This morning I participated in two meetings made up of what I consider to be the best active business coaches (1st meeting) and the best active business mentors (2nd meeting) in our area.
These two groups have gathered under one umbrella to determine the best way to educate business owners as to the importance of bringing support and guidance into their business growth process.
From my own observations and research, the business failure rate has been as high as 85% in the 1st five years of a business’s life.
It’s not just a business failure; it’s not only the business owner that suffers. Like a rock thrown into a pond, the ripple effect hurts the owners’ family, the landlord that lost a tenant, employees that lost jobs and perhaps vendors that haven’t been paid. The ripple effect continues throughout the community, eventually reaching every one of us in some form. Next time you hear of a business closing, no matter the size, remember that in some way it’s taking something out of your pocket.
This dynamic group of men and women know that the business survival rate, sustainability and profitability are vastly improved among businesses that have invested in a qualified mentor or coach. I often refer to a business tripod, made up of marketing, management and finance. The mentors/coaches are the platform that keeps the three legs in balance so that the business doesn’t fall.
This is not a new issue, but the solution may be a first. Next month the education process will start; it will be a form of educational marketing, stressing the importance of having support. (For my followers, I sometimes share a tag line,” it’s good to be in business for yourself, but not by yourself”).
Small business is the backbone of our economic system and without small business growth our nation cannot climb out of its financial hole.
This group is giving of themselves with special offers to all businesses that want to examine the benefits that mentoring and coaching can offer. It is working within the guidelines set by the largest small business association to provide affordable opportunities for business success.
As the plan is finalized I will share details of how you can take advantage of this offer, who is supporting the effort, and more information on our mentors and coaches.
Friendship consists of a willing ear, an understanding heart and a helping hand. Frank Tyger
That is the motto we follow at Strategic Duck and I am sure it will also be followed by those participating in this undertaking.
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