FROM THE BUSINESS COACH
MIKE HILDERBRAND BS MBA
Owner | Managing Partner
M.B. Hilderbrand Associates LLC
Business Consulting | Coaching
409-789-0072 | [email protected]
KEEPING SCORE in BUSINESS
The job of a business coach is to coach business
owners from chaos to control, with the ultimate
objective of creating a commercial, profitable
enterprise that works without them.
To do this, it generally requires a lot of hard
work, the ability to initiate and sustain change and an
attitude and desire to create a business, which will help
owners reach their goals and dreams that they had when
they first started in business.
At the start, most businesses are in complete disarray.
The initial steps in getting control is through what we
term the “Mastery Level”. And the first step is Money
Mastery.
What is money mastery?
When it comes to money, it is amazing how many
business owners aren’t aware of the basics. They don’t
know their revenues or for that matter even their breakeven
points.
Most owners don’t set themselves any sales targets
or budgets; most don’t have cash flow figures and don’t
have any idea about how many leads they get (and from
where), their conversion rates, or their profit margins.
Here’s the thing: Owners absolutely must know
where they are in the first place so they can establish
a benchmark from which they can set goals and
expectations.
Unless you know where you are, it is very difficult to set
specific strategies to make positive changes. Therefore,
getting mastery of all the key financial areas of the
business is essential, and once the owner understands
these aspects, it makes it so much easier to start working
on other areas of the business.
Knowing your figures
Very often, business owners are reluctant to admit to
not knowing their figures. However, once they realize
their issues are the same for most businesses, they are
much more willing to acknowledge their situation and
start learning.
Of course, none of these changes can be done
with the flick of the switch, and it takes considerable
determination and persistence to make the changes
happen and part of a successful business.
A business coach works with owners on a weekly
basis to take the journey from chaos to control step by
step. In the end, it is amazing how much change can
take place in a business that is willing to adapt and to
learn.
It is equally gratifying from a coaching point of view.
The question is, as an owner, do you have control of your
business?
Do you own your business or does your business
run YOU?
If you’re no longer enjoying your business or are
working long hours with little return perhaps it’s time to
make a change. It starts with the acknowledgement that
there could be another way to do business.
Then, it means taking action to make the changes for a
more profitable business.
14 MOMENTUM