Whether you’re running a small business or looking to build an international brand, new business coaching gives you that extra edge over your competition.
Navigating the business world can be very difficult, especially if you’re new to the industry. From hiring new employees and keeping them motivated to managing cash flow and understanding government regulations and taxes, there’s a lot to do. That’s when you need someone by your side to guide you along.
Building and maintaining a business is a day-in, day-out battle between uncertainty and willpower.
A business coach acts as your mentor and motivator, all in one. In other words, they share their industry knowledge and expertise so that you don’t make the same mistakes others do.
More so, if you are a startup, new business coaching helps you ensure that your business doesn’t fold within a couple of years of starting.
Challenges New Businesses Face and How Business Coaching Can Help
1. Lack of awareness
There is a lack of knowledge about the many more delicate aspects of running a business — project management, for instance.
You may face difficulties in managing healthy cash flow in a competitive economy. Or need to take risks, or promote a healthy business culture, etc. These are a few aspects that a business coach can guide you on.
New business coaching helps you withstand these periods of uncertainty with grit, self-esteem, tolerance, and optimism.
They’re trained to counsel you through the various intricacies of launching and running a new business with custom-tailored advice.
2. It’s stressful to set up a new business
Startups and stress are synonymous. Building and maintaining a business is a day-in, day-out battle between uncertainty and willpower. You need nerves of steel to persevere through prolonged periods of risk, as every business decision made is important to your company’s survival.
That is where our experience and expertise comes in. New business coaching helps you withstand these periods of uncertainty with grit, self-esteem, tolerance, and optimism.
3. Following a roadmap
For a successful business to work, you need to have a proper roadmap. When you set up a new business, the planning and execution of these strategies can be overwhelming. CEOs and business leaders need help to define their business goals and objectives.
A business coach works with a team of business leaders to draw up a business roadmap. They also support you in implementing the strategies. Further, a new business coach holds you accountable for your actions and thus ensures you follow the set roadmap.
How Does New Business Coaching Help?
A coach is invaluable. As a business owner, you have potential, but it takes a coach to recognize that potential and shape it into a successful business model with profitable revenue.
Think about it. Even Michael Jordan had a coach. Roy Williams, his coach, says, “My coaching staff made Michael more fundamentally sound every single day. In practice, I tried to push him to see if he could win that drill, win that competition. I felt like I had an excellent relationship and a somewhat unique relationship with him, and it was easy for me to challenge him to be better.”
On the other hand, once Michael Jordan realized there was part of his game that needed work, he worked on it. “He made himself better, and he did that for a longer stretch than anybody else,” said the coach.
Let’s look at how a coach can help your business.
Long-term and short-term business strategies
When running a business, we can sometimes become too involved in the business operations to see the big picture.
A business coach will help you step back and look at the big picture so that you can set long-term and short-term business strategies for growth.
Offer an unbiased opinion
Unlike your family and friends, coaches do not sugarcoat things. Since they are not emotionally attached to you, they can offer objective and impartial advice. This helps you focus on the growth and success of the business.
A coach recognizes your potential and shapes it into a successful business model with profitable revenue.
Boost growth and sustainability
Business coaching is not limited to new businesses only. Once a company is set up, it tends to plateau if not staying motivated.
Business coaches work with business owners to grow their business and offer sustainable solutions.
Simplified marketing channels
Marketing takes up a considerable amount of your capital budget. With the help of business coaches, you can focus on only the channels relevant for you.
- Does networking work for you or do you prefer attending business trade shows?
- Would you want to spend more on digital marketing or on print and publishing?
Steering around these questions become easy with a business coach by your side.
Learning from past mistakes
56% of small businesses wind up their operations by the fifth year business. Business coaches use their tactical experience to help you avoid the pitfalls of running your own business. Find increased productivity and business efficiency by streamlining operations for continued growth.
New business coaching helps business owners and entrepreneurs make the most of all the resources at their disposal. So if you’re looking to start your new business or desire to accelerate your business growth, a business coach is what you need.
Find New Business Coaching Expertise with Coach Douglas Winnie
Setting up a new business is similar to growing a sapling. It needs care and attention. And while in the early stages, it needs direction. A mentor is like that support system your seedling needs to grow and stand tall.
We tailor our business coaching programs based on your individual goals. Use unique strategies to boost your startup with ActionCOACH. Hire us to help your business reach new heights of success. Contact us today at (713)-936-3814 to speak to our experienced new business coaching experts.
Starting a New Business? You Need Coaching | ActionCOACH Douglas Winnie – Bellaire, Texas