Updated: Jul 13, 2021
A strategy coach helps you define your goals and your business strategy. They give you advice, support and accountability so you execute your strategy well and reach your goals. But when does it make sense to spend the time and money with a coach? Below are five reasons you may want one:
1) Define your true goals for the future
Most of us have lots of vision around how big we would like our business to get or what we want our lives to be like, but we rarely write them down and make a plan to get there. By talking through them with a coach you can determine feasibility and timing then create an action plan.
2) Prioritize your laundry list of growth concepts
How do I get all of this done? What should I work on first? With a coach you can work through an analysis to prioritize your ideas based on multiple factors including value, ease and strategic fit. Together with your coach you can come up with a plan to bring your big ideas to reality.
3) Confidence to invest in more people, property or equipment
Before you make a big investment, you can run through a financial and risk analysis with your coach to ensure you are making the right decision. You can also brainstorm and work through other options to fine tune your plan to increase your chance of success.
4) Confirm you are making the right decisions
The saying “It’s lonely at the top” is so true for a business owner. Sometimes you need to bounce ideas off somebody and get unfiltered, qualified input.
5) Identify and mitigate business risks
It isn’t all about growth. There are issues in every business and it is critical for a business owner to know what they are. With guidance from your coach you can identify those risks and decide if they need to be addressed. If so, together you can come up with a clear action plan to reduce the risk or modify the business model.