Finding The Right Coach

The one surprising revelation from surveys of small business owners' worries is that they never identify the one thing they should really be concerned about: their own inadequacies.

Possibly this is the difference between a small business owner and an entrepreneur.

A recent MYOB survey found a third of business owners were considering not hiring employees because of the present unfair dismissal laws.

Some 44 per cent of respondents complained about the level of government 'red tape' and that compliance requirements had increased over the past three years.

The big issue was the Business Activity Statement, which 31 per cent of respondents said was their biggest headache.

The survey also found that interest rates, business costs and government policies were major concerns although the negative ratings were down on the quarter.

The August Sensis Small Business Report found other concerns bugging business owners. From top to bottom, they included finding quality staff, lack of work, big business competition, cash flow, government regulations, drought, costs, consumer confidence, taxes, time, state regulations and red tape.

Clearly, small business owners are in conflict over what they are concerned about, but nowhere do you ever see these people say, "I am worried about what I don't know".

When you talk to big vision entrepreneurs they never list the concerns that the mainstream business owner worries about, and that's because they do something about it.

The high-flyers know they will be grounded if they don't eliminate obstructions to growth.

Sure, they have guts and they do brave things like borrowing to make a dream come true, but guts are used in other productive ways.

One such way is to do a SWOT analysis, not only on their business but also on themselves.

A SWOT analysis refers to the strengths, weaknesses, opportunities and threats that need to be understood to grow a business.

It is brave to analyse yourself or to pay someone to do it for you and then face up to a need for change.

Some entrepreneurs even have to face the fact that their strengths were in building up a business, working the marketing angles and creating a fantastic brand.

They then put in systems and administrative experts to make the business hum along successfully.

Some entrepreneurs choose to step back to become chairman and work on getting their golf handicap down.

In Sport (as in business) - you need a coach - whether it's a serving coach, a fitness coach or a kicking coach.

At Advantage One, we have spent 25 years honing our skills in wealth creation and wealth preservation, so now we coach our clients to their financial security.

We will identify weaknesses and analyse what you need to do to improve and be successful.

By employing a coach to help you can be the difference.

We coach winning financial strategies and tactics.

Tony Martin - Director Advantage One
Strategic Financial Coach