Do I Need a Business Coach

  • Sumo

Are little things killing your business?  You get everything right…and then nothing.  No customers flocking to your door.  No phone ringing off the hook.  Nothing.  Nada.

Often times, it’s the little things that ultimately lead to failure.  You may lose the sell.  You may lose a client.  You may lose money.  You may lose a significant other. In all cases, it is very likely that little things lead to your loss.

You lose the sell because you didn’t return their call the same day.

You lose the client because you didn’t reassure them you were the best choice.

You lose money because you spend more than you make.

You lose your significant other because you neglected them a little each day.

The winning horse usually only wins by a fraction of a second…just a little.

The winning golfer usually only wins by a single stroke…just a little.

The Nascar racer usually only wins by a few tenths of a second…just a little.

It’s clear that a little goes a long way in the entrepreneurial world.

Recently, I attended Dan Kennedy’s Super Conference in Dallas.  I waited  an extra day (just a little) to book my hotel. That little delay cost me a room at the hotel where the conference was being held.  I ended up having to stay at another hotel down the street.  I wasn’t too upset though, because this other hotel, The Adolphus, was far nicer than the hotel where the event was being held.

I booked my stay through American Express’ Fine Hotels & Resorts program.  I was confident that if AMEX recommended it then my stay would be fabulous.

When I arrived at the hotel, I indeed felt as if I were one of their famous guests (They’ve had Queen Elizabeth II, The Vanderbilts, U2, Oscar de la Renta, Donald Trump, and Babe Ruth stay at the hotel, just to name a few).  When you first walk in, you can feel the history and significance of the place. The decor and atmosphere had a classic vibrance that enchanted me. I knew I was in for a great stay.

At the check-in desk, the lady handed me my room key and an envelope with my name written in calligraphy on the front. “I hope you enjoy your stay,” she told me with a warm smile.  This envelop had me curious.  I didn’t know what in the world could be inside it, but I couldn’t open it because I had my luggage in one hand and my coffee in the other.

As soon as I got to my room, I sat down my luggage and quickly opened the mysterious letter, and here’s what I discovered:

Notice any little mistake?   Someone printed the nice letter upside down on the the hotel’s letterhead.  What was meant to be a nice personal touch ended up creating a negative perception.

So what about your business?  Are there any little subtle negative cues that you are sending  to your prospects and clients?  None that you can think of, right?  Yep, I’m the same way.  You see, we are too close to our business, so it’s very difficult to notice mistakes.

For me, this blog post is a great example.  Once I finish writing, I’ll go back through and re-read it to make sure everything makes sense and I didn’t make any grammar or punctuation errors.  Sometimes, I’ll even read a post aloud to try and catch mistakes. Still, even when reading them aloud, I tend to overlook mistakes.  Our minds are great at reading, hearing, understanding, and interpreting what it is we meant to say instead of what is actually on the screen.  That is why having an editor is important.  Before I ever publish a post, it goes to an editor to review and correct any mistakes.

So, my question for you is…who is looking out for and helping you correct those small business mistakes that you may be making?  Do you have someone to provide an outside eye and a different perspective?  This is a critical mistake that many most entrepreneurs make.  You have to be willing to be honest with yourself.  You have to be willing to get others to look at your business.  Yes, you have to let them see the good, the bad, and the ugly.

Think about all the large successful companies out there.  What do they have in common?  Correct, a Board of Directors.  The purpose of this board is to bring them an outside prospective and accountability.

I know. I know.  You’re thinking, “yeah, but it’s just little ol’ me, and I honestly don’t want anyone else to know how much I’m really struggling right now. ” I know. I once sat in the same place as you.  I didn’t want anyone to know that I wasn’t super successful, or that I didn’t know if I would be able to pay my bills next month.

Let me be completely blunt…

If you are going to succeed, you first have to get over yourself.

Don’t get me wrong, I’m all about you controlling the way your company is perceived in the market.  I’m not advocating running out and telling the world that your business is struggling to survive.  That would be disastrous, but it would be equally disastrous for you to neglect or ignore your deficiencies. I want you to be completely honest with yourself and begin turning to others for accountability and a different perspective .

If you’re ready to catapult your business to the next level, then you need a Larry.  What’s a Larry?  Well I’m so glad you asked.  You see, Larry is my business coach.  We’ve been working together for about two years.  Larry is my outside set of eyes.  Larry keeps me accountable.  Larry tells me like it is, and often has very difficult conversations with me.  Many times I get off the phone, and I’m not very happy with Larry.

A few years ago I found myself asking – “Do I need a business coach?”  And the answer was yes.  Because without Larry, I wouldn’t be where I am today.

Hang on…I hear the excuses starting to flow through your head….

“But Wayne, you don’t understand. I really don’t have the money to hire a coach.”

I didn’t either!  I hired Larry when I really couldn’t afford to hire him.  I really could have taken that money and used it for many other things that we really “needed”.

When I first hired Larry, I was having the common problem of too much month and too little money.  We had two small children with a third on the way.  My wife wasn’t working outside the home, so it was just me “bringing home the bacon”.  We certainly could have used the money to help pay our bills, or to purchase a nicer vehicle, or take a nice trip each month…

BUT we wouldn’t be where we are today if we had.

So, be honest with me. Who are you going to ask to be your outside set of eyes?  It doesn’t have to be someone you pay, although I would argue it should be someone you pay.  Regardless, you need to find someone to be those outside set of eyes.

So if you’re asking…

Do I Need a Business Coach

My answer would be an emphatic yes!

If you are still reading, you’re probably wondering about The Adolphus and the Super Conference.  Well, my stay at The Adolphus was excellent, and despite their little mistake, I would stay there again when visiting Dallas.  The Super Conference was amazing as well.  Over the next few weeks I’ll share some of what I learned, and what I am specifically applying in my businesses.

Here are a couple of photos:

Here's a photo with Dan Kennedy

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Photo with Rabbi Daniel Lapin

 

 

 

 

 

 

 

 

 

 

 

 
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6 thoughts on “Do I Need a Business Coach”

  1. Good post.

    On average, a good coach’s ROI is in the 700% area. Looks like Larry’s served you well.

    Though, the real truth is, you as the client have done the work. My clients say I’m a great coach. I think I work with brilliant clients.

  2. Great post. Too many people try to focus their efforts working in their business when they must devote at least some of the time to working on their business. Even professional athletes have coaches, why shouldn’t we have them? No one is great at everything and it is always good to see someone encouraging the idea of hiring a coach to improve your business. Thanks Wayne

    1. You’re right Alan, it’s so easy to get stuck working and focusing in a business. Larry has definitely helped me focus on working on my business instead of in my business.

  3. Hi Wayne,

    I’m a business coach who is coaching a business owner who’s in your earlier situation. He’s told me that he can’t really afford me as a coach and at the same time he says he can’t afford to be without me. And we’ve been together for 18 months and he’s getting busier and more profit with each month.

    Jim

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