Over the past several years, the concept of business coaches has become a part of the fabric of small to medium size businesses across the nation. So, what does a business coach do? Is a business coach right for your business?
Business Coach, in many circles, is the name that has replaced “consultant” and seems to be a term that more accurately meets the needs of today’s small and medium size business owners. While the concepts are similar, the business coach is usually brought in to help identify different and new perspectives in the way the businessperson markets and grows their customer base.
Outside of the financial fallout that occurred in the wake of 9/11, there has not been another set of circumstances in the past few decades that has required businessowners to become more creative than the situation we are facing today in dealing with impact of COVID-19. While there is an urgency to deal with the sudden and devastating economic impact of lost revenues that have occurred overnight due to government-mandated closures, preparing for the future is also critical. How do you prepare for the unknown future? How do you prepare your business to withstand and survive another unforeseen emergency? Do you have a contingency plan in place? What about a “rainy day” fund? How long will your financial reserves sustain your company? What about your employees and the impact your decisions will have on them and their families?
The first step is to do a little research on business coaching enterprises and consultants in your area. Check out their track records. Are they well-known and do they have a spotless reputation? Conduct interviews just as you would in hiring a new employee.