Getting a Business Coach that is the right fit for your business can often be a difficult process. It is a diverse industry, and the low barriers to entry mean that it is filled with many coaches with no idea about the the importance of numbers in a small business.
A coach who only understands Sales or Psychology, is missing the main game, and the fact is, these so-called coaching specialists don’t admit it. The massive hype around taking your business from 6 to 7 figures, clouds what they actually bring to the table.
No wonder the business owner often makes the wrong choice.
And it’s not the business owner’s fault.
For them, it’s often the case of what you don’t know you don’t know. Numbers are typically something they shy away from, but that is the BIGGEST mistake they make.
I’ve often taken on clients that have been with a coach previously and been burnt what I call textbook coaching. There is alot of work around “concepts” for little result…. All sizzle, no steak.
Getting a Numbers savvy coach is critical. Fact is, the numbers don’t lie. The information that comes from the numbers in your business is an absolute goldmine. Failing to be on top of the numbers simply means you are operating your business by remote control. Very little focus on profitability or cashflow. Poor financial management in a business typically leads to overwhelm and stress for the business owner. Unfortunately, working on Sales, Marketing and Mindset, whilst important, is all in vain if it is done in ignorance to the numbers.
By making sure you choose the right coach you will:
– Avoid investing significant time and money for little result.
– Focus your coaching on the areas that are priority for you business.
– Get Accountability on the correct Numbers
– Achieve financially relevant outcomes, which enable everything else in your world.
What should you be doing?
1. Speak to your Accountant – Are they interested in growing your business? Are they interested in your overall goals for your business and personal lives? If they aren’t maybe it’s time to start researching better options.
2. Start researching coaches – Look for not only someone who is good fit personally, but also someone who has the ability to tell it like it is. You do NOT want a coach who simply agrees with everything you say…what is the point of that.
3. Ask your shortlist of coaches for their qualifications – You are looking for some level of formal business study as well as practical experience and business smarts. If possible get contact details for any reference clients.
4. Get Number Savvy – Nothing beats getting a good understanding of your own numbers. There is a wealth of information around but check out our Operation Beancounter course, designed to not teach you to be an accountant, but be able to have a sensible conversation when it comes to your finances.
Getting a GREAT coach can massively improve your business, but you need to get the right one, and they MUST understand the numbers. I’d love to hear your thoughts on what makes a GREAT coach…feel free to comment below or get in touch with me at davidr@direction.com.au
