Quality Business Coaching in Bristol, Bath and the South West
For many ambitious business leaders, growth is high on their list of priorities. And so it should be. After all, who starts a business with the vision of seeing it go under? Everyone knows that if they can build a long-term sustainable new business pipeline, it will increase the capital value of the business. It will also build in long-term security and most likely increase the engagement of the team and clients.
Growth, like good health and safety, is no accident. It is no fluke. Rather it is the outworking of a complex, interlocking process of resource allocation, systems development and product enhancement all underpinned by sound marketing and competent sales.
Getting all these various components to fly in formation towards achieving the business vision and goals is very satisfying, if all goes well. But when it doesn’t go well, it can lead to a dip in confidence, a sense of frustration and at worst the team engaging in various short-term tactics to redress the problem.
What they concluded from the research is that the reasons why growth hungry SMEs do not employ formal business support are:
1. They have doubts about whether the support will achieve a satisfactory return on their investment or ROI. As business coaching consultants in Bristol and Bath, we can understand this doubt. On what basis can we confidently assert that, because of our input, support and advice, the client’s business will grow? The answer is simple in one regard – we cannot guarantee growth, and complex in that we can guarantee growth, if certain conditions set out in the engagement are met. By conducting a thorough diagnosis of the business, the mindset of the owners, the team, clients and the situational environment, it is possible to reduce the potential for failure and simultaneously increase the resiliency of the business.
2. Trust and confidence in the source of advice. Having what we term flat packed solutions shoehorned in to your own unique business issue is sadly typical of most consultants. They argue, “Why waste time doing a diagnostic, when it is easier to search through the tool kit and employ a ready made solution, one that we know works and we are confident in using”. We at the Business CoPilot know better. We know that trust is gained during that essential diagnostic phase and with that trust comes the freedom to dig deeper and delve into more areas. Hopefully to point out the elephant in the room and offer possible solutions as to how best to remove it.
3. Fear of making a wrong choice or not being able to work effectively with the external advisor. Employing people is risky, we all know that, but it doesn’t always have to be that way. Employing a consultant on the other hand is easy. You can engage them on a very small and perhaps low risk, insignificant project to test their relational skills, aptitude and ability to work within the culture of the business. And as we are on fixed terms and conditions it allows the client to dispense with us at their request. No questions asked, no explanation needed. Just a simple email and that cuts short the engagement.
Our goal in writing this was to dispel the myth that hiring quality advice is risky. We think that this business maxim says it all “If you think hiring a professional is expensive, wait till you hire an amateur”.
Call us on 0117 230 3166 for more information, or click here to read more about how we can help