Taking onboard a business coach is a big step for any business. Lot’s of hours have been invested by you to push your business towards success. Acknowledging that you may need help and starting that process is a huge step in the right direction, and be proud you’ve had the foresight to recognise that you need business advisory assistance.
When any business takes on a coach, advisor or strategist, there are some factors that need to be considered to ensure the right fit; and this is super important with a Tradie or Construction business.
Here are our top picks of things to look for in a Tradie or Construction Business Coach:
This is actually non-negotiable from where Helix Planning is concerned. How can your business coach resonate and empathise with you - really truly understand - what it’s like to be a business owner IF THEY NEVER HAVE BEEN ONE? So always ask for the business history of your advisor and check their business credentials. How long have they been in business, and what has that looked like - is/was it successful? The last thing you need is someone who has never run a business engaged to give you business advice or coaching.
Okay so there is a difference between a business coach, a business advisor, a business consultant, business mentor and a business strategist. Confused yet? You can check out the differences here. Whichever you decide is best for you, whomever you pick should be able to clearly define and explain to you the difference and provide you with a commitment as to what your outcome will look like. Some coaches are not strategists and vice versa. As your hard earned $$$ is being handed over, it’s super important that upfront you understand what the expected end goal/offering/outcome looks like.
The advisor doesn’t necessarily need to be an industry expert and sometimes having someone from outside the industry can be a huge benefit as they offer no industry ‘legacy’ issues and a different perspective. That said they still need to have a really in depth understanding of your business, and how it and your industry works. You can always contract in for consulting if you need specific industry based advisory.
Tradies are a unique bunch, and we legit couldn’t survive without them! They provide both essential and growth services to consumers, businesses and government sectors, and there’s a particular way that trades do business. From qualifications needed, to trade accounts and payment terms, insurances required and training and workcover obligations, the tradie and construction industry is not the same as any other industry. Ensure your strategist or advisor has experience in working with tradie businesses and well, gets it!
Tradies are all about getting sh#t done! To do that, you need to understand what your business coach is saying- they need to be able to talk tradie with you! Yet also explain concepts at a level that you understand. Maybe even draw you pictures! ha. Pretty much you want someone who doesn’t talk in a high-level language, you know super big words, and is able to communicate in a down to earth way.
Perhaps one of the most important requirements, yet I’ve put it further down the list as it may not yet be on your radar (ps, it should be!); but financial literacy is the foundation of a solid and successful business. Your advisor should not only have an in-depth understanding of financial literacy, but they should also be able to share that knowledge with you, so you end up a financial literacy boss, for ALL intents and purposes! Financial literacy simply means, understanding cash flows, budgets, assets and liabilities and all things money, and how they interact in your business. You’ll know the saying that “cash flow is king” and whilst yeah it’s true, it’s a very lonely soldier without the rest of the financial army that is solid financial literacy.
A quality coach and advisor, will have spent years in business themselves and have done the groundwork for you and weeded out the superstar contacts you need to run and be successful in business. This would include an Accountant, a Solicitor, a Marketing and Design Strategist, a Finance Broker, and Entity and Structure Specialist, an Insurance Broker, and IT Guru and a Workcover Expert. This is really priceless: they’ve done years of research finding trusted advisors and you benefit from this, with none of the hassle of trial and error to find the right specialist for you and your business. I cannot stress how important it is to be surrounded by a group of advisors that have your back, and can give you the answers you may need, when you need them, simply by an email or a phone call.
At the end of the day, if you are going to invest in your business, your staff and well, yourself, you want to ensure that you get a return on that investment (ROI), and it needs to make sense. You’re too busy running this business whilst you juggle the different business balls to have to keep the coach accountable, you’re not the business jester even though some days it may feel like it! So stick with our top picks and we reckon you’ll end up with a legend of an advisor that matches your needs and helps you achieve your short and long term outcomes.
If you need help working out exactly what type of advisor you need, or simply would like to enquiry as to our offering, get in touch today. Sarah can be contacted on 0421 079 415 or firstname.lastname@example.org and if you haven’t already worked it out, she talks tradie.
Helix Planning: Resolve to Evolve