Business owners are, on the whole, very serious about their
businesses, so why do so many good businesses fail?
Often, when we talk to business owners looking for support
in their business, they describe the product they sell or service they provide
with enthusiasm and excitement; they’re passionate about what they do and they
are genuinely good at it. However, many
business owners who went into business because they were good at something or
because they enjoyed it end up struggling.
One example of this would be a talented hair dressing salon
owner I met recently; she loved cutting and styling hair and, after of years of
working for others, decided to open her own salon. She was very good at what she did and even
taught colouring techniques for a high end brand that recruited her having seen
some of her models, yet her business was not making a substantial profit. Upon discussing this with her, she surmised
the problem in the following statement, “I love what I do, I just don’t know
how to run a business.”
It occurred to me that this is true for many business
owners; you can have all the skill, talent and qualifications for a business
idea that you like, but without at least a little business running expertise,
you will never be able to make a success of your business.
Business owners often set up businesses having little or no
clue about cash flow, profit and loss or break even points, team training,
marketing or leadership skills, let alone how to work on improving these areas in
their business. Part of what we do is to
help business owners get to grips with business basics (although they really
are anything but basic in their value).
This helps business owners to unleash the potential in their businesses.
This week I will be working with business owners on precisely
this area; transforming the fantastic ideas and skills they have into serious
business ventures through key strategies that have the potential to help you
grow the business you desire.
If you’d like more information on unleashing the potential in
your business, feel free to contact us.
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