I just had a recent client who started coaching with me. He was eager to grow his business, and I was able to get him to focus like a laser beam on revenue and client growth. Month after month he applied all of our marketing and business development tools, and generated significant growth and profit. He was swimming in cash and loving every second of it.
Then one day he called in a panic. “Kevin, I’m starting to lose clients, I don’t know what’s going on.” Quickly I had him survey his customers, only to discover that many of them were dissatisfied with his services, and bailing out of their agreements. There were major quality issues that he had never discovered, and his team was so focused on keeping up with the new business that they were ignoring any sort of product quality. What he had built with a flourish came crashing down in a heap of cancelations.
As you grow your business, it is easy for you as a business owner to get seduced by the lure of easy money as you bring new customers into your business. However, real success and long-term profits are all about ensuring that your customers are not just satisfied, but delighted with your product or service, and continue doing business with you for a life time. Take a look at where your focus is in your business. If you spend all of your time marketing and selling, and no time ensuring excellent delivery of your services, it’s time to dial back and zero in on creating raving fans out of your current customers. By doing this, you will ensure a base of steady revenue that will allow you to reinvest back into sales and marketing in order to then grow your business in a safe and secure fashion.
Remember, real success is not about explosive growth, but rather steady growth that happens for a lifetime.
Reason #1: Different styles and methods of business coaching don't work for everyone
It's important to be honest with yourself and conduct a realistic assessment when it comes to business coaching. Though business coaching can have many benefits, it might not work for everyone.
Every individual brings their own experiences and values to the coaching dynamic, so results will vary. Additionally, some individuals might need more than just a coach. They might also need specialised knowledge or communication strategies specific to their industry or target audience. Below are a few key factors to consider:
Reason #2: There is no clear focus or vision (talk about time dedication here too)
cIt's important to be honest with yourself and conduct a realistic assessment when it comes to business coaching. Though business coaching can have many benefits, it might not work for everyone.
Business coaching is an effective tool for developing a clearer focus and vision for growing your business. A good coach will help you to take a comprehensive look at your strengths, weaknesses, and available resources that can be used to reach those goals. They will also help you draw up action plans with step-by-step instructions to get there.
By providing honest feedback and being patient throughout the process, a business coach can make sure that you’re on the right track. This will enable you to set realistic milestones and tasks.
These tasks may need dedicated time outside of coaching sessions. For example, a coach might help a client develop a marketing strategy or implement new systems for managing employees. However, if the client does not have enough time to devote to these tasks outside of coaching sessions, progress will likely stall.
Both the coach and the client must have enough time available to reflect on past experiences, brainstorm new solutions, and test out different strategies. If either party is rushed or distracted during coaching sessions due to other commitments or obligations, they may struggle to fully engage in this process.
Effective business coaching also requires a commitment to regular meetings and ongoing communication. If either the coach or the client does not have enough time to dedicate to these meetings, progress may be slow or nonexistent.
It's important to recognise that business coaching is an ongoing process that takes time to yield results. While some clients may see improvements after just a few sessions with their coach. Others may need months or even years of consistent effort before they begin seeing real changes in their businesses.