I love all the parallels between business and life. When you are an entrepreneur, your business is one more extension of yourself.
I recently read a review of what looks like a wise book- “30 Lessons for Living” by Karl Pillemer, a professor at Cornell. He interviewed 1000 older Americans about what they’ve learned over the lifetime to create success and happiness.
On the topic of aging, they unanimously agreed that “each decade, each age, has opportunities that weren’t actually there in the previous time”. They encourage you to stay open to new opportunities throughout life.
The same is true in your business. As your business grows, opportunities that either were not there before or that you could not see before begin to pop up. As your business becomes less about getting new clients/customers and more about streamlining/improving the efficiency, new opportunities appear. You can handle things like cross promoting, developing systems, and building a bigger team, for example, that you just couldn’t handle before.
Seize new opportunities, one at a time, and stay open. Great advice from those who have lived far longer than you and I!
After 10 years of business coaching, I have realized that certain conditions need to be in place for private coaching to work well. In short, for private business coaching and consulting to be successful, the client needs to meet these criteria:
#1- Willingness to slow down and carve out “business development time”- time away from your business to work ON your business
#2- Motivation to implement assignments. Clients do best when they implement what we agree on together. Clients continue to have “more of the same” when they cling to old habits and resist change.
#3- A desire for a more peaceful life and healthy work-life balance. I’ve learned that many entrepreneurs are addicted to chaos. Business coaching works best when you are truly wanting a less stressful business and a more balanced life… and are willing to take the steps to get there.
If you are considering investing in a business coach, I hope you will check in with yourself first and ask yourself f you meet these criteria. If you do, business coaching and consulting with an experienced coach can transform your life and your business.
If you want to run your business like a well-oiled machine, enjoy accelerating profits, and certainly, if you ever want to sell it, it must be “scalable”. What does this mean? It means that it can function without YOU and that it has excellent growth potential.
To wrap your brain around some ideas to improve the scalability and growth potential of your business, answer this question:
What would have to change in your business for it to handle 10 times the number of customers?