Owner To Owner Podcast

Geoff Hetherington Founder of Elite Business Institute talks about how owners can utilise strategy and profitability coaching to improve the performance of their small business.

Episode Summary

Geoff Hetherington Founder of Elite Business Institute coaches business owners. He teaches them to build their business so that it supports their lifestyle. We talk about some of his most important strategy and profitability coaching lessons, as well as the broader advantages for business owners when they have a coach.

Episode Notes

@Geoff Hetherington teaches business owners #owners to build their #businesses around their life so they stop feeling like an employee & they live on their terms while making more money, have more fun, and spend more time with those that matter most.

Geoff openly shares how his work experience in a wide array of industries that have enabled him to identify the #peopleskills need in successful businesses. 

In our discussion we cover;

• How to structure your business so it is like a real business and less like a job
• Why teaching business owners to structure their business around their life has allowed them;
  • to feel less like an employee and more like a boss; 
  • live on their own terms; make more money; 
  • have more fun; and
  • spend more time with those who matter
• How to go about uncovering where opportunities are in a business
• Why it can make so much sense to engage with a #businesscoach and its benefits
• Understanding when to seek coaching for your business
• How ‘egos’ can be the biggest blockage for reaching out
• The importance of being able to acknowledge that despite them doing their best as a business owner sometimes things just do don't work they way they should
• How a coach can be a “fresh set of eyes” that can help understand what's need to make a business more successful
• How effective coaching can move owners away from thinking their only option is to sell 
• Why it is so important for business owners to understand their numbers
• How revenue, capacity and costs are the three macro levers of business and why these are important in addressing in order to improve your businesses structure
• Understanding #exitplanning as something that is not necessarily always something that you do pre-selling
• Why effective business mentoring and coaching needs to include;

1. The technical aspects, and also
2.  Support, understanding and empathy for the business owner

• How word of mouth can be the best platform for finding a trustworthy and beneficial business mentor and coach