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How Small Business Owners Benefit From Coaching

How Small Business Owners Benefit From Coaching

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Small business owners run a high risk of becoming isolated. No one likes to feel alone. Often times they get to feeling that it is them against the world - that no one is willing to help fight the battle of keeping the doors open for business.
Small business owners run a high risk of becoming isolated. No one likes to feel alone. Often times they get to feeling that it is them against the world - that no one is willing to help fight the battle of keeping the doors open for business.

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Published by: Dr. Earl R. Smith II on Nov 18, 2008
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07/30/2013

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How Small Business Owners Benefit from Coaching
By Dr. Earl R. Smith IIDrSmith@Dr-Smith.comwww.Dr-Smith.comSmall business owners run a high risk of becomingisolated. No one likes to feel alone. Often times theyget to feeling that it is them against the world - thatno one is willing to help fight the battle of keeping thedoors open for business. Every so often, I get a callfrom one of these business owners. The engagementsthat result are among the most enjoyable. They find acoach who provides a new perspective and helpsthem develop a stronger skill base and fresh vision. Iget a chance to reinvigorate a dream and help it grow.If you are a small business owner, you might consider working with acoach. If you find the right one, you will realize significant benefits. Forinstance, you will gain a valued and trusted advisor whose agendamatches yours. The person helping you has your best interests andsuccess as their number one goal. No alterative motives or plotting - just a drive to help you succeed.Good coaches help you quickly identify and address importantchallenges. They help you identify your problems and determine thebest way to eliminate them. A coach represents a fresh set of eyes;they can see issues clearly that, for you, were blurred or invisible. The first step any good coach will take is a management or leadershipassessment. This reveals your leadership style and management skills.With this baseline established, the coach will develop a program tailor-made for your situation and potential. The coach will suggest areas of focus - through either leadership development or managementtraining.A second step might be to review your business plan. Often times,small business owners that I work with have not carefully thought outtheir plan - there are a lot so untested assumptions and inadequateanalysis involved. Quite often, this step has resulted in a completerecasting of the business and the value proposition. The value of good coaching is well established. Top CEO or Chairmenemploy coaches to help them refine their decision-making, leadershipand management skills. They benefit from having someone to helpthem maintain their equilibrium in the ever-changing and highlycompetitive world of business. It can seem overwhelming with the
 
weight of the company’s success bearing down on them every momentof the day. The same benefits come to the small business owner.When resources are scarce and the team is small, high productivity iscritical to success. A coach can also help address your productivity andthat of your team. He can help develop an effective plan forimprovement. A coach will help you identify and correct problem areasand improve your results and profit margins.A corporate coach focuses on developing and implementing a plan tobring your company into alignment with your goals. They are vital increating your new guidelines and aiding in your decision-makingprocess. Some of the areas a coach will focus on are goal planning,organizational skills and of course time management. Another greatskill that a business coach can teach you is how to develop a system tokeep you on task and focused on the true priorities.Coaching can mean the difference between succeeding and failing. This is as true for small business owners as it is for executives in largecorporations. The business world has become more competitive. Evensmall mistakes can cost a business its future or an executive theircareer. Small business owners - because of the tendency to becomeisolated - are particularly susceptible to this risk. Coaching at key timescan radically reduce the changes of loosing your business or missing achange to make it soar. If you want to know more about how coachingcan help,send me an e-mail and we will arrange a time to talk.~~~~~~~~~~Related Articles:
Selecting the Right Coach~~~~~~~~~~Dr. Smithis a proven senior executive, successful entrepreneur,published author and public speaker. He serves on boards of directorsand advisory boards or as a strategic advisor to CEOs. Dr. Smithspecializes in turnaround management, strategic planning, leadershipdevelopment and executive coaching. He also works as an executiveand/or life coach in the areas of personal growth and spirituality. He is

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