If you have ever had a coach in your life, you would know the impact of a good coach when the going gets tough. They push you to your limits to help you achieve your goals. Business coaches are not only people successful business professionals; they have a genuine passion for helping people in need and to share their knowledge,
What to expect from a business coach
Business owners seek advice and council from a number of different sources such as solicitors from whom they seek advice and guidance. It would be fair to say that a contractual or legal issue would involve the input of a solicitor as legal advice is generally very specific. Many business owners when they have an issue which they have not come across before often seek advice from their immediate friends or relatives. Often these family and friends have less knowledge than the business owner and provide their solutions based on their own experiences, which often are from an employee viewpoint. Due to this lack of practical experience they tend to impose certain limitations on the business owner’s capabilities. They do this to protect them from risk, rather than to look for the opportunity. Thus, the regular people with which business owners usually interact and seek advice from on a daily basis, regularly project their own ideas, opinions, agenda and fear into their mind. Here is where a Business coach differs from other advisors: their one and only agenda is the benefit of the client.
Owning and operating a business is not an easy task and hence business owners often feel they are getting bogged down in a particular part of their business. That area of business may be affected with cash flow shortage, low sale rate and almost non-existent profits. When the business is not running smoothly, it is a matter of concern for the business owner and it causes a lot of stress, frustration and doubt which eventually lead to less clear thinking and potentially faulty business decisions. Here is where the business coach comes in, by helping you deal with your stress and concerns, they will provide objective advice to help propel your business in a way you never thought possible. They will objectively point out the strengths and weaknesses in your way of running the business, help you bridge any gap in your business model and rekindle your business fire. With the proper suggestions, advice and guidance from your Business advisor, not only will you have a better bottom line, but your quality of life will improve too.
A Business Coach can help you in certain specific areas of business
- General Planning: The main role of a Business Coach is to plan out your business. A business coach will help you in developing the strategic planning as well as general administration and employee issues. It is great to have a business advisor, who is well versed in the day to day running of the business, to help you to formulate your overall business plan.
- Marketing Strategy: Marketing is one of the most important aspects of business and if your products and services are not properly marketed then you will not meet the kind of market share you aimed for and this will negatively affect your business. Your business coach will help you develop and implement a strategic market plan which will maximize your market share and profits. It doesn’t matter how great your product is, if no one knows about it you won’t sell any!
- Financial Planning: Another important aspect of business is financial planning. A business coach will help you manage your finances, redirect the profits into business, pricing strategies and Cash flow management. However, a business coach is not a tax advisor and hence cannot help in that field.
A Business coach will not provide you with false hope, nor will he discourage you from taking a bold but calculated step in your business. When you are with your Business coach, there are no limitations to do anything, neither self-imposed nor coach-imposed.
A Business Coach listens to all your problems, both professional and personal patiently, and you can be assured that all that is discussed is will remain confidential. So, if you are facing problems in your business or are suffering serious losses, then it is a good idea to consult a good Business Coach and seek professional help. They will help you to reach your full potential through encouragement and effective guidance.