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Supporting Businesses Australia-Wide with flexible payment options. No Lock In Contracts

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Want to GROW or SAVE your business?

Discover how business coaching will change your
business forever. Nick Ikonomou helped over 300
businesses in One on One assignments. Are you ready?

Discover how Nick can help you

Industries we work with

When seeking qualified business advice from a mentor or adviser, it’s crucial that you seek an adviser who will tell you what you need to hear rather than simply what you want to hear. CoachNick provides small business owners with objective guidance to help make your business as successful as possible. We will tell you what is working well and what needs improvement, and help you make the necessary changes to bring those improvements to life. CoachNick will also assist with goal setting – both short and long-term – to help maximise the potential of your business.

Retail

Typically, retail businesses rely on great customer service to get repeat shoppers. Most common issues faced are:

  • Finding great, reliable retail staff who are customer focused
  • Finding young, enthusiastic, perhaps even career focused staff with a care factor
  • Long hours 5-7 day businesses
  • Difficult to take holidays
  • Transient staff who are often back packer based
  • Communication
  • High rents
  • Location issues
  • Wondering if their business is franchisable
  • Issues with their own franchisors
  • If in major shopping centres, lack of security due to short (eg. 5 year) lease terms
  • Wanting to explore the online sales arena
  • Recovering the high purchase price or setup costs
  • Time management
  • Weekend and evening work
  • Lack of vision
  • Fatigue
  • Understanding when to get out
  • Marketing knowledge tends to be very low
  • Financial management skills are typically low

Industrial/Wholesale

Typically, Industrial/Wholesale businesses rely on great manufacturing processes or efficiencies in importing/exporting to get great repeat customers. Most common issues faced are:

  • Finding great factory labour
  • Finding apprentices wanting to pursue a career in their industry
  • Trade terms making cashflow tight to pay the rent/mortgage and the employees who are paid usually weekly, if not fortnightly.
  • Large customers dictating unreasonable terms with the industrial supplier
  • The owners are often the most technically qualified in the business, hence an over reliance on the owner to be around or available, even if on holidays
  • Communication
  • Size of factory/warehouse too large or small for the current trade levels
  • Searching for agents to on-sell their products
  • Recruiting gun sales people to generate the minimum appropriate level
  • Tracking employees
  • Recovering the high purchase price or setup costs
  • Competition with overseas suppliers
  • Time management
  • Lack of vision
  • Fatigue
  • Understanding when to get out
  • Marketing knowledge tends to be very low
  • Financial management skills are typically low

Hospitality

Typically, hospitality businesses rely on great customer service to get repeat patrons. Most common issues faced are:

  • Finding great, reliable chefs or senior cooks
  • Finding young, enthusiastic front of house with a care factor
  • Long hours 5-7 day businesses
  • Difficult to take holidays
  • Transient staff who are often back packer based
  • Communication
  • High rents
  • Recovering the high purchase price or setup costs
  • Time management
  • Weekend and evening work
  • Lack of vision
  • Fatigue
  • Understanding when to get out
  • Marketing knowledge tends to be very low
  • Financial management skills are typically low

Trades

Typically, trades businesses rely on trust to stand out ahead of the various competitors. Most common issues faced are:

  • Finding experienced tradesmen
  • Finding young, enthusiastic apprentices with a care factor
  • Lack of a strong support structure in admin, often performed by resentful spouses who most likely and rightly would prefer to do other work outside of the business
  • Attendance
  • Discipline
  • Presentation
  • Communication
  • Invoicing
  • Collection of outstanding debts
  • All paperwork
  • Time management
  • Weekend and evening work
  • Lack of vision
  • Marketing knowledge tends to be very low
  • Financial management skills are typically low

Business Services

Typically, white collar businesses rely on professionalism to stand out ahead of the pack. Most common issues faced are:

  • Finding quality staff
  • Expensive staff not providing adequate return on investment
  • Communication issues, especially with highly technical businesses such as IT, accounting, law firms and architectural
  • Marketing knowledge tends to be low
  • Time management
  • Financial management skills aren’t always utilised to an appropriate level

Franchisees and Franchisors

Typically, franchisees come from being an employee and hence their business skills are raw and heavily rely on the quality of the franchise system and those running it. Most common issues faced are:

  • Over relying on the franchisor
  • Blaming the franchisor
  • Occasionally overpaying for the franchise creating a sizable break-even requirement
  • Thinking of quitting the franchise group

Typically, franchisors come from being successful in running their own operation, but, after turning it into a franchise model, reaching maturity and the beginning of losing key franchisees. Most common issues faced are:

  • Losing key head office team members
  • Facing too many conflicts with franchisees
  • Few franchisees damaging the brand
  • Not appreciating that the business morphed into a HR company, needing entirely different skills.
  • Going national
  • Going global

Rural / Agricultural

Typically, Rural / Agricultural, otherwise known as Agribusinesses are typically generational businesses although a new and young breed of hospitality and tourism centred businesses also are grwing rapidly. Most common issues faced are:

  • Finding great farm labour
  • Finding apprentices wanting to pursue a career in their industry
  • Attracting skilled people to their region from other areas including the major cities
  • Trade terms making cashflow tight to pay the rent/mortgage and the employees who are paid usually weekly, if not fortnightly.
  • Large customers dictating unreasonable terms with the industrial supplier
  • The owners are often the most technically qualified in the business, hence, an over reliance on the owner to be around or available, even if on holidays
  • Communication
  • Size of property either too large or too small for the current trade levels
  • Re-investments in equipment is large
  • Distance for labour and transport is costly. Accommodation needing to be catered for
  • Typically old fashioned business skills which can be great, but, sometimes too old fashioned to attract the next generation
  • Succession planning often considered through the kids coming through
  • Competition with overseas suppliers
  • Time management
  • Lack of vision
  • Fatigue
  • Understanding when to get out
  • Marketing knowledge tends to be very low
  • Financial management skills are typically low

For an OBLIGATION-FREE consultation. Find out how, with coaching and mentoring, you can change the way you operate to achieve the results you deserve!

Contact us today on 0419 342 766

Book a FREE Session

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Since 1999, he’s helped over 400 businesses in 1-on-1 business coaching assignments . CoachNick coaches, on average, 35 individual businesses at any given time.

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