PRACTICAL WAYS TO OVERCOME BUSINESS CHALLENGES

An african American business woman Coaching a client

1. Identify the root cause of the problem: To overcome a business challenge, you need to understand the root cause of the problem. Analyze the situation and identify the underlying causes of the challenge. This will help you develop a targeted solution and prevent the problem from recurring in the future.

2. Seek advice and support: Don’t be afraid to reach out for help when facing a challenge. Seek advice from mentors, industry associations, business coaches, and other professionals who can help you navigate the situation. Collaborating with others can help you gain new perspectives and insights.

3. Develop a plan: Once you have identified the root cause of the challenge, develop a plan to address it. The plan should be specific, measurable, achievable, realistic, and time-bound (SMART). Break the plan down into actionable steps and assign responsibility for each task.

4. Prioritize and focus: When facing multiple challenges, it’s important to prioritize and focus on the most pressing issues first. Addressing these challenges can help alleviate stress and free up resources to tackle other issues.

5. Innovate and adapt: To overcome challenges, you may need to innovate and adapt your business model, products, or services. Look for ways to differentiate yourself from competitors, and consider new opportunities and markets.

6. Invest in technology: Investing in technology can help you streamline your operations, improve efficiency, and stay competitive. Consider implementing new software, automation, or other digital tools to help you manage your business more effectively.

7. Communicate with stakeholders: Communication is key when facing business challenges. Keep stakeholders informed of the situation and the steps you are taking to address it. Be transparent and honest about the situation, and offer solutions and reassurances as appropriate.

Power of Resilience

Resilience is an essential quality for business owners in today’s dynamic and ever-changing business landscape. The ability to adapt to challenges, recover from setbacks, and remain focused on long-term goals can make the difference between a thriving business and one that struggles to survive.

In today’s post, we will explore the power of resilience for business owners, and in the next post, we will discuss strategies to cultivate this invaluable skill.

The Importance of Resilience for Business Owners

1. Navigating Uncertainty: Business owners face numerous uncertainties in their journey, ranging from changing market conditions, economic downturns, evolving technology, and even global crises. Resilience empowers entrepreneurs to embrace these uncertainties and turn them into opportunities for growth and innovation.

2. Recovering from Setbacks: All businesses experience setbacks at some point or another – be it financial losses, unexpected challenges, or even personal difficulties. Resilient business owners can bounce back from these setbacks by learning from their mistakes, finding creative solutions, and maintaining a positive mindset.

3. Maintaining Focus: Resilience enables business owners to maintain their focus on long-term goals while dealing with short-term challenges. By staying committed to the bigger picture, resilient entrepreneurs can better allocate resources, make strategic decisions, and achieve sustained success.

4. Building a Strong Team: Resilience is not only essential for the business owner but also for their team members. By fostering a culture of resilience within the organization, business owners can create a supportive environment where employees feel empowered to navigate challenges, innovate, and contribute to the company’s success.

Strategies to Cultivate Resilience for Business Owners

1. Develop a Growth Mindset: Adopting a growth mindset involves embracing challenges, recognizing that setbacks are learning opportunities, and believing that you can improve and develop your skills. By cultivating a growth mindset, business owners can foster a more resilient approach to their entrepreneurial journey.

2. Embrace Change: Change is an inevitable aspect of running a business. By embracing change and being open to new ideas and approaches, business owners can adapt more easily to new circumstances and maintain their resilience in the face of adversity.

3. Build a Support Network: Surrounding yourself with a strong support network of like-minded entrepreneurs, mentors, and advisors can provide valuable guidance, encouragement, and resources to help you navigate challenges and maintain your resilience.

4. Prioritize Self-Care: Resilience requires physical, emotional, and mental well-being. Business owners need to prioritize self-care, including regular exercise, healthy eating, and adequate sleep, to maintain their energy and focus during challenging times.

5. Set Realistic Goals and Expectations: Establishing realistic goals and expectations can help business owners maintain their motivation and resilience. By breaking down long-term goals into smaller, manageable milestones, entrepreneurs can make steady progress and celebrate small victories along the way.

In conclusion, resilience is a powerful asset for business owners in achieving long-term success. By cultivating resilience through a growth mindset, embracing change, building a support network, prioritizing self-care, and setting realistic goals, entrepreneurs can navigate the uncertainties and challenges inherent in running a business and ultimately build a thriving, sustainable enterprise.

Marketing Strategy

Marketing is an essential component of any successful business. As a business owner, it’s important to market your products or services effectively to attract customers and generate revenue. Here are some tips for marketing your business the right way:

1. Identify your target audience: Understand who your ideal customer is and what their needs are. This will help you tailor your marketing efforts to reach and engage with them effectively.

2. Develop a strong brand identity: Your brand is the face of your business and should reflect your values, mission, and unique selling proposition. Create a compelling brand message and visual identity that resonates with your target audience.

3. Utilize multiple marketing channels: Experiment with various marketing channels such as social media, email marketing, SEO, PPC advertising, and content marketing. Find out which channels work best for your business and focus your efforts on those.

4. Create quality content: Produce high-quality content that informs, educates, and entertains your audience. This can include blog posts, videos, infographics, podcasts, and more.

5. Engage with your audience: Build relationships with your customers by engaging with them on social media, responding to their comments and feedback, and providing excellent customer service.

6. Measure your results: Use analytics tools to track your marketing efforts and measure your ROI. This will help you identify what’s working and what’s not, so you can adjust your strategy accordingly.

Remember, effective marketing requires ongoing effort and experimentation. Be open to trying new tactics and adapting your approach as needed to achieve your business goals.

LAUNCH, RUN AND GROW YOUR BUSINESS

We teach entrepreneurs the skills that they need to build their businesses on any budget.

https://salmonglobalacademy.teachable.com/courses

Our courses include;

√ Marketing techniques

√ Branding basics

√ Graphic design

√ Mastering the entrepreneurial mindsets

√ Growth strategies

√ Investing

√ Financial management

√ Risk assessment

√ Professional development

√ Book Writing

√ Publishing,

√ Turning your book into profit,

√ Launching a business,

√ Software implementation, and so much more…

https://salmonglobalacademy.teachable.com/courses

We have a wide range of courses to help you take your business from Startup, to profitable in 90 days or less.

Whether you are building your business on a bootstrap budget, or fully funded by investors, we have all levels of courses to help you launch, grow, run your business, and dominate your marketplace.

https://salmonglobalacademy.teachable.com/courses

The 5 Entrepreneurial Mindset

I am a serial entrepreneur and l am here to share some mindset an entrepreneur needs to have and what to do to get there. There are 5 mindset l want you to note down because all of us go through these stages at one time or the other.

Now, you need to know the why behind what you are doing because everybody has a reason for doing what they are doing, if you don’t have a reason for what you are doing, it will show in your business because you are your brand.

https://elevationradionetwork.com/album/lets-talk-t-e-e-podcast/

Click on this link above to learn more.

You have to be consistent with your message because you are not different from your business, your mindset reflects on your business, your personality is there for all your clients to see. You don’t have to be different because what people see is what they believe.

There are 5 types of mindsets, which are:

  1. Perfectionist Mindset
  2. Sabotaging Mindset
  3. Fear of letting go Mindset
  4. Servant Mindset
  5. Busy body Mindset

These are the 5 mindsets every entrepreneur must look into; you need to be careful with the message you pass across because people see you before your business.

Look into your personality because you can’t say you are different from your business, having a terrible personality will affect your business in a bad way.

Remember, you are a diamond which is not seen commonly because it has to be dug out, refined and go through the process before you can talk about shining.

Avoid comparison because your message is different from theirs, many of them have been in business for years and hence the level of growth, so let go of perfectionist mindset and start from somewhere and grow as you go.

Visit this link below to listen to more amazing content on our podcast

https://elevationradionetwork.com/album/lets-talk-t-e-e-podcast/

How Coaching Facilitates Your Business/Career Growth

An african American business woman Coaching a client

Thomas Leonard, a financial planner from the United States began coaching. The year 1861 was the first-time coaching was used and it was in an athletic sense where older sport men train new ones to maximize their strength and potential.

To put it better, coaching has been in existence for centuries, in fact many were practicing it but didn’t know the name to give to it, but as time went by people were able to popularize it due to its efficacy and result. Many people have achieved so much and discovered a potential they never knew existed in them due to coaching

What is coaching? Coaching is the process by which an experienced professional in a specific field helps the other party through training and guidance to solve a particular problem or achieve a goal. Coaching is provided by someone with years of experience and expertise, this person is known as a coach, while the other party who is there to either solve a personal or professional problem is known as the client.

Coaching is different from mentoring and consulting. 

Coaching is the process by which the teacher or coach helps you find out and understand the problem, proffer a solution and join you in solving the problem while equipping you with the right skills and strategies to tackle it next time it arises.

Coaching has saved many lives, families, relationships and businesses. 

I wonder what would have happened if great footballers we know of today depended on their own wisdom and experience alone, they would have remained below average because there is a limit to what you can do, in fact that is why God strategically positions people around us to help us cross one milestone or the other. Spending the time, you would have used to hit various milestones on just one milestone is not a good thing. 

While consulting is all about helping you solve your problem, coaching goes beyond that, coaching teaches you the techniques to apply, how, when, where and what to do.

I have seen many clients come with certain issues about their business and how they think they can go about it but after sessions with them, they were able to find out the real problem and the main thing they were supposed to be doing and getting results effortlessly.

This can only happen when you understand the importance of personal and career development, growth is not mysterious, it is not magic, there is a principle and procedure to it.

Below are a few ways coaching can help facilitate your business/career growth:

1) It helps you to know your priority: Have you ever seen someone who has fever but was being administered stomach ache medicine? The worst can happen right? That is exactly what happens when you try to solve the wrong problem, and except diagnosis is carried out you might not know what you are dealing with. Coaching helps you to know what is going on, what you need and how to apply them. Diagnosing the said problem is the first step a growth conscious person must know and apply.

2) It helps to keep at your goal: Knowing what to do is not the problem, the problem is actually doing what you ought to do. Many have one business goal or the other but because they lack oversight or an accountability partner, they can’t really do much. But when you have a coach guiding you on what to do at times, it will be hard for you to miss it. This is how coaching helps accelerate your business or career growth.

3) It helps you stay focused and thereby achieve more results: For everything we involve ourselves in, the end goal is to get results and results can’t come when you are not doing the right thing. This is why you need to go out of your way to seek help, anyone can achieve any level of result but it takes a growth conscious person to achieve an extraordinary result.

Salmon Global Academy is a coaching platform specifically for people who want to build and scale their business, career or personal brand.

You can register with us and take your growth to the next level. Truth is, most things you are looking at for in your business or career are also looking for you but it has not seen the version of you it is looking for. So as oyu grow, you grow into success and wealth.

 

Sales is The Life-blood of a Business

One of the reasons people leave business is simply because the income isn’t coming as expected, income to pay salaries, foot bills, reinvest and so on.

What if l tell you that in our academy, you will learn practical ways to sell without breaking the bank? See, selling is not negotiable in business except if you are there for fun.

Sales is the life blood of any business, it is one aspect that if you get right, 70 to 80% issues will be solved.

I feel bad whenever l see entrepreneurs struggling to sell their products. Mind you, their products are nice and solve problems but they just lack the basic skills to make the sales happen.

I am a lover of knowledge and l hate stress especially trial and error, meaning that, if it is not working, I don’t have any business there.

I can help you solve your business sales problem only if you allow me to. I have been in business for years and run multiple companies, we are growing every single day and have not owed my employees for any reason.

This is simply because the resources are coming in, and this happened because we know how to sell and sell again.

I can help you achieve the same result if you will allow me, kindly send me a message, drop a comment or email me fast to get started.

Kill Fear And Launch Out

If you are waiting for everything to be ready before you start, then you might wait forever (Shanie Salmon-Godfrey)

Many have gone to the grave with their dream of owning a business, running a company, writing a book, doing big and great things but did you know what happened? Their fear came like a thief in the night and stole all they had nursed in their heart for long.

Nothing gets done by thinking or wishing, waiting for the perfect time is a mirage because there is nothing like a perfect time, delay is dangerous!

Anytime you start is the perfect time, once you have the basic idea, qualification on what you want to do, kindly move on and start up. Most business lessons l know today were grabbed when l was doing the business not when l was thinking about it.

Today, l dare you to break free from fear and launch out, go and get your dream from that fear or you might live all your life regretting and watching someone else do what God has called you to do.

You are not too small to start anything, don’t allow wrong mindset to steal your dream away. See, you won’t understand the joy of living and fulfilling purpose until you really start fulfilling purpose.

I can tell you for free that there are a lot of things money can’t buy and one of them is FULFILLMENT. It only comes when you go out there and show the world your flavor and what stands you out.

In my Academy, Salmon Global Academy l teach intending entrepreneurs proven steps to take to scale in their business. I help you with the right mindset, tools, techniques and strategies to make you stand out.

This is my dream; this is what l was born to do. To help people shine their light for the whole world to see.

You are gifted, you are talented far beyond your imagination, just allow me guide you through on how you can be a champion even if you have never stepped out of your comfort zone before.

Quickly send me a DM, Comment, Message, email me, anyone that is convenient for you and let us start right away.

Time is ticking and you can’t afford to let fear steal your joy and dream.

Launch A Business In 90 Days or Less

You are one of the many millions of people who do not like their status quo and they really want to get out of it but procrastination, the fear of the unknown, and some other factors will not let them. You see, starting a new business is not rocket science and anyone can launch a business in 90 days or less. You need the right information and you need to be ready to start, do not hold back “just start”.

Do You Have an Idea?

For some people, ideas flood their minds and they sometimes get overwhelmed, consumed with doubts and “perfectionism”. For other people, they simply do not know what to do, yes, they would like to run a business of their own, but what business?

The ultimate key to this problem is SOLUTION. Whether you have a genius idea or not, it does not matter if the idea does not solve a problem. So first, think of a problem people are facing, when doing this, keep in mind that you need to think of a problem many people are facing, not just few members of the society, but a whole lot. On the other hand, if you happen to have so many ideas, the same approach should be used, think of a problem many people around you are facing – it does not have to be a complex problem, just something simple.

Once you can pen down a problem, the next step is to think of a solution that people who have that problem would be willing to pay for. Again, the solution is important, therefore, see that the solution can be accessible to people who have the “problem”. The solution must be sellable, in the sense that you can market it offline or online depending on the problem. Lastly, your solution must be legit, do not go against the law in your town.

Note: do not let this thinking process weigh you down, do not dwell on it, execute it. If you cannot think of any problem or solution, reach out to experts who will come up with ideas. However, friends and family can do this as well, just ask them. Two weeks is enough for this stage.

Study the Market

At this point, you already know what you want to do but you lack some valuable information about it. There is hardly any business idea that does not already exist in some way. So, go out there, look around you, ask questions. Ask experts, find out the cost of producing your solution, how to get your target audience to become aware of your solution – how to make your solution accessible to your target customers/clients. Find out the laws regulating your kind of idea in the business sector. You need to be on the safe side and not step on any toes. By this, I mean follow the rules set by your government. Learn about your competition, study people/businesses that already offer your solution. Find their flaws, that will help you to avoid them when creating your solution.

Ask your target customers questions concerning the problem they’re facing and if they’d like your proposed solution. This is so that you can know how to serve them well. You would also learn how badly they need your solution, and this will help you determine your pricing.

Find out the best location for the running of your proposed business. If offline, find a suitable location that will enable you to reach your target audience. If online, then research on the process of starting and running a business online – you need a website, you need to maximize social media, get to know your business.

Note: you don’t need to have all the details, get to work with whatever information you have. This should be done in two weeks – four weeks.

Write Your Business Plan

With all the information you have gathered, you can then get down to write a business plan. If you do not know how to, just outsource it to a pro. Do not even dwell on it.

Two weeks is also enough for this. Do not forget to give the pro writer relevant information once you ask him/her to write your business plan – do not be the cause of delay.

In Betweens (Fund and Others)

“What about capital?” Oh, I did not forget about it, it is just not the major problem when it comes to launching a business in 90 days or less, the problem is acting. In any case, money is also important because you need to be able to fund your idea. Your savings will come in handy here, friends and family are your best shot. Do not start looking for an investor, which might take forever. You only need to talk to your friends and family who believe in you over dinner or coffee or anything that works for you. Be convincing, make them believe in the idea, you would be amazed by how much their support can do.

Some family and friends will not support with money, but they can support you by advertising your new business to the world. You can use them to execute some of your ideas, make them run errands and get them to work on the idea.

Note: there is no point dedicating time specially to this, you can do this at the same time you are working on the business plan. More importantly, you do not need millions to start a business, start with whatever you have.

Start

You do not need a big idea to start a business neither do you need big capital, just start!

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