Traction Inc.

If you're a business owner, chances are you like venturing out on your own and making your own decisions. But to make your business everything it can be, you'll need guidance from an outside source. A qualified business coach can bring a fresh perspective and a level of expertise that can make the difference between a mediocre and a highly successful business. There are several specific things a business coach can do to improve your business.

Owning your own business might seem like a dream come true when you’re working for someone else; but once you’re in the front lines of entrepreneurship, you’ll find out just how hard it is to fly solo — unless you have a net. Here are five of the biggest challenges of owning your own business — and how a business growth coach can help.

As an entrepreneur, hiring the right people to work with you will likely be some of the most important decisions you will ever make. Apple guru Steve Jobs understood the importance of onboarding the right team right from the start. He noted that "when you're in a startup, the first ten people (you hire) will determine whether the company succeeds or not." It is for this very reason that the EOS® (Entrepreneurial Operating System®) platform considers People as one of the top six pillars of any business model.

No matter how well your business is running there's always room for improvement. Whether it's more sales, greater customer satisfaction or increased employee performance, your business likely needs a boost. This is where business coaching and consulting can play a vital role. Before deciding how to utilize these services it's important to understand the differences between business coaching and consulting.

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.