The life of start-ups or fast-growing companies can quickly become extremely stressful and chaotic. There are many different areas that you have to take care of as a leader, and that can be a challenge. Topics such as business planning, financial forecasting, employee management, and customer acquisition are the daily routine for small businesses. So it’s no wonder that people are seeking help!
Below is a bit more about business advisors and business coaches.
Why Businesses Need a Business Advisor?
As much as you like doing most of the things yourself, no one is really a master in everything they do and taking a do-it-yourself approach for your business can create some trouble. That is why entrepreneurs are recommended to seek advisors assistance in crucial aspects of a business, before making any decision. Here are some of the things that business advisors can offer:
- Help you with business plans, marketing and planning. Through a business advisor, you don’t need many experts in your organisation because the advisor has the practical know-how in all the different areas of your business.
- Unbiased opinion. Recruiting a business advisor also means that the advisor will observe your entire organisational structure with a pair of fresh eyes and would provide you with an honest and unbiased opinion on what he sees. This is very important for any founders or CEOs because the sooner they realise what they are doing wrong, the faster they can undo their mistakes and grow their company.
- Time. A business advisor will take the time to understand the company well and explore the areas in which there is an opportunity for the business to venture into or even to improve on. This relieves the burden on yourself and gives you interesting insights from a different perspective.
Nevertheless hiring a business advisor is a big decision that can seem a bit discouraging for business owners. It is a great responsibility to share your business strategies with a completely impartial third party.
Advantages of Hiring a Business Startup Advisor
A business startup advisor can help you to fully exploit your potential and to look beyond one’s own horizons from time to time to discover new ideas. It can also help to remember ideas that work. Perhaps to achieve what seemed to be unattainable so far.
2. Good work-life balance.
With different roles in the private and working sphere, each with different requirements, it is easy as an entrepreneur to lose track of what is going on. Therefore by hiring a senior executive coach, he or she will be able to assist you to keep the overall view and focus of the company in check, so that you can fully perform your current role.
As an owner of your own business, it is common to always have a lot of self-doubts. We tend to perceive ourselves as being completely different and often see weaknesses where our strengths lie. This usually leads to us not being able to see things clearly. Thus, with a senior executive coach with you, he or she will provide encouragement and valuable insights where we start to see ourselves in a better perspective. The road of a startup business is already tough as it is, so having someone by your side that can give you the confidence and motivation to succeed does help you make better decisions and in the end achieve better results.
4. Improve Communications Skills
Communication is a broad field with different challenges and levels of impact. It is important for you to have good communications with anyone that you meet or even work with because you will be able to engage with them in a more effective manner.
How do you communicate with employees, subordinates or customers? What is important in detail when communicating? How can it be made even clearer, more targeted or more effective?
All these questions can be answered through the guidance of a business advisor. A business coach will be able to coach you to optimise different scenarios with different tactics.
Entrepreneur Coaching Programme
An entrepreneur coaching program is a program that is designed for an entrepreneur to receive coaching from a senior executive on how to create a thriving and successful business. In Malaysia, there are numerous leadership entrepreneurship programs catered for entrepreneurs. However, there are still some entrepreneurs who will never consider being coached, either because they feel they know their business better than anyone else or because they think they should know everything about their business. It is understandable that it can be difficult to ask for help. Nevertheless, let me give you some key points on how valuable a senior business coach can be.
- They focus on where the business currently stands, evaluates what works and what doesn’t, sets goals, and creates an action plan.
- They can be a guide to the challenges facing business and life. These knowledge-building experts offer the entrepreneur added value. They can identify weaknesses, give objective advice from outside, and hold you accountable for your goals. These experts have seen companies grow in every phase and know the obstacles that come with every step.
We at NEXEA also offer an Entrepreneurs Programme for tech entrepreneurs in Malaysia. It is an exclusive private forum for top tech entrepreneurs to learn & grow together. Entrepreneurs are guided by some of the best Startup mentors & investors. NEXEA has the strongest mentor profile in the country with people that own listed companies (IPO), done M&A, are CEOs/CFOs, or are ex-entrepreneurs that have successfully grown their companies regionally.
It is a forum for you to solve your business problems with peer entrepreneurs who have probably experienced similar issues. NEXEA uses systematic methods to solve issues together.
NEXEA Academy focuses on value provided to members to ensure that learning & growth is constantly & increasingly provided to members.
Summary for Business Coaching
Some entrepreneurs or managers shy away from hiring a business coach – nevertheless, there is no better way to learn more about yourself and to understand how to make better decisions and invest in your career. It is not only about success and goals, but also about relationships and trust.