Why Do You Need a Business Coach/Consultant?
Generally speaking, business owners and entrepreneurs are intellectually curious, risk-takers and always thirsty for more experiences. These qualities, among others, are what drive them to start a business in the first place. More importantly, you’re likely to be a do-it-all, taking on the responsibilities of a strategist, marketer, salesperson and analyst all in one.
When you have a growth mindset that doesn’t let you feel content without continuing to strive for bigger and better things, it might make little sense to hire a consultant for your business. Why would you need a business consultant when you can just learn to do the things you don’t yet know how to do?
There are several reasons why even the most dynamic business owner might need a coach or consultant. Read on to see if any of these apply to you.
#1. Your practice is stagnating and you have no idea why.
Having a stagnating business is better than having one that’s completely failing. But the difference is that usually, when a business is in crisis, you have some idea why. When a business is standing still however, it’s sometimes difficult to know why that’s the case.
As the business owner, you’re in your business, which often makes it hard to look at it objectively. A consultant can give you the perspective that you’ve been lacking to identify the reasons why your practice isn’t growing. A great consultant will also teach you how to look out for the signs next time, and teach you the right tools and resources to do regular health checks for your business as well.
#2. You think you know everything about your business and team.
In our experience, thinking you know everything about your practice is one of the biggest reasons why private practice owners miss growth opportunities. Business owners who think this way actively look to confirm their belief by only tackling things they’ve done before or that are low risk. This mindset and attitude don’t propel your practice into productivity and success.
In order to stimulate business growth and the productivity of your team, sometimes it’s required to step outside of your comfort zone to take on new and different challenges. Business coaches and consultants can help you do this by providing advice based on experience so that you don’t feel too out of depth.
If you belong in this category, it’s also important to note that it’s not all done once you hire a consultant. Your change of mindset needs to stick for the duration of the contract and after. Some of the most challenging clients are ones that continue to say,
“I’ve thought about that before. It won’t work for my business.”
“Trust me, my team won’t like that.”
In order to best collaborate with your consultant, it’s important to have an open mind and carefully consider all opportunities that arise.
#3. You feel content and think your practice is going great.
This is a dangerous way of thinking. The moment you start to settle into a current way of doing, you start to lose objectivity and become complacent.
Being content and satisfied with your business is great, don’t get me wrong. But as you get more comfortable, you can lose sight of your goals and future. In this rapidly evolving world of technology, nothing stays the same for long. As a business owner dedicated to growing your practice, you need to be constantly on the lookout for new developments and ways of doing things.
When you can’t break out of this comfort stage, you might need a business consultant who can give you a fresh perspective on how you can stimulate the growth of your practice again. Not only that, a good consultant will also coach you to motivate yourself for further improvement when things are going along without a hiccup.
#4. You think hiring a consultant means you’re weak in some area.
Like the previous point, this mindset that stops you from even considering a consultant is precisely the reason you need a business consultant. When you avoid reaching out for help for fear that it reflects badly on you, you actively avoid growth opportunities for yourself and your practice.
You don’t have to go to the doctor only when you’re sick. You can go for a checkup while you’re feeling healthy. That’s when you can get objective advice on areas you weren’t even seeking advice on. Similarly, you don’t have to be “crazy” or mentally ill to go to a psychologist. People that seek psychologists while feeling well find ways to improve themselves even further.
In the same fashion, you don’t just need a business consultant when your business is not performing well. Consultants can further improve a business that’s already going well. Additionally, great consultants can turn around your mindset to help you better diagnose when you need a consultant in the future.
#5. Your team doesn’t listen to you.
All the fancy business plans in the world mean nothing if you can’t get your team to work with you towards your business goals. When your team doesn’t follow your lead, there may be several reasons for this, including:
- Lack of leadership skills on your part
- A negative company culture
- Bad recruitment choices
- Unclear communication on projects
- Conflict between staff.
When the team you’re so invested in doesn’t engage with you or each other, it can be frustrating trying to figure out why.
This is when you need a business consultant. Consultants can engage your team from an outside (and confidential) perspective through a variety of methods like observations, questionnaires, group discussions and one-on-one interviews.
Kong & Way allied health consultants provide leadership skills training to the business owner, recommend communication policies and standards, and review the implementation stage to ensure all team members are on board.
#6. You’re about to go through major changes in your business.
Companies going through major changes generally need a business consultant to make sure the changes are implemented well and the general day-to-day duties go on without a hitch. Major changes for a business can include the following:
- New (big) products or services
- Major upcoming events
- Changes in business ownership
- Organisational restructure
- New policies and procedures.
Business consultants can help you through this process to minimise the impact of major changes on your business and team. This can help you to focus on your general duties as well as keep an eye on the mood of the business. Importantly, hiring a consultant during big changes will also minimise impact on revenue.
#7. You can afford one.
As mentioned earlier, one of the best times to hire a consultant is when things are going along nicely. And being able to comfortably afford a great consultant is one of the most obvious signs of a business that’s going well. This is your chance to seek out growth consulting to take your business to the next stage.
#8. Ironically, you can’t afford one.
When your business is in such a state that you can’t invest in its growth and development, something’s not quite right. You might be scraping by one month at a time, or having to cut costs to make ends meet. This is when you need a business consultant to help get you out of the funk.
Business consultants can provide insight into the areas you’re losing money and productivity, and identify the areas where you are chasing your own tail, and help break the cycle.
#9. You’ve never hired a consultant before.
How would you know what you’re missing if you’ve never tried it?
It’s like the first time doing anything. Sometimes we get caught up in our own ideas of something that we dismiss it before we even give it a chance. For consulting services, it’s generally misconceptions around the cost, level of involvement from the consultant, and sometimes even the fear that consultants will take the credit if your business succeeds.
All consultants and firms will have different fees, policies and methods. And despite what some people might believe, a lot of consultants are happy to talk you through your questions for free. (If you have any questions about coaching & consulting services by Kong & Way, you can book a free 30-minute consultation via the contact form here.)
On the other hand, if you have worked with a business consultant before, that’s a good reason to try it again. If you had a great experience with your previous consultant, I recommend going with the same person. Building rapport and learning about your business takes some time, so if you can pick up where you left it off last time, that’s a win-win situation for both.
If you didn’t quite get what you were after last time, that would have given you great insight into the kind of consultant and service you’re looking for. Knowing what you want (and don’t want) is a major advantage as you look for the consultant that meets your needs.
#10. You’re time-poor.
Not even the most talented business owner can escape the fact that there are only 24 hours in a day. Even when you think your days are perfectly organised to tackle whatever comes your way, there are responsibilities you can’t avoid and crises you can’t foresee.
When you find yourself missing out on opportunities because of time limitations, you need a business consultant. Consultants can help you to:
- Prioritise your tasks
- Delegate to your team
- Manage your workload and your team’s
- Identify if you need to hire new employees
- Identify if you need to hire new suppliers.
Time management is a huge component of running a business, and is sometimes what separates great business owners from mediocre ones. It’s always worthwhile to reach out for advice on better managing your time which in turn will improve your productivity.
#11. Your business is falling apart.
Perhaps the most obvious reason you need a business consultant is when your business falling apart right in front of you. Although it might seem hopeless, there are always different solutions you can try that you may not have considered.
Talented consultants will take you through all options you could try to salvage your business. But God forbid there are no roads out, responsible consultants will guide you through the best exit strategy to come out of it with minimal impact.
These are just 11 reasons why you might need a business consultant. But the truth is, it is almost always a good idea to hire a consultant as long as you have a business. Whatever stage your practice is in, it never hurts to have an outside perspective.
If you’re looking for ways to take your practice to the next level or trying to save your practice, contact the Kong and Way consultants today for your free consultation. We’ll be delighted to walk you through the solutions we can offer for you business, or just to hear about your business journey!
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