Author: Richard Pressman

Building Robust Foundations: The Essentiality of a Business Advisor and Coach

Building Robust Foundations: The Essentiality of a Business Advisor and Coach

Are you planning to start a business? If yes, you need to ask yourself a few questions;

Do I have the expertise for this business?

Do I have my path clearly chalked out?

How soon should I expect my business to start generating profit?

Is there any way to boost the growth of my business, and do I have the resources to accommodate business growth?

Now that you’ve asked yourself these questions, do you have answers?

One of the biggest mistakes that business owners make when starting a business is that they don’t think their ideas through and make impulsive decisions. There’s a reason why 9 out of 10 new business fail.

New business success rate is only 10 to 20%. If you want to be one of these few businesses that succeed, you should onboard a business advisor and coach to your team. The role of business advisor and coach is diverse, and they can help you find answers to questions you may not be able to answer on your own.

This blog post explains how working with a business advisor and coach can help you build robust business foundations.

Role of a Business Advisor and Coach

A business advisor and coach is a professionally-sound individual who coaches and advises you at every step. Their expert advice keeps you from making the wrong decisions that could mean the failure of your business.

We’ve explained the role of a business advisor and coach below so that you know how exactly they can make a difference.

Conduct a Detailed Analysis of Your Business

A business advisor and coach conduct a detailed analysis of your business and coaches you on how to take things forward based on the results. From analyzing the market for your business to identifying how fierce the competition is to what would give you an edge, the business advisor and coach will ensure that your business is founded on solid facts and metrics and that nothing catches you off guard that would result in your business to topple.

Identify Your Weak Areas

A business advisor and coach will identify your weak areas. Most new business owners overlook their weaknesses, which eventually marks their exit from the market. Being aware of your weaknesses gives you a head start because you know where you need to improve. Your business advisor and coach will identify these weaknesses and then coach you on how you can overcome them.

Strategize Your Growth Plans

If you don’t have a solid strategy for business growth and are just going with the flow, you won’t stay in business for too long. The key to a robust business foundation is a solid and smart strategy for growth. A business advisor and coach will help you strategize your growth and assist you every step along the way to ensure you stick to the plan and rise above all the challenges that come your way.

Evaluate Your Progress

The role of a business advisor and coach doesn’t end after your business starts generating revenue. They’ll evaluate your progress to see what factors may be hampering the growth and how the business can be further improved. They’ll help you identify your areas of improvement and ensure you address the loopholes before it’s too late.

Final Word

If you build a robust foundation for your business, your business will withstand any challenges that may come. However, you won’t sustain for too long if the foundation is weak.

Get in touch with Pressman Advisory for the most experienced business advisors and coaches and ensure your business gets its roots in deep.

Journey to Success: Unveiling the Magic of One-on-One Coaching Sessions

Journey to Success: Unveiling the Magic of One-on-One Coaching Sessions

Everyone has attended a group coaching or training session at least once in their lives. But have you ever had a chance to attend a one-on-one coaching session? One-on-one coaching sessions, as the name suggests, involve one-on-one sessions between a coach and a coachee. These sessions are more private and personalized, where you interact with a professional coach in a closed setting where it’s just the two of you.

Unlike group coaching sessions, one-on-one coaching sessions are more detailed and targeted and are far more fruitful. These sessions may be just what you need to get on the track to success. One-on-one sessions are highly effective, and definitely something you should consider for yourself and for your employees.

This blog post unveils the magic of one-on-one coaching sessions and helps you understand how they make the journey to success less challenging for you.

One-on-One Coaching – One-on-One Sharing of Knowledge

One-on-One coaching is a sharing of knowledge between two people, where one’s coaching and the other is being coached. This type of coaching is an excellent approach to help an individual identify their weaknesses and strengths and learn to tackle challenging situations professionally.

The primary objective of such coaching sessions is to ensure that the coach’s full attention is on one person so that the coach can help the individual get to know themselves better and come out of the coaching as a stronger, more learned, and more confident person.

One-on-one coaching sessions are suitable for less experienced employees or for employees who’re being moved to more challenging roles to prepare them for the new role and enable them to thrive at their job.

Benefits of One-on-One Coaching Sessions

One-on-one coaching is a highly effective approach to coaching professionals to help them unlock their true potential and be well on their way to success.

Below are some benefits of one-on-one coaching sessions that make them such a valuable form of coaching:

Enhances Personal Development Journey

One of the biggest reasons people can’t perform as well at work as they’re capable of is that they don’t know their full potential. They see themselves as a lot less than what they really are. One-on-one coaching sessions are an excellent way to help such individuals really get to know themselves.

One-on-one coaching sessions enhance the personal development journey for people by helping them identify their strengths and teaching them healthy ways to tackle their weaknesses.

Increased Level of Engagement

Unlike group coaching, one-on-one coaching encourages the individual to engage with the coach more openly and comfortably, allowing the coach to understand the individual better and, hence, help them become the best version of themselves, professionally and personally.

Makes Way for Goal Achievement

The coach discusses the goals that the individual has to achieve. But that’s not all that the coach does. The coach helps the individual plan and strategize the moves that will help them achieve their goals and fulfill their KPIs.

Closing Word

One-on-one coaching sessions are more like one-on-one professional conversations where the coach encourages the coachee to be vocal about their challenges and guides them on tackling them better and becoming successful. The coach makes the individual being coached look at themselves in a new perspective and sees themselves for what they’re capable of instead of downplaying their potential.

If you think you could take help from one-on-one coaching sessions or feel your employees could benefit from them, contact us at Pressman Advisory. Our business expert will help you achieve your business goals and become more successful than you thought possible!


Stepping Up the Game: How Business Coaching Elevates Your Marketing

Stepping Up the Game: How Business Coaching Elevates Your Marketing

What is that one thing that connects you with your relevant audience or clients? Marketing. How well you market your business will influence how many customers you attract, which will eventually directly impact your business’s profitability.

Marketing isn’t as simple as putting your brand out there for the world to see. There will be hundreds of businesses marketing the same products and services. You need to give your relevant audience a reason to choose you over your competitors. This makes it extremely important for you to market your business right. Poor marketing would result in you missing out on numerous profitable opportunities.

If your marketing campaigns aren’t generating the traction you hoped for, you should consider investing in business coaching. The money you spend on business coaching is actually your investment in bringing up your marketing game. And when you crack the code to effective marketing, revenue will follow.

This blog post lists the many ways a business coach can help you elevate your marketing.

Helps You Identify Your Marketing Needs

A business coach is an expert in the field and knows just the things that will and won’t make an impression on the audience. They can help you identify your marketing needs, which is the first step towards designing an effective marketing campaign. For example, if you aren’t sure if you wish to generate sales or build an email list through your campaign, how can you design a marketing campaign that helps you achieve your marketing goal? A business coach will help you understand your marketing goals, identify your marketing needs, and assist you in making effective marketing campaigns.

Offers a Kickstart

Most businesses don’t know where to start. Business coaching can provide the kickstart you need. When you opt for business coaching, you open yourself to new learning experiences. You’ll learn about your strengths and weakness and also learn how to use your strengths. Business coaching is all about looking at your business in a new light. Once you know your core strengths and how to use them best, you’ll be able to design and execute strong marketing campaigns.

Helps You Identify the Right Metrics You Need to Keep a Check On

One of the most prominent factors that often slow down business growth is the lack of valuable data. Businesses spend a lot of time and resources gathering data to help them devise marketing strategies and growth plans. Time lost in business is money lost. However, business coaching can help you identify just the right metrics you need to monitor so that you don’t waste your time or resources in collecting data that you don’t need. Once you’ve got the right data, you can use it to design effective marketing campaigns.

Closing Word

Business coaching is like having a business expert hold your hand down the path toward success. It helps you in areas you never thought you needed coaching in.

If you’re looking for a business coach who can help you understand what you need to elevate your marketing game, get in touch with us at Pressman Advisory.

Overcoming Challenges: Business Coaching as a Catalyst for Financial Growth

Overcoming Challenges: Business Coaching as a Catalyst for Financial Growth

One of the biggest challenges for a business is to manage its finances and ensure minimal losses and maximum profitability. This is especially the case with small businesses, where the business owner is so occupied with taking care of everything on their own that they often overlook the importance of financial planning; hence, they miss out on numerous opportunities where they could have taken possible financial leaps.

This is where business coaching steps in. Business coaching can help businesses overcome challenges and boost financial growth. It’s not an exaggeration to say that business coaching can serve as a catalyst for financial growth.

This blog post discusses how business coaching can help businesses grow financially.

Understanding Business Coaching

Before we move on to how business coaching can boost financial growth, let’s first understand what business coaching is. It’s one-on-one coaching where an experienced business coach sits an individual, usually the business owner, down to discuss and identify the areas in their business that need improvement and outline actionable steps towards improvement. Business coaching paves the way for the business to reach its goals and become successful.

How Business Coaching Boosts Financial Growth?

Business coaching gives business owners and relevant stakeholders a fresh perspective and deeper insight into their business that helps them take their business to new heights.

Let’s see how business coaching serves as a catalyst for the financial growth of a business.

Helps Business Owners in Financial Planning

Sound financial planning is crucial for financial growth. Most business owners have a clear vision to become billion-dollar companies, but they’ve got little to no idea how they’ll make that happen. This is where business coaching can help them. Business coaching helps business owners devise full-proof financial plans with the help of experienced business coaches. The business coach assists the business owner in considering different factors such as their profit margins, cash flows, and current revenue and plans their financial moves accordingly for long-term financial growth.

Helps Businesses Retain Their Employees

Employees leaving an organization means a lot of loss for a business, not only in terms of lost productivity and work hours but also in terms of finances. A business has to invest a lot of resources to replace an employee. A business coach will help business owners manage their employees better to ensure better employee retention. The better the employee retention, the fewer the losses to a business, and the chances of financial growth are higher.

Helps Businesses Get Insights About Their Business

Business coaching helps businesses get insights about how well they’re performing, how their competitors are performing, and how they can use their expertise to stand out. Business coaching gives businesses an edge with valuable business insights that a business owner may not know how to put to best use. When business owners use their knowledge correctly, their business performance and profitability improve.

Boost Your Financial Growth With Pressman Advisory

If you’re looking for business coaching but don’t know who to trust, Pressman Advisory is the place to be. Our business expert will help you look at your business in a new light and take it to new heights of success.

Kick Start Your Marketing

Today I’d like to teach you about the three most important start up marketing tools you need to get and keep new customers.

  1. In person: It’s essential you meet with customers/clients in person whenever possible. This shows you respect them and take the time to work with your clients to give personal attention to each of them.
  2. Follow up letter: Always take a moment to send a follow up letter about what you talked about, new agreements or partnerships made and to thank them for taking the time to meet with you. Likewise, you should always send thank you letters or small gifts to partners you find success with.
  3. Phone call: Use a telephone call to follow up with them to talk again about the matters you talked about in your meeting and offer any assistance you can to help their business run smoothly and more successfully.

None of these will work if you don’t have a quality product/service to back you up!

Here are the key steps for putting together your start-up marketing tools:

  1. Research potential customers, buyers, competitors and their preferred methods of distribution.
  2. Talk to potential customers. Take a hard look at your product from a customer’s perspective and see what it needs to be successful.
  3. Follow up with your 3-step process from above.
  4. Develop systems for contact follow through, quality control standards and customer service.
  5. Develop post-sale follow up system to keep lines of communication open is customers and build on your current relationship which increases future purchases.

“Marketing and innovation produce results; all the rest are costs” Peter Drucker, management consultant

Here’s another one I love from an icon:

“If there is any one secret of success, it lies in the ability to get the other person’s point of view and see things from that person’s angle as well as from your own.” Henry Ford, Founder of Ford Motor Company

This lesson has offered you the tools to put together a start-up marketing plan that can be used over and over again to help your customer base and business grow in a manageable way.

Stop Wasting Your Resources!

Today you’re going to learn how to find a target market of potential customers so you aren’t wasting precious resources on blitz marketing. So, the two questions you have to ask yourself are:
  • What do people really want to buy from me?
  • What related products are they already buying?
Once you figure this out you will know who is more predisposed to purchase your products/services. Then, you find other businesses with the same customer base who you can customer share with. Come up with an incentive and great arrangement to encourage both of your customer bases to shop at both of your stores. The basic concept is this: You want to find existing businesses who have the customer profile that you are looking for to market your products/services to. Then strike up a relationship with those business owners to work out an incentive for customers to purchase from both businesses. As a result, you have an audience to market to and they generate an added value from their current base. So, how do you figure this out? There is a great formula from Jay Abraham you can follow with great success. LV = (P x F) x N – MC Here’s what it all means:
  • LV is the life time value of a customer
  • P is the average profit margin from each sale
  • F is the number of times a customer buys each year
  • N is the number of years customers stay with you
  • MC is the marketing cost per customer (total costs/number of customers)
Once you know how much you need to spend to attract a new customer, you will know how much of an incentive you can offer to a business to help attract new customers. So, here’s your step-by-step process:
  1. Find companies who already have the customer base you are looking for.
  2. Negotiate an incentive for them to share that customer base with you.
  3. Focus your marketing resources to this group of predisposed customers.
If you need help working through this process, please contact us and we’ll set you up with the most comprehensive system of marketing tools and resources.