Bring Your Zombie Business to Life

Has Your Business Entered Zombie Land?

There are a number of movies and television shows today that deal with the issues of zombies, or the undead. While this is, of course, fantasy,Businessman manipulation there are unfortunately a large number of companies that operate daily in a zombie-like state.

Understanding the Situation: How did you become a Zombie Business?

These businesses are like the undead in that they continue to make sales and pay their bills, but they aren’t growing and barely get by each payday. Other signs of a walking dead operation include:

  • A lack of any effective marketing
  • Lack of growth goals
  • Few, if any, new customers
  • An outdated or broken website
  • Ignoring advice
  • A lack of adequate financials and accounting systems
  • Low employee morale and high turnover

The reality for many of these firms is that they will eventually run out of even the few customers they have and shut their doors. One of the saddest scenes you can see it to walk up to a formally vibrant business and find it closed, a sign on the door that it has closed and is no longer in operation.

Finding the Cure

If your business seems to have hit a wall, it’s time to take a hard look at the reasons you can’t seem to grow and are losing ground in your market. On the other hand, it is often difficult for the business owner to take that hard look in the mirror and understand how they got where they are. It is even difficult for many to recognize the seriousness of their situation.

Whether new competition has entered the market, the local demographics have changed, or any of a number of other factors arises to negatively impact your business, it often takes dramatic action to change your direction. Unfortunately, if you are still able to make even a moderate income, it is easy to just continue in that zombie mode, waiting until it is too late to make necessary changes.

When you find yourself in such a situation, it is often much wiser to take one of two steps. You might liquidate the business and Everything Must Go Boxes Overstock Inventory Store Closing Salespend your time at another job where you will make more money without the challenges and risks of continuing to run a dying business. On the other hand, you can wake up to the situation and decide to tackle the issue head on.

Many people find it extremely helpful to bring in fresh eyes and attitudes to help in a turnaround, providing an objective assessment of a business’s condition. For many, hiring a business coach is the first step to a new path of growth and profitability. When you take the time to work with someone who is committed to your survival and success, you receive the benefit of extensive knowledge and insights.Growth - Business Concept

If you feel your current situation is something like the plot of a late-nite show, wake up and turn to a coach who can help you bring new vitality and a bright future to your operations.Thom Torode is a NJ based Professional Executive & Business Coach. He has owned over 5 different businesses and is currently the Managing Director for Sunrise Business Advisors. Thom’s expertise includes working with those business owners who have plateaued getting them unstuck and back in growth mode. Additionally, Thom works with both franchisees and franchisors in helping them develop their leadership. Thom is also Director Consultant with BNI. When not helping business owners and their teams create the business and lives they want and need, he can be found following his kids activities.Coaching!
In addition to being a Certified Business & Executive Coach, Thom is also a Certified Franchise Business & Leadership Coach, as well as Certified Guerrilla Marketing Coach and Trainer. Our philosophy is to provide coaching, mentoring, and advisory services to help business owners achieve the businesses, the teams and the lives that they’ve always dreamed of having. We accomplish this through a tried and proven process of learning and understanding your needs and we’ve always achieved high marks with our valued clients.

How FEAR Impacts Your Results

In his first inaugural address, Franklin Roosevelt famously stated, “The only thing we have to fear is fear itself.”

At the time of this proclamation, the U.S. was nearing the depths of the Great Depression. Millions were discouraged and convinced things would never get better. In reality, these people had some real reasons to be afraid, but the false evidence they were seeing made their fear paralyzing for many.

The idea of self-generated fear is now a concept that professional consultants and coaches now express in the acronym : F.E.A.R. or False Evidence Appearing Real. This is a way of expressing a fear of the unknown and the future, based on current perceptions of events and other “circumstantial evidence.” There are two other common ways to express FEAR:

fear concept choiceAlthough the sense of fear this false information creates is real, it can be effectively managed by realizing it is actually subconscious, manifested worry. This type of FEAR creates apprehension, can progress to forms of paranoia, and even paralyze your ability to be proactive in accomplishing your goals.

Oftentimes, the only way to resolve this debilitating problem is to consult with an experienced and qualified third-party who understands the problem. As with many subjective issues, your FEAR can overwhelm the objective truth, and it can blind you to viable options.

Understanding the Mind of the Franchisee

As with many things in life, the communications between a franchisor and prospective franchisee can result in misunderstandings, confusion and misperceptions. There is a natural source of potential tension between these two parties that can result in difficult situations, regardless of the best intentions and efforts of both parties. It’s helpful to examine for a moment why these difficulties are to be expected.

First, the franchisor is working hard to grow their business by adding quality franchisees. These business people invest a great deal of time and effort in developing a workable business model with training and support systems. When a new franchisee is signed up, there is an expectation to provide training and to help that new team member through the setup up and implementation phase. However, the franchisor also expects to wean a new franchise operation after a certain period of time, and is looking for franchisees to operate as independently owned businesses.

On the other hand, the prospective franchisee works hard to overcome the fears and insecurities associated with starting a new business, especially with a large monetary commitment. When they hear terms like “we will work with you” and “we’re here to help you” it is easy to misread this as providing an ongoing womb-effect that covers all anticipated problems and challenges. In other words, the mental emphasis is often more on maintaining that umbilical cord, rather than separating it.

When an experienced, professional franchise coach enters the picture, there is an instantaneous benefit to both the franchisor and the franchisee. These coaches understand the F.E.A.R. syndrome often affects both sides of the equation in the franchise world. The franchisor is accountable to a growth plan that investors, employees and existing franchisees are depending upon. At the same time, the franchisees are focused on their specific commitments, market and operations. They both may see false indicators of problems or potential problems and be discouraged or worse.

Having that professional business coach is often invaluable in pulling back the curtain on these unsubstantiated fears and concerns. With the insights and skills of the right coach, both franchisees and franchisors can recognize their own capabilities, and work toward overcoming those discouraging concerns.

The problems of running and growing a business are real enough and challenging enough on their own. Adding to them because of F.E.A.R. is a futile exercise that the right franchise coach will help you avoid.FALSE EVIDENCE APPEARING REAL

Thom Torode is a NJ based Professional Executive & Business Coach. He has owned over 5 different businesses and is currently the Managing Director for Sunrise Business Advisors. Thom’s expertise includes working with those business owners who have plateaued getting them unstuck and back in growth mode. Additionally, Thom works with both franchisees and franchisors in helping them develop their leadership. Thom is also Director Consultant with BNI. When not helping business owners and their teams create the business and lives they want and need, he can be found following his kids activities.
In addition to being a Certified Business & Executive Coach, Thom is also a Certified Franchise Business & Leadership Coach, as well as Certified Guerrilla Marketing Coach and Trainer. Our philosophy is to provide coaching, mentoring, and advisory services to help business owners achieve the businesses, the teams and the lives that they’ve always dreamed of having. We accomplish this through a tried and proven process of learning and understanding your needs and we’ve always achieved high marks with our valued clients.

Celebrating Small Business Week

national-small-business-weekWelcome to National Small Business Week May 12-16.

SBW was created in 1963 in an effort to honor and show appreciation to small business owners throughout the United States. The first National Small Business Week began when John F. Kennedy signed a proclamation, which ushered in a tradition that still stands to this day. Every year since Kennedy’s 1963 signature, each U.S. president has signed a proclamation to continue observance of the holiday.

Small-business-week-final-logoSmall Business Week provides the government and citizens an opportunity to thank small business owners for their contributions to the United States economy.

It’s estimated that 27.2 million small businesses operating within the U.S. are responsible for 60-80% of all new jobs created each year. Because small businesses, and owners, are so important to stimulating the economy as well as job growth, this special week and rewards system honors the contributions these businesses make to society.

During Small Business Week top entrepreneurs are awarded with a variety of honors by the U.S. Small Business Administration. Awards are not only given to entrepreneurs, but also companies and institutions which help make running a small business possible. This includes awards such as Lender of the Year, honoring financial institutions which offer small business loans. Other awards honor contractors, business development centers, Female business owner groups and more.

The ability for anyone to start and run a small business allows residents of the U.S. to live the “American Dream” where anything is possible with a good work ethic. To 971374_10151612647979847_1306073853_ncontinue supporting the creation of small businesses, it’s important we continue to provide support and assistance to existing and potential small business owners. These small business owners rely heavily on loans from financial institutions as well as the assistance of various business groups. Small business centered groups help to educate individuals regarding the pitfalls of business ownership, and help ensure they become successful.

As a website and business which supports small business owners, and the growth of their business, we are interested in hearing your perspective. Please share with us what, if any, additional support mechanisms the government and/or financial institutions can do to help the small business owner, Can you think of ways we, as a nation, can assist the common individual with fulfilling their dreams of owning and running a small business?

Some ideas presented for helping small business owners in the past include:

  • Easier access to appropriate educational materials
  • Better education on the risks of starting a small business and how to avoid common pitfalls.
  • Credit leniency with loan requirements.
  • More streamlined loan approval processes.
  • Education centered around applying for, and being approved for, a loan.
  • Shop Local – Buy Local Programs

Small Business WeekaPlease include any additional ideas you have in the poll or comments section below!

We would love to hear from our audience and begin a helpful discussion about this topic. Also feel free to share how you will be celebrating Small Business Week.

 

Stress Management Techniques for the Small Business Owner

Owning a small business comes with lots of perks…your own hours, being your own boss, and building something meaningful to you.

However, the work of managing and running a small business is also an incredibly stressful endeavor.  While stress is understandable, it’s important for your health to reduce tension and anxiety.   Neglecting  stress management and not taking care of yourself can cause health issues, which will prevent you from performing at your optimum level.

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The first step in managing stress is identifying the triggers that cause anxiety to occur.  By eliminating or cutting back on these situations, you will feel more calm and relaxed throughout the day.  For example, does a particular task, such as accounting, bother you?  Hiring an account will leave you with more time to manage other parts of the business, and relieve  the stress associated with managing finances.

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Ensuring that you are healthy, both mentally and physically will also reduce your daily stress. It’s important to learn these stress management techniques:

  • Get a good night’s sleep each night.
  • Focus on the positive – use simple mindset shifts for success.
  • Eat healthy, avoid greasy meals such as fast food.
  • Stay hydrated by maintaining adequate water intake.
  • Meditate and practice breathing exercises throughout the day.
  • Take vitamins and nutritional supplements, such as fish oil.
  • Relieve built up tension through exercise.
  • Keep your work environment well organized and clean.
  • Take a break from the electronic world.  Avoid your computer, tablet, smart-phone and TV and go get some fresh air.

In the end, remember that while stress is a normal part of running a business, it’s important to understand where the stress comes from.  Many entrepreneurs are too hard on themselves, constantly comparing their success to the success of others.  This may stem from fear of failure.  These emotions are healthy and normal, but ultimately cause unnecessary stress and anxiety.  Take it easy on yourself, laugh, and appreciate where you are and where you are going.  You’ve worked hard on starting up a business – it’s time to congratulate yourself.  

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Thom Torode is a Morris County based Executive & Business Coach. He has owned over 5 different businesses and is also a licensed facilitator and co-principal for Elevate Your Leaders in NJ. When not helping business owners and their teams create the business and lives they want and need, he can be found following his kids activities.

Sunrise Business Advisors can be reached at 862-219-6890 or info@SBAnow.com

 

 

Are your choices disciplined?

What are disciplined choices?

Every week we make hundreds or perhaps thousands of choices.  What are your choices based on?  Choices can come from a random flip of a coin, rocks, paper scissors or some other random process.  A choice means that you can do it or not, but it’s up to you.

Disciplined Choices

Gregg Braden Author of The Turning Point

https://www.facebook.com/GreggBraden

Some choices we make are easy because they are based on past experiences of knowing what we like or dislike.  For example, would you like chocolate or vanilla ice cream?  Others can be much more complicated, and could potentially be in conflict with each other.  Should I make follow up sales calls or work on a clients project?  As you can see from this example both need to be done, however which one is the most important and best use of your own time?

Where discipline comes in is to help you choose those actions and behaviors that are most important. If what you wanted to increase sales by 50% year over year, what would you do every day? Follow up on sales calls.  Even after a stream of not yet and no’s you would continue because it supports your most important desire.  Yes you will still need to work on your client’s project, you will focus on the calls first.

The Hierarchy of Choice

There are three distinct types of choices: primary, secondary, and fundamental.

  • Primary choice—a major choice, something we want more than other things that we may want.
  • Secondary choice—the actions we take to support our primary choice, even if we don’t really want to.
  • Fundamental choice—our state of being, where we stand.

“When your internal thought process is aligned with your goals, it’s easier to make the primary choice that supports what’s most important to you.” Dr. Wayne Scott Andersen

Two options with blank road signs

While most people go through the goal setting process at the beginning of the year, anytime works.  Knowing your primary S.M.A.R.T. (Specific – Measurable – Achievable –Realistic – Timely) goals is how to determine what’s primary.  It will also help you determine what’s secondary.  By knowing these you be able to rise above any situation, however difficult, to support your greater good. So in fact, the relationship between primary and secondary choice is the key to discipline. Once you know how to manage this relationship, you’ll be able to accomplish more than you ever thought possible.

If you would like help understanding the power of goals, how to set them or developing a growth strategy for your business or team contact Coach Thom.

Thom Torode is a Morris County based Executive & Business Coach. He has owned over 5 different businesses and is also a licensed facilitator and co-principal for Elevate Your Leaders in NJ. When not helping business owners and their teams create the business and lives they want and need, he can be found following his kids activities.

Thom Torode is also an expert executive coach listed on Pazoo.  For more information and to view some of Thom’s other articles go to: http://www.pazoo.com/expert/ttorode/

      Sunrise Business Advisors can be reached at 862-219-6890 or info@SBAnow.com

ChoicesPlease make a choice and like or comment on my post.