The Business Coach Way to Build Your Business

As a Business Coach by passion and vocation, our goal is to help business owners achieve business success through analysis and systems implementation. What this means is that we help the self-employed build a profitable commercial enterprise that works without them. After all, systems should run a business, not the owner.

The first thing we do is to access the business by working with the business owners to determine where they are, where they would like to be, and then helping them implement systems and strategies based on what we find that would be the most appropriate for that particular business’s needs (increase profitability, systems, employee training, controls, etc.).

Today let's assess the business in the five key profit generating areas:

1. Lead Generation (no. of potential customers generated);

2. Conversion Rate (success rate or ratio of customers over leads generated);

3. Average Dollar Sale (average invoiced value or average sale value in dollar terms);

4. Average Number of Transactions (frequency of patronage in a year);

5. Profit Margins.

Those areas are highlighted in the following equation:

Lead Generation x Conversion Rate = No. of Customers

No. of Customers x Average Dollar Sale x Average No. of Transactions = Sales

Sales x Profit Margins = Profits

So basically, we are looking at the equation for profitability for any business, in any market, in any industry sector. Throughout all of these sectors of business, the equation for profitability stays the same.

We have developed 367 different systems and strategies under these five variables. For example, Lead Generation has 83 systems that can be implemented to help business owners increase their lead flow. In addition, we have 89 strategies that may be used to increase your Conversion Rate, and so on down the line.

Once we have established where the business is, we are able to go back and look through our systems and determine which of those would be the most appropriate to implement in increasing the profitability of that particular business type.

We use the information we have gathered on the business to put together a detailed Business Alignment Report that will serve as our roadmap to success for the next 12 months of Business Coaching.

Once we have established that the business can be profitable, we move on to our secondary goal, which takes place during the Coaching process. That goal is to teach the business owner the difference between working on their business and working in their business. Many business owners can spend 80 hours or more per week just trying to keep their business alive. Most often, what we find is that they are working on the wrong aspects and end up spinning in a relentless circle until the business finally folds in on top of them. Our goal is to help them in working on growing their business instead of concentrating on the technical issues, which are usually counterproductive to growth.

Throughout the process of Business Coaching we will spend about an hour each week with the business owner (depending on their needs) helping them stay focused on their goals, testing and measuring results, assisting them with potential obstacles for growth, systems implementation, etc. We hold our clients accountable for reaching the goals that we set together, and work diligently to help them achieve great results!

So basically, we teach the self-employed or entrepreneurs how to become successful business owners. We teach them how to make more money for less effort, and we have been very successful at that.

If you too want to be successful in your business, you can apply the above “5-Way Method” to build your business. Happy business building!

About the Author:
Andy Ng is a Business Coach & Trainer with Asia Coaching Training, visit www.asiatrainers.com for details. Andy conducts weekly seminars on 23 business topics on every Friday 2 to 6 pm. He also conducts fortnightly Group Coaching Programs and limited one-to-one Coaching Programs to businesses. Email to andythecoach@gmail.com or text him at 8201-4347 now to see how you too can tap into business coaching. Related articles on business:

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