I’ve been on both sides of the challenge of finding a business coach.
As the Founder and President of a consulting company for over 25 years, I’ve used coaches any number of times. To help me with my own growth strategy, developing and implementing my sales and marketing process, and negotiating an exit from a business partnership that failed. I’ve also been part of a business Mastermind group that’s been invaluable to me as I’ve managed through economic downturns, difficult clients and most recently a global pandemic.
Given that I own a consulting business, I’ve also coached and worked with hundreds of CEO’s and their teams and built my own team of business coaches. I also have an extended network of business advisors who I trust and can recommend without reservation to my clients when I don’t what they need.
While coaching can speed up how quickly you make progress on your goals and can reduce the likelihood of missteps, however, it is not an easy decision to make.
So how do you know when to consider hiring a coach? Here’s five reasons why you might be ready.
You’ve hit a plateau.
The business acquisition strategy which has been successful for the past few years is no longer resulting in the same number of deals. The market has shifted for your offerings, the competitive landscape is changing, and your margins are shrinking.
You’re questioning if you have the right people on your team.
They seem to be working hard but the results aren’t there. They’re looking to you for answers when they’re supposed to be the ones who know their functional areas best. You care about them. They helped get you to where you are but they might not be the ones to help you grow further.
You don’t like the Culture that’s evolved in your business.
You’ve been trying to motivate and provide direction but are still struggling to manage your team. And you’re not sure how to resurrect the passion and energy that you used to have for the company. Most days you go home exhausted and frustrated, when you finally do go home.
Profit is waning.
You’ve been working harder than ever (who hasn’t over the past few years) but you’re making less. If it wasn’t for PPP and ERTC, your cash would be shrinking.
If you’re honest, you are lonely and tired of being the smartest person in the room.
You don’t have the time to work on what you love to do, growing the business. You are struggling to find the resources you need to help you get your business back on track. There’s no one you really trust to use as a sounding board and frankly, sometimes YOU could use an accountability partner.
Do any of these sound familiar?
Finding the right coach can be challenging, but getting the process started will help you deal with the issues you’re facing and get you to your goals faster. Reach out if you’d like to get started and would like assistance with the process.
We’re always here to help!
Tags: Business advice for the mid-market, Business Coaching, Enlightened Leaders, Leadership Development for Small Business