AdviCoach Explores Hidden Factors That Cause a Business to Run the Owner, Rather Than the Owner Running the Business
Four Common Traps That Business Owners Face
SOUTHBURY, CT - (Marketwired - Nov 11, 2013) - Many business owners find that time, money and freedom continue to elude them, even though their businesses are operating successfully. Recognizing this, AdviCoach, the premier source for business coaching and advisory services customized for small- to mid-size businesses (SMBs), explores hidden factors that could potentially cause a business to run the owner, rather than the owner running the business.
Brian Miller, COO of AdviCoach, explains, "The impact that these hidden factors can have on a business is huge because there is a pride element that goes along with running a business. Business owners will go for a very long time trying to 'figure it out' on their own. Many collect books and information, feeling as if the answer must be out there somewhere, when -- in actuality -- the answer generally lies within them, they just cannot reach it on their own. Part of the answer relates to understanding where their strengths are, but they also need to understand where the gaps in their own knowledge and experience are. It can be beneficial for them to seek outside help from someone who is objective and detached but still has the experience to see what that business owner cannot."
AdviCoach offers an explanation of four of the most common traps business owners face:
- Knowing how to do the work does not always translate into running a business. Business owners come into the business believing that their skill, know-how and experience are going to wow the market and take care of the most fundamental elements of the business, such as sales and marketing. Unless a business has customers and clients, there is no business; no matter how good an owner is at delivering their product or service.
- Gaps and blind spots. Most people have heard the saying, "You can't see the forest for the trees." Meaning that when a person is in the middle of something, he or she is too deep into it to be able to see what is right in front of them. There are things that are very difficult for business owners to see without having an objective third party hold up a mirror to expose the challenge or problem. Working with a business coach is typically what creates the business owner's "aha" experience and allows them the opportunity to make the right corrections, which often relates to improving the ROI of the business.
- Lack of background in running a small business. Lack of knowledge and understanding of what it takes to run a business gets in the way of business owners' ability to do the things they envisioned doing when they started the company. Ultimately, this impacts their ability to implement some of their ideas.
- Making the same decisions. Miller explained, "We all experience the idea of fear, and it actually serves a very important purpose in our lives. It keeps us from danger in a lot of respects; however, FEAR is also an acronym that we like to refer to, which is False Evidence Appearing Real. For business owners, FEAR happens quite often."
Every business owner gets to a point where he or she needs to make a choice. Sometimes it is a difficult choice, and what stops them is the fear that if they go to the left, for example, they are going to blow up the company. For many, any step outside of their norm is far too risky, so they continue making the same decisions. This results in little, incremental moves and frustration because bolder steps are necessary to push the business forward. This can be a fatal way of operating.
Miller added, "A business coach is able to help risk-adverse business owners look at the false evidence that appears real and break it down to help them understand what is true and then deal with truth. When business owners know all the facts, they can make bold decisions because there is more certainty in them."
To help business owners identify and close the gap between their vision and the current reality of their business, AdviCoach is hosting a six-part live, interactive webinar series. The first installment, titled "A Self-Managing Business: It Starts with YOU," will take place Wednesday, November 20 at 1 p.m. ET. The session will help business owners identify: the surprising obstacles many business owners face and what to do about them; the strengths, talents and skills business owners must optimize to attain their desired work/life balance; and the factors that may be undermining a business owner's success. Registration is free at http://tinyurl.com/Nov20AdviCoachWebinar.
For more information about AdviCoach services, please visit www.advicoach.com.
With more than 25-years of experience in business coaching, AdviCoach® is the premier source for business coaching and advisory services customized for small to mid-size businesses (SMBs). The AdviCoach business model is designed to empower SMB owners to increase the productivity and value of their businesses through unique coaching methodologies and the deployment of "Rapid Impact Strategies," ultimately reaching long-term Income, Lifestyle, Wealth, and Equity goals. Part of Franchise Source Brands International™, AdviCoach and its sister company The Entrepreneur's Source dominate $1.5 billion industry with a commanding 33 percent of the business coaching and consulting franchise market in North America. For further information, visit http://www.advicoach.com/.
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