5 Reasons Why You Need a Business Coach
The conversations we have in this podcast and about our industry are pretty high level. Today we are going to unpack the 5 reasons why you need a business coach. The point of this conversation is that if you want to get from point A to point B, you need a coach, and you need to make sure that coach has gone from point A to point B themselves.
No matter what stage of life you’re in right now, when it comes to business, only one question really matters (in my humble opinion):
If the answer to that question, for you, is anything other than a resounding “YES!”, then it’s time to have a talk about why you need a business coach.
I’ve spent roughly $1,000,000 on business coaching (no joke). From Real Estate coaching to Wealth Building to Personal Development to Health & Fitness, I’ve done it all - so I feel pretty confident in telling you the 5 reasons you need a business coach.
1. Need for change
Maybe you’re at the point in your journey where you’ve hit an impasse. Has your business taken over too much of your life? Even the best of us fall victim to sacrificing our physical bodies, our marriages, our relationships with our kids, or our faith, for what? Something has to give.
2. Against all odds
Bottom line...being a business owner is hard. If you want to avoid isolating yourself, you must be aligned with other like-minded business builders who you can feed off of. They can feed off of you as well. There are just things we expect to happen when you’re on the journey to building your real estate business.
3. Fill in the gaps
There may be things you just don’t know in terms of skill set and knowledge. Perhaps you’re a top producing agent with an administrator, and you want to go from 50 deals to 100 deals to even 200 deals. But it’s likely you don’t know how to create the systems, to track your numbers, or you haven’t figured out how to extract yourself from different parts of the business. There’s a knowledge base that you need to tap into to get out of the mindset of the technician/producer. You must get into the mindset of the manager or owner.
4. Work ON your business
In E-myth Revisited, Michael Gerber explains that we need to make time to get away from the technical work of a business in order to build the future version of the business. You do this by taking the time to work ON your business. Most people read the book and wonder, what does it even mean to be working ON my business? It means you must spend time building tools or systems that can replace you in certain aspects of the business. Each system or tool you use makes the business less reliant on you, freeing up your time. If you’re the main cog of the business turning all of the other gears, that’s not sustainable. You will never have true business freedom.
5. Go further, faster.
Check out the interview I did with Dave Friedman to get a better glimpse of what I’m talking about here. He went from 65 sides in 2014 to over 300 sides in 4 short years. Real Estate B-School was right there by his side to help him accelerate his business growth journey. He didn’t have to reinvent the wheel with any tools and systems, he simply swiped and deployed them into his business. Aligning yourself with like-minded people in any area of your life will help you get there quicker.
This advice comes with caution, though. In order to make sure you’re aligning yourself with the right people, you have to do your due diligence. The coaching approach you go with will have a profound impact on your business growth journey. Make sure that they have actually achieved something that you want for yourself and that they have built the systems for you to do so for yourself. A great coach already has the tools and systems in place for you to go further, faster.