How to coach entrepreneurs
and help them achieve their goals
Entrepreneurs are one of the most common types of people looking to hire a coach.
As an entrepreneur, they’re striving for greater things in life:
Positive impact on others
Creating something of value
And the golden rule of personal development is, “For things to get better, I must get better.”
So it makes sense that aspiring entrepreneurs look for coaches to help to improve in all areas of life.
But what’s the best way to coach an entrepreneur?
Here’s the 5 main things I focus on:
Every business on planet earth involves interaction with other people.
Whether it’s online or in-person, you cannot succeed in business without building good relationships. The more solid relationships you have and the more connected your network, the more likely you are to succeed.
So priority #1 for new (and seasoned!) entrepreneurs is to improve your current relationships first.
If your relationship with spouse, kids, parents, or friends is messed up, you’ll have a hard time building good new relationships.
Teach them to forgive and ask forgiveness, how to honor their word, and do their fair share in their relationships.
Inspire them to truly connect with their loved ones on a deep level as often as possible.
Naturally, as closer relationships improve it becomes easier to foster positive new relationships that lead to success in business.
2. Time management
Most entrepreneurs think, “sweet! I’m working for myself. I don’t have to manage my time!”
And they are SO wrong.
If they don’t know where their time goes, they don’t know where their money goes.
How much time do they spend checking email, texts, social media?
What time do they go to sleep?
What time do they wake up?
Have them track where they spend their time and they’ll quickly notice they have more time than they thought to work on their business - it’s just leaking through their schedule all over the place.
3. Money management
“If they don’t manage their dollars, their business won’t make cents”
Teach them to start wisely by making sure you build the business around making a profit. If they’re not making profit, they may as well call in a non-profit and consider it charity.
Charity is great, but its pretty much the opposite of running a business.
So have them make a budget, no matter how simple, and keep track of all income and all expenses in one place.
Lots of studies have shown that even being aware of how much money you spend helps to make better decisions about money.
4. Track numbers
An entrepreneur needs to know their numbers.
What did they do, how much of it did they do, and what were the results?
How many leads did you generate?
How many did you follow up with?
How many said yes? How many said no?
When they track numbers like this daily, weekly, and monthly, they’ll start to notice trends.
They’ll figure out the math of exactly how much effort it takes to produce the results they’re looking for.
When the body is physically weak, it tends to be mentally weak.
When the body is physically strong, it tends to be mentally strong.
You don’t have to be a physical trainer to encourage your client to do some form of exercise each day.
It could be as simple as doing 10 push ups per day and slowly building from there, or walking around the block and eventually growing into a habit of longer walks or even runs.
Get their body moving and you’ll see them have a boost of energy to work on their business in a big way.
So don’t be afraid to coach entrepreneurs - they might think their problems are complicated, but they can almost always be traced back to falling short in one or more of these 5 areas.
Coach them effectively with these 5 things and they’re sure to see better results!
Quote of the week:
Never get so busy making a living that you forget to make a life.
Song of the week: