Why Every Business Owner Needs a Coach

Are you a business owner? Have you ever found yourself trying to learn everything about everything so you can do it all yourself?

Maybe you can’t find the right help. Maybe you want to save the money you’d spend on hiring someone who already knows how to do what you’re trying to do. Maybe you’re just, plain stuck. It’s a struggle I hear about often. I experienced it myself as a business owner until I discovered a little known secret: every business owner needs a coach.

Why does every business owner need a coach? Easy. A good coach can be your sounding board, your accountability partner, your voice of reason when you are trying to be all things to all people. Sure, it’s tough to admit you need help but if you continue being everything to everyone, you’ll burn out and resent your work (whatever your work is). But, when you’ve got a confidential thinking partner in your corner you stop getting stuck in the weeds and focus on what really matters – building a successful, profitable, manageable business that doesn’t eat you alive!

Years ago when I was first starting my coaching business I read about the importance of choosing a niche for your business rather than just saying, I want to serve EVERYBODY. Of course, you want to make money so instinctively business owners tell themselves that it’s better to appeal to more people than a selective few. But the author posed this question, Do you want to be known as Walmart or do you want to be known as Neiman Marcus?

Regardless of your personal feelings about either retailer, the point is Walmart appeals to everyone but they depend on the sheer volume of customers to make their profit. Neiman Marcus, on the other hand, appeals to a very specific demographic which has the disposable income to spend and they don’t bat an eye at high-end retail prices. So Neiman Marcus can make the same profits as Walmart by serving a more selective customer base.

A similar argument can be made for why every business owner needs a coach: you can’t possibly know EVERYTHING there is to know about the complexity of running a business AND know everything about your chosen business too. There’s just not enough time in the day and you’d stretch yourself too thin. A good coach can help you figure out where you’re stuck and help you develop some strategies for getting unstuck.

Owners are usually more focused on their business niche (rightfully so) providing relevant services and products for their customers whereas coaches have a greater understanding of possible blinds spots and pitfalls of running a business because they work with clients in many different businesses and industries.

Think about large corporations. Does the company president know everything there is to know about the inner workings of the company and the daily processes? Probably not, that’s why there are CFOs and department heads; they focus on their own specialities and advise the president, who then makes decisions based on that input. The same can be said about your company; you’re the president of your company and your business coach can work with you to help you figure out what you most value and help you decide on the steps you need to take to get you where you want to go. There are many advantages to hiring a good coach. I wrote about this in an earlier post: Why Work With a Coach? It’s the Fast Track to Success!

How Much Time Have You Got?

We all have the same 24 hours in each day but how we USE those same 24 hours will determine your level of success. Have you ever analyzed what tasks you accomplish during the day, especially on those days where you question where the day went and wished you had an extra eight hours to finish your to-do list? Knowing where you spend your time is part of the equation for success.

Are You a Do-It-Yourselfer?

When you’re first starting your business it makes sense that you want to watch your budget and not hire any outside help. After all, you need to make money before you spend money, right? Do-it-yourself business owners take on every task that deals with sales, marketing, billing, and operations, plus everything else that doesn’t fall into those categories. But if you’re working on closing a sale, it stands to reason that you don’t have the time to develop a strong marketing campaign or to create content for your website or social media channels. Do-it-yourselfers are stretched too thin and risk becoming experts at nothing. Very often these business owners feel behind like they’re always playing catch up with what their clients need and trying to salvage those relationships instead of forging the way to bring in new business. All that pushing takes a toll on business owners. They can get pl burned out big time. Who’ll be running the business then?

One of the teachings from my own digital library on this topic is Michael Singer’s, audio program The Untethered Soul at Work – Teachings to Transform Your Work Life. He provides some excellent strategies for getting back to feeling energized, excited, and ready for anything that comes your way at work. I listen to it again and again, especially when I’m starting to get bogged down.

Are You a Business Leader?

Business leaders know they can’t do everything themselves. They see grand plans for the future of the business and know what their own strengths and weaknesses are. These leaders will shop around for expert advisors, coaches, and assistants to handle the myriad tasks involved in the backend of the business so they can dedicate their time to finding new clients and building those relationships while their team handles their own areas of expertise.

Can You Go from Do-It-Yourselfer to Business Leader?

Of course! Don’t be intimidated by others who tell you something is impossible. In order to change your mindset, find a mindset coach who can help you work through the reasons why you need to do everything yourself and identify your fears about hiring help. Find a business coach who can analyze your backend operations and give advice for automating certain tasks or suggestions for who to hire next. Consider a social media manager to keep your accounts current with posts and to engage your audience. Hire a virtual assistant to manage your email and your calendar while you’re handling sales and marketing. Think of how much time you will save if every one of these team members does their own jobs within the same 24 hour time period. You will definitely see faster growth in your business but making that first hiring hurdle can be tough.

If you’re ready to get out of overwhelm, untangle a few knots and grow your business, think about hiring a coach. A good coach can be the confidential thinking partner you need to create a blueprint for your ideal future. Believe me, every business owner needs a coach.

Let’s talk!