recognize that they need help and set their egos aside long enough to get competent coaching excel not only as individuals, but as a company. The challenge in asking is in knowing what to ask for, and when to ask for it. That’s where a coach can help.

Leadership: As business owners, we are good at something. We must be. We own businesses! That’s no small task, but what tends to happen in ANY industry is that we may be good at some things and less strong in others. Maybe, for instance, we can crunch numbers right up there with the best accountants, but we can’t manage a team to save our lives. Leading by example is common advice for business owners and managers, but if you don’t know how to do something then you may just lead your team down the wrong path. The solution? Put a team together that can most complement one other, even you. Respect and reward those working with you for skills they possess that you may not have, and if they are struggling in an area that you have strength in, build their skills in those areas so that they may be strong leaders as well.

Leads: Any business owner that is worth his or her salt will recognize that nothing sells itself. Effective lead generation is possible through better advertising, having a proven and successful system in place, and turning promising leads into loyal customers. Know the: who, what, where, when, and why of your advertising campaigns to maximize the impact of its success. Who is your target market, what is your promise to your potential customer, where is the best place to place your ad for maximum exposure, when is the best time to run the ad, why should someone choose you over some other product or service? Answering these simple questions will put you on the right path to generating instant leads.

Employees: Hiring the right people is only the first challenge. Perhaps more important is what to do once you’ve hired them in terms of training. Oftentimes, small businesses fail because they have no training programs in place for incoming (and existing!) employees. Today’s environment is fast-paced and ever-changing with new technology constantly present. Offering training is not only vital to your company’s growth and well being, it’s vital to your team. Think of training like food. If you don’t feed your staff, they’ll wither away and perish! If you don’t have training tools in place, consider ways you can establish some training and define what, exactly, you want your employees to learn. Or ask them what they want help with. You might be surprised at their answers!

Networking: Small business owners share a challenge with large corporations with regards to networking. As a matter of fact, they share many challenges, including security and privacy issues, effective lead generation, lack of effective metrics and measurement strategies to monitor and track results, time constraints – the list goes on. The key is selecting the networking venues that will effectively and efficiently market and promote your services. You might have a terrific blog, but if you can’t get anyone to link or click on it, it’s useless.

Goals: Sometimes business owners have what are called “misplaced goals”. They THINK one thing is their goal, when in fact it their focus and attention should be somewhere else. Think of it like someone who’s unhappy and they blame something for their unhappiness, when in fact their mood is really a result of something else. Goal-setting is imperative in business. They key is to have both short-term and long-term goals. Some business owners are highly skilled at seeing the “whole” picture, but miss all the important smaller “parts” that will eventually make up that larger picture. Others are great at seeing the “small parts” necessary to carry on day-to-day business but have no real visions for the future and the growth of their companies.  Ask yourself what your ultimate vision for your company is, then try setting smaller, reachable goals that can be the stepping stones toward reaching that higher goal.

Efficiency: Owners of small- to medium-sized businesses often suffer from burnout. They try to cut costs by doing everything themselves, only to find that other areas of their lives suffer, including family relationships, sleep deprivation, increased stress and other “symptoms” of work overload. The solution? Well, for one, learn to prioritize. If you find that you are handling busy-work tasks that you could have someone else do for significantly less, delegate. If you find that you are running in circles, take a closer look at what strategies you have in place that could minimize inefficiency and stress and maximize production. What efficiency often impacts is time. Time is something you can’t get back, so learning the techniques to make time work for you rather than against you is imperative.

Sales: Selling is easy if someone wants to buy whatever it is you are promoting, right? But sales is less about the selling and more about the enthusiasm with which someone is promoting a sale. Think of it this way: When you stop trying to sell something, you start selling something. Have you ever noticed that you may have gone somewhere with no intention to buy whatever it is at the store, but a very enthusiastic sales person will convince you that you can’t live without that very thing. Then what? You buy it! To understand selling, one must understand who the seller is. Are they someone who waits for people to ask about a product or service? Are they a product pusher who talks of nothing but the product? Maybe they’re the person who asks what you need and then bends over backwards to find it for you. Or how about the person who promises the world just to get you to buy? Which one do you want working for you? Determine that and that’s who will be attracted to your company! Trust me, it works.

3 Reasons You Get Bad Employees – And What To Do About It

Posted on by petergwaction

by Chuck Hunter

Do you think you can’t get great employees? Can’t get them to do what you need? Can’t get them to stay? Before you blame your Team, remember that old adage: “You get the employees you deserve.” Let’s start by taking a look in the mirror. The most common errors that occur are:

  • Hiring the wrong person
  • Inadequate training or evaluation
  • And, finally, a lack of leadership.

Now, let’s take a look at those issues in greater detail.

You’re hiring the wrong person or putting them in the wrong place. Using personality profiles can help to measure a candidate’s qualities before they are hired. I use DISC and VAK to help make the right match of person and position.

The DISC profile measures a person’s natural (away from work) and adapted (at work) behavioral tendencies. The profile takes about 10 minutes and yields some very useful tips on individual strengths, opportunities for improvement, and keys to motivating. The VAK (stands for visual, auditory, and kinesthetic) measures communication modalities.

In addition, examine the hiring process and the questions that are being asked. What do you need to change based on the lessons you’ve learned in the past? Ask questions that uncover values and look for alignment with your company’s values. I have found that a “bad employee” is rarely due to the lack of job competence—it’s more often a failure to mesh with organizational values. You must hire character because that can’t be taught. An employee with a great “values match” will still underperform if you assign them to the wrong job. Go back through your job descriptions and modify for what the business needs, and then hire the person that fits that description. Chaos results when you change the job to match the skill set of the newest hire.

“D” Style:

Adventuresome

Competitive

Daring

Decisive

Direct

Innovative

Persistent

Problem Solver

Results-Orientated

“I” Style:

Charming

Confident

Convincing

Enthusiastic

Inspiring

Optimistic

Persuasive

Popular

Sociable

Precise

Team Player

“S” Style:

Amiable

Friendly

Good Listener

Patient

Self-starter

Relaxed

Sincere

Stable

Steady

“C” Style

Accurate

Analytical

Conscientious

Diplomatic

Trusting

Fact-Finder

High Standards

Mature

Patient

2. The problem could be that your training, measuring, and evaluation process is inadequate. When was the last time you revised your orientation process? Your company handbook? The initial process for training a new hire? What KPI’s (key performance indicators) are they held accountable for? How often do they receive feedback? Who mentors the new folks and for how long? I recommend that all employees participate in the regular team meeting (What do you mean “I don’t have one”) and are asked at each one: What can we do to help you succeed in your job?

Many years ago, I heard of a “training method” referred to as “Leave alone, zap”. This means that the new hire is, in effect, turned loose to figure things out and then “zapped” when they make a mistake. This, or any similar approach, basically sets someone up to fail. As expensive as staff turnover is (time, repeated re-training, lost productivity, etc), it is certainly worth investing in refining the process so that we do a better job and “start over” less often.

3. The Leader doesn’t know what he/she is doing, so neither does the Team. In order to have great followers, there has to be a great leader. No team will ever out-perform its leadership. Are you the kind of leader that a great employee would want to follow? Are you running the kind of business that a great employee would want to work for? I can assure you the team watches everything you do and dissects everything you say. Start with your communication—do you:

  • Communicate clearly and regularly?
  • Are you consistent in your statements and behavior?
  • Do you do what you say you will do?

If  you “waffle” or delay making decisions, you are viewed as weak and indecisive. Also, if you have the courage, survey the Team about their views of you as the Leader and then be willing to “sharpen your saw” to make some changes.

Change your outlook, change your results!

3 Tough Business Decisions And Their Solutions

Posted on by petergwaction

by Peter Williamson

If you’re considering asking someone for help in your business and have done research on the Internet, you’ve probably discovered the difference between a consultant and a business coach. There are some questions you’ll want to ask before hiring a coach.

The reason I’m writing this article is to fully disclose the 3 most common reasons business owners are skeptical about hiring a business coach, but I have no intention of leaving you hanging. I’ll also share the questions you’ll want to be sure to ask a business coach. We’ll review the reasons some business owners are skeptical, and we’ll offer some ways that you can avoid the pitfalls they fell prey to.

Because we have coached thousands of business owners just like yourself, because we’ve been voted #1 Business Coaching Firm six years in a row by Entrepreneur magazine, and because our clients are winning awards and raving about unparalleled revenue increases, we feel we are a pretty good resource and business coaching firm.

Now YOU get rewarded, because I can now share some of these secrets with you.

#1 Reason for skepticism: My business is struggling, so how can I benefit by spending even more money to hire a coach.

#2 My business’s downfall is just the economy. When things turn around, my business will, too.

#3 Are you serious? I work 24/7 just to keep my business afloat, and now you want me to schedule time I don’t have to work with a coach?

All these points are valid. The four areas most business owners define when targeting areas they need help in are: money, management, marketing, and time.

Now, I know it sounds all sales copy-ish to bring up ActionCOACH business coaches, but there’s a reason I have to with regards to skepticism #1. You see, ActionCOACH offers a guarantee, making your decision to work with us risk free. Wait! Go back. Read that again: Risk Free. So, number one worry is already off your list.

Number two. Wishing does not mean something is going to happen. We can wish and wish and wish that we’ll double our revenue, land a great team, or have the time we’ve pined for to do all those things we gave up for our business. And while an improved economy would definitely help you and your business, it’s not a given. One has to make it through the tough times to see the kind of growth and increased profit you are aiming for. Again, your ActionCOACH business coach helps you put the strategies in place that will allow your business to flourish, even in tough times.

Ah, yes. Skepticism #3. Time. It’s an elusive little bugger, isn’t it? I used to say that time is relative (or was that Einstein?). Anyway, it’s especially relative around the holidays. Okay, that was a joke, but my point is that time is a commodity that we can never get back. We can’t bank on it. We can’t harness it. But with an ActionCOACH business coach, you can stop needlessly eating away at it. Because, it IS disappearing. The secret is learning how to turn your time into an INVESTMENT. An investment in YOU, your business, your dreams.

Now, are you ready for the secret? Your ActionCOACH business coach can’t grow money. S/he can’t snap a finger and have the economy healthy and balanced. S/he can’t flick a switch and have time suddenly expand. But, with a trusted ActionCOACH business coach at your side, you can learn and implement process and strategies that will:

  1. More than pay for your coach’s services and boost your business to heights you didn’t even know were possible.
  2. Turn your focus to the success of your company rather than any decline in the economy, and show you ways to profit when times are tough.
  3. Help you manage your time so well that you’ll FEEL like it is being given to you. You’ve certainly felt long enough like it’s being taken away. And there’s no greater feeling than having your business run successfully without having to be there 24/7, trusting that things are running as they should.

Now, isn’t that worth its weight in gold? Still a little skeptical? Try this. Call the coach in your region and ask for a one-hour complementary coaching session. Tell you what. Call now and get an extra hour of coaching. That’s two FREE hours of coaching. But do it now, because this is a limited time offer. It’s only good through April, 2012.

Here are the names, regions and numbers of our California coaches.

So, ready to turbo to success? Trust me. It feels good.

Our goal is to get you there – fast.

No games. No gimmicks.

Just results.

5+ Ways Entrepreneurs Can Tell If They’re Truly Fit For Business

Posted on by petergwaction

by Peter Williamson

In just about any sport, toughness is measured both in physical strength and mental abilities. Some of the challenges include endurance, persistence, perseverance, practice, self-confidence…

The same can be said of business.

There are plenty of books out there  comparing sports to business, but as an entrepreneur, you’re in your own game, and there are some strategic tips you should think about to make sure you are not only “in the game” to win it, but truly fit for business! Let’s pump some mental iron and address these three areas first:

1)     Answer: “What is my business a solution to?”

2)      Define: Who has the problem?

3)      Then ask, “What is the price of NOT using my product/service?

By addressing these questions you’re actually creating a business vision. Not only will this help you define your game plan, but it will help you create a branding for yourself AND your business.

Bonus tip!

If we go back to the sports analogy, it would be hard to play any game if you didn’t first establish the goal and the steps needed to reach that goal. So, let’s go back to the challenges:

  • Endurance. Are you “up” for running a business? Are you taking care of yourself mentally AND physically, strengthening your mind and body?
  • Persistence. Are you making sure to control your emotions, recognizing that success generally takes time and determination? Everyone has meltdowns, but do you give yourself a time limit to vent and melt? If you don’t, a good portion of your time and energy can be spent exerting emotional energy instead of channeling that energy into positive action.
  • Perseverance. Are you in for the long haul? Do you convey the urgency of using your product or service? Do you relentlessly prioritize, making yourself accountable for each step of the way? Are you relentless in your pursuit of your goal?
  • Practice. Can you define your business in 30 seconds or less? Can you define the value you provide your customer in one sentence? Do you practice positive self-speech to build your confidence? Do YOU believe in YOURSELF?
  • Self-Confidence. Do you read every day and keep your mind-muscle in shape? Are you an expert? Is your passion showing? Are YOU emphatically sold on your product or service?

Each one of these strategies can be put into play with practice. Let’s face it. Most of us have a daily routine: We get up, we shower, brush our teeth, get dressed for work, eat, and begin our work day. Why not add the strategies above to your daily routine? Factor mental and physical exercise time to your routine; use driving or travel time to work on positive self-talk; practice your elevator speech;  remind yourself of why your service or product is important. It must be important, right?

After all, you’re exchanging one day of your life for it, so make each day count.