Hello, I’m Jon from Small Fish Business Coaching. I’m a business coach specializing in coaching programs for tradies and builders, called the Trades Toolbox Coaching Program. The program offers a comprehensive suite of resources, including coaching and advice from myself and David, another experienced coach. It also offers strategy development, training videos, tools for financial understanding and tracking, and numerous other helpful resources.

I work with tradies and building businesses to assist them in implementing systems and structures that will enable them to build their businesses properly – that is, profitably, with minimal stress, reasonable working hours, and content, productive employees. This approach is centered around growth, as growth typically generates additional revenue that can be allocated towards hiring extra staff, thus alleviating the workload and stress associated with running a business. The aim is to build a sustainable and enjoyable business that generates adequate profit.

Typically, a benchmark of a 10% net profit margin is used, alongside a 40-hour work week. This model promotes a sustainable work environment where employees are content and productive. If this appeals to you, I might be the right coach for you. Now, I will address a few questions from my friends at Your Small Business Coach.

Question #1: What are the top challenges I see traders and builders dealing with today?

The primary challenge is growth. Many of my clients have experienced growth, expanded their teams, and managed the increased workload by working longer hours. Consequently, they are often stressed and find less enjoyment in their businesses. They frequently feel that their increased workload and business growth are not reflected in their financial gains.

The causes of this issue are multifaceted. They include undercharging, a lack of financial understanding, a failure to implement systems for managing operations, and an attempt to handle all aspects of the business single-handedly. This approach is unsustainable and hinders further growth. To expand their businesses, they need to modify their business operations and personal work habits.

The second challenge lies in marketing. Numerous clients tell me that they acquire business through word-of-mouth, indicating a lack of active marketing efforts. While this approach can be successful initially, it is unreliable and can lead to a sudden decline in business. This situation is common; businesses can unexpectedly experience a downturn, leaving them scrambling to find work. Therefore, establishing a consistent marketing strategy that generates a steady flow of inquiries is crucial.

Question #2: Can I share a recent example of a success story?

Certainly, I recently conducted a workshop in Byron Bay where I had a group of my clients work on their businesses. I persuaded a few of them to create a video testimonial for me, and one of them, Lisa, who owns a building business, is featured on my website.

Lisa’s business was successful and busy, but it wasn’t generating substantial profit, and cash flow was an issue. She was stressed and dissatisfied with the situation. We addressed several aspects of her business simultaneously. We helped her understand her costs, enabling her to charge appropriately and confidently. She increased her prices, leading to profitability. She also gained control over her finances, which was crucial. She invested significant effort into marketing and sales, particularly in building relationships with business referrers and taking a hands-on approach to sales.

As a result, her business has grown significantly, and she is now operating profitably. She is effectively managing the new challenges that come with growth and is once again enjoying her business. Her monthly revenue has more than doubled, presenting new challenges that she is handling adeptly. She continues to implement systems to manage this growth, making her a true success story.

Question #3: What’s one piece of advice or actionable tip I give most frequently to the businesses I coach?

While it’s difficult to choose just one, the most frequent advice I give, based on feedback from my workshop attendees, is to “know your numbers.” My coaching follows a systematic approach that addresses the constraints of money, capacity, and systems, typically in that order. The initial focus is almost always on finances, specifically on generating more revenue to facilitate other business improvements.

I often find that businesses are undercharging, which leads to cash flow issues. Therefore, understanding costs, margins, and appropriate pricing is essential for confidently raising prices and improving financial stability.

Question #4: How can trades and builders know when it’s time to work with a coach?

The ideal time is when you can afford it and when your business has the potential to benefit from coaching. The typical trajectory for a trade or building business starts with working independently, securing work through one’s network, and then hiring employees as the business grows. As the business gets busier, with the owner handling both work and sales/marketing, it can become stressful and unsustainable.

This is the opportune time to consider coaching. With a team of a few employees and increasing time pressure, it’s crucial to start focusing on finances, building capacity, and ensuring a steady flow of work. This often involves a shift in the owner’s role within the business.

Generally, I recommend coaching for businesses with a monthly revenue of around $30,000 and at least two or three team members. This is the stage where implementing systems to facilitate employee productivity and business growth becomes essential.

Question #5: In your experience, what are some of the biggest mindset shifts traders and builders need to make to achieve sustainable growth?

There are several key mindset shifts. The most apparent one is the transition from tradesperson to businessperson. This shift involves moving from a focus on performing the work to building the business, which includes finding and winning work, implementing systems, and managing a team.

Another crucial shift is towards confident and appropriate pricing, based on a solid understanding of costs and margins. Additionally, a greater focus on sales and marketing is necessary to secure sufficient work for business growth. Confidence plays a significant role in all these shifts, and it’s important to remember that as a business owner, you are not inferior to your customers.

Question #6: What role do accountability and structure play in driving success to the businesses I coach?

Accountability and structure play a significant role, particularly given the challenges people face in making mindset shifts. My clients are typically busy and may not have ample time for the additional work that coaching entails. There’s a natural tendency to prioritize urgent tasks over coaching work, which can be challenging and take them out of their comfort zone.

The structured nature of coaching, with regular meetings and sessions, helps ensure that clients complete the tasks necessary for achieving their business goals. It provides a framework for setting priorities, tracking progress, and maintaining focus.

Question #7: What common mistakes do I see people making when trying to scale, and how do I help them avoid these pitfalls?

There are numerous common mistakes, including undercharging, attempting to handle everything independently, hiring poorly, neglecting team leadership and management, focusing solely on price, not investing enough in marketing, and failing to transition from tradesperson to businessperson.

I address these issues by helping clients understand their costs and set appropriate prices, implement systems and delegate responsibilities, develop effective hiring and leadership strategies, and create comprehensive marketing plans.

Question #8: How do you tailor your approach when coaching different types of business or industries?

My approach doesn’t vary significantly, as I work exclusively with tradies and builders. However, there are different types of trade and building businesses, based on the nature of the work and the target clientele. I guide clients in identifying their business type and target market and selecting appropriate strategies accordingly.

For instance, businesses can focus on maintenance or construction, work on residential or commercial projects, and serve different types of customers. Each of these factors influences the appropriate marketing, sales, and operational strategies. I have developed a framework that outlines these different business types and their corresponding strategies, helping clients make informed decisions and implement effective approaches.

If you’re interested in my coaching, please submit an enquiry, and we can arrange an initial call to assess whether I can be of assistance. If we both agree that I can help, we’ll schedule a strategy session to develop a plan and determine if we’ll work together.

Thank you for your time.