Educational Marketing & Business Coaching in Los Angeles
Four Reasons why Los Angeles Businesses are Failing….And What You Can Do About it Now!
The Four reasons why Los Angeles Businesses are failing….and how business coaching in Los Angeles can make a huge difference right now. More than ever, businesses need to be cutting edge, creative and out of the box thinkers. While it is true that about 97% of businesses fail and out of the three percent that are left 95% of those never reach a million, there is still significant opportunity out there for the entrepreneur and owner who understands the landscape and executes correctly.
As a top business coach in Los Angeles, Jon Sarver is concerned about why Los Angeles Businesses are Failing as well as the continuing sluggish return of the U.S. economy to greatness, so along with Sarver Consulting Group, Jon worked with an independent firm to develop Four Reasons why Los Angeles Businesses are Failing and What You Can do About it Now.
We are pleased to share it with you in this short summary. You can watch the whole report by clicking this link now…..
Reason #1 – The global and U.S. economy is breaking down and calling for higher accountability
The mess in Greece continues indefinitely and the rest of Europe hangs in the balance and well, the U.S. economy gets more challenged by the minute. In fact the U.S. debt to rise to $19.6 trillion by 2015 and the way things are going lately does anyone really think it will be that low? (Reuters, WASHINGTON, June 8, 2010 6:19pm EDT)
Reason #2 – Executives are losing focus faster than ever and losing market share as a result
In a white paper written by Matthew Pease for DDI World, he said: At the heart of the issue (for failing businesses) is the absence of sufficient opportunity to focus. These issues may be related to tasks, objectives, people, business, or self.
Reason #3 – Executive mismanagement is killing companies
In September of 2008, Merrill Lynch admitted that it couldn’t pay its bills anymore. But, just before it ended its final quarter of business, Q4 of 2008, Merrill Lynch gave out nearly $4 billion in executive compensation bonuses. We see this kind of executive mismanagement all the time.
Reason #4 – Poor sales people training & choices can kill the bottom line of any company
5 Indicators Even the Best Sales Teams Fail
- Poor use of sales people’s time.
- Poor use of sales impact sales meetings
- Poor company strategy
- Capping or killing bonuses.
- Playing Favorites (March 22, 2011 by Bob Hill – Business brief.com)
So, we found out the 4 reasons why Los Angeles businesses are failing; now we ask the question, what can the busy executive do to ensure a strong business for years to come?
1. Set up a system of checks and balances for increased accountability
Henry Evans for Irish Director magazine, writes “Our theory is that, the higher you go on the organizational chart, the more responsibility you have and the less accountability you may have,” “That’s because there are fewer and fewer people who are willing to hold you truly to account. What that means is if you want to be more effective as a leader you have to be more willing to self-generate accountability. And one of the best practices for self-generating accountability at that level is to proactively communicate your commitment to others, in an unsolicited way (Irish Director Magazine 2009).
2. Executives have to know how to read the numbers and know the metrics of their company
In a recent survey In Las Vegas (Business Mastery 2011) 90% of respondents concluded they did not know how to read their financial numbers. Keith Cunningham who is the Rich Dad for Robert Kiyosaki has said, “if you don’t know your numbers you don’t know your business. “Chet Holmes often says the most practical way to grow your business is to know your business. Know it inside and out.
3. Executives must have a purpose or vision that drives them in their business
How do I do that?
- a. The leader must understand the strategic importance of sharing their vision with their team
- b. The executive must understand they need to communicate the vision in different ways
- c. The leader is must trust their subordinates and share it
- d. The leader must take the time to share it
4. Executives must hire the right sales and marketing people
Chet Holmes says, “Most people do not market very well. Not only do you need to market well you need the strategy to do so! That’s where a business coach comes in. An outstanding business coach can help you get to the next level.” To get it done you clearly need a top business coach in Los Angeles. Look no furhter for the top business coaching firm in Los Angeles and beyond.
For more information on this study, click on the video link above and dive in.