Nick Ikonomou business coach

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

If you are in these industries, working with a business coach will help you with all of the above. Even if you were in a partnership, you don't have to be alone in facing all of those challenges. Reach out and see how far you can go.