How is your business navigating through this turbulent economy?
The right guide can get you over the rocky waters and on to success!
by Chia-Li Chien | Oct. 10, 2011
This summer, I was lucky enough to go on my first whitewater rafting trip! As you can see from this photo, there were six of us in each raft with the guide seated right behind me. That’s Lee guiding the raft through the rapids for us.
We were on Nanthahala River, the coldest river in the Appalachian gorge in North Carolina. The entire run was two hours on the water, through many heart-pounding rapids, excitement, getting splashed and soaking wet, along with tons of laughther. I even sustained a hard hit from a hanging tree branch along the river bank. Lee tried to warn me with a “watchout!” just two seconds before I saw it, but it was too late. Luckily I did not get knocked out of the raft and into that cold water. I’m still wearing that bump and scar on my forehead today. This photo was taken as we were just about to navigate the 9-foot drop of Nanthahala Falls. Lee repeatedly told us, as we approached the falls, “paddle with your life, non-stop!”
There were many boats on the river that day, many without a raft guide like Lee, and many were stuck on the riverbank or hopelessly stranded on the rocks sticking out of the river. I asked Lee his “fall out rate,” and he confidently told me “zero!”
“People want to save money and go down this river on their own. Unfortunately, only the experienced guides know the river well enough to maneuver and navigate the boats toward finish line successfully,” said Lee.
In my experience, I have found, without exception, entrepreneurs are risk takers. And statistics back that up. Did you know only one out of six businesses started will survive to year five? There are 26 million small businesses nationwide and less than 5% of those businesses have more than $1 million in revenue. That represents a lot of risk!
90% OF BUSINESS OWNERS ARE UNAWARE OF UNTAPPED GROWTH POTENTIAL
Would you agree that the majority of business owners are in business because they want to make more money and gain financial independence? Unfortunately, however, it has been our experience that not every business owner is equipped to recognize how to boost the value of his or her company. Statistically, 90% of business owners are unaware of the untapped growth potential waiting for them in their own companies.
Here are the three mistakes you must avoid if you’re serious about taking your company to the next level:
1. Remaining unaware of untapped growth or value creation potential.
2. Settling for less-than-ideal results in the current economic environment.
3. Limiting risk-taking in your leadership role.
What can you to do avoid these three additional mistakes?
1. Get more training or information.
Sign up for seminars, workshops and conventions to stay up to date in your industry and for fresh perspectives on running your business. Right now we have a special introductory rate for 1GAP. Click here for more information.
2. Create more challenge.
Set goals, aligning them with your purpose/passion. Ask yourself if your business is aligned with your mission or vision statement, and if not, what can you do to make a change in that direction.
3. Harness more drive.
Here are three additional mistakes you must avoid if you’re serious about taking your company to the next level.
1. Not setting expectations of turnaround time and deadlines with an outsourced partner.
2. Having no real-time access to your business data.
3. Having no ownership of your business data.
Just like my whitewater rafting experience I’ve related to you, it’s evident that in today’s turbulent business waters, without the RIGHT guide, you may remain unable to reach the untapped value creation potential you must invest in. In other words, you may find yourself up the creek without a paddle...
As I’ve described in my whitewater rafting experience above, you must have the RIGHT guide to get you through the turbulent business waters of today. Maybe you’ve been stuck on the rocks in the middle of river for a while. Or perhaps you’ve drifted to the riverbank, simply waiting until deeper waters come to take you back out into the flow. Perhaps you believe the economy has caused your business to overturn in its unstable wake.
Even through today’s economy, my clients are navigating their businesses to success, perhaps because they have the RIGHT GUIDE.
Are you going down the river without a guide? Without one, you could drift to the bank or get stuck on the rocks. Let me help guide you through today’s turbulent business waters. Sign-up for my 90-minute webinar today and find out how Profits Matter® can get you back into the flow and lead you to a successful run.
Date: Various dates, please click on the big orange button to see the dates.
Time: 11:00 am to 12:30 pm EST
In this 90-min. webinar Chia-Li will cover three things:
1. What makes a business valuable? (form investors/buyers' perspective)
2. What mistakes to avoid while building your business?
3. Strategies you can put to use today to begin building value for your business
Upon completion of the registration, you will receive a separate email to confirm along with webinar URL and conference call information.
Wishing you the best in business,
Chia-Li Chien, CFP®, CRPC, PMP; Chia-Li "like JOLLY!" Passionate leader of small business strategic value creation and implementation Mastery. She is CEO and chief strategist of Value Growth Institute –Creating business value that transforms your world. She is the Award-Winning author of "Show Me the Money." You can grab a free video of PROFITS MATTER® to grow your business in value at http://valuegrowthinstitute.com/vgi/webinar