Coach Kevin

October 26, 2006 12:00 ET

Coach Kevin: New Study Indicates that Only 21 Percent of Vancouver Entrepreneurs are Having Fun in 2006

Over 100 entrepreneurs speak out on the impact of Vancouver's robust economy

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 26, 2006) - Vancouver entrepreneurs face considerable challenges despite operating in a robust economy according to a survey conducted by Coach Kevin, a Vancouver-based business coach and the Canada Export Centre, a full-service export marketing and exhibition facility. The survey indicates nearly two thirds of entrepreneurs are on a quest for greater revenue with almost half stating they are challenged to achieve revenue goals; over one third of respondents stated that finding top talent is a challenge; and, only 21 percent of entrepreneurs stated their businesses are successful and they are having fun in 2006.

"When only 21 percent of entrepreneurs are having fun in what everyone considers a hot economy, there is something tremendously wrong," according to Kevin Lawrence (Coach Kevin). "One of the perceived benefits of being an entrepreneur is the ability to have more ownership over your professional and personal life, not less. Our findings clearly indicate that the majority of entrepreneurs are consumed - and overwhelmed - in 2006."

"Thriving in a Hot Economy: Entrepreneurs speak out on the impact of Vancouver's robust economy in 2006 is the inaugural report on the professional and personal impact of Vancouver's business climate on entrepreneurs and business leaders. More than 100 entrepreneurs and business leaders were surveyed to better understand their top priorities, top challenges, the resources they find most effective in overcoming challenges, and the impact the current business climate is having on their lifestyle.

Highlights include:

- Increasing revenue, improving profitability and attracting more customers are top goals in 2006.

- The top three challenges cited are increasing revenue, hiring top talent and attracting new customers.

- Managing people, the administration of day-to-day activities and information management (email and phone calls) top the list of things that consume the majority of entrepreneurs' energy.

- Over three quarters of respondents consider personal experiences to be one of the most valuable resources in helping them overcome challenges, while 57 percent indicated advisors and mentors are essential.

- Setting and communicating a strong vision of success, working with top talent, advisors and suppliers and regularly setting goals are paramount in helping entrepreneurs deal with challenges.

- One half of respondents stated exercising is an important part of their ability to run a successful business.

The survey also details the impact of work on entrepreneurs' personal time. Most notably, an overwhelming 94 percent of respondents stated they either always - or sometimes - work on weekends. Furthermore, only 13 percent of respondents indicated their vacation time is completely free from work with absolutely no blackberry usage, calls to the office or attendance at tradeshows.

Coach Kevin continues, "Essentially, if an entrepreneur wants to overcome challenges and prosper, regardless of the strength of economy, they need to look at other entrepreneurs and business leaders that are thriving. And, in most cases they will find that entrepreneurs that do well in business are simply doing things that we all know are broadly accepted as good habits and smart business strategies. Our experience confirms that entrepreneurs who thrive share a common set of traits, management styles and guiding principles, giving them a strong sense of entrepreneurial stewardship over the businesses they operate."

Thriving entrepreneurs tend to structure their business environment in a way that helps them focus on what they enjoy, employ the best talent possible and use smart retention strategies to keep talent, and use feedback mechanisms, such as surveys to continuously improve the way they do business. In addition, they have a firm understanding of key performance indicators in relation to revenue growth and the bottom line. Thriving entrepreneurs also take work-free vacations, exercise and find time to have fun.

To view the complete survey, visit: www.CoachKevin.com.

About Coach Kevin

Kevin Lawrence is a business coach, speaker and agent of change, who is driven by a relentless passion for helping entrepreneurs and business leaders get what they really want, in business and life. He deeply believes that entrepreneurs can have tremendous business success along with an enriching, adventurous and fulfilling lifestyle, taking a 'have your cake and eat it too' mentality to an entirely new level.

With more than a decade of hands on experience as a business coach to hundreds of entrepreneurs and business leaders across Canada and the United States, Kevin is an expert at helping clients overcome major obstacles, deal with tough decisions and capitalize on new opportunities to achieve breakthrough results. His strategies, style and savvy approach have helped his clients increase revenue, profitability and productivity; build higher caliber teams; attract ideal (and eliminate headache) clients; and, reduce stress levels and hours worked so that they are freed up to live their personal version of outrageous quality of life. For more information, visit www.CoachKevin.com.


Contact Information