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Pay a little now…..avoid years of trial and error….

I appreciate new clients. What I don’t appreciate is that most businesses that are seeking coaching support wait until they have an obstacle before asking for help. It would be much easier if a business owner would realize the value of a business consultant at the beginning of the business journey.

My ideal call is one from a potential client that says: “I’d rather pay a little bit of money for the advice of a consultant at the start of my business journey, than go through years of trial and error.” Unfortunately, I don’t receive many such calls.

Working with a clean slate is much easier than working with a business that has to first be “unraveled” and then rebuilt. No matter how little you can afford to spend on good business advice, there is someone or something that can help; for example, is an awesome business support site for only $5/month, $60/year with marketing, management and finance information. There is also an opportunity to ask questions and get answers from consultants at no additional charge.

In the Phoenix metro area there is support available from the mentor group at the Arizona Small Business Association (ASBA). They offer a four-month process with weekly meeting with a consultant for a nominal fee.

In my practice, I also work with small businesses that allow us to participate in a small percentage of their business instead of a fee. We have a vested interest in the firm because of our small ownership position, and this allows us to establish a long term relationship with an owner.

My point this evening is to encourage you, as a business owner, to realize that it’s good to be in business for yourself, but not by yourself. It may be hard to admit that you don’t have all the answers necessary to successfully grow your business into the dream you had when you started.

There is a difference between a survival type of business; (one in which you have created a job for yourself) and one which is a profitable business with money in the bank and growth potential. A business becomes a business when it has both profitability and sustainability. A business should be run and records maintained as if the business is for sale. This helps create a working plan, good record keeping, and required profitability.

Money flows to the people who are providing the most amount of value. How does your business stack up?

Nick J. Petra CFP           subscribe today to


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