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Does your Business Coach Suck? – Entrepreneur of Influence, Douglas Vermeeren

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Does your business coach suck? Entrepreneur of Influence

By Douglas Vermeeren

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It seems that everywhere you look someone is calling themselves a coach or consultant. But with so many choices how do I know who can best help my business? Before you ask a business coach or consultant if they can help you it’s important to understand who you really are.

Let me share what I mean: I don’t help business owners. I help entrepreneurs. Most business owners don’t know the difference and so therefore they are getting the wrong people helping them.  Many entrepreneurs don’t know the difference either and that’s why they are upset when they have an experience with a business. Business coaches can’t help entrepreneurs.

The real challenge is that traditional business is not the same as entrepreneurship. Let’s share some differences: (Neither of these are in any particular order)

Traditional Businesses

  • Typically use traditional methods to generate business
  • Typical set up as a brick & Mortar location
  • Are biased towards real world connections, marketing and relationships versus online
  • Often have employees
  • They often have restrictive business rules
  • Often there is higher regulation
  • Higher bar and cost of entry
  • Slower to change and adapt
  • Focused on long term strategy and wealth development
  • They often provide or create the asset or service they sell themselves
  • They are held back by geographical boundaries
  • Their growth is measured through structure (ie. Number of locations or number of staff)
  • Organization and structure is the fundamental skill
  • They operate according to business hours
  • Most are not concerned about their passion and purpose during business hours
  • They do their best efforts in marketing (typically a shotgun approach and within their community)
  • Generally maintains normal business hours
  • As a business owner they are more of an operator than an entrepreneur
  • Customers found through traditional marketing, direct mail, in-person networking, sharing of business cards
  • Often tries to develop alone
  • Learning is to keep pace with marketplace (Versus an entrepreneur who learns to set the pace)
  • Most businesses are concerned about a local or regional market

 

Even just by looking at some of the things above you can imagine what most business coaches are equipped to teach you. They are fantastic and effective at sharing strategies and systems that thrive under these circumstances.

Let’s take moment to look at the entrepreneur.

Modern Entrepreneurs

  • Fast and skinny (what I mean by this is that they are Fast: flexible and can make things happen much faster than tradition business. Skinny: They don’t have a high overhead of cost and they can shift fast without a lot of retooling or effort.)
  • They typical use technology in more effective ways
  • They have fewer rules that are more flexible
  • Often there is less regulation
  • Lower bar of entry
  • More adaptable to ideas and change
  • Able to take advantage of shorter term payoffs
  • Does not have normal business hours
  • Marketing is directly focused and little is wasted
  • Understands the power of systems and delegation
  • Mobile
  • Entrepreneurs understand the importance of virtual assistances, remote teams, work for hire or creative employment agreements
  • Entrepreneurs understand how to create Joint Ventures, Affiliate partners and strategic alliances
  • Growth through systems rather than structure
  • Sales is an essential skill (versus business where if you take out a big enough ad in the yellow pages or elsewhere people may come to your location -sales skills secondary)
  • Entrepreneurs understand the power of attraction marketing and influence selling
  • Entrepreneurs thrive on their passion and purpose daily
  • Most entrepreneurs don’t have business cards (they use social media)
  • Vision led
  • Very connected to other entrepreneurs (more likely to connect to peers for support, advice or learning)
  • Seeking out and engaging in trends
  • Entrepreneurs understand the power of positioning and influence
  • Entrepreneurs seek a global reach and are minimally concerned about local or regional markets
  • Entrepreneurs understand the power of collaboration
  • Entrepreneurs understand the power of leverage
  • Entrepreneurs understand the importance of community
  • Entrepreneurs define scaling and grow by the number of transactions they create not by the size of their structure

A simple glance over these two lists reveals several important differences between an entrepreneur and a traditional business owner.

As stated earlier most business coaches int he marketplace today are wonderful at supporting people in the traditional business model. They understand, often through their own experience how business unfolds. The big challenge with this however is that they expect your business to unfold in the same way.

Traditional businesses are barely sustainable in the current marketplace, but they do not thrive. Traditional business in todays marketplace are always in a constant uphill battle for marketshare against those who are operating by the entrepreneur rules.

Before you choose someone to mentor, coach or consult your business it is essential you understand where they would like to take you.  A recent survey conducted by Entrepreneur Magazine revealed that a staggering 87.8% of business coaches in the marketplace were teaching and sharing outdated strategies and were able to produce only marginal growth. The same research also determined that many business programs offered through schools and universities performed only slightly better at 71.2%.

The programs that utilizes the support of other entrepreneurs and peer learning had a success rate that generated significant positive outcomes in relation to the investment required. Moral of the story: Make sure you know what support your re actually seeking and then confirm that the one seeking to help you is qualify to do so.

1*deEsgUdkRbHpNp3HDEWwAAOver the last two decades Douglas Vermeeren has conducted extensive first hand research into the lives of the worlds top achievers. He has the success strategies of top business leaders from Nike, Reebok, Fruit of the Loom, FedEx, KFC, United Airlines, Microsoft, Disney and others to share with you. ABC television and FOX Business refer to him as the modern Day Napoleon Hill.  He has authored 3 books in the Guerrilla marketing series and is the CEO of Entrepreneur of Influence . He is a regular featured expert on FOX, CNN, ABC, NBC, CTV, CBC, The Huffington Post, NY Daily News and others.

Entrepreneur Lesson 2 – Not all work is created equal

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Entrepreneur Academy Douglas Vermeeren 2

Entrepreneur Lesson 2 - Not all work is created equal

You’ve heard it a million times - Work Smarter not harder. The problem is most people think they are already working as smartly as they can. You’ve also heard the cry to take MASSIVE ACTION and that those who take action will win today! Partly true. When you put these two concepts together you will see that taking deliberate massive action is actually what you what. I don’t want you tell you to get busy I want you to get productive. There’s a massive difference.

Aside from the from the importance of understanding that not all work is created equal it is essential that you understand there are two kinds of work. 1) Functional work

2)Vital work

I  am indebted to my friend Daniel Priestly who uses these terms.

Functional work can be best described as work that must get done to make your company work. Systems, processes and procedures that gets your product or service into the hands of your customers. Most of the time this work can and should be delegated or outsourced. Many entrepreneurs stay broke because they remain as workers or technicians within their businesses doing this kind of thing. Often its very time consuming and keeps you from the more important work.

Which is the vital work:

Vital work is best described as the life force and the irreplaceable part of your business. You are the leadership behind the company and lead its purpose. You do so with power, purpose and passion. Your work and actions are deliberate and focused on guiding the business to growth, profit and reputation.

While both kinds of this work are essential to business success the best entrepreneurs understand that you need to delegate as much of the functional work as you can effectively do. And your time needs to be spent more in the vital work areas. As you move to higher levels of irreplaceability and creating a better experience for those in your company and those who do business with your company you will see everything expand.

Too many entrepreneurs forget that one of the key definitions of entrepreneur is to be a visionary. You can create a lead a vision if you are lost in too many functional tasks.

Douglas Vermeeren is the founder of the Entrepreneur Academy. After interviewing more than 400 of the worlds top achievers he has become known as the Modern Day Napoleon HIll. Many of these top achievers are now faculty members at the Entrepreneur Academy and can help you grow your business to higher and more profitable levels. http://www.TheEntrepreneurAcademy.co