Keys to a Successful Business
What are the essentials of making the business you’ve dreamed of – one that you run rather than one that runs you? This article looks at these and, specifically, how a coach can help. After all, top sports people have coaches, so why wouldn’t you?
Keys to a Successful Business: The Business Coach.
Would you rather have Tiger Woods’s putter or his coach? Muna Lee’s running spikes or her coach? Which would improve your game more?
If you were a sports person, from Little League to playing pro, it goes without saying that you’d have a coach – someone who would watch you, help you analyse, advise and support you in reaching the top of your chosen activity.
OK, so you’re not a sports person, but you’re serious about your business right? So who coaches you in that? Who helps you see what’s working and why (so you can do more of it) and what’s not (so that you can stop wasting money and do something different)?
Business Essentials.
There are 3 essential elements of business that, when they overlap, make for greater profitability. Firstly there’s the technical skill or the commodity that people pay for; then there are the finances and accounts and thirdly the sales and marketing. Diagrammatically they could look like this:
The overlapping area in the middle (a) is where everything comes together and profits are maximised for success. So for example, an accountancy firm would have a big overlap in the technical and finance areas but with no clue about how to market itself or how to close a sale, business would be pretty thin on the ground. Or a marketing firm – great at getting the word out there but without an understanding of how the number stack up they could be under- or over-pricing themselves, losing out on profits. And any company could be just plain ignorant of the fact that their accountant isn’t keeping them the right side of the tax laws (yes it happens).
i love that. it pretty cool.
great post
very good post, you have talent.