Business coaches are prized mainly for their business acumen. You can always count on them to give you sound third party advice when faced with tough decisions, something which can only be acquired after many years of building both successful and not-so-successful businesses. But that’s exactly why we turn to them.
A lot of business startups lack the knowledge and experience that a business coach can bring. Inexperienced business owners often come up with great business ideas, but have a difficult time executing them. This happens more often than not, even among well-established companies.
Every business owner makes bad business decisions. In fact, if they’re being honest, they’ll be the first ones to tell you to get a good business coach as early as possible so you won’t have to make the same mistakes.
Some of the world’s industry leaders who had business coaching include Bill Gates, Steve Jobs, and former CEO of Google, Eric Schimdt. If these titans of industry find a business coach helps them make better business decisions, then what are you doing without one?
Your Business Coach Knows Where You’re Headed for
Seasoned business coaches almost have like a “sixth sense” when it comes to business. They can tell whether your idea will turn to gold or a failure waiting to happen. It’s not intuition, but a well-founded response based on experience, facts, trends, probabilities, customer psychology, among many other things.
Your initial conversation with your business coach is mostly about listening to you, taking in as much information as possible about you and your business. He or she will dissect your strategies, identify strengths, opportunities, and expose potential threats and vulnerabilities. He’ll ask some important questions and piece together crucial information to get the whole picture.
By then, he’ll be able to provide you with an accurate appraisal of your business. In most cases it can be one of two things – you’re on your way to the top or to the bottom. You’re either winning or losing to your competitors. Or, it could be you’re heading for a slowdown and you’ll have to look for better options such as downsizing or using automation. Sometimes it’s more about organizational matters such as dealing with your staff and employees.
Whatever it is, have an open mind and don’t let pride cloud your judgment. Remember, business coaches are more concerned with helping your business than trying to boost your ego.
Your Business Coach Provides Personalized Guidance
Books and online courses are great when it comes to learning the basics of starting and growing your own business. In fact, we have our own book, Small Business Profitability Secrets, which we highly recommend you get one. However, most books and online courses have limitations. They often deal with much broader issues common to all businesses and offer little help at solving specific problems for your specific kind of business.
Another problem is that these kinds of information tend to date rather quickly. Our markets and industries are dynamic, and technologies are changing at breakneck speed. What worked 3 to 5 years ago may no longer be as effective today and we need to adapt our strategies and our message to the here and now.
One of the best ways to get around this problem is to get personalized guidance from a business coach. Think of your business as your own body. When something goes wrong, your doctor will check on your medical history, allergies, and so on. You’ll go through several tests before your doctor writes his prescription, and follows up on you to see your progress.
Your business is unique in some ways. You can be a restaurant like a thousand others, but you have a different customer base, a different location, different competitors, demographics, economic conditions and so on. Your restaurant may not have the same set of standards as it is in Canada, Japan, Australia, or the Philippines. How do people learn about new businesses in your country? Do people search the internet or spend most of their time on Facebook or YouTube?
Your business coach will have to learn everything first about your business before taking a step further. This is very different from just looking for information over the web to get quick fixes or some vague, oversimplified solutions that doesn’t fit your business. But that doesn’t mean you can’t do your own research. There are thousands of valuable resources on the internet that provide great ideas for business, but ultimately, you need a business coach to help you in those crucial decision-making aspects of your business.
Having a Business Coach Could Be the Best Investment You’ll Ever Make
If you factor in the number of years it would take you to find the right mix and how much money you’d spend over the course of time playing “pin the tail on the donkey” with your business, and compare that with how much you’d spend for a good business coach, you’ll be amazed at how much you’re going to save in both time and money by having a business coach in your company.
Having a business coach cuts the amount of time and money spent learning everything on how to do your business right. It’s the same reason we hire coaches in sports, finance, or even self-improvement. It expedites the whole process, allowing you to reach your goals much sooner with the least amount of money and effort.
But more than that, we hire good coaches because we want to win in life – our businesses, careers, and our relationships with other people. Having a business coach is like standing on the shoulders of giants, enabling us to see further than we would otherwise see by ourselves.
So yes, definitely find a good business coach. What’s a good business coach? How does a small business profitability expert with over 20 years of experience and has helped launch more than 700 companies worldwide having a total turnover of $1.4 billion in revenue sounds to you?
Final Thoughts
By now, you might be thinking where to find a good business coach to help you grow your business like you’ve never thought possible. Would you be happy if we tell you we’re offering a 45-minute call where we connect you with our small business profitability experts at no cost to you?
We’ll identify all ways to increase your sales and profits and leave you with a step-by-step plan with details on how to implement and the tools you can use to accomplish each task. Visit us at Smallbizdream.com and take a closer look at our 5-step Rapid Sales Growth Blueprint today.