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7 Reasons Why You Need a Business Coach

Posted 10/06/21

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Congratulations for making it this far.

Being a business owner or a successful entrepreneur is not easy. You spend long hours perfecting your craft and all of the free time you have available goes into the business essentials (like bookkeeping, payroll, staffing, etc...).

There comes a point where you finally come to the conclusion that you want some freedom.

Freedom comes in many ways.

Maybe you want to hire a manager to handle the business essentials.

You might want to create a more efficient process for your service.

There's a chance you actually like doing all of the business essentials and you want someone else to handle the trade or craft.

Regardless of the reason, you find yourself asking the same question: what's next?

Your answer is similar to many other business owners or managers: “I don't know”.

Thankfully there are professionals that can help. Their sole job is to help with that very question.

What should you do next with your business?

There is a Problem But You Don't Know What It Is - Outside Perspective

Sometimes we get so entrenched in the day-to-day operations that we forget that there are other ways of doing things. We find a process that works for us and we fail to adapt or sample new approaches. Our failure to evolve does us a disservice and slowly the business flatlines. We are blind to a potential problem because "this is the way we've always done it".

Bringing in a business coach or mentor is one of the easiest and most efficient ways to diagnose a problem.

Business advisors have structured plans and processes that help identify the core problems or potential risks in your business. By performing a company audit, they can give you a fresh perspective on what is working, needs improvement, and needs to be eliminated.

Business Loss

Business is Heading in the Wrong Direction - Loss of Profit and Sales

There is a moment in the business life cycle where you decline. Based on your decisions and next steps, this could be the end of your run as a business or can be the moment where you reinvest and renew your worth.

It's very common for a business to slow down and show a decline. Sometimes it's difficult for management and owners to diagnose or understand why. There are times when the market or your industry is down and there are other situations where the loss is self-inflicted.

Businesses make short-term decisions every day that can create long-term effects.

  • Do you have too many employees?
  • Are you spending money on the right business tools and technology?
  • Is your marketing providing you a return on investment?

Business coaches can help review your systems and use their expert knowledge to guide you to make better day-to-day decisions that will help your overall success.

Go With the Flow - No Long-term Goals or Plan

You can be a successful startup business with no goal or game plan - short-term.

Especially in the service industry, if you have a service or product that people need, you will have value and show success. Niche products and services might be the only option in town and your business plan or reputation doesn't have a huge impact on your bottom line. You create an LLC one day and keep the calendar full.

What is good today is not always good tomorrow. You might find a new competitor opening up shop next door or a drastic shift in customer interest. Forecasting and creating logical goals and plans can ensure you will always run a successful business - or at least be prepared for when the tide is going to turn.

Business coaches can help you forecast growth, create realistic goals, and potential risks with your plan and structure.

Don't Have the Time to Learn Something Else - Experts in HR, Finance, Technology, and Compliance

You've heard this before -

You didn't get into business to be a/an...

  • Accountant
  • Human Resource Manager
  • IT Support
  • Marketing Director

These are full-time jobs that require degrees, training, and consistent practice. It's unrealistic that you are able to wear additional hats and be the best at everything.

But you do need these skills. A business coach can help you by providing you quick and easy access to what you need to know and/or the best decision to outsource or hire additional staff.

Reached My Peak

I've Reached My Peak - Growing Your Business and Scaling

Consistency is great, but wouldn't you like to grow? As a business owner or manager, you always want to make sure you can successfully forecast your earnings. Being able to predict your sales or revenue week over week or month over month is vital for making payroll and keeping the lights on. What happens when it's the same number over and over?

There is a good chance that you haven't reached your max. Even lifestyle businesses can benefit from having a more efficient process or access to knowledgeable coaches. There is a reason you are not growing. A business coach can help uncover the reason and advise on how to overcome the hurdle.

Hiring Again - Employee and Management Turnover

If you always have the "NOW HIRING" sign in your window, you have a problem. Staffing your team and hiring the right employees can be stressful and time-consuming. Even though employee loyalty is continuing to drop, you can hire and retain engaged employees.

Business coaches help with your company culture, employee engagement, and compensation packages. By working with a business coach, you can create a process for exit interviews and understanding why an employee is leaving. It's not always the pay and it's not always the atmosphere. You can also create an efficient strategy and structure for hiring.

Find out why you are losing employees and not attracting the right ones. Finding a business coach that specializes in employee relations can positively impact your business.

Should I Pay For This? - Technology, Tools, Workflows, and Marketing

As a business, you need help looking at your expenses and understanding if the cost is worth it. Some business consulting firms can help you by providing expertise on the cost of tools, technology, and marketing.

A business coach can review your company goals, help create a plan, and make necessary recommendations to help you achieve your goal. Sometimes you need to create a more efficient process. This could require investing in new tools, technology, or equipment. Can your business afford these upgrades? A business coach can help you ask the right questions to know if this is the best-educated decision.

Business coaches are experienced and work with many other successful small businesses and organizations. Sometimes you need to do a better job of branding your company or need additional outreach opportunities in order to grow. Business coaches can help you create marketing plans and systems to track your advertising ROI.

A business coach can help you make an educated decision on how you can spend your money to achieve your strategic goal.

AlignHR

Hiring AlignHR as Your Business Coach

AlignHR has experience working with small businesses, successful and struggling. Our process allows us to work with management, employees, and owners and provide a strategic, customized plan to help overcome your business obstacle.

We are partners and extensions of your brand. By understanding your goals, process, culture, and mission - we are able to speak your language and provide you with coaching and consultation that creates a direct impact on your bottom line.

AlignHR has clients throughout the United States, with flexible local affiliates ready to have a conversation with you today. We are trusted business coaches for a variety of industries, specializing in HR, Business Growth, Staffing, and Compliance.

Start the conversation today and let's partner to grow your business.