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5 Types of Business Knowledge You Can Use to Solve Problems

April 2016 – by FocalPoint Coaching

You won’t find any group of people who respect business owners more then business coaches do! The reason for this is business coaches respect the firsthand knowledge business owners have of every aspect of their businesses – from the people who work for them to the processes that help them deliver their products and services.

Still, that amount of knowledge can lead to stress and frustration. The better you know your business, the more you notice what’s not working the way it should. That’s why Brian Tracy’s style of business coaching leverages your own ability to see those problems. Our FocalPoint Business Coaches work with you to pinpoint the bottleneck and develop a solution.

Here are 5 types of business knowledge that can help you see problems – and look for the solutions.

Knowledge of your organization

As a business owner, you should know how every component of your business fits together. From your production department to your financial experts to your salespeople, every group contributes its own kind of work to your company’s overall goals. Understanding how each section of your business moves you toward those goals can help you restructure areas of your business for greater efficiency, and redesign the tasks each group specializes in, in order to work around roadblocks your business is facing.

Knowledge of your people

You should know why every one of your employees is working for you, what they do, and how they’re necessary to your business. Hopefully, you haven’t just been hiring people without calculating exactly what value they’ll be adding to your organization. At the same time, it’s important to see each employee not just seen as an asset, but as an individual with dreams and goals, and with skills and potential that can be unlocked to solve problems and increase the value of your company as a whole.

Knowledge of your processes

Here’s the real nuts and bolts of your business – the means by which you manufacture products, provide services, and deliver your offerings to customers. A solid understanding of these processes can help you eliminate inefficiencies in your manufacturing or delivery systems, innovate new ways to deliver your products or services, and think up new ways of making your processes sleeker, smoother, and more effective at generating profits.

Knowledge of your market

It’s crucial to know all about your competitive landscape – not just who your competitors are, but how they differentiate themselves in the marketplace. This will help you figure out what makes you different from the competition, so you can use those key differences in your marketing. You should also stay on the lookout for effective marketing – from advertising and promotions to sales and customer experiences – and look for ways to adapt those techniques into your own market strategy.

Knowledge of your customers

Not every business owner knows exactly who their ideal customer is – but you should. By now, you should know where this person lives, what they enjoy doing, what they do for a living, and why they buy products in your category, as well as why some of them by from your competitors instead of you – so you can target them based on all those traits. On an individual level, you should be recognizing your highest-value customers, and cultivating stronger relationships with them.

Once you’ve acquired these 5 types of knowledge about your business, this deep understanding of your organization, your people, your processes, your market, and your customers – you’ll start to see the solutions you’re looking for.

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Brian Tracy

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  • Your Online Reputation Can Launch or Torpedo Your Business
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Articles

Teachings you can implement immediately in your business, career or department

7 Secrets to Success

By Brian Tracy, from Entrepreneur Magazine

Ever wish you had a cheat sheet for starting a great business? Icon Brian Tracy's 7 core principles are as close to it as you can get.

There are seven essential principles that you must practice as an entrepreneur throughout your business life if you are to achieve maximum success. They have been taught and repeated in thousands of books and articles over the years, and here they are.

Download Full Article

Accessing your Intuition

By Brian Tracy, excerpt from Entrepreneurial Success

It has been said that men and women start to become great when they begin to listen to their inner voices. Your intuition is your direct connection with infinite intelligence. Intuition is so powerful that it has been studied and written about by the greatest men and women of history for thousands of years. When you begin to use it regularly and systematically, there is virtually nothing that you cannot accomplish.

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The 7 P's of Marketing

By Brian Tracy, excerpt from Grow Your Business

Take charge of your marketing efforts and beat the competition with this simple formula.

Once you've developed your marketing strategy, there is a "Seven P Formula" you should use to continually evaluate and reevaluate your business activities. These seven are: product, price, promotion, place, packaging, positioning and people. As products, markets, customers and needs change rapidly, you must continually revisit these seven Ps to make sure you're on track and achieving the maximum results possible for you in today's marketplace.

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EBooks

FREE Ebooks in their entirety! Learn, enjoy, adapt and implement.

Power Networking by Brian Tracy

Your ability to network effectively throughout your career can help you to be successful as much or more than any other single activity.

  • You will meet more and better people who can help you, and who you can help in return
  • You will get more warm leads and warm calls versus cold leads and cold calls to sell to in your business;
  • You will get more and better referrals to better prospects and go in with higher levels of credibility
  • You will get better jobs at higher pay, and be promoted faster
  • Overall, as a result of networking effectively, you will become a more important and influential person in your business world

Download Full Ebook

Turbostrategy by Brian Tracy

In the pages ahead, I will show you how to turbocharge your business quickly, increasing sales and revenues, cutting costs and boosting profits by applying the best techniques and strategies ever discovered for operating a successfulbusiness, in any economy or under any competitive conditions. You will quickly learn a series of practical, proven ideas, methods, and techniques usedby all successful companies that survive and thrive in tough markets.You will learn how to clarify your vision, values, mission, purpose and goals for your company, and how to use this increased clarity to achieve greater revenues and profitability in the months ahead.

Download Full Ebook

Create Your Own Future by Brian Tracy

Peter Drucker wrote, “The very best way to predict the future is to create it.”

Everyone wants to be happy, healthy, popular, prosperous and successful in whatever they do. But the only way for you to achieve and enjoy all that is possible for you is to create your own future. And the good news is there have never been more opportunities, in more different areas, for you to fulfill your dreams and goals than there are today. Your chief aim in life should be to take full advantage of everything that your world has to offer.

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Assessments/Questionnaires/Calculators

Strategic Planning Questionnaire

Your ability to think, plan and act strategically will have a greater effect on your sales and profitability than anything else you do. Very often, a single change in your activities can lead to a major difference in your results.

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Business Assessment—Reasons for Success and Failure

There are specific reasons for business success and for business failure. The greater clarity you have regarding these measures in your business, the better decisions and actions you will be able to make and take. By analyzing and comparing your business against the reasons for success and failure, you will gain key insights necessary to improve your sales and profitability.

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Management Skills Assessment

Why are some managers more efficient and effective than others? Why do some managers build greater teams, departments, and companies and produce more outstanding results than others? The difference between top managers and executives and average managers is almost always knowledge and skill. to improve your sales and profitability.

Download Assessment