7 Ways How Entrepreneurs Use Business Coaching to Ensure Their Success
How would you create the best, most profitable version of your business that you can?
Well, there are two possibilities – the DIY, go it yourself route, or… the get help and assistance path.
Which one would help you create the best, most profitable version of your business?
What does it depend on?
It depends if you’ve used the go it alone route in the past for the success you’ve ultimately wanted, and, feel you’ve no need requirement for any kind of external coaching help and assistance.
Business coaching isn’t for everyone. It is for you if you know you want to grow your business beyond the levels of your own thinking and input.
And that’s where business coaching – the help, advice, inspiration and motivation of a proven coaching professional – comes to the rescue.
So how exactly can utilizing the services of a business coach ensure you reach business and entrepreneurial success? (And success is how you define what success means)
Here are 7 ways Business Coaching can help you:
1 Clarity of Thinking
It doesn’t matter where you are on your business journey – start up, growth, maturity – the clarity of your thoughts are vital if you want the next steps in your business phase to be profitable and productive.
Speaking your ideas out to a business coach will help clarify, solidify and even… help you abandon an idea, concept or strategy. Most of us do not have the ability to see our own blind spots, to detect flaws in our own inaccurate thinking – a good coach, can. They can help save us endless amounts of pain and discomfort, time and money – by steering us to better alternative paths. Without their input, we could quite easily be singing a sweet song, happily sailing along… in the wrong stream.
The right business coach can jolt and challenge your very beliefs, thoughts and assumptions – helping you to get rid of your unhelpful, negative and unproductive ones, and only retain the practical, useful and productive ones.
2 Inspiration and Motivation
You probably haven’t given yourself credit for the fact that you most likely inspire and motivate others, without even realizing it or making a big deal out of it.
Now here’s the important question – who motivates, energizes and inspires… you?
And I don’t mean a temporary, split second motivation and inspiration jolt – I mean a continuous cord of inspiration and motivation that has you energized and inspired each and every day. The right business coach for you can help reconnect you to your own inner motivation, excitement, and inspiration. And it’s laying somewhere deep inside you, but, for whatever reason, you’ve let become dormant and inactive.
Not only that, there’ll be many times you’ll be feeling scared, fearful, apprehensive, alone like no-one is listening to you or feeling like everyone and everything is against you – how are you then going to motivate and inspire yourself out of such a situation?
A good business coach will not only spot that happening but, they’ll swiftly be able to turn your thoughts and emotions around so your thoughts and emotions will now serve and help you into taking positive actions, rather than letting your negative emotions and thoughts demotivate you from taking the appropriate actions that’ll benefit you and your business.
3 Systems and processes
Each business function – marketing, IT, HR, finance, product creation, innovation, admin, customer service – can be identified, measured, analyzed and each process within each business function, can be made to perform better.
A business coach can help you refine each process and help you optimize and make each system (collection of processes) perform in the most efficient, effective and most profitable way possible.
McDonalds, Starbucks, Apple – all have profitably optimized business systems and process within their business functions and operations, and any business can duplicate the same approach and thinking in their business, no matter what their size.
A business coach will help you identify each underperforming process and it turn, will help systematize those processes with better performing alternatives.
4 Results and Outcomes
It’s very easy to fall into the being busy trap, without having anything to show for it at the end of the day or week. It’s very easy to be focusing on activities that do not contribute to the growth and profitability of the business, and all the while, not knowing you’re doing anything wrong.
A business coach will help you realign your focus to creating results and outcomes because ultimately, that’s what matters most — creating outcomes and results in all performance based areas. Without the coach’s input, who knows how much time, money and missed opportunities have gone by the wayside.
Isn’t it strange; we humans seem to value complexity? If it’s not difficult, we don’t appreciate or value it. If it’s too simple, we dismiss it as being nothing important to invest our time and energy, in. Yet, we see various publications, products, and services to help us save time, to have us be more productive, to streamline our whole business function and processes.
It can become quite a nightmare in dealing with it all ourselves. A business coach can lead you to employ better, simpler solutions that’ll free up your time from the mundane and monotonous so you can instead focus on the most profitable and highest performing activities in your business.
If you’re doing everything in your business yourself, wearing a dozen different hats at once, then you’re losing money… you’re losing opportunities for growth… you’re tying yourself to the equivalent of a 9-5 job, though, the only difference is; it’s with you 24 hours a day, 7 days a week. A good business coach will help set you free from the complex and bring simplicity as a way of running your business, instead.
Without various deadlines in place and without a system of checking in with ourselves, we lose focus, we’re less committed and we have no clear way of knowing if what we’re doing in our business on a day to day basis, is in alignment with our goals and targets.
Without any kind of accountability, it’s easy to get swayed and misdirected by turning our attention to activities and actions that have no real impact or bearing on our short-term goals. And that’s why having a business coach who keeps you accountable and on the right path, is invaluable. Without a formalized system of feedback and accountability, we become deluded in the busyness of activity that brings us no meaningful result.
We all know internally that if there was someone to push us, guide us, help steer us in the right direction towards our goals and targets, we’d reach our goals and milestones at a faster pace and momentum. And, we’d engage in the whole process in a way that energizes, excites and motivates us than if we had no accountability process in place.
7 Keeping the main thing, the main thing
What exactly is the main thing in any business? For the answer, let’s turn to the preeminent business philosopher and management consultant of the last 60 to 70 years, Peter Drucker.
He says, the purpose of a business, is… “to create a customer”. And, that a business has only 2 functions – marketing and innovation, all the rest of the business functions and activities, are expenses.
A business coach will keep you centered and focused on keeping the main thing, the main thing – creating customers, and serving and servicing those customers (continually) through innovative marketing systems and processes.
There is no higher function in a business that produces the highest proportion of profits and sales, than marketing and innovation.
A business coach knows that without a steady flow of new customers and without paying attention to maintaining sincere relationships with past and current customers, the business, splutters. A Coach’s job is to help you create those new customers and to install programs that’ll ensure current customers are retained made even more profitable.
KEY QUESTION: Can you work on all 7 areas, all by yourself?
Can you coach yourself to take the necessary actions in all 7 areas, whilst still keeping yourself energized, committed and focused on your business goals and ambitions?
Possibly. That is, if you’ve trained yourself to do so.
However, for most business owners and entrepreneurs, the help, guidance and assistance of a qualified proven business coaching professional will be, invaluable.
How do you know if you’ll benefit from the services of a Business Coach?
Make an honest appraisal and assessment of how you’re currently running your business, based on the 7 areas mentioned in this article. And in doing so, if you find that you’re struggling in any one of the 7 areas, then that’ll indicate to you that you would benefit from working with a business coach, at least, in the short term.
(And if you find you’re struggling in more than one area, then you may want to find the right business coach for you, sooner, rather than later)
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