Why I Became A Business Coach
Filed under: Business Coaching, Business Development, Business Idea, Business Marketing, Business Planning, Client Spotlight, Sales & Marketing, Uncategorized, business advice
Josh and son Liam: Does it get any better than this?
As a business coach with ActionCOACH of CT, I work with dozens of different types of businesses to help their owners define and realize their goals. It’s challenging work, but I can’t think of anything more gratifying. These are tough economic times, as we all know. So it makes me feel great that I can help my clients achieve their goals, ultimately build stronger more profitable businesses, achieve higher profits and employ more people. It has also given me the opportunity to work with a fantastic group of more than 1200 coaches in the ActionCOACH community in 26 countries, especially and including ActionCOACH of CT owner Jim Malski and my colleagues Geri Sutton and Natalie Havens.
If you had told me five years ago that I would be a business coach today, I probably would have laughed at you, maybe for a second or two – and then I would have thought to myself, “Hey, that sounds like a great idea!” For over 25 years, I worked in Public Policy helping shape defense and foreign policy legislation, as well as a wide range of domestic policies. For 17 years, I ran a forward-looking Issues Management unit at Philip Morris/Altria Group, where I dealt with U.S. and international issues concerning food, beer and tobacco. I then started my own strategic planning and crisis management consulting business working with the Global 500. I suppose it was this global business background – to try to look around corners and see new opportunities, or mitigate problems – that lead me to becoming a business coach.
RESPECTING SMALL BUSINESS OWNERS
I had another motivation: Everything sold by Kraft Foods, Miller Brewing Company and Philip Morris USA and International reaches the consumer through small retailers in 170+ countries. In just the U.S. alone, I worked with thousands of retailers and their trade associations and other business groups. I learned first-hand just how hard it is to run your own business. The myriad of laws and regulations is mind-boggling. Competition is fierce. Training is almost always on the fly – you learn as you go. Yet tens of millions of people are working in this vast network of small businesses every day and ultimately, small businesses are the heart of the engine that fuels our nation’s $13 trillion economy. Not the government and not big corporations…
BUSINESS COACHING IS AN HONOR
I can think of no greater honor than to work with small business owners to make their lives easier, help them build long-term business plans, achieve marketing and sales breakthroughs and ultimately ensure that their businesses continue when they want to diversify or retire. I think 25 years of training in strategic planning, risk management and issues management prepared me to be a business coach. I am just happy that I was able to find an organization like ActionCOACH of CT that allowed me to make my dream a reality.
If you are a small business owner, let me help you make your dreams a reality as well.
Business Advice Tip #20: The Value of a Host Beneficiary for Business Owners
So how do you get leads in your business?
Typical responses include:
- Networking
- Referrals
- Direct Market
- Web sites/internet
- Strategic Alliances
- Etc.
There is one opportunity that is often overlooked and that is a host beneficiary.
This is often confused with strategic alliances — but they are different. In a strategic alliance, you are going to introduce each other to each others clients so it is a two way deal. A host beneficiary is less of a two day deal.
Before you embark on a host beneficiary relationship it is key to know your acquisition cost. Understand how much money you need to spend to find a customer. This is crucial when talking about the offer for the host.
Here’s how it works.
Let’s say you are a business attorney who wants to meet business owners and build your business. You have a relationship with a guy that owns (or runs) a commercial management company. So their role is to manage the buildings, work with the tenants and most importantly collect the rent.
Most business owners are terrible at keeping up their minutes so that their corporations are intact. As the attorney, you turn to the commercial guy and offer a years worth of minute review and creation to all of their clients. That way, the commercial guy introduces you to perspective clients and the clients love the commercial guy for it.
- The trick is making the offer LARGE—almost as large as the acquisition cost (lets say 50%+). Often times, people try to do Host Bens on the cheap—a free workshop or lunch. Put some meat on the bone so that that host and the host’s clients get excited about the offer and watch your business explode!
To make a difference in your business you have to change the way you do things – including your attitude. Let us motivate you and your business and get you started on the road to positive success. Attend one of our upcoming profit building seminars and take the next step.
To get started today click the link above. We look forward to helping you grow your business and making the kind of money you always thought possible
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