Dr. Rajesh Mohan Rai
Why coaching services are vital for small business owners
Article originally published in YourStory.
A coach can be an ideal growth partner for a small business owner, helping the business gain stability and scalability.
In the current scenario, even thinking about engaging a business coach has no place in the to-do list of business owners. On the contrary, in such difficult times, a business owner needs all the help he or she can get. The obvious question: why? How would a coach help a business and its owner? A coach can be an ideal growth partner for a small business owner, helping the business gain stability and scalability. Here are a few reasons why businesses coaching services are vital for small business owners:
Clarify Purpose and Goals
Early days may be disproportionately spent by business owners doing things for the existence of their business. A coach, however, helps the owners put the purpose and goals at the forefront, and regularly reminds them why they are doing certain things.
Transition from Expert to Entrepreneur
Being a subject matter expert (SME) is not the same as being an entrepreneur. In fact, being an accomplished SME may be necessary, however, it is insufficient for running a successful business. Any business must be run like one. A coach can offer great insights and help a business owner develop smart habits and best practices so that the business can succeed, while the owner still gets to engage in the subject of his or her expertise.
Recommend solutions for business growth
Growing the customer base and increasing brand awareness are uphill tasks for small businesses. An experienced business coach can recommend customized solutions and strategies to overcome this hurdle. Most small businesses face challenges with strategic planning, weaving together the business plan and operational issues. A business coach could give the owner much-needed direction and guidance for the same.
Offer new perspectives and ideas
“Two heads are better than one” is an old adage. It is a wise principle for small business owners to have. Whatever the owner may be contemplating, i.e. new campaigns, sales strategies, leadership skills, or how to improve the operations, the ideas will always turn out better if the owner runs them by an experienced professional, a business coach. A coach doesn’t only suggest solutions to the business owner, but also asks tough questions that no one in the business ecosystem would ask.
Establish and promote accountability
The most common advice a coach gives to a business owner is not to lose sight of the importance of accountability in making the small business succeed.
The coach is frequently called upon to support the business owners in understanding how to get into the habit of self-accountability and how to insist on accountability from all stakeholders and key team members.
It’s hard enough succeeding in business with everyone on board and accountable, let alone when a business founder or key team members play fast and loose with accountability. Accountability isn’t about constricting scope. It’s about doing what was said would be done and building a stronger foundation for the business to grow, as mentioned in the goal and vision statements.
Share experience and knowledge
A business owner may think that he or she knows all about the business. However, a coach can provide lots of insight, which might surprise the owner. Experience is indeed the best teacher, and a coach has an abundance of it. Irrespective of the economic scenario, whether micro or macro, a coach will always play a significant role in the success of a business.
The coach will challenge a business owner’s thinking, provide solutions, and walk the owner through the path of success.
Small business owners who engage the services of a coach aren’t spending money on non-essentials. They are investing the money to become the best business leader they can be, and developing the skills necessary to ensure the best performance of team members and the business as a whole.