According to the OIT publication “ World Employment Social Outlook : trends 2017”, unemployment levels and global rates will remain high in the coming years as the rate of growth of the labor force exceeds that of job creation. Despite the efforts of some governments to try to generate quality employment and aid individuals that are entering the labor market. Hence, more and more young people and senior executives in different countries choose to create their own companies and develop their ventures as a professional option that generates wealth and employment.
On the other hand, there is no doubt that, running a business is hard work. Many of the new startups fail in the first two years or many of them that do survive are not profitable.
In this work environment and business reality the accompaniment provided by coaching to the startup and small business owners is not only important to the entrepreneurial process but also to those who undertake it. Definitely entrepreneurs perform better under the guidance of great coaches.
Coaching for entrepreneurs is the option that adds value to structuring a business model, providing necessary tools that enable business grow. It is the valid alternative to promote entrepreneurship and mainly personal and professional skills necessary to be successful. An entrepreneur coach is somebody who helps a person to move from where they are to where they want to be, and does so by focusing on their goals. Coaching is the key to unlocking untapped potential.
The main benefits of having entrepreneur coaching are:
- Structuring a clear and solid business model.
- Identifying the most important business objectives and establishing a well-thought-out action plan to achieve them.
- Increasing revenue through objectives focused on profitability.4
- Aligning the objectives with the values and principles of the entrepreneur increasing the chances of success.
- Discovering and taking advantage of talent, development of skills, minimizing weaknesses and improving on strengths.
- Developing leadership skills, building confidence and the due diligence of change and risk management.
- Improving communication, conflict management and negotiation skills etc.
- Using the experience and knowledge of the entrepreneur and applying it to complex situations, people, and especially managing emotions.
- Finally, promoting a positive attitude in response to less favorable situations and uncertainty.
Of course, these are not the only benefits, but the most important ones. Coaching is tailored to the needs of the entrepreneur and their project. It is a powerful tool to guide and accompany the entrepreneur in the development and success of their business.
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