Benefits of Hiring a Business Coach
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When you run your own business, it can feel like you’re on an island; a place where you—and you only—must deal with every obstacle and challenge that comes your way. It can be an overwhelming prospect that’s leading many entrepreneurs to consider outside guidance in the form of a business coach. Is hiring a business coach the right move for you? Ask yourself these questions and see for yourself:
1. Are You on Automatic Pilot?
There’s something to be said for routine, but if you’ve been doing the same things the same way with the same results for some time now, a shake-up may be in order. A business coach will challenge your ideas and come at things from an entirely new perspective. He or she can introduce you to new ways of doing things or simply provide a sounding board on matters you’re far too close to to be objective.
2. Have You Hit a Plateau?
You grew your salon from a two-chair operation to a two-location business in no time, but since then your dreams of expanding have floundered. A business coach can look at what you’ve achieved so far and provide insights into what you must do to reach the next level. Sometimes the answers aren’t obvious to you, but to an experienced eye, they may be as clear as day. For other insights into climbing out of a business rut, check here.
3. Are You Stuck in the Gap Between Point A and Point B?
If you know what you need to do to achieve a business goal but can’t seem to take the right steps to get there, a business coach can guide you. For instance, let’s say you run a successful screen-printing shop but feel you can’t survive without adding a digital component. Your coach can outline how to go about it, from vetting equipment providers to getting the word out. When the middle ground turns into a quagmire, a business coach can pull you out.
4. Are You Working Like Crazy but Getting Nowhere?
Anyone can open a business, but not all business owners possess the skills to run a business successfully. It’s okay to admit your passion is cooking, welding, or any other profession, as long as you’re not afraid to ask for help. A business coach can look at your balance sheet, profit margins, vendor agreements—you name it—and provide you with practical advice you can use to progress. For some real-life examples from the restaurant business, check out these episodes of ‘Restaurant Impossible.’
5. Do You Want Help but haven’t a Clue How to Get It?
It takes some self-awareness to admit you need help. The good news is that finding a good business coach is easier now more than ever, thanks to social media sites like LinkedIn, Facebook and Instagram, other resources online, and of course, word-of-mouth recommendations. A good place to start looking is with an online search of ‘business coaches near me.’ You will pay for the advice of a seasoned professional - anywhere from a few hundred per session to a few thousand per month, but the financial commitment can be well worth the payoff.
Running a business doesn’t have to feel like being on an island. In fact, a good business coach can make you and your company feel connected, in touch and ready to succeed in rough or calm waters.