Feb 6, 2024 | Coaching | 0 comments

Mastering Your Business – what gives you an almost unfair advantage…

Coaching | 0 comments

Mike Ronchetti

Mastering Your Business

what gives you an almost unfair advantage

Face it, today’s business owners have more resources than ever to model, launch, create profits, scale, and create a legacy for decades.  

So why do small business closures rates continue to grow?

I look to an Indiana Jones movie line “choose wisely” as the great determinate.

Ask 100 small business owners do they believe their business has much more potential than they have achieved so far… on average 75% raise their hand.

When you ask them can they or someone on their payroll map out a pathway to unlock that potential and make sure action is taken each week, month, and quarter less than 4% raise their hand!  

If we ask the same question in sports, entertainment, or personal fitness then anyone looking to be more competitive in a highly competitive arena would say:

 “Yes I have a coach who does that!

Hang on, are you saying there are coaches just for business and that I should have one?

Yes and No – yes there are people with experience and processes who specialize in working with owner operated businesses to set out a growth Pathway and then a step by step Action Plan with scheduled discussion and training to make sure things get implemented.

Many people have had a stab at planning and implementing but just like New Years resolutions, life happens, pressure comes on and those great ideas get lost in the day-to-day firefighting but with a coach you put in the effort to break through to the next level you know is there in yourself and your business.

OK how does coaching in a Business work?  

Business coaching is an ongoing process of assisting you to grow personally and professionally because as you grow your business does. 

A business coach provides resources, processes, experience, insight, and motivation to guide business owners to take charge of their own success. They do this by improving sales and marketing, time management, productivity, teamwork, performance, and leadership skills. 

Just like in sports, coaches drive results and make sure business owners succeed in a way they haven’t found possible on their own. 

Who usually Hires a Business Coach?  

Business owners who want to take their success to the next level by increasing profits, improving their teams, and striving for a better quality of life should hire a business coach. We know that business owners are working 60, 70, or even 80 hours a week to make their business successful. Business doesn’t have to be that way. Having a coach can help you see where you can make small changes for big results. 

Does Business Coaching Really Work? 

Yes, a local tree service company wanted to grow into a more diverse exterior home services provider with a new emphasis on winter offerings.  The client worked to uncover his strengths and establish a new approach that would generate higher profit revenue sources. After the first year he achieved his revenue goals, reduced his workforce insurance risks, returned to a higher profit margin, and set his next year expansion goals in place.  His investment in our fees was repaid twice in new profits. His next year is planned to leverage the growth and increase his profits. 

Your Takeaway: 

This all sounds great but the best way to find out what a great business coach provides is to invite them into your business and explain where you want to go and in what time frame and then have the coach outline exactly how they would get you there and, if they are very good, how working with them more than pays for itself along the way.

 

Who is Mike Ronchetti?

With more than thirty-five years of real-life, on-the-ground small business experience across various industries, Mike has owned, operated, and successfully exited seven businesses. Mike lived in Plainfield, IL, St. Paul, MN, Anchorage, AK., and returned in 2013 to Plainfield. In 2020 Mike and Becky, his wife, relocated to South Bend to be closer to family. In 2021 he became an ActionCOACH certified business and executive coach and opened a local office.  His mission is to work with businesses owners to create vivid dreams, establish aggressive goals and then crush them.

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