No one has ALL the answers. Not even the most brilliant business person! The challenge of owning a business is that you started it thinking you could do something better than most. You also have a personality that lends itself more toward leading than following. You may not always work well with others and you might think you know it all. While those traits can help, they can also hinder your success.
Sometimes it’s vital to get help to save your organization. There is no shame in asking for assistance, especially when NOT doing it may mean ruin. Here are 11 great reasons to hire a business or sales coach:
1. Your leadership style isn’t working
Often leaders aren’t warm and fuzzy people. Teambuilding may not be natural to you. Giving orders is easier. A business coach can help you identify your leadership style and assist in tweaking it to be more effective.
2. You haven’t identified your limitations
Everyone has things they don’t do well. Your marketing skills might be genius, but your financial management is not. A business coach and help identify what your good at and what you should delegate to others. Organizations need a broad range of specialists to succeed.
3. Sales are slower than they could be
You can have the best widget in the world, but if you don’t know how to sell it, you will fail. I see it in the restaurant business all the time. The food might be phenomenal, but no one knows about it. Salesmanship is an art with many forms. Few people are born with natural talent for sales. It must be taught.
4. Employee turnover is high
A great business coach will talk to the staff and find out what’s going on. There may be things you haven’t a clue about. They may be afraid to talk to you. They may not even be aware of the specific problem themselves. Losing good people and having to train new ones is very expensive and loses customers along the way.
5. You’re behind in industry updates
Everyone gets bogged down in their own organization and they don’t pay close enough attention to what is going on with the competition. A coach works with businesses just like yours all the time. A great coach brings ideas from other places and helps you incorporate them.
6. The limitations you set are your own
Sometimes we don’t set high enough goals. Insecurity can limit your success. An unbiased coach can help you look beyond the obvious. At the same time, there might be actual reasons to slow the growth of your company. You may not even be aware of what others see as obvious.
7. Changing trails
Opportunities present themselves daily in business. Salespeople bring marketing ideas, your landlord may have a larger space open, a new product may save you or send you spiraling. Getting a new pair of eyes in the picture clarifies the direction to head. Don’t go there without advice.
8. Preventing “fires”
Many business owners are so busy putting out fires that they don’t prevent them in the first place! In my many businesses, I created systems to prevent a problem each time one presented itself. It was hectic and took a lot of time, but the future challenges it prevented was key to our success. Forms, systems, delegating and maintenance are an important part of a well-run business.
9. Understanding new technology
The internet and social media are changing so fast that it takes an expert to keep up. Your organization can be in deep trouble if your target market is no longer using the mediums you have chosen for advertising. Your website and SEO are critical to success. Understanding the new ways people watch television takes time. The average 15-year-old knows more about it than the average 55 year-old. Don’t let kids embarrass you. Hire someone to enlighten you.
10. The money isn’t there
On the surface you may seem busy, but at the end of the month there is still no profit. A business coach knows what to look for. Money loss can be happening with out of control labor costs, pilfering, production waste or even fraud. Your percentage must work out for a business to succeed.
11. You’ve lost confidence
You started your business with high hopes and felt very sure of yourself. After a few years that confidence has eroded. Where did it go? The day to day stress of owning an organization, dealing with cranky customers and bickering staff can wear you down. We know. We’ve been there. That is exactly the time to bring in the cavalry and set to work rebuilding what you had. Don’t wait. Get some help!