Why we need a coach mentor to grow our business
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Why we need a coach mentor to grow our business

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An article about why we need to Change Your Current THINKING ‘In times of rapid change, experience could be your worst enemy….’

An article about why we need to Change Your Current THINKING ‘In times of rapid change, experience could be your worst enemy….’

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  • Why we need a coach/mentor to help us grow our business!www.FashionMentorOnline.com
  • Change Your Current THINKING‘In times of rapid change, experience could be your worst enemy….’www.FashionMentorOnline.com
  • J. Paul Getty, oil magnate and one-time Guinness Book of Records ‘World’s Richest Man’ said this over 40 years ago. And yet it rings true today, more than ever, especially for small and medium business owners. At a time when all industries are experiencing change at a speed never before seen, SMEs are no exception. Major changes in communication and IT is just one of the curveball globalisation has thrown (quite quickly!) at SME owners writes Aaron Sansoni.www.FashionMentorOnline.com
  • Think about this scenario; you sell shoes (heels, runners, blunderstones – your choice, you’re the boss).You’ve been selling shoes for over 15 years in your one inner city store and you have a strong customer base that’s built on your strong knowledge and friendly customer service.www.FashionMentorOnline.com
  • Then something happens. The Aussie dollar soars against the US. All of a sudden the same shoes you sell are available online for much cheaper. Including postage. What do you do? Do you lower your prices to match at the expense of your tight margins? Do you amp up your product knowledge and friendly personalised service?www.FashionMentorOnline.com
  • Just as you’ve calmed down over disaster one, disaster two strikes. You see on the morning news that there are protests on the other side of the world about the treatment of local workers in sweatshops. Sweatshops that manufacture a line of shoes that you sell. In fact, they are your biggest seller. You are relieved that at least it’s happening over on the other side o f the world instead of here, in the proximity of your store’s street frontage! But then at the end of the news story you links to social pages, calling for global protest; people are encouraged to name and shame retailers. All of a sudden it only takes one click to bring a seemingly far away problem to your doorstep. What will you do? Will your 15 years of experience be enough to help you?www.FashionMentorOnline.com
  • These scenarios might seem extreme, but the underlying issues are increasingly common for SMEs; customers are becoming self-educated, tech savvy and having greater access to alternative product/service options than ever before. Customer expectations, B2B relationships, marketing, distribution channels – the entire business landscape is changing and to keep doing what has worked for you in the last 5, 10, 15, 20 years is simply not enough anymore.www.FashionMentorOnline.com
  • Relying solely on what your experience has taught you or what you have done may in fact be killing your business instead of helping it grow. Realising this, many SME owners have turned to experts in the form of consultants for help.They have recognised the need for an objective outsider with a fresh perspective and strong knowledge base different from their own to come in and work on their business.www.FashionMentorOnline.com
  • Business consultants vary in many ways, for example you can hire subspecialists such as marketing consultants or sales consultants. However there are commonalities across all consultants, with the utmost being how they operate within your business.A consultant is there to do just that; consult. In a nutshell – you tell them your problem, they come into your business for a specified period of time and, using their expertise and resources, they fix your problem. Then they pack up and go.www.FashionMentorOnline.com
  • A consultant can be highly valuable to your business and produce great results. They are always deliverable-focused and ‘do’ the work for you. However, the flipside is that when they leave you, so does all the knowledge.Unlike a consultant, a business coach works with you, not for you. Through two-way open communication, business coaches transfer their knowledge to you so that you as a business owner learn skills and techniques that will continue to serve you even after they leave.www.FashionMentorOnline.com
  • So, let’s link this to one of the above disaster scenarios. In the case of the online stores cannibalising your sales due to the fluctuating dollar, a business consultant would come in and fix the current problem, generally in isolation of the rest of the business. They might recommend you lowering your margin by a certain percentage that they calculated as the exact amount to remain competitive. You do as they say and – voila! Problem solved for now.www.FashionMentorOnline.com
  • www.FashionMentorOnline.com
  • Why we need a coach/mentor to help us grow our business!www.FashionMentorOnline.com
  • You’ve just seen the one of the articles relating to Business Success and Business Development, if you would like more information, just visit me at www.FashionMentorOnline.com or just email me at cherylmwidlend@gmail.com And if you have any questions, just email me at cherylmwidlend@gmail.comand I'll be happy to answer them for you. WarmlyCheryl

Transcript

  • 1. Why we need a coach/mentor to help us grow our business!
  • 2. Change Your Current THINKING ‘In times of rapidchange, experience could be your worst enemy….’
  • 3. J. Paul Getty, oil magnate and one-time GuinnessBook of Records ‘World’s Richest Man’ said thisover 40 years ago. And yet it rings true today, morethan ever, especially for small and medium businessowners. At a time when all industries areexperiencing change at a speed never before seen,SMEs are no exception. Major changes incommunication and IT is just one of the curveballglobalisation has thrown (quite quickly!) at SMEowners writes Aaron Sansoni.
  • 4. Think about this scenario; you sell shoes(heels, runners, blunderstones – yourchoice, you’re the boss).You’ve been selling shoes for over 15 years inyour one inner city store and you have a strongcustomer base that’s built on your strongknowledge and friendly customer service.
  • 5. Then something happens. The Aussie dollarsoars against the US. All of a sudden the sameshoes you sell are available online for muchcheaper. Including postage. What do you do? Doyou lower your prices to match at the expenseof your tight margins? Do you amp up yourproduct knowledge and friendly personalisedservice?
  • 6. Just as you’ve calmed down over disaster one, disastertwo strikes. You see on the morning news that there areprotests on the other side of the world about thetreatment of local workers in sweatshops. Sweatshopsthat manufacture a line of shoes that you sell. Infact, they are your biggest seller. You are relieved that atleast it’s happening over on the other side o f the worldinstead of here, in the proximity of your store’s streetfrontage! But then at the end of the news story you linksto social pages, calling for global protest; people areencouraged to name and shame retailers. All of a suddenit only takes one click to bring a seemingly far awayproblem to your doorstep. What will you do? Will your 15years of experience be enough to help you?
  • 7. These scenarios might seem extreme, but theunderlying issues are increasingly common forSMEs; customers are becomingself-educated, tech savvy and having greateraccess to alternative product/service optionsthan ever before. Customer expectations, B2Brelationships, marketing, distribution channels –the entire business landscape is changing and tokeep doing what has worked for you in the last5, 10, 15, 20 years is simply not enoughanymore.
  • 8. Relying solely on what your experience hastaught you or what you have done may in factbe killing your business instead of helping itgrow. Realising this, many SME owners haveturned to experts in the form of consultants forhelp.They have recognised the need for an objectiveoutsider with a fresh perspective and strongknowledge base different from their own tocome in and work on their business.
  • 9. Business consultants vary in many ways, forexample you can hire subspecialists such asmarketing consultants or sales consultants.However there are commonalities across allconsultants, with the utmost being how theyoperate within your business.A consultant is there to do just that; consult. In anutshell – you tell them your problem, they comeinto your business for a specified period of timeand, using their expertise and resources, they fixyour problem. Then they pack up and go.
  • 10. A consultant can be highly valuable to your businessand produce great results. They are alwaysdeliverable-focused and ‘do’ the work for you.However, the flipside is that when they leaveyou, so does all the knowledge.Unlike a consultant, a business coach works withyou, not for you. Through two-way opencommunication, business coaches transfer theirknowledge to you so that you as a business ownerlearn skills and techniques that will continue toserve you even after they leave.
  • 11. So, let’s link this to one of the above disasterscenarios. In the case of the online storescannibalising your sales due to the fluctuatingdollar, a business consultant would come in andfix the current problem, generally in isolation ofthe rest of the business. They might recommendyou lowering your margin by a certainpercentage that they calculated as the exactamount to remain competitive. You do as theysay and – voila! Problem solved for now.
  • 12. A business coach on the other hand would comeinto your business holistically with you. Yes, theywould look at your margins but they wouldn’t stopthere. They will work with you to motivate and getthe best out of you until you have come up with agame plan to solve this problem and position yourbusiness in good stead for future issues. The bestpart is they haven’t just fixed your specific problem– they have transferred life-long learning and skillsthat you can continue to use and develop. TGRAaron Sansoni is the Founder & CEO of Coach Me.
  • 13. Why we need a coach/mentor to help us grow our business!
  • 14. You’ve just seen the one of the articles relatingto Business Success and BusinessDevelopment, if you would like moreinformation, just visit me atwww.FashionMentorOnline.com or just emailme at cherylmwidlend@gmail.comAnd if you have any questions, just email me atcherylmwidlend@gmail.com and Ill be happy toanswer them for you.WarmlyCheryl