Why a Business Coach Won’t Save your Business

Why a Business Coach Won’t Save your Business

If you’re looking for a business coach because you or your business are drowning in debt, you have commitments you cannot meet, and your business is spiralling out of control, then you may be looking at the wrong solution.


A business coach will be able to help you personally through the next chapter of your business journey, but if your business is in dire straits then it is unlikely that a business coach will save your business.


It is a common misconception that you hire a business coach when sales are way down, cash flow is tight, and things are generally going bad. Although, a business coach will be great support and will most likely be able to guide you through this difficult time, it is unreasonable to think that any one person has the ability to turn things around quickly.


Rather than turn to a business coach, it could be a good time to seek the advice of an accountant, and possibly a specialist in company liquidation or administration.


You’ll need to get honest with yourself to understand why your business got into this mess in the first place. Sometimes a business will run in to trouble because of circumstances out of your control, or, you may have just made some bad decisions.


It’s not all doom and gloom, there are some circumstances when a business coach can help you.


You have a lot of people or companies that owe you money


If the reason your business is in a cash flow crisis is due to people not paying you, then hire a business coach now. You need help to develop a system and strategies to collect your money quicker. Unless you’re a bank, it is not reasonable to have people that owe you money for more than 30 days… maximum!


You have demonstrated that you and your business is capable of increasing sales quickly in the past


If you have been able to dramatically increase your sales and cash flow in the past, then there is a chance you could do it again. Working with a business coach could be the one thing that will drive you to make it happen.


There was an unusual but major change that caused the downturn in business


Sometimes a business can experience a downturn in sales because of an unusual one-off event. For example, maybe your business partnership has broken down and your business relied on your business partner to bring in the sales. Now that they’re gone it’s up to you and you’re not sure what to do to bring in more sales. A business coach could help you work out and implement a plan to get your business back on track.


How do you know if it’s too late for a business coach to help you?


You have creditors knocking on your door and constantly ringing you trying to collect money


If you’re already struggling to pay your current suppliers, then it is unlikely that you’ll be able to pay someone else. A business coach will typically start from $1000 per month and upwards, often with a minimum contract period. You’ll need to be able to pay your business coach for this period.


You need an urgent quick fix


If your situation is desperate and you need a miracle cure, then a business coach is not the answer. Working with a business coach is a long-term approach to growing a business. Sure, they may have some ideas to give you a quick win or two, but it is rare that a business coach will be able to give you the instant injection of sales or cash that you need to get out of trouble.


You haven’t lodged or paid your taxes


If you have been using GST or PAYG payments as an overdraft for your business instead of lodging and paying your taxes, you’re in dangerous territory. This can and will quickly spiral out of control. Your first and topmost priority should be contacting and negotiating a way to get square with the tax man before you incur any more expenses in your business. In Australia the ATO will aggressively collect their amounts outstanding if you let this get out of hand.


Your product or service is not good


If your product or service is the reason your business is in trouble, then it’s probably time to hang up the towel and call it quits. It is irresponsible to keep promoting your business if you can’t deliver what your customer wants or needs.


Whatever the reason, you’re reading this article about business coaching because you feel like you need help.


If you’re unsure what to do next, business coach is able to help your business" href="http://maxmyprofit.com.au/contact-us" target="_blank" rel="noopener">contact us and we’ll see if a business coach is able to help.


About the Author


Ben Fewtrell is a sought-after Business Coach, Keynote Speaker and trainer who has featured in Virgin’s Inflight Magazine and Entertainment Portal, SKY Business and “Secrets of Top Business Builders Exposed”. He is also the host of the popular Business Brain Food Podcast where he interviews leading experts on anything and everything business.

1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)

Leave a Reply

Your email address will not be published. Required fields are marked *

business plan template

Get Instant Access to the Business Plan Template that has helped thousands of Business Owners in every sector plan and grow their business.

Learn More
fees and benefits

Our Programs start from as little as $10 a day making it affordable for all business types.

Learn More

Top Rated Articles

The History of Business Coaching

The Inner Series...   In order to understand the history of business coaching, it’s important to go back to t


How your company can adapt to the Digital Revolution

Over the last couple of years, technological innovation has brought about a rapid change in the customer service landsca


7 Biggest Challenges Facing Your Business

It is kind of inevitable that businesses will face challenges at different stages of their growth and development. So, p


Recently Viewed

Build Your Corporate Identity with These Five Simple Branding Tips

Corporate identity. When combined, these two words seem so intimidating especially if you're an owner of a startup or ev


5 Simple Ways to Improve Your Instagram Performance

Instagram is a powerful marketing platform for brands, and that has been proven time and time over, as staggering statis


7 Biggest Challenges Facing Your Business

It is kind of inevitable that businesses will face challenges at different stages of their growth and development. So, p

  • Over the past 6 months the incredible team at MMP have supported us to shift our attitude towards our business & month on month our revenue is increasing to the point we will be able to employ additional staff to support our business goals long into the future. Do not regret our decision one single bit!

    • Emma Reece

  • Working with my coach has enabled me to see the areas where my business is failing. This was pretty confronting to me to be honest. MMP has the tools to improve these areas and the guidance on how to implement them.

    • Sharon Robinson

  • I have been working with Max My Profit for approx 3 years now, and over that time I have learnt a lot of things about not only what it takes to run a business, but I have also learnt things about myself. I don't believe i'd be the person or have the business I have today if it wasn't for Max My Profit and our Business Excelerator. Great team to work with if you want to take your business serious!

    • Ben Choy

  • As a new client for Max My Profit (MMP) it has taken no time at all to realise the benefits of business coaching. Despite many years of senior management experience starting a new business requires best practice systems and processes built on a solid platform of detailed planning. I look forward to the benefits of adopting the formula being shared by MMP.

    • Campbell MacLeod

  • Max My Profit Are truly awesome at what they do. They have helped me over the past 12 months to get off the tools in my business and start working on my business. I am looking forward to 2019 with enthusiasm not concern. Thanks so much.

    • Aaron Kemp

  • If you are committed to Growth the Max My Profit Team has the tools and expertise to excelerate all areas of your life. They Care, They Listen, They Understand You as an Individual first then they focus on Your business. Thank you Max My Profit my rating is a 6/5 - Kindest Regards The Mr Handyfix Team

    • Catherine Kavadas

  • The team at Max My Profit are an absolute pleasure to deal with. I love working with a team who is on top of what they are doing and have a clear view of what they are working on with you and helping ensure you get to the end goal.

    • Lauren Watts

  • I have been working with MaxMyProfit over the years and what they do for SME's in growing their business is fantastic. Also due to there knowledge and their supporting material for companies across the 5 lifestyle stages and assisting them through this process day in day out is extremely comforting as a small business owner and have referred them many businesses over the years.

    • Steve Laingy

  • Working with a business coach from MaxMyProfit has been one of the best things I have done for my business. I had several other coaches before MaxMyProfit but these guys are a step above the others. I have seen a significant increase in sales, now have a business that can run itself and the coaching program has paid for itself many times over.

    • Matthew Kitchin

  • Much more than just business coaches. There is an absolute treasure chest of business knowledge in their members site.

    • Iain Campbell

  • Max My Profit are unique as they really partner with you to develop and implement a plan that will drive success for the business. I was hesitant to proceed as previous business coaches tell you what to do and rely on you to implement.

    • Michael de Haan

  • I attended one of Max My Profits introductory events in Melbourne. Having been an accountant for almost 30 years, I was somewhat sceptical. Boy was I wrong. I not only enjoyed the presentation, but I gleaned so much from just that session.

    • Daniel Odd

  • These guys are an absolute wealth of knowledge for Small Business. The programme and support networks they have set up ensure learn more every day and can take your business from good to great. Thanks so much.

    • John Butler