BY CHRISTEL ALLISON
Deciding to start your own business might not be so difficult if you have the right team to work with you.
Angie Fairbanks, an international speaker and chief operating officer of ActionCOACH, led a seminar on steps to building a winning business on March 10 at the Holiday Inn on Fairway Road in Kitchener.
ActionCOACH is a business consulting firm that has branches in 61 countries and coaches over 15,000 businesses each week. Their vision is “world abundance through re-education.”
At the seminar, Fairbanks worked to re-educate business owners and enthusiasts on how to build a team that helps them grow their dream business She started her 90-minute coaching session with a question.
“What is your desire?” she asked.
According to her, that is one of the things business owners need to know. Your desire is your burning passion. Being aware of what you desire directly motivates you to get your business to run to where it’s efficient enough for you to start ticking things off your bucket list.
However, a team is an important part of a business because if you don’t have one you can rely on, you’re constantly hovering over your business and you don’t get the opportunity to live the life you actually want.
“Not everyone wants 100 people on their team and that’s OK,” Fairbanks said. “The important question is how does your business look when it is finished? Is it an exit strategy?”
As a business owner, you need to constantly challenge your brain.
“It is important to learn before you earn,” said Fairbanks. “It’s an important part of self-development as a business owner.”
Challenging yourself also includes replacing your to-do list with a to-achieve list and getting rid of the idea that you can multitask because focusing on a single task yields true productivity.
“You lose seven minutes of focus every time you switch tasks,” Fairbanks said.
Finally, the end goal of a business is seeing your profits. Fairbanks believes every business owner must know and understand their numbers in order to be in control of the money they make.