Professional entrepreneurs are faced with a dilemma.
All service professionals run businesses – often though the focus of their training does not adequately provide them with the skills to properly run the business side of what they do. Failure for service professionals is often less linked to the actual professional service they provide, in which they are superbly trained, but more often due to the lack of robust business principles, knowledge and systems that provide them the underlying framework for their services. In addition there is often little recognition of the value a well functioning business adds, not just to them whilst running their practice, but also very importantly when they want to exit and sell their business.
By far most professionals are well-trained, skillful and efficient executors of their vocations, but very few of them are natural or trained entrepreneurs in the true business sense of the word. Entrepreneurship is defined as when one organizes, manages, and assumes the risks of a business or enterprise.
The goals of entrepreneurship are the:
- and renewal of value,
not only for the owner/s, but also for all participants and stakeholders.
The new economy has lead to a shift in the perception of "what defines a professional person". Exclusive training (implying exclusive knowledge and skills), a professional board/council license to practice, specific recources put in place and submission of oneself to the rules and regulations of your board/council when practicing, doesn't constitute true professionalism anymore.
The dilemma is that to a great extent, not only the actual "professional service", but also the whole transaction experience is evaluated by the client in forming his/her perception of the service provider's "professionalism". And in the light of the fact that business skills and practice management were not part of their basic training, these professionals are at a disadvantage! Successful business needs optimal performance in every area of business; not just the "service" part.
Highly skilled and knowledgeable veterinarians, dentists, medical doctors, lawyers, engineers, optometrists etc, are not necessarily prepared for private practice or business. Having to adhere to the strict and mostly pragmatic codes of conduct of professions versus the pressures of a free market economy, takes its toll. The purely clinical or technical side of the job takes up too much time to spend enough quality time in managing the practice or business. This is no surprise, as after all that is the income generating part of the business – the engine room! For business (just like with a circle) to grow, you need all-round or 360 degree growth!
360 Degrees Forward©
360 Degrees Forward© is dedicated to empower and assist the thousands of professional business persons out there battling in the daily trenches of entrepreneurship. Every associate and consultant in 360 Degrees Forward© were in private practice before studying or specializing further in their relevant spheres of business acumen. This is not a company of academics that have never been in practice, but of professionals who truly understand because we’ve walked in the professional’s shoes!
Whether you are thus in need of “industry related” practice management expertise, financial analysis and benchmarking, turnaround or expansion strategic planning, human resource assistance, creative and “out-of- the-box” marketing solutions or training of yourself or your personnel to better understand and face the changing business environment, 360 Degrees Forward© can assist you in a relevant and practical way.
Please contact us for more information
Please click here for information on our upcoming one-day training workshops, which will take place in:
- Johannesburg - 23 July 2013
- Pretoria - 24 July 2013
- Cape Town - 6 August 2013
- Durban - 7 August 2013