As an entrepreneur, you started off as a specialist: You had a great idea for a business, and you launched. As a newfound business owner, you’re now stuck with the job of the generalist. This can work for a while, but you’ll soon realize that you don’t have time to stay on top of all the things you need to do, or challenges too complex for your experience. You can continue to hack it, or you can get some help.
1. Strategy and planning
A coach will challenge you to
think differently, stretching your goals. Sure, you have lofty expectations for
your business, but to rebound your strategy off someone who’s walked this road
before—pointing out pitfalls, areas you need to strengthen—this is invaluable.
Someone with a unique, but proven, wherewithal for strategy will push you
harder while also keeping your approach on course.
2. Technology
Technology is playing an
ever-increasing role in small business, and it can be tough to keep up. Tech
helps small businesses gain a competitive advantage by communicating better
with their employees, customers and prospects; saving time and improving
efficiency by automating their processes; and improving business performance through
the use of business analytics. Coaches have the skills needed to successfully
deploy new technology, manage integrations, and consult on the best options for
your unique situation.
3. Management
Coaches and mentors help improve
your management and leadership skills. As your business grows, your role will
evolve into a greater and greater management capacity. Coaches will help you
navigate difficult business problems and decisions, and will help set a
foundation early on to be able to handle some of the big, inevitable,
management storms that lie ahead.
4. Marketing advice
Especially in the early stages
of a small business, the entire marketing strategy and effort falls on
the shoulders of the business owner. Coaches can help you see what you’re not
seeing. A seasoned business coach who has experience with branding, marketing
strategy, and tactics can lift your sales numbers and keep you from spinning
your wheels on what doesn’t work.
5. Grow the business
It doesn’t matter so much where
you are now, as long as you’re clear on where you’re headed. A coach will help
you address the areas of your business that need nurturing to ensure you stay
on track to healthy growth. Perhaps the most important factor to staying on
track is having someone to be accountable to. It’s easy to let yourself off the
hook. A coach can serve as an accountability partner, helping you push through
the challenges to meet your goal.
Bottom line: When you run out of
time in a day to “learn while doing,” or when the margin of error for learning
from your mistakes is gone, you look for expert help to provide guidance and
work through complex problems quickly.
To be clear, coaching and
mentoring is a two-way street. You get the most from it when you put the effort
into the relationship. You still have to run your business, and you’re
responsible for what happens.
As with every relationship, you
can’t expect that there will always be a perfect fit. The small business owners
interviewed for our report warned that not all coaches or mentors were
effective or worth their fees. But they found that the internet made it easier
to find and vet qualified coaches who add value to their firms. These same
businesses went on to say that good coaching was extremely valuable—indeed, was
more than worth their investments in these areas.
The business environment
continuously grows in complexity and at a rapid pace. Keep in mind that as your
business moves through stages of growth, your key business challenges will
inevitably change. Also recognize those new challenges will require changes in
how you manage your business. If you want to stay competitive in the midst of
growth and change, don’t be afraid to ask for help along the way.
Source
https://keap.com/business-success-blog/growth/personal-development/why-you-need-a-business-coach
https://trainingindustry.com/articles/leadership/measuring-the-value-of-coaching-a-leading-approach/
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