What is the best business advice?

If you want your business to succeed, the advice is very simple, get a coach! Why? Note what Bill Gates said: “We all need someone who will give us feedback. That is how we improve!” A coach will do that for you much better than anyone else can.

Why did Bill Gates say this? Why is unbiased, quality feedback so important?

We may feel that we are already experts at what we do and so don’t feel the need for feedback as such. While this may be true to some extent, remember that the product or service we offer is only one third of the picture. Our role as technician is what we enjoy and is what we excel at. The other two “thirds” or roles are just as important. Let’s consider them here:

The next third is the role of the manager. This involves book keeping, invoicing, ordering of stock, rent, cashflow forecast, recruitment etc. Have you learned the skills for the role of manager? If you are relying on a family member or friend, are you sure they have the skills for these things? Even if they do, how can you be sure they are doing them right? Feedback as you develop your own managerial skills is crucial to the success of your business. A coach will give you this.

The final third is the role of the entrepreneur. The entrepreneur sets the vision for the business. They determine where the business is going and how it is going to get there. They put together a 5 year plan so they know how the business will look in 5 years time. They also create a 90 day plan to work out what needs to be done to keep the business on track to complete the 5 year plan. The entrepreneur works hard on the sales and marketing to make sure the business stays on track. So how are your entrepreneurial skills? A coach will give you the feedback you need and so much more.

Can you see how as a business owner, you actually have 3 roles: technician, manager and entrepreneur? Most business owners fill their time with being the technician and so never develop the other two roles and so their businesses fail. A good coach will give you the feedback, strategies, tools and accountability to get amazing at all 3.

And if you are worried about cost, there is a program for all budgets and remember, coaching is cheap compared to what not having a coach will cost you.

So what are you waiting for? Talk to a good business coach now!