Are You Winging It?

With an abundance of information available on the internet today, you may think it’s unnecessary to have a business coach or mentor. You can learn from great minds and experienced entrepreneurs on YouTube, from podcasts, and through online courses. Many entrepreneurs do just that. It provides a diversification in the content they consume and perspectives they consider. And yet, a mentoring relationship provides something that these online resources can’t – "customization".

A one-on-one relationship with someone who can advise you, your company and your professional career specifically can make a significant difference in your success.

Entrepreneurs With a Business Coach Report Greater Business Growth

It’s true, a business coach can help you raise your bottom line. Because of their own entrepreneurial experience and their objective perspective, they can see where you may be draining cash, or spark ideas for new business models or initiatives to contribute to business growth.

Using this knowledge, if one of your goals for this year is to grow your business, seek a business coach who has historically scaled companies or successfully implemented growth hacks within their business. It typically comes down to a few key adjustments that can increase your company’s profits and number of customers.

A Business Coach Can Help Your Business Stay Afloat Far Longer

The average lifespan of a startup is only 20 months, or one year and eight months.? While the reasons for a company’s failure differ, the top reasons include no market need, running out of cash, not having the right team, or being outcompeted. These are all scenarios that a seasoned business coach can anticipate and help you to navigate.?

A coach holds you accountable in a way that your team can’t. Because they can see what’s going on from a bird’s eye view and they aren’t in the trenches with you, they can provide the insight and motivation that’s missing, thus prolonging your business’s lifespan. Additionally, business coaches have the foresight for the challenges ahead in your business because of the hindsight they have from their business ventures. This is why it’s advised to find a business coach who is at least a few years ahead of where you want to be in your business.?

Business Coaches / Mentors Can Teach You How To Be A Top Performer

Top performers or highly efficient entrepreneurs usually follow a specific routine or adhere to high-performance habits. Not only can a business coach share with you what those habits should be, but they can also hold you accountable to them.?

TechCrunch shared that?33% of founders?who are coached by successful business owners go on to become top performers themselves. If you lack clarity on how to structure your days, weeks, and months for top performance, a Business Coach / Mentor who has aced productivity and efficiency can guide you in the right direction and help you create a schedule that promotes your best performance.?

There are several self-help books and online resources that can help you create a morning routine, or that may note specifics of how to create a performance-driven schedule. However, a Business Coach will be able to assess your specific responsibilities and help you create a routine that is specifically custom-made for you based on your personality and work habits. It's simple really.

Write down what you like to do, and Write down what you don't like to do. It's simple really. Your Business Coach will ask you questions to uncover the root cause and from there your business coach will take you through the steps for success.

One of the significant advantages of having a Business Coach is their ability to provide tailored advice and guidance based on their own experiences and expertise. They can offer insights into your business model, identify areas where you may be struggling or draining resources, and suggest strategies for growth and improvement. This individualized attention can make a substantial difference in your business's bottom line.

Additionally, a Business Coach can help your business survive and thrive in the long term. The high failure rate of startups underscores the importance of having someone with experience who can anticipate challenges and help you navigate them effectively. By leveraging hindsight, as an owner, now a Business Coach, can provide foresight and help you avoid common pitfalls, such as running out of cash, lacking market fit, or being outcompeted.

Business Coaches also play a crucial role in personal and professional development. They can help you hone essential skills, provide feedback on your ideas, and challenge your assumptions. A business coach can guide you in setting goals, tracking progress, and staying accountable, fostering your growth as an entrepreneur.

Moreover, a business coach can share the knowledge and habits of top performers, helping you improve productivity, efficiency, and work-life balance. They can assist you in creating a customized routine and a schedule that aligns with your unique responsibilities and work habits, ultimately promoting your best performance.

While finding the right business coach may require networking and trial and error, the investment of time and effort can yield significant dividends. A successful coaching relationship is built on shared values, a personal connection, and mutual respect, which can contribute to a fruitful and impactful journey as an entrepreneur.

In conclusion, while online resources offer a wealth of information, the personalized guidance, customized advice, and support that a Business Coach provides can make a substantial difference in an entrepreneur's success, business growth, and longevity.

Give me a call if you would like to hear more about my FREE Business Coaching service. That's right, it's free. It's my turn to give back to an industry that has given me so much.

Thank you, Frank J Blau, Jr. for being my business coach/mentor/great friend. It's my turn to give back.