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]]>Business owners carry a unique burden. Employees can leave work behind at the end of the day, customers move on to other priorities, and vendors go home. Yet even when the office is closed, the owner can never fully clock out.
Whether they realize it or not, many business owners carry the weight of every employee, every customer relationship, every financial obligation, and every strategic decision on their shoulders even after the workday ends. That responsibility can become exhausting and can even lead to burnout if not addressed.

When I ask business owners what concerns them most, the answers are remarkably consistent. They talk about cash flow, payroll, employee retention, sales growth, competition, rising costs, customer issues, economic uncertainty, business debt, and succession planning.
All the factors that keep business owners up at night are legitimate concerns, but most are symptoms, not root causes. Here are the deeper concerns behind most of these worries.
Keeping these four root causes in mind, we can see their common anxieties. Cash flow concerns may reflect a deeper feeling of instability. Delegation challenges may reveal a need for control. Employee issues may expose a resistance to trust. Business stagnation may trigger questions about leadership effectiveness.
The owner of a $1 million company worries about payroll. The owner of a $10 million company worries about leadership depth. The owner of a $50 million company worries about acquisitions, succession planning, and enterprise risk. Success, it would seem, is not a shortcut away from stress. Your stressors simply grow and change as your business does.
I have heard anxiety described as a “disturbed relationship with certainty.” Business ownership is an inherently uncertain field, but many respond by trying to seize a level of control that is impossible to fully achieve.
Often, business owners cope with stress and uncertainty through micromanagement, compulsive metric monitoring, or freezing up when it’s time to make decisions. This eventually becomes less about the individual problem on their minds and more about trying to eliminate uncertainty altogether.
A better approach is to cultivate a healthier relationship with uncertainty in your business. Becoming more comfortable with ambiguity through exposure, mindfulness, and a focus on what you can control can reduce its influence on your decision-making and day-to-day performance.
For more on this topic, see my blog post, Entrepreneurial Anxiety is a Disturbed Relationship with Certainty.
Stress and productivity do not necessarily move in a straight line. Increasing pressure at work can initially motivate and improve performance, but too much stress can ultimately undermine it.
Psychological research has long shown that performance tends to rise with stress up to a point, then decline, creating a spectrum from under-engagement to optimal performance to burnout. The key is not eliminating stress altogether, but recognizing where you fall on that curve at any given time.
Identifying personal tipping points can make it easier to develop habits that support long-term performance, such as prioritizing sleep, reducing unnecessary decisions, and taking meaningful breaks. Learning to manage your stress effectively can help you maintain focus and productivity without running on empty.
If you find that constant anxiety has taken a toll on your health, you may be suffering from entrepreneurial burnout. Stress is a given when running a business, but it becomes a bigger concern when it becomes persistent and starts affecting your life outside of work.
Addressing burnout rarely requires a single sweeping change. More sustainable progress often comes from small, repeatable adjustments, such as establishing clear boundaries, delegating responsibilities more effectively, and reconnecting with the original purpose behind your business.
When hopelessness or other serious symptoms remain despite these efforts, seeking support from a qualified professional may be more appropriate than relying solely on productivity strategies. Don’t be afraid to reach out to those around you if you need additional help.
The uncomfortable truth is that often, business owners create much of their own stress. While sudden changes can certainly be a cause of sleepless nights, that’s not usually the case.
Many of the issues that keep owners awake, such as underperforming employees, poor managers, pricing problems, customer issues, and succession concerns, have already been known about for months or years. Leaving these issues unaddressed lets them snowball into something much harder to deal with.
The owners who sleep best are not the ones with the fewest problems. They’ve built businesses that can handle their problems.
Successful owners focus on solving the real issues instead of just treating the symptoms. They put a focus on financial visibility, leadership development, accountability, strategic clarity, and trusted advisors. If you know your business can weather most storms, you don’t have to lie awake at night worrying about the forecast.
When pinpointing the root cause of your most common worries, ask yourself the following questions.
These are identity questions, and they often create more anxiety than operational challenges. They will help you discover the most pressing stressors in your life and business.
What keeps most business owners awake at 2 am isn’t the problem they’re facing today, but the problem they know they should have addressed yesterday. Delayed decisions cause sleepless nights. The cure for this anxiety is clarity—clarity around finances, people, strategy, and the future.
I probably sound like I have mastered stress and anxiety. This isn’t the case, even though I am acutely aware of the causes. As I write this blog, I have had several sleepless nights worrying about a problem I can’t personally control. The resulting anxiety has been considerable. For me, It’s not about the problem; it’s about unanswered questions.
You cannot eliminate uncertainty as a business owner, but you can build a business so resilient, so well-led, and so well-prepared that uncertainty no longer controls your life.
Want to learn more about mitigating anxiety in your business? An experienced coach can help. Click here to fill out my contact form, and let’s schedule a video call to talk about what’s keeping you up at night. For more great tips on leadership, business, and more, subscribe to my email newsletter to have weekly articles delivered straight to your inbox.
Coach Dave
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The legal terms of your franchise agreement may make it difficult to exit without a fight. Carefully consider your decision and weigh the pros and cons before taking any action. These are just a few signs it might be time to look for a way out.
When in doubt, ask yourself this: if you didn’t already own this franchise, would you buy it today? If the answer is no, it might be a sign that it’s time for you and your franchise to part ways.
In most cases, a franchisee cannot simply get out of a franchise without good reason. Franchise agreements are binding contracts for a set period of time, and you are obligated to fulfill your end of the bargain even if the franchise is no longer profitable.
This doesn’t mean you’re without options, however. There are several different ways to get out of a franchise even if your term is still ongoing. If you’ve been feeling burnt out or have accrued significant debt running your franchise, you may be able to walk away.
Some business owners feel bound to their franchise by the sunk cost fallacy. They feel that after investing so much into their franchise, exiting is the same as admitting defeat. This mindset keeps owners bound to failing franchises for far too long.
It’s important to reframe this mindset: for most people, owning a franchise forever is not the goal. The goal is to create a path to income and financial freedom. If these conditions are no longer being met, then the franchise has outlived its usefulness. In this case, exiting is not surrender; it’s a strategic retreat that preserves the potential for future success.
A franchise agreement usually lays out the conditions under which it can be terminated. Reviewing the agreement with a franchise lawyer can help you understand your options. It’s important to fully understand what you can and can’t do according to your contract before you try to get out of a franchise.
Four common franchise exit options to consider, each with its own pros and cons.
Your franchise agreement should contain information about how disputes must be handled. If so, base your decisions on the contract. These provisions help you navigate potential termination while avoiding court, if possible.
Usually, this process involves negotiation, mediation, and arbitration, with litigation as a last-ditch option if no amicable solution is reached.
Selling to an outside buyer is usually the preferred way to exit a franchise. Even a struggling franchise location may still offer value through equipment or territory rights. However, prolonged losses can affect your ability to attract a buyer. Start the selling process as soon as possible to maximize seller interest.
The corporate office must approve the new buyer to ensure they meet franchise operating standards. Usually, the franchise’s parent company has the right to match an outside buyer’s offer, so be aware this may happen.
If selling to an outside buyer isn’t an option, a buyout may be another way to recoup some of your costs. In this case, the parent company of the franchise may step in to buy the franchise back from you.
The terms for a buyout are usually laid out in your franchise agreement, which may limit your flexibility in negotiating pricing. Educate yourself on what this will mean for you before initiating the buyout option.
Most franchise agreements require legal grounds for franchisee termination. Business failure alone is usually not enough cause to exit a franchise unless the agreement specifically allows it.
However, a franchise lawyer may be able to help you determine whether the franchisor has failed to hold up their end of the agreement, giving you grounds to pursue termination.
Knowing how and when to get out of a franchise can be one of the most difficult decisions a business owner faces. With a clear understanding of the franchise agreement, a realistic assessment of the business, and a well-developed exit plan, a franchise owner can approach the process as a strategic business decision rather than an emotional reaction.
Do you think it’s time to get out of a franchise? An experienced business coach and attorney can help you evaluate your options from an objective third-party perspective. Fill out my contact form to schedule a free video call, and let’s talk. For more entrepreneurship tips, sign up for my email newsletter to have my weekly article delivered straight to your inbox.
Coach Dave
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]]>The post Entrepreneurs: Push Your Limits and Read the Book Elevate by Robert Glazer appeared first on Dave Schoenbeck.
]]>Robert Glazer is the founder of global marketing agency Acceleration Partners. He is an entrepreneur, speaker, author, and longtime contributor to business publications like Forbes and Inc.
In his book Elevate, he condenses years of hard-won lessons from building his company into one main idea: sustainable business success comes from expanding your capacity, not from working longer hours or pushing your people harder. In other words, you can only grow your business to the extent that you grow yourself.
Capacity, as Glazer defines it, is your ability to adapt, perform, and endure under pressure in business. This capacity is the true limiting factor when it comes to pushing the boundaries of business success. Balanced capacity growth across the most important areas of your life will create momentum that leads to growth over time.
Glazer’s book discusses four capacities across four different areas of growth: spiritual, intellectual, physical, and emotional. Many entrepreneurs prioritize each capacity differently in their own lives, leading to uneven personal development. Sustainable, long-term success requires balance. Here’s how each one applies directly to entrepreneurs.
Your spiritual capacity includes your values, your purpose, and who you are as a person. These values filter every decision you make, both in business and in life. Too many entrepreneurs chase opportunities without first making sure they’re aligned with their aspirations. This is a recipe for resenting your business as it grows.
To build spiritual capacity, clarify your purpose and values. What drove you to build your company in the first place? Write down your mission statement if you haven’t already. Revisit any notes you have from the very start of your business to remind you of your aim. Then, moving forward, check any and all goals and ventures against this purpose.
Your intellectual capacity is your ability to think, learn, adapt, and execute. A growth mindset is key for long-term strategy and personal development, and a flexible, agile mind is necessary to see and plan for the future.
You can shape your intellectual capacity by pursuing education opportunities both within and outside your industry, practicing discipline and delayed gratification, and treating yourself as a perpetual student in the school of life. Keeping your mind sharp will help you navigate business difficulties down the road.
Too many business owners are willing to spend plenty of time on their mental development without ever sparing a thought to the physical. In a world where office jobs require you to be at a desk for 8+ hours a day, oftentimes more than that for CEOs, it’s easy to let proper sleep, nutrition, and exercise fall by the wayside.
No matter how talented and driven you are, you will hit a wall if you keep neglecting your physical health. Physical capacity building looks like developing an exercise routine, managing your stress, eating well, and getting enough rest. These things help you perform at your best for many years to come.
Emotional capacity determines how well you handle criticism, uncertainty, and interpersonal relationships within your team. Resilience is a competitive advantage for entrepreneurs willing to develop it. Even the most effective leader can be stymied by team conflict or by the long-term effects of a precarious market.
A leader must stay calm and confident, even in the middle of a storm. You can develop your emotional capacity by surrounding yourself with people who pour into you and build you up instead of tearing others down. These people should be willing to tell you when you’re wrong and help you form an honest opinion of your strengths and weaknesses.
The Elevate capacity building framework is more than just a mechanism for personal development—it’s also a leadership tool that can help you better understand your team.
Once you have evaluated the four capacities in your own life, you can ask your employees to self-evaluate in each of these areas as well. Ask each person where they feel the strongest and where they need the most help. You can create custom development plans for each person based on their self-identified capacity-building needs.
However, it’s very important that you work through this framework yourself before leading your team through it. Employees can respect a leader who has identified and improved their own weaknesses and is honest about that fact, but hypocrisy in this regard will limit their enthusiasm.
Elevate by Robert Glazer has earned its place on my recommended reading list. Glazer’s approach is practical and actionable, giving you a system that you can start applying to your own life today. Many factors in business are outside our control, but by maximizing our capacity, we can make the most of what we can control.
Want to learn more about capacity building in your own life and business? A coach can help you evaluate the four capacities and help you overcome limitations. Fill out my contact form to schedule a free video call. For more great tips on leadership, entrepreneurship, and more, sign up for my email list to see all of my latest blog
Coach Dave
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In many family businesses, some relatives will expect a position, a raise, or a corner office simply because of their last name. This sense of greed in family business can significantly lower morale, especially when harder-working family members or long-time non-family employees watch someone else get promoted without putting in the work.
Worse, family politics might make refusing these requests feel impossible. Family business coach Pete Walsh states, “Many family businesses avoid clearly outlining roles and responsibilities because they somehow feel greater clarity and responsibilities might lead to greater accountability, which could lead to difficult conversations about performance.”
As soon as possible, ensure that you have clear, written criteria for every role at the company, including the skills and experience required. You can also create a performance rubric to determine what kind of effort deserves a merit-based raise. Then, be sure to apply those standards to family and non-family alike.
I have learned over the many years of running businesses that one of the biggest catalysts of team unrest is when someone perceives that someone else is being favored over them. Avoid this perception by carefully and fairly managing access and time with leadership.
One of the major family-owned business problems is that fewer than a third of family businesses survive the transition to a second generation, and even fewer make it to a third. The primary reason is a lack of documented succession planning.
Founders often delay naming a successor because they lack organization, put the task off, avoid difficult conversations, or think doing so feels like admitting their time is running out. A younger business owner might not think a succession plan is necessary until they’re older, not realizing there are reasons to clarify succession beyond natural death.
You should start succession planning years, not months, before a transition needs to happen. Identify potential successors early, give them real responsibility and mentorship, and document the plan so everyone in the business knows what to expect. An outside advisor can help guide these conversations to keep emotion from derailing what should be purely a business decision.
Founder’s syndrome shows up when the person who built the business struggles to loosen their grip, even as the company outgrows their ability to manage every decision personally. This is a common issue among all companies, not just family businesses. Business owners often have a hard time learning to relinquish control and delegate.
When every process, new hire, or strategy decision must go through the CEO, bottlenecks occur. This can stunt growth in family businesses and leave operations dangerously dependent on just one person.
When managing a family business, you must learn to delegate real authority, not just tasks, to other leaders in the business. Build documented systems and processes so the company’s knowledge doesn’t live solely in your head. A third party such as a business coach can help you see where your hands-on involvement is holding your business back.
One of the most common family-owned business issues is a lack of precise planning, which can be toxic to the business’s growth and prosperity. Regardless of who the leader is, that person needs to communicate often and clearly with the family members involved in helping make decisions and those who are “on the ground” about enacting the changes that are decided upon.
According to Dr. John A. Davis, a leading family wealth and business expert and respected Harvard University lecturer, it’s vital for family businesses to be well governed:
“Governance provides a broad sense of purpose or mission for the group and gives the group a sense of stability.”
Without stability, we cannot plan long-term. Family business systems have an enduring advantage over all other kinds of enterprise in large part because of their long-term goals, plans, and commitments. Without stability, you lose your built-in advantage. Without adequate governance, you don’t have adequate stability.
The family business system absolutely must be governed, and governed well, for success.
The business may not be a municipality, but it should be run like one. Proper business governance ensures that issues in family business are identified and solved, plans are made for the future, and that unity prevails. With governance, trust grows, and discipline is inherent. It means that everyone has a voice and an opportunity to participate in the business.
Whether due to disagreements about the company’s future, significant changes to internal policies or external product and service offerings, or difficulty influencing a family member, things can get sticky, and fights can break out. It’s almost inevitable that you’ll eventually have to deal with family business feuds.
Just as “drama” is wont to creep into close-knit business relationships, family businesses seem much more prone to this kind of trouble. Ensuring that everyone stays happy and that things don’t get ugly can be a job all on its own.
Family business fighting can come from several different sources, requiring a different kind of finesse. Longtime entrepreneur and business consultant George Isaac suggests establishing a governing arm and including a board of directors or advisors (one or a few, depending on the business size) composed of non-family members.
Isaac also suggests having specific policies and processes for dealing with challenges in family business inside and outside work. Often, home disputes don’t get left at the door and can wedge their way into the workday. It’s important to acknowledge this and approach each issue with an understanding of this fact.
Another of the most common pitfalls of family business occurs when technological changes or additions are met with disagreement. Changes suggested by younger family members can be met with opposition from mature incumbent generational leaders.
As the market continues to grow and change and as technology soars to new heights, it’s becoming more apparent that most family businesses unwilling to adapt are doomed to close their doors. While this isn’t always the case—take, for instance, companies that continue to operate on a cash-only basis and do not accept credit card payments—it rings true for most.
There’s certainly a time and a place for “early adopters,” but that doesn’t always need to be your business. Give new business technology time to mature and grow before adding it to your company. This will lead to more open feedback from other adopters, fewer “kinks” that need to be ironed out, and a smoother transition for your business from the start of the implementation.
If opposition leaders play a significant role in company decisions, talk extensively about the pros and cons of using new programs or hardware. Use all the information at your disposal to debate. If you’ve waited for innovations to mature, you’ll likely have more data and sound reasoning to support your side.
Often, the personality roles within family businesses follow the personality traits within the family. Outspoken individuals remain the most vocal in the enterprise and frequently hold more prominent roles regardless of how much they actively contribute or how well-suited they are for the position.
This can create an environment that is subconsciously hostile toward those individuals or one that operates in a constant cloud of negativity.
It’s challenging to separate business problems in family business from regular family problems, or to avoid using familial relationships to dictate how things happen within the company. Family relationships must be checked at the door despite these difficulties.
“Business as usual” shouldn’t revolve around anything but what is in the company’s best interest. Ensure that you strictly prohibit discussions about family matters during working hours and avoid discussing business topics outside the office. This will help keep things separated appropriately and maintain peace during tough times.
From the vantage point of non-family workers, there may be perceived favoritism among and between family members. When it seems like decisions are made at the dinner table, a non-family member might feel that there’s little chance for them to advance, especially if it means being promoted over a family member.
Outsiders may also feel like they need a stronger reason for company leaders to cut them slack or grant them favors. If it seems like family member workers are constantly let “off the hook” while non-family workers are not, it can spell trouble for family businesses.
Generate open lines of communication with all your team members—family and non-family—and be clear about expectations and goals for both the short and long term. Be fair and impartial in your treatment of all employees, and avoid invoking inside jokes or family history that would make other employees feel ostracised.
Paying family members in business can be an incredibly sticky situation. Some family members expect to be paid the same as higher-ups regardless of the role they actually fill, while others work long hours out of a sense of duty but feel underpaid. Left unaddressed, these feelings of resentment can do more damage than any external threat to family businesses.
Plan your compensation based on market rates for each role, not on standing within the family. Apply the same criteria to every hire and don’t let personal preference sway you away from sticking to the structure. Clear, consistent pay policies go a long way toward quashing the appearance of preference in family businesses.
Why do so many family businesses experience failure when the time comes to pass things on to the next generation of leaders?
Founders in family businesses often see their creation as their “baby.” Watching someone else come in and make changes – regardless of how minimal those changes may be or the fact that the person implementing said changes is a family member – can be like seeing their life’s work fall into ruin and take an entirely unrelated path.
Also, releasing complete control over business dealings may be difficult for these retiring leaders. Suppose they are concerned with what will happen to the company after they step down (as the vast majority will be) and how their legacy will play out.
In that case, it may be difficult or nearly impossible for them to psychologically separate their previous responsibilities from their new role as a mentor (or, in some cases, ultimately retreat from the business).
Talk openly and honestly about plans for the future. Who will move into new roles? Why are they qualified for those responsibilities? How and when will the founder step down? What role, if any, will they play as the business continues under the new direction of someone else? These are all questions that should have definitive answers.
Be clear about everyone’s role in the company and set specific guidelines on what abilities and strengths are necessary for each job so you can avoid ever needing to discuss controversial appointments or concerns about showing favoritism. Don’t be afraid to broach this subject and to discuss it often.
Family businesses are a great way to bring your loved ones closer and create a lasting legacy. By communicating effectively, being open to discussion, being upfront about roles and responsibilities, and actively managing family business pitfalls on and off the clock, you can lead a winning venture that you can pass on to future generations.
Are you dealing with challenging family business dynamics in your organization? A business coach can help. Fill out my contact form if you’d like to learn how to resolve your family business problems. For more great tips on leadership and navigating business ownership, sign up for my email newsletter.
Coach Dave
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An introvert is someone who tends to recharge their energy through time alone rather than time spent with others. Introverts usually prefer conversing with small groups of people or even one-on-one, rather than taking part in large, loud gatherings.
An introverted behavioral style is best described as:
An introverted behavioral style should not be mistaken for antisocial behavior or shyness. Although introverts don’t draw energy from social interaction the way extroverts do, many still enjoy socializing and can be very outgoing. They simply need time alone to recharge after being around other people.
Introverts and sales work together better than many might think, and introverts succeed in sales all the time. For introverts, successful sales depend on being goal-oriented, driven, and having a strong desire to be influential. Introverts who are highly motivated in this way can and will be very successful.
Introverts tend to think before they speak, which helps them ask better questions and spot problems others might miss. That depth of thought is valuable in sales, where understanding a prospect’s real need is what closes deals and builds lasting loyalty.
Trust is built through consistency, careful listening, and follow-through, not personality alone. An introverted sales rep is naturally wired for the steady, dependable presence that eventually builds trust. Prospects can sense when someone is paying attention to them. The feeling of being heard, rather than simply pitched to, is what turns a lead into a client.
Introverts are comfortable nurturing a relationship over weeks or months until it’s time to close. In complex sales especially, that patience pays off. The salesperson willing to wait for the right moment usually wins a deal that a rushed and careless competitor might lose.
Selling for introverts is about harnessing your superpowers. Sales for introverts can be challenging, as people skills often don’t come easily. However, many introverted traits can be incredibly helpful in sales.
People remember how well you listen far more than how well you speak, and many introverts are naturally good listeners. While extroverts often try to build rapport by talking, an introvert salesperson can let the prospect do the talking instead. Ask thoughtful questions, then listen closely to the answers. You will gain useful information to help you tailor your pitch.
An introverted salesman might feel a twinge of guilt about selling, as if they’re bothering someone or even manipulating them. Reframe this in your mind to see sales for what it really is: offering solutions to people in need. Seeing selling as helping takes some of the pressure off the situation and makes your process feel more natural.
Introverts tend to build fewer relationships than extroverts, but those relationships are usually deep and meaningful. In sales, that can be a strength. A handful of clients who trust you will outperform a long list of superficial contacts every time.
While networking for an introvert salesman can be outside their comfort zone, it can be done. The key is to be intentional about how you spend your energy. Mindlessly attending every networking event in town will drain your energy. Still, if you focus on one promising event instead, you can use that time to make meaningful connections without burning out.
Some sales environments are better suited to introverts than others. High-volume sales departments that reward constant hustle can easily lead to burnout. Instead, an introverted salesperson should look for industries where relationships and expertise matter more than sheer energy and output.
Soft skills like empathy, patience, and self-awareness matter just as much as pep in sales, and introverts excel in this arena. Lean into the aspects of your personality that already make you a trustworthy, thoughtful person rather than trying to emulate extroverted traits.
Group settings and large networking events can be draining for an introvert. One-on-one conversations are where you have a chance to really shine.
Before any meeting, do your homework. This will reduce the need to improvise or speak off the cuff. Research your prospect’s business, their industry, and their likely pain points. Practice your pitch until you know it by heart. Preparation means you can walk into the conversation already informed, rather than trying to think on your feet under pressure.
Introverts tend to be more organized than their extroverted peers, with greater attention to detail and a desire to do things right the first time. Personal organization is essential in sales, where you must stay on top of your leads, track meeting times and dates, and follow up. Master your CRM system and use it to your advantage.
Introverts might be quiet and thoughtful, but this also makes them sensitive to others’ thoughts and feelings. An introverted salesman might get a more accurate read on a potential client due to their self-awareness, which can better address their concerns and put them at ease.
Introverts can be highly effective salespeople. A business coach can provide specialized sales coaching tailored to introverts. Understanding behavioral styles and how they fit into vocations is a personal interest, and I would love to teach you more about them.
If you’re looking to succeed as an introverted salesperson, fill out my contact form and let’s talk about successful sales for introverts as they pertain to you and your team. For more leadership tips, sign up for my email newsletter.
Coach Dave
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Coaches and mentors are great resources for professional development. You might even consult both at different points in your career. However, there are a few key differences between coaching and mentoring, specifically regarding the focus, duration, and purpose of the relationship. Take the following into consideration before choosing a mentor vs. a coach.
A business mentor is an experienced professional in your field, usually one who is further along in their career than you and can give sound advice. A mentor is not paid; the arrangement is relationship-focused and long-term.
On the other hand, although you might become friendly, you will not usually have a personal relationship with your business coach. The coach is a paid professional whose sole focus is helping you address your opportunities to thrive in your business and career.
Mentors serve as role models who can offer wisdom and guidance based on their track record. Their inside knowledge can guide you as you strive for greatness in your shared field. You can schedule regular meetings with your mentor or keep them more informal, depending on your needs and their availability.
A business coach, on the other hand, does not necessarily need to be in your industry (though familiarity is a plus). A coach typically helps you set and achieve specific goals related to your career. If you suffer from impostor syndrome, are unsure how to set and achieve goals, or wish to develop your leadership skills, a coach might be right for you.
Your mentor can help you network, learn crucial industry skills, gain new insights, and ultimately become an expert. A mentor is key for navigating long-term career growth, and your relationship with them will hopefully last for many years.
Meetings with a business coach are structured around making measurable progress toward your objectives. While a business coach might not have experience in your industry, they will be adept at helping you overcome your inner struggles or any mental blocks that are holding you back.
We can sum up the difference between mentorship and coaching as follows. You should choose a mentor if you would like:
A business coach might be a better option if you would prefer:
Like any business relationship, mentoring and coaching each have their own strengths and limitations. Looking at the benefits and drawbacks of mentorship versus coaching side by side helps clarify which approach best suits where your business stands today.
Regardless of the differences between mentoring and coaching, the criteria for an effective coach vs. mentor are very similar. Look for someone who has:
A well-respected coach or mentor can help you grow into the leader you’re meant to be. If you have the time and the resources, you don’t need to choose just one. Opting for both mentoring and coaching in the workplace will provide you with guidance and perspective that will help you further your career.
If you want to learn more about mentorship versus coaching and other professional development topics, click here to sign up for my weekly articles about building your business. They are free, helpful, and time-tested. To take the next step with a business coach, fill out my contact form for a free video consultation.
Coach Dave
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]]>The post Creative Suggestions for Validating and Pitching a Business Idea appeared first on Dave Schoenbeck.
]]>Putting together a business idea pitch can feel exciting in the moment, but excitement alone won’t tell you if there’s a market waiting for you. You need to do some important work before you share your idea with potential stakeholders.
Validating a business idea is the process of testing your expectations to ensure there is market demand before you invest time and money into bringing your proposal to life. It’s a way to challenge your assumptions and assess whether your idea is viable using real data, not just your own gut feelings.
Over the years, when one of my clients was eager to test a new game-changing idea, I proposed that, at our next coaching meeting, they create a short pitch deck and then pretend to sell it to a banker or investor. I would play the role of the curmudgeonly banker and challenge their idea with rigor rather than their energetic, unbridled enthusiasm. This disciplined process always illustrated flaws, and when a good idea was simmered in reality, the end product was notably stronger.
Before anything else, you need to get clear on who you’re serving and the problem you’re trying to solve. If you can’t articulate why a customer would choose your product or service over the alternative, your idea isn’t ready yet. You need to clearly state your unique value proposition in a way that is easy for customers and team members alike to understand.
Product market fit validation isn’t something you can skip over. You need to talk directly to potential buyers and ask them about their pain points, what solutions they’ve already tried, and what they’d be willing to pay to solve the problem.
Business plan validation requires you to understand the landscape you plan to enter. Assess the market size, identify your competitors, and test your assumptions about how to generate revenue. Go beyond the surface research and really dig into who already owns this space and how they’re succeeding.
Before you go all in, build a basic version of your product to test with a focus group. For a digital product or service, you could build a landing page to get a better idea of demand as well as to gather data on your potential customers.
Once you’ve thoroughly tested your concept, it’s time to craft your business idea pitch. Building a sales pitch deck forces you to organize every element of your idea into a coherent story. Even if you’re not pitching to investors, creating a sales deck for your own reference helps you clarify the most important elements of your idea before putting it into action.
The Guy Kawasaki pitch deck framework is a great place to start. Kawasaki is an author and master marketer who got his start at Apple in the early 80s. Here’s his advice on crafting the perfect pitch.
The goal is to make your business idea pitch easy to understand by keeping it simple. The 10/20/30 rule is designed to do just that: your sales pitch deck should be 10 slides, 20 minutes long, and in size 30 font. Although some sales deck templates advise even fewer than 10 slides, you should usually not aim for more than that.
You might have a longer time slot than 20 minutes, but there are always delays or technical difficulties that can easily extend your presentation. Keeping your pitch short and sweet also allows more time for discussion at the end.
A 30-point font might seem excessively large, but a large font size prevents you from overloading your slides with information. It also ensures that everyone in the room can read your slides.
The first slide should include basic information such as your name, your company name, and your contact information. This slide sets the tone before you even start speaking, so keep it clean and use a strong one-line tagline to tell potential investors what you do at a glance.
Describe the problem or opportunity that your idea will solve. This should be grounded in a relatable story or concrete example rather than an abstract statement, since investors connect faster with a problem they can picture someone actually experiencing. Just keep it concise and don’t let your story run you off the rails.
Explain the value of the problem that you intend to fix. This is your chance to convey why your idea matters. State plainly what your product does and why it’s important enough for someone to pay for it. Include the results of any business idea testing you’ve already done.
Discuss the technology behind your idea. Diagrams, flowcharts, or other images are useful here. This is where you show the “secret sauce” that makes your approach hard to copy, so keep the visuals simple enough that a non-technical investor can easily follow the logic.
Explain where the money for your idea will be coming from. Be specific about your revenue streams and pricing, since investors are really asking one question here: who exactly is paying you, and how much? They want to be sure your company as a whole is financially sound before investing in any particular idea.
Show how you plan to reach your customers. Walk through the actual marketing and sales channels you’ll use to acquire them and what it costs to do so, so investors can judge whether your growth plan is realistic. If you have any strategies for going viral, this is where you can share them, though internet virality is not a perfect science.
Discuss your competitors and show how your product surpasses theirs. A simple chart works well here as a visual. The goal is to show what you do better than the alternatives on the market. If you can’t find any competitors, look harder. Your future customers are currently filling the void with something, even if it’s not a 1:1 comparison.
Describe the key members of your management team, including your board members if applicable. Highlight the experience and past wins that make your team credible, because investors often bet as much on execution as on the idea itself.
Include a three-year forecast with key metrics and dollar amounts. Base these numbers on defensible assumptions and be ready to explain exactly how you got each figure if asked.
Explain where you are currently with your idea and the timeline moving forward. Make note of any milestones you’ve already hit in terms of customers, revenue, or product builds, and be clear about what the funding you’re raising will actually be used for.
The bottom line is this: a rigorous approach to business idea testing will either give you the confidence to move forward with your sales deck or save you from a costly mistake. Either outcome is a victory. Use the idea validation process and the discipline of building an executive deck to see your concept clearly before you build and share your pitch deck.
Want to learn more about how to validate a business idea? Click here to sign up for my weekly articles on the keys to entrepreneurial success. If you need a business coach to help you achieve your goals, click here to schedule a meeting.
Coach Dave
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In all my years as a business coach, one truth never changes: your business is a reflection of its leader. If you want your team to meet deadlines, you have to meet yours. If you want your salespeople to follow up consistently, you need to model that same behavior. Self-discipline in business is what allows you to model the behavior you wish to see in your employees.
When employees see a disciplined leader, they hold themselves to the same standard. When they see a chaotic one, they mirror that too. Your behavior is one of the most powerful management tools you have.
When I was in my mid-20s, I learned the hard way as an emerging leader. I grossly underestimated how closely my team watched my actions, tonality, and body language beyond what I said out loud. I thought I was good at hiding my feelings. I was wrong then, and I have taught many others the importance of understanding that we are “always on stage.”
Time management and discipline are two sides of the same coin. All of the big ideas in the world aren’t enough to compete with an out-of-control calendar, misguided priorities, and a lack of focus. Procrastination is a major hurdle for business owners, preventing us from managing our time wisely. Without discipline in this regard, nothing gets done.
Financial discipline as a business owner is often the difference between a company that survives and one that doesn’t. Even businesses with strong revenue streams can collapse if the owner spends impulsively, fails to maintain reserves, or doesn’t review financial statements consistently.
Leadership and self-discipline are inseparable, because discipline in business management requires that you lead yourself before you lead others. That means making and keeping commitments, getting to meetings on time, following up when you say you will, and not letting the urgent tasks crowd out the important ones. Every time you say yes to: another meeting, another interruption, another customer exception, you are saying no to: strategy, leadership, planning, your family, and growth.
Self-discipline in leadership is something many business owners struggle to maintain over time. Once the excitement of a new goal wears off, the only thing left to get you to the finish line is a commitment to disciplined behavior, regardless of how inspired you feel on any given day. Remember that discipline reduces stress, uncertainty, and pressure.
Entrepreneurs can’t rely on willpower to maintain business discipline. Willpower is a finite and inconsistent resource. Instead, focus on building structured habits so the right behaviors happen automatically, just like brushing your teeth. Here are my top tips for building that kind of discipline as a business owner:
What habit is costing me the most money?
What promise do I repeatedly make to myself but fail to keep?
Where am I making excuses?
What would my team say I am most disciplined about?
What would my team say I am least disciplined about?
You don’t build discipline one big decision at a time. You build it one ordinary day at a time.
If you want to develop more self-discipline in leadership, a business coach can help. Click here to schedule a free video call with me, and we’ll start aligning your daily habits with the leader you want to be. For more tips on personal development, sign up for my email newsletter to get weekly blog posts delivered to your inbox.
Coach Dave
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One of the biggest barriers to local business success is a lack of visibility. Business owners work tirelessly within the four walls of their business, but aren’t showing up where their customers live, work, and play. As people buy from businesses they recognize and trust, you need to become part of your community’s fabric to win them over.
Sponsoring local events, joining the chamber of commerce, supporting youth sports leagues, and participating in community festivals are all ways to get your name out there when it counts. The most profitable local businesses tend to be the ones whose names are all over town.
Word of mouth is an incredible resource for local businesses. Most owners wait and hope that referrals will happen naturally, but there’s a better way: just ask.
Train your team to ask customers to leave reviews after each positive transaction. Ask your best customers directly if they’d consider referring their family and friends. Create a system that rewards referrals, whether with a coupon or another small incentive. Eventually, your referral system will run on autopilot.
If you’re ignoring your Google Business Profile, you’re leaving your customers in the dark. Your profile is often the first thing a potential customer sees when they look for local businesses. Updated photos, accurate hours, detailed service descriptions, and consistent local business reviews all signal to Google (and customers) that you’re open, active, and credible.
If you don’t claim and update your profile, someone else might. Your competitors and customers can suggest edits to your local business profile if you don’t own the information. Inconsistent information can cause your ranking to drop in Google search results, so take this seriously if you want to be seen.
Average service creates forgettable businesses. If your customers can’t tell the difference between you and your competitor down the street, price becomes the only distinguishing factor in their minds, creating a race to the bottom that no one wins.
Try to deliver an exceptional customer experience worth talking about. Focus on consistently delivering on response time, reliability, atmosphere, quality, and friendliness. Delighted customers will return again and again, and best of all, they will tell their friends.
When I was a younger man, I managed retail drug stores in inner-city, urban neighborhoods. On many days, my goal was to find and field enough people to handle customers and just keep the business operating. That was survival and a long way from pleasing my customers. Later in my career, I became fascinated and focused on pushing the “guest” experience to an extreme. I learned that when you delight your clients, you will be rewarded with amazing loyalty and financial success. I love the phrase: “the vibe creates the tribe.”
It’s easy to see how a small business owner who’s overwhelmed might neglect the art of the follow-up, but this is how you keep yourself memorable. Most businesses are slow to return calls or neglect leads altogether, forgetting to check in with customers and failing to ask for repeat business.
A few simple systems can help you stay on top of your follow-ups. Implement a rule that all calls must be returned within 24 hours. Send automated texts or emails to customers for appointment reminders and special sales. Mail out promotional materials to customers you haven’t seen in a while. You don’t need flashy marketing to make this happen, just persistence and care.
At a business coaching workshop I attended years ago, I remember marveling at a chart that explained why customers stopped frequenting a business. The conclusion was that 65%+ leave a business because of “perceived indifference.” It’s not that you did something wrong; it’s just that you didn’t care enough, and they felt your indifference.
Business decisions must be based on data, not just your gut feeling. At the very least, you should find and use software that tracks leads, conversion rates, marketing campaigns, social media stats, purchase patterns, and customer retention.
What gets measured gets improved. Start out simple by choosing three or four metrics that directly reflect whether your business is thriving and review them monthly, if not weekly, without fail. The owners who build the most successful local businesses are the ones who make evidence-based decisions.
As a local business, your reputation precedes you. If you are known for being an amazing workplace that treats employees well, your colleagues will likely tell their family and friends. If you don’t, however, word of your failings will travel twice as fast.
Address conflicts with respect and dignity, pay a fair wage, and be transparent about what employees can expect when they come to work for you, and never allow them to feel that you give preferential treatment to your favorites. You can’t guarantee that your employees will speak well of you, but you can maintain your integrity and build trust with your team and in the neighborhood.
Local business success is not usually glamorous. It’s a result of trust, visibility, consistency, and relationships built over time. These things might not be flashy, but they are precisely what give you a long-term advantage in your community.
If you’re a CEO or entrepreneur who’s ready to start executing a real local strategy, I’d love to help. Click here to schedule a free video call with me to discuss your local business struggles. For more tips on growing your local business, sign up for my weekly articles on the keys to entrepreneurial success.
Coach Dave
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While it’s hard to pinpoint an exact definition, the term “organizational health” generally refers to a company’s ability to operate day-to-day, cope with upheaval, and adapt to change. A few key indicators of a healthy organization are low turnover, high engagement, easy collaboration, and employee satisfaction.
The definition of organizational health, however, goes beyond just your employees’ happiness. Healthy organizations are ones where people at every level understand the company’s goals, communicate openly, adapt to change, and feel secure enough to raise concerns or contribute ideas.
Unfortunately for business owners, growth is one of the biggest threats to organizational health. The systems that work well when you have ten employees start to break down when you have fifty. Communication gaps appear, processes don’t scale well, and values become obscured the further down the line you go.
Declining organizational health is rarely obvious at first. More often than not, it shows up in small hiccups that might be easily explained as a one-off. Perhaps meetings feel less productive, new hires are confused about their roles, and new bottlenecks appear. When these symptoms persist, you know you have a problem on your hands.
Other signs of declining organizational health include miscommunication or emerging hostility between teams, resistance to new initiatives, declining participation, and a lack of open employee feedback. It’s a red flag when your team either isn’t comfortable or doesn’t care enough to raise concerns.
During my many years as a Business Coach, I have observed multiple flare-ups in businesses where someone on the team felt that a teammate received preferential treatment from the leadership team. While not intended by management, this seemingly small affront quickly and significantly escalates, eroding your healthy organization. Be very careful that everyone is treated the same way.
Healthy communication in organizations doesn’t happen by accident. Companies with clear communication establish regular routines, such as standup meetings, regular check-ins, and written updates, that naturally keep everyone on the same page.
The goal is not simply more communication, but better communication. Making sure everyone knows who needs what information and by when is half the battle. Don’t waste everyone’s time with long meetings that drag on when quick, succinct updates would do the trick.
Your business’s values are a framework for decision-making. When your team understands and internalizes your core values, they can act with autonomy in their role without needing to get approval for every little detail. This is because their internal compass has been calibrated to the same standards as the rest of your organization.
Organizational health depends on clearly defined values that are communicated at every level and modeled by those in management. As your business scales, living these values should be contagious, and teaching them should be a top priority.
No practice does more for the health of the organization than creating an environment where people feel safe to speak up. Psychological safety, or the belief that you won’t be punished for raising a concern, asking a question, or admitting a mistake, is the foundation of most high-performing teams.
It is my professional opinion that our role as leaders is primarily to create, nurture, and enforce the organization’s mission and vision. I work with a very successful design firm CEO who has a very specific idea of how her prospects and customers should feel and experience working with her firm. Her vision is not negotiable, and her teammates know it thoroughly. The clarity of her expectations builds organizational health.
Conflict is inevitable in any organization. The question isn’t whether it will happen, but whether you have the systems in place to handle it constructively. Healthy organizations address friction before it turns into resentment. This means giving leaders the tools to have hard conversations with their direct reports and modeling how to disagree respectfully.
When you introduce a new process or system, some resistance is to be expected. Your employees will naturally have questions about big changes and might be hesitant to accept major shifts that impact their day-to-day life. You can manage this resistance by explaining the changes, inviting employees to give feedback, and using their input whenever possible.
When leaders avoid tough conversations, the problems add up. On the other hand, when they handle conflict with transparency and respect, they build the kind of trust that allows a team to withstand challenges. Employees look to their leaders for guidance on how they themselves should act, and it’s important that your management team is aware of that responsibility.
The same qualities that make an organization healthy, like clear communication, psychological safety, and solid values, can help a business overcome disruption. Establishing these priorities before they’re necessary will help you prepare for future upheaval and obstacles.
Healthy organizations attract strong talent because a functional office environment is worth its weight in gold. Capable people want to work at a business that respects its employees, provides meaningful work that’s connected to high-level goals, and offers opportunities for growth. When people trust their leadership and feel connected to the mission, they tend to stay a while.
Innovation happens in environments where people aren’t afraid to be wrong. The culture of psychological safety that is necessary for organizational health is also the condition that enables employees to try new things and share bold ideas.
The most successful companies that I have coached have similar attributes. One trait in particular is that employees feel supported when experimenting with different approaches and techniques. These businesses allow testing, challenging assumptions, and pushing against crowd-think.
Organizational health is a discipline that must be consciously maintained for as long as you’re in business. The companies that scale well and stay strong over time are the ones where leaders treat internal health as a priority, not an afterthought. Clear communication, strong values, and psychological safety are the infrastructure of any sustainable, long-term growth.
If you’re ready to get serious about your organizational health, a business coach can help. Fill out my contact form, and let’s talk about how to prioritize organizational health and safety in your business. For more tips on leadership, scalability, and more, sign up for my email newsletter to have weekly blog posts delivered straight to your inbox.
Coach Dave
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