From Running 1 Biz to Owning 3 Enterprises
A Managing Partner of a Company sought coaching for him self and his core team. During one of the initial sessions it was brought to my notice that they had won an award in the previous financial year and that this year they had no hope of winning the award as they were hopelessly behind target and we were just 6 weeks from the end of the financial year.
There and then, I got them to list down all the projects that were there in the pipeline. I next got them to estimate the project cost for each. The projects were then prioritized. I then got them enrolled into individually taking on responsibility for securing the contracts to specific projects; so that it was clear who was working on which project and no project was left out.
The progress was monitored over the next few weeks. When the announcement was made they were amazed to know that they had won not 1 but 2 awards that year: One by the Projects Division and the other by the Services Division!
With intermittent coaching, they almost doubled the company’s turnover for each of those 3 consecutive financial years. And yes, the company won awards for every one of those 3 financial years.
Whether you say you can or you can’t – either way you will create your reality
There is more to this story.
This MD got enrolled into the distinction between business and enterprise. He promoted his long-service, hard-working General Manager as Executive Director and handed over the day-to-day operations to him. Over a period of time, he eased himself out of the negotiations and the day-to-day operations and issues. With the quality time he now got, he decided to get into the Real Estate sector. He made some investments almost at the peak of the property boom. He struggled to get the finance and to make the EMI payments. However, he persisted with his holdings for the next 2-3 years. Thereafter, he negotiated better loan terms with another financier and transferred his mortgage. He maintained the same EMI and got a larger loan. This he invested in another property. He continued getting rental income through these properties which partly off-set his EMI payments whilst he focused on building his net-worth. The broker through whom he bought the last property was a Civil Engineer; who took responsibility for developing the property. Once again, he had successfully become an enterprise owner getting the benefit of a life-style; without the headaches of operations!
Having more time and money, he now bought a franchise of a play school. He invested in some rental property (as owned property would make it a non-viable option) and got the renovation done using his own acumen and under the guidelines laid out by the Franchisor. He then put his other partner to manage this business on a day-to-day basis. He was looking forward to taking up 2 more franchises from the same franchisor and developing strong cash flows from the same.
This coachee effectively transformed himself into being unstoppable; used his Lord profile to manage his cash flows and build his net worth and leveraged the powerful enterprise-building distinction, to build himself not one but 3 profitable enterprises through consistent and disciplined application and get a formidable life-style for himself and his family with-in 5 years.
With a business you get money and headaches; with an enterprise you get cash flow and a life-style.