Business incubators exist to speed up the growth of a new business by keeping it pointed in the right direction. They offer office space to house the start-up as well as avail the IT infrastructure, access to funding, and open up networking opportunities for the budding entrepreneur. This is great in terms of cost efficiency for the start-up. However, there are other core needs necessary for the long-term survival of the business that a business incubator/ accelerator may not meet. And that’s where business coaching comes in.
A lack of motivation has been among the top complaints since lockdown was imposed. This has partly been due to loss of daily routine, uncertainty regarding future working conditions, and a total change of priorities that have made it difficult for people including entrepreneurs to maintain focus. Coaching helps individuals refocus by providing guidance on what’s important. Business coaches seek to understand what’s most important to the entrepreneur, helping them to plan their day, and unlock the full potential within them during these times.
Improve Cohesion among Colleagues
Working relationships have been drastically affected by the pandemic with Zoom meetings replacing face to face meetings. Online meetings require formal structuring, especially for a business with a significant number of participants. These kinds of meetings may be tedious for teams that value collaboration during the decision-making process with the more assertive and aggressive individuals dominating the platform. However, business coaches guide participants on scheduling meetings in favour of all involved as well as engage groups by asking the right questions that bring people together, and prompt teams to find creative ways of working that are acceptable for all involved.
Overall Business Growth
No one knows with certainty when the pandemic will finally be behind us. New mutations are being announced every now and then, however, this should not dissuade entrepreneurs. True, the team may not meet at a café any time soon; however, knowledge sharing sessions can still go on. Peer Pioneers helps business owners to stay focused on their aspirations by helping them set measurable goals. They do this by providing innovative ways of matching entrepreneurs from different walks of life to mentors and coaches in their industry. Many entrepreneurs testify to feeling inspired after these sessions with coaches and go away with fresh insights and ideas to move their businesses forward.
With an unclear future, entrepreneurs must maintain a clear focus on their goals and an understanding of what it will take to achieve them.