Starting and growing a business in today's economy is an arduous process, but with the help and insights of someone such as a business coach, success can become a reality.
It takes more than just opening your doors to keep a business afloat. Time management, properly budgeting finances and building strong customer relationships are just a few of the many aspects of making a business prosper.
Here to answer this week’s “Behind the List” questions is Rick Munson, business coach and partner of Paramount Business Development Group in Stroudsburg.
Lehigh Valley Business: How long has Paramount Business Development been operating in the region and what are its primary services?
Rick Munson: Paramount was formed in December of 2005 and has been continuously operating for thus nearly 12 years. For a while, we were operating … under a different name due to a franchise arrangement.
We help leaders and companies tackle and solve their biggest challenges. We do this by offering executive leadership coaching, business coaching and sales coaching.
Our uniqueness is that we do this in a very simple, straightforward manner without fluffy, obtuse, complex theoretical strategies.
Also, we have been in corporate executive positions and have deep experience in “getting it done.” We like to say: “Real People, Real Companies, Real Results.”
LVB: What have been some of the biggest challenges and opportunities that Paramount Business Development has encountered throughout its years in business?
Munson: We have helped many companies in our region grow massively in size, sales and profits.
We have helped one company grow by over 500 percent in the last seven years. We have helped several grow by three- and four-fold.
We helped clients achieve this level of performance even through the Great Recession.
Our biggest challenge for ourselves is the many “do it yourselfers” in business who will not take advice.
LVB: Does Paramount Business Development provide its services solely in the Great Lehigh Valley/Pocono region, or does it expand into other markets?
Munson: We have worked with clients in five states. The majority of our clients are from the Lehigh Valley, the Poconos and the Scranton/Wilkes Barre region.
Our geographical limitation is really only to the delivery method preferred by the client (i.e., in person, via phone and information technology, etc.)
Obviously, working in person practically limits us to about a 60-mile radius.
LVB: How does Paramount Business Development directly stimulate the local economy?
Munson: We stimulate the local economy through our clients’ business success. This is especially true for the clients that sell goods and services outside our region.
In our opinion, business failures are such an unnecessary waste. Business, while very hard work, is easy in our opinion.
Successful businesses hire more employees and make more profit. This increased payroll and profit will increase our local economy and also usually trickles down to nonprofit endeavors, as well.
LVB: What does the future look like for Paramount Business Development? Does it have plans for growth?
Munson: Paramount looks forward to a very strong future as our business grows. As business becomes more competitive, and it inevitably will, it will increase the need for our services.
Another driver will be the retiring baby boomer generation and the void of business knowledge and leadership skills that will be left behind.
The growth of Paramount will only be limited by the ability to find additional qualified coaches.