How To Know When You Need A Business Coach
by Arina Smith Business Planning 11 April 2018
Are you beginning your journey into entrepreneurship? Or are you a successful businessman looking for a new avenue to dip your toes into and find the next big win?
Regardless of whether you’re a newcomer in the business world or if you’re in your tenth year, it’s never too late to hire a business coach. As a matter of fact, hiring a coach is a path to success. Studies show that companies see a $7.90 return for every $1 they invest in coaching.
But how do you know when it’s time to call on a business coach? Should you hire one at the launch of your business or when the future looks bleak and bankrupt?
To help you figure this out, here are some signs that indicate your business needs coaching:
You’re Going Nowhere :
Take a moment to study the metrics governing your decisions in the company.
How many new customers do you get on a regular basis? How do people discover your company and the products or services you offer? Is the company’s income on a steady rise, declining, or flatlining?
If your profits flatline and if you don’t see anything engaging or new, your business is going nowhere. There’s no escalation in sales and you’re only waiting for things to drop. There’s no goal to achieve and that means your company isn’t striving harder than it should.
A business coach like American Snippets could help fix this problem.
With the aid of a professional coach, you can set new goals. These goals don’t even have to be about higher sales. It’s possible you need goals like “training all personnel regarding new IT solutions” or implementing a new work quota.
You Need a Fresh Perspective :
One of the main causes for a company to go nowhere is when they think they’ve thought of it all.
You and those around you may not see the bigger picture. It’s possible that there are angles and strategies available but you couldn’t see them by looking at the situations in a certain way for so long.
A coach can provide an objective, outside look into your business and reveal new strategies by thinking outside the box.
Do your metrics say you’re not generating leads? You might have to stop using print ads and start thinking about social media marketing. If your business site sees traffic but no sales it might be due to poor landing page design or slow loading pages.
Those are perspectives a coach will see. They won’t get clouded by the strategies you use since he or she isn’t attached to them. All they see is the data in front of them and this guarantees a fresh solution to the problems you face.
You Feel Overwhelmed :
Many amateur businesses fail because the people behind them feel overwhelmed.
This is a normal feeling. Entrepreneurship is a dog-eat-dog world. 20% of start-up businesses fail after the first year and by the fifth year, only 50% of the previous total still operate.
Even if you’re a veteran entrepreneur, you can still feel overwhelmed at times. What if you’re testing a brand new product and there are no studies or statistics for you to base your decisions on? What if you’re forging new relationships with partners you’re not so sure of?
A coach can guarantee some peace of mind
With a professional business coach, you can face these overwhelming sensations of fear and nervousness. Their guiding hands will help walk you through the process, ensuring you make fewer mistakes and can prepare for the challenges ahead.
Training for Something New :
Is this the first time your writing blogs to earn money? Is this your first foray into e-commerce? Even if you’re a veteran of e-commerce, you could still find new things every day like using VR technology as a marketing platform.
A business coach can introduce these new business tactics and tools while also providing the proper training. You might find a coach who excels in social media marketing or one who doesn’t know the technology behind VR but does understand the numbers all business should consider when diving into it.
Not sure where to start preparing for a new business venture or new tech? A coach is a perfect solution. They can do the research and draft a step-by-step procedure you and your employees can follow.
This makes the transition easier and faster.
Identify Strengths and Weaknesses :
Last – but certainly not least – is identifying where you’re company excels and where it fails.
If you’re uncertain what your strengths and weaknesses are, it means you’re not monitoring the right metrics. Even if you are, you may not understand the analytics in front of you.
If you use Facebook Pages, for example, do you know how to tell how many people discovered your site from a social media post or if they came from a different corner of the web, like Twitter? By only looking at the metrics of your business site, how can you tell if people like your page design or if they can navigate around with ease?
These are signs you need a coach. Solving these issues is perhaps the main forte of a business coach.
They have the knowledge, training, and expertise to analyze your business and list down all the metrics you have to understand and monitor. They can tell you what your current metrics look like, what they should look like, and how you can reach those goals.
Hire a Business Coach Now :
If you find yourself saying “yes” to any of these situations, it’s time to call a business coach. Your business, whether new or old, can only benefit from a pair of outside eyes looking in to help you push forward.
Even if you’re business is doing great, it won’t hurt to hire a coach every now and then. Their fresh perspective and analytical nature can pinpoint weak points you didn’t notice or encourage you further with the plan you’ve got going.
Interested in hiring the best coach in town? Not sure where to start in terms of business consultations? Contact us now and we can start helping you today!
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