Entrepreneurship is becoming an increasingly popular business option. According to Inc., more than 27 million Americans are starting or running their own businesses. Despite the popularity of entrepreneurship, the challenges of becoming a successful entrepreneur are many. Current research shows that more than 50 percent of businesses fail before their fourth year, and by some accounts, most of those failures occur much more quickly than that.
So, how can you increase your odds of becoming a successful entrepreneur?
Besides learning basic business skills, doing your homework and being prepared, you can hire a business coach. A business coach can help you both in starting your business and in guiding you through your business growth. While any survey results would be subjective, in one such study respondents who worked with a coach reported their income as 60 percent higher than those who didn’t.
What are some of the ways a business coach can boost your success?
Here are four ways a business coach can boost your success.
- A Business Coach Can Help You Discover and Develop Skills Essential to Your Success
As you start your business and begin to grow, you are likely to discover there are some areas of entrepreneurship that are new to you. Your business coach can help you to discover and develop some of the skills essential to entrepreneurial success BEFORE you run into a challenge caused by the lack of those skills. Your good business coach will be familiar with business management, and be able to direct you to the resources you need to develop your business management skills.
- A Business Coach Can Help You with Business Strategy and Marketing Planning
A solid business strategy and marketing plan are both essential to the smooth growth and success of a business. Your business coach can help you begin planning for that growth from the very beginning of your business. In addition, marketing a business has become increasingly complex. Without a cohesive marketing plan, your business could be throwing away money. Your business coach can help you create that cohesive marketing plan and ensure that your marketing dollars are being spent wisely.
- A Business Coach Can Help You with Goal Setting and Achievement
In the early stages of a new business, it is so easy to get wrapped up in the day-to-day operations of business, that it’s easy to lose sight of longer-term goals and objectives. Your business coach can help you refocus on life and business beyond the day-to-day, and set the goals you need to achieve lasting success. Your business coach can also keep you accountable to those goals and focused on the things you want most.
- A Business Coach Can Help You Develop Your Work-Life Balance
Many new business owners fall into the trap of growing their businesses to the exclusion of everything else in their lives. While fledgling businesses do require a lot of work, all work and no play makes Johnny a dull boy. Countless studies have shown that rest is essential to our success. Ignoring essential personal relationships is also detrimental to both your personal and professional well-being. Your business coach can help you to re-evaluate your time, life and business, and find the right balance that will allow you to soar in your business without giving up the rest of your life.
Are you ready to move forward in your business? Would you like to learn more about how a business coach can boost your success? I work specifically with entrepreneurs and small business owners to help them grow successful businesses. Message me today at this link if you would like more information or a complimentary business evaluation to see how this business coach can boost your success and help you achieve your entrepreneurial dreams.