TFE welcomes guest author Jerry Baltus, Wisconsin Regional Developer for The Entrepreneur’s Source…
New research sponsored by The Entrepreneur’s Source cites a short but compelling list of dangers that typically cause business failure and that are prevalent in all businesses – independent of industry or sector. According to Jerry Baltus, Plymouth-area Regional Developer for The Entrepreneur Source and Business Advisers International, not focusing on these dangers can be the difference between being a player in an industry or another statistic of business failure.
“Our research has already identified the challenges or problem areas that all business owners are most likely to face,” Baltus said. “Business owners need proactive partners to move them right to the rapid impact solutions needed to increase performance and revenue."
These findings state that traditional consultation, where consultants spend valuable client time and money identifying problems within a company, is not always an effective approach.
The 2007 research found that businesses are weak in one or more of the following areas:
- Financial Management (Cash flow): Cash flow problems are responsible for over 70 percent of business failure within their first year.
- Human Capital (Selection, Retention and Training): The mismanagement of human capital is the main reason that “good” companies never become great.
- Planning (Business and Marketing): The majority of companies pursue projects that are incompatible or inappropriate for their resources and capabilities.
- Sales and Sales Management: Under-performing sales people bring in at minimum 50 percent less revenue than top performers.
- Communications Leadership: The beginning and end of all failure in business lies with the people who make the decisions every day.
“As business coaches, The Entrepreneur’s Source and Business Advisers International bring more to the table for clients than most consultants due to the ability to identify a client’s issue faster, therefore saving time and money,” Baltus said. “Our unique coaching process identifies the rapid impact solutions specifically needed to address these business dangers.”
Career and business coaching is a new, emerging paradigm combining the expertise of advisors with the efficiency of a coaching team providing solutions. The business-to-business (B2B) coaching and consulting industry is a multi-billion dollar market.
“When business owners lose sight of their goals, it is often because they don’t have the ability or are unwilling to see beyond their blind spots and take immediate action,” Baltus said. “Working with a coach can help a business owner remove the blinders, see their company more objectively, and make fact-based decisions in an effort to increase performance."
For more information on business coaching, The Entrepreneur’s Source or Business Advisers International in Wisconsin, please contact Jerry Baltus at 920-449-5130 or firstname.lastname@example.org.
Contact: Jerry Baltus
The Entrepreneur’s Source
Business Advisers International
About The Entrepreneur’s Source
The Entrepreneur’s Source (TES) is North America’s leading career and business coaching company with more than 250 offices in the United States and Canada. TES offers a full-range of services to individuals seeking alternate career options and to small-to-medium size companies looking to increase performance. The goal of the Entrepreneur’s Source is to partner with both individuals and companies to achieve their desired outcome.
About Business Advisers International
Business Advisers International (BAI) is the premiere source for business coaching and advisory services customized for small to midsize businesses. With its unique “AdviCoach®” advantage, BAI provides relationship-based coaching backed by a team of professionals who can provide Rapid Impact Solutions to its clients. BAI was recently ranked in the Top 100 new franchises by Franchise Market Magazine and in the Franchise 500 by Entrepreneur Magazine. In April 2007, Entrepreneur Magazine listed BAI as one of the top 50 new franchises to recently open.
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