10 Ways A Small Business Coach Can Help Your Business

So what coaching for small business setups do for you? If you want to find a small business coach, here are 10 ways in which a coach can make a positive difference.

(1) Fill in knowledge gaps

Most business owners call in a coach when they begin to feel they’re struggling to cope with the various functions of running a business. Sales, marketing, accounting, business development, HR… Even if you were an expert in all these fields, it would be unreasonable to expect you to perform all  functions to a high standard at once.

In fact, most businesses are launched with one field of expertise – the core function of the business – with other requirements emerging later on. That’s when coaching for small business owners can really prove valuable – by stepping into the breach with an objective overview and helping to make sure that all key functions of your business are being taken care of completely.

A coach won’t do the work for you; neither will they replace any of the structured relationships that already exist. But, they will fill in the gaps as needs arise, using their network of contacts to provide expert help.

(2) Find a small business coach to help you understand and communicate your brand

A surprising number of businesses tick along without even realising they have a brand. They operate from day to day, never growing or developing their value. It’s only when asked the right questions that the owner begins to realise their business is more than themselves and the job they do. In reality, they have customers, a reputation, expertise and experience.

A business coach will ask the questions that help you see the long-term value of your business, to understand what your brand stands for in the eyes of your existing and potential customers and to learn how to develop it into something more valuable than the hours you put in day to day.

(3) Make sure you’re sticking to the plan

Linked to the last point, many businesses operate without any sort of business plan. The closest they come to planning is putting appointments in a diary. That’s okay if you want to spend the rest of your working life doing the same thing day to day. However, if you have any ambitions to slow down or even retire in the future, let alone grow the business, you need to put a plan in place.

The chief benefits of a business plan are: showing you the direction your business should be going and giving you indicators against which to measure your progress as well as showing others, such as bank managers, that you’re on sound footing and, therefore, worth lending to.
Writing the plan is one thing, but sticking to it is another. Taking on the services of coaching for small business owners will make sure that regular reviews take place. It will also assure that you take the time to step out of the engine room and work on your business, meeting the milestones set out in your plan.

(4) Review financial controls

We all have our own reasons for doing the jobs we do, but one factor is common to all of us: the need to make money. A business that doesn’t make money is a failing business and won’t last very long. Sadly, a lot of businesses fail, not because they were built on a bad idea, but because their finances have been neglected.

Managing money is not everyone’s strength, but business coaches are well-versed in the financial controls of running a business. This isn’t just about paying your bills, taxes and other legal obligations; good financial management can provide a very clear indicator of the direction in which your business should go, becoming a valuable contributor to your business planning.

(5) Enhance your time management

Easily one of the greatest causes of stress and chaos is the way we manage our time. And, the worse it gets, the harder it is to see a way out. If this is your reality, it is time to find a small business coach!

By coming in with an objective view, they will be able to dispassionately identify the areas of your business need extra time investment as well as areas that are ready. They will help you to organise both your working and domestic lives in a way that ensures the important jobs are completed without the stress of constantly wishing there were extra hours in the day. And, if it becomes clear that your workload really is too great for the hours you have available, the coach will help you find the people needed to relieve you of some of the burden.

(6) Plan your marketing

A marketing plan is a key part of your business planning. Marketing can be expensive, and if you don’t plan it, you could be wasting every penny. For marketing to be effective, it needs to be accurately targeted, well executed, measured and followed up.

A business coach will help you identify who you’re trying to reach, what your key messages are, how best to reach potential clients, what actions you want them to take, how to assign your budget etc. They will also help you find the experts you need, such as copywriters, designers, developers, etc., to craft your marketing content and materials.

(7) Coaching for small business owners will help you to define your growth strategy

Growth is both an exciting and daunting stage within the set up of a business. The moment you decide to employ staff can bring mixed emotions. On one hand, it’s a great sign that the demand for your services or products is high; on the other hand, you’re taking on the responsibility of someone else’s livelihood.

A coach will look at your business forecasts and help you identify when to recruit. And they’ll be right beside you through the recruitment process, providing you with reassurance, as well as the advice you need.

(8) Monitor your systems

Like your staff, your systems need to have the capacity to cope with increasing demands as your business grows. A failing IT system, for example, cannot only slow down your operations, but can lead to missed orders, poor customer service and low staff morale, all of which could deliver a fatal blow to your business.

A coach will help you to forecast the demands on your computers and other machinery to make sure they are fit for purpose, and will ensure you’re taking the necessary measures to upgrade appropriately.

(9) Understand your KPIs

(10) Make the most of you

The most important component in your working life is you. Running a successful business requires energy, concentration, inspiration, determination, perceptiveness and numerous other traits that come and go. Pressures outside work, such as relationship problems and childcare issues, will seriously impede your ability to tap into these resources. Therefore, it’s vital to get every aspect of your life in order, allowing you to perform to your best ability.

A good business coach will look beyond your workplace requirements and help you get on top of your life as a whole. The same principles of objectivity and good planning apply just as effectively to domestic life as they do to work life, and each can have a profound effect on the other, whether positive or negative.

The old adage, ‘a problem shared is a problem halved’, reflects the benefits of taking on coaching for small business setups. In fact, a good coach can make you feel a great deal of your problems have been alleviated. The value of having an objective ally with a broad knowledge of running a business can be enormous.

The important thing to remember is that you are not hiring a cure-all to do the work required in every department. The coach is not there to do the work but to identify the work that needs to be done and help you put in place the people and processes for getting it done.
When you see your business running efficiently on this basis and feel the physical and mental benefits of being in control, all the arguments for bringing in a business coach will make perfect sense.