You want to grow your business or improve some aspect of your business, but the idea of adding the expense of a small business coach seems unrealistic or impratical.
What A Small Business Coach Brings
The value of hiring a small business coach can be rapidly outweighed to the degree that immediate benefits come about from the acumen and accountability that a well-experienced coach can bring to the table.
Most businesses fail from a misestimation of effort or a lack of pragmatic know-how in marketing and businesses processes. While most businesses will hire staff to address and service these issues, they tend to hire people that they can afford versus the ones the with the critical skill-sets and knowledge that can bring about the results and success they seek.
What Is Your Biggest Expense?
Ignorance. Despite fancy branding, enthusiasm and great ideas, 90% of small businesses will not see past year 5. Was it a lack of need for what the business offered? Was is a lack of hard work? Or did it truly come down to a lack of know-how? If you are already a small business owner, do you not already work hard or long? I strongly believe that most business owners have a strong belief in what they do, but do know that they have shortcomings that eventually lead to their increased financial stress and lack of results.
So before you discount hiring a small business coach, just figure into the equation the idea that your weak points could become a festering wound, bringing you and your company towards bankruptcy. A small business coach can bring a level of vision and accountability that cannot be found in the business owner, his CPA, nor in any of his staff. And the expense of the existing payroll is usually much higher than the monthly fee of a great small business coach.
According to an article in The New York Times entitled, “Top 10 Reasons Why Small Businesses Fail”, here are some key reasons cited:
“Dysfunctional management. Lack of focus, vision, planning, standards and everything else that goes into good management. Throw fighting partners or unhappy relatives into the mix and you have a disaster.”
“Owners who cannot get out of their own way. They may be stubborn, risk averse, conflict averse — meaning they need to be liked by everyone (even employees and vendors who can’t do their jobs). They may be perfectionist, greedy, self-righteous, paranoid, indignant or insecure. You get the idea. Sometimes, you can even tell these owners the problem, and they will recognize that you are right — but continue to make the same mistakes over and over.”
The 5 Pivotal Benefits of a Small Business Coach
1. The small business coach can see the forest past the tree that you are currently wrapped around. Having an “exterior” view to your predicament, not caught up in the human emotion of it all, can be invaluable.
2. Experience in solving similar problems in a pragmatic manner. It is not that you are not attempting to solve your problems, unless you are in apathy. Many business owners go about it the wrong way, and that eventually becomes expensive and frustrating.
3. Planning and tactics. With no workable plan and tactics, you will spin your wheels and drive yourself insane. Disorganization is a small business killer.
4. Workable policy and business processes. Part of your business plan need to place exact, written policy that enforces exact business processes being followed. A smart small business coach will be able to accomplish this with relative ease.
5.. Accountability. A great small business coach will not accept your excuses or lack of results. Similar to sports, a great coach expects and demands results.
Get Smart, Become Wealthy
Wealth is not built on trying hard and struggling. Working smart and becoming efficient is the secret to business success. Let me know if I can help. Call me for a free 1-hour business analysis.