Small Business Coaching - How to Choose the Right Expert, at each Growth Stage.

As can be seen in sport, having a coach will help you perform at a higher level, and achieve much greater success from your small business.

For years, I have had coaches for specific areas I needed help in my businesses - from leadership and management, through to marketing and sales.

Last year I wrote this blog post on how much does business coaching cost, to give you an idea.

In the vast landscape of small business, navigating the path to success can be daunting.

For owners with aspirations of growth, having the right guidance is crucial.

This is where a business coach steps in, serving as a specialist in the area of your business which most needs to improve, right now.

They also hold you to account, to ensure each week you work on the things that truly add the greatest value.

Since 2004, I have been mentoring, and more recently coaching, founders - I love small business coaching!!

Short, sharp meetings packed with heaps of advice and how to avoid the plethora of mistakes I made, where I listen to the current growth challenges, then talk really fast and sometimes remind owners when they complain about a mistake (usually around people), that “well, that’s your job isn’t it…don’t be down about it, learn from it and move on.”

I enjoy not having to then run off and implement the advice, and get excited just before the next meeting, to hear what they implemented and what’s working in the changes I guide them to make in their leadership, management, team and business in general.

But with countless small business coaches out there, how do you choose the right one, and stay away from the shit ones!?

I tell people to first think about which of the 5 Growth Pillars we talk about, you and the business needs the greatest help with, now:

Work out which of these will add the greatest value to the business (right now), then find a small business coach who has the skills and experience in that Pillar, to improve that corner.

You should change your business coach on a regular basis, especially as a different Pillar or corner of the business will inevitably become the new #1 which needs the greatest attention.

I wrote about the small business growth seesaw a few weeks ago - People at one end, and Marketing the other.

People and Marketing (sales is a subset of marketing in my opinion) will be the two Pillars I think most small business owners will need to work on with a coach on a regular basis.

Not just because they add the greatest value to a business, but also because they need constant attention and refinement in those two corners (less so for Strategy, Funding and Systems).

In this comprehensive guide, we'll delve into each pillar and explore how they intertwine with the process of selecting the ideal business coach for your small business, particularly one with 5 to 30 team members.

As I say often “people are the hardest thing in small business AND its greatest asset”.

Which is why we put it as the #1 Growth Pillar, and spend the most time of all the 5 Pillars when we guide, teach and coach small business owners.

When seeking a business coach, look for someone who understands the dynamics of small teams.

A coach who prioritises building a positive company culture, fostering leadership skills, developing managers to becoming world-class, and enhancing communication can make a significant difference.

Key considerations:

The coach should have led and managed people before, and have evidence of success in these challenging roles.

A bonus if they have done this in their own small business.

A well-defined strategy is the roadmap to success.

Your business coach should be adept at crafting and implementing strategies tailored to your business' unique needs and goals.

Whether it's expanding into new markets, streamlining operations, or enhancing product offerings, a strategic approach is vital for sustainable growth.

Key considerations:

Ask them for their #1 book recommendation on strategy, and see if what they recommend is relevant for your business and stage of growth.

Effective marketing is essential for attracting customers and building brand awareness.

Your business coach should possess expertise in various marketing channels, from digital marketing and social media to traditional advertising and branding strategies.

They should help you leverage these tools to reach your target audience and drive growth.

Key considerations:

Be sure to grab a copy of our “Marketing Funding Flywheel” eBook for small business owners.

We outline the 3 marketing principles a small business owner should understand, even if they don’t own the marketing corner.

Also included are the best marketing books, podcasts and the #1 marketing course we recommend small business owners do (it’s online and opens in April and September each year).

Access to capital is often a barrier to growth for small businesses.

A business coach with experience in fundraising and financial management can provide invaluable guidance in securing funding sources, whether it's through:

Bonus if they have experience unlocking funding from within the business, from customers (eg. increasing prices, change in payment terms or new products sold to existing customers) and suppliers.

They should also assist in creating sound financial forecasts, and managing cash flow effectively.

Key considerations:

If you can’t find a good funding or financial coach, and a 10 year financial model is needed to give you the clarity and confidence to grow your business, jump on our ‘Business Transformation Program’ waitlist.

We build a model for each business in the Program, and only open to a group of 8 business owners 3 times a year (March, June and September).

Efficient systems and processes are crucial to a well-functioning and growing small business.

Your business coach should focus on optimising workflows, implementing scalable systems, and leveraging technology to streamline operations.

From CRM software to project management tools, they should help you harness the power of automation and data analytics for improved efficiency and productivity.

Key considerations:

That last point is really important - ask your potential Systems Coach how they would work with you, over what timeline and what the key outcomes to expect.

Don’t choose them if they don’t drive home the point that part of improving systems and processes, is embedding a culture of continuous improvement (a system itself).

Choosing the right business coach is a critical decision that can significantly impact the trajectory of your small business.

Look for a coach that has worked with businesses similar to yours - in size, industry and stage of growth.

By focusing on the 5 Growth Pillars – People, Strategy, Marketing, Funding, and Systems – you can better identify a coach who aligns with your current goals and aspirations.

Be sure to pick one Pillar and get the right coach, not many coaches have deep enough experience in more than one Pillar to be effective in their work with you - go for a specialist, not a Jack of All Trades.

As with any recruitment (the most important thing a manager does!), take your time and follow a well thought out recruitment process when appointing your coach - especially check references.

Start with a coach for a short period of time, then every 3 or 6 months, sit back and assess whether they are still needed, you are still getting value from the investment.

If they are no longer making you better in the corner of the business you asked their help with, finish up with them and find the next coach, probably in a different Growth Pillar.

Whether you're looking to expand your team, enter new markets, or secure funding for growth initiatives, a knowledgeable and experienced coach can provide the guidance and support you need to succeed.

Invest time and effort into finding the perfect match, and watch your small business thrive in the competitive landscape of small business.

If you want specific advice for you and your business, whether you need a coach now and which Pillar to focus on, book a 20 minute Growth Chat with me and I will point you in the right direction. I always provide some books, podcasts, courses or contacts in my network to help you with your #1 growth challenge - I love talking about small business!!

Cheers,

Troy | Founder | Grow A Small Business