The 5 Secrets To Making Small Business Coaching Work For You
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. Many coaching programs go astray when this happens. It is your task and responsibility to note down your goals and vision for your business as you see it. Once you have done this you will have a good foundation for building and crafting a great vision and objectives.
Be Prepared To Allocate Time to Planned Activities
This is a "biggy". 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). When first building your busines you may need to dedicate extra hours to planning and designing a marketing campaign - no time, no campaign results.
Expect at least one to three hours per day to be put in (extra) if you want to see your efforts bear fruit, eventually you will be working less and earning more. 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. Think again. You want to learn and own the knowledge from your coaching - as opposed to letting a highly paid consultant do it for you.
Coaches guide and support you in learning how to do the tasks for yourself. You get to keep the knowledge.
Be Realistic
A small business coaching endeavor that is well planned and adhered to can produced fantastic returns in increased profits. These profits will take a few months to realize. You coach will, more than likely, tell you it is going to be several months before you can measure real increases in profit. 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.
Have Objectives In Mind
The expectation that any coach or advisor will identify and develop your business objectives for you is misguided. Many coaching programs go astray when this happens. It is your task and responsibility to note down your goals and vision for your business as you see it. Once you have done this you will have a good foundation for building and crafting a great vision and objectives.
Be Prepared To Allocate Time to Planned Activities
This is a "biggy". 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). When first building your busines you may need to dedicate extra hours to planning and designing a marketing campaign - no time, no campaign results.
Expect at least one to three hours per day to be put in (extra) if you want to see your efforts bear fruit, eventually you will be working less and earning more. 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. Think again. You want to learn and own the knowledge from your coaching - as opposed to letting a highly paid consultant do it for you.
Coaches guide and support you in learning how to do the tasks for yourself. You get to keep the knowledge.
Be Realistic
A small business coaching endeavor that is well planned and adhered to can produced fantastic returns in increased profits. These profits will take a few months to realize. You coach will, more than likely, tell you it is going to be several months before you can measure real increases in profit. 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.
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