Clear Pathways to Success: How Contractors Can Overcome the Three Major Barriers to Effective Busine
As a painting contractor, you've likely grappled with numerous challenges in the business realm. Perhaps you've tried to seek assistance from business coaches, only to find the process ineffective. However, before you lose faith in these potentially life-changing relationships, it's essential to understand why success may have eluded you in the past. Let me share with you the story of two individuals: Joe and Sam, both painting contractors like yourself, and their experiences with business coaching.
Joe, filled with enthusiasm and a hunger for success, signed up for business coaching. He was determined to get his company out of debt, increase his profits, and establish systematic procedures to streamline his business operations. However, after six rigorous months, Joe disappeared. The final verdict on his business coaching experience was disheartening. There was no significant change in his business, and he found himself standing exactly where he started. The investment seemed wasted.
On the other hand, we have Sam. Just like Joe, Sam was brimming with enthusiasm when he embarked on his coaching journey. Over the same six-month period, Sam saw substantial growth in his profits, an additional $120,000 to be precise, and paid off over $50,000 worth of debt. Two contractors, two vastly different outcomes.
So, why did Sam succeed where Joe failed? Having worked with hundreds of contractors and observing their journeys, I've identified three major factors that significantly influence the success or failure of business coaching. These are the three 'success killers' that you must avoid to reap the maximum benefits from business coaching.
1. Lack of Clarity in Outcomes
The first major barrier that hampers successful coaching is the lack of clear, defined goals. Many contractors, when asked about their business aspirations, provide a vague response such as wanting their business to "get better". However, without a concrete definition of what "better" entails, it becomes challenging to map out a pathway to success. As a contractor, you need to identify your business's precise needs and establish clear, measurable objectives. Without a distinct target, you're setting yourself up for failure right from the start.
The lack of clarity also manifests itself when contractors try to tackle multiple issues simultaneously. It's akin to hammering multiple nails at once. This scattered approach results in suboptimal progress in multiple areas, instead of significant advancement in one specific area. Therefore, focusing on one 'nail', or priority, at a time, will yield more significant results and bring about a domino effect of positive change in other aspects of your business.
Another crucial aspect of defining clear outcomes is the establishment of key performance indicators (KPIs). Metrics are instrumental in tracking your progress and determining whether your efforts are driving your business in the right direction. Regular examination of these metrics is crucial to ensure your actions align with your business goals.
2. Lack of Implementation
The second significant hindrance to successful coaching is the failure to implement learnings effectively. More often than not, contractors already possess the knowledge they need to improve their business. However, they falter when it comes to the implementation phase.
Part of the problem lies in the human tendency to seek out the "next big thing". The constant pursuit of novel knowledge often leads to neglecting the implementation of already acquired insights. But remember, it's the fundamentals that make or break a business. There will always be new strategies, platforms, or tools, but the bedrock of a successful business remains the same.
Implementing the basics, like ensuring your revenue is at least double your costs, is what drives success. Each successful implementation acts as a stepping stone, allowing you to gradually build a strong foundation for your business. Each brick you lay gives you a new perspective, which aids in understanding the next level.
3. Lack of a Supportive Community:
The final, and perhaps the most influential factor, is the community you choose to surround yourself with. Your environment significantly impacts your mindset and approach towards your business. If you're surrounded by unsuccessful contractors who are struggling with their businesses, it's likely you'll start to absorb their negativity and limited thinking.
Instead, it would be best if you aimed to surround yourself with individuals who are a few laps or even yards ahead of you. Their success stories can inspire you, their challenges can teach you, and their mindset can influence you to strive for better. The company of successful individuals creates an environment conducive to growth and learning, propelling you towards your business goals.
To ensure you are successful in a coaching relationship, it's essential to make sure you have a clear outcome, implement what you know, and surround yourself with a supportive community. Remember to hold yourself accountable and reflect on whether you have done your part to make the coaching program work for you.
Often, fear holds people back. Fear of failing, fear of making changes, or fear of stepping out of their comfort zone. But the most significant fear that inhibits success is the fear of hard work. Many contractors are afraid that they won't do the necessary work, so they end up making half-hearted attempts and making excuses. Don't let this be you.
Join a community that cares about business and growth. Give your knowledge generously, and you'll find that when you give, you receive in return. Immerse yourself in the right community, and you'll find good things start to happen. Your journey to business coaching success begins with one small step: getting clarity on your goals, implementing what you already know, and surrounding yourself with the right people.