Return on Capital- Why You Need Business Coach

Return on Capital- Why You Need Business Coach

Linda Business, Business coaching, Efficiency Leave a Comment

Reading the title of this blog, and knowing what I do for a living, I am sure you are thinking that this blog will be riddled with bias. Whatever you may think, I can assure you that there is no bias (not intentionally, anyway…) but rather an opinion based on personal experience, and mounting facts!

Employing the services of a Business Coach may seem like something you can’t currently afford, which it’s understandable because a good coach doesn’t come cheap, but this view is holding you back. As a Business Coach myself, I like to think that I know all there is surrounding the topic- and yet I still have my own coach! The benefits of a Business Coach should not be understated, and your view of it as an expense needs to be transformed into viewing it as an investment in your business that will bring a huge return on capital employed (ROCE)-should you get the right coach, of course!

There are so many reasons as to why employing a Business Coach will propel your business to success, and with Brexit right round the corner they can also help you get all your ducks in a row before the big day in March comes. But my top three favourite reasons for why I would recommend a Business Coach are as follows:

 

Ability to View Your Business Objectively:

All of us think that we are onto something great when we set up our businesses; we’re good at what we do, and we do it very differently to our competitors! Unfortunately, this isn’t true is all cases. Sometimes our inability to afford intensive market research means that we are unable to identify competitors in our markets that are offering the exact same product we are. Or in some cases we may think that we offer much better value to the consumer than competing firms, again this may not be true.

A Business Coach is less invested in your business, they (on most nights) won’t go to bed with your business being the last thing they think about before they fall asleep. There role is to provide you with the hard hitting facts. When you come to a Business Coach, it is their duty to undertake market analysis- to outline your weaknesses, your threats but also your strengths and your opportunities.

Armed with this information, they can assist you in positioning your brand at the right price and place in your market or they may even be able to identify a niche in an already very saturated market. You will also find that this will help you get a greater ROCE in your marketing department, as you will now be targeting consumers much more likely to purchase from you!

 

Formulate a Business Plan and Strategy that Works for You:

Juggling all things that are involved with adult life means that the things that we think should be simple and straightforward, are often the first things to go on the back-burner when our diaries start to fill up.

Formulating a plan that works for you and reflects your end goals sounds like something you should be able to do with your eyes closed- the reality is often far from this. Planning can be time heavy, laborious work when you’re new to it but for a Business Coach they really can do it with their eyes closed!

They have made their living out of their ability to predict disruptions to business flow, and can advise you on how best to avoid them. This will not only save you time and money, but it can save your business reputation. In turn, you can spend more time working on your business by taking action with the things that make you money. In short, it is a way is form of outsourcing- you do what you do best, and they do the rest!

 

Accountability

My final point is the reason that I chose to get a Business Coach of my own. Formulating a plan, and viewing your business objectively help pathe the path for success but it is the action that you take that gets you to where you want to be.  

When you meet with your Business Coach, if you have failed to take any of their advice then you will have wasted both yours and your coaches time. A Business Coach is there to provide you with a guiding hand to success, and you would be silly to pass it up.

Your Business Coach isn’t just (or shouldn’t be) in it for the money, they care about you and your progress. They want to see results just as much as you do, which helps apply the pressure we sometimes need to get the tasks that we have been avoiding doing done! They will ask you about the steps that you’ve taken since your last meeting, and by this point you will hopefully have developed a relationship with your coach that means you don’t want to disappoint them- believe me, it’s a lot worse than disappointing yourself!

 

If you’re yet to make the investment and think I could be the right coach for you, then please book your Complimentary Call with me today. If we don’t feel right for each other, I know a ton of other amazing Business Coaches that will all be happy to help.  

For more free, expert advice regarding all things business head over to my Facebook Group now. I would love to hear from you and all about your business!

 

Hugs,

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