Tag Archives: business failure

Life Coach Or Business Coach

Life coach or business coach?

“The only thing that is constant in life, is change” Heraclitus of Ephesus

Isn’t it amazing how the life coaching revolution has swept across countries at such a rapid rate? And that a profession that didn’t even exist 10 years ago is now considered to be a bona fide life path?

What is the attraction of life coaching, and why has it caught on so much quicker than business coaching?

The answer is simple – life can be hard! Everyone needs help at some time, and to enjoy the guidance of a life coach is a perfectly acceptable solution.

Conversely, business – that is actually much harder than most aspects of every day life – is not openly acknowledged as difficult. The media flashes Richard Branson’s grin, Bill Gates’ philanthropy, and Warren Buffet’s simplicity in our faces. But the failures, sleepless nights, and tummy-aching stress that they all underwent to get to where they are, is completely hidden in the background.

Steve Futrick worded it perfectly when he said:

“The reason we struggle with insecurity is because we compare our behind-the-scenes with everyone else’s highlight reel.”

This is the most common error in business: Not knowing that most business people struggle. In fact, 86% of new businesses close down within their first 24 months of operation. These are the statistics that we don’t hear!

So when someone is struggling with their business, they look inwards and try to resolve their problems by themselves. If people knew the realities of running a business, they would be far more open to engaging with a professional business coach.

To attend life coaching is a useful practice; to attend business coaching is both a life and business transforming habit.

Consider this quote by Heraclitus of Ephesus:

“No man ever steps in the same river twice, for it’s not the same river and he’s not the same man.”

In the same breath, no business-person walks into the same business coaching session twice – it’s never the same business mindset, and he or she is not the same business person after the session.


Book a business coaching session today!

Why Do Businesses Fail?

Why do businesses fail?

There are a thousand expressions that talk about working hard yielding rewards. Unfortunately, many people in the business world will dispute this philosophy. Hard work is certainly admirable and brings results, but it is not the only ingredient required to ensure business success. 

Business fail because of a myriad of reasons. The simplest being that there is no demand or perceived need for your product. Sometimes we come up with a brilliant idea but it is either just before the wave of popularity strikes, or as brilliant as the idea is, there is no perceived value in the market – meaning that people don’t think they need it – even if they really do! Competition, substitutes, and pricing are also factors which impact on the success of a business.

Looking internally, business success depends equally on people and processes. Both the people in the business, and the processes running the business, need to be competent. If the people are not in the right positions, or if the systems and processes are not effective, the business will ultimately collapse.

It is most important to realise that business failure is not a personal failure. It is simply feedback from the market to tell you that something in your business needs to be changed.

This is the only way a business person can grow and mature their business when they do not succeed. In the words of Ron Holland:

“Failure can either be a stepping stone to success, or a stumbling block to defeat.”

Don’t ever let business failure defeat you!