AdviCoach(R) Cites Small Business Dangers That Can Derail a Business
SOUTHBURY, CT --(Marketwire - December 16, 2010) - With the economy depending on the small business owner to keep it on track, AdviCoach is sharing a compelling list of small business dangers that typically cause business failure and that are prevalent across the board, in all businesses -- independent of industry or sector. According to this business coaching and advisory service, focusing on the dangers can be the difference between being a player in an industry or another statistic of business failure.
"Our research has already identified the challenges or problem areas that all business owners are most likely to face," Brian Miller, COO and president of AdviCoach said. "Business owners need to be aware of their blind spots. Partnering with a Business Coach can help a business owner see beyond their preconceptions and provide education and accountability to implement rapid impact strategies needed to increase performance and revenue and ultimately profitability," Miller added.
The AdviCoach research found that businesses are weak in one or more of the following areas:
- Financial Management (Cash flow)
- Cash flow problems are responsible for over 70 percent of business failure within their first year.
- The mismanagement of human capital is the main reason that "good" companies never become great.
- The majority of companies pursue projects that are incompatible or inappropriate for their resources and capabilities.
- Under performing sales people bring in at minimum 50 percent less revenue than top performers.
- The beginning and end of all failure in business lies with the people who make the decisions every day.
"Most business owners are not experts in all areas of running a business," Miller said. "An AdviCoach can help them save time and money by helping with goal setting, keeping them on task and holding them accountable to meet their goals as a business owner."
All AdviCoach Business Coaches have been extensively trained under the AdviCoach system, developed by the country's premier source for business coaching and advisory services customized for small to mid-size businesses. Through a powerful, interactive diagnostic process, AdviCoaches work with their clients to assess business performance based on 21 critical areas.
To learn more about AdviCoach, please visit www.advicoach.com.
AdviCoach is the premier source for business coaching and advisory services customized for small to mid-size businesses. With its unique "AdviCoach Advantage," AdviCoaches help businesses increase their ROI and deploy a multitude of Rapid Impact Strategies to impact the bottom line of their business. Today, AdviCoach, along with sister company The Entrepreneur's Source, dominates the $1.5 billion dollar Business Coaching/Consulting franchise market with 33 percent market share in North America. AdviCoach was recently ranked in the Top 100 new franchises by Franchise Market Magazine and listed in the Franchise 500 by Entrepreneur Magazine for 2 consecutive years. Other news on FSBI international brands can be found on www.FranchiseNewsRoom.com.