In your first few years of business, you will learn more than at any time in your life.
Through failure and success, you will begin to change your outlook and hopefully begin creating a successful business.
But what if there was a way to achieve success more quickly?
What if you could learn how to be successful without having to make the failures yourself but instead, learn from the failures of others?
This is where we can help.
At James Hopkins Coaching, we help hundreds of business owners overcome the many hurdles and traps that come with the first few years of business.
According to UK national statistics, around 60% of all businesses will fail within their first 3 years.
It is estimated that only 25% of new businesses make it to 15 years or more.
This is caused by a wide range of problems that can occur.
One of the leading problems is financial mistakes.
Often business owners create their new company from an idea they have.
They believe that by selling their product or service, they can make huge amounts of money.
However, as they begin to make a profit, they have no idea how to actually manage the money they have gained.
One common problem we find at James Hopkins Coaching is that sometimes having too much money can be a bad thing.
The mismanagement of financials can result in bad debt, which will eventually cause the business to shut down.
Our business coaches help to teach individuals how they can best manage their profits, whilst providing them with connections to accountants and other financial experts.
Another problem that a business coach can help with, is being realistic.
Often, when we have created a product we allow our emotions to cloud our judgement.
Although we believe the product or service is great, there may be no real demand or market for it.
A business coach can provide you with an outside perspective regarding such aspects of the business.
They can then provide you with ideas on how you can modify what you have to offer or change to a new market entirely.
The third greatest problem that new businesses run into is expansion.
Whilst expansion is commonly associated as a sign a business is successful, it can actually result in downfall if not completed correctly.
Our coaches at James Hopkins Coaching can provide businesses with professional advice on how they can expand.
This includes finding the right people to hire, choosing new products to add to your portfolio and suggestions on what markets to move into.
With a business coach, you can take advantage of years of experience when it comes to expansion and as a result, learn from expansion mistakes that have been made in the past.
The James Hopkins Coaching team have a wealth of experience in various different niches, ensuring that no matter what market you want to enter we can help.
If you want to avoid the hurdles of early business years, a business coach may be your ideal option.