Athletes. Singers. Authors. Actors. Speakers. When you think of the type of person who might work with a coach, are these the professions that come quickly to mind?

Let’s add one more to the list of people who might use a coach: Business owners.

If you run a business, you might hire one for a few reasons. But often there’s a single, strong driver. If you have a hard time finishing what you set out to do, a coach could be that needed accountability partner to keep you on task, so you reach your goals. You might hire a coach to play a role that’s more like a mentor — someone who’s been down the path you’re on but walked that journey years ago and have wisdom to share.

You might want a well-rounded coach, similar to a sports coach. They could help you achieve your full potential, analyze your performance (we’ll call that, how you run the business) — and provide encouragement and motivation. They would dole out the tough love, when required, too.

“A coach is someone who tells you what you don’t want to hear, who has you see what you don’t want to see, so you can be who you have always known you could be.”

My Role as a Profit First Coach

The best-seller Profit First is now a cash-management methodology used by businesses world-wide.

I happen to be a business coach who’s focused on the Profit First methodology that hundreds of thousands of businesses now follow across the world. (Technically, I’m called a Profit First Professional, and I talk about what that means here.) I help company owners become more confident about their business’ financial decisions and the related practices they establish and adhere to. I work with people on strategies that include expense reduction and paying down debt. And because we often focus on achieving goals — such as taking out 10% of each dollar your business makes, setting it aside for profit — I’m the business owner’s accountability partner as they work toward hitting those targets.

I’m a CPA, of course, and that has appeal to people. They know I understand the finance side of running a business and may already know, like and trust me because I’ve been doing their tax work for years. If someone considers me to be a mentor more than a coach, I take that as a compliment. I’ve had a few mentors over the years, and they played a role in making me who I am today. I like how the former head coach of the Dallas Cowboys, Tom Landry, described the role: “A coach is someone who tells you what you don’t want to hear, who has you see what you don’t want to see, so you can be who you have always known you could be.”

Coaches: Here Today, Then Gone Tomorrow?

When you first commit to work with a business coach, you might not think about how long the relationship will last — and you shouldn’t have to in the honeymoon phase. Initially, you’re testing out the coach to see if you two have chemistry and if they seem like they can help you. (Pro tip: When you’re researching coaches, make sure you get an opportunity to talk with the person at no charge, so that you can check for that all-important fit. You’ll often know within the first few minutes.)

If you want to bring the Profit First approach into your business, we will work together, ideally, for at least six months. Initially, our meetings could be weekly, and they often transition to every other week or monthly.

How long you choose to work with a business coach is up to you. If you’re still benefitting from the relationship, you’ll continue to feel comfortable and want to continue working with the person. But it’s your money and time and, ultimately, your decision for how long to continue.

Benefits of Working with a Coach

As I’ve been writing this, a few more ideas came to mind why you might want to hire a business coach:

• You want a sounding board, someone to bounce ideas off of, or to debate the pros and cons of decisions you want to make.
• You need to share private business information with someone, and it can’t be anyone in your immediate circle.
• You need someone who’s unbiased and won’t quickly agree with every “great” idea you come up with.
• You want a confidant, someone you’re not afraid to share your business plans, hopes and fears.

How Would a Coach Help You?

Hiring a business coach is an investment in your business and in your professional and personal development. I believe every business owner needs — make that deserves — a coach for as long or as little as they need help. Sure, I might be biased. But I truly believe in the power of coaching and being coached.

If you’d like to explore the idea of working with me to implement Profit First into your business, the first step is to schedule a complimentary 30-minute call. We’ll talk through your questions and concerns and short- and longer-term goals. I’ll share what you can expect from having a Profit First coach — and then you can decide what comes next.