"Isolation Is The Enemy Of Wealth"

As entrepreneurs I think it is fair to say that the primary goal is to grow our business. We strive each year to increase sales, reduce expenses and grow the company's profit. However, there is a "leading killer" lurking out there that will put the brakes on growing your business faster than anything else. Find out what.

Did you know that almost every successful business person has a coach or consultant watching their back. President Obama has a coach as does Oprah and even Steve Jobs had a coach. What is it that these people know that so many of us are missing? As Monica Shah writes "They intuitively understand that Isolation is the Enemy of Wealth."

What does this mean? By trying to run your business on your own without someone to consult, you run into three growth killers.

  1. You can't talk things out with a neutral party that is focused on you and your business.
  2. You put a lot of pressure on yourself to get it right without a sounding board.
  3. Sometimes you just can't see the forest for the trees. You have blindspots and, make no mistake, we all do.

This is not to say that you haven't tried all kinds of business and self improvement programs. You bought the recordings like Tony Robbins, participated in the programs like the 20 group and attended the 1000 person dealer conferences. As one of my dealer clients told me, I have done it all and some of the programs were pretty good, but the same thing was always missing; focus on my business with personalized attention.

What we forget is no 2 business owners have the same set of criteria affecting their business. Despite the fact that I have been in the finance and credit business for over 30 years and have seen just about every recreational product business through the eyes of their financial statements, the first thing I did was hire a consultant to help launch Lifeline Business Solutions. I have had extensive education and training in the practice of starting up a business, winding one down and running one in between. But I found out very quickly there are dozens of things I would not have thought of that my consultant (an expert) led me through.

My sister has been in the wellness business for over 13 years and taken just about every course imaginable to enhance her skills. She emailed me last week looking for advice on a coach to help her grow her business. She said, I am going to take a page out of your book and hire a coach/consultant because I need help to grow my business. I can't do it on my own!

I recently completed a Financial Performance Analysis for a dealer with a bit of a twist. He also wanted me to do an analysis on the effects of adding two product groups to his business. When I complete his financial analysis I said that he could be my poster boy for how a business should be operated. All the ratios, percentages, margins and profit lined up with top performing dealers. I wondered why he wanted me to do the analysis. He said that setting aside the addition of products, he wanted to know if he was hitting the industry targets for profitable dealers and if there was any tweaking he could do to improve. You can always tweak to improve, and that is what a consultant with personalized attention can do for you.

As Monica Shah writes "Without talking things through with other smart people, you can burn up a lot of time, energy and money on a project or a strategy that will NEVER work for you." So stop trying to do it all on your own. There are a lot of great resources out there ready and willing to take you out of Isolation.

If you want to talk about your business, contact me for a free consultation.

Reference: Monica Shah's Revenue Breakthrough

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