Tuesday, 16 June 2009 9:58 PM
"A business coach can help identify the ISSUES in your business and provide practical SOLUTIONS so that you can reach your business goals faster"
Do you want to boost your business performance? Do you seek to gain more control of your business? Are you open to ways of improving your business?
During this article you are going to discover the benefits engaging a business coach can bring to your business.
Most businesses are started or purchased by people who are good at what they do. Unfortunately, many of the courses and practical experiences that have helped people become a great dentist, lawyer, graphic designer, etc have NOT equipped them with the essential knowledge and skills to run and build a thriving business. Often the business experiences come from hard-fought first-hand lessons, which can be both costly and stressful for the business owner.
Sometimes business owners get swamped by all the tasks of running a business, which causes them to lose focus and feel overwhelmed by problems such as:
-
A lack of purpose;
-
Fluctuating sales;
-
Inconsistent cash flow;
-
Inadequate profit and
-
Staff management.
Businesses who suffer from any of the above issues can benefit from the services of a business coach. However, some people think that only a struggling business would engage a business coach. The reality is that many successful businesses use business coaches as their secret weapon.
What is a business coach? Every great athlete is surrounded by coaches, mentors and advisors. Therefore in a business context, think of a business coach as a mentor or advisor who can help you set goals, implement strategies and track your progress so that you can reach your goals in the shortest possible time. You also benefit from a non-emotional objective view of your business and their experience in handling a vast range of situations.
Business coaches represent a great investment when you consider the financial return and other benefits of their advice. Starting from as little as a few hundred dollars per month, a business coach can help you:
-
Increase your marketing effectiveness and sales conversion to grow your revenue.
-
Improve your expense management and grow your profitability.
-
Increase the level of customer satisfaction which can fuel your word-of-mouth promotion and ensure ongoing revenue for your business.
-
Attract, manage and retain quality staff.
-
Create efficient and effective processes and systems which will result in a smooth operation.
-
Develop control reporting systems so that you gain feedback about your business performance.
In addition a business coach can help you:
-
Clarify your vision and purpose
-
Solve your business problems or frustrations
-
Identify and take advantage of opportunities
-
Navigate through a changing market or economy
-
Develop and refine your ideas
-
Become more accountable
-
Design a plan of action
-
Communicate more clearly and confidently
-
Become a more effective leader
Click on the video below to hear one of our clients talk about the experience of using a business coach.
Best Practice Consulting - Sean Steele from the Best Practice channel on Vimeo.
Business coaches won't work for everyone! Typically clients who get the most out of the process are:
(1) Ready mentally, physically and emotionally for change;
(2) Are willing to make the financial investment and
(3) Are 100% committed to achieving a great result.
If you are worried about an aspect of your business or you would like an objective view of how you are performing or you would like to take your business to the next level, contact us. If you are ready to take action, fill-in the form below and one of our business coaches will contact you.
Filed Under: Business Coaching Articles | 14 Comments
Tuesday, 16 June 2009 2:45 PM
It's Tax Time - Again!
"Find out how you can LEGALLY MINIMISE your TAXATION obligations"
Some business owners simply pay too much tax! This occurs because they do not use strategies which legally minimise their taxation obligations. As a result the business can suffer a drain on cash flow and in the end the money goes to the taxman instead of you. Therefore, we recommend to all our clients that they plan (with their accountant) for their taxation liabilities and consider appropriate tax deductions prior to June 30.
Some suggested deductions include:
Increasing superannuation payments for directors; however, this is subject to the maximum contribution and also depends on your cash flow position. From 1 July 2009, the maximum deduction for superannuation will be: $25,000 per year (previously $50,000) for the under 50's and $50,000 per year (previously $100,000) for the over 50's.
Making the necessary superannuation payments for all staff.
Purchasing work related equipment.
Bringing forward spending on repairs and maintenance.
Purchasing additional work related supplies and stationery.
Making donations to registered charities.
Writing-off bad debts provided you can prove that you have taken reasonable steps to collect them.
Some of the above strategies (where applicable) can be useful for reducing company taxation liabilities. Please note - this information does not warrant advice and all taxation strategies that apply to you situation should be discussed fully with your taxation accountant.
Filed Under: Business Articles | 15 Comments