Running a business requires a lot of courage. Entrepreneurship can be lonely and it is filled with a lot of ups and downs. However, there is opportunity at every turn, risk and reward in every move, and it’s certainly not a “get rich quick” venture. This is why many entrepreneurs hire a business coach.
Contrary to the suggestion that asking for help is a sign of weakness, hiring a business coach could be one of the best things you will do for your business.
More than just coaching, business coaches offer a valuable outside perspective. They are able to see bottlenecks and gaps in your business which you aren’t seeing on your own. Unlike your peers or customers, a business coach offers an unbiased view of your company.
A good business coach can:
guide and give insights
become your friend and mentor
help you realize how capable you are
relieve the feeling of being overwhelmed
notice the traits that make you a good leader
push you outside your comfort zone and closer to success
Business coaches understand that many of the setbacks entrepreneurs face is due to inadequate or incorrect execution. They can fix short-term problems and take a long view that is often vague in the presence of challenges.
“Many companies are focused on only today. Those who know to look after not only their organization’s future development, but that of their people are the real winners” says Alan Dobzinski, a leadership and accountability coach.
Here’s a look at 7 practical ways the right business coach can be worth every penny.
1. Time management
When was the last time you took a vacation or a weekend to unwind? A business that doesn’t start operating without your hourly intervention cannot only prove to be stressful, it also hinders strategic growth, revenues and profit. A business coach can help you be more accountable with your time and set up the right systems and processes to make it manageable.
A business coach will devote full attention to you and your business. This also means that he or she will be there for you when you need someone to listen to your ideas. A business coach can offer actionable solutions and asks powerful questions to challenge your thinking.
3. Success management
You just landed a large customer and now you must handle what comes along with that win: How will you handle the moolah and prestige that comes with it? A business coach has quality experiences that can help you handle fast growth.
The popular saying “two heads are better than one” is especially true when you’re brainstorming ideas. A business coach will cultivate your ideas, offer fresh perspective, and help you get results.
There comes a time when you’re neck deep in work. (Wait! That’s your first year in business.) You’ll have a hard time ranking priorities. And despite having a lot to do, you may very well end up wasting days and weeks being busy and not productive. Business coaches are like a co-captain that can help steer the ship and a compass to keep you on course.
6. Passion discovery
Are you experiencing frustration to the point that you’re burnt out and feeling passionless? A business coach can help reignite the fire. A good business coach will seek out the issues behind your frustration, and help you overcome them.
Promises are easy to break when we tell them to ourselves, however if we involve other people, we become more determined and more accountable. A business coach, like a business partner will cultivate your accountability. The end result should be better goal management and resolve to succeed.
At the end of the day, we could all benefit from someone who brings out the best in us and keeps us committed, prepared, and motivated.
This article has been edited and condensed.
Armela Escalona is a blogger, content marketer and editor at Scoopfed.com. She writes for business in various industries such as as tech, health, fitness and real estate. You can connect with @ArmelaE on Twitter.