`Business Barometer’ Points to Specific Behavior Modifications for Local Companies
Fort Worth, TX – A majority of U.S. small business owners have changed the way they think about and operate their companies as a result of the recent recession, according to a survey conducted by The Growth Coach, a business coaching franchise system which serves several thousand small business clients annually in more than 150 markets across North America.
Tim Fancher, owner of The Growth Coach franchise in Fort Worth, recently participated in the ‘Business Barometer’ survey, a study completed by 40 percent of the business coaches (Growth Coach Franchise Owners) across the country. The Growth Coach corporate headquarters conducts the survey quarterly to capture a snapshot of the “economic mindset” of the thousands of small business clients their coaches serve.
Based on survey responses, 95 percent of business coaches, including Fancher, reported that their small business clients (defined as less than 100 employees) have made overall expense reductions, while 80 percent implemented a workforce reduction and/or a hiring freeze.
“Small business owners in Fort Worth and the surrounding areas are continuing to search for ways to manage their businesses and lives as they want greater success and fulfillment,” said Fancher. The recession has created humility among small business owners and self-employed professionals and it has opened up their minds, making them more receptive to working with business coaches to grow their businesses and stay ahead of the competition.”
Other post-recession behavior modifications were highlighted. Another 80 percent of overall survey respondents reported that their small business clients were now more focused on achieving better results and receiving a higher return on investments (ROI). Owners are questioning every expense and demanding better ROI validation before spending their cash.
Other indicators that small business owners have learned their lessons, modified their mindsets, and implemented noticeable changes to their day-to-day business operations include:
• Wiser sales and marketing investments (77.5 percent)
• Better focus on all-around productivity (77.5 percent)
• Better budgeting and planning process (70 percent)
• Changes to leadership and management approach (67.5 percent)
In addition, 85 percent of business coaches surveyed including Fancher, reported feeling that the recession has fundamentally changed the way their small business clients view and think about their businesses, while 75 percent believe the recession has had a positive effect on the way their clients now think about and operate their small businesses.
The Growth Coach utilizes its signature Strategic Mindset® group coaching process, one-to-one coaching, telecoaching, and other related services to help clients reach success in business and in life. All initial coaching services come with a 100 percent money-back guarantee. The coaching process helps clients gain clarity, strike a balance between their personal and professional lives and close the performance gap with ongoing action plans and accountability. For more information from the local business coach, please e-mail at T.Fancher@TheGrowthCoach.com, visit on-line at www.TheGrowthCoach.com/tfancher or call at 817-301-9982.
About The Growth Coach
Founded in 2002, The Growth Coach is the only pure business coaching franchise system with the single purpose of helping drive the success and balance the lives of business owners. Their goal is to help clients gain greater focus so they can work less, earn more and enjoy more fulfilling lives. Clients include small business owners, franchisees, self-employed professionals, high-end sales and financial services professionals and managers from businesses of all size. Through an expanding national accounts program, The Growth Coach serves franchise systems, dealer networks and associations. With a presence in more than 150 markets across North America, The Growth Coach encourages diversity within its franchise system, as well as the development of small business and franchising worldwide. Currently, The Growth Coach is a member and/or affiliated with the following professional organizations: International Franchise Association, SBA Franchise Registry, VetFran, Minority Fran and is listed in Bond’s Minority Franchise Guide, 2010 AllBusiness.com AllStar Top 300 Franchises, and Entrepreneur’s 2010 Franchise 500®. For more franchise opportunity information, visit www.TheGrowthCoach.com.
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