Do You Need a Business Coach?

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Do You Need a Business Coach?

Feb 09, 2021

The past year has been a struggle for many businesses of all sizes and across all industries, and the events of 2020 have been unprecedented for owners and leaders who thought they had already been through it all. Many are questioning what’s ahead and struggling to pivot with the future of the economy so uncertain. Even when times aren’t so unprecedented, business owners and leaders need some support and guidance of their own. However, there are some big, very obvious signs that it’s time to start working with a business coach.

Accountability

When the business owner is the boss, they are generally only accountable to themselves. That can make it too easy to put off important initiatives to grow and improve their company. A good business coach won’t let the owner off the hook once they make a commitment to an improvement. Things like establishing a sales process for the team, or making sure your accounting practices are correct can be easy to put off if the owner is not accountable to someone other than themselves.

At our monthly peer group meetings, the members also make a specific commitment to the group at the end of each session. The group then revisits that commitment the following month. This makes everyone accountable and ultimately improves the business and the business owner over time.

Plateaus

Have sales and performance in your business plateaued after a period of growth? It’s not always easy for those on the frontlines to see where the problem is, but there’s a chance that something is continuing to be done within the business even though it’s no longer working.

Lack of Goals

Think back to when you created your business plan and the goals you included as milestone markers for success. Have you reached them? If so, what new goals have you established? If you haven’t yet marked those milestones, what’s keeping you? If you don’t have any goals, it’s surely time to call in a business coach.

Leadership Issues

If there is constant discord among your most senior leaders or C-suite, your business is in trouble. Culture is more important now than ever before, and that starts at the top with a team of leaders that work together and lead the rest of the organization by example. The wrong culture can drive top talent (and revenue) for the hills.

Absence of Leadership Training

Everyone at every level of your organization is looking to grow and thrive within their role, and that’s especially true for leaders. If there’s not already a system in place a business coach can assess needs and help create one that promotes professional and personal development.

Lack of Engagement

Employees below your leaders and managers need to stay engaged to continue to be productive and help your business move forward. Low retention, lack of morale, and a general negative culture around the business are all signs that engagement is flagging.

How will Business Coaching Help?

While consultants and coaches play roles that overlap, business coaches are much more of a mentor that will continue to support business leaders in their overall growth. Business coaches won’t give you the answers you’re looking for but they will stand by your side and guide you to solutions. This partnership will also force leaders to ask difficult questions and push them to face challenges head-on.

These questions and answers will shape new goals for leaders and businesses as a whole. Business coaches listen to the leaders they work with and uncover bits of information that can clarify those goals. If there are no business goals set or leaders can’t express them clearly to their team, a business coach will help change that.

Once those goals have been established, business coaches will be able to pinpoint the skills that leaders need to focus on to meet and exceed those goals. It could be those underdeveloped skills that contribute to performance plateaus or lack of engagement; the root of an issue that could be causing several other issues within an organization.

Perhaps the biggest benefit that a business coach can offer is the support to make better, quicker, more efficient decisions that lead to growth. Many of the signs above that a business coach is needed can be a result of leaders not knowing how to make decisions with confidence. Throughout their process, business coaches will pinpoint why it’s become hard for leaders to make those decisions and create a system that works to improve the decision-making process — and a business’s bottom line.

Business owners who want real help to improve themselves and their business — not just a consultant to try and do it for them — can benefit greatly from hiring a business coach. Some owners still haven’t worked everything out, and are in the process of putting together their ideal vision, not just for their business but also for their lives.

The Alexander Group’s small business coaching can help with identifying what that vision is and how best to transform the business to support it. We’ve faced everything you face as a business owner, such as forming new enterprises, turning around struggling operations, and establishing level expansion in fast-growing businesses.

We focus on providing clients with a more personal, intimate approach to guidance. To learn more, contact us online or give us a call today.

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What Small Business Owners Need to Know About Email Authentication Requirements

08 Mar, 2024

Have you been having trouble sending out bulk emails and email blasts recently? Are you suddenly having deliverability issues with clients and vendors you've been emailing for years? If so, you're not alone — Google and Yahoo rolled out new DMARC requirements in February, creating headaches. We have heard that many of our small business owner clients and their IT departments are having such headaches. To investigate this issue, we have leaned on IT expert and long-time TAG peer board member Fred Moore of Moore Computing. Fred has walked us through changes to DMARC and offers advice on how small business owners can get their emails back into the inbox. While DMARC changes have thrown many into a temporary tailspin, the changes represent a move to safer and more secure email communication for all parties. Let's discuss what small business owners need to know about DMARC, how they can ensure their emails reach customers' inboxes, and how to keep their business digitally secure. What is DMARC? Cybersecurity measures are similar to cars: most of us drive one daily, but most are unable to lift the hood and understand exactly how it runs. Most of us rely on cybersecurity measures to keep our businesses safe online, but we may need help understanding the technical elements that keep us safe. That said, all small business owners should have a general background in cybersecurity, and DMARC is a great place to start. DMARC stands for "Domain-based Message Authentication, Reporting & Conformance." The idea behind DMARC is to limit the volume of scams and phishing on the internet. DMARC works with SPF and DKIM. SPF (Sender Policy Framework) is a list of services and servers that are authorized to send emails on behalf of your domain, and DKIM (DomainKeys Identified Mail) is a digital seal that verifies the content of your email hasn't been altered or tampered with. DKIM is also able to withstand email forwarding, whereas SPF can not. Senders and Recipients At its core, DMARC validates the authentication of the sender of an email message. When there are deliverability issues with a message, it usually falls back on the sender. Small business owners know the importance of getting marketing campaign emails and other communications into their customers/clients' inboxes; to accomplish this, it is crucial to follow all protocols to ensure you have the best chances to reach customers' inboxes at an optimal place (i.e., not the spam folder), and avoid spam complaints. How does your email make its way to recipients? It follows a basic flow: ● The email is composed and sent ● The sending mail server will add DKIM ● The email is sent to the recipient's server ● Validation tests begin, checking DKIM, SPF, and DMARC policies ● The email either passes, is quarantined, or is blocked/deleted ● If the email passes, it goes through the recipient's user filters and inbox rules

The Costly Mistakes of DIY: Why Small Business Owners Should Invest in Professionals

11 Jan, 2024

Running a small business is a challenging task. It requires dedication, hard work, and juggling multiple responsibilities. Often, small business owners try to cut costs by taking on tasks themselves, even if they are better off calling a professional. While the intention may be to save money, the reality is that DIY can lead to costly mistakes and legal pitfalls. Let's explore the common mistakes small business owners make when they opt for a do-it-yourself approach and why investing in professionals like lawyers, accountants, and general contractors is crucial for long-term success. The Myth of Saving Money Many small business owners believe that handling tasks themselves will save them money in the long run. However, this is often a misconception. While it may seem cost-effective initially, the lack of expertise and knowledge in critical areas can lead to costly mistakes that can ultimately hinder the growth and profitability of a business. The Value of Professional Services Professional services, such as lawyers, accountants, advisors, and general contractors, bring expertise, experience, and a deep understanding of industry regulations. They can provide valuable guidance, prevent legal issues, and help small business owners make informed decisions that align with their long-term goals. Most of the time, business owners don't consult with their advisors because they are wary of spending money on bills from their advisors on top of other expenses. The phrase "You can pay me now, or really pay me later" comes into play in these situations. Business owners should not be afraid to discuss money and bills from professionals with their advisors, and they should properly compensate advisors for their time. Complaining about spending a few thousand dollars to review a $20,000,000 contract can cost hundreds of thousands due to difficult payment and dispute resolution terms. Protecting Your Intellectual Property Intellectual property (IP) is a valuable asset for any business. Failing to protect it can lead to brand confusion, loss of revenue, and legal battles. Trademarks, copyrights, and patents should be filed appropriately and protected to ensure exclusive rights to your brand name, logo, or product design. How Professionals Can Help Lawyers specializing in intellectual property can guide small business owners through filing the necessary documents and paying the required fees. They can conduct an IP audit to identify and protect essential assets, develop IP protection strategies, and enforce IP rights if violations occur.

What Business Owners Can Learn From Al Pacino’s Locker Room Speech in “Any Given Sunday”

09 Oct, 2023

In the 1999 film “Any Given Sunday,” directed by Oliver Stone, Al Pacino delivers a powerful and memorable locker room speech that has resonated with me for years. The speech, delivered by Pacino’s character, Tony D’Amato, before a crucial football game, encapsulates the essence of the film and the themes it explores. While the speech is specifically about football, its underlying message can be applied to various aspects of life, including business. The idea of fighting for inches, continuously improving, and eliminating mistakes is a powerful metaphor for the importance of perseverance and adaptability in business. It highlights the value of small victories, incremental progress, and the relentless pursuit of excellence. For business owners, the speech serves as a reminder to focus on the details and the small wins that can accumulate over time. Just as a football team must fight for every inch on the field, a successful business must be diligent in managing its resources and seize every opportunity for growth. It emphasizes the importance of building a team that shares the same values and is committed to continuous improvement. Think of it in terms of all the inches and seconds around us in business and how $200 here and $50 there adds up. The whole concept of continuous improvement, eliminating mistakes, and fighting to get better is what I believe Oliver Stone intended when he wrote it. I love it as much today and as when I first saw it and the metaphor of getting into business and being profitable. You can read the transcript here . Or watch it here: