The most important reason every business should have a business coach is that there are always things that you are not going to be able to see or think of that an outsider with an objective opinion can observe. A business coach can warn you of challenges ahead, so you can prevent them by good planning. Your coach can also help you plan ahead to improve income and efficiency. When you look toward the future and take steps proactively, you are more prepared for what may come next. Coaching can help you get more organized and see where any inefficiencies are impeding your growth, collections processes or expansion. Business coaching can help you analyze what is standing in the way of the business you want and improve the business you currently have. It can also help provide steps for you to achieve what you seek to change.
The second reason to have a business coach is because it helps you financially. Your current revenue base can be assessed and budgeting can be suggested. Systems to improve effectiveness, cost and output can be put in place. Further income streams can be analyzed for their appropriateness and return on investment. Investment strategies are looked at as well as operating costs, including expenses, equipment and personnel, to make the improvements necessary to increase your cash flow and profit margin. Many businesses have difficulty with collections and run behind in their monthly income. New systems can replace old, outdated ones to create a more current, streamlined business.
Reason number three is that a business coach provides wisdom, experience and guidance to support an owner to make the best, most lucrative decisions for his or her organization. Possibilities are analyzed and the best options are determined for the most cutting-edge and financially sound plans and action steps. Many entrepreneurs are “solopreneurs.” They function alone and make very important business decisions without other input or thoughts on the matter. This type of system can be very closed and doesn’t open one to all of the possibilities available to the sole proprietor. Group and team planning can add inspiration, creativity and new dimensions to an already existing company. New thoughts create a new vision and outcome. As they say, “If you do what you did, you will get what you got.” Sometimes there is need for a change and a good, positive outcome.
The fourth reason is that your business coach can help you and your employees on a personal level. A happy CEO is a good CEO, and one that is more effective. The same applies to the employees. A business coach will first focus on the management team of the company, and then other staff can be included as well. Are they in optimal health or do they need to take better care of themselves? Are they stressed out and do they have coping mechanisms for problems and difficulties? Do they know how to handle work-related upsets in a masterful way, or could they use some education, support or skills in that area? It is never too late to learn, and everyone can benefit from added insights, knowledge and motivation.
Lastly, a business coach can help you with your vision and mission. What is the purpose of the company? Do you want to change and be greener? Would you like to have your company make a larger difference in the world? What groups would you like to support to make your corner of the world a better place? Do you give back regularly? If you do, congratulations for your time, energy and efforts. If you would like to do more, that can be planned as well. If you don’t currently add the value to your field or others that you would like to, new goals can be realized and can come to life from your commitment, thoughts and words. Do you want your company to stay the same with the same complaints and issues, or are you ready to take it to the next level?
Source: Business Coach Katrina Greene, MSW, of Successful Business Coaching. For a free telephone consultation, call 631-567-0008. For more information, visit SuccessfulBusinessCoaching.com. See ad on page 12.
