If you would like to learn more about how Chalkhill Blue help entrepreneurs like you‘ unlock the true potential of their businesses’ via business coaching and bespoke consultancy solutions please get in touch. |
Over the years I’ ve lost count of the business owners that I’ ve spoken to about:
• How they’ ve lost clear sight of where they are going
• How they constantly get distracted and fail to implement important strategies to grow their business
• How they need to deliver strategic change within their business
What’ s more the emotional highs and lows, the feelings of euphoria when a big new customer is landed coupled with the frustration with the lack of quality and consistency in terms of team outputs are often evident in equal measures.
Having recognised that the skills to transition the business to the next level are not currently within the organisation, the question most of these business owners then find themselves asking is just what sort of third-party help do I need? Do I need a consultant or business coach?
So what does a Business Coach do?
A great business coach will have successfully run or owned multiple businesses and will use all of their experience to look at your business, your actions and your decisions. They will identify your blind spots, and act as a sounding board whilst recognising your potential and ensuring that you develop a strategic plan to realise it. Similarly, they’ ll use their experience to ensure that
|
you are using the very best systems, tools and techniques to address all of these development areas efficiently and effectively.
What does a Business or Management Consultant do?
Business & Management consultants tend to specialise. These specialisms tend to be either in a particular operational field such as IT Transformation, Global Outsourcing or Human Resource Management or alternatively in a specific industry sector such Banking, Manufacturing or Transportation. A consultant will typically work with a business to improve their performance by analysing a specific organisational problem, developing a plan to improve and remedy the specific problem.
Similar to a business coach, the consultant will also look to create value, maximise growth and improve business performance.
The primary benefits of using an experienced consultant is that they reduce the risk of project failure.
The on-going success of the specific project after the consultant has finished their assignment is invariably heavily reliant on the internal team’ s ability to manage the changes going forwards. Consequently, it shouldn’ t be overlooked that many consultancy projects may also require the up-skilling of existing staff or the recruitment of new ones in order to
|
ensure the projects on-going success. Consequently, where businesses lack the necessary internal skills and resources and are required to make changes quickly the appointment of a consultant can often be seen as a highly attractive option.
So what can we conclude?
In summary the most important questions entrepreneurs should ask themselves before deciding on any sort of third-party support are:
•“ What are we trying to achieve and by when?”
•“ Do we have the necessary internal resources?”
•“ Are the existing team capable of delivering the desired outcome?”
•“ Do we need to enhance the capabilities of the team?”
Entrepreneurs must also decide whether the preferred business coach or consultant is qualified and capable of helping them achieve their goals.
This mixture of experience, credibility and chemistry should be considered very carefully.
01793 239542 chris @ chalkhillblue. org
|
|
When people think of the word‘ growth’, they think‘ bigger’,‘ more’,‘ greater’.
I want you to think differently. Think‘ diversification’,‘ variety’,‘ complementary’.
Some companies are experts at creating their own strategies for growth, simply by being‘ bigger’… more outlets, more suppliers, more countries, more customers. Growing your customer base can be the toughest job of them all. So why head straight for that as a means to grow? For small businesses, growth can more easily be accomplished by diversifying. Think Will. i. am, think Richard Branson
Will. i. am started in the music business as a producer, but more
|
recently made it as a tech entrepreneur as a founding stakeholder on Beats Electronics thanks to his partnership with Dr Dre. The result … Beats was bought by Apple in 2014 for $ 3 million.
Richard Branson- serial diversifier. Along with Nik Powell, Branson has taken Virgin from being a record company to radio, holidays, money, health, airline and space travel.
For small businesses it may be well worth looking at how you can diversify. Think about what other products or services complement your existing range. Often we find there are growing requests from our clientele for associated services or products, and this can provide you with a different approach to growth. Your customers
|
already exist, keeping them is the key, and providing additional services or products to increase their repeat business or improve their customer value can really help build growth.
Tech support businesses could provide access to equipment and software, salons can compete by providing more on site services, providing speciality or niche products that partner your business such as building consultants that work closely with architects and surveyors, plumbers and electricians, all provide an opportunity for growth.
Bath has a great reputation when it comes to our small businesses, so look at partner businesses that could provide these complementary services
|
and work with them to accomplish joint goals.
It can also make sound financial sense to consider diversification … if technology surpasses you and you are not able to keep up, having a diversity of income streams can save your business from a total collapse. Shall I just leave you with one word … Blackberry.
Small Business Focus is hosting a networking event in partnership with The Business Exchange on Wednesday November 22 at Spaces Bath, promoting health and wellbeing for business success. Owen Morgan of World Health Heroes will be our guest speaker.
|
For more info: www. smallbusinessfocus. co. uk |