Most businesses usually have one of two problems: they have some form of issue with their cash flows, or they do not have enough time. Yet, financial freedom and lifestyle were usually the reasons why they got in business in the first place. Sometimes it is even worse, some business owners working more than they were as an employee and making less money, just working to pay salaries and collect taxes for the government.
Business owners can sometimes feel lonely and find it hard to find someone to talk to about their business and who understands, is not biased and does not have an overly specialised view. Just having the confidence that someone can be a sounding board when it is time to make critical decisions, and help you by asking you the right questions can make a huge difference. A coach is also here to keep you going when you feel things are not going as planned so you grow and make your business stronger in the process. Consistent action is key and accountability and support helps.
I personally compare a coach to a GPS: first you find if you have the right vehicle for the destination and what needs to change or improve, then you get clear on where you really want to go (this might sound simplistic but it usually gets forgotten, or was never done properly in the first place), and you get the checks to make sure you are actually heading where you are supposed to, with the occasional input on going for shortcuts or avoiding major issues.
A good goal to achieve would be to make sure that your business is always in a position to be sold easily any day of the week. That is what is called starting with the end in mind. That means it is consistently producing cash flows and profits and it is leveraged and systemised so not to rely on the owner.
If you feel you do not need a coach make sure you do a few things so you can give yourself a chance to be successful anyway: set aside half a day a week where you work on the business ONLY, find ways to keep yourself accountable, and make sure you test track and measure everything you do especially sales and marketing.
Next time we will help you to pick a business coach and tell you what it is you need to look for. We are committed to make you succeed and we will provide more content to get you on the right track.
Post written by Fabrice Beillard