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Overcoming Business Obstacles

Monday, November 26, 2012   By Mike Reddy

 

Obstacles-they are just part of doing business, but sometimes seem never-ending. Piling up and suffocating businesses before the business has a chance to breathe.

But from a business coaching perspective, overcoming obstacles builds company culture, breeds character and ultimately separates the wheat from the chaff.

Problems will be a regular part of life for any business; it is how you choose to handle the problems that will define your future.

Many choose to keep problems within the higher echelons of the business, even when the business is very small.

As a business coach I have learned the value of being open and honest when approaching a problem. Sweeping it under the rug will simply allow it time to grow.

But don't keep the issues between you and your business coach.  Open the issue up to team members at all levels to debate the issues so they can come up with workable solutions.

It may sound hokey to some, but creating an atmosphere of positive thinking can have a huge impact on how your team handles obstacles. Be a business of 'yes' people, encouraging and innovating at all levels.

Donald Trump lives by the mantra "Never Give Up". For those of us not yet millionaires, a more realistic mantra might be "Keep Trying Regardless". Incorporate this into your business' culture.

Use obstacles as training tools- always search for the lesson to be learned. Flip obstacles into inspirations, offering positive feedback that can be used to improve operations.

The benefit to being a smaller business is the ability to address issues quickly. Take advantage of this and work through problems before they have the opportunity to impact on a larger level.

Approach problems with baby steps; breaking them down into accessible and manageable pieces.

Delegate the pieces among your team to form a creative and multifaceted solution.

Employ the strategy of responding by managing rather than instinctively reacting. Often an impulsive, knee-jerk reaction can have undesired results.

The best response calls for careful consideration of the options and an examination of the origins of the problem. When a problem is 'dug up by the roots', it is less likely to occur again.

Flexibility and long-term vision are imperative in successfully overcoming obstacles.


Mike Reddy is a Chartered Accountant, business coach and advisor helping businesses in Sydney, Melbourne, Brisbane and Gold Coast to easily increase their profits and cash flow. He is currently President of the North Sydney Chamber of Commerce, a Regional Councillor for Sydney North East and a member of the Institute of Chartered Accountants Sydney leadership team. As well as advising businesses, Mike presents business development seminars and webinars and is regularly contacted by the media to comment on small business matters. You can connect with him on Facebook, Twitter and Google+.