Reducing Corporate Costs Won't Help Growth, Says Top Business Coach

RENO, NV, February 22, 2011 (Press-News.org) With both Round Table Pizza and Borders filing for bankruptcy this last week, business expert Peter Williamson is encouraging more businesses to consider other avenues besides reducing corporate costs to avoid closures.

"All the top businesses in this country in the Fortune 500 group have business coaches, and they have them because they need an outside set of eyes to really understand how to gain profits in their industry. If a company is heading for trouble the blame can't be placed just on the economy or poor sales. They have to examine why they have poor sales, and what to do about it. Unfortunately, too many businesses just close company stores and ask for lower rents. You can't cost cut your way to growth," says Williamson, the ML for ActionCOACH California.

Says Williamson, "Companies close for many reasons: high debt, mismanagement, poor sales tactics, poor team members, loss of confidence in their skills, poor product quality; and some become redundant in the industry or are unwilling to change with the times, but all of these factors are something that a business coach can work on with the business or franchise owner to fix. Filing for bankruptcy should be the very last route after all the options have been covered."

What are 5 ways to get your business back in the black?

1) Follow every lead. Companies with billions in reserve can afford to let one or two sales leads slip. You can't. From now on, all your customers just became family.

2) No more sitting around waiting "for the economy to get better" or for "the recession to ease up." A recession will affect you just as much as you let it.

3) Are you providing the kind of customer service that exceeds expectations? No? Well, you are as of right now. As I said above, your customers just became family. Before long they'll start recommending you to everyone.

4) Make sure your top employees know how appreciated they are. Give your sales team EVERY resource they need.

5) Are you getting the kind of advice you need--when it counts? A business coach may have been in your shoes--get a third set of eyes to help!

Peter Williamson is the ML for ActionCOACH California. For more information on business coaching call (650) 302-3565 or visit: http://www.actioncoach.com/peterwilliamson or http://coachchronicles.squarespace.com/.

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