I have coached close to a hundred entrepreneurs over the last three years. They range from newly minted sole proprietorships to seasoned entrepreneurs who manage big teams and have an annual turnover upwards of Rs 100 crores (USD 16mn) with offices and operations spread over multiple countries.
The coaching sessions helped the entrepreneurs identify the three most important areas which they would like to focus on for greater results and effectiveness.
If I were to summarize the three most important areas identified by them, topping the list that most entrepreneurs want is more Sales. This should hardly come as a surprise – almost 20% of the entrepreneurs had this as their wish list. This was voiced in the shape of “I want a higher turnover for my business” to “Achieving the designated targets is my primary aim” to “I wish I had more time and inclination for business development”.
But what is surprising is what they want most next. It is Health and Fitness! This was a close second – comprising around 18% of the population. Entrepreneurs probably realize that their businesses depend on them to succeed and compromising on their health and fitness to achieve short term business gains is not sustainable in the longer term. ‘Fitness’ was important largely for the age group of 24 to 40 years whereas the entrepreneurs in their 40’s or 50’s were more concerned about being ‘Healthy’.
The third most important area, for 10% of the entrepreneurs, was having a stronger Personal Relationship. This could be with either someone at work – typically a partner with whom they had a conflicting situation arising out of a difference of opinion on how the business should run – or a family member whom they had neglected or taken for granted and now realize that it is a price they paid for their hard earned business growth.
The other important areas voiced by a smaller percentage of the population were how to manage my time better, have more self-confidence and be able to handle conflicts better.
As a budding or seasoned entrepreneur, which of the areas above do you relate with? And how are you planning to achieve greater results and effectiveness in them?