Welcolm to The Profit Masters Club
The Profit Masters Club is specifically for the small, medium sized business sector of the UK economy.
There are an estimated 4.8 million SME’s in the United Kingdom, and perhaps like the majority of entrepreneurs you started your business (or are thinking of founding one) for one or more of the following reasons:
• a desire to create wealth for you and your family
• a desire to have a better work versus personal life balance
In general, entrepreneurs have a skill base appropriate to the product/service they are offering. They are comfortable in their area of expertise and have received a traditional education. Very few have received a formal business education and most learn through observation, personal experience and self education.
We have all benefitted from observing how others manage their businesses but it is also true to say that what is observed most frequently is failure. Reliable statistics reveal that 4 out of 5 new enterprises fail in the first 5 years and that only 1 in 25 exceed 10 years of trading. We notice more when things go wrong than when they go right!
The truism of arriving in later life saying “If I knew then what I know now I would be truly awesome!” indicates the problem. Learning ‘on the job’ is limited to the quality of those with whom you work....and there is no guarantee that they are doing things in the best, most effective way.
It is also fair to say that ‘what is good now’ will not necessarily be good for the future. Technology, lifestyle, fashion and government legislation influence rapid change and it is the challenge for the SME entrepreneur to not just keep up but to get ahead. How do you do this in your business?
The desire to learn and ‘self educate’ is a strong feature of most successful entrepreneurs. This is not usually the MBA approach as this is seen as ‘too theoretical’ and ‘time consuming’. Many founders start with ‘good intention’ to bolster their business knowledge but intention rapidly diminishes to ‘nice to do’ and subsequently ‘do nothing’, as the day to day of managing and building a business takes over.
Perhaps, like thousands of others, you recognise that ‘things could be better’ but are uncertain of what to do about it......and......unless your business is cash rich you are likely to be reluctant to invest in the ‘unknown’ consultant/coach, and a genuine fear of being ‘taken for a ride’......the question being...
“Will I get a genuine return for my money?”
For more information, please contact peter.joannides@profitmastersclub.com