Do I Expand Or Not?
Trade Business Coach, Wayne Bettess discusses;
I see this question asked all the time across social media. To be honest, there is no right or wrong or answer to this question.
Let me have you consider a few things before you make your mind up;
- Does your business have solid foundations?
- Do you have the cash flow to support you?
- Do you have enough work?
- Is that work regular and reliable?
- Have you learned to manage people?
- Have systems and processes in place?
- Do you have a Business Plan?
- A Business Strategy in Place?
- Do you have a clear direction?
- Are you in sync across the Three B’s – Body Business & Balance?
YES OR NO?
If you have answered NO to any of these. I would strongly have you consider that the answer should be big NO!
In this section, I’m going to explain why Being a good Tradesman / Tradeswomen DOES NOT mean you are or will be a good businessman. They are two completely different skillsets. Firstly, If you are serious about expanding your business, then you have to be serious about personal and business development. Ultimately, growing into that new person you must become.
When I first grew a business, I sadly never took note of the above. Didn’t understand that I needed to become a different man, and as a result, I lost it all.
I mean it all, I didn’t even have a van!! Left with Nothing!
A few years of soul searching took place before I re-found my passion and excitement. But, once it returned I knew that my past mistakes had been a blessing in disguise. At the time I was 25/26 and tbh, I wouldn’t listen to anyone. I KNEW IT ALL and the only way I was ever going to learn was by failing BIG!
Back then there wasn’t any easy access to Trade Business Coaches, support groups or networks to leverage. Things have changed so much, a quick search on your phone and you can surround yourself with like-minded people. You Can Start learning by soaking up the mistakes and pitfalls they have all made… ALL FOR FREE!
DO NOT EXPAND WHEN YOUR BUSY… Trade Business Coach Advice
My experience has taught me, the worst time to try and expand is when you are mega busy. This will lead you to make rash decisions. That will end up coming and biting you on the arse…
The first thing I would do in this position is to raise my prices. Raising your prices will, in most cases, stem the influx of work but maintain the profit you are accustomed to.
Once you have bought yourself some time you can prepare, plan and execute with a lot more clarity and certainty.
Once I was back on my feet. I quickly noticed that most successful people I had seen or encountered had one thing in common. THEY HAD A COACH. Whether it be Usain Bolt, the worlds fastest man. A successful local businessman, they all have coaches that help develop & maximise their natural skills.
I decided I need to get a coach right now. Well, it didn’t quite go to plan. I found a coach, and tbh I did learn a lot from the man. Unfortunately, it was all generic coaching, Not a Trade Business Coach. Ao after a few months, I wasn’t finding the value in what he was doing. This led me to find another… then another.
Use a Trade Business Coach- NOT ALL COACHES ARE EQUAL
As a result, I realised that running a trade business is not like any other business. We have a unique set of problems and solution, and the generic coaching wasn’t going to cut it. This cycle continued for a year, or so then I had a lightbulb moment. Why don’t I become a Trade Business Coach!
It became apparent that I actually loved helping and supporting others. I had been doing it for years to people around me so why not!
Over the past 3-4 years, I have dedicated myself to learning and developing my Trade Business Coaching skillset. That mixed with my hand’s experiences gathered in life running successful Trade Business. This reaffirmed that I was on the path designed for me.
TIME TO ELEVATE
As a Trade Business Coach, I work with tradesmen across the UK, From Bristol to Glasgow, Manchester to Bournemouth. What I Have found is, Firstly, some very similar threads. Secondly, They all seemed to think they had to do it all on their own. The biggest part I play as a Trade Business Coach is becoming part of YOUR TEAM, Ultimately, holding you accountable and making sure you do what you say you are going to do! Head over to the Off The Tools Academy page to learn more.