January 2009 – # One reason for divorce – financial problems

I have heard that statistic so many times, it is truly hard not to believe it.  For sure 2008 was the year that everyone’s finances became stressed, because they either:

• had their checking or savings accounts were with a bank that disappeared (Washington Mutual, Wachovia etc).  Although to my knowledge no one lost their money…
• invested in a slumping stock market, so stocks, mutual funds all were valued at less through the year.  Savings and 401K’s lost value…
• house prices fell…
• purchased a new car in 2007 because the prices seemed so cheap – and now so the market is even weaker now…
• lost sales as the flow of money tightened – and see customers disappearing, expect more to go and worse wonder how stable they are themselves…
• they never talk about money together and have not created or updated their financial plan

So what can we do….as small business owners (0r even as employees) with this rapidly changing environment – firstly do not panic.  This is not new and personally I see that most people survive in some form or other.  In fact, many businesses have use this time of uncertainty to their advantage.  The ones that do, have done a SWOT analysis of their business (or even personally) and found that for every threat they are exposed too, there is actually a GREAT OPPORTUNITY to go with it.

So how do they find those opportunities, well most have hired a business coach, because it works and is an inexpensive too.  I believe that a business needs three A’s on his team; attorney, accountant and actionCOACH.

Who as a business owner would expect to do well without an attorney or accountant. Most coaches are hired to achieve results and so their value is based on their ability to perform.  If you not sure ask a coach to show you how…

What can I as your business coach do for you – small business owner:

• help you grow your business by stealing market share from your competitors
• help you find the areas of your business it makes sense to cut-back
• help you create a team of focused winners
• and lots more..