Insight on Coaching

Coaching for Entrepreneurs

Season 4, Episode 5 - Air Date: August 27th, 2007

Audio File - Length 55:20, File Size - 12.6 MB

A new study sponsored by The Entrepreneur’s Source finds 5 universal reasons why businesses fail no matter what their size. They are:

• Poor financial management
• Mismanagement of human capital
• Pursuit of projects that are incompatible with resources and capabilities
• Underperforming sales people
• Lack of communications leadership.
  

On this show Tom interviews guests who have successfully guided entrepreneurs in the past, focusing on how coaches can help entrepreneurs overcome their blind spots, see the big picture and improve their overall performance.

Guests

• Andrea Garfield, Entrepreneur, Advisor, and Coach
• Patricia Kelly, President and CEO, Limerick
• Terry Powell, Founder and CEO, The Entrepreneur Source
• Paul Williams, Strategist, Business Consultant, and Coach

Summary

A 2004 report by the Small Business Administration (SBA) on Entrepreneurship in the 21st Century found that small businesses will play a major role in shaping this century’s economic landscape. However, according to a 2005 report from the US Bureau of Labor Statistics, 45%
of new independent business ventures fail within two years of opening.

Many of us have dreams of running our own businesses and taking more control of our destinies – but what does it take to be successful?

And how can coaches who specialize in entrepreneurial development and growth help us realize our dreams?

Our guests discuss how coaches can guide entrepreneurs in both running their businesses and dealing with the challenges that come up along the way.

Highlights of the show include:

• How coaches can work with entrepreneurs to avoid financial mismanagement.
• The importance of outsourcing in helping entrepreneurs manage their business.
• How coaches can counsel entrepreneurs who may be pursuing the wrong endeavors or projects.
• How coaches can help entrepreneurs deal with the symptoms and signs of stress.
• The importance of social networking in an entrepreneur’s success.
• The resources and tools that can help entrepreneurs network and grow their businesses. 

This podcast is part of the Insight on Coaching series. For additional information, visit the Insight on Coaching Home Page.