If you’re reading this post, there’s a pretty good chance that you are still struggling and perhaps haven’t yet thought of getting a business coach, or perhaps even a mentor (yes, there’s a distinction between the two). Commonly, businesses that have not found a business coach or a mentor haven’t done so because they believe it’s a costly relationship they can’t afford.
No matter what stage your business is at, a business coach can help. They can make you work harder, be more accountable, keep you consistent (and we all know that “consistency is KEY” and progress faster than you would on your own.
How long have you been spinning your wheels in your business? I know from where I speak, because I’ve been there!
The truth is, this is a relationship that you can’t afford to do without.
However your small business got its start—maybe it was just you doing everything, maybe you’re one of a bunch of nerds who had a great idea and a modicum of business savvy, or maybe you took over a business started by someone else—whatever your story, you probably look like most other small business owners in this one regard: you’re driven by your vision and it’s got you working your tail off to keep the ship afloat and on course. You do this with a combination of intuition and management hacking. At this point, you may even say that your best lessons learned come from your mistakes. But at the end of the day, you know what’s best for the business because it’s the product of your vision.
But does the “go-it-alone” spirit always result in the best for your business?
Here are 10 reasons you should consider a business coach:
- Start-up entrepreneurs and seasoned business owners hire coaches for the same reason: to receive advice and shortcuts. This means that a coach can guide and give you the tools and tricks that they’ve tried, used and succeeded with.
- Business coaches can provide an outside perspective. They can be a sounding board for your ideas and help you compare and decide which ideas to use.
- Business coaches have the talent to help you create change in your business, overcome sticking points and overall help you grow your business.
- Business coaches will help you go out of your comfort zone. Especially for those entrepreneurs who are introverted, you can get caught up in the details that won’t necessarily move your business toward the profit line. A business coach will help you try new things (like going on video!), meet new people, and generally help you come out of your shell!
- You will have a business best friend. You will get the attention you need from someone who has learned your business inside out. There isn’t a lot of times where you have the pure focus of a person for an hour talking about your business and giving you a finite number of steps to take to take your business to the next level.
- Your networking opportunities will grow. The more you are involved with like-minded people, the more you will learn and be successful. As an entrepreneur I have been introduced to more people than I ever thought possible, and the best part of it is that I have a whole group of new friends who are there just to encourage me and give me new ideas.
- You’ll develop self-confidence. I will be the first to tell you that starting your own business can give you many bruises to the ego. The biggest pro of having a coach would be that you always have someone in your corner, to build you up and help you achieve your goals.
- You will see increased productivity. Professional coaching will maximize your potential and therefore unlock a source of productivity you may have not known was inside you.
- In line with increased productivity, a business coach will show you how to get more returns with less work, managing your precious time effectively. Never has there been a time where this is possible. The internet has made true automation in business accessible to everyone!
- Finally, the best benefit is that a business coach can help you make more money. A good coach will help you make more money because every good coach has a process. With your coach, you can find your strategy, hone it, and start making a profit.
Who doesn’t want that?
Business coach vs. business mentor: What’s the difference?
Before we dig in deeply to why it’s important to hire a business coach, we need to touch briefly on the difference between a coach and a mentor. Both are extremely valuable assets to small business owners.
Business mentor: A business mentor, primarily, is relationship-oriented (therefore a long-term commitment) and won’t charge a fee. Mentors tend to be concerned about the growth and success of the business owner as an individual. Their first role is to listen to the goals, dreams, and challenges of running the business, and to provide wisdom and advice that will shape both the individual business owner, as well as how he/she runs the business.
A mentor really is a must-have for any small business owner who wants to grow and run a successful business, especially given that mentor relationships cost nothing more than the time it takes to meet with them. Nonetheless, a mentor is not a substitute for a business coach. They each accomplish very different—very necessary—objectives for your business.
Business coach: A business coach helps your business tackle specific tasks and objectives (for example, helping through the process of bringing on a business partner, or managing a software implementation). The coach helps set the objectives, determines the number of sessions needed to meet the goal, and charges a fee for the service. The relationship with a business coach is most often short term, and you could make use of several different coaches over the life of your business.
Business coaches, too, are must-haves for small business owners. But when many entrepreneurs see that fee, they cringe. The gut reaction might be to hunker down and solve the problem on your own, just like you’ve done for so many other areas of your business. But don’t worry about how you can’t afford to hire a business coach because the truth is, you can’t afford not to hire a business coach.
Don’t get caught up in the hype. What is going to work best for you might not necessarily work best for someone else. It’s all about finding your tribe and trusting in someone to help you. There is also the issue of cost. Not many of us would have the money to hire Neil Patel right off the bat! But that doesn’t mean you can’t start somewhere and scale up. We tell our clients to start simple and avoid getting stuck on the little stuff. Implement and move forward, and tweak along the way!
Whatever you decide is best for your business, consider your business goals and take your first step! You are completely right to continually re-evaluate your needs as you go along.