Starting a new business offers an exciting opportunity to pursue personal goals and entrepreneurial dreams. However, the reality of building a sustainable business brings its own set of challenges. Entrepreneurs often find themselves juggling multiple responsibilities with limited resources, and it is easy to feel overwhelmed or unsure of the next steps. While determination is crucial, external guidance can be equally valuable. Knowing when to bring in a business coach could be the key to breaking through obstacles and achieving long-term success.
Managing a Business as a New Entrepreneur
Being a successful entrepreneur means more than having a great idea—it requires building a solid foundation across different aspects of the business. The challenges during these early stages can quickly derail progress if not managed carefully.
Understanding the Basics of Business Ownership
The early days of entrepreneurship often require mastering core concepts that lay the foundation for long-term growth. Financial management is one of the most essential areas, involving the ability to monitor cash flow, maintain budgets, and allocate resources effectively. Alongside finances, operations—like managing suppliers, streamlining processes, and ensuring smooth logistics—become critical. New entrepreneurs must also handle marketing, customer relationships, and compliance with relevant regulations. Building this foundational knowledge can feel daunting but is essential to avoid unnecessary setbacks. Taking the time to learn these basics ensures smoother operations as the business scales.
Recognising Common Pitfalls Faced by New Entrepreneurs
Many new entrepreneurs face similar challenges, ranging from burnout to financial mismanagement. Burnout is often a result of wearing too many hats and trying to manage every aspect of the business without help. Poor cash flow management—like overestimating sales or underestimating expenses—can cause problems, leaving the business unable to meet financial obligations. Overexpansion is another common mistake, where businesses scale too quickly without the structure to support growth. Understanding these pitfalls early on allows entrepreneurs to set realistic expectations and avoid preventable mistakes.
Setting Realistic Goals for Your First Year in Business
While the entrepreneurial journey is driven by ambition, setting realistic goals for the first year helps keep progress on track. Having a clear vision is essential, but breaking it down into smaller, achievable milestones provides a more practical roadmap. These might include hitting specific revenue targets, acquiring a certain number of customers, or improving operational efficiency. Measurable metrics make it easier to track progress and pivot strategies if needed. Without these benchmarks, entrepreneurs risk losing focus or becoming frustrated when success takes longer than expected.
Signs You’re Spinning Your Wheels and Not Moving Forward
One of the biggest frustrations entrepreneurs face is the sense that, despite their efforts, they are not making meaningful progress. This plateau often signals inefficiencies or gaps in the business strategy. For example, poor time management may lead to working long hours without productive results. Similarly, misaligned marketing efforts can drain resources without bringing in new customers. These inefficiencies act as roadblocks to growth. Recognising these signs early can help business owners step back, reassess their approach, and avoid sinking time and energy into unproductive activities.
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“I make use of a great toolset in artofscale.io. Essentially it takes a client’s business through an “X-Ray” to highlight major areas where they can improve, with recommendations on what to do. We normally then move onto a Strategy Workshop to finalise a 1-page “Strategy Canvas” and, from there, to an Execution Workshop to develop the Execution Blueprint. From this we would develop OKRs for the business which then lead onto initiatives to reach the OKRs. These would also tie in with the recommendations for focus from the X-Ray. Couple this with executive coaching and you have a formula for success…”
– Guy Whitcroft, Business Fitness, Coach, Consultant, Mentor & Advisory / Independent Board Member
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Knowing When It’s Time for a Business Coach
At a certain point, even the most determined entrepreneur can benefit from an outside perspective. Business coaches offer expertise, structure, and accountability to help entrepreneurs overcome roadblocks and sustain momentum.
How a Business Coach Can Fast-Track Your Progress
A business coach provides more than just advice; they offer structured accountability and personalised strategies to accelerate progress. Coaches bring experience from various industries and can offer fresh perspectives on the challenges entrepreneurs face. By working with a coach, business owners can develop tailored strategies that align with their goals, identify blind spots, and stay motivated through difficult periods. Accountability is another crucial benefit, ensuring that the entrepreneur remains focused and follows through on plans.
Recognising the Right Time to Seek a Business Coach
It can be difficult for new entrepreneurs to determine when they need external help. A business coach is most valuable when an entrepreneur feels stuck, overwhelmed, or unsure how to reach the next level of growth. If months pass without noticeable progress or operational challenges continue to mount, it may be time to seek guidance. Coaches can also help during periods of transition, such as preparing for a product launch, expanding into new markets, or restructuring operations. Knowing when to stop struggling alone and ask for help can prevent wasted time and energy.
Choosing the Right Business Coach for Your Needs
Not all coaches are the same, and finding one that aligns with your business needs is essential. Consider industry experience—some coaches specialise in particular fields, such as retail, tech, or creative industries. The right coach should also match your working style and personality to ensure a productive partnership. Entrepreneurs should seek recommendations, read testimonials, and schedule introductory calls to find a coach who fits well with their goals and expectations. An ideal coach is someone who challenges assumptions while also being supportive and approachable.
Maximising the Value of Your Coaching Sessions
To make the most of coaching, it’s essential to come prepared with clear objectives and relevant questions. Sharing critical documents, such as your financial statements or business plan, helps the coach understand your current situation—convert these to PDFs for smoother sharing and compatibility. For large files, using a tool to compress PDFs ensures they can be sent easily without technical issues. Following each session, outline action steps to stay on track and schedule periodic reviews to assess progress. Open communication fosters trust, and acting on the feedback ensures the coaching relationship remains productive and impactful.
The challenges of entrepreneurship can be overwhelming, especially during the initial stages of building a business. While mastering the basics and setting realistic goals are crucial, many entrepreneurs eventually hit a point where external guidance becomes necessary. Recognising when you are stuck and understanding the benefits of working with a business coach can make a significant difference. The right coach not only accelerates growth but also provides structure, accountability, and tailored advice. Knowing when to seek help is not a sign of weakness but a strategic move towards sustainable success.
Mindy Bartley is a consultant with a passion for ecommerce startups. She founded Startup Steps to share her business expertise with a broader audience, foster a community of like-minded entrepreneurs, and connect new business owners with seasoned mentors.
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