Running a business, whether big or small, can be tough work. You would be encountering several milestones that require different strategies and resources. However, it can be more challenging for small businesses that are just starting to grow. As a small business owner, you might have already faced significant changes and problems.
Many of those challenges might come as a surprise to you despite the hard work and constant planning. While it’s impossible to avoid those hurdles, there are ways to deal with them easier, and one is having a coach who can help you strategize, upskill, and define your goals.
Every business needs an outside perspective to correct and improve certain practices. In the case of small businesses, help often comes late, and many business owners go through a phase where they don’t know what to do next. Before you reach that point, we’ve highlighted these red flags you need to look for. If any of them resonate with you, it might be time to consider finding a coach for your small business.
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1. Have No Clear Path
One of the essential things you need when running a small business is a clear and consistent vision. It is a mental representation of what you want your business to become. A vision communicates your long-term business goals and drives you to take action through a business plan.
Since it represents your business’s heart and soul, a vision isn’t something you write and forget. Instead, it’s the road map that you should revisit now and then as you go on with your business. If you find yourself waffling between business models or markets, your business might not have a clear path.
If you cannot make up your mind as to what products and services you want to offer, and who are your target customers, it may be a time to consult a business coach. You would need someone to help you realize where you want to take your business and how to get there.
Keep in mind that once your objectives and strategies do not coincide, all other aspects of your business will be affected. But a good coach can help you establish your business with a clear set of priorities.
2. Not Getting The Results You Expected
While a clear plan is vital for your business, having one doesn’t always mean you’re going to see the results you expected. It is normal, especially if your business is going through a change, such as launching a new product.
However, if your business is experiencing flat or declining revenue and difficulty staying afloat despite implementing all possible solutions, turning to a business coach might be the answer.
With proper coaching, you can improve your business in several areas, such as increasing return on investment and maintaining good cash flow.
A business coach can help you obtain deep clarity and take practical action to get and see the results you are looking for.
3. Overwhelmed By Demand
It is a good thing if you receive a high demand for your business. But even though demand signifies growth in your business, not coping with it can be something else. Your business can be overwhelmed if you are expanding too fast. Once the market demands overburden your system, it can cause a domino effect in your business.
You may encounter problems, such as difficulty honoring commitments or meeting deliverables. Your staff, processes, and even physical space wouldn’t be enough for your customers’ demands. It is a risky situation that can easily lead to overworked employees and poor customer service.
Not being able to keep up with the demand in your business is a clear sign that you need help.
But you don’t have to let your business fail because of the market’s demand. A coach can help you rethink your strategy to accommodate your growing needs without compromising your business operations.
4. Increasing Customer Complaints
Increasing complaints from customers mean that the delivery process of your business is malfunctioning. While this can be an effect of an overwhelmed system, customer complaints can also generally fall into any of these categories: product quality, process, and employee behavior.
Product quality and process are common issues. Though it can be resolved by changing suppliers, design, or manufacturing, you need a coach that can help you market your product effectively. You would need some tactics that will make the process faster and more convenient for your customers.
Unpleasant behavior of employees towards customers can affect your products and services. But while complaints about employee behavior can be fixed by employee training or change in personnel, a business coach will help you make proactive approaches instead.
5. High Staff Turnover
High staff turnover could be a sign of moral and engagement issues. While you can minimize staff turnover by a strong recruitment and hiring process, the problem might be in the management system.
When you still see a significant problem in employee retention despite screening applicants thoroughly, hiring a business coach might be your best option. A good coach can help you create effective employee retention strategies to improve retention rates.
Business coaches can help you understand both the personal and career goals of your employees. With the right coaching, you can allow your employees to pursue their goals through their positions in your business.
6. You Don’t Know What To Do
When dealing with different tasks and dilemmas every day, you are more likely to run out of ideas. Because running a business is a dynamic endeavor, you need to be strategic and creative at the same time. It can be fascinating until you encounter significant problems you don’t know how to resolve.
When you start to have doubts about your skills and approaches, it can be an early indicator that you need some coaching. You don’t need to go through a milestone you know nothing about before you ask for help.
Many inspiring business coaches like Zander Fryer would challenge you to think differently, you can have an avenue to widen your perspectives and stretch out your goals. A coach with a unique yet proven strategy can push you harder to scale up your business.
Many businesses do not realize the benefits of hiring a coach until they need one. Even if there is nothing wrong with your business, getting one is still essential. You don’t need to wait for a substantial loss in your business before deciding to ask for help. As a business owner, it is vital to be proactive in all your decisions, and a business coach can better help you do that.