What Can A Business Coach Bring to Your London Based Business?

While most entrepreneurs in London prefer to keep the information regarding the development of their business to themselves, it doesn’t go without saying that opportunities abound for business owners, investors and chief executive officers who seek business mentoring for a sound start or the further development of their business. Continue reading to find out how a business coach can help with your London based business.

Most business operations differ based on sector, rules, regulations and the environment. However, one common unifier among all businesses is existing principles that help shape the affairs or decisions taken by the management of such a business.

The focal point of this piece is to espouse some trade secrets of how business tycoons can further succeed in diverse sectors they specialise in London. To achieve this, a Business Coach will be defined, the advantage of having a business mentor as a business owner and some of the difficulties entrepreneurs experience in doing business in London.

What Exactly is A Business Coach?

To begin with, a business coach is an individual who has garnered years of experience in a business or similar one which can be of help to an entrepreneur who’s just starting out in business or needs advice from someone who has been in a similar scenario and possesses the required wherewithal to navigate the challenge at hand.

While some business coaches operate platforms on a free basis, some require prospective entrepreneurs to sign up on their platforms. Some others operate strictly on a commercial basis where they charge business owners for their services. In terms of communicating with a business coach, there are quite a number of ways; they include telephone communication, exchange of emails, text messages, Whatsapp, Skype or face to face means of communication.

A business coach is an individual with vast experience and knowledge in business, who has the capacity to offer solutions to certain problems entrepreneurs encounter in business based on his level of experience. A business coach, on the other hand, is usually a business savvy individual who is capable of offering varieties of solutions to problems you may encounter as a first timer in the business terrain or either an old hand who’s making a move into a new career phase or investment.

Difficulties Entrepreneurs Face When Doing Business in London

Like in other climes, London is not any different regarding familiar challenges that business owners encounter in order to engage in day to day transactions successfully. Below are the challenges experienced by business owners in setting up businesses in London.

Registration of Business: This is one of the biggest challenges experienced by most business owners in London. This is because while it’s almost so easy to establish a business, in terms of days which is usually about 2 days; it might take about to two weeks for such business to take off due to registration and documentation issues with government bodies such as Her Majesty’s Revenue and Customs (HMRC) and PAYE (pay-as-you-earn). All new companies relocating to London are made to fully disclose their account by the registrar of companies, with a particular amount charged but the processing is quite arduous.

Brexit: Britain is currently in the transition stage of its plan to sever ties with Europe, and a plan to leave by 2019, if the exit includes barriers to trade relationship, this will spell doom for the economy of Britain. It would also make the documentation process of registering a business difficult.

Property Registration and Permits: The challenge of acquiring a permit for properties is one of the issues of doing business in London like some countries. The most costly and challenging part of procuring permits from authorities is usually for water and sewage system. It becomes more tiring in deciding to register for a property and starting a business in London. It is believed to take about three weeks to get approval which can be difficult.

The help of a business coach in London will surely come in handy, as such coaches often have years of experience and are experts in diverse sectors, which comes in handy for entrepreneurs facing some of the above problems.

Advantages of Using an Expert Business Coach In London

As the popular saying, “Two heads are better than one”.. Let’s rephrase it for the purpose of this piece to “Two good heads are better one”. This statement rightly emphasizes that as a business owner, it’s usually not easy to make important decisions that affect the productivity and growth of your business in isolation, because when you begin to take wrong decisions, the resultant effect of such actions takes its toll on your business. This leaves nothing but a setback and in some cases, the financial loss for your company.

In most big corporations, there’s usually the existence of a hierarchy structure, where the chief executive officer(CEO) or Managing Director(MD) has to give a report on the progress of the business to the Chairman of the company or its board of directors. It’s usually not the same story in smaller organisations as most business owners or CEOs do give a progress report about their business to anyone as they take charge of events solely by themselves.

Opening up on the status of your business to a business coach has quite a number of advantages. They include receiving fresh insights on how to increase or innovatively create ideas that will help shoot up your business in the industry. When you talk to a business coach, chances are that most of the things you didn’t know about operating your business will become clearer based on the revelation of someone with much more experience than you possess.

Finally and most importantly, the primary aim of every business owner is to make a profit and avoid losses. However, this can only become a reality when you sort for a good advice especially before embarking on huge financial investments that are capable of making or marring your business or the entirety of your career. This is another aspect a good business coach will rise to your aid in assisting you to make the right and important financial investment.

Let us help you create a more profitable & sustainable business.

Email: [email protected] now to arrange your complimentary FREE 30 minute Business Strategy Session, where we will help you identify at least 5 ways to solve your most painful problems & improve your business.