Views from The Growth Coach®
September 2009
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Greetings!

With the start of school we're hearing warnings about a possible flu pandemic - again. The warnings about symptoms and preventing transmission got me thinking about the symptoms of a sick business - and the cures.

Curing The Business Flu
 
Remedies That Have Been Proven To Work
Growth Coach Website

I'm not a doctor, but I have stayed at a Holiday Inn Express. OK, I won't try to practice medicine but I can recognize the symptoms of a sick business. Here are some of the common ailments:

Codependent Complaining
Do you find yourself surrounded by people who consistently see the glass as half empty? Do you feel compelled to join the chorus? The cure is a simple one, walk away.

Infectious Employees
Similar in nature, it's employees who don't agree with the mission of the business and try to get others to join their cause. This is like a cancer and sometimes the only cure is to remove it.

Shiny Object Syndrome
Sometimes, what appears to be an opportunity is merely the light reflecting off a piece of trash on the road. Your time is better spent coming up with a viable plan and following that plan. Legitimate opportunities can easily be added if they are consistent with the plan.

Paralysis by Analysis
A related symptom, this is a failure to act because you have too many options or lack 100 percent of the required information. Use the 80-20 rule to pick the best 20 percent of the options and make a decision when you have 80 percent of the available information.

Marketing Myopia
Just like antibiotics, marketing takes time to do its job. While you might see progress along the way, you need to resist the urge to pull the plug before you see the full effect. And, just like drugs, don't use one unless it's been proven to be effective.

Expensephobia
Yes, one way to limit exposure is to stop spending, but it's like asking a patient to stop breathing to cure a cough. In business the only way to get a return on investment is to actually invest. The question is not whether to spend but where to invest.

If you have some symptoms that concern you, give me a call. When treated promptly, most businesses make a full recovery.


Focus on Sales
 


I'm sure you think about, and analyze, your competition. Your direct competition is chasing the same prospects you are for the same reason. Your indirect competition is siphoning off your prospects' available funding for a totally different investment. But, you also have what Curt Clinkinbeard refers to as your "do nothing" competition. They are the ones sitting on the sidelines with no compelling reason to spend money.

If you can figure out why they're sitting on the sidelines and reach them before your competition does it might be a "new" market.


Networking Tips
 


Are you suffering from Networking Fatigue? You've lost your enthusiasm for the whole process because it isn't yielding the results you expected? Well, this can be remedied.

If you are networking for business, it's not about small talk it's about developing business relationships. If the people attending the event don't feel the same way, you're at the wrong event. Find one where they do. Then, make it a point to find three people who would like to sit down with you over coffee to see if there's a way to help each other grow your businesses. Do this at two consecutive events and after meeting with those six people you will be cured.





If you have ideas for future issues or questions on this one, let me know. Who do you know who would enjoy the articles? Use the "Forward to a friend" link below.

Stay healthy my friends,


Dave Ferguson
The Growth Coach

Phone: (847) 968-2468
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