Edmonton Business Coach | Why a Business Coach is Important
If entrepreneurs want to see how important hiring an Edmonton business coach is for their business. They need to look no farther than their favourite sports team.
A sports team uses coaches to help the team succeed. Because coaches have found success in that sport. And have experience winning, so they know what athletes need to do to be successful.
A coach will first get an athlete on the right training program, ensuring that they are strengthening the right muscles, practising the right drills. And let them know what diet to eat, what supplements to take and how much rest that they need to get.
A coach will also see how an athlete plays the game. And where their weaknesses are, in order to tell them where they need improvement. With all of the players, a coach will help them work efficiently together. Using the unique talents of each to complement each other and score goals.
In addition to that, a coach will actually create the place that they are going to use in order to play the game and score goals. They will hold all of the players accountable to not only practising. But doing all of the things that they have been told they need to do to be successful.
In fact, coaches are so vital to the success of a sports team. That fans would be out raged to hear that a team has fired their coach. Simply because they found the best athletes they could.
Just because an athlete is the top of their game, and extremely good at what they do. Does not mean they do not need a coach to help them stay on top.
This is exactly what Edmonton business coach will do for entrepreneurs. Help them understand exactly what they need to do, see where an entrepreneurs weaknesses are. Or what areas of their business needs to be worked on. And then help those businesses apply the strategies to help them improve.
They will ensure that business owners are being held accountable, and that they are never left wondering what to do next. Because they will have weekly strategy sessions. That they will use to track their progress, and let them know what the next steps will be.
In fact, it is not just athletes that need coaches to help them succeed. But even the top performing companies, CEOs and multimillion dollar businesses. All use business coaches to help them outperform the competition. And stay on top of their industry.
Hiring Edmonton business coach can do the same thing for small businesses and new entrepreneurs. Helping them know exactly what they need to do in order to be successful. Helping them with the execution of that plan, and holding them accountable as well.
In fact, entrepreneurs that hire a business coach are more likely to succeed, and overcome common business challenges. And be more likely to succeed and grow their business than their competition who does not use a business coach at all.
Edmonton Business Coach | Why a Business Coach is Important
Even though many entrepreneurs are extremely knowledgeable about the industry that their business is in says Edmonton business coach. Learning the skills needed to run a successful business is completely different.
And business owners often find out too late, that there are significant challenges around running their own business. And this contributes to a high failure rate of small businesses in Canada.
Industry Canada did a survey in order to find out how successful small businesses in Canada were. And what was contributing to their lack of success.
What they found, was that 15% of all small businesses that opened their business in Canada. And it up failing within the first year of doing business.
30% of small businesses failed by their second year in business. While 50% of all entrepreneurs were out of business by the time they were in business for five years.
Since this is an extremely high failure rate, they wanted to find out exactly why these businesses were closing the doors to their companies. And found some truly surprising statistics.
Canadian businesses closing their doors gave three main reasons why they were not successful. With the third most common reason being that they were not able to find staff or keep staff in their business. And was the reason why 23% of failed entrepreneurs said they close the doors to their business.
The second most common reason, affecting 29% of failed businesses. Was that these businesses said they simply ran out of money. And that was the reason that their business was not successful.
And the single most common reason why small businesses in Canada said that they failed. Affecting 42% of all unsuccessful entrepreneurs. Was that they were unable to find enough customers to buy their products and services.
And while these are high failure rates, the reasons why entrepreneurs are not succeeding. Is something that is completely preventable.
Therefore, if entrepreneurs want to avoid having to close the doors to their business due to these reasons. They can overcome those obstacles with the right business plan.
However, they also need to hire and Edmonton business coach. In order to help them execute the plan, and have someone hold them accountable to all of the tasks that they need to do.
Not only can business coaches help an entrepreneur execute their plan. But they can also use proven systems and processes that the most successful businesses and CEOs use themselves.
Because these strategies have been proven to work, when small businesses in Canada will of the same systems with the expertise of Edmonton business coach. They will be able to not only overcome obstacles, but start succeeding and growing their business.
In addition to that help, they will also create systems and processes such as templates and checklists. That are designed to help an entrepreneur grow. These excesses automate and systematize an entrepreneurs business. So that it is repeatable, and duplicatable.
Using these systems, an entrepreneur can then stop focusing on the tasks of the business. And start working on the things they need to grow such as sales and marketing. When they focus on sales and marketing, it will be more likely to grow their business. That has the ability to do so, because of the systems that they have created.