Often time I see business owners and entrepreneurs completely despondent. When I ask them what they are so down about, the typical excuses range from tough economic times, wrong area, customers being unreasonable, all the way to bad staff. (BTW, there is no such thing as bad staff, just bad leaders, else why did you hire them in the first place)
It takes some coaxing and prodding to start a decent conversation, as the impact of a business running slow, obviously carries with it the financial burdens which will follow inevitably, and wouldn’t you know it, the big D starts coming for you.
No not that one, DEPRESSION. And since there is no money, why even look at spending more?
What if I told you that this might be the exact time to bite the bullet and explore some new avenues. The biggest mistake you could make is to sit back and hope things will go better, because typically, they don’t. The economic climate is dire, so if you do not get your head out of the sand, you might as well close the doors. Sooner or later, it will be done for you with such an attitude.
But just as you thought there was no hope left, along comes a silly idea. Business coaching. You’ve heard of it, but have you tried it?
Allow me to give you the top 10 reasons why business coaching could change your business into a goldmine, once again, or for the first time.
What you are about to read, will stun you
Before we start, let me give you two additional reasons.
I know I know, the encore comes at the end of the show, but I think these numbers can’t, and shouldn’t wait. Over 70% of business owners in the US states that there was a direct ROI after partnering with a Coach.
Check under your seats, as Oprah would say, because you are about to get one of the biggest reasons ever.
344% Return on investment! A number so crazy, it even stunned me. 344% Return on investment. That’s right, according to https://blog.gitnux.com/life-coaching-statistics/ , the return on investment for life coaching is up to 344%. Yes, I said it three times, I am still not quite over it.
.I don’t know how to top that number, but as promised, here is my top 10 reasons to get a business coach, when things slow down.
My top 10 Reasons to get a business coach.
- 1 Accountability
- As a business owner, the buck stops here. A good coach will showcase your talents and motivate you to reach your goals and targets, but since there generally is no one else to hold you accountable, a coach will fill that void. As a coach, I hold my clients accountable for their actions, as well as their inaction, decision making and ultimate execution. A good coach will ensure you stay on track, because that’s what you pay him to do.
- 2 Clear Goals
- Everyone wants to earn infinitely. And as we all know, a business coach is a magic dragon that can simply blow smoke up you’re a.… Oh wait, that’s not right. Many times, I see the same requests. Unachievable ROI’s, unrealistically high sales targets, or clients well beyond the market capabilities. Your coach should guide you to set clear, realistic goals based on market research, time, effort, and any other variables your business might have. Or you can ask that dragon for the smoke of course…
- 3 Business plan
- Whether you have a business plan, or whether you have to start one from scratch, a business coach will work with you to craft, update and maintain a clear and concise business plan. From objectives to strategies, market analysis, costing, and all the relevant elements that your business plan needs for you to deliver. Your coach will have the knowledge, tested formulas, templates and applicable strategies to structure a business plan which truly reflects your goals, and guides your business to new heights.
- 4 Process Optimisation
- A business coach needs to understand business. Typically, business coaches are entrepreneurs, executives, and business owners themselves. People with real world experience, proven track records, often times in your area with local knowledge and resources, and exposure to typical problematic business areas. Your coach can help you look at your processes, find bottlenecks, analyse their impact overall and propose optimisations or even automations.
- 5 Confidence
- Whether you are starting a new business, or you are fighting a slump, odds are your self esteem might be low. Coaches encourage, support, and helps you to recognise your skills and abilities. While you are focusing on the grind, they will focus on the mind. They will help you to celebrate your wins, use your failures as steppingstones and give you the boost you need to get your momentum back.
- 6 Perspective
- A business coach needs to learn your business. The operations, the clients, the market, the products, the strategies. He will look at the business from a goal orientated mind set, and help you identify the delays and showstoppers, and give new direction. While your mind is on operations and finance, your coach will be finding ways to move your focus and energy on the areas which are holding you back. He will guide you to the perspectives important to reach your goals, changing the way you think and act, to achieve your desired results.
- 7 Marketing Opportunities
- Coaches can assist in developing or updating marketing plans. A personalised marketing strategy not only attracts new customers but gives existing clients an opportunity to rediscover and reinvest in your product and services. Generating leads, and up-selling products makes sense, turned into cents, and ultimately profitability and growth. That’s what you are here for, aren’t you?
- 8 Improve Skills
- Business coaches cannot do your job for you. They observe, reflect, reinvigorate and improve. Stagnating in your skills and abilities is a natural event, and a coach will help you to identify shortfalls in these areas, and assist in finding ways to up-skill and grow. As you improve your skills, not only do you deliver at a better rate or quality, keeping your customer base happy, but you also enable yourself, which has a net positive outcome on your mental well-being.
- 9 Effective Leadership
- What does Steve Jobs, Bill Gates and Eric Schmidt, the former CEO of Google all have in common? If you guessed they all used business coaches, you’d be bang on the money. Good leaders need to understand their strengths and weaknesses, and business coaches gives clear and concise guidance in this. Effective leadership creates effective working conditions. Sadly, the opposite is true when the leaders are unable to recognise their failures.
- 10 Balance
- Work-Life balance is important. Scratch that. Work-life balance is critical! Entrepreneurs and business owners regularly fall into the trap of spending all their time and energy at work. Loved ones gets neglected. Personal health gets placed on the back burner, and finally, before you know it, there is more stress added to your life. Coaches will encourage their clients to take a break, find the time to relax and recoup, and give back time to their personal goals. A drained and stressed person rarely adds value to anything. Coaches gives you the opportunity to reflect on this critical aspect and set aside the necessary time by working with your schedule, targets, and realistic goals.
Conclusion
And there you have it. My top 10 (Might be 12, but who’s counting) Complete with entrepreneur superstars, Oprah, and did you see that 344% ROI?
Business coaches become trusted advisors, guiding you on your path to success with clear achievable goals, perspective changes and strategies to achieve success in business, as well as in life. Whether you are new to the business world, in a slump, or ready to move your business up a gear, investing in a business coach is an opportunity you cannot miss. (Or you can wait for that dragon…)
Comment down bellow if you found this piece informative, or if you want me to give you call, and see whether you are ready for a coaching session. Please reach out, the first session is free, so what do you have to lose?
Until next time… Amor Fati