A Good Coach is a Nonnegotiable for a Business Startup

In a recent survey, IBEC Ventures reported an important finding: 42% of the respondents said that they regretted not starting with a coach. One said, “If I had to do it over again, I would start with a coach.”

In business, the importance of a coach cannot be overstated. It is true in most aspects of life, so why not in business?

  • I had a coach as I learned to walk, my mom.
  • I had a coach when learning to ride a bicycle, my dad.
  • I had a coach playing ice hockey in high school and college, George.
  • My college roommate, John, coached me through my first dates with my wife.
  • Ray was a mentor in college, who coached me through some tough times.
  • I had a coach while student teaching in Queen Anne High School.
  • I had a coach when learning the Portuguese language, D. Joelcila
  • Joe coached me when I became the principal of the Amazon Valley Academy.
  • When in Grad school, I needed a coach to help me plough through statistics.
  • When I started IBEC, Bob coached me through many details.
  • When traveling overseas to Asia with IBEC coaches, I was mentored by Ken.
  • My wife coached me in how to be a better husband and father.
  • And on … and on …

Yes, I have needed coaching all my life and perhaps you have also.  Why wouldn’t one have a coach when starting a business?  Especially when the likelihood is that I would fail.1   The reasons for having a coach are obvious to many, but to others not so much.  But think about it!

  1. Courtney Mills, Founder of Sinapis in Kenya, affirms that management capability is the biggest need in the BAM startup world and is a prerequisite to capital. There are two ways to capability – God-given talent and coaching.
  2. Steve at XYZ Manufacturing in China mused to me one day, “I wish I had some training and coaching when I first started.”
  3. Corey in India said, “IBEC has given us the tools to be successful … they have helped us to understand … our mentors really helped us.”
  4. Matt, a successful BAMer in Asia, credits mentoring and coaching in college, on an internship in the Ukraine, and on the job in China. Coaches helped immensely with his personal and business decisions.
  5. Kerusso, a steel drum band in Brazil has become sustainable in all aspects of the Quadruple Bottom Line due to the faithful mentorship of founder, Chris Hewitt, something mentioned by every band member I talked to.
  6. Quinn Neely, Co-Founder and CEO of Kijani Forestry “It’s been really amazing to talk through all of the logistics and the structure of the organization.  IBEC just really helped and guided us.”
  7. Dan Brizola, as Co-Founder and CEO of Snowman Labs in Brazil, affirms the value of coaching, “I praise the Lord for IBEC Ventures.  Their unconditional support, mentorship, coaching, and last but not least, their prayers have helped me and Snowman Labs evolve a lot and to grow throughout the entire year.”
  8. Joel Ballew, Co-Founder and CEO of Co.Labor in Colombia says, “We thought we had a great idea and we thought we had some refined details but at the end of the day, these guys came alongside us and just really honed in on what we were doing and how we make it effective for ministry, but at the same time be an effective business that is efficient and profitable.”

Need some time-tested reasons for needing a coach? Check out this blog which pretty much is aligned with standard reasoning for the value of coaching.  You have the advantage if you have a good coach.

https://ibecventures.com/blog/seven-reasons-why-everyone-needs-a-coach/

1. What Percentage of Startups Fail? [67+ Stats for 2020]

Larry W. Sharp, BAM Support Specialist, IBEC Ventures
Larry.Sharp@ibecventures.com

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