Leading and running a business is a roller coaster. One day your day is productive and things are looking bright. The next, you feel like everything has been derailed and you are on the edge of a cliff.
Plenty of business owners and C-Level executives go through these common feelings and many reach certain milestones during their business life when they say, “I’m not sure what to do next.”
Meeting with a results coach will provide you with objective insights into how to run your business better, increase sales and improve your skills as a CEO.
Here are 5 signs to indicate it might be time to hire a business coach.
1. You see no clear path forward
This can apply to many aspects of your business. Do any of these cases sound like you?
You are lost in terms of understanding your role as a C-Level leader…
You don’t know what your day-to-day tasks should be.
The business’s direction changes multiple times over the course of several weeks.
You don’t have a clear set of priorities or plans written down.
C-Level leaders, particularly of companies they’ve personally started, are typically jacks-of-all-trades and have had their hands in all parts of the business at one time or another. They often have a hectic and urgent air about them, which when they take a step back to lead the company can be a hard habit to break. Start-up C-Level leaders will often find their time occupied with performing tasks that could easily be delegated to a lower-level team member.
We can help you establish your role and responsibilities as a C-Level leader. Writing out your responsibilities in conjunction with your business’ strategic goals can help you directly connect your activities with the outcome you’d like based on the goals. We will help you let go of the impulse to do everything in the company.
2. You’re overwhelmed
A clear sign that you’re overwhelmed is when you are constantly wondering when the last time you had a vacation or spent quality time with family or friends was. If you’re feeling this way, you need to ask yourself the hard question of whether the tasks you do on a day-to-day basis are moving you towards your goal. More often than not, business owners find they’re spending too much time on activities that aren’t productive, even though they might seem productive at the moment.
Being overwhelmed can also lead to feelings that you cannot turn to anyone else in your organization for answers. You might also start only using your ideas even if you know in the back of your mind that someone else might have a better idea.
We will objectively look at your daily tasks and how you do them. From there, they can list which tasks should be delegated and how you can effectively perform the tasks that need to stay under your purview.
3. You need more personal accountability
Perhaps you’ve written down your goals for yourself and your business, but you just can’t seem to meet them. Before you think “these goals are too hard,” you should ask yourself if you’re really pushing yourself to do everything you can to meet those goals.
It’s all too easy to break a promise to yourself.
Instead of calling upon a spouse or friend to keep you accountable to your business goals (and to risk damaging those relationships), you can enlist the help of Xcel Advisory Group to whom you will be accountable. We will not only be your accountability coach but will also be able to look at your tasks objectively and tell you where you’re losing time and effectiveness.
4. You want to develop new skills
Whether you have been commended for your natural leadership skills or know you lack confidence when it comes to your ability to lead a company, everyone can find ways to improve themselves. Having strong leadership skills at the helm of the company will only improve your company’s culture and success.
Leadership doesn’t have to be the only skill you want to develop as a business leader. To keep your business ahead of the curve, you may need to develop skills in negotiating, finance or a team morale.
When you’re looking for a business coach to help develop your new skills, doing your research will be important in finding the right match. If you’re working on soft skills, like leadership or negotiation, you will want to find a coach you’re comfortable opening up to and having a safe space with. When searching for a coach for a hard skill, like a new technology, you should ask for testimonials from the coach’s past clients to see how their skills improved with the help of that coach.
5. You’re in a rut
Have you been feeling indecisive about growing your business? Even with having an ambitious entrepreneurial spirit, disrupting your operations can be a daunting decision that is difficult to make. Instead of falling into a rut, employing a business coach can give you guidance on brainstorming and implementing a strategic plan to successfully grow your business.
There is saying that essentially states that nobody is smarter than everybody. With the help of an experienced business coach, you will gain new perspective and confidence in planning and executing strategies.
While there is no definitive answer for when to hire a business coach, a good benchmark for knowing its time is when you say, “I don’t know what to do next.” Just remember, every business owner is different, and everyone’s progression in owning a business is different.
Research by the International Coach Federation has shown that, of small business owners that have hired a business coach, 70% have seen increased work performance, 86% have seen a return on investment and an impressive 99% of entrepreneurs were happy that they made the decision to hire a business coach.