Put me in, Coach! I’m ready to play …. today! Look at me, I can be centerfield.
Baseball season is here -America’s National past time. Opening day at Yankee Stadium was tough to watch Matsui wearing red instead of pinstripes. He and Coach Joe Torre are sadly missed by this fan. When I was growing up in the 70’s, a coach was the guy who made you do extra laps if you were late for practice.
JOHN FOGERTY & KEITH URBAN – CENTERFIELD
Today the word coach can mean a lot of things.
You have:
Executive Coach
Business Coach
Life Coach
Organizational Coach
Wellness Coach
Spiritual Coach
Career Coach
Relationship Coach
I even met a Garden Coach at a recent networking event.
Truth is there is no regulation in the coaching industry so you can pretty much hang a shingle and call yourself a Coach without any requirements. All Action Coaches are certified and trained through the International Business Coaching Institute. This is only one reason to work with us.
The real reason to hire Jim Malski and Josh Slavitt is that they have owned small business themselves. They understand what it means to make payroll. They are corporate refugees who chose to be entrepreneurs. They bought a franchise after years of working as executives.
Jim is a former CPA with PriceWaterhouseCoopers. Josh did 25 years at Philip Morris USA. They are good at what they do because of their experience but more important, they have a passion for helping business owners be more profitable. Besides being a business mentor who will help you make more money, they will also work with you create a happy lifestyle. One that is balanced and will give you time so you can concentrate on what’s really important. Like taking your son to a baseball game.
Oh by the way the big Kahuna of Business Coaches, ActionCOACH International’s Brad Sugars, the person who started the business in 1993, is on national tour starting this week. His 2010 North America Business is Booming Tour will be in Bridgeport, CT on June15th. Please check our website www.actioncoachnow.com for ticket details.
Business Advice Tip #9: Is Your Business Healthy?
Business Advice Tip #9:
Is Your Business Healthy?
Try Using The Five Ways System To Check
There are lots of different metrics that can be used to determine the health of a business: Business Plan Review – Gap Analysis of Goals; Gross Margin Assessment; Profit/Loss Statements; Cashflow Statement; Number of Customers; Length of Accounts Receivable. All are extremely valuable and a business owner truly interested in the success of their business should be reviewing these types of statistics on a regular basis. That said, if you are looking for one extremely simple formula to both assess the health of your business and set financial business goals for the future, there is nothing better than ActionCOACH’s Five Ways System.
The formula is incredibly simple and easy to use:
Number of Leads (your marketing efforts)
x
Conversion Rate (your sales process)
=
Clients
x
Number of Transactions (per customer)
x
Average Sale (per customer)
=
Revenue
x
Profit Margin (Revenues – costs)
=
Net Profit
First, if you don’t know one of these numbers in your business, you should automatically conclude that you have an issue that needs to be addressed. Because if you don’t know these numbers, then how do you really know how profitable your business is and more importantly how you can improve it?
Second, the reason why “Clients,” “Revenue,” and “Net Profit” are in black is because they are an OUTCOME of the other five activities. Everyone WANTS more clients, revenue and net profits. The question is: How do you get them? And that is answered by having an effective marketing and sales process, increasing the number of transactions by customer, increasing the average price of your sales to your customers and cutting FAT out of your business.
Written by Coach Josh Slavitt, pictured here with his son Liam
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