Starting a business is a challenging task under the best of conditions. Constant selling and meetings with investors to get the money needed, working on your product to perfect the prototype. You may have great ideas and you see where the market needs those ideas to become a reality. But without someone to coach you on your budding business, the statistics of success are not on your side.
Enter the start-up coach.
Start-up coaches are executive coaches whose purpose is to give your nugget of a company the best chance to succeed. A start-up coach is an asset that very few entrepreneurs recognize exist, and even fewer are willing to utilize. Below I have listed five of the top reasons why having a start-up coach as one of your first hires in any venture is the best decision you could make for your business.
1. Stay focused on why
When an entrepreneur sets out on a new venture, it’s to either meet an unmet need or improve how it’s met. The struggle each entrepreneur must overcome is the desire to simply make a buck. Realizing that there is an opening in the market may put dollar signs in your eyes, but don’t let the excitement of a possible business venture overshadow the true purpose of your business.
Successful businesses focus on meeting the needs of the consumer in order to build loyalty rather than attempting to find the easiest way to make a sale. This is where start-up coaches become invaluable. They help to keep the focus on what good the product can do rather than how much money can be made.
2. Goal accountability
Having a goal is one thing, making that goal into a reality takes determination, patience, and hard work. Start-up coaches can help determine what goals you are truly looking to accomplish. They are highly skilled at helping you determine the best method of completion.
Techniques such as S.M.A.R.T. goals help develop productive means of accomplishment. Once the goals have been identified and a strategy has been put into place, the coach will be able to keep you accountable and focused.
3.Build a winning team
One of the most important lessons veteran entrepreneurs learn is that you are only as successful as the company you keep. Yes, some great business ideas may find their genesis at the nearby happy hour. However, that doesn’t mean that your drinking buddies are the best business partners.
Instead, utilize the skills of a start-up coach by working with them to identify your strengths and weaknesses. By doing so, you will be equipped to identify partners that will complement your strengths and fill in the gaps. Entrepreneurs often don’t realize that complementary skills are vital to the longevity and success of a start-up.
A start-up coach will reduce the risk of duplications of strengths and help you better identify innovative business partners.
No matter what business you are starting, you will have to make difficult decisions — frequently. At times, there may be no clear options. While at other times, there may be so many options that it is overwhelming. No matter the circumstance, a start-up coach is able to work with you to identify and execute the decisions that will be best for your business.
Through their unbiased insight, a coach will be able to teach effective techniques for making healthy decisions to keep you accountable making timely decisions.
5. Remain realistic
What makes entrepreneurs so remarkable, yet is their greatest vice, is their passion for magnificence. An idea is rarely just an idea to an entrepreneur; an idea is a way to leave a mark on the world. As an entrepreneur, you may be very familiar with this mindset. While this characteristic is one that defines your entrepreneurial spirit, it can get you into trouble if not properly managed.
Having a start-up coach available will help keep your vision realistic so that you don’t move too quickly, spend too liberally, or become too impatient while the world buys into your vision of the future. Start-up coaches are able to provide that accountability while maintaining encouragement and reframing your expectations to meet reality.
Whatever you’re trying to sell, whatever business you’re trying to start, be sure to find a start-up coach. Having a source of encouragement, objective reasoning, and realistic expectations to keep you in check makes start-up coaches one of the best decisions for building your professional portfolio.