Business Coaching

What exactly is a business coach? And more importantly what can a business coach do for you and your business?  These are two important questions.  First let us start with a brief understanding of a coach.  When the term coach first comes up for most of us this can bring back an instant memory of a youth sports coach, drama coach or even a music coach.  The job of the coach was to provide direction, guidance and a game plan to help us maximize our talents.  There is not much variation when it comes to the defining a business coach.  The job of a business coach is to provide direction, guidance and a game plan to help you maximize your talents.  In addition a business coach will provide resources and assets to expedite the learning curve.

Let us briefly review the topics of direction, guidance, game plan, resources and assets.

Direction is an area that we all need from time to time and as a business owner it is imperative that one has a sense of direction.  With all the obstacles and challenges that lie in front of each business owner, having a sense of direction will help you steer clear of any number of obstacles.  For these obstacles that one can not steer clear of a business coach is there to help you develop strategies to tackle the obstacles.  Direction is developed between the business coach and owner based on a clear understanding of what the business owner intends to accomplish.

Guidance is an extension of direction.  Once the business coach has a solid understanding of what the business owner intends to accomplish the business coach will tap into his/her experience to provide the business owner a readily available resource to help guide them through the easy and tough decision that lie ahead. Touching upon a few of the decisions, ‘When do I hire?’, “How do I expand?’. ‘Am I ready to expand?’, ‘How do I set up a compensation plan’ and ‘How do I handle a trouble employee/IC?’ are all questions every business owner will face.  These are but a sample of situations that a business coach can help you overcome.

A business coach will take the information obtained from the business owner and help them create a game plan to achieve success.  This is where things can get a bit tricky, it is not the goal of the business coach to create your business plan or directly give you the information to complete you business plan.  In fact it is not the business coach’s duty to give you all the answers.  There are some instances where the coach should give you the answers, but for the most part giving the answers doesn’t help the business owner in developing the confidence to make sound decisions and to grow their business.  If you are always given the answers one never learns.  Part of the growth of the business comes through the process or journey of exploring and challenging what the business owner already knows (or thinks they know) and provided direction, guidance, resources and assets to fill in the blanks. It is for this very reason that every business owner is different.  Each owner comes to the table with a different knowledge base and skill set.

Resources and assets are an important part of the arsenal for every business coach.  The information available in arsenal has been developed based on the experiences of the business coach.  The experiences both gained through personal experiences and coaching experiences.  It is through these experiences that business coach can deliver information that is both valid and applicable.  The resources and assets available through the business coach are geared specifically to maximize the time investment of each business owner.  Inefficient use of time is a wasted resource and something business owners can’t afford.

Getting back to the questions asking in the beginning; ‘What is a business coach?’ and ‘What can a business coach do for you?’  A business coach is a coach.  A person that will help you develop and solidify a sense of direction, to provide guidance through the good and bad times, to help you develop a game plan to achieve your goals and to provide resources and assets to help you maximize your time.  A business coach can move your business light years ahead of where you are right now.  A business coach prepares you to play game.

Dealing with the Funk

In business, as in life, there are ebbs and flows. The ebbs can sometimes lead to something one may call a 'FUNK'. This funk is usually noticed in the form of a lack of motivation and/or a sense of just going through the motions.

The cause of a ‘funk’ can be anything from stress in one’s personal life, day-to-day business struggles, or any so-called fires you have been battling over the course of time. No matter the particular cause, we have all been in a funk at least once, and are very likely to revisit it multiple times throughout our careers.

The trouble with being in a funk is:  1) It is not always apparent to the one in the funk as to when it began, 2) You never know how long the funk will last, and 3) You often don’t know how to get out of it.

Identifying that you are in a funk is a challenge; oftentimes, it is more apparent to those around you than it is to you in the early stages. Here are some good warning signs:

· Moody

· Short tempered

· Lack of tolerance

· Lack of responsiveness

· Lack of production/productivity

· Lack of clarity

· A sense of fogginess

· Tough time focusing

· Lack of desire

· Lack of motivation

· An ‘I don't give a sh@$’ attitude

· Feeling of hopelessness

Because the funk can roll in slowly, we tend not to see it in ourselves.  It is usually the individuals we interact with on a daily basis who pick up on it.   And oftentimes, when they call us out on it, we deny it. If a trusted individual in your life brings up the topic, it would be sound advice to take a step back and take a self evaluation. The first step to getting out of the funk – just like anything else – is being able to recognize the fact you are in it to begin with.
 

The length of time you stay in a funk is based on the impact and the circumstances that brought it about.  Each of us responds differently to the circumstances in our lives. Sometimes, getting away for a day or two to refresh and energize the batteries is enough. Other times, the funk can last for weeks, months or even years. I am by no means an expert in this area and certainly not giving medical advice, but as trainers and fitness professionals, our general game plan revolves around getting back into the groove of eating healthy and exercising.  However, sometimes this isn't enough: sometimes we need to seek the help of a trained professional.

So how does one get out of a funk?  Well, the honest answer here is ‘I have no clue.’  But let me share what has worked for me:

· Identify the cause. If it is an unresolved issue, then work toward resolving it. I often find that if an issue is left unaddressed, it can eat away at me to the point that I begin to obsess over it, and it consumes me.

· Take some personal time. Take some time to allow yourself a mental and/or physical break from your current activities. I know this can be a struggle, especially if you have family commitments that you think won't allow you to get away. Think of it this way: Does your family want you to be happy? Do you think you will be more productive when you’re happy or when you’re rundown?

· Do something that you enjoy. Oftentimes, when I feel a funk coming on, I will realize I haven't worked out for a long time – and usually for no good reason! I also have a wide variety of interests outside the workplace, and if I haven't partaken in any of those interests for awhile, I can find myself in a funk. I think it has to do with the creative person who lays inside that needs an outlet.

· Take pride in what you have, and what you have accomplished. A lot of times, I am not willing to recognize the good that I have done or the things I have accomplished. More often than not, I will downplay the impact I have. Sometimes, I have to be willing to give myself a pat on the back and say ‘attaboy.'

· Lastly, I have to remind myself that I don't have to be perfect. To err is human. As a single father of two, I have to recognize that I don't have to be perfect. It’s okay to make mistakes, and it’s okay to get angry when things just simply go the way I want them to. There are so many factors we can't control – and frankly, who wants that responsibility? I just need to trust that, in the end, I will make the right choices that are in the best interest of those that I am interacting with, either personally or professionally.

I hope you find some useful insight within this article, and continue to work on yourself to help you minimize the inevitable funks that are part of life. Take solace in the fact you are not alone. After all you are human.

Checking the Numbers

Are you aware one of the easiest ways for your business to earn money is to save money?  If not, you are now. Saving money or more importantly having more money coming into the business then going out of the business.  Every business owner needs to have a clear understanding of their expenses.  This will serve the owner very well for a variety of reasons. 

First, it will allow for the costs to be prioritized.  Businesses will have ebbs and flows and from time to time you will need to post pone paying a bill or cut expenses.  Knowing which bills you can post pone or which expenses can be cut will help reduce any stress associated in hard times.

Second, it gives you instance access to how the business is operating.  If the business is thriving then there will be room to expand, add a new service, upgrade or purchase equipment for the company.  If the business is staying at a break even point then the owner needs to find ways to continue to increase business or in some cases replace business that has been lost.  If the business is performing poorly then its time to cut expenses and continue to look for ways of increasing revenues.

Third, it allows the owner to evaluate his/her performance.  The bottom line is the owner is responsible for the growth or lack there of in any business.   If the business is growing and making a profit then the owner is considered to be doing a good job.  If the business is not growing the owner is consider to not be doing a good job.  It really is that simple.  You either doing a good job or your not!

Working with Your Partner

As the licensing program has grown there have been a healthy number of husband-and-wife teams join the Achieve Fitness Family.  Often, the business is started by one or the other, but in time, both parties take active roles in the business.  However, this dynamic creates its own set of complications beyond working with a typical partner.  The biggest struggle most couples-turned-business-partners face is being able to separate the business relationship from the husband/wife relationship. 

The separation of these two relationships can be further complicated if the two relationships require a role reversal; in other words, the party who is the ‘dominant’ party in the personal relationship has to play the ‘submissive’ role in the business relationship.  In addition, the person who handles all the management duties of the household (and family, if applicable) isn’t always the best fit to be the one that handles the management duties of the business.

Here are our suggestions for creating a healthy business relationship when you’re working with your spouse:

• Create a division of roles.  First, decide what roles and/or duties need to be accomplished for the business to be successful, and then divide the roles up.  The roles may not be divided evenly, which is okay, but try to divide them up based on the time involved in each role and play to what each partner’s strengths are.  Please note these roles are subject to change – but you need a starting place, so identify them as they pertain to your business and your personalities as they exist now.

• Set up a weekly accountability meeting.  Schedule this meeting at the beginning and/or end of the each week.  In the meeting you need to cover four main areas:
• What each person’s schedule is going to be/was for the week.  Make sure the schedule coincides so that both people can maximize their contributions to the business
• Set objectives and goals for the week.
• Report on the success of the objectives and goals from the previous week.
• Discuss areas where help is needed, without being defensive or accusatory.

• Set time limits.  Agree upon times when the business day/week ends. Hold true to the end times you determine.  There will be exceptions, but they should be the exceptions and not the rule.

• Set rules to for disagreement.  Remember that the discussion is about business, not your personal life.  When you are expressing your concerns, stay focused on the behavior, not the person (this is a good rule to practice in your personal relationships, too!).  Don’t bring personal issues to the business argument.  This is a surefire way to put the other party on the defensive.

Following these four strategies will help you lay a strong foundation on which to develop your business relationship, which will in turn allow you to remain life partners, too.  Lastly, reach out to your fellow business owners who are couples and talk with them to seek out their insight… If all else fails, sign up for My Expert Solutions.

Accountability

Accountability is a term often thrown around in our personal and business life.  It seems like everyone knows the importance of being accountable for their actions, but very few give the term any muscle.

In the simplest of definitions, accountability means being responsible to somebody or to/for something.

How many of you truly hold yourself accountable?

How many times have you not completed a task or goal?

How many times have you not made good on a commitment?

The ability to hold ones’ self accountable is a personal choice.  It is a conscious effort to sort through the riff-raff in life – both personal and business – and identify the priorities that are going to set one apart and be successful.

Here’s a story.  “Earlier this year I ran into some car troubles – the transmission in my truck needed to be replaced.  At the time, my financial situation would not allow me to pay for the full repair.  I have used the same mechanic for years (Auto Service House), and they have always provided me with outstanding customer service.  Because of the relationship I have with them, we were able to set up a payment plan that allowed me to get my truck repaired in a timely fashion and be back in business.  The plan was simple: pay half now, which allowed them to purchase the transmission and not carry the cost, and then pay the remainder of the balance in 30 days. The repair was made and I picked up my truck with in 3 business days.  On the 28^th day I paid the remaining balanced owned.  The shop was excited that I not only paid the remaining balance, but also that I paid early.”

Here is the point of the story.  Although people say they have trust and confidence in others, the reality is that on the inside they’re nervous and distrusting.  When you make good on your word, keeping yourself accountable, people are truly impressed and have a restored belief in people and/or business. 

It is truly amazing that the act of simply keeping yourself accountable is the exception and not the rule in society.

Take this lesson and apply it to your day-to-day operation.  Create a business and time management schedule, set up goals and objectives, and become accountable. 

You will make hundreds of choices through out any given day.  Make the choices that put you in the best position to stay accountable to what you desire most.

Client Development

6 keys to client development

1. You must get in front of prospective clientele
2. Be understanding and empathic to wants and needs of your target market
3. Speak to your prospective and current clientele in benefit-orientated language.
4. Present yourself and/or your business as the answer to the wants/needs of yours clientele.
5. Be adaptable
6. Follow Up

You must get in front of prospective clientele

The business of personal training is ‘Personal,’ and to that extent it means becoming more personal.  The best known way to get personal with someone is to physically get in front of them.  Please don’t misunderstand: all the ways to market your business are important, but the bottom line is that all that internet marketing and social networking is designed to get the prospective client to have direct contact with you. 

There are many ways to get in front of prospective clientele: one-on-one, in a group setting, through word of mouth referrals, and by replicating yourself.  Just get off your butt and meet your target market!!!

Be understanding of and empathic toward the wants and needs of your target market.

Being able to grasp the struggles and concerns of your target market will allow you to communicate directly to the prospect, either through your marketing materials or in any personal situation.  Knowing the emotional buttons to push to help lead your prospect where they want to go is vital to the success of your business.  This is by NO means a harsh sales tactic. The truth is, if the prospect is willing to read and/or listen to the information you present, they are viewing you or your business as a means to an end. 

Speak to your prospective and current clientele in benefit-orientated language.

Don’t waste your time going through all your credentials and latest and greatest exercises.  Those are just features.  Talk to them in terms of what you can do for them.  Talk to them about the results they can expect if they take action with you.  Keep the conversation focused on their wants and needs.

Present yourself and/or your business as the answer to the wants/needs of your clientele.

Once you have established an understanding of the needs and wants of your prospect and have spoken to them in benefit-orientated language, you can begin to present yourself, your business or your program as a means to an end.  Show them how they will achieve the results they most desire by adhering to your guidance and direction.

Be adaptable.

Be able to match the services and programs you offer to the needs and wants of your clientele.   Not all clients’ goals are 100% the same – there is always a little variation.  So be able to adapt to those situations.

Follow Up.

Follow up is huge.  This is how you keep your client accountable to their commitment to you and how you keep accountable to your client.  This also follows under the realm of ‘Say what you’re going to do, and do what you said you would.’  This applies to current clients, prospective clients and life.   This is the critical step that allows you to solidify your position as a professional.

Dealing With Set Backs

No matter how great our intentions maybe, no matter how well we organize our time we will eventually run it to set backs.  So the real question is, how do you deal with set backs? 

Since we understand set backs are simply a part of life, we need to develop a plan of action to deal with these moments so that we can remained focused on both our business and the matter that caused the set back. So here is the quick and dirty way to deal with the inevitable set back:

1. Create a time management chart.  This chart should be used to account for each hour of the workday.
2. Create a 'To Do List' or objectives list for everything that you need to accomplish in the work day.

When the inevitable set back occurs take a step back and ask yourself:

• Does this matter really require my attention right this minute?  Often times individuals give in to panic and create a mountain out of mole hill sort to speak.  So, really think about the importance of the set back.
• What needs to be done to deal with the set back?  Create a brief game plan to deal with the situation. 
• Do I have all the information needed to properly address the set back? 
• What do I need the desired outcome to be?

You would be surprised by running through the short list of question how much more effectively you will be able to handle the inevitable set back.

There are moments that you attention will need to be immediatly divert.  It is in these moments that by having a time management chart and a to do list that will allow you to get right back in the driver seat and allow you to make the most effective use or your time when it is available.