Boss Lady

How a business coach can help your company scale

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Scaling your business is no easy task. Just because your company flourished as a start-up does not guarantee things will go quite as smoothly once you start ramping up the volume.

Many challenges must be overcome when scaling, and even the most seasoned entrepreneurs usually find this business phase difficult to navigate. The thing is, a business that grows too fast or becomes overambitious will develop cracks in its foundations which can cause issues within its infrastructure that may prove costly later down the line.

For starters, a rapidly scaling company significantly increases the demands on each employee. This can quickly start to wear on the morale of your workforce, especially if you dont have a competent management system in place.

Secondly, the ineffective spending of resources on marketing and customer acquisition will quickly eat away at your profit, especially as the potential for disengaged leads increases as production rises.

However, despite all of these issues, the biggest problem facing rapidly growing companies is a lack of expertise on behalf of the owner.

After all, many people who find themselves in charge of high-growth start-ups are usually inexperienced and lack the required  knowledge to deal with the complex issues that will inevitably come their way, such as securing adequate financing, adjusting pricing strategies, managing a growing team of employees, and acquiring a steady stream of new customers.

How business coaching can help

Fortunately, business owners are not left to navigate these obstacles alone, as there is a massive growing industry of business coaches ready to offer their assistance. In fact, the USA’s business coaching industry is currently valued at a staggering $11.6bn, which makes it the second-fastest-growing industry in the world over the past decade. It’s safe to say they must be doing something right! Here are some of the critical areas they assist clients with:

Expert advice from seasoned business professionals

Business owners are expected to be the jack of all trades within their company. But we all know what the problem with that is, right? Yep, even if they can do every job reasonably well, it’s hard for them to be masterful in one particular area.

The fact of the matter is, this leaves a lot of money on the table as it generally means there will be many inefficiencies throughout the company. This is one of the big benefits of hiring a coach as they can tell you where you’re going wrong and what areas you need to improve on. That way, you can make more informed decisions going forward and hopefully increase the efficiency and value production of each one of your business areas.

Actionable business plans

When scaling,  one of the most significant factors that will determine your success is whether or not you have a solid business plan. When push comes to shove, if you don’t know where you’re headed and you don’t possess a carefully thought out roadmap, how will you know the best course of action to take?

Russ Ruffino, founder, and CEO of the highly regarded business coaching program, Clients on Demand, believes this is one of the biggest mistakes a growing business can make.

“In order to be successful, you must have a destination in mind and a benchmark to hold yourself against; otherwise, you are far too susceptible to distractions. You must align your company’s core values with your own and then brainstorm an actionable business plan that you can carefully execute. One that you known will get you where you need to be,” says Ruffino.

Focused on getting results for your business

Even though things may be going well now, that doesn’t mean they will be when your company increases the volume. Although, sometimes a few minor tweaks are all that’s needed when you enter into a scaling phase, and a business coach can help make that transition much smoother. A professional business coach will help you:

  • Identify and assess opportunities internally and externally
  • Streamline business processes to save on costs
  • Implement marketing strategies that will attract new customers
  • Understand your competition and how it may impact your growth
  • Highlight the “ideal” customers for your business and how to connect with them

Overcoming the challenges of scaling a service-based business

Unfortunately, scaling is even more of a challenge if you own a service-based business as your time is a limited resource. At the end of the day, if you are the only person capable of delivering your service to your clients, you are going to have a hard time increasing your output and generating more revenue without negatively impacting the quality of your service.

This is an undoubtedly tricky situation that many business owners face, yet there are a few solutions, although some may appear counterintuitive at first glance.

For example, Ruffino discusses the potential benefits of raising your prices in order to scale your service business more effectively. The reason being is that it increases your revenue while freeing up more of your time. This means you can focus on providing a better service for your clients which then justifies the high pricers.

“Here’s the thing, if you charge too little, you have to work with more clients, you have a busier schedule, and as a result, the quality of your service diminishes. Not only that, but you will likely find you’re continually looking for new clients, spending unnecessary time and money searching for paying customers.

The answer is simple. Raise your prices, improve your service, laser in on attaining results for your clients, and focus on attracting the cream of the crop. Nine times out of ten, you find you end up generating much higher revenue with less time invested,” explains Ruffino.

The bottom line

Ultimately, no matter how successful you have been as a business owner, it’s still essential to seek guidance from time to time. Professional business coaches can help you unlock your potential by bringing you the expertise you need to streamline your business practices, and give yourself the best possible chance at scaling your business successfully.

About Sarah Saker

Sarah Saker is a small business coach who loves writing nearly as much as helping small business setup systems for success. Drawing from a background in process development and implementation, Sarah loves to cover small business marketing, customer service, and sales. Connect with Sarah on about.me for coaching or writing help.

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