I’m often asked by business owners what I do. And while I prefer answering that question by showing them rather than telling them, I thought it would be helpful to post a white paper that is included in the coaches binder that we give to our clients during the orientation session. This paper outlines quite nicely the primary role that a business coach provides to the company.
Most business owners think a business coach is not for them. But then, most new business owners fail. The attrition figures are scary. One third will go bust in the first 2 years, half within 5 and two-thirds within 10 years. You know the very definition of business coaching? It is to guide entrepreneurs to achieve better results. Every entrepreneur needs someone in their corner, a confidante and professional counsel to support them when times get tough and to cheer them on when things are rolling.
It is all in the name, COACH…
C is for confidence.
Your business coach will help you clarify your vision for your business. They will be your confidential sounding board as you develop and put in place your business plan. From their experience they can guide you to more confident decision-making and true visionary leadership of your enterprise. Your business coach cares about you and your success and is committed to helping you fulfill your ambitions and dreams. There is no hidden agenda; they only care about your success.
O is for objective.
Your business coach is an objective, outside observer. They will guide you with suggestions and timely feedback to achieve better short, medium and long term objectives. Smarter objectives will ensure you stay focused on your vision. All businesses are acts of creation and happen in two parts. First they are created in your mind, through your vision and secondly they are created in reality. All too often new business owners, micro‐manage the parts of a business they feel most at home with. Your business coach will prompt you to step back and look at the ‘big
A is for ask.
Your business coach will not impose ideas or solutions on your business. That is the role of specialist consultants, rather they will ask you the right questions at the right time to clarify your thinking, your ideas and guide your actions. As an entrepreneur you are the conductor of your own orchestra. You may think of yourself as violinist or timpanist, but when you start a business you must step out of your comfort zone, take on new responsibilities and learn new skills. Your business coach will remind you of the baton when you reach for the bow or the stick. They will be your teacher in this daunting new position, up front, taking the lead, achieving total harmony.
C is for cash.
Cash is the lifeblood of business. All businesses that fail, do so because they bleed to death through insufficient cash flow. Turnover is vanity, profit is very nice but CASH IS KING. Your business coach will ensure you always have your finger on the pulse of your business, that you don’t procrastinate or focus only where you feel comfortable. Your business coach will be your cheerleader. There will be tough decisions, long hours and hard work. They will support you, encourage you and listen to you when you need someone to be on your side. The bottom line – bring in more cash.
H is for honing.
Nobody gets better at anything without quality feedback. Think of your driving skills! You were never better than when you qualified for your license and you’ve been slipping into bad habits ever since. You can’t afford bad habits when driving your business. Your business coach will guide you to hone your management skills, to develop professionally, as you get the job done. When you are sawing wood it is essential to stop regularly and sharpen your saw. Decision-making, planning and organizing, delegating, leading meetings and time management are just some of the key saws for the business leader. They all need regular sharpening.