What do Richard Branson, Steve Jobs and Google co-founder Larry Page have in common? They are not just three of the most successful entrepreneurs of recent decades, but they are also prime examples of the benefits of business coaching.
Branson, Jobs and Page all received outside support from some form of coach or mentor at a relatively early stage in their careers – and this invaluable outsider perspective has been credited by each man with helping them achieve a greater level of success. A survey carried out recently by the Federation of Small Businesses, for example, found that the five-year survival rate among companies which had used some form of coaching or advice was 70% — twice as high as the rate among all firms.
How can business coaching benefit me and my business?
Running your own business can be one of the most exciting and fulfilling experiences out there. There is nothing like it. You get to design your future, make your own decisions and enjoy the spoils at the end of the year. It’s a journey, and like any journey, there are set backs, ups and downs and new paths and experiences to navigate.
Working with a great coach is like having a guide alongside you on your journey. Someone to help you work out the best route, someone that can give you that extra push when you need it most, someone you can talk to when you need to make sense of what’s in front of you, in order to move forward.
Clearly defined meaningful goals
Many businesses either fail to get to the next level, or take too long to get there, because the leader of the business lacks the clarity of where the business is going in the long term. The day to day tasks and demands snow ball over time, and the reasons why they started the business in the first place evaporate.
Coaching will help you take a step back and reassess where you are going and why. Most of the clients I work with find the focus that coaching gives them extremely valuable. Business does not have to be complex. Clear, meaningful and relevant goals are useful filters for making decisions and allocating resources.
The quality of leadership in your business will have a direct impact on your company’s ability to grow and scale effectively. Leadership is a skill that needs developing and improving. Effective coaching will help you increase self-awareness, identify helpful behaviours, and give you the tools you need to get the most out of your people.
Business owner freedom
That elusive business that works without you. Most owners go into business because they want to have a better lifestyle. They want nice things and the time to enjoy those things. The reality is that most businesses are supper dependant on the owner. Many work long hours and sacrifice time with family and friends to keep the business going.
It doesn’t have to be this way. I help all my clients structure their businesses in a way that enables them to get their lives back. If you want to sell your business one day, or would like to have the time freedom to do what you want, when you want, your business must become an independent entity
A great coach will help you achieve faster, more sustainable results. Coaching gives you focus, but also creates a powerful momentum that ensures you make steady progress on a weekly basis towards the growth and development of your business. It’s that hour a week, where nothing else matters except your long-term goals and your performance as the business owner.
In addition to creating momentum, an experienced coach will have a wealth of tools, frameworks and processes that you can adapt and use in your business to speed up implementation.
Consistent sustainable growth
There are specific principals and fundamentals that every business must implement to ensure that operational stability supports sales growth. Coaching helps you understand how to balance internal efficiency and sales effectiveness, so that you have good levels of cashflow and stable margins as you grow and scale your business.
All of my coaching is done on a 1-1 basis and is completely bespoke to each client I work with. To have a conversation about how coaching can help you take your business to the next level, click below.