Why Small Businesses Need Coaching
Another approach to consider is group coaching. It means giving up the one-on-one focus of an individual coach, but also builds peer relationships with business owners facing similar challenges. The best-known such program is Strategic Coach, which runs workshops exclusively for entrepreneurs.
"Most entrepreneurs are natural innovators or salespeople, not managers," says Catherine Nomura, Strategic Coach's director of business development. "They come to us because dealing with the day-to-day complexities of their business has made it difficult to move ahead. They don't have time to do what they love to do."
Business owners sign up for a year of coaching, which includes quarterly, daylong workshops and access to an adviser for follow-up help in between. Participants are grouped according to the size of their company (at a minimum, you must have been in business for at least three years and have a net personal income of $100,000). The coaches running the workshops are business owners who have been through the program themselves.
"It's a peer group of people who understand what you're going through," Nomura says. To build accountability, business owners leave each workshop with specific goals and steps to take before the next quarterly meeting.Once you've decided on the type of coaching that best fits your needs and personality, finding a coach takes the same research and persistence as finding any other trustworthy professional partner. The International Coach Federation website has a referral service for certified coaches; you can also find coaches with business experience through local MBA programs or professional organizations. Once you've found a coach who's a good fit, the rest is up to you. "If you're going to hire a coach, you want to use the time wisely," Modell says. "Be prepared to open up." A great coach can motivate players to win, but only if they're willing to put in the work it takes to get there. >To submit a news tip, email: email@example.com.
Twitter and become a fan on Facebook.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV