How Hiring a Business Coach Can Grow Your Business

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Did you know that the number of active businesses in the US dropped by over 22% due to the COVID-19 pandemic? Businesses in every industry experienced a steep fall in their profits and had to reduce their staffing by an average of nearly 40% to compensate!

Business coaches are often significantly experienced at successfully running businesses. This qualifies them to help fellow business owners grow their business. So, if you’re wondering how a business coach will help grow your business, here are the main points to consider.

They Can Improve Your Skill Set

Successful business owners must ideally possess “soft” skills such as leadership and “hard” skills such as accounting. However, it’s unrealistic to expect every business owner to be fully skilled. Hiring a business coach can help owners run their business more effectively. This boosts the chances of business growth and success.

If you’re a business owner, then it pays to be aware of gaps in your skill-set. We recommend having an honest conversation about your skills with your business coach as this will create better synergy between you two.

They’re Unbiased

Research shows that business optimism fades as business owners gain more experience. In other words, inexperienced business owners are prone to overestimating what their business is capable of. Whether your bias is intentional or not, hiring a business coach will eliminate it. They’ll help you stay grounded and make decisions based on facts rather than opinions.

They Provide Networking Opportunities

Stakeholders are people that have an interest in the decisions of businesses. If you want your business to be successful, then you must build relationships with stakeholders. This process is called networking and is especially crucial to new businesses looking to grow.

Hiring a business coach gives business owners access to stakeholder networks that they may be unable to reach on their own. For example, a business coach might know investors that can provide funding to help a business owner grow their venture.

They Hold You Accountable

Accountability is a crucial aspect of successful businesses. For example, if a business improperly files its income tax returns, then the owner must hold themselves accountable and correct the mistake. Failing to do so could lead to hefty penalties that’ll hamper your business’s growth.

Small business owners often hire a board to keep them accountable. However, we recommend making things easier and simply hiring a business coach. They’ll ensure that your business complies with all rules and regulations !

Money on a table

Stan Mann is a professional business coach who has helped thousands of small businesses grow in over 50 countries. His E-Learning Marketing System is the world’s first business coaching program that offers a complete package to grow businesses of any size. From setting up dynamic referral systems to writing persuasive marketing copy, Stan and his team of experts will help you do it all.

Contact him today to learn more.

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