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Page 1: What Is Business Coaching

Michael Michael StoughtonStoughtonBusiness CoachBusiness Coach

Page 2: What Is Business Coaching

© actionCOACH 2006, all rights reserved

Owner of Fast Track Business Solutions, Inc

I have studied business both in academia, receiving an MBA and in practice within corporate America for over 16 years.

Varied background with experience in retail management, product development, sales force management and marketing management.

Strong background in sales, classical marketing, merchandising, customer service, operations and people management/development.

Past President Minnesota Entrepreneurs (ME!)

Your presenter: Michael Stoughton

Page 3: What Is Business Coaching

© actionCOACH 2006, all rights reserved

My PriorityMy Priority

Page 4: What Is Business Coaching

We are the World’s #1 Business Coaching Team …

We started in Australia in 1993 by Entrepreneur, Author and Multi-millionaire Brad Sugars …

Internationally Franchising since 1997...

More than 388,000 seminar attendees and over 10,000 coaching clients world-wide ...

1100 coaches in 23 different countries ...

Our vision is to create ‘World abundance through business re-education” …

Ranked in the top 100 franchises in the world and the #1 Business Consulting Franchise globally

Who is ActionCOACH?Who is ActionCOACH?

Page 5: What Is Business Coaching

The 3 most common frustrations of business owners…..

Lack of Money - The business doesn’t generate the revenue & profits the business owner desires or believes possible from their business.

Time - The owner works too many hours in the business therefore missing out on time with family & friends and developing interests outside the business. Or has time management issues.

Team Challenges - The team doesn’t perform to the level the business owner desires. Or, the business owner has problems recruiting the right people.

Page 6: What Is Business Coaching

Where do you need assistance in your business?

Some business owners need assistance in all

three areas, others only need help in one or two

areas.

Which areas would like to improve?

Page 7: What Is Business Coaching

© actionCOACH 2006, all rights reserved

Does your business look Does your business look more like this?more like this?

OperationsMarketing

Financial

Most Businesses are strong in one area but neglect the other key areas. You MUST be strong in all areas. 80% of small businesses FAIL because they fail to understand all areas of their business.

Page 8: What Is Business Coaching

© actionCOACH 2006, all rights reserved

Success in Business is being strong in all 3 areas…

* FINANCIAL * OPERATIONS * MARKETING

FinancialMarketing

Operations

SUCCESS

Page 9: What Is Business Coaching

Wealth Creation LadderWealth Creation Ladder

LEVEL 1LEVEL 1

LEVEL 5LEVEL 5

LEVEL 4LEVEL 4

LEVEL 3LEVEL 3

LEVEL 2LEVEL 2

LEVEL 0LEVEL 0 The EmployeeThe Employee

The InvestorThe Investor

The Owner/LeaderThe Owner/Leader

The ManagerThe Manager

The Self The Self EmployedEmployed

The The EntrepreneurEntrepreneur

Page 10: What Is Business Coaching

6 Steps to Massive Results…6 Steps to Massive Results…

MasteryNiche

LeverageTeamSynergy

Entrepreneur MASSIVE RESULTS

Eliminate ChaosCashflow, Financials, Basic systems, Team, T&M, KPIs

No price competitionUSP, Guarantee, Range, ABCD customers

EfficiencyRange extension T&M, and Systems improvement

Structure for GrowthPeople & Education, T&M, Systems, and PM

A Well Oiled MachinePeople & Ed and Systems & Technology

Owner’s Personal Growth, Investment

Page 11: What Is Business Coaching

ActionCOACH ActionCOACH definition of a definition of a Business ...Business ...

A Commercial, Profitable, Enterprise -

that Works that Works ––

with-out ME ...with-out ME ...Remember to work ‘ON’ your business not just ‘IN’ your

business ...

Page 12: What Is Business Coaching

© actionCOACH 2006, all rights reserved

Your Coach will focus on Your Coach will focus on 99 Key Key areas in your business….areas in your business….

4 Key Components of SYSTEMIZATION

Plus…

5 Key Areas to Grow your Business and Increase your PROFITS.

Page 13: What Is Business Coaching

© actionCOACH 2006, all rights reserved

4 Key areas of 4 Key areas of SystemizationSystemization

Systems & Systems & TechnologyTechnology

Delivery & Delivery & DistributionDistribution

Accounting, Accounting, Test & Test &

MeasuringMeasuring

People & People & EducationEducation

Page 14: What Is Business Coaching

© actionCOACH 2006, all rights reserved

The 4 Key areas of systemization.

Systems & TechnologyDocumenting and automating your business so it works without you predictably every time !

Accounting, Test & MeasuringKnow the numbers from both a Marketing &

Cash or Profits point of view. Are you profitable?

Delivery & DistributionGet it out 1st time, on time and to the right

place.

People & EducationRecruit them WELL, Treat them WELL, Train

them and help them perform an amazing job.

Implementation of systems will mean your business will operate in a predictable fashion, even when you’re not there.

Page 15: What Is Business Coaching

© actionCOACH 2006, all rights reserved

Systemizing Your BusinessFree up the time you spend on the day to day operations of your business so as you can focus on the strategic components of your business. Stop being the technician

start being the owner!

Systemise the routine, humanize the exception.

Remember …

Systems run your business

People run your systems

You lead your people

Page 16: What Is Business Coaching

© actionCOACH 2006, all rights reserved

90 %90 % of your time should be of your time should be focused on the strategic focused on the strategic

components of your business.components of your business.

Most business owners are the Most business owners are the technicians in their business doing technicians in their business doing

the day to day tasks…the day to day tasks…

• So who is running the business? So who is running the business?

• Who is Focusing on the Marketing, Who is Focusing on the Marketing, Recruitment, Training and Systemizing of Recruitment, Training and Systemizing of your business?your business?

Page 17: What Is Business Coaching

© actionCOACH 2006, all rights reserved

Are you underestimating the ‘people factor’ in your business…your employees, suppliers and customers!

70%

95%

70%

85%

50%

60%

Of the reasons why customers are lost is directly related to inadequate communication.

Of professionals regard their relationship with their manager/employer as being the key factor in any decision whether to stay or leave their job.

Of all change initiatives in businesses fail due to insufficient focus on people.

Of business and career success comes from the interpersonal skills a person has, whereas only 15% is due to technical competence.

Of time wasted in business is due to lack of trust

Of how employees perceive their workplace climate can be traced to the actions of one person – the leader.

Page 18: What Is Business Coaching

© actionCOACH 2006, all rights reserved

ActionCOACH’s 5 ways of growing a business…Please let me explain…..

Most business owners know how many customers they have,

what their revenue is and how much profit they make.

But did you know these are all results?

This is where it gets exciting!

Page 19: What Is Business Coaching

Number of LeadsNumber of Leadsxx

Conversion RateConversion Rate==

No. of CustomersNo. of Customersxx

No. of TransactionsNo. of Transactionsxx

Ave. $$$ SaleAve. $$$ Sale==

RevenuesRevenuesxx

MarginMargin ==

$Profit$$Profit$

Page 20: What Is Business Coaching

Let’s put in some numbers ...Let’s put in some numbers ...Number of LeadsNumber of Leads

xx

Conversion RateConversion Rate==

CustomersCustomersxx

# of Transactions# of Transactionsxx

Avg. $$$ SaleAvg. $$$ Sale==

RevenueRevenuexx

Profit MarginsProfit Margins ==

$Profit$$Profit$

4,0004,000xx

25%25%==

1,0001,000xx

22xx

$100$100==

$200,000$200,000xx

25%25% ==

$50,000$50,000

Page 21: What Is Business Coaching

With just a 10% increase ...With just a 10% increase ...Number of LeadsNumber of Leads

xx

Conversion RateConversion Rate==

CustomersCustomersxx

# of Transactions# of Transactionsxx

Avg. $$$ SaleAvg. $$$ Sale==

RevenueRevenuexx

Profit MarginsProfit Margins ==

$Profit$$Profit$

4,0004,000xx

25%25%==

1,0001,000xx

22xx

$100$100==

$200,000$200,000xx

25%25% ==

$50,000$50,000

4,4004,400xx

27.5%27.5%==

1,2101,210xx

2.22.2xx

$110$110==

$292,820$292,820xx

27.5%27.5% ==

$80,525.50$80,525.50

Page 22: What Is Business Coaching

That’s a 46% That’s a 46% increase in your increase in your

revenue ...revenue ...

Page 23: What Is Business Coaching

7Key benefits of growing your business with an ActionCOACH Business Coach

Page 24: What Is Business Coaching

You Choose to Work the Hours You Want …• Most Business Owners don’t

run their biz …, It runs them …

• Less stress …

• Business is supposed to free your time not bury it …

• A Commercial Profitable Enterprise that Works, With-out You …

• Work “ON” not “IN” …

Page 25: What Is Business Coaching

You Choose to Hit Your Profit Targets … …• Most Biz Owners work for little or

no real profit after they draw a basic wage …

• Sales, Marketing and Management strategies …

• Mastery of your numbers…

• ActionCOACH’s 5 ways to Grow your Business and 4 ways to systemize your Business…

Page 26: What Is Business Coaching

You Choose to Build a Great Team …• Turn your staff into a team …

• How to Recruit, Train & Keep Great People …

• Build a common vision and goal …

• A team that works so that you don’t have to …

Page 27: What Is Business Coaching

You Choose to Follow a Proven System …

• Over 10,000 business owners before you …

• Coaching you Step by Step, week by week …

• Work ON your business instead of just IN it …

• ActionCOACH ‘s 328 profit and business building strategies …

• Franchised company with over 500 Business Coaches …

• Most businesses don’t work - the owner does …

Page 28: What Is Business Coaching

You Choose to Learn Enough so You Can do it Over & Over Again …

• We don’t do it for you …

• You learn as we go …

• You can apply this knowledge in any business and your life …

• Hundreds of proven systems that work for you …

Page 29: What Is Business Coaching

You Have Your Own Dreams and Goals … …

• Turn your dreams into reality …

• Help you change your life …

• Work less, spend more time with your family …

• Grow your business …

• Achieve the lifestyle you have always dreamed about …

Page 30: What Is Business Coaching

Your Guarantee…• You’re guaranteed we’ll be on time for all

appointments

• You’re guaranteed access to the latest innovations and knowledge

• You’re guaranteed highly trained and skilled coaches

• You’re guaranteed we’ll push you to achieve more than you thought possible

• You’re guaranteed to get great value from any product or workshop

• You’re guaranteed 100% confidentiality at all times

• You’re guaranteed to have FUN!

Page 31: What Is Business Coaching

How we Coach...How we Coach...

Template – Customize - Critique

Page 32: What Is Business Coaching

You’ll also have the opportunity to You’ll also have the opportunity to enroll in one of our two coaching enroll in one of our two coaching

programs...programs...

Page 33: What Is Business Coaching

• For businesses doing MORE than For businesses doing MORE than $250,000 in revenue…$250,000 in revenue…

• Easily affordable - ½ the price of a Easily affordable - ½ the price of a receptionist…receptionist…

• Different levels availableDifferent levels available

Investing in your Investing in your business ...business ...

Page 34: What Is Business Coaching

• For businesses doing LESS than $250,000 in For businesses doing LESS than $250,000 in revenue…revenue…

• Great for Start-up companies…Great for Start-up companies…

• $2,195 for ALL 7 sessions plus a second person $2,195 for ALL 7 sessions plus a second person from the business can attend for FREE…from the business can attend for FREE…

Investing in your business ...Investing in your business ...

Page 35: What Is Business Coaching

The Coaching ProgramThe Coaching ProgramThe Key to Client SuccessThe Key to Client Success

Coach will work with you as you master the skills that will allow you to get the maximum performance out of your business; TIME, TEAM & MONEY.

After the Alignment Consultation, you coach will guide you through these strategies step by step.

Your coach will teach you how to test and measure everything. Together, you will adjust what’s not working and improve what is working.

Your coach will mentor you, teach you, encourage you, and help you deal with challenges that arise in your business, week to week. Your coach will hold you accountable to work on your business and not just in it.

Page 36: What Is Business Coaching

© actionCOACH 2006, all rights reserved

Your choice of 4 Levels of Your choice of 4 Levels of CoachingCoachingStartupStartupCOACHCOACHSetupSetupCOACHCOACHPowerupPowerupCOACHCOACH FreedomFreedomCOACHCOACH

You can select from our range of You can select from our range of Programs, the one that suits you Programs, the one that suits you and your business best. Whether and your business best. Whether you are a sole proprietor with a you are a sole proprietor with a

revenue of under 100K per year or revenue of under 100K per year or business with 100 plus team with business with 100 plus team with

revenue of $1M+, we have a revenue of $1M+, we have a program to suit you.program to suit you.

I will outline these for you and then I will outline these for you and then assist in selecting the program for assist in selecting the program for

you.you.

Page 37: What Is Business Coaching

© actionCOACH 2006, all rights reserved

How the Program How the Program worksworks With the majority of our programs you’ll have With the majority of our programs you’ll have

weeklyweekly sessions with your coach. These will sessions with your coach. These will be a minimum of an hour and will be be a minimum of an hour and will be conducted either face to face at your premises conducted either face to face at your premises or ours, or over the phone. You may choose to or ours, or over the phone. You may choose to have a combination of phone and face to face have a combination of phone and face to face sessions.sessions.

At these sessions you will review the past At these sessions you will review the past weeks strategies as well as planning the next weeks strategies as well as planning the next weeks goals and strategies. Systems, weeks goals and strategies. Systems, Recruitment and 5 ways strategies will be Recruitment and 5 ways strategies will be worked on at these sessions.worked on at these sessions.

You will be provided with all the information to You will be provided with all the information to successfully learn and implement the specific successfully learn and implement the specific strategy. Your coach will provide you with strategy. Your coach will provide you with Tapes, Manuals, Computer Templates, etc. to Tapes, Manuals, Computer Templates, etc. to insure you understand fully.insure you understand fully.

Page 38: What Is Business Coaching

© actionCOACH 2006, all rights reserved

The 1The 1stst Step in the Step in the Coaching Program….Coaching Program….

First we will conduct either our First we will conduct either our initial alignment consultation or initial alignment consultation or

our team alignment day.our team alignment day.

Please let me explain….Please let me explain….

Page 39: What Is Business Coaching

© actionCOACH 2006, all rights reserved

Alignment ConsultationAlignment Consultation Our critical 1Our critical 1stst session, this is where we session, this is where we

align ourselves with your business. align ourselves with your business. Generally this session takes between 2 Generally this session takes between 2 & 3 hours. Some of the areas we cover & 3 hours. Some of the areas we cover include….include….

To Determine what you want out of life, YOUR personal goals , To Determine what you want out of life, YOUR personal goals , short term, mid term & Long termshort term, mid term & Long term

To understand what you want out of your business in the next 12 To understand what you want out of your business in the next 12 months, 3 years, 5 years plus…months, 3 years, 5 years plus…

SWOT Analysis, what are you good at, what do you need to SWOT Analysis, what are you good at, what do you need to improve, what opportunities are available.improve, what opportunities are available.

To come up with ideas on strategies that will guide you to To come up with ideas on strategies that will guide you to achieving your goals.achieving your goals.

Look at current marketing, systems, recruitment process, etc.Look at current marketing, systems, recruitment process, etc.

The Alignment Consultation is recommended for The Alignment Consultation is recommended for businesses with 4 or less team members.businesses with 4 or less team members.

Page 40: What Is Business Coaching

© actionCOACH 2006, all rights reserved

Alignment Training Day Alignment Training Day For Businesses with 5 or more team For Businesses with 5 or more team

members….members….

Purpose of the Day …Purpose of the Day …

1.1. To Align the Coach with the Business Owners To Align the Coach with the Business Owners

2.2. To Align the Business Owners with each other To Align the Business Owners with each other

3.3. To Align the Business Owners with their GoalsTo Align the Business Owners with their Goals

4.4. To Align the Team with the Owners Goals To Align the Team with the Owners Goals

5.5. To Align the Team and the Owner as People into a To Align the Team and the Owner as People into a Total TeamTotal Team

6.6. To Jump Start the Coaching Process and results To Jump Start the Coaching Process and results

7.7. This is a full day that generally commences early This is a full day that generally commences early morning and finishes early evening.morning and finishes early evening.

Page 41: What Is Business Coaching

© actionCOACH 2006, all rights reserved

How do we get started?How do we get started? The first thing is to schedule a day and time for The first thing is to schedule a day and time for

your alignment consultation or alignment day.your alignment consultation or alignment day.

The paperwork needs to be completed.The paperwork needs to be completed.

Arrange payment of your initial investment which Arrange payment of your initial investment which is the alignment fee and a percentage of your 1is the alignment fee and a percentage of your 1stst months coaching. This can be paid by cash, check months coaching. This can be paid by cash, check or credit card.or credit card.

The Coaching Component is calculated pro rata to The Coaching Component is calculated pro rata to bring it in line with our 1bring it in line with our 1stst of the month due date, of the month due date, please let me explain.please let me explain.

Your investment for coaching program is payable Your investment for coaching program is payable monthly in advance and can be paid either with monthly in advance and can be paid either with EFT or credit card. Our due date is the 1EFT or credit card. Our due date is the 1stst of the of the month.month.