Did you start your own business during 2017? If so, congratulations! You’ve had a great idea, identified your market, sourced the capital you need and now you’re up and running.
The early months of running your own business are full of heady excitement, game-changing ideas and buckets of optimism. Now is the time to build on all that and make sure that 2018 is the year you take your business to the next level.
Here are five ways a business coach can help you do this:
1. Develop your long-term game plan
Every new business starts with a business plan, although not every business plan makes it past the stage of notes on the back of an envelope. Your coach can help you download your ideas and ambitions and put together a plan that clarifies your business idea, and defines both your short and long-term objectives.
2. Consider the challenges ahead and prepare for them
The day-to-day pressures of running a small business leave little time for thinking ahead. Take time out with your coach to anticipate and plan for the unexpected. These may be changes in your operating environment, or in your personal life, that will impact the business. Forewarned is definitely forearmed.
3. Make sure it’s not all about you
Your creativity and passion was what got the business started. But on its own, it is unlikely to be enough to keep it going. Or not without considerable personal sacrifice. Your coach will help you consider whether your work/life harmony is out of kilter. S/he will also help you think through how you can reduce your business’s dependency on you, as the company’s founder and driving force: for example, by building the capacity of those around you.
4. Keep director relationships on an even keel
Small businesses are often started by two or more individuals with complimentary skills, who pool their energies and resources. But its continued success depends on shared values and expectations, and these can change. Your coach will work with you individually, and as a group, to keep you on the same page and reduce the risk of things falling apart.
5. Grow and motivate your team
Recruiting and training people is expensive. It also takes time, and energy. Don’t become a test bed for talent. When hiccups occur, and you’re struggling to get the best out of someone, use your coach to help you identify, and deal with, what’s going wrong. Keep the people you want to keep motivated and engaged with you and the rest of the team so that you, and your business, can grow and flourish.
Interested in using a coach to help grow and develop your business? Louise is running group coaching sessions for women who own a small/medium sized business in south east London. Maximum six participants. Get in touch to find out more.