July Business Newsletter

Collaboration - Business Growth Specialists

Collaboration Newsletter July 2009	"Some of us will do our job well, and some will not, but we will be judged by only one thing. The Result."

In This Issue:

:: 3 Point Book Review

:: Client Outcomes

:: Educational Business Lunch

Dear Stephanie,

Readingonworld

Business Realities, Meet Personal Vision

Have you ever found yourself faced with the burden of having more business than you can handle? Maybe you have experienced the feeling that you cannot control the growth of your business and that you have a shortage of management expertise. You used to think that you controlled the direction of business, but lately your clarity has become muddled; you're working more hours in a week than you prefer, and you're lacking time for other life responsibilities.

Many businesses find themselves in this same spot. While it doesn't mean they are drifting in a stream of dollars or that they have new clients knocking down their doors, it may mean that their business has simply outgrown its original business plan and the existing business structure no longer supports the current level of operations. So where do we go from here?

First off, take a step back from all the busy day-to-day demands. Refocus and redefine your personal vision and long-term goals. What is the lifestyle you hope to maintain as it relates to work hours, flexibility, travel, family involvement, morals, and beliefs? How are daily operations impacting the basic personal needs that are most important to living your vision?

Second, review your individual reasons for starting a business. What is it you value in your professional life? Determine whether power, status, or a desire for control and recognition drive you. Perhaps your objective is job security; controlling your career and your income.

Lastly, decide if your intent is to operate a business based on growth or lifestyle.

A growth business is one in which fast growth is your goal. This may sound ideal, but often times the demands of operating a fast-growing company can make it challenging to balance personal and professional lives. A growth business managed by someone capable of controlling the demands of growth can result in great financial rewards at the time of exit (e.g. turning the business over to someone else or selling it).

On the other hand, a lifestyle business is designed to sustain a certain level of income or to provide for a certain lifestyle. It can be limited in size and limited in growth potential; however, even within these limits it can be very emotionally rewarding because it is built to achieve the personal goals of the entrepreneur.

Why does identifying your business type matter? Business owners can get so lost in the day-to-day demands that lead to greater responsibility that soon they find themselves operating a growth company when what they really wanted was a lifestyle business. The business can take on a life of its own if not properly directed by its leader. This is a fine line to walk and requires the utmost care when you have important business decisions to make. During these times, your goal is to thoughtfully make decisions based on your ultimate purpose for being in business, as defined by your personal vision.

If any of these questions prove difficult and you are not sure how to answer them, don't be afraid to ask for an outside perspective. Talk with someone who can help you to separate the facts from the feelings or recognize emotion among all the fine details. Involving an outside party is a great way to ensure your personal vision becomes your business reality.

~Jennifer Porcher, Vice President of Educational Services

Upcoming Classes

New Venture
August 7th, 8:00am-1:00pm

New Venture is an entrepreneurial program that assists the start-up entrepreneur in developing their business concept and evaluating it through each step of the business planning process. Only 18% of new businesses make it past their first year; 73% of the businesses that have gone through our course are still in business today.

*This program is an intensive 5 session interactive workshop

More Info...

Sales Achievement Program

October 7th, 9:00am-12:00pm

Collaboration's Sales Achievement Program allows business owners & sales professionals to create solid and consistent sales performance. This program will provide knowledge, tools, skill training and accountability towards achieving your sales goals. The program focuses on sales goal attainment and skill development.

*This program meets once a month for 6 months

More Info...

Management Training Program

October 13th, 8:30am-11:30am

Management Training teaches new managers how to better manager their team by strengthening their leadership and communication skills. We believe that management is not just a position but rather a unique set of skills and behaviors. Our program teaches the right combination of character and skill needed for a manager to be effective.

*This program meets once a month for 12 months

More Info...

3 Point Book Review
The Revisited Myth

Author: Michael E. Gerber

This all time favorite for many business owners is also a favorite recommendation of ours. The E-Myth Revisited is an easy read and provides exceptional clarity as to why so many business owners - experts in their fields - are not finding success at running their business. The book points out how common assumptions and expectations hold us back from facing the reality that it takes a separate, unique skill to successfully run a business. You'll find yourself laughing, almost embarrassed that someone knew you well enough to write a book about you personally. The peace that comes with the humor is in knowing that you are not alone and someone has provided the answers.

Below are the 3 main points of the book and one we threw in for good measure:

· Don't just create a job for yourself. Create a business that is systematized well enough that any average person can operate it and you can focus on your "primary aim" in life.

· Work ON the business not IN the business. Systematize everything so that you can leverage your time to focus on strategizing, planning and growing.

· Our favorite: clearly state your expectations. Define the outcomes you want of team, what you want for your business, and how you want your customers to be treated.

· A fourth point, that just has to be said, is MEASURE your work. Everything that can be measured should be, so you know exactly how and what to improve.

Client Outcomes & Success Stories