Small Business Coaching - Five Rules For Success
The market place is, nowadays, full of companies offering small business coaching services to entrepreneurs like you. This is good for you as it means there is plenty to choose from if you are considering growing your business. Make sure your decision to enter into a small business coaching program is made with the following 5 critical success factors in mind
Have Objectives In Mind
The expectation that any coach or advisor will identify and develop your business objectives for you is misguided. Please avoid this situation. Take responsibility for your future by brainstorming and visioning what you would like your business to become. Then use the advisors experience as input to further sculpt your dream business.
Be Prepared To Allocate Time to Planned Activities
Do you have enough time?. One of the main reasons small business coaching fails is if you do not allow yourself the time necessary to complete agreed tasks (say marketing). Take for instance networking as a marketing strategy. If you do not make time to attend the meetings necessary to building up a contact list, then this will not result in any business.
You will need to dedicate 1-2 hours extra each day for the first few months. After that you should be able to automate a lot of the functions and actually be working less hours. That's the goal right?
DIY Rather Than Done For You
Many entrepreneurs that commence small business coaching have an expectation that the coach will not only formulate a Business / Marketing plan, he/she will also conduct all the tasks necessary to deliver the extra sales and profits. Not so. If you hire a consultant they will charge a high fee and deliver "done for you" services - they retain the knowledge.
Coaches guide and support you in learning how to do the tasks for yourself. You get to keep the knowledge.
Be Realistic
Plan and stick to a small business coaching program and the returns will be higher revenues, more profit and less hours at the coal face. Yes it will take a few months to see the changes. Do not despair if your coach tells you it will take some time as they are being honest. Some coaches and advisors (the minority) market the promise of being able to quickly double your net profit. Do not be mislead here as long term business growth is not something that happens in a week.
Select a Coach That Guarantees Results
To lower your risk and protect your investment, ensure the coach you select has a performance guarantee. The first month is the time of greatest risk when you have engaged a consultant. You want a non commit period to gauge progress and whether you can work with your coach. A "get out clause" should exist in any agreement you sign lest you find yourself locked in for 12 months without any means of escape.
Do you want FREE reports and downloads that will assist you with growing your business just like my small business coaching clients? Then check out my Melbourne Business Coaching site at http://www.profitkoach.com.au
