Thinking Like a Business Owner or an Employee
I meet too may business owners who still have an employee mentality. For some its because they were employees before starting their own businesses and can’t change the habit and for others they fall into it and then can’t get out of it.
Its time to remind yourself of why you started your business.
The dream…
- More freedom
- Could do it better than your old boss
- Financial security
- Choice
- Autonomy
- Work life balance
- Because you didn’t just want a job!
However the reality is often…
- Lowest paid in the business
- Guilty when not there
- Longest hours in the business
- No freedom
- Doing work that doesn’t add value or you don’t enjoy
Too many business owners undervalue their worth and do what they have employees for. So try this exercise below.
Write out all the things you do but put them in boxes of skill level high to low and value to the business high to low.
I increasingly find there are business owners who can earn the business £1000’s an hour when they are out meeting customers or strategically working on the business but can’t spend the time because they are doing administrative tasks that they could outsource for £10 an hour or give to the team. How crazy is that!?
Sometimes we need to stop and look where we add value and what we need to do more of and what we need to stop altogether to ensure we are in that space. Stop feeling guilty about leaving your team to it while you grow the business, after all that’s why you built a team around you, right?
Its time to fall back in love with your business and start thinking like a business owner focused on adding value and not being drawn into the business for the sake of saving a wage.
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.