An 8 Step Business Counseling and Guidance Method That Works
Successful business owners face problems which they solve with the help of family, friends, mentors, and business professionals like a business counselor.
Business counselors should apply something like this 8 step business counseling and guidance method because it works. Most successful businesses use a similar type of method to help solve problems, achieve business growth and increase wealth.
This successful 8 step business counseling and guidance method repeats itself at the end. After each period a business should repeat the process with new and improved information.
It is useful to examine the 8 step business counseling and guidance method to get a sense of what occurs in a business counseling relationship and how the successful business owner brings about business growth and increased wealth.
In the successful 8 step business counseling and guidance method, problems and the suggested answers are written down. This is followed by the implementation of a plan. Then, an evaluation is made and the results are also written down. Use the 8 step business counseling and guidance method yourself, or work with a professional.
The successful business owner takes responsibility for the 8 step business counseling and guidance method and the business counselor provides ideas, research, and expertise. Here are the eight steps:
- Counselor and Client introductions and review of the business background, goals, and problems. In the 8 step business counseling and guidance method, the business counselor will listen carefully and take notes.
- Make an assessment of the business market, location, sales, assets, costs, resources, labor requirements, investments, and financing. In the 8 step business counseling and guidance method the counselor, the business owner, and as many of the business owner’s network contacts as possible should be involved .
- Identify the factors that limit business growth. The factors that limit business growth may be market related or money related, or they can be related to something else, like labor issues or raw material supply. For most business situations, there will be a list of several factors that limit business growth.
- Write a plan to deal with each of the factors that limit business growth. The successful business owner will base their plan on in-depth research. Research includes collecting data, finding information, drafting specific goals, making up realistic strategies, and making time limits. Before it is finished, a good plan should be reviewed by many people with knowledge of business and the markets, and they should be asked to pay special attention to the content. The successful business owner will get the reviewer’s input looking for strong and weak aspects of the plan. Then, the successful business owner will use this input to improve the plan before it is final.
- Implement the plan. Here again the successful business owner has responsibility. It has to be the business owner’s plan. The professional business consultant has the role of a guide and a coach in the 8 step business counseling and guidance method.
- Evaluate what happens. Doing this requires having a good accounting system in place and keeping measurements where they can be made regarding the plan’s results. The business consultant has tools like break-even analysis, ratio analysis, cash flow spreadsheets, and financial forecasting which can be used in the evaluation stage of the 8 step business counseling and guidance method.
- Make an appraisal. At the end of the plan’s time frame, a study is made of the results. Some questions are asked like, “What are the new limits on business growth?” and “What part of the plan worked and what did not?”
- Return to Step 2. That’s right. Go through the process again with new information and a new time period.