The Challenges of Owning Your Own Business
Starting your own business is always a huge challenge. Most entrepreneurs that have made it past those challenging first three years deserve a huge congratulations.
Usually business owners are passionate about the service or product they provide. It really matters to them and they have a lot of knowledge about their particular industry. Unfortunately, most business owners may be experts in their field but they are not always experts at running a business. They may not know how to properly interpret financials, or principles of good management, or how to set good long term goals and establish a plan on how to reach those goals. On Track Results equips business owners to turn their companies into smooth running money making organizations so they can enjoy life.
We do this by implementing a system that brings together the entire organization and ensures that all the necessary functions are in place to enable steady long term growth. You can learn more about our five part system here.
Here is a brief outline of our system. Our system contains these five components: The Right People in the Right Positions, a Company Vision and Values, Key Processes and Underlying Procedures, consistent Communication and Correction and Key Data to get good Direction.
Business owners tend to survive because they are determined. The determination and stubbornness that got an entrepreneur going is the same thing that stops them from really reaching their potential. Before long, roadblocks begin to show up in the form of employee turnover, or cash flow shortages, or lack of understanding how to market their company or under pricing themselves. Suddenly the profits they need to pay themselves are just not there.
A good consultant should have the experience of running a company and getting through the roadblocks that can catch business owners out. The challenge is finding someone who will really knows how to help. The key is in asking the right questions so you feel comfortable with their experience and know they have the ability to open the doors that you could not. It is also extremely important to read the entire contract so you know exactly what you are getting into.
When I was running a company of 50+ employees doing $15 million in sales I was at a place that I knew I needed outside help. So I hired some consultants to get me over the hump. They really helped out, but they also had a hidden clause in their contract that they could charge me over $1000 a month for a year for follow up questions. I did not need that service and asked them to relieve me of that burden. After much persistence they gave me a break and only charged me for 5 months. Lesson learned, READ THE ENTIRE CONTRACT and do not just go with what they tell you it says!!! In conclusion our company operates totally differently, find out more about how our services work here.
I hope this helps.
Bradley DeRuiter - Founder On Track Results