Are you planning to start a business? If yes, you need to ask yourself a few questions;

Do I have the expertise for this business?

Do I have my path clearly chalked out?

How soon should I expect my business to start generating profit?

Is there any way to boost the growth of my business, and do I have the resources to accommodate business growth?

Now that you’ve asked yourself these questions, do you have answers?

One of the biggest mistakes that business owners make when starting a business is that they don’t think their ideas through and make impulsive decisions. There’s a reason why 9 out of 10 new business fail.

New business success rate is only 10 to 20%. If you want to be one of these few businesses that succeed, you should onboard a business advisor and coach to your team. The role of business advisor and coach is diverse, and they can help you find answers to questions you may not be able to answer on your own.

This blog post explains how working with a business advisor and coach can help you build robust business foundations.

Role of a Business Advisor and Coach

A business advisor and coach is a professionally-sound individual who coaches and advises you at every step. Their expert advice keeps you from making the wrong decisions that could mean the failure of your business.

We’ve explained the role of a business advisor and coach below so that you know how exactly they can make a difference.

Conduct a Detailed Analysis of Your Business

A business advisor and coach conduct a detailed analysis of your business and coaches you on how to take things forward based on the results. From analyzing the market for your business to identifying how fierce the competition is to what would give you an edge, the business advisor and coach will ensure that your business is founded on solid facts and metrics and that nothing catches you off guard that would result in your business to topple.

Identify Your Weak Areas

A business advisor and coach will identify your weak areas. Most new business owners overlook their weaknesses, which eventually marks their exit from the market. Being aware of your weaknesses gives you a head start because you know where you need to improve. Your business advisor and coach will identify these weaknesses and then coach you on how you can overcome them.

Strategize Your Growth Plans

If you don’t have a solid strategy for business growth and are just going with the flow, you won’t stay in business for too long. The key to a robust business foundation is a solid and smart strategy for growth. A business advisor and coach will help you strategize your growth and assist you every step along the way to ensure you stick to the plan and rise above all the challenges that come your way.

Evaluate Your Progress

The role of a business advisor and coach doesn’t end after your business starts generating revenue. They’ll evaluate your progress to see what factors may be hampering the growth and how the business can be further improved. They’ll help you identify your areas of improvement and ensure you address the loopholes before it’s too late.

Final Word

If you build a robust foundation for your business, your business will withstand any challenges that may come. However, you won’t sustain for too long if the foundation is weak.

Get in touch with Pressman Advisory for the most experienced business advisors and coaches and ensure your business gets its roots in deep.