Discussion:Business coach services?

I contact several new business owners each week that have filed for business licenses. Almost universally, NONE have a clue with the occasional exception of a professional business owner mixed in. You can tell the two apart from the greeting on the phone "David's decorating" verses "hullow?" and the interaction that happens afterwards. Very rarely, when I ask about their company and services, is ANYONE fired up and excitable….most are 'well, I mow grass'. Okay, you are not selling and I am not buying.

It seems to me that most people have no chances and one in a few has a good enough product or service that will fly--if they can get themselves out of the way. Few, if any, people I have talked to have both a great product idea and business acumen. Without fail, those that have both are Accountants, Lawyers, or Physicians who started a side business. The rest of those with a good business concept need help.

So I was thinking of offering a product that would help with the following types of services:

1) Creation of a business plan (with help from the owner) to help with bankers, etc.

2) Insurance review (much of my experience is in health and life insurance).

3) Accounting setup on QuickBooks

4) Quickbooks training

5) Basic bookkeeping training for use with QuickBooks

6) Taxation review and executive summary of requirements based on the customer's business model

7) Setup of the basic financial statements

8) Marketing plan review and recommendations

9) Business record organization

The only problem I see is finding one of these business owners that are smart enough to know what it is that they don't know and finding someone with enough cash to pay for the service. I suppose this is really nothing more than general business consulting but when people hear consulting, they often think one of two things "expensive" or "that jerk that recommended my firing". Perhaps wrapped up in a neat little package with a nice branded name would help sell.

This is essentially what I did with my first client (for *free*) and they were very pleased with the service (not just because it was free).

Thoughts?

Thanks, Michael

I figure that everyone loves the value meal....don't make me order a la carte, just give me the number 1.

Selling it and pricing it to make it worthwhile, that's another story. I do have the long term outlook that perhaps giving a little here or there creates loyal customers. I have seen that so far in my practice with every one of my clients giving me a referral.

Michael

I had someone that wanted a business plan and proforma financials for a startup ice cream shop. I comparison shopped before I bid the job and the comparisons were coming back as $5-10,000. This guy said he wanted to open a business but could only afford to pay me $200. I told him the best advice I could give him was not to go into business. Of course he was offended and thought that I didn't know what I was talking about.

Try seraching 'Small Business Development Center" (Google) in your area. [[1]] They are primarily associated with the SBA here is another [[2]]

Contact the powers that be, offer to teach a class. what I have found in my experience is that the companies that are part of this process are more likely than not to be true entrepreneurs !

Good Luck, your on the right path

TexCPA

Bottomline, I was thinking more along the lines of $1000 to $1500 depending upon the seriousness of the business owner. Affording it is what I consider my largest hurdle.

Michael