Business Owner = Entrepreneur Coach, the New Success Model

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Entrepreneurs do… they are customer focused and driven to grow their business and lead their team.  Entrepreneurs find opportunities when others are cutting back and waiting for economic upturns to carry their businesses.  However, even though these business people are able to move quickly, this strength becomes their frustrating weakness even for the most successful.  The business owner discovers they can change quickly but their support staff is unable to keep up.  This frustration often results in staff turn over, lost traction, hurt feelings and wasted resources… just plain old poor execution.

Conventional business approaches from the past can burden and slow growth for these aggressive business people.  With the global economic crises today, new strategies and approaches must be evaluated and adapted to achieve growth for the future.  Customer demands and market place choices are increasing daily as technology is imbedded in the home and customer loyalty can be on shaky ground.  Change is accelerating with new pressures and business owners are left wondering if they can compete and survive. 

Adapting the way we view our business relationships is vital for the future.  Many are talking about “social” networking online and “marketing relationships” as the new strategies that should be utilized for connecting with the customer.  The message is compelling, but the real question becomes… “How do we execute these strategies?”  This question takes into account the changing customer profile, new technology and the gap between our current workforce skill levels and the ability to integrate and execute.  

Learning from others is a great way to recognize and adapt for future opportunities.  Entrepreneurs can benefit from enhancing their approach through collaboration, utilize experts and most importantly become coaches of resources.  Business owners recognize the value of engaging legal and financial experts, and greater opportunities are available with support from marketing and human resource professional.  The focal point continues to be the customer… but the business owner can coach a team of experts to execute effectively to capture new business opportunities. 

The business owner as the coach.  The coach may not be the most gifted person or know the fine details of a given function, but they can bring in experts to address areas of weaknesses.  The coach evaluates the talent, the needs and the goals for the team and gains commitment, buy-in, and lays out the mission for success.  Often training and development of the staff is lost in the day-to-day battles and issues that can be overwhelming to the entrepreneur.

The sports industry values expertise and removes “legacy” resources in the quest to create a stronger organization.  Sports franchise owners recognize the role of a specialist to fill holes on the team structured for maximum return.  A coach continuously challenges the team and they practice to ensure effective execution when the time comes.  Planning Training and practicing provides the greatest opportunity for successful execution just like professionals on the athletic field.  Execution success does not happen without ongoing planning and development inside the business.  This approach is a model for businesses and provides a strong platform for growth. 

 Ensure success for the future by taking the following steps:

1.  Identify what the business does best and focus on it.
2. Develop and communicate the success goals.
3. Evaluate the business team…

• Where are the weaknesses?
• What functions need additional support to reach the success goals?
• What skills does the business need?  Or, what enhanced skills are needed?

4.  Evaluate key “contract” experts to build the team.  Gain 100% of the expert’s knowledge at a fraction of the overall investment cost.  Develop a scope of services agreement with these experts to achieve the results needed.

Expertise & Experience = Execution Success; accelerated accomplishment, controlled cost and bottom line growth with less stress, limited investment in resource development and greater rewards.

The business owner is not alone.  The evolving business model is to create a team with a collaborative approach.  This includes product development, purchasing, training, sales, marketing and hiring the best personnel for your business.   Competition continues to be fierce for talented people, skilled and loyal employees and is one of the toughest jobs a business owner faces and collaborating with outside experts will make a difference. 

This stratgic adaptation provides business owners with greater growth potential, enhanced success with new products or services and can result in reduce overhead cost.  Bringing together the experience, innovative thinking, and dedicated experts provides the staff with exposure to mentoring and execution success.

Utilizing the “Entrepreneurial Coaching Model” accelerates your success.  This approach provides a platform to exceed customer’s expectations, reduce organizational issues, enhances the skill level of the employees and creates results that will strengthen the business for the future.