8 Reasons You Need a Business Coach
While small businesses may be able to launch and survive for a time on pure talent alone, those skills that enabled you to start your business –will not help you to scale. That requires a whole different set of skills, and a different mindset too.
I’ve got something to tell ya: simply having the best skill set doesn’t mean your business is destined for success.
“What?” You’re probably thinking, “Of course it does! In order to succeed, you need to be the best, don’t you? Or at least better in some way?”
But while being skilled in your craft is certainly important, these skills alone will only take you so far. They’re enough for you to get your business started, but they’re rarely enough to carry you on through the growth and development stages –which is where many startups run into trouble.
This is where a good coach comes in.
Business, just like sports, is highly competitive. Like athletes, business owners often need a little help to achieve their goals. Talent alone isn’t enough. The best NBA teams all have coaches who are pivotal to their team’s success.
Even basketball legend Michael Jordan and his team were able to benefit from the help of a great coach. On the court, Jordan was amazing –a superstar. But while his skills alone were enough to astound a crowd, it wasn’t enough for the entire team to win a championship; that required a “team before me” approach –something that head coach Phil Jackson would emphasize. He brought an outside perspective and insight that helped the Chicago Bulls to recognize problems that were holding them back, and inspiring them to achieve greatness together –as a team. Ultimately, they would go on to win six championship titles over the following eight years.
Coaches aren’t afraid to call you out, and the best ones have a proven method of success. Their insight and skills can help you to harness your skills, refine your goals, and scale your business; taking it to the next level.
While small businesses may be able to launch and survive for a time on pure talent alone, those skills that enabled you to start your business –will not help you to scale. That requires a whole different set of skills, and a different mindset too.
My Own Experience With a Coach
A few years back when I was running my PR agency, I hired an agency coach.
At the time, the thought of hiring someone just to listen to me seemed like a waste of time and money. After all, his group program was $25,000 a year; a steep price to pay, especially considering that I was more skeptical than excited about paying that much for some advice.
I thought I was paying for a glorified cheerleader. Boy, was I wrong.
After our first conversation –yes, THE FIRST CALL, I had already received $15,000 in advice. He advised us on two things: 1) our sales process and 2) client contracts. What took 30 minutes to update ended up saving us $15,000 in potentially lost revenue and some possible contractual issues as well.
So I’ve seen firsthand the value of a good coach or mentor. Sure, spending money in the present to prevent lost money in the future may seem counterintuitive (that’s what insurance is for, right?), but coaching isn’t just about saving money –it’s about opening up your full potential and helping you to scale your business to new heights; beyond what you’d be able to do on your own…and it’s great insurance :)
Having been on both sides, both as a student and now as a business coach for women, I’d like to share with you my top-eight reasons that you’ll want to consider hiring a business coach –today.
8 Reasons to Hire a Business Coach..
1 - They’ll Help You Banish Imposter Syndrome
Of the 100+ women I have either worked with or surveyed over the last few years about starting their dream business, one of the most common issues that surfaces is mindset issues, predominantly imposter syndrome.
Imposter syndrome is a psychological pattern where we doubt our skills, talents, or accomplishments, and therefore have a constant internalized fear of “the truth” coming out and being exposed as a “fraud.”
This is something that most of us struggle with. But it’s also extremely toxic, and one of those things that’ll hold your company back and stop you from reaching your full potential.
This sketch from New York Times columnist, author, and financial planner Carl Richards illustrates imposter syndrome perfectly.
(Source: Carl Richards, New York Times)
As entrepreneurs, we have a tremendous sense of resilience and drive, but at the same time, we’re used to being resourceful and making things work. As such, when we climb the ladder, it’s often through sheer determination and hard work. But once we reach the top, and look out at what we’re doing, that fear of heights sets in, and we’re immediately plagued with self-doubts. “Woah, what am I doing here? How did I even get here in the first place? Do I even deserve to be here? Am I a fraud?” At the end of the day, though, we are our own worst critics. And the ever-present threat of being “caught out” will only hold us back.
What we need is an outside voice to provide validation. And to all of you entrepreneurial-minded ladies out there, working with a good business coach for women can help you to hone in on your skills, and value –while at the same time highlight problem areas that may need to be rooted out. This will help you to refine your perspective, and set your sights on greatness –which will free you up to focus on not only scaling your company but also unlocking your full potential and achieving things that you may not have thought possible before.
See also: How to Kill Imposter Syndrome.
2 - They’ll Help You to Create an Integrated Life
It’s easy to think of “balance” as one of those things that might be nice to have, but could go on the back burner until a less-busy time. But actually, balance is something that you should work on incorporating right from the start. Balance is absolutely crucial, for your health and wellbeing and also your success. A schedule that’s too work-heavy, can quickly lead to burn out, which is what happens to many, many startups.
The secret is working to create an integrated life. This means incorporating all of those important elements in your life –family, health, happiness, and your business –into your everyday routine and ensuring that you’re able to prioritize those things that matter most.
Leading an integrated life may require a dash of creativity, as often the solution lies in mixing business with your personal life –while still maintaining boundaries and being flexible.
A good business and life coach will encourage you to find balance –and emphasize the importance of relationships and self-care. When we’re operating at our best, we can put more into our professional work, and our families –and as a result, we’ll be happier, more fulfilled, and able to keep going much longer –no chance of burnout!
See also: Seven Ways to Live a More Integrated Life
3 - They’ll Help You Establish a Vision and Goals
What’s your “why?” Your reason behind growing your business? Coaching helps you to uncover this, which could be anything from creating an impact to earning more passive income, buying back your time, leaving a legacy, or building generational wealth. The vision, your why, helps to control jumping into something you can’t handle. A good coach will help you to establish your vision first, create goals, and outline tasks that you or your team need to do to get there. These three steps sound simple on the surface, but they’re packed full of actionable steps in and of themselves, and absolutely crucial for your success.
4 - They’ll Keep You On Track
Accountability is hard. Especially if you’re flying solo at the top of your business with no co-founder or advisor to lean on. A business coach can point you in the right direction. They’ll also provide some much-needed accountability to help you ensure that you stay on track; making progress and working toward those big-picture goals.
5 - They’ll Help You to Refine Your Strengths
As entrepreneurs, outsourcing is something many of us struggle with. This is especially true if you are bootstrapping your business –where every new endeavor feels like a cost-cutting exercise. But while doing everything yourself can work in the beginning; long-term, it’ll actually hold you back from growing. This is because you’ll only be able to expand as your time allows –which, as we all know, is something that’s in short supply.
A good coach will help you to focus on your strengths, and hone your skills that are essential for the growth and development of your business. But at the same time, they’ll also help to highlight weaknesses that you can outsource, ensuring that your skills are put to the best use possible.
We spend a lot of time trying to turn our every weakness into strengths. But this may be a waste of time. According to a Gallup study, employees who were allowed to exercise their strengths were more committed to their work. The same concept applies to the entrepreneurial world as well. You don’t have to be a master of all to succeed in business.
A business coach helps you manage against weaknesses so that you are effectively using your superpowers –on the right things.
6 - You’ll Get First-Hand Advice
When you enter the business world, you’ll quickly realize that finding free (and unsolicited) advice is easy. Everyone will have an opinion for you. But finding good advice –will prove to be a lot more challenging.
The best advice, though, comes from someone who has successfully done it before.
Experience is one of the best teachers and a business coach is one way to capitalize on someone else’s experiences. Business coaches can help you avoid major mistakes, saving you from having to learn everything the hard way yourself. Capitalize on their experience, and save yourself a world of hassle, accelerating your business’ growth far more quickly.
7 - They’ll Enable You to Reach for More
Anyone can ask for more, right? Well, yes –of course they can, but for most new (and even plenty of experienced entrepreneurs) it’s not something that comes easily. The truth is, we often undervalue ourselves, and therefore have a hard time charging more for our services. But having a professional in your corner who can help you identify your strengths and reminding you of the value that you bring to the table can help you to see your services in a new light, giving you the confidence that you need to position yourself as the professional you are.
8 - They’ll Help You Turn Your Ideas Into Reality
Many entrepreneurs are under the impression that finding a winning idea will be their key to success, but ideas are only a small part of the equation. At the end of the day, success is in the execution of the idea; in the consistent action that’s applied to bring those ideas to life.
This is where an experienced coach comes in. A good coach will have the experience and know-how to help you make those ideas a reality. Seeing a clear path from point A to B, and helping you to chart the steps you’ll need to take to get there. It’s what they do.
As an entrepreneur, it’s easy to feel like you need to go it alone, but that’s not the case. We all need someone in our corner, not only rooting for us, but also pointing out the way. Having a business coach can be the way to take your business from small to medium –and beyond. Outline your goals, find a good business coach who comes highly recommended, and then book in a consult call. There’s nothing stopping you from making your dreams a reality –so start putting your plans into action today.
Are you ready to start benefiting from a tailored coaching plan? I’m passionate about helping entrepreneurial-minded ladies to identify their specific business goals and develop an action plan to make those dreams a reality. Get in touch with me today for your FREE consultation.
Header Image credit: Avel Chuklanov (@chuklanov)
