Who do you talk to? Running an SME can be a lonely place - you are either leading your team, formulating strategy or working on business development. When do you get the time to take a breath, think about the bigger picture and assess your business Growth Strategy?
A good business coach is like having an impartial co-director in place at timeous intervals. They can listen to your concerns and, through impartial listening and asking questions; they can put things into perspective for you. They have no hidden agenda and have the ability to ask searching questions.
A business coach can help you prepare your strategic vision. Knowing exactly where you are now with your business and where you would like to take it over the mid-term is invaluable. Having a business coach who will listen to your plans, discuss them with you and then have the know-how to help you formulate an action plan can be priceless.
How do you remain accountable for your own activity? A good business coach will have the expertise to keep you accountable for your action (or inaction) and help you stay on track in terms of your strategic plan. This can be invaluable for a busy SME business owner who can be easily side-tracked.
Are you really getting the best tax planning advice? Do you have a strong relationship with your business advisors, such as your accountant or your bank manager? Most reputable coaches will be well versed from client experience in what your business needs in both the short and mid-term. An added benefit is that they are usually very well connected with financial advisors who will take an active interest in you and your business success.
Working with your team. Many SME business owners are often too involved in day to day operations to consider an exit strategy or how to develop or maximise the potential of some of the top performers within the team. They are then disappointed when those same team members are either headhunted or leave to set up their own rival business.
Engaging a Business coach to ensure these resources remain excited about their prospects (and could potentially become the exit strategy) is a valuable investment. Beware however; as a business owner, you will need to be fully engaged with the coaching process throughout.
Aspen Waite work closely with coaches throughout the UK, and with Johno's expertise in the area we are well positioned to advise you on all aspects of your business.
If you'd like more information get in touch.