6 Signs You Need a Business Coach to Grow Your Business

Posted by Chuck Kocher
On April 15, 2024

Nobody starts a business with the intent of seeing in flounder or fail. And yet, a huge number of businesses fail every year. Interestingly enough, a lot of these businesses fail for a small number of reasons. Let’s look at some simple reasons many businesses don’t make it—and how a business coach can help you succeed. Here are 6 signs you need a business coach to grow your business.

  1. Stagnation

Sometimes a business gets stuck. There’s no change in sales or revenues. There are no new ideas. Employees (and even business owners) can get trapped by the everyday activities it takes just to keep things going. Let’s be honest: Change can be uncomfortable. Not changing, however, can be deadly for your business. Not only will the business stagnate—it will eventually die. A great business coach doesn’t just help you do the same things a little better. He or she challenges you to look at your business in a different way so that you can operate differently and grow.

  1. Fuzzy Vision

Often companies don’t really have a clear vision of what they are about. They’re missing a Big Idea that drives the company. One way to test this in your company is to ask employees to tell you what the company’s goals are. If they can’t accurately tell you what the business is all about you’ve got a problem. It’s hard to challenge and motivate people if they don’t know what they’re working for. A business coach helps you focus your goals and vision so that it’s crystal clear.

  1. Strategy

Having a clear vision is great, but visions don’t fulfill themselves. You need specific strategic business plans to accomplish your goals. A business coach helps you set strategy that will accomplish specific tasks and goals. A great coach doesn’t just offer you a set of ready-made plans. He or she takes the time to get familiar with your company—looking “under the hood” so to speak—in order to help you form strategies that fit your particular company and market.

  1. Poor Performance

There are companies that know what to do—but they simply don’t execute. There is no sense of personal responsibility or accountability. A smart business coach will help you learn how to ensure that employees at every level know exactly what their responsibilities are—and that they’ll know they will be held accountable. Your coach will help you establish systems that ensure productivity and execution are tracked regularly. That enables you to identify poor performance and take specific steps to correct it.

  1. People Problems

Personnel problems are a big reason that many companies don’t grow. These problems can manifest themselves in a number of ways. If you have a high level of turnover among employees, that’s a danger signal. Or you might have a number of unqualified employees who never seem to achieve what you need them to. Both of those things can come from not hiring the right people. A top-notch business coach will help you develop your hiring skills so that you hire A-level employees that will drive your business forward.

  1. Constant Cash Crunch

Nothing derails a growing business faster than a lack of cash. Growth requires money. The answer, however, isn’t necessarily to find new investors. The problem may be with the way you handle the cash you already have. A great business coach will help you examine your cash flow and find ways to improve it. By the way, even if bringing in investors is the right strategy for you, smart investors won’t invest in a company that doesn’t have a disciplined approach to their cash.

Growing businesses face other challenges as well, but these six are often at the root of a company’s struggle to grow. To be honest, this really isn’t rocket science. There’s a good chance that you actually know most of this already. Knowing this information is one thing. Consistently putting it into practice is something else entirely. A certified business coach doesn’t run your company for you, but he or she works with you to bring out the best in you and your people by providing insights, insisting on clarity, and helping to hold you accountable for the goals and strategies you decide on.

I invite you to click on the orange button below to take a 5-minute assessment that will help you see where you stand in these and other areas that may be keeping you from the kind of growth you want to experience.