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Business Start-Up Overcomes Undercapitalization

May 5, 2018 0 Comments

Starting one’s own consulting business can be a daunting task. Only those with the ability to market, sell, and deliver their services while handling all the administrative functions of a business will survive long enough to hire people to whom they can delegate tasks.

Tobi had a tremendous amount of business experience but was struggling with building a website, developing marketing materials, networking, writing proposals, and other aspects of running her own business. These multifaceted tasks were keeping her from hitting her business goals. 

Although drained of capital and energy, she never stopped believing she could be a success. As her dreams were fading behind the need for cash, she took a step of faith and began a professional coaching program. 

In any coaching program it was important for the coach to understand your strengths, weaknesses, and motivational factors. Assessments are a valuable tool in this process and Tobi’s program used the Profile XT™, Performance Indicator™, and Sales Indicator™ from Profiles International. These tools helped her coach to understand the individual being coached and provide valuable growth information of the client.  

Tobi worked with her coach to develop goals that she was confident she could meet – and potentially exceed. The key to success was that one’s goals must present a challenge without being conceived as unrealistic or unattainable.  

Once the goals were finalized, Tobi and her coach noticed a major problem. There was a lack of funds to get her through a sales cycle that could extend as long as six months. She realized she needed to adjust her goals with something that would create a quick infusion of cash.

She decided to start a networking group encompassing an entrepreneurial education segment based on her consulting business. The learning segment allowed her to charge a small fee for the group which helped inject cash into her bank account while she worked on the rest of her business. Others in her group were able to improve their skills as they built strong relationships within the group.

Today, Tobi is consistently meeting her goals, which have been realigned to take advantage of her new skills and determination.  

Author Rick Weaver is founder of Max Impact, a leadership and business strategy development company. His white paper “You’re Not Running a Vineyard — so stop your whining!” provides insight into lame excuses for poor performance, is one of the complimentary resources available in the MaxImpact Resource Center.

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