Why Every Entrepreneur Needs a Coach
See why a coach can help you grow, save time and leverage the resources around you.
As entrepreneurs, we want to take on the world by ourselves. We dig in, work hard, and are determined to be self-made. Why would we need someone to tell us what to do? Isn't that why we started our own business in the first place, to avoid being told what to do?
I'm a firm believer in business coaches and mentors. In fact, I have multiple mentors over the course of my life and a mentor in each one of my business to help guide me through my own business and life challenges. The value and expertise they provided me was incredible. They brought light to my weak points, gave me a very objective outside view, and they all held me accountable to my own goals.
Experienced coaches have seen businesses grow throughout every stage and know the challenges that come with every step. These coaches usually work with business owners and leaders within different industries and provide resources to someone that is solely focused within their own industry. Many times, entrepreneurs will never consider bringing on a coach because they feel either they know their business better than anyone else or they think they "should" know everything about their business. It can be difficult to swallow some pride and reach out for help. However, many small business owners are seeing the value of coaches. As a result, they are taking advantage of one of the greatest resources at their disposal.
Coaching and Education
More businesses that have employees are starting to utilize the services of a coach within their business. Just look at the INC 500, or Fortune 500 list and related articles on how many of those high performing companies are utilizing the services of a business/executive coach – almost all of them.
You don’t have to be some large or unicorn company to use a coach, any size business should be working with a coach and taking advantage of their resources in overcoming business and personal challenges.
Several factors are driving the use of coaches and training. Business has gotten more complex and is changing more rapidly. Businesses are turning to expert coaches and training that they're willing to pay for to provide guidance on working through complex problems quickly. There simply is no longer the time to "learn while doing" or the margin of error to "learn by making mistakes."
Masterminds, Mentoring and Metrics
Many successful small business owners I have spoken with said they used coaches and unpaid mentors to improve their management and leadership skills, help them set and achieve goals and work through difficult business problems and decisions.
Some entrepreneurs mentioned they often turned to mentors and coaches for emotional support, especially when faced with difficult decisions. We are not talking about speaking with a family member here-they will NOT give you the good, bad and the ugly of the situation.
In a past mastermind group I facilitated, several members brought up a need for help to get over their fear of hiring an employee. In another mastermind group, the larger firms continually posed to the group on how to enhance their skillsets and assist them in decision-making. These firms clearly see the value of mentors and coaches and are expanding their use.
Three Reasons Why You Need a Coach
- Personal Growth: Take advantage of those who've walked the path before you. There's much to be learned from those who've been there and done it before us. Sure, times have changed over the years in how we do business, but there are fundamental and enduring principles involved with running a successful business and dealing with people, especially the one you see in the mirror every day. There is no shame in getting help.
- Save Time: You simply don't have the time to stay on top of the latest changes in the business world. As business gets more complex and the pace of change increases, leverage an experienced coach or mentor to save you and your team time and money.
- Work smarter, not harder: Having a strategic partner by your side, who will keep you focused and on track to your goals will save a lot of time and frustration. The coach will have resources available to them to assist you to implement these tools. So leverage an expert resource to help guide you on the journey to success.
Don't be afraid to get help. Successful small business owners look to coaches, mentors, education and training for themselves and their employees to help overcome challenges, learn new skills and deal with complexity. They see help as a way to improve themselves and their business's competitiveness.
So what are you waiting for? Go ask for the help you need in your business to overcome the challenges you're facing! You, your team and your customers will likely all benefit.
Portions of this article were original article written by Clate Mask