Struggling Entrepreneurs/Small Business Owners! Do You Have a Business Coach?

When you hear the words business coach, what comes up in your mind? When I started my business, I would read books like “Rich dad Poor dad” by Robert Kiyosaki, “Think and grow rich” by Napoleon Hill and E-Myth by Michael Gerber. After reading these books, I realized the importance of having a Business Coach.

However, I would put off hiring a business coach as the following questions/thoughts came up.

My business is too small and Business Coach is not for me.

It would cost me a lot to hire a business coach. Once I have one, I will become dependent and this may become a recurring expenditure.

Will I get support for my specific business model?

What is the assurance that the business coach has achieved the level of success that he/she claims to be?

Have you ever felt this way? If you answered “Yes”, you are not alone.

Even if you started your business very recently I would highly recommend hiring a Business Coach. However, you do not have to hire someone spending thousands of dollars at the time of establishing your business. During the first year, you could focus on what you do the best and start making money. Simultaneously, you could use the following resources for running your business:

Free networking events,

Your industry forums/newsgroups

Subscribe to free Small business newsletters/ezines/teleseminars/articles.

If you are lucky you may make a profit in the first year. If not wait until you get into profit mode. Once you have made a profit, make a commitment to allocate 10-30 percent of your profits for hiring a business coach in the next year. Now that you have made a commitment and have the finance, you can choose your business coach. How will you do that? By now, you must have read quite a lot of ezines/newsletters, participated in your industry forums and got familiar with business coaches that may be able to help you achieve your goals. It is time for you to make your decision to hire. To make a decision, you might want to consider the following points:

Do you want to hire a one on one coach or would it be OK to get coaching in a group environment?

Would you like to be coached personally or over the phone or online?

Are you willing to be committed for a certain period and be coachable?

Do you want the coaching materials as workbook or audio recording or online PDF?

Are you willing to participate in the training calls/coaching calls?

After you have answered the above questions, you can make a decision and enroll for Business Coaching program. There are coaching programs such as 4-week teleclass ranging from $197-$1997, monthly mastermind programs ranging from $147 to $997 long-term membership programs ranging from $39 to $497 per month. These are average rates.

Action Exercises:

Here are two things you can consider doing:

Subscribe to free ezines/newsletters that is relevant to the growth of your business.

Make a commitment to yourself and write down in your journal that you will allocate 10-30 percent of your profits towards investment in business coaching.

Lalitha Brahma helps Consultants and Small business owners improve their bottom line by inspiring and moving them to action. Is your Regular paycheck stopping you from exploring the ENTREPRENEUR in you? If you answered “Yes”, go ahead and sign up for my FREE Newsletter to learn the secret of breaking the Regular paycheck barrier at http://www.elbeeservicesllc.com

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