Traction Inc.

The new year is a great time to put your intentions to practice. If you have visions of starting a small business, you can take practical steps to make that dream a reality. By taking time to plan, research and carefully execute your business idea, you can develop something that's a financial success as well as a personal passion.

If you're like many small business owners, you're a self-directed, self-sufficient, driven person. Those qualities are a big part of how you got to be where you are. But no one can go it alone forever. At various stages in their career, many small business owners find themselves in situations where they need a little outside guidance and perspective. This isn't surrender or a sign of weakness: It's a natural part of a business' development.

Many budding entrepreneurs believe that a successful business only requires hard work, a great idea and good customer service. While these are integral aspects of fruitful company, lack of experience on the inner workings of running a business can lead to failure. This is why you must understand how to find a business coach. You probably want to know what a business coach can do for your company before seeking one out, so here are a few important factors you should understand.

Whether you’re a few months into your new startup or the owner of a profitable company that’s served the community for years, you understand that running a business is anything but easy. One way of relieving some of the burdens you face is by finding a mentor. If you’ve already decided this is the right course, you’re likely asking what you should look for in a business mentor. For those still on the fence, however, here are some of the most important reasons to hire a business mentor.'

When your business is failing, it's understandable to face the feeling of defeat or having the urge to give up. However, a failing business isn't a reason to quit. While about 50 percent of businesses fail within five years, you don't have to be a part of that statistic. There's still time to turn your business around. If you want to know how to turn around a failing business, there are some key steps that you need to take:

If you've started a small business, you know just how important it is to have someone along with you for the ride. It helps if that person has done it before and, preferably, a lot of times. That's why many entrepreneurs choose to have a small business coach guide them through the process — someone who has already been down that road and understands the challenges of starting your own company.

Business coach and entrepreneur, Chris Hallberg, has spent more than 17 years helping others build a solid foundation for business success. Those in the small business entrepreneurial circles refer to Hallberg as the "Business Sergeant." He earned this title by creating a successful business philosophy that intertwines his elite military and law enforcement training into an effective and efficient business operating system.

EOS, or the Entrepreneurial Operating System®, is a system designed to help businesses streamline their operations toward the goals you want. EOS has several components, and some business owners who have no prior experience with it find it esoteric.

Business mentors offer guidance and support to maximize business growth. Research shows that 70 percent of small businesses who receive mentoring services survive for five years or more — twice as long as companies without a mentor. Not all business mentors are the same, however. Only mentors that use the Entrepreneurial Operating System (EOS)® — a set of concepts that optimize vision, traction and company health — provide you with the tools you need to jump-start your business. Using an EOS mentor is an effective way to organize your business, invest in strategic growth and improve accountability.

Every entrepreneur starts out with the goal of staying organized and on top of everything. Unfortunately, as the business grows it’s easy for even the most well-intentioned entrepreneur to get overwhelmed and lost control of their business. This issue coupled with time constraints can quickly lead to bad organizational habits that ultimately affect the overall success of your business.