Being "Open For Business"

I have great admiration for small business owners. I love their entrepreneurial spirit, pioneering attitude, perseverance and strength. I am lucky enough to work with them daily as their business coach.

Through my role as coach I am honored to witness courage in so many ways. The courage to expand and grow, the courage to ask for money, the courage to go after the big account, the courage to hire and fire when needed.

If you have never been an entrepreneur or known one, these activities might not seem like a big deal. In the beginning stages, small business owners are grappling with what they feel they can do or not do. Their businesses are literally limited by their own self perception. For example: an owner who wants to double their revenue might have to learn how to let go and leverage themselves through others. So it makes sense that most entrepreneurs have to personally grow and develop themselves to move their businesses forward. Enter the business coach versus a consultant. A consultant is the expert and they advise.

So “What’s a business coach?” you ask? A business coach engages and facilitates focused dialogue. We challenge, inquire, provoke, cajole, inspire, offer support and collaborate with our clients on their business issues. Occasionally we give advice and consult a client when it is an area of expertise. Most of the time however, it is not about my wisdom. It is about the client’s wisdom. Coaches believe that the client has the answer.

Back to my point, in most cases the entrepreneur’s limiting beliefs are what is stopping the business from expanding. As limiting beliefs are identified the small business owner can see and be aware of new possibilities allowing for more awareness and choice. Finally this brings me to the title of the article. Are you “open for business”?

When we are “closed for business”, we already know how the business is, how are industry is and how our customers are, leaving no possibility or room for something else. Where there is certainty there is no possibility. We become frustrated and stuck.

Being “open for business” is about being aware of what your biases, limitations and limiting beliefs (filters) are and not letting that mindset run your business. When we are “open for business” we find opportunities and solve problems easily. ”Okay, how do I do that” you say?

First get clear about your own filters by talking to a coach, asking your staff, interviewing your spouse or working with a mentor and then write them all down.

The next step is to identify how these filters have you stuck or stopped in your business. How do your limiting beliefs impact your business and its employees?

Then, make sure that you stay “open for business” by being engaged in conversations about your business with someone who knows what your filters are and is willing to say something when they come up. This could be an employee, partner, spouse, friend, mentor or coach.

You will be amazed at the difference this one shift from closed to open can make for your profitability and your sense of well being.

About the Author Alicia Fruin

Alicia is the owner of Profit Consulting Co., a business Education Company. They offer small business coaching, consulting and training. Alicia has designed over 80 customized training programs and led these programs for hundreds of business owners around the country in a variety of industries. In addition, Alicia has coached managers, presidents and sales people on how to build a business truly worth having!

Avoid Being Taken By Surprise When Running A Home Business

Few things are harder to stomach for an entrepreneur than sudden unexpected turns of events. This may pertain to a sudden unexpected bill that comes in the mail or the terse reminder of your friendly local taxing authority that you are behind in filing your quarterly business taxes. Since your home business is not only your bread and butter but also quite literally tied into the livelihood of your personal home, your ability to absorb risk and surprises is much decreased.

Thus you will need to take special care to ensure that your financial health is protected all the way around. Should your business suddenly experience a growth spurt, you need to be able to keep up; if a change looms large all of a sudden, perhaps due to a catastrophic turn in the economy, you need to be able to respond to it. By taking three simple steps, you will ensure that no matter what happens, you will know how to handle the unexpected and will not be taken by surprise when running a home business.

First and foremost, it is vital that you are insured. Not only does your home need to be insured, but your business may require certain liability insurance policies as well. Check on this matter with an experienced insurance agent and then find the coverage that most adequately protects you and your business. Then, should you fall ill, become injured or disabled, or just have to deal with a malfunction of your home of business equipment, your home business will not fall victim to the problems but instead will receive the funds necessary to maintain the status quo until you once again take the reigns firmly in hand.

Secondly, remember that in cases where you will host clients in your home, there is always the possibility of someone sustaining and injury. Thus, you will need to have adequate liability insurance that will protect you in case a customer slips and falls or is otherwise hurt. Liability insurance that protects you against claims arising from the use of any product you might be selling goes hand in hand with this kind of insurance policy and once again your insurance professional will be able to advise you on your needs.

Last but not least is the kind of protection that you yourself may not enjoy, but that will spell the difference between being taken care of and abject poverty for your family: life insurance! Protect your business and your family from going under by having your life insured so that your loved ones will be able to have their needs met should you die unexpectedly. This will also permit your family to take over the business should they desire to do so. By creating an operation manual you will leave them not only the funds needed to run the business but you will also enable them to continue running it and profiting from it just the way you did!