The Best Business Coach For Retailers
People start their own businesses to reach personal or professional goals. The challenges of running a brick-and-mortar enterprise aren’t what they learned in business school, though. For example, what’s hot today is yesterday’s news tomorrow.
A business owner could be faced with a stagnant business. Talent is leaving or not interested in signing up. Revenue just isn’t there. Becoming a more effective leader crosses the business owner’s mind. Business coach Alvin Narsey will step in to help. Here’s how.
Business Coaching Statistics
Before we dive into how the best business coach can help your business, let’s discover if it actually works. The coaching industry is worth over $15 billion, so something’s working. Seventy thousand business coaches work around the world. Sixty thousand of them are female.
Generations And Earnings Of Coaches
Most business coaches outside America are Gen X. Inside America, Baby Boomers comprise 54 percent of coaches of all types. American business coaches make 45 percent of total global yearly revenue. As of 2019, American revenue rose by 36 percent. European revenue is lower, but Europeans spend 1.4 percent more on coaching.
Return On Investment
The return on investment or ROI from using the best business coach was discovered through surveys and feedback. Ninety-five percent of clients thought their coach was good to excellent. Ninety-nine percent of clients were satisfied with their coach’s work.
A study performed by the International Coaching Federation found that 68 percent of those coached made back their investment to the tune of 3.4 percent ROI from the beginning of the investment. Companies make a seven percent ROI as opposed to individuals.
Business Coaching Is About Focus
Alvin Narsey has been buying and building pharmaceutical businesses for 16 years. His business coaching services is now available to any retail business owner wanting to increase sales, generate cash, create more time freedom and keep it at the top of its industry. The way to do that is to focus, Narsey says.
Procedures And Systems
The first thing business owners need is a structure, otherwise chaos rules. You’ll need several areas to be covered:
• Security. Buy a CCTV camera system or hire a walk-around security guard. You'll be protecting your stock. Money isn’t walking out the door. Don’t skimp on this if you want your money to remain inside the store.
• Safety. If something falls off a shelf or out of the ceiling to hit a customer on the head, then you’ll probably need a lawyer. Keep up on regular maintenance.
• HR. Investing in a dedicated department to scout and hire the best employees available is one of the most important systems on which you’ll focus. That talent can take your business to the next level.
• Merchandise systems. Buy an MMS or merchandising management system. It frees up your time by controlling point of sale, inventory, security tagging, price changes, and more.
• Customer relations. If your brick-and-mortar store has a website, then buying CRM or customer relations management is vital. It manages customer reviews, retail marketing strategies like email or social media sales alerts, and possibly scheduling service on your merchandise.
Building Soft And Hard Business Skills
Up to now, you’ve seen the best retail business coach establish systems for your brick-and-mortar store. Now you need details about the hard and soft skills you need as a human being running that business.
Soft Skills
Emotion generally has no place in a business environment, but it underlies a business owner’s decisions and handling of employees and customers:
• Emotional balance. At least once a day, employees look to their leader to handle a situation. This leader is self-aware, knows how triggers work and moves to calm the waters. This balance is taught to the client by business coach Alvin Narsey.
• Emotional intelligence. When you can read a room with an eye to drawing people or customers to you, when you’re confident in your business goals and the steps you need to get there, and when you’re optimistic about all of the above, then your coach is indeed the best business coach.
Hard Skills
The business owner will focus on the environment outside his brick-and-mortar store due to its influence on his business:
• Analysis. Strategy, marketing, continuing business education, and changes in the talent landscape will all need analysis. The business owner will need to exit his comfortable box to apply newfound knowledge to the growth of his brand.
• Strategy. Business owners with no plan for their brick-and-mortar store typically have little to no business. Alvin Narsey didn’t become the best business coach without a plan. His 16 pharmaceutical stores didn’t succeed out of all bounds without a plan. He’ll work with you to formulate a winning strategy.
• Marketing. This is where analysis enters the picture. Market share, targeted market sectors, and the business owner’s brand are studied before the coach and owner sit down to talk. The business coach will have information at his fingertips, and knowledge is power.
From there, the business owner and coach will put this data to good use. A marketing plan will lift the brand to levels that will be recognized instantly by consumers.
• Public speaking. The business owner will meet with a lot of people in pursuit of the establishment of his brand. Not everyone learns in school how to speak in public. The business owner will possibly forget how to speak at all.
Remember that confidence and self-awareness have been instilled in you by your business coach. Hold your head up. You got this.
Book a call today to start implementing these skills and strategies.
The Best Business Coach For Retailers - a video about Alvin Narsey
