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New Book Helps Small Businesses to Escape the Micro Bubble
(PRWEB) October 25, 2007 -- Almost all micro businesses never move to the next level because their owners lack the vision, passion and skills to make that happen, according to leading Australian small business adviser Dr Greg Chapman.
In his new book "The Five Pillars of Guaranteed Business Success" (http://www.FivePillarsBusinessSuccess.com), released today, Dr Chapman says that analysis of ABS figures reveals 98 per cent of small businesses are effectively "micro-stayers", trapped inside a rapidly expanding micro bubble with little prospect of escaping because they don't know how to grow.
"What happens to most small businesses is nothing. They just stay small," Dr Chapman says. "The Five Pillars of Guaranteed Business Success is the definitive step-by-step book on what business owners need to do to take their business to the next level."
According to Tony Steven, chief executive officer of the Council of Small Business of Australia, who has written the forward in the book, building a successful business is more complex than ever and having the right foundations for growth is essential.
"Greg Chapman gives the business owner an insight into each of the key areas for success and begins the realisation for the owner that you should not be your business, but rather you should let go and enable your business to grow without you."
Dr Chapman says there are basically five reasons why micro businesses don't move to the next level, with a lack of vision by the owner for where their business is going being top of the list.
"Without any direction you really don't have any strategy and strategy is the lever that lifts you from where you are today to where you want to be," he says.
A second key reason is a lack of passion for their business, with many owners not having the commitment to take their business to a higher level. "You need the right vision to give you the passion, the commitment to stay the course and overcome the obstacles that do appear."
Dr Chapman says another reason why businesses stay small is they don't plan. "It's not enough to have a vision and a passion; you actually need a plan to take you there. It's the roadmap; without a plan all you really have is a dream, and we know how often they come true."
"You need a plan to give you the confidence to take the risks you need to take to achieve better results."
Dr Chapman says the fourth reason why businesses stay small is business owners don't value their time, and are often working in their business rather than on their business by performing tasks that can be delegated or outsourced.
"So many business owners are micro managers. What's missing is there are no business systems; the owner is always spending their time in the business rather than on high-value tasks such as talking with their customers and finding new business."
Lastly, Dr Chapman says business owners who fail to invest in education are also greatly limiting their growth potential. "When you value your time, you will also understand the value of knowledge, because knowledge saves time. If an owner is not willing to invest in their own education, and sees that as a cost instead, they have just resigned themselves to the school of trial and error."
Dr Chapman says if business owners don't address all of these key factors, "they are unable to grow beyond a certain level, and the owner becomes frustrated, and ultimately resigned to being a micro-stayer. Successfully implementing the Five Pillars will ensure that you will address all of these reasons businesses stay small."
About Greg Chapman
Greg Chapman (http://www.GregChapman.biz) holds a PhD (Uni Melb) and an MBA (Deakin). He provides business education for professional organisations and business schools at tertiary institutions. He is the creator and editor of the Australian Small Business Blog (http://www.AustralianSmallBusiness.net.au) and is a Telstra Business Awards Judge. He is a member of the Australian Institute of Company Directors and the International Coach Federation.
For more information or to interview Dr Greg Chapman:
CEO Australian Business Coaching Club
Telephone: 1300 76 35 45
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