Why get Business Coaching? – I have enough to pay for already!!!
I didn’t understand or know about business coaching when I first went into business. In hindsight, a good business coach would have saved me a lot of time and money!
Costly Mistakes a coach would have helped me avoid over the years are:
- Choosing the correct training for myself.
- Understand what to plan for and how.
- Understanding finances, namely why the net figure (the profit) does not equal what you earn (what goes in your pocket).
- Poor market research.
- Poorly-managed business partnerships.
- Legal help regarding the above.
- Strategy structure and help with admin.
And yes, I have made and learned from all these mistakes!
The right coach can help you run your business in a conscious and managed way and help you overcome your hurdles as you grow.
Business Coaching may also help you to understand if your passion is genuinely viable or whether you may need to do other things to support it, such as a part-time job.
A good coach will have no judgement on you, will become like a friend, somebody with whom you can bounce ideas. They will build your confidence but also help you to figure things out for yourself in your way.
Coaches will also have contacts, knowledge and experience in areas which you’re unfamiliar with and will be able to help you with this and save you lots of research time and training.
One of the things I quite often hear when I practice coaching with people is “I never thought of it like that before”…
Goes to show that you don’t know what you don’t know and another pair of is always worth having around.
Common expensive mistakes that small businesses make that business coaching can help you overcome:
- Under-charging just because you’re new to the market.
- And under-charging even when you’re not new to the business.
- Being unprepared for “The dip”.
- Forgetting to do marketing when you’re busy and the money is flowing in.
- Over-servicing clients when you’re not busy (because you’ve got nothing better to do).
- Thinking that your income is the same as what you charge.
- Then getting a huge shock when you finally do have your accounting produced.
- Not treating marketing as a valuable habit.
- Over-loading yourself or suffering overwhelmed
- Not allowing space or budget for outsourcing.
- Placing your own bias on a client’s money, for instance; “I don’t think they’ll be able to afford this” or “I wouldn’t pay this much if it were me”.
- Not recording your time and activities to help with future training of staff or contractors.
- Not investing back into the business.
- Not stashing away more than your 20% of profit away for tax as well as ‘just in case.
- Underestimating time scales for jobs.
- Failing to get training in marketing and sales.
- Failing to understand their perfect ideal client or target market.
- Treating the business like a paid hobby instead of an actual business.
If you would like to find out more about how business coaching could help you move your business (and life) forward as well as potentially save you thousands, please get in touch.
I do not offer ‘discovery calls’ or similar. I provide your first, full-session, completely free of charge.
That way we can get a good understanding of each other and see if we are the right ‘fit’. You can view my experience on LinkedIn where my up-to-date CV is held alongside my certificates: LinkedIn
There is no obligation to continue after the first session. You get to choose if coaching is right for you once you have experienced it.
Business Coaching is done either in-person in Gillingham, Kent, or online via Zoom (I can help you with this).
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