As a Business Coach, I have seen the results in business that don’t know how to follow a business plan.
What I can tell you is that often, the result is not a pretty sight. We know that a business plan is a key strategic tool for entrepreneurs who run great businesses that perform consistently, above market average.
.So what is the difference between your business resolutions/goals to improve the results you are getting in your business and a decision to implement new strategies for improvement in your business?
Well I would like to believe not much. Both have a few things in common.
Firstly, the decision on its own won’t change any outcome or result. It’s all about the action you take, or don’t take.
Based on the blog article Harnessing the Strengths of the Game Sep 18, 2018 by Alia Stowers in Annual Gathering of Games. “Engagement” has become a huge buzzword in our society. So much so that some CEOs and managers don’t even want to talk about it!
With Gallup reporting that 87% of employees worldwide are not engaged in the workplace, this topic isn’t going away.
Economic recessions result in many business owners and self-employed professionals pulling back and cutting down on all business spending including investments. Business owners think that spending money is dangerous, right now. Unfortunately, this line of thinking is counterproductive as you need to start thinking about investing your money wisely rather than wasting it.
Having a proactive approach is one of the best possible strategies to take when the economy is down.
Did you know that a small to medium enterprises (SME) business owned by a women entrepreneur is more likely to be profitable. Than one run by a male business owner?
Having worked with several family owned businesses over the past years. It has become clear to me that women, often play a pivotable role in the success of the family business.
Do you feel out of your depth when discussing your financial statements with your accountant?
As a professional business coach. I have come to realize that becoming a successful business owner depends heavily on acquiring financial skills.
Our systematic business coaching methods help entrepreneurs and business owners overcome the challenges when maintaining a business.
Since 1997 ActionCOACH has served thousands of businesses and their owners around the world and in every category imaginable. ActionCOACH business coaches show owners how to get more time. Better teams in their companies and more money on their bottom-line.
Making your business resilient to economic downswings is certainly not a new thing for SME business owners in South Africa. Working out what to do to survive and thrive. No matter what the economy is like, is a key priority for most business owners.
However, the difference between a prepared response and a knee-jerk reaction. Is normally because of deliberate preparation, prior planning, and intentional action.
At ActionCOACH-Inspire our Quarterly Business Planning workshops or GrowthCLUB. This is one of the main reasons why business owners who coach with us are better prepared. Therefore more resilient in their thinking and action plans.
Currently SME Business Owners are looking for a glimmer of hope. Inspiration from the South African Political and Economic environment. As they chart a new business growth path to scale up their businesses.
Coming off the back of a tough 2017 and a flat first half of 2018, life at the helm is not easy.
Just as business owners believed that the Ramaphoria experienced in 2018 was going to give us a breather. Other factors have raised the uncertainty and dampened the hope for a quick turnaround.
As a Business Owner you probably know by now that the importance of cash flow in your business is the key to keeping your doors open. The management of your cash flow cannot be delegated to anyone else, but yourself.
Without cash no business can survive!
I believe that understanding what cash flow is and managing the business activities to improve cash flow, is one of the main tasks of the business owner.
