What Is Business Coaching

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  • What Is Business Coaching

    1. 1. Michael Stoughton Business Coach
    2. 2. © actionCOACH 2006, all rights reserved <ul><li>Owner of Fast Track Business Solutions, Inc </li></ul><ul><li>I have studied business both in academia, receiving </li></ul><ul><li>an MBA and in practice within corporate America for </li></ul><ul><li>over 16 years. </li></ul><ul><li>Varied background with experience in retail </li></ul><ul><li>management, product development, sales force </li></ul><ul><li>management and marketing management. </li></ul><ul><li>Strong background in sales, classical marketing, </li></ul><ul><li>merchandising, customer service, operations and </li></ul><ul><li>people management/development. </li></ul><ul><li>Past President Minnesota Entrepreneurs (ME!) </li></ul>Your presenter: Michael Stoughton
    3. 3. My Priority © actionCOACH 2006, all rights reserved
    4. 4. <ul><li>We are the World’s #1 Business Coaching Team … </li></ul><ul><li>We started in Australia in 1993 by Entrepreneur, Author and Multi-millionaire Brad Sugars … </li></ul><ul><li>Internationally Franchising since 1997... </li></ul><ul><li>More than 388,000 seminar attendees and over 10,000 coaching clients world-wide ... </li></ul><ul><li>1100 coaches in 23 different countries ... </li></ul><ul><li>Our vision is to create ‘World abundance through business re-education” … </li></ul><ul><li>Ranked in the top 100 franchises in the world and the #1 Business Consulting Franchise globally </li></ul>Who is ActionCOACH?
    5. 5. The 3 most common frustrations of business owners….. Lack of Money - The business doesn’t generate the revenue & profits the business owner desires or believes possible from their business. Time - The owner works too many hours in the business therefore missing out on time with family & friends and developing interests outside the business. Or has time management issues. Team Challenges - The team doesn’t perform to the level the business owner desires. Or, the business owner has problems recruiting the right people .
    6. 6. Where do you need assistance in your business? Some business owners need assistance in all three areas, others only need help in one or two areas. Which areas would like to improve?
    7. 7. Does your business look more like this? © actionCOACH 2006, all rights reserved Most Businesses are strong in one area but neglect the other key areas. You MUST be strong in all areas. 80% of small businesses FAIL because they fail to understand all areas of their business. Operations Marketing Financial
    8. 8. Success in Business is being strong in all 3 areas… * FINANCIAL * OPERATIONS * MARKETING © actionCOACH 2006, all rights reserved SUCCESS Financial Marketing Operations
    9. 9. Wealth Creation Ladder LEVEL 1 LEVEL 5 LEVEL 4 LEVEL 3 LEVEL 2 LEVEL 0 The Employee The Investor The Owner/Leader The Manager The Self Employed The Entrepreneur
    10. 10. 6 Steps to Massive Results… Mastery Niche Leverage Team Synergy Entrepreneur M A S S I V E R E S U L T S Eliminate Chaos Cashflow, Financials, Basic systems, Team, T&M, KPIs No price competition USP, Guarantee, Range, ABCD customers Efficiency Range extension T&M, and Systems improvement Structure for Growth People & Education, T&M, Systems, and PM A Well Oiled Machine People & Ed and Systems & Technology Owner’s Personal Growth , Investment
    11. 11. ActionCOACH definition of a Business ... <ul><li>A Commercial, Profitable, Enterprise - </li></ul><ul><li>that Works – </li></ul><ul><li>with-out ME ... </li></ul>Remember to work ‘ON’ your business not just ‘IN’ your business ...
    12. 12. Your Coach will focus on 9 Key areas in your business…. © actionCOACH 2006, all rights reserved 4 Key Components of SYSTEMIZATION Plus… 5 Key Areas to Grow your Business and Increase your PROFITS.
    13. 13. 4 Key areas of Systemization © actionCOACH 2006, all rights reserved Systems & Technology Delivery & Distribution Accounting, Test & Measuring People & Education
    14. 14. © actionCOACH 2006, all rights reserved The 4 Key areas of systemization. Systems & Technology Documenting and automating your business so it works without you predictably every time ! Accounting, Test & Measuring Know the numbers from both a Marketing & Cash or Profits point of view. Are you profitable? Delivery & Distribution Get it out 1 st time, on time and to the right place . People & Education Recruit them WELL, Treat them WELL, Train them and help them perform an amazing job. Implementation of systems will mean your business will operate in a predictable fashion, even when you’re not there.
    15. 15. © actionCOACH 2006, all rights reserved <ul><li>Systemizing Your Business </li></ul><ul><li>Free up the time you spend on the day to day operations of your business so as you can focus on the strategic components of your business. Stop being the technician start being the owner! </li></ul><ul><li>Systemise the routine, humanize the exception. </li></ul><ul><li>Remember … </li></ul><ul><li>Systems run your business </li></ul><ul><li>People run your systems </li></ul><ul><li>You lead your people </li></ul>
    16. 16. 90 % of your time should be focused on the strategic components of your business. <ul><li>Most business owners are the technicians in their business doing the day to day tasks… </li></ul><ul><li>So who is running the business? </li></ul><ul><li>Who is Focusing on the Marketing, Recruitment, Training and Systemizing of your business? </li></ul>© actionCOACH 2006, all rights reserved
    17. 17. © actionCOACH 2006, all rights reserved Are you underestimating the ‘people factor’ in your business…your employees, suppliers and customers! 70% 95% 70% 85% 50% 60% Of the reasons why customers are lost is directly related to inadequate communication. Of professionals regard their relationship with their manager/employer as being the key factor in any decision whether to stay or leave their job. Of all change initiatives in businesses fail due to insufficient focus on people. Of business and career success comes from the interpersonal skills a person has, whereas only 15% is due to technical competence. Of time wasted in business is due to lack of trust Of how employees perceive their workplace climate can be traced to the actions of one person – the leader.
    18. 18. © actionCOACH 2006, all rights reserved ActionCOACH’s 5 ways of growing a business… Please let me explain….. Most business owners know how many customers they have, what their revenue is and how much profit they make. But did you know these are all results? This is where it gets exciting!
    19. 19. <ul><li>Number of Leads </li></ul><ul><li>x </li></ul><ul><li>Conversion Rate </li></ul><ul><li>= </li></ul><ul><li>No. of Customers </li></ul><ul><li>x </li></ul><ul><li>No. of Transactions </li></ul><ul><li>x </li></ul><ul><li>Ave. $$$ Sale </li></ul><ul><li>= </li></ul><ul><li>Revenues </li></ul><ul><li>x </li></ul><ul><li>Margin </li></ul><ul><li>= </li></ul><ul><li>$Profit$ </li></ul>ActionCOACH 's 5 Ways to Increase Your Business Profits ...
    20. 20. Let’s put in some numbers ... <ul><li>Number of Leads </li></ul><ul><li>x </li></ul><ul><li>Conversion Rate </li></ul><ul><li>= </li></ul><ul><li>Customers </li></ul><ul><li>x </li></ul><ul><li># of Transactions </li></ul><ul><li>x </li></ul><ul><li>Avg. $$$ Sale </li></ul><ul><li>= </li></ul><ul><li>Revenue </li></ul><ul><li>x </li></ul><ul><li>Profit Margins </li></ul><ul><li>= </li></ul><ul><li>$Profit$ </li></ul><ul><li>4,000 </li></ul><ul><li>x </li></ul><ul><li>25% </li></ul><ul><li>= </li></ul><ul><li>1,000 </li></ul><ul><li>x </li></ul><ul><li>2 </li></ul><ul><li>x </li></ul><ul><li>$100 </li></ul><ul><li>= </li></ul><ul><li>$200,000 </li></ul><ul><li>x </li></ul><ul><li>25% </li></ul><ul><li>= </li></ul><ul><li>$50,000 </li></ul>
    21. 21. With just a 10% increase ... <ul><li>Number of Leads </li></ul><ul><li>x </li></ul><ul><li>Conversion Rate </li></ul><ul><li>= </li></ul><ul><li>Customers </li></ul><ul><li>x </li></ul><ul><li># of Transactions </li></ul><ul><li>x </li></ul><ul><li>Avg. $$$ Sale </li></ul><ul><li>= </li></ul><ul><li>Revenue </li></ul><ul><li>x </li></ul><ul><li>Profit Margins </li></ul><ul><li>= </li></ul><ul><li>$Profit$ </li></ul>4,000 x 25% = 1,000 x 2 x $100 = $200,000 x 25% = $50,000 4,400 x 27.5% = 1,210 x 2.2 x $110 = $292,820 x 27.5% = $80,525.50
    22. 22. That’s a 46% increase in your revenue ... And a massive 61% increase in your profits ...
    23. 23. 7 Key benefits of growing your business with an ActionCOACH Business Coach
    24. 24. You Choose to Work the Hours You Want … <ul><li>Most Business Owners don’t run their biz …, It runs them … </li></ul><ul><li>Less stress … </li></ul><ul><li>Business is supposed to free your time not bury it … </li></ul><ul><li>A Commercial Profitable Enterprise that Works, With-out You … </li></ul><ul><li>Work “ON” not “IN” … </li></ul>
    25. 25. You Choose to Hit Your Profit Targets … <ul><li>Most Biz Owners work for little or no real profit after they draw a basic wage … </li></ul><ul><li>Sales, Marketing and Management strategies … </li></ul><ul><li>Mastery of your numbers… </li></ul><ul><li>ActionCOACH ’s 5 ways to Grow your Business and 4 ways to systemize your Business… </li></ul>
    26. 26. You Choose to Build a Great Team … <ul><li>Turn your staff into a team … </li></ul><ul><li>How to Recruit, Train & Keep Great People … </li></ul><ul><li>Build a common vision and goal … </li></ul><ul><li>A team that works so that you don’t have to … </li></ul>
    27. 27. You Choose to Follow a Proven System … <ul><li>Over 10,000 business owners before you … </li></ul><ul><li>Coaching you Step by Step, week by week … </li></ul><ul><li>Work ON your business instead of just IN it … </li></ul><ul><li>ActionCOACH ‘s 328 profit and business building strategies … </li></ul><ul><li>Franchised company with over 500 Business Coaches … </li></ul><ul><li>Most businesses don’t work - the owner does … </li></ul>
    28. 28. You Choose to Learn Enough so You Can do it Over & Over Again … <ul><li>We don’t do it for you … </li></ul><ul><li>You learn as we go … </li></ul><ul><li>You can apply this knowledge in any business and your life … </li></ul><ul><li>Hundreds of proven systems that work for you … </li></ul>
    29. 29. You Have Your Own Dreams and Goals … <ul><li>Turn your dreams into reality … </li></ul><ul><li>Help you change your life … </li></ul><ul><li>Work less, spend more time with your family … </li></ul><ul><li>Grow your business … </li></ul><ul><li>Achieve the lifestyle you have always dreamed about … </li></ul>
    30. 30. Your Guarantee… <ul><li>You’re guaranteed we’ll be on time for all appointments </li></ul><ul><li>You’re guaranteed access to the latest innovations and knowledge </li></ul><ul><li>You’re guaranteed highly trained and skilled coaches </li></ul><ul><li>You’re guaranteed we’ll push you to achieve more than you thought possible </li></ul><ul><li>You’re guaranteed to get great value from any product or workshop </li></ul><ul><li>You’re guaranteed 100% confidentiality at all times </li></ul><ul><li>You’re guaranteed to have FUN! </li></ul>
    31. 31. How we Coach... 10-80-10 Template – Customize - Critique
    32. 32. You’ll also have the opportunity to enroll in one of our two coaching programs... 1. 1-on-1 2. Group
    33. 33. <ul><li>For businesses doing MORE than $250,000 in revenue… </li></ul><ul><li>Easily affordable - ½ the price of a receptionist… </li></ul><ul><li>Different levels available </li></ul>Investing in your business ... 1-on-1 Coaching
    34. 34. <ul><li>For businesses doing LESS than $250,000 in revenue… </li></ul><ul><li>Great for Start-up companies… </li></ul><ul><li>$2,195 for ALL 7 sessions plus a second person from the business can attend for FREE… </li></ul>Investing in your business ... ActionCLUB
    35. 35. The Coaching Program The Key to Client Success <ul><li>Coach will work with you as you master the skills that will allow you to get the maximum performance out of your business; TIME, TEAM & MONEY. </li></ul><ul><li>After the Alignment Consultation, you coach will guide you through these strategies step by step. </li></ul><ul><li>Your coach will teach you how to test and measure everything. Together, you will adjust what’s not working and improve what is working. </li></ul><ul><li>Your coach will mentor you, teach you, encourage you, and help you deal with challenges that arise in your business, week to week. Your coach will hold you accountable to work on your business and not just in it. </li></ul>
    36. 36. © actionCOACH 2006, all rights reserved Your choice of 4 Levels of Coaching Startup COACH Setup COACH Powerup COACH Freedom COACH You can select from our range of Programs, the one that suits you and your business best. Whether you are a sole proprietor with a revenue of under 100K per year or business with 100 plus team with revenue of $1M+, we have a program to suit you. I will outline these for you and then assist in selecting the program for you.
    37. 37. © actionCOACH 2006, all rights reserved How the Program works <ul><li>With the majority of our programs you’ll have weekly sessions with your coach. These will be a minimum of an hour and will be conducted either face to face at your premises or ours, or over the phone. You may choose to have a combination of phone and face to face sessions. </li></ul><ul><li>At these sessions you will review the past weeks strategies as well as planning the next weeks goals and strategies. Systems, Recruitment and 5 ways strategies will be worked on at these sessions. </li></ul><ul><li>You will be provided with all the information to successfully learn and implement the specific strategy. Your coach will provide you with Tapes, Manuals, Computer Templates, etc. to insure you understand fully. </li></ul>
    38. 38. The 1 st Step in the Coaching Program…. <ul><li>First we will conduct either our initial alignment consultation or our team alignment day. </li></ul><ul><li>Please let me explain…. </li></ul>© actionCOACH 2006, all rights reserved
    39. 39. © actionCOACH 2006, all rights reserved Alignment Consultation <ul><li>Our critical 1 st session, this is where we align ourselves with your business. Generally this session takes between 2 & 3 hours. Some of the areas we cover include….  </li></ul><ul><li>To Determine what you want out of life, YOUR personal goals , short term, mid term & Long term </li></ul><ul><li>To understand what you want out of your business in the next 12 months, 3 years, 5 years plus… </li></ul><ul><li>SWOT Analysis, what are you good at, what do you need to improve, what opportunities are available. </li></ul><ul><li>To come up with ideas on strategies that will guide you to achieving your goals. </li></ul><ul><li>Look at current marketing, systems, recruitment process, etc. </li></ul><ul><li>The Alignment Consultation is recommended for businesses with 4 or less team members. </li></ul>
    40. 40. © actionCOACH 2006, all rights reserved Alignment Training Day For Businesses with 5 or more team members…. <ul><li>Purpose of the Day … </li></ul><ul><li>To Align the Coach with the Business Owners </li></ul><ul><li>To Align the Business Owners with each other </li></ul><ul><li>To Align the Business Owners with their Goals </li></ul><ul><li>To Align the Team with the Owners Goals </li></ul><ul><li>To Align the Team and the Owner as People into a Total Team </li></ul><ul><li>To Jump Start the Coaching Process and results </li></ul><ul><li>This is a full day that generally commences early morning and finishes early evening. </li></ul>
    41. 41. © actionCOACH 2006, all rights reserved How do we get started? <ul><li>The first thing is to schedule a day and time for your alignment consultation or alignment day. </li></ul><ul><li>The paperwork needs to be completed. </li></ul><ul><li>Arrange payment of your initial investment which is the alignment fee and a percentage of your 1 st months coaching. This can be paid by cash, check or credit card. </li></ul><ul><li>The Coaching Component is calculated pro rata to bring it in line with our 1 st of the month due date, please let me explain. </li></ul><ul><li>Your investment for coaching program is payable monthly in advance and can be paid either with EFT or credit card. Our due date is the 1 st of the month. </li></ul>

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