How R300 with a business coach can save you money
Velly Bosega
Founder/CEO at Adclick Africa & SME South Africa, transforming the digital media landscape.
I get it. You are an entrepreneur, money is tight! There is a way to get the guidance you need from industry leading professionals who have years of experience and knowledge that they are waiting to share.
Here are the ways that spending R300 on an hours’ consultation, will save you in the long run and is a great investment to get your start-up off the ground:
1.??????Avoid costly mistakes
A business coach has the experience you can tap into to avoid making the same mistakes that most entrepreneurs make when starting out.
When I was expanding Adclick Africa, I spent a 2-hour consultation with an HR expert to assist with my recruiting processes. I got advice on how to identify if a candidate would be a good fit for the company and where to recruit them. If I hadn’t had this consultation with someone with HR knowledge and experience, I would have cost my own business three people’s annual salaries by hiring the wrong people. Not to mention the impact of a high staff turnover on my company culture. It can be a hard knock-on effect.
A business coach can look at your financials. It’s a fine art to create a revenue stream and balance your expenses. You need to create this synergy for your start-up to become profitable. They will look at how and where you are spending and advise you on ways to approach it in a better way.
2.??????Set up systems and strategies
By speaking to a professional, you can discuss your vision for your start-up. Where you want it to be and map out the steps on how to achieve it. Essentially, solidify your business plan. They will take inventory of how you see your business working, identify the areas that are working and help improve those that aren’t.
Business coaches can advise what technology you should consider, where to invest and how to apply for funding. They can also help build your case for potential investors.
3.??????Speed up the amount of time you would have taken
Whether you speak to a marketing guru, business coach, lawyer or financial advisor, each person has a unique set of skills and experience in their fields. Their knowledge and insights save you time researching the best approaches. As an entrepreneur, you don’t have the time to dedicate yourself to knowing every area of every expertise.
A business coach saves you time in giving accurate advice to avoid mistakes and testing.?Freeing up your time to focus on your product development and operations of your small business.
4.??????Hold you accountable to achieve your goals
What is the point of setting goals if you don’t take the actionable steps to achieve them? Not only will a business coach guide you, but they will hold you accountable to achieving your objectives as well. This encourages entrepreneurs to step out of their comfort zone and work towards getting their start-up off the ground.
“Velly’s listening and probing questions made me believe that we are in safe?hands of taking our business to the next level. With his questions?I was able to explain exactly what I needed and how to achieve the desired outcome.”- Taule?Motehuli, Entrepreneur
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5.??????Opportunity to network
Business is about building connections with your audience, stakeholders, customers and other business professionals. A business coach can help you unlock the potential of your network and theirs. The support of a community is vital for an entrepreneurs’ growth.
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When to hire a business coach
1.??????Entrepreneur or Side-Hustler
If you have an entrepreneurial spirit and want to create a second stream of revenue while you are working full time. A business coach can be there to bounce your ideas off, tell them your ideas and perhaps even receive some guidance on how you can grow your side-hustle enough to leave your full-time job and be your own boss.
2.??????Starting up a business
A business coach can give you the confidence you need to get your startup off the ground. They can advise you on your go-to-market strategy, assess your cash flow and expenses and clarify how you can achieve your strategic objectives. By defining your business plan,
3.??????Scaling your small business
After all the work you have put into building your SME, you don’t want to expand too quickly or with the wrong approach. A business coach can help streamline your processes, assess the best way to scale your business and ensure you remain profitable. Let a person with experience give you insights into what you should be looking at.
Typical questions I get asked by entrepreneurs, start-ups and growing SME’s as a business coach
Often entrepreneurs use Google as their go-to resource. Not only is this time consuming, but you can quickly get overwhelmed with articles and insights and you don’t know which way to turn. A business coach can help you tackle your challenge head-on and help you overcome it. They will know exactly what you need to do for your unique business and be with you every step of the way.
If you would like to chat to myself, or other South African business coaches, join Startwise. It’s an online consulting app and platform where you can connect with experts (who have over 10 years’ experience) and book a consultation. Chat to them through the app! You won’t regret it.
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Freelance Digital Online and Social Writer, Content Manager
3 年Interesting read. I liked that you mentioned how business consultations saved you a lot of money on the long run - that part about sitting with an HR consultant and saving money on a whole year's salary. That's a lot and a very good example.