Before I continue I think it's is important for you to know that I do not make any money from small business coaching, however, I do provide (voluntary) business advice and mentoring to a number of local businesses, I therefore write this post with no particular agenda.
There are numerous business coaches out there looking to offer you business advice in exchange for some of your hard earned cash. The question is does this work and is it worth the investment?
As I have worked with numerous businesses it has become clear to me why some grow whilst others remain static never able to step up to the next level despite gave good advice.
The simple fact is that those business owners who successfully grow their businesses have a vision of the future, that vision might simply be an increase in annual sales or a doubling of employees.- Just one figure! The others who are less successful at growing their businesses most often run their company on a day to day basis and as a result have no clear goals. Whilst I am able to offer valuable advice to these businesses I rarely see them implement it effectively as the current status quo is more comfortable for them than the risks of doing something different.
To grow your business the first step is to accept that you are at point "A"
Now you simply need to define a point "B". It doesn't matter what point "B" actually is but now becomes a growth objective / target. For example 15 employees or £250K profit or £1M turnover etc
Once the target is established we simply need to work out how to get there, and in these circumstances any experience business advice or coaching that you can get will be valuable.
The problem is that most businesses have never defined that point "B" and they hope that a business coach will provide them the answers. It is my firm opinion, based on working with numerous businesses, that defining a point "b" or the growth objective needs to come from the business owner and whilst a third party may suggest ideas for objectives, unless these goals come from the heart of the business owner then it is unlikely that the motivation will exist to make them happen.
I therefore believe that if you plan to part with your hard earned cash for business advice or coaching then you do so only after you have established your own growth goals. Should you employ the services of a business coach before this point, you will be spending money needlessly as you have to set and commit to these goals and not a business coach.
Once you have established your growth goals and objectives and you are 100% committed to them a small business coach / mentor can provide experience ,strategies and planning that will make it happen.
To summarise, do not think that paying a small business coach will solve your lack of direction. You must decide your own future and then with the help of others work on a plan to get there.