Certified entrepreneurial coach who loves working with entrepreneurs to build successful businesses, translate strategy into action and develop good leaders into great ones.
Running multiple business at one can dilute your focus and creates blind spots for issues to creep in. The companies I have coached over the past 6 years all find that a focussed offering and singular model is a better option for scalability.
That said, it is not entirely impossible to have multiple businesses. You will need to employ outstanding management/leadership teams that share your vision to hold the space for you. In doing so, you can protect what you have built and structure each company strategy in line with your overall strategy.
I work with companies and entrepreneurs to help design and implement strategies and work to transform leaders and leadership. If you would like to speak more about this, feel free to set up a call.
A critical component to consider when driving quick business growth is - can your business support this growth? Do you have the capacity, resources and cashflow to maintain you through it?
Over the past 6 years, I have seen a number of businesses accelerate and fail or succeed. When we took a look at the commonalities in the successes versus failures, a well thought through strategy was the key to success.
I work with companies and entrepreneurs to help build strategies and sustainable businesses. If you would like to share more about your company and vision, I would be happy to help.
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When it comes to brands like Gucci and other designer clothes, these are sold under license from the houses themselves or buy distributors. You could apply to become an authorized retailer of their brands. Not following these channels could lead to creating a gray market or black market supply, both of which could be seen as illegal supply of goods. I would be very wary of doing business that does not follow the proper channels.
Getting your first clients in any business always seems to be a challenge. This question comes up time and time again with the startups I work with. Depending on the type of consulting business you friend is starting, they may be able to look at their own internal network, including friends and family. If they are working in a niche sector, I would suggest they approach any regulating bodies, chambers and forums that have an audience of the right type of client.
Getting your first few clients can take time and it can be frustrating. If you or your friend would like to book a call with to ask any question or talk about a strategy, feel free to. I'd love to hear more about this new venture.
I work with a number of clients to improve their leadership skills and I see this more than you would think. There are a couple of ways to look at it.
More often than not, you see fallout of the veteran employees and one or both could possibly leave you. This is ok. You have prepared for this and have the systems and processes in place to cover the gap until you fill the positions and train the replacements in the shortest time possible.
The second scenario is that you are able to get all three of them in a room together to has it out. You will need to facilitate this. It will take a good deal of planning and framing to understand that no one is to blame or wrong. It is time to get your team on the same page, letting the veteran employees understand that she has been brought in to execute your strategy for the company, not a hidden agenda. I would also suggest some leadership coaching to address change management.
I'd love the opportunity to chat to you more about this and see how I can help. Feel free to set up a call with me.
As the owner of your business, you should never feel threatened by the loss of an employee. Have a straightforward conversation with the employees to let them know that you are willing to take action if necessary. Work on assertive communication techniques that will help you hold the space. In my experience, some of the most challenging staff I have managed, have thrived after I have reset the expectations.
As far as the threat of losing his, keep your feelers out for a possible replacement and start building the systems and processes you will need in place to train the replacement in the shortest amount of time.
I work with entrepreneurs to build their businesses, address risk and strategy and work on leadership. I'd love to discuss this more with you and answer any questions you may have. Feel free to set up a call with me.
This is a tricky one to answer as there are three of you in the mix. I would suggest you get together to look at your common values and what your intended outcome for the business is to make sure that is aligned first. For example, are you building a business that will sustain your lifestyles versus one that has the potential to be come a listed entity or one that you are building to sell. Starting with the end in mind can help you see things more clearly. If you would like to go into detail on this topic, feel free to set up a call with me.