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4 reasons you might need a business coach

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Brent Willeford, Director – Internal Practice Development

Great Practice Solutions


“Everybody wants to be a success. Not everybody is willing to do what they have to do to achieve it.”
   —Nick Saban, University of Alabama football coach

Coach Saban’s approach to preparation and discipline for peak performance has reached a level of mystique and reverence that other programs have been trying to replicate for years. And the desire to operate at the highest level isn’t isolated to sports. Competition in our industry is as fierce as any on the field. Are you and your business operating at peak performance?  

If you’re like most, the discipline required to excel at both advisor and business owner doesn’t come easily, or naturally, and you need support from a trustworthy source to elevate your game. Some of my proudest accomplishments occurred when I had a plan, executed it to the best of my ability, and let my skill and attitude take care of the result. In each case, it was much easier to hit my stride and grow when I had a coach by my side. And the same is true in the wealth management industry.

BUSINESS COACH = BUSINESS BREAKTHROUGH

Having the self-awareness to recognize you need a business coach puts you one step closer to a business breakthrough. Stagnation can happen at any level; even the most successful advisors can reach a plateau and feel they’ve “maxed out”. The perspective of a coach may be able to help you break the cycle:

  1. Bring ideas to life

It is more than just the study of business success – via books, guides, software apps, etc. -- that produces growth. It takes clever decisions, informed collaboration, a dependable sounding-board and effective guidance to make your ideas actionable. Your coach can objectively see beyond the day-to-day and can help you make the necessary connections, revealing the path to greater success.

  1. Collaborate for success

A coach acts as a filter, helping you self-discover answers already inside you and adds perspective as you prioritize. Challenges, obstacles, plateaus, blind spots – they have seen it all and even experienced it themselves. Their insight and guidance could allow you to break through to your next level of success and see your path far more clearly.

  1. Hold you accountable

A business coach can hold you accountable to your goals, share strategies to meet them and keep you honest. Beyond providing an outside perspective, your business coach is your partner, a third party pushing you to reach the ultimate outcome you set for your business and working beside you to ensure follow-through, focus and discipline. And when motivation is in short supply, they are there to remind you of your long-term plan and your accomplishments toward the end goal.

  1. Develop a roadmap

Through your work and the work of your business coach, you will be able to take a step back and create a roadmap for your own success. Proactive strategic planning can help alleviate the frustration of misaligned goals and daily distractions and interruptions. Further disassembling your strategic plan into workable segments with regularly scheduled planning sessions can help escalate forward momentum. Time invested building a plan with your coach is an investment in growing as an advisor and a business owner.

Take your practice to the next level with a business coach.

Find out how our Practice Development Team and Great Practice Solutions program can help.

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