1. A Business Coach Helps You Accelerate Your Organization
Have you ever wondered what a business coach does? I get this question all the time. A business coach’s job is to help you accelerate the profitable growth of your organization. What do I mean by this? Having owned several businesses and helped hundreds, I have realized that there is a hard way and easy way to get things done. Most of us are stubborn and do it the hard way!
Whether you are just starting your business, want to improve your business, or are ready to scale up, a business coach can provide you with the processes and tools to help your organization accelerate progress. Having been around a lot of CEOs over the years I have learned that many of you are faking it to make it.
2. A Business Coach Helps Find Your Business Success Formula
Most leaders struggle many years before they find their success formula. They go from one wild guess to another, using trial and error, to find the magic equation to lead to awesome growth and profit. Until then, they have little to no profit, 100-hour weeks, and anemic growth.
The average company takes 10 to 20 years before they find their formula for success.
Apple Computer is one of those many stories where people seem to forget what actually happened before they become the most valuable and one of the most admired companies in the world. The company averaged 3 percent growth until 2003, had removed their founder, and was a mess for quite some time. After that time, it has averaged 40% growth. The average company takes 10 to 20 years before they find their formula for success. Most never find it.
3. A Business Coach Helps Find the Right People, In the Right Seats, Doing the Right Things
There is a saying: “first who, then what!” If you have the wrong people on your team, then it really does not matter what you want to get done. The CEO is accountable to ensure there is a strong process for hiring the right people, having the right structure, filling positions quickly, growing the right people, rewarding them, and removing the wrong people. Your business coach helps you make sure you know what systems and process to have in place to make and implement these important decisions.
4. A Business Coach Helps Develop Winning Strategies
Your business coach can help you accelerate the learning process. They help you ask the right questions, take you through the right processes, and make sure you do not get complacent with bad strategies. Too many companies are great at executing bad strategies!! The coach’s job is to help you see when you are moving the deck chairs around on a sinking ship. Your business coach will help you ask the following questions:
- What is it that you will accomplish in your industry that others are missing?
- What client segments will you conquer?
- How will you conquer those segments?
- How will you capture your unfair share of the market?
- What business model can you use that will allow you have an extraordinary profit?
5. A Business Coach Helps Use Time to Maximize Profit
Once you have the right strategy you want to make sure to optimize your use of time and maximize profits. You do this through prioritization, using metrics your business coach assists you in developing to create effective process and procedures for establishing and communicating your priorities and goals. They also help you identify the right key performance indicators to focus on at any given point in time to have maximum impact on results. These indicators help focus the organization on removing the key weaknesses in your business model.