Business Coaching

Gordon Ramsay has experience with business coaching.

Business coaching has actually helped make chef and TV personality Gordon Ramsay a star.

How? Let’s examine how he’s used business coaching to catapult his fame.

Before his show “Hell’s Kitchen,” Ramsay had a show in the U.K., “Kitchen Nightmares,” where he helped restaurants that were in danger of closing. He visits the restaurants in danger, sample their wares, meet the restaurant’s staff and management, watches them in action, and then synchronizes a plan to help their business. Within a week, everything about the restaurant changes: the decor, the menus and staff are all switched up. And in the end, it proves to be for the best.

Ramsay obviously is skilled in business coaching, because what he recommends the restaurant to do always saves the business at the end of the show.

Business coaching provides an alternate viewpoint and fresh, new ideas and solutions to problems, issues and challenges. “Kitchen Nightmares” is a testament to business coaching and how it can work.

When business coaching works so well primetime TV in the U.K. fashioned a show around it, don’t you think it’s time to find out how business coaching could help you and your business?

Knowing your business' numbers is very important.

Any Business Coach knows that knowing your numbers is a necessity to survive when running a business.

Do you know your numbers in your business?

If you don’t think knowing this information makes a difference in business, it does. It can mean the difference of making more profit. Knowing your conversion rates is essential. Think about doing it in various steps:

You need to know your numbers for every step of the sales process.  For example, in a retail fashion store, getting customers in the store is one thing, starting a conversation is another, getting clothes tried on, and so on …

Do you know it for each and every sales person at every stage of the process ?  Dale might beat Sally, but Helen beats Dale, and all at different stages of the sales process, so they can learn each stage from each other.

Do you know your conversion rates for each marketing medium.  As in, do you know what the rates are for Yellow Pages V Referrals, not just think you know, but actually know.

How much do customers spend on the initial transaction? How much are they worth over their lifetime of buying from you?

How many referrals do you get from each marketing medium and from each salesperson, and so on?

Is this a lot of work?   Yes…but it’s worth it.

Imagine you knew that every $1,000 advertisement bought you 100 leads and 20 sales of $500 each.  How often would you invest $1,000 to make $10,000? What if they came back for three years on average and spent another $2,000 on average?

So, it’s work, and it might be hard work, but it’s much better to do the work than struggling to pay the bills because you don’t know your numbers.

If you’re struggling with keeping track of your numbers like this, perhaps a business coach could help. See what a free business coaching session can do for your business.