The simple answer to the often complicated question of “Are small businesses prepared for a challenge?” Maybe. Although, the real question, and one that is frequently ignored should be – Who needs a business coach? You see, many of the challenges that small and medium size businesses often face can usually be avoided with the help of an executive coach. Small business owners and even leaders of some larger organizations can benefit from the experience of executive group coaching.
Small businesses do not have the comfort of turning to advisers or board of directors when problems or challenges arise. Many CEO’s with larger organizations do not have a choice when it comes to their advisers. Fortunately, small business owners still have that leverage of choosing where to get advice and help in certain matters.
Of course, one of the biggest mistakes made by up and coming business leaders is simply not reaching out for help. Business owners often have the mentality of thinking they can handle everything on their own. Unfortunately, not getting the help they need is one of the statistics that leads to business failure. Often the excuse from business owners is not having the budget or the time to work with an executive coach and his team. Once again, that brings up an interesting question. As a business owner, what is your company going to pay in the event of failure? How much is your time worth now?
Sometimes the reality of the situation is hard to face, but understand this, an executive coach and his team offer something that most business owners and leaders exist without; a sounding board. Yes, that may sound like simple advice, but think of what that sounding board offers. Well-trained, skilled and experienced individuals who can field the tough questions and provide solid feedback and solutions. On top of that, think of an executive coach and his group as a small business owners independent board of directors. What great resources these can be for many small business owners, especially during those moments when a business struggles because of certain challenges.