What is the No. 1 small-business financial mistake? - Sacramento Business Journal
El Dorado Hills, CA (Grassroots Newswire) June 25, 2012 - The relationship between goal-setting and success is a strong one. The process of setting goals allows people to specify and then work towards their own objectives. AdviCoach® Bob Tierno of El Dorado Hills says for business owners to succeed, they need to create a vision of what the business can do for them. As a business coach, who works with business owners to increase the performance of their businesses, Tierno focuses clients on establishing an ILWE or Income, Lifestyle, Wealth and Equity goals.
"As a business coach, when I begin to work with clients, I ask them to put some serious thought into what they want their ILWE to look like in one year, five years and at retirement,” says Tierno. "Establishing an ILWE is defining the big picture, the vista that entrepreneurs keep in front of them at all times to motivate them to do the necessary activity to get the desired results.”
An ILWE establishes the exact nature of an individual's goals, needs and expectations. By focusing on both short term (Income and Lifestyle) and long term objectives (Wealth and Equity), the ILWE creates a frame work for long term application while growing a successful business.
Tierno says that once an ILWE is established, it will become the futurist carrot to keep one focused on his or her primary objectives and the impetus that inspires and motivates individuals as they go down the path of self discovery, self actualization and independence that business ownership offers.
AdviCoach® Tierno emphasizes that the time and energy invested in goal setting can pay off many times over. And, the value to business owners can be substantial and measurable. Increased organizational support, collaboration, and cohesion are often unrecognized benefits that will further bolster productivity and profitability.
AdviCoach® Tierno works collaboratively with clients to provide customized education and strategic business solutions applicable under any set of economic circumstances. Unlike traditional consultants that specialize in a particular business discipline or industry, Tierno delivers a variety of services to enhance the performance of small to mid-size businesses in any industry.
To learn more about AdviCoach® services in your area, please contact: Bob Tierno at 832-285-5272, firstname.lastname@example.org or www.advicoach.com/btierno.
AdviCoach® is the premier source for business coaching and advisory services customized for small to mid-size businesses. With its unique "AdviCoach Advantage™,” AdviCoach® coaches help businesses increase their ROI and deploy a multitude of Rapid Impact Strategies to impact the bottom line of their business. Today, AdviCoach®, along with sister company The Entrepreneur’s Source®, dominates the $1.5 billion dollar Business Coaching/Consulting franchise market with 33 percent market share in North America. In 2011, AdviCoach® was ranked in the top 100 fastest growing franchises by Entrepreneur Magazine; in the Top 100 new franchises by Franchise Market Magazine; listed in the Franchise 500 by Entrepreneur Magazine for 3 consecutive years as a Top Home-based Franchise, Americas Top Global Franchise, and AllBusiness.com’s AllStar Franchises list. More information is available at www.advicoach.com
Intel Retiree Discovers Second Career as BusinessCoach
Gene Murphy, an Intel retiree, recently interviewed Bob Tierno about his "life after
Intel” and gleaned some very good advice about starting another career.
Many Intel retirees have embarked on second careers. For example, there are those who have become financial planners, lawyers and even ski instructors among our ranks. Bob Tierno, a former 18 year Intel employee, found a second career as a business coach.
Since Bob’s father was a colonel in the U.S. Army, Bob traveled extensively as he was growing up. His family lived in many different places throughout the U.S., as well as some foreign countries. He settled down long enough to graduate from the University of Oklahoma with a BS in Education. After graduation, Bob worked for the U.S. Department of Justice, Federal Prison System. Interestingly enough, in 1982, Bob left his position in the Prison System for Intel in Santa Clara. Bob’s Intel career was split between Marketing and Field Sales. Today Bob and his wife, Karen, enjoy life in El Dorado Hills, CA.
Before embarking on his new career as a business coach, Bob and Karen owned another business - a Bed & Breakfast in Sutter Creek, CA. Karen handled the day-to-day operations, while Bob was still working at Intel. After 13 successful years, they decided to sell the business and in 2008, Bob had the opportunity to purchase an Entrepreneur's Source franchise. The company specializes in career and business coaching forfranchisees and independent business owners.
This was the first step in launching a new career as a business coach, and involves being a strategic advisor for small and medium business clients. He helps his clients develop business plans and guides them to achieve the objectives that are mutually created by them.
Bob’s career change was not without challenges. Bob said that acquiring clients is a daunting task. He went about the process by developing a network and getting referrals from that network. Bob also created what he calls "a personal brand” to help prospective clients understand "who he is” and what differentiates his business from his competition’s. Obviously, this was a big change from Intel, which has the advantage of a
very strong brand that drives a lot of business for the company. Bob was quick to stress that his Intel experience has helped him in his new career
- It helped him develop a results orientation focus. In his business, clients must
see tangible results from their association with his company
- It gave him the discipline to speak with facts and eliminate excessive emotion
from his client interactions.
- He uses constructive confrontation techniques to help his clients address difficult
Bob has some advice to share with current or future retirees who are thinking about a
second career. First, it’s critical to get clarity on both personal and financial long-term
goals. If you have a spouse or significant other, this is an important discussion. Also,
the prospective business owner should answer some key questions, such as:
What do I want to get from this business?
How much money do I want or need the business to yield?
How much money will it take to capitalize it?
How much time do I want to devote to this venture?”
Honest answers to these questions are crucial to internalize before
you begin. Bob has found that many people who think they want to
own and run a business quickly find out that they actually want to
have a hobby. Hobbies are fine too – just don’t confuse the two of
If you are interested in learning more, Bob can be reached at email@example.com.