Local business expert can help your business thrive
When someone starts a business, they are typically a master in the field in which they are entering. In many cases, they have been working for someone else for quite some time and they have mastered the trade, and want to take control of their own future.
This is admirable and is the essence of the American Dream, but for many inexperienced business owners they are often met with uncharted waters which accompany actually running a company rather than working inside one and can struggle, even if the products and services they’re offering are superior to their competition’s.
I am a business coach who works in the Cincinnati, Ohio area, and it’s my goal to help owners of businesses of any size or industry reach the goals they have for their business.
Throughout my years as a business coach, I have worked with people who were in the situation described above. They were fantastic at what they did, but didn’t understand how to lead a business rather than work in one. As a business coach, I combine my expertise in the business world with my client’s passion and knowledge of their industry to help their company thrive.
There are a few common mistakes many new business owners make, so I will discuss those and give some tips on how they can be avoided.
The first mistake many business owners make is to neglect long-term and strategic planning. Without clear goals and a mission for your business, it’s impossible to make smart decisions to advance your company. Your business planning shouldn’t stop when you get your loan approved, it should continue indefinitely and as the leader of the organization you must focus on the big picture rather than the day-to-day operations.
Another common mistake goes hand-in-hand with the one we just mentioned, and this is the failure to delegate properly and hire people who can be trusted. So many business owners are great in their field, but they refuse to relinquish control over their products or services. In this scenario, the owner never has time to make strategic plans, and they get mired down in the daily struggles of the job. When an owner can delegate, it frees them up to run the organization rather than work in it.
Entrepreneurs must also understand the administrative burden which accompanies business ownership. Your industry might have licensing requirements, your city might have ordinances which govern your business differently, you will have to process payroll correctly, find the correct office space and negotiate the lease… the list goes on and on.
A common mistake is to underestimate the work you must put in outside of the actual job duties to keep your business compliant, organized and properly staffed. Luckily, there are resources which can help in this area, but many people try to take all this on in-house and struggle to keep everything afloat.
These are just a few common pitfalls of newer businesses, but as a business coach I can help you evaluate your operation and optimize your company. If you are ready to take your business to another level and avoid detrimental mistakes, contact me today and I will be happy to help you reach your professional goals.
