Businesses that have not found a business coach or a mentor haven’t done so because they believe it’s a costly relationship they can’t afford.
But as the current business environment gets more hectic and unpredictable, more and more people turn to business coaching every day.
Your business will move through different stages of growth, and as a result, your key business challenges will inevitably change. These new challenges will require drastic changes in how you run your business. If you want to stay competitive in the midst of all this growth and change, coaching will help.
Let’s break down some of the top reasons business owners turn to business coaching.
Too Many Hours
From the outside looking in, why do people start businesses? If you had to pick three main reasons why, time or freedom would almost certainly find itself on that list. Being your own boss. Controlling your own schedule. Coming and going as you please. When you think about it, do you really have the time or freedom you sought after?
Many business owners deserve to work a whole lot less than they do now. But if they left for a vacation or holiday, would the business operate at full capacity (or at least close to it)?
If not, that’s where coaching comes into play.
A coach helps a business owner master their time. Working in the business should only take up half of your time as a business owner max. The rest of your schedule should be spent working on the business – creating systems, building up your team, developing strategies for growth. Because without that, the business goes nowhere.
Hopefully you’re ready to work a whole lot less so your business can work more.
Make Serious Profit
Do you make anywhere near enough money to justify the effort, risk, and investment you put in the business? You know that there are hundreds of sales, marketing, advertising, and profit growth strategies just begging to be tested.
How will you determine which ones need to happen now and which ones should wait?
A coach takes a serious look at the critical numbers that drive revenue and profit. They then help determine which of these key metrics needs the most improvement. Usually, one number holds the business back from serious growth and keeps it stuck.
You fire away on new strategies, leveraging your marketing dollars to improve what matters – instead of just throwing things out there to see what sticks. You’ll test and measure, seeing what works and what doesn’t.
If you want serious profit, you need assistance in looking through the books to find the number that’s holding your business back.
Build a Team…
of people that can grow the business whether you’re there or not. Recruiting, training and keeping the best people makes your life so much easier.
You will never find that time mastery we talked about if you don’t have a trustworthy team keeping the gears turning and treating your customers like VIPs.
How do you get these two things out of all of your team members? It starts with strong leadership and a common vision that the company actually buys into.
A great coach will assist in crafting that vision. They’ll then infuse it into your recruitment systems so you can hire people committed to that vision from day one. Because that matters much more than skills and experience when finding great employees.
Hire a coach and watch everyone in the business push towards your vision without as much effort from you.
Fall In Love With Business Again
Maybe business has gotten boring and at times you even feel sick of it all … time for a re-injection of that vision and passion you had when you first started.
Business motivation is at the core of everything your business coach will take you through.
Building either a simple business plan or full-fledged marketing plan will give you the clarity what needs doing and how to do it. Whether you work from home, are just starting a business, or run a multi-million dollar organization, a business coach fuels the fire in your belly. You’ll get back to your real dreams and goals in life – creating plans and taking actions based on those, not gut instincts.
Learn & Grow
Do you have time to keep up with your industry changes – let alone the changes in global business? If not, how will you improve?
Business education has moved into a new realm. We live in a world where a click of a button gives you access to endless information. A coach filters through that information and delivers exactly what you need to read about and learn about. Then, they provide the accountability for you to learn and apply quickly.
Think of coaching as an entrepreneurial degree using your business as a case study.
Even if you do find the exact information needed to make your next great business move, you’ll have a much tougher time applying what you learned without a coach at your side.
Be Held Accountable
Business coaches serve as your unreasonable friend… this means they’ll:
- Demand a profit
- Demand results
- Push you and cajole you
- Congratulate you and your team on a job well done
The world’s greatest athletes have coaches because they need people who correct them and have the guts to tell them when they’re wrong.
Another thing – being a business owner can be a lonely job. Imagine having your own sounding board, to talk with you and give expert insights.
Most people want to just throw advice at you, hoping something sticks so they don’t feel bad when they collect the check.
A coach asks the right questions so you can solve your business problems and turn them into business opportunities. Coaches creating opportunities with these questions – and it may seem like just a small part of what a coach does, but often it can be the most valuable.
As a leader, people expect you to have it all figured out. This makes it hard to go to people with true concerns. Life partners, employees, and peers don’t get it for one reason or another. A business coach provides that confidential soundboard.
Another great thing about having a business coach? They have no biases within your industry or business. Your industry probably has a “way of doing things” that has held up for years and has never been challenged. Good business coaches lead CEOs, presidents, and owners to “AHA” moments, uncovering solutions that others in the industry
Thousands of other business owners around the world have implemented business coaching. Take the step before your competition does.
Business coaching will work guaranteed if you have these two traits:
- You are willing to grow.
- There is a gap between where you are now, and where you want to be.
That is all that is necessary for you and your business coach to solve problems, create a new life, turn a business around, double sales and profitability, design and implement a plan of action, or whatever else to ensure that you have what you need to get more of what you want.