Time, Team, Money, Stress… The BIG 4 Challenges of Business Ownership!!

These 4 comprise the VAST majority of challenges facing business owners on a daily basis.  They are consuming and overwhelming and can impact the outcome of our lives as business owners like few things can.

Time – There is never enough

Team- Finding the right one, keeping the right one, managing the right way…

Money- Enough said

Stress- Stifling, overwhelming

Staying on top of these 4 challenges IS THE KEY to successful business ownership.  Those who plan properly in each of these 4 areas will have the clients that those who don’t wish they had.

Start by looking at which of these 4 is the most challenging and the least challenging for you right now.  Use the least challenging as an asset in tackling the most challenging!

Then create a chart that will help you very specifically identify the challenge, document your plan, implementation and milestones for completion (email me @ jgarcia@tampabaycoaching.com and I will send you my chart).  By documenting, planning and tracking you can proactively begin to move towards overcoming these challenges and having the business you always thought you would!

If you are stuck with one or more of these please contact me to schedule a free phone conversation and Strategic Performance Review.

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“In America, every day is a new beginning, and every sunset is merely the latest milestone on a voyage that never ends.  For this is the land that has never become, but is always in the act of becoming.”  -Ronald Reagan

I am so thankful that God has allowed me the privilege of being an American, what endless possibilities!

Just last week, my beloved USF Bulls, experienced a huge victory!  They played a formidable (some would say) opponent at their stadium in an environment that is, let’s just say, less than hospitable to visiting teams.  The Bulls scored first, kept the lead and finished the game strong.  Can you imagine however if the Bulls had scored first, kept the lead right up until the end and then lost the game?  Would the media have made such a big story about the outcome?  THE BULLS ALMOST BEAT THE SEMINOLES…..  I don’t believe that would have made the national news!

Fortunately for the Bulls, and their fans, they were able to finish strong!  That is the goal each and every one of us should have in front of us on this Friday morning!  Let’s have clear, written objectives for the day so that we can wrap up the week’s business in a manner that gives us a sense of accomplishment so that going into the weekend we can say that we finished strong!

Have a great Friday!… and weekend!

Have you heard the statement that “cash flow is king right now?”  Indeed for many businesses a true statement, but are you sure you are cash positive?  Did you know that many business owners assume that an increase in sales, even if according to their forecasts, means that they are better off than before the sales increase?  This is a line of thinking that can spell DISASTER for a business.  More cash in the register on a daily basis doesn’t necessarily equal more cash at the end of the month!  There are Key Performance Indicators (KPIs) that must first be carefully identified and then diligently monitored to see if more cash in the register will equal more profits at the end of the month!

By carefully analyzing the KPIs in your business you can, at any given point, have a clear understanding of what side of the cash equation you will end up on at the end of the month.  Take some time to go through each aspect of your business to identify the areas that impact your profitability.  Then, be sure you are constantly on top of those indicators!

Check out this great article on Coaching!

http://www.fastcompany.com/resources/learning/bolt/041006.html

Business owners are unique types of individuals! They are visionaries, go getters, not satisfied with the “every day.” They are skilled in what they do and have a desire to provide a great product or service. To that end, they hone their craft and the processes associated with the creation of or delivery of that which they provide their customers. No small undertaking! There is always room for improvement and time is always of essence when product or service quality is on the line….
It is little wonder that the amount of time left over for working ON the business is usually a fraction of what it should be. I say “should be” because the precious time that we as owner’s invest working ON the business can have exponential returns on freeing up time working IN our businesses!

Make sure to proactively schedule time to work ON your business! Identify key areas that require your attention and devote that time to take valuable and worthwhile steps toward developing your business!

Ah, another Monday morning, feeling physically worn down, mentally sluggish and emotionally distant.  As business professionals we all struggle with motivation issues from time to time, especially Monday mornings it seems.  But the reality is that Monday’s hold great potential for the week.  We can use it as a thermostat for the entire week’s performance.  If we follow 3 simple steps we can maximize our performance for the entire week by making the most of Monday!!!

1. Begin the day with a “quiet time.” – spend some time in the morning in meditation, planning and excercise.
2. Re-visit and re-write your top goals – use the s.m.a.r.t. approach to goals.
3. Build in some rewards for yourself during the week (for meeting your goals of course!).

These 3 simple steps can have a huge impact on your week and before you know it, Mondays will take on a whole new meaning as the day that determines your success for the entire week!

HAVE A GREAT WEEK!

“Far better is it to dare mighty things, to win glorious triumphs, even though checkered by failure than to rank with those poor spirits who neither enjoy much nor suffer much, because they live in a gray twilight that knows not victory nor defeat. ”
– Theodore Roosevelt, 26th U.S. President

One of my favorite quotes!  One that I like to read (and post) on a regular basis as a reminder that we must be thankful for the ability and opportunity to try great things and that we must persevere when things get difficult!

My goal as a Certified FocalPoint Business Coach is to help businesses grow. One of the ways I accomplish this is by getting to know the “Culture” of the organization and how the owner’s goals are positively or negatively affected by it. Once in a while, a counterproductive culture must be gently changed in order to facilitate growth. Is your business’ culture in-line with your goals? Call me for your complimentary coaching session (mention culture).

Control, it’s what being deliberate is all about!

When you are deliberate you are acting out of thought, plan, effort and control. Being deliberate is one of the keys to a disciplined life and it is a key that requires one simple action…. pause! A pause will allow us to think, plan, coordinate and keep us out of trouble. By taking a few minutes to ponder the consequences of our actions or lack there of, we can greately improve our effectiveness and efficiency as we move through life.

At Tampa Bay Business Coaching, a FocalPoint Company, we work with our clients to show them how to be deliberate about their businesses!