How Much Money is This Costing Your Small Business?

How Much Money is This Costing Your Small Business?

allenamento duro

allenamento duroOne of the biggest mistakes a small business owner can make aside from developing a debilitating cocaine habit is to not invest in a coach. It doesn’t matter if you have a graduate degree from Yale or high school diploma anyone can reap the benefits from a solid coach in your small business.

The problem is, most small business owners (even the highly motivated ones) are overly emotionally attached to the outcome. Because we are so passionate about what we do, we can get tunnel vision an often miss the forest size opportunities due to the trees sized issues we are focused on.

Have you every had a car where something breaks and after awhile you just forget about it? You don’t give the problem a second thought until a new passenger comes in and gives you a hard time- reminding you about this problem you have become blind to. A good coach can operate like this and will give you perspective that you can’t or won’t see because you are just too close to the situation- often saving your sanity and every now and again, your business.  For the last 20 years I have been involved in one form of coaching or mastermind group or another, often having multiple coaches or groups at a time. This single practice has likely made/ saved me more money and brain damages than any other.

That brings me to my next rant/ point. Coaching isn’t always the tight little box many small business owners think it is- 1 on 1 you paying someone to help you. I know many small business owners who feel as if certain authors they have read a lot of are their coaches. If you really want to stretch the analogy and give yourself an excuse to have some fun, go watch an episode of Shark Tank or The Profit and call it free coaching! A mastermind group is another fantastic resource. These can be as small as 2 and as big as 20 meeting religiously every week or maybe only 3-4 times/ year.

Coaching and masterminds vary in cost as well. I have been in free groups and I have been in groups/ relationships that cost $20,000/ year. As hard as it is to write these checks, I have typically found that the more expensive groups are filled with higher caliber, more committed people that have more to contribute. Funny how writing a big check tends to improve your listening skills…

All that to say, get coached early and often. Don’t be afraid to invest in yourself. Before you go, lets take this concept out for a spin- share an issue below and let Genius Nation chime in and coach you up. I will even throw my two cents in the mix…

 

4 Comments

  1. Austin King says:

    I couldn’t agree more about the tunnel vision that can develop involving a small business that you own. Sometimes we must put our ego’s to the side and seek advice and counsel when we are unsure our business decisions are wise.

  2. Todd Jacobs says:

    Having that coach figure in your life and business really pushes things forward, I can attest to that. Being in the creative field, it can be especially hard for both me and my team to seperate ourselves from our work and look at the bigger picture. I’m 110% happy I brought my team to some seminars/had speakers come in the office.

  3. simon weild says:

    This is very enlightening. Thanks for sharing.

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