Leveraging Your Business for Success

Posted by Chuck Kocher
On August 2, 2011

We live in a competitive business world. And sometimes there’s not a lot that separates us from our business competitors. That’s where leverage comes in. Great companies learn how to leverage the resources they have—and do more with less. There are four key areas business can take advantage of in order to accelerate past their competitors.

Systems and Processes: Sometimes this involves making the most of the technology at your disposal. Sometimes it means writing down and adhering to the right process so that you’re not “reinventing the wheel” every time you do something.

Marketing: Great companies take advantage of marketing opportunities. They do the right kind of marketing, they do the right amount marketing, and they track their results so that they can repeat what works—and cut out what doesn’t.

Finance: Great companies leverage their finances. If you figure out how to get cash into your business faster, that gives you an advantage.

People: Hiring good talent and taking the time to adequately train them pays big dividends. Personnel decisions aren’t just about putting bodies in the seats. It’s about hiring the right people to put in those seats and then making sure they are properly trained and equipped to deliver outstanding results.

How can a business coach help in those areas? One of the advantages that an outside coach has is the ability to apply dispassionate logic to these situations. There are often emotions that accompany inside relationships and interactions. An outside business coach is able to be a bit more objective, since he doesn’t “have a dog in the fight.” He can look at your systems and processes, your marketing, your finances, and your personnel without worrying about stepping on someone’s toes.

Are you getting the most out of the resources you have? That could be the competitive advantage you need to stand out as a great company among your good competitors.