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 |