Statistics published world-wide indicate that 4 out of 5 businesses shut down each year, contributing to a significant loss of employment.
Businesses do not shut down because the business owner does not work hard, or has poor focus on quality, gives untimely deliveries or does not know how to manufacture. Businesses shut down because business owners fail to overcome “quickly”, the “combination” of challenges that they come across. Business owners need to keep multiple balls in the air.
Business ownership is ‘complex’ profession.
As a business owner, where did you go to learn how to run your business?
Actually…no where! So as a business owner how are you expected to learn your profession? How did you learn?
You learnt ON the job, you learn by trial and error. But error in business means - ‘Loss of time’ and ‘loss of money’… loss, loss, loss that’s how you learn to be a business owner.
Business ownership needs to be treated like a “Profession”. It requires learning and yet how many business owners are open to learning?
In every business, we face challenges – lack of qualified enquiries, too much competition, cashflow constraints, team attrition… and the list can go on... But who else faces these same challenges? Everyone else in your industry.
So who will come out as the winner? The person, who knows how to overcome the challenge first and implements immediately, will be the winner. But who will know how to overcome the challenge – the one who is more educated on the solution …
Nevertheless, here are 5 signals that tell you clearly that you need a business coach :
You have an awesome business and have that fire-in-the-belly to make your business run even faster.
- You’re extremely busy in managing and implementing your day-to-day business activities. You hardly find time for your true role as the business head of your organization, or, as we at ActionCOACH like to say, you spend more time working IN your business than working ON it. Due to this, your job as a strategist for growth and development has taken a complete backseat.
- You are overwhelmed at the pace you are currently going. You feel like slowing down, but you know that’s not an option anymore.
- You know things in business are not progressing like you desire, but aren’t sure on where to start sorting.
- You know you cannot rely purely on your wife/husband, friend, colleague or business partner to help you prioritize and remain focused, as their own agendas will always be more important to them.