Thursday, May 3, 2012

Stand out!

Posted on Thursday, May 03, 2012 by International Coach Federation

Try doing something really good, and then keep talking about it, a famous Public Relations specialist once said. Concept which is frequently applied in business, where most leaders are interested in collaborating with famous companies and successful people.

I have always enjoyed coaching entrepreneurs; they have the ambition and energy to establish new records. The term entrepreneur is defined as a person who is willing to build an enterprise, a person with a dynamic character and a leadership style that involves taking risks or new opportunities for development.

Lately, I have been working with numerous entrepreneurs, from different cities and I couldn’t help but notice that most of them are highly influenced by the financial approaches and keep investing a lot of energy on controlling the cash-flow, their employees or how to make more money…It is well known that people working with finances keep telling entrepreneurs that they take risks beyond their financial power without rigorously calculating their possible win.

The two approaches however, are not contradictory (the entrepreneur approach and the financial one), but complementary – the dynamic activity of an entrepreneur is focused on developing his business by using a financial approach, centered on the return received from that certain business. But this can only lead to fights for power or influence.

In general, during moments of crisis, finance people stay in control by using a defensive strategy, while in times when opportunities occur, entrepreneurs rely on an offensive strategy – taking risks in order to get rich.

But leaders, who inspire people to excel, come more from the entrepreneurial field rather than the finance field.

This is how I met Steven, an entrepreneur who developed his business for more than 5 years on the market, but who could never tell whether that business was running good or bad. Actually, it was going nowhere. Since the economic crisis, Steven’s best adviser was his accountant – who always managed to scare the new marketing and sales strategies out of him. His greatest challenge was to stand out and show everyone that he can face the market’s requirements and can bring performance to it. In other words, to build an image, a reputation, even if this can hardly be achieved without expensive investments. Steven was more of a defensive entrepreneur. He thought there was nothing he can show in such times of crisis. But he thought that only if he could find that certain secret or type of service that could make him stand out of the crowd, then things would run much easier.

- How could he find that secret?

Marshall Goldsmith described, in one of his articles about entrepreneurship that one of the smallest construction businesses from the three bidders that were trying to buy a certain health project managed to win the auction by publishing the fact that it was the only one who employed the most people in the area. So without being famous, the business could build a reputation by using an unknown advantage that was given to the market. Steven began asking his clients why were they working for him and what kind of benefit did his business bring to them. It was then when he discovered his true business reputation and had the courage to stand out and bring new clients. He didn’t hesitate and started taking action!
Rodica Obancea, ACC

You may build success using the things you know very well and then start promoting them.

Rodica Obancea, ACC, is passionate about change, emergence, living systems. She works within business environment, with managers, teams for achieving ambitious results. For more information, visit www.successcoaching.ro.

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