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Traction Inc.

29 Jun 4 Signs that Your Small Business Needs a Business Coach

Posted at 08:00:00 by Chris Hallberg

Signs you need a small business coach

There’s no question that a small business coach can help a company grow and get on track with organizational goals. They can help any business get better, but when it is in critical condition, a business coach can be a life saver. Even if you don’t realize that your business may be in trouble, a small business consultant can identify potential problems before they become big problems. Do you need a small business coach? If you are dealing with any of these issues your situation might be approaching critical – and the answer would be a resounding yes.

You’re Working Too Many Hours

You work – a lot. You can’t remember the last time that you took a vacation, and your partner is starting to complain about how long you’re in the office. You are working through lunch, you miss dinner, and sleep deprivation is your new normal. Working too many hours is actually counterproductive, especially when it comes to building your business.

When you are working too much it typically means that you are trying to do too much. In other words, you are trying to wear too many hats. When you try to carry the load on too many different things, something is going to suffer. If you are trying to focus on sales, but also manager your employees, market your company, and build your brand, you are going to fall short somewhere.

A coach can act as a small business mentor and help you work through the chaos. They will help you prioritize, delegate, and get your life back.

Your Business Doesn’t Have a Clear Direction

What is your elevator speech for your business? Do you have one? Can you succinctly describe your company’s vision and goals in just a few seconds? When you’re struggling to define the vision of your business it can be difficult to get anything done. You move from one thing to the next without focus, your marketing is a mess, and your customer loyalty is slipping.

Every business needs a clear vision, a direction. This vision is vital for not only building the business, but also for attracting and keeping customers. If you don’t have a vision you can’t set clear goals that will propel you toward the success you want. So many small businesses fail because of this simple error.

A small business coach can help you hone your focus and create a vision that is direct and clear. They will help you identify goals to support that vision and help your business grow. Organization is important in any business, large or small, but in small business being unorganized can be disastrous.

Is your business operating at maximum efficiency? Come explore our EOS Organization Checkup to find out! 

Your Turnover Rate is Painfully High

Turnover rates can be very costly to any business. Some industries have higher turnover rates than others, but even a $10 employee in the retail industry costs a company around $3,000 to replace them. The hospitality industry is notorious for having a high turnover rate. In 2014, the voluntary turnover rate for this industry was 20.3 percent. The total was 27.6 percent. Utilities has a fairly low turnover rate. In 2014, it was 6.9 percent for voluntary and 8.6 percent overall.

Each of these industries is vastly different from the other, but it is more than just the industry or even the job itself that leads to a high turnover rate. Often it is due to issues within the organization that lead employees to leave. Management is an often cited reason for employees leaving. Usually they feel that they simply have a bad boss. This term has numerous interpretations, but what it boils down to is if an employee feels that they aren’t being treated well or fairly, most of the time they will leave.

A small business coach can help small businesses identify organizational issues and provide strategies designed to keep employees on board. They can come in with fresh eyes and see potential problems that you may be too close to see. Then they will help you solve them.

You’re Struggling to Identify Why Your Business Isn’t Growing

You feel like you are spinning your wheels. From what you can tell, you’re doing everything right, but your business isn’t growing. You purchased all the right software, hired a great team, and even have a clearly defined vision. Still, you are in a rut and your business is going nowhere. Despite your best efforts you feel that you are sinking, or just as bad, can’t break free from the status quo.

There are many possible reasons why you aren’t reaching your business goals. All too often the business owner is simply too close to the situation to have an objective view. This is especially true if you are trying to do everything. You are one person; you can’t do it all. You need a small business mentor.

A coach will come in and thoroughly examine your business. They will review your policies, procedures, and processes to find weak points. They will talk with your employees to gain insight into the inner workings of your organization and seek out any hot spots or potential trouble areas. Often they can spot problems before they get a foothold in your company.

Is your business operating at maximum efficiency? Come explore our EOS Organization Checkup to find out! The Entrepreneurial Operating System (EOS) was created by Gino Wickman (Author of Traction-get a grip on your business) and is a registered trademark of EOS Worlwide. Chris Hallberg of Traction Inc. is a Certified EOS Implementer(tm) that helps business owners and their leadership teams get more of what they want from their business. Learn more about EOS and contact us for a free business coaching quote.

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The Entrepreneurial Operating System (EOS) was created by Gino Wickman (Author of Traction-get a grip on your business) and is a registered trademark of EOS Worlwide. Chris Hallberg of Traction Inc. is a Certified EOS Implementer(tm) that helps business owners and their leadership teams get more of what they want from their business.

Topics: Business Advice, Business Coaching