Do I need A Business Coach?
When thinking about this, it’s important to know some real statistics first:
80% of businesses survive their first year. However, that percentage continues dropping as years go by. More precisely, 70% of companies survive their third year, while 50% survive their fifth year. A whopping 70% don’t pass the 10-year mark.
What are the top reasons businesses fail?
There are quite a few reasons why many new businesses fail. The most important ones include:
1. no product-market fit
2. Flawed business plans
3. Lack of financing
4. Bad location
5. Poor online presence and marketing skills
6. Overpricing
7. Growing competition.
In terms of numbers, how Big do businesses get?
Astonishingly, only 4.5% of UK businesses ever reach over £1million in Annual turnover.
What does this mean for me?
So it’s safe to say the odds are well against you when you start your business, especially if you have big plans.
Looking at the stats. Finding someone who is a few years in front of you (that is proven to be successful) and can show you what to do next or at least intelligently advise you, I would say is rather critical.
Your own business skills likely need more development and the decisions you make early days will make or break you. As the statistics show, unfortunately, it breaks most people.
From my experience sometimes people just don’t listen to good advice and build false projections that are simply unrealistic and sometimes no matter how hard you try some people with little experience still think they know best, you see, a little knowledge is very dangerous and in business, it can take a while for bad decisions to catch up with you, and when they do they can end you.
Running a business is very different from doing the thing you were good at when you decided to start a business!
I have made some poor decisions over the years that have cost me dearly, this is part of being a risk-taking entrepreneur, luckily though I have pulled through each storm and I still have successful businesses under my control today that do very well. There are ups and downs and you need to be comfortable with that.
A calm sea never made a good sailer but without experience or intelligent guidance its easy to hit the rocks.
Being a professional business owner or entrepreneur is a life long skill you must work at hard to master, the quicker you master it the better chance you have to succeed but the learning never stops.
Mistakes can be fatal but good decisions can change yours and your families life for the better.
There will always be elements of risk but the reward will mirror the risk; small risk = small reward, big risk = big reward.
My journey has been bumpy and to this day remains challenging. Just when you think you know it all, the game changes. Your journey will be no different.
Over the years I have been influenced and advised by some fantastic people and without their guidance I would be nowhere right now. Sometimes these were people I knew, sometimes I had to pay to get amongst the right people, that’s just how it is.
Deciding to get a coach to help you through your business journey is a big decision but what sort of coaching you need will depend on where you are at right now, and where you want to end up.
Your success depends on making the right decisions that are acted upon at the right times, who you have around you, who you listen to and who you trust, will MATTER A LOT.
Take a look below at what’s on offer here at Aaron Dronsfield Coaching and if you think any of these approaches work for you right now, just get in touch.
Mentoring (programme duration 1-hour sessions booked as required)
Suitable for:
* New startups
* Developing a business mindset
* Transitioning from employment to starting a business
* Ideas brainstorming sessions
Cost £149+VAT per session
Kick start programme (programme duration 3-6 months)
Suitable for:
* Those who already have small business that needs organising and tidying up before it can grow further
Cost £399+VAT per month for 5 months
Entrepreneurs Marketing System (Programme duration 12+ months)
Suitable for:
* Businesses that are established but need help moving to the next level.
Cost £499+VAT per month
You can book a call in to discuss any of these packages here