Are You Feeling Stuck in your Business?

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The most profitable, valuable businesses are run by owners who spend very little (if any) time working on the day-to-day operations in their businesses. Instead, they work on expanding their businesses (either geographically or in product/service offerings), developing their leadership teams, work on building strategic partnerships, exploring acquisitions, considering strategies to improve profitability, and other things that would be considered working “on” the business instead of working “in” the business. They also spend their time enjoying their hobbies or traveling with family!

Why are many businesses completely dependent on the owner to work on the day-to-day operations instead of on these more important, strategic initiatives? The simple answer is that the owner has not worked intentionally on building a company that can run without him/her. Here’s why…

Working on strategic aspects of a business never feel urgent. They can always wait until tomorrow. Whereas the tactical aspects of running a business always feel urgent. For example, a customer issue requires immediate attention. But working on a new pricing strategy can always wait until tomorrow. Unfortunately, “tomorrow” doesn’t ever seem to come for many business owners!

Here's where a professional business coach can make a dramatic impact on a business owner’s life!

A business coach will help his/her client identify all the high-level, developmental opportunities a business owner has in his/her business. After careful consideration, the client will decide which objective would be considered “top-priority” objective that can make the most favorable impact on the business. Some people refer to this as “identifying the one, big thing.”

Once the “one big thing” is identified, the business coach helps the client determine all the possible strategies that could be implemented to achieve it. When all the possible strategies have been identified, the business owner will determine which strategy is the most important to start with.

Then, the business coach helps the business owner identify everything that needs to happen for the top-priority strategy to be fully-implemented. We call this the creation of a “Must-Do” list. This is an incredibly valuable step because it makes the strategy tangible, rather than merely conceptual. When this list is made, the business owner has a roadmap to executing the top-priority strategy in pursuit of their top-priority objective (or, “one big thing.”).

But everyone knows that nothing happens without action!

Once the client has prioritized the “Must-Do” list, the coach invites the client to commit to specific action steps to begin (or continue) the process of executing the must-do’s to implement the top-priority strategy. And this is how strategic success is achieved: One smart, intentional, strategic step at a time until the objective is met. But here’s the problem… without accountability, even the best laid plans seem to fade away!

Business coaching relationships provide an accountability forum for business owners.

At the beginning of each coaching session, the prior week’s action steps are reviewed. When a business owner knows the coach is going to ask about the action steps - and there is a specific deadline for achieving the action steps - it becomes more urgent for the client to complete the work rather than putting it off until later. This is an incredibly valuable aspect of having a coach!

To sum things up, here are the deliverables of this strategy coaching model:

1. Clarity of the One Big Thing.
2. Clarity of the Best Strategy to Achieve It.
3. Clarity of the “Must Do’s” Required to Fully Execute the Strategy.
4. Specific Action Steps with Deadlines.
5. Accountability.

It is highly unlikely that anyone can do those things alone. In fact, trying to do them alone is why most business owners get stuck with the same unmet opportunities year-in, year-out. There’s no reason for that!

Your Action Step: Hire a professional business coach right away.

A professionally trained business coach knows how to take you through this process in an incredibly-effective manner.

To find a Certified Professional Business Coach near you, please visit www.businesscoachesalliance.com and we’ll help you.

Don’t let tomorrow be a continuation of the same old thing! It’s time for you to own your business rather than the other way around!

-Jon Denney
President, Professional Business Coaches Alliance