If you’re a small business or entrepreneur, here are the facts. Statistics for new business have found 20% of new businesses fail during the first two years of being open, 45% during the first five years, and 65% during the first 10 years. Only 25% of new businesses make it to 15 years or more. So is it luck? A beautifully written business plan? Viral YouTube videos? No. The answer is Leadership. Having effective leadership, no matter what size your business is, is one of the biggest predictors of success.

Leadership skills and organization for business is rarely innate to anyone, what many successful CEOs credit is coaching. Executive Coaching is not new and was once solely identified as mentoring. Mentoring was exclusive and industry specific. Now coaching is about the leader, not exclusively the company. In my practice I’ve had the opportunity to work with clients both internationally and domestically. That common thread that determines those who experience success and not, remains true throughout.

Do I Need a Coach?

Business is tough. Whether you’re seasoned in your field and heading out for the first time on your own or taking on a preexisting model left for you by an exiting leader. You need support. I’ll go a step further, you deserve support. When choosing the right coach there are several things to consider. A recent article from Entrepreneur magazine lists the top reasons coaching in business and leadership is a “Game Changer.” Here’s their reasons why, if you haven’t hired a coach, you’re holding yourself back.

10 Reasons Why You Need a Business Coach

1. Accountability 

A business coach will enable you to see your potential so you can leverage your talents and abilities, but they will also hold you accountable. We all do better when we have to answer to someone for our actions. If you start to get sidetracked, a good coach will make sure you follow through on what you said you would do. They will motivate you while also keeping you accountable and tracking your progress. 

2. Attainable Goals 

Your coach will help you visualize and reach your goals, working with you step by step to define what you want and how to achieve it. They will not only make sure your goals are smart and realistic, but they will also come up with a goal-setting plan to help you achieve them. Whether it’s evaluating your schedule, prioritizing your tasks or helping you to manage your time more efficiently, your coach will work with you to make sure you get more of your goals accomplished in business and in life. 

3. Organization

As a business owner, it’s easy to get overwhelmed by your day-to-day tasks. With a business coach, you’ll get the structure and organization necessary to run your business like a well-oiled machine. Your coach can help you implement and maintain systems and structures for success. They’ll provide you with effective time-management plans, as well as tips and strategies to enhance your performance based on your work style and personality. 

4. Business plan 

No matter where you’re at in your business, a skilled coach will guide you on how to craft the perfect business plan and help you implement and maintain systems for success. From clear and specific objectives to strategic action steps, you’ll learn the essential elements of a successful business plan. 

5. Marketing ideas 

Whether you don’t have the time to develop a marketing plan or you’re not sure how to produce a valuable one, a business coach will help create a personalized, easy-to-implement marketing strategy. You’ll learn how to attract new leads while adding value to your current client relationships. 

6. Unbiased insight 

With a business coach, you get unbiased, constructive criticism. Your co-workers, friends or family members may be biased in their opinions, but if you hire a business coach, they will be able to offer you insights that other people in your circle may not be able to. They can often uncover solutions that those close to you or your business may overlook. 

7. Self-confidence 

When you’re working toward your goals, it can feel like you’re not where you want to be. A business coach will be there to help you see how far you’ve come and what you’ve achieved. They’ll provide support and encouragement, so you’ll eventually learn to lead with confidence and overcome challenges. They will also remind you to celebrate your wins. 

8. Fresh perspective 

When you’re too in the weeds of your business, it can be easy to overlook the obvious. The fresh perspective of a business coach can help you identify problems and solutions that you would have never thought of. They will increase your self-awareness and point out your blind spots, so you can perform at your best. 

9. Growth

Perhaps your income has remained the same year after year, or maybe you haven’t increased the quantity or quality of your leads. If you’ve hit a plateau, a coach can take your business to the next level by assisting you in creating a strategic, business-boosting plan. They will help you sort and qualify your database so that you can clearly determine how best to generate the kinds of leads that result in substantial growth. 

10. Balance 

The right business coach will teach you how to balance your professional and personal life. As a business owner, you can often fall into the habit of devoting all your time and energy to work. Your coach will encourage you to take a break to indulge in an activity you enjoy or spend time with loved ones. When your mind is sharp and your attitude is positive, your business will thrive. 

With a business coach you gain a trusted advisor who will guide you on your path to success. They will put things in perspective and provide you with invaluable ideas and strategies. Whether you’re just starting out or looking to scale your business, investing in a coach is one of the best decisions you can make. 

Let’s Fast Track your Success

I love opportunities to help and see fellow business leaders grow and thrive. Coaching the whole Leader is my sincerest passion and I want to help you. Email me and let’s find your success story together. Email inquires to info@liftprowellness.com.