4 Important Reasons Small Business Owners Need Coaching in Nigeria
- January 15, 2020
- Posted by: Nkem Mpamah
- Category: Coaching
The best performers in sports – footballers, athletes, or tennis players, have coaches. In business, every high performing executive, including Bill Gates, Eric Schmidt, Steve Jobs, and Elon Musk know that achieving sustainable growth personally and professionally is a struggle without business coaching. Consequently, small business owners need coaching to survive, grow, and enjoy the freedoms of entrepreneurship.
Contrary to popular thinking, business coaching is not food for the “big boys” only. Small business owners and entrepreneurs can benefit tremendously from investing strategically in coaching also. Whether you want to start a new business or grow your existing business faster, coaching can help achieve your biggest goals. Here are four important reasons why small business owners need coaching.
Every business that enjoys sustainable growth has a vision. Although many small business owners misunderstand vision, its relevance to growth remains intact. Let me explain… A well-articulated vision consists of two key components – Core Ideology and Envisioned Future. Core ideology, comprising of Core Purpose and Core Values defines why a business exists, and what it stands for. They underpin how small business owners make decisions and the actions they take. As the heart and soul of every successful business, they make for why successful business owners are in business. On the other hand, Envisioned Future is the future that businesses aspire to create, become, or achieve.
Many small business owners don’t know their core purpose, core values, and the future they are going toward. Those who claim to know, don’t know beyond writing them on paper. Small business owners need coaching to articulate a bigger and brighter future that aligns with their core purpose and core values. They need the support of the coach to identify actions they must take consistently to reach the vision. When goals don’t align with core purpose (why you exist) and core values (what you stand for), small business owners lose focus of their important priorities; as a result, they struggle.
Gain New Insights and Fresh Perspectives
You might think that being a successful small business owner means that the person already knows everything about the business. Not so in reality, but is an advantage that small business coaching can create. Quite often, many of my clients reach “Aha Moments” when we work through reflecting on their past, present, and forward. At that point, their “light bulb turns on,” and they see clearly, the path to the future they seek. Obviously, small business owners need coaching to think outside the box and capture a glimpse of the future they want.
Develop Accountability Partnership
To hold someone accountable for his or her own commitments is the primary reason smart business owners invest in coaching. Accountability is having the discipline to do what you say, and stop what you’re doing that drain your time and energy. Small business owners who hire coaches enjoy the privilege of someone they can trust to check in on them at intervals to ensure that they are executing their actions as planned. Accountability is therefore required if you want to understand how to create high-performance and sustain progress in your business.
Free Up More Time
Time is one biggest resource that most small business owners and entrepreneurs don’t have enough. They want to create new products and services, network, resolve customers’ problems, and relax with loved ones, but they can’t. They run out of time perpetually not because they are productive, but because they are trapped in complexity. As a small business owner, you need more free time to rejuvenate your body and improve your creativity. An experienced small business coach can help simplify the pattern of your work life and gradually increase your free time.