BARON Business Coaching will help you avoid the seven major reasons that businesses fail:
1. Inadequate planning which includes undercapitalization and lack of competent advisors
2. Using the wrong business model
3. Failure to create a niche
4. Failure to deliver the highest value in the marketplace
5. Failure to establish partnerships and joint ventures
6. Failure to establish adequate trust and credibility with prospects
7. Using inefficient tools and processes
To profit as an entrepreneur, you must treat your business like a business.
Sustainable business success requires:
• Advisors
• A business plan which includes a comprehensive branding, marketing, sales, and advertising strategy
• An appropriate entity structure which takes into account your capital and management needs, the possibility of having to sell or give away stock, and your estate and tax planning needs
• A funded budget and access to capital
• A team of people to execute core functions (even if just a few independent contractors)
• A clearly defined customer segment
• A comprehensive product/service line
• A release schedule for new products
• Scalable business initiatives
• Time and money allocations for research and development
• A retirement plan
• An exit strategy to "cash out" or automate your business
Your BARON Business Coach can show you how to pull all of these essential elements togther quickly, profitably, and at a low cost, dramatically reducing your risk and the time required to successfully to run your business.
Remember, as an entrepreneur, you are a professional competing against other professionals for your customers' time, interest, business, and loyalty. To be successful, it will require a vision, coaching, commitment, planning, investment, training, and teamwork.
By approaching your business the right way from the beginning, you will have the luxury of increasing your income while simulatneously increasing your time off!
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William R. Patterson is CEO of The Baron Solution Group. He is also Chairman and CEO of The Warcoffer Capital Group, LLC ("WCG"). He leads the WCG's corporate strategy and development consulting efforts including portfolio management, mergers, acquisitions, and divestitures.
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The Baron Solution Group is an award-winning training, business coaching, and consulting firm for executives, entrepreneurs, and investors lead by William R. Patterson. William is ranked as the #1 Business Motivational Speaker by Ranking.com and is also winner of three 2008 Web Awards including Best Speaker, Best Male Author, and Best Wealth-Building Site. THE BARON SOLUTION integrates over 200 proven business and financial accelerators to help you rapidly achieve your organizational and personal goals.