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Business Coach: 5 Signs that your business needs a mentor

Business Coach: 5 Signs that your business needs a mentor

We are entering a new economic reality: the constant and brave growth of markets has stopped, and in some industries, there is stagnation or even stagnation. If before you could do anything and be successful, now to survive, you have to become efficient and productive. First of all, it is relevant for a business coach, owners, and top managers.

Realizing that the conditions are not the same as a couple of years ago, we try to change: we go to training, hire business coach and consultants. We are seriously thinking about sitting on the student bench of a decent business school. However, there is another opportunity, probably the most valuable – to find a business coach or mentor.

Many people either do not know about this opportunity or do not fully understand its true purpose and benefits. That is why we will first define the terms.

Business coach- the most effective and efficient entrepreneur, who solves the business problems of another (usually less productive) entrepreneur by transferring their own experience; undertakes to bring instructs to the goal.

If the consultant solves the task you showed him, the business coach asks questions, trying to find answers in your head, the business coach removes mental limitations and offers options based on their own experience. 

There are five basic signs that you vitally need a mentor or business coach

1. Successful people are united by one circumstance: at some point, they successfully chose a business coach. For a short time and not in everything, but they connected to someone’s experience. took into account their mistakes and surpassed someone’s success. Not everyone is so lucky, that’s why success and wealth are so unevenly distributed in the world.

An excellent example is who admitted that he planned to build a company with a turnover of $ 10 million a year, and a business coach helped him reach $ 100 million. He also saved the company several times, helping focus on the main goal.

2. High levels of stress

General pattern: the bigger the business, the higher the level of stress. An entrepreneur, especially a successful one, is constantly living in a state of uncertainty. which can give uncertainty about future results. Moreover, being in the same routine of life, we are burdened with a limited vision: part of the difficulties seem to be solved exclusively at the level of the universal scale, the other part – an insignificant trifle.

A business coach as a breakwater, smooths out unnecessary emotional stress, translating the situation from the realm of feelings, sensations, fears, and experiences into a rational and structured picture. He is a living and clear example of how current difficulties can be dealt with. Reducing stress often makes the entrepreneur an order of magnitude more effective.

3. Uncertainty of prospects

By this, we mean situations where the business is either experiencing a period of stagnation for a long time or brings damage and it is unclear what to do with it. Everything you knew, you tried: it doesn’t work.

At some stages of business development, entrepreneurs face very similar problems. Our experience shows that novice businessmen talk the most about sales, at the next level of maturity there are issues related to the delegation of authority, then – people management, strategy, etc.

Very effective help in making specific decisions can be provided by someone who has already passed this degree, and did so not so long ago. A business mentor can, on the one hand, support in solving specific tasks, and on the other – to show the point of multiple growths, which usually lies in the zone of discomfort – where the person himself will never go. For example, often the limitation for the entrepreneur is the fear of loss; it seems to him that he lacks any knowledge. He goes to study, develop skills, but the difficulties do not go away.

4.This is a situation where there is no clear and understandable goal. The entrepreneur tries to accomplish several goals at the same time, but in the end, manages to achieve only a small part of the plan.

It is possible to be mistaken in operational actions, but it is impossible to be mistaken in the direction. However, to keep one goal in mind for a long time, to compare all your actions and priorities with it is quite difficult, especially when the environment is full of different temptations. We constantly see that entrepreneurs are trying to sit “on two chairs”, running several diverse businesses. One of the main tasks of a business coach is to focus on the main thing for a long period of time. Experience shows that if this works out, then in most cases a successful outcome is guaranteed.

5. Planning horizon – several months

In such a short time it is impossible to achieve ambitious goals, as it is almost impossible to accumulate significant resources (financial, temporary, intellectual). Unfortunately, the operating room often does not allow you to raise your head, look in all directions and make a program for a longer period. 

Here is an example from everyday life. People who make a plan for the month, have one monthly salary, ie can afford to plan the purchase of a good suit, for example. Those who have a goal for the year, have an annual income and can encroach on the car, and with a five-year plan – to buy real estate. 

The conclusion is simple: someone who plans only for a month will never buy an apartment. This is the situation in business. The business coach helps in this case to set a goal.

In summary, I would like to note that every entrepreneur who wants to be successful needs a business coach. Usually, another question arises: how to find it? We would recommend using special mentoring programs. Today it is available to everyone – you just have to want and show an entrepreneurial approach, and there is no shortage of our people.

Rob Prosser

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