There is a common misconception that setting up and running a business is a project an owner delivers on their own, and that the isolation that can come with entrepreneurship is unavoidable and something you just need to get on with.
While you may have come up with your business idea on your own, laying its foundation and the building blocks are really not something you have to tackle all by yourself – especially not in light of statistics suggesting that thousands of businesses fail within their first few years.
The initial excitement of starting a business can only carry you so far, but when the harsh realities of commercial life set in, you want to make sure you have the right kind of support system to fight back with.
Whether your business is flourishing, stagnating or deteriorating, here are four ways coaching can give you a helping hand:
1. An independent and reliable sounding board
A business coach is an outsider with no affiliations with your business. They approach your business with fresh eyes and can see issues you may not notice yourself, which makes them the perfect person to discuss matters with. They are a useful resource to bounce off ideas and discuss your plans without worrying that they may disclose those details or use your ideas to their own advantage.
2. Support where and when you need it
Coaching works because it’s tailored to your individual needs. Unlike self-help books or other literature produced for the public at large, a coach gets to understand your business and provides you with support and solutions that are unique to you. For example, you may have nailed marketing and sales, but continue to struggle with recruitment. A coach not only supports you in any weaker areas, but works with you to ensure that all areas of your business are operating at an optimal level and coexist in harmony.
3. Boost efficiency
Boosting efficiency could mean that you need to streamline your operations, improve time management, review your budgeting or consider diversifying services. Outdated technology and systems could also be slowing down progress and contributing to errors that could cost you time and money in the long run. A coach helps you identify these areas of inefficiencies and provides solutions to address these issues.
4. Challenge the status quo
Established businesses usually have a set way of working, or a set of values that has developed over the years. A business coach challenges the status quo, in a constructive way, by helping you identify what systems you could maintain and those that need change so that you can launch into the next level. Some businesses resist change because “that’s the way we’ve always done it”, but this attitude could be holding them back.
Not only do we here at ActionCOACH believe that coaching is a powerful way to achieve your goals, we also have the tools to get you there. Tony Mazzotti is an accomplished coach with decades of experience who has supported many entrepreneurs in achieving their goals. Contact Tony today to discuss the many ways he can support you.