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Why Startup Business Owners Need a Coach

Posted by Scott on July 3, 2018 in Business Services |
Remember the old adage that it takes an entire village to raise a child? This is true not just in terms of parenting but in the world of business as well. A successful company is not built overnight. And neither does it take just one person to build a business. No matter how skilled or knowledgeable you think you are, you just cannot know everything to handle on your own. A business coach is designed specifically for this purpose. They provide an objective point of view so you can take your business to the direction you want it to.
There are a lot of misconceptions with how a business coach works. Some people believe that this coaching service is designed for business owners that are clueless about what to do, or those in conflict. However, coaches have more to offer than that. It is hard to define the role that coaches play but anyone who has enjoyed their services before can attest to the fact that they are an indispensable part of any business.
These are important reminders that will exemplify how beneficial coaches are for businesses:
Startup Failure Rate is High
Running a business is a lot of hard work. For this reason, failure rate for startup businesses is deemed high. In fact, business experts state most new businesses have a failure rate of 50 to 70 percent. This data might seem intimidating but it is true. You are not doomed because a coach can help navigate the tricky situation of operating a business for the first time.
Initially, a coach can guide business owners with compliance of requirements. Once the business has got going, they will also provide assistance when it comes to the operational aspects of the business – getting new hires, staying on budget, and other logistics. For a business owner with limited knowledge on business operation, managing all of these aspects can be overwhelming. But an experienced coach can simplify the process and give you the organization you need.
Take Your Business to the Next Level
During the initial years of business operation, the coaches’ aim is to help the business stay afloat. Survival of the business is more plausible with an expert hand guiding every step of the process. But a few years into the business operation, your priorities change. Your goal should shift towards aiming for improvement and growth of profits. Coaches can provide counseling on how you can build more customers and retain them. In addition, they will also give insight as to what you can do to improve how the business operates to suit your business’ changing needs and demands.
The growth stage is the most risky phase in any business. Your ability to adapt to these changes can make or break the business. It is a coach’s responsibility to keep your goals in line and ensure that you keep your focus on what is most important, rather than lose sight of the bigger picture.
When it comes to business coaching, Matthew Pollard is a renowned name in the industry. He is an experienced business coach and considered a guru in the industry. If you want to make it easier to get your business started on the right track, Mr. Pollard is the one you need to work with. You can learn more about his expertise and experience here: http://matthewpollard.guru/business-coach/.

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