Business coaching for small business in 2023

Business coaching for small business in 2023

10 Jan 2023


By Kieran Perry - Business Coach

 

Setting up a small business or start up and building it into a successful, fully-fledged company is not an easy task. With a good team around you, you may have a lot of expertise in-house, but there are often still a lot of things on the business side that you are not familiar with. A business coach is, therefore, an indispensable factor for the success of a startup.

 

The importance of a startup business coach

More than 700,000 new businesses were registered in the UK last year alone. According to the statistics, the failure rate is about 90%. Good business ideas are introduced to the market every day in the hopes of growing startups into multinationals. There are also plenty of financing options, so a lack of money rarely gets in the way of growth. The biggest problem is the lack of experience and expertise in running a business. Even if you have years of technical experience in your field, the business side requires a different set of skills and knowledge. That is why it is advisable to invest in mentoring and sales training from a business coach.

As an aspiring entrepreneur, below are three reasons why you should seek the support of a business advisor and startup mentor:

Gain fresh insights

A business coach offers new insights that you would not have come up with on your own. Not only does a business advisor know more thanks to their experience, but they also look at the same problem in a different way. They can help you make your startup better and more future-proof.

Avoid stress

Running a business can be quite stressful. Especially if you don't have much experience. A startup mentor and business advisor can support you in difficult times and reassure you that you are on the right path. Stress is a factor not to be underestimated when dealing with the challenges of starting a company.

Grow your network

A good business coach not only helps you set up and run your business; they also give you access to their professional network. Within that network, you will have opportunities to develop valuable friendships with like-minded people who may end up being your first customers or even key investors in your startup.

 

Finding the best business advisor for you

Just like your partners or employees, your business coach must be right for your company. It is sometimes not easy to find the right one, so make sure to ask yourself the following questions during your search:

  • What do you hope to achieve through startup coaching and mentoring?
  • Are you motivated to learn to continue in your development?
  • What are your short-term career goals? Where do you see yourself in 2-5 years?
  • What are the most important experiences/skills a business coach can provide that would benefit you the most?

From here you can go deeper. It is important that you feel comfortable with your business coach. This creates a safe environment that will allow you to open up and accept new ideas, approaches, and strategies. Your mentor and business advisor should also be someone you can admire and respect. You have to enjoy the conversations and the time you spend together.

Speak to an experienced business coach today

If you are an aspiring entrepreneur or are struggling to set up a startup on your own, get in touch with industry-leading startup coach Kieran Perry today to get expert help developing a successful business.