5 secrets of business coaches to entrepreneurs in years 3 to 6

An entrepreneurial endeavor is a long and winding road with many speed bumps in the way. You start with developing the idea, move onto planning, then finally make it to launch. The work is far from over, though. After you get your idea off the ground, it’s important to keep the momentum growing.

Did you know that half of new businesses don’t last five years before exiting? That’s why it’s essential to determine how to keep growing after your profits or growth have plateaued just a few years after launch. Business coaches can provide plenty of insight into how to push through the years that can make or break your business.

We’ll discuss why a business coach is essential during years three to six of your business as well as business coach secrets that can help entrepreneurs push through those pivotal years.

Why business coaches are important during years 3 to 6 of a company

Building a company now is all about looking toward the future, and a business coach can help with that.

In the Entrepreneurial Operating System^®, we utilize the Vision Traction Organizer™ (VTO™) so that your entire team can get on board with your company vision. It’s made up of eight questions that help you define your company’s values, core focus and objectives. These questions help you set goals that all work toward your 10-year target. But halfway through the time frame of that target come the vital years. That’s where a business coach can offer tremendous value.

It can take several years before you start to see a profit. Many businesses start to see significant progress after year three. But for many, that progress only lasts a couple of years before it starts to level out or even decrease. A business coach can help you see your strengths and weaknesses, walk you through issues, and strategize for future success to push past the five-year turning point.

Year five can be sink or swim. The good news is that there are many business coach secrets that can push you over that hump, onto year six and beyond.

5 business coach secrets to help entrepreneurs push through years 3 to 6

The five-year milestone in a company is a huge accomplishment, but it’s also where the weaknesses become more evident. Perhaps you’re experiencing high employee turnover or your marketing strategy has become stale. With insight from a business coach, you can make it to years three and four, get over the five-year hump, and push through year six. That way you can keep your eyes on the 10-year target.

Here are five secrets from business coaches to entrepreneurs for years three to six:

1. Stay adaptable — No matter what industry that you’re in, it will continue to evolve as time goes on. Aspects like the technology, target demographics and marketing tactics will look different in year one than they will in year three, let alone year six. That’s why it’s important to stay on top of industry trends and implement necessary changes to adapt.
2. Raise expectations — When you start a company, you try to keep your expectations high. But as time goes on, it’s not uncommon to stick to a familiar rhythm and never shake things up. One of the main reasons that businesses start to struggle after a few years is because they get too comfortable. It’s important to continue raising your expectations so that your team never sticks to the bare minimum.
3. Revisit your VTO — A VTO is not meant to be tossed aside as soon as you see progress. You may get so caught up in current issues and projects that you forget the values and vision that you built your business on. It’s important to remind your team about the collective goals that are outlined by the VTO so that your business doesn’t lose sight of its identity.
4. Open line of communication — One of the key elements of a successful business is open communication with your team. Your employees may be seeing issues that you’re not privy to, or they have ideas for a way to break through the growth ceiling that you’re struggling with. Be sure that you encourage your team members to voice their concerns and ideas.
5. Gain feedback — A business can’t survive without customers or clients. If you’re struggling to reach new customers, or retain new ones, ask the people you’re selling to why that may be. By gaining honest feedback from your clients or customers, you can look at your strategies from a different perspective and see how you can improve their experience. Not only can it help you learn how to grow and change, it also proves to customers that you have their best interest at heart.

EOS Worldwide has business coaches to help entrepreneurs through the pivotal years

Every year in a business is important. While we would like to think that there will be continued growth and development year after year, that’s just not realistic. With the insight of a business coach, entrepreneurs can push through rough patches that they may endure a few years after launch so that they can continue working toward their long-term goals.

Contact me today for more information about implementing EOS^® into your business or to schedule a free 90-minute meeting. I’ll happily send you the book Traction for free.