1. Many business owners lead their companies with little to no accountability, unlike other employees who undergo regular performance reviews. 2. While owners deserve credit for founding their companies, they are not infallible and could benefit from someone to hold them accountable like a coach. 3. A business coach can help owners lead rather than just manage, ensure they are held accountable for goals, provide an objective perspective to vet ideas, and act as a form of business asset insurance to help the company retain its value.

1. Business owners need to be accountable, too
By Pat Doody on July 23rd, 2014 | Comments (0)
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One of the more puzzlingandprecariousrealitiesabouthow ownersleadbusinessesthese daysis
the vast numberswhodoso withlittle tonoaccountability.Everyotheremployee is subjectto
scrutinyandperformance reviews.Exceptif you’re the companyking,The Boss.Butisthat truly
viable andsustainable?
Kudosare certainlydue toownersforhavingthe smarts,vision,courage andstaminatoownthe
company.Many of youactuallyfoundedit.Congratulations.Butownerswouldreadilyadmitthat
nothingautomaticcomeswithownership.Infallibility,impeccable judgment andvital leadership
skillsare not“bundled”withthe ownershippackage.Andwe all espouse the wisdomof continuous
improvement— forour staff.
It justdoesn’toccur tomany of us ownersthatwe needsomeone toholdusaccountable.It’san
honestmistake.Afterall,we are accountable everydayinsomanywaysto customersand
employeesandmarketforces.We’re constantlyhavingtoperformtokeepourcompanyviable and
yetthe vast majorityof us don’tthinkwe needsomeonetoanswerto.
Why shouldownershave acoach? Well,here are six reasons:
1. Less managing,more leading:It’sdamn hard to leada company;the companykeepsgetting
inthe way.So docustomersand employeesandcompetitors.It’sjustaboutall anownercan
do to keepthe shipafloat.Somuchto do. But who’snavigatingwhile you’re doing?Who’s
leading?Itdoesn’tmatterhowwell the shipissailingif youhaven’tchartedthe destination.
Coachescan helpmake sure we ownersare leading,notjustmanaging.
2. Accountability.Who callsyou on the carpet whenyoufall shortof revenue orprofitgoals?
Or those sightsyousetin yourstrategicplan?Shouldn’tyouspecificallybe heldaccountable
for that?Who doesthat? Most of us small-businessownersdon’thave boards.Andwhilewe
might“beatourselvesup”privatelyforfallingshort,how oftendoesthatsolve the problem?
3. Letting your guard down. Whom doyou talkto whenyou’re thrashingaboutwithnoanswer
or, worse yet,feelinginoveryourhead?Youknow itcan’t be anyof youremployees.Maybe
it’syour spouse whoprobablyisqualifiedtocomfortyoubutnot advise you.Ormaybe it’s
that brother-in-law whomyouventtotwice ayearat the 19th hole.But,while comforting
and familial,are those strategic,directedconversations?Andis there follow-uptothese?
We all have vexing— evenfrightening— issuesandepisodes.Coachescanhelpsolve these
withusuallymore objectivityanddetachment.
4. CallingBS on your thinking. So,how manyhalf-bakedideashave youhadthatnobodycalled
youout on? Howmany of your staffershave the confidence andjobsecuritytotell you,the
emperor,thatyournewclothesaren’treallythere?We usuallyhave the oppositeproblem.
Too many“yes men”agreeingwitheverythingwe say.We know we’re notright all the time.

2. We hope we’re rightwaymore oftenthannot.A coach can call “a spade a spade”at those
timeswhensubordinatesreallycan’t.
5. Soundingboard. Youhave a lotof goodideas.Some are on theirwayto beingfullybaked,
great ideas.Butif you’re reallyhonestaboutit,you’re notalwayssure they’regoodideas.
And,manyare missinganingredientortwothat keepsthemfrombeinggreatideas.An
outside perspectivefromanexperiencedpeerisaninvaluableingredienttosuccessfulidea
generation.Mostof yourgood ideascan be bakedevenbetterwiththe helpof aqualified
kibitzer.
6. Assetinsurance. If you’re like mostof us,your businessisprobablyyourmostvital asset
withregardto your currentand future financial security.Ibetyouhave life insurance,long-
termhealthcare,and homeowner’sinsurance.Youmayevenhave key-maninsurance which
protectsyourasset inthe eventof yourdeath.But whatprotectsyou fromyour business
dying?Do youhave businessassetinsurance?A coachis a formof businessassetinsurance.
A coach can helpyoumake sure that assetretainsitsvalue,soyouget yourultimate
rewards.
So,why doso many smartownersnot have coaches?My experience suggestsitderivesfromtwo
things:affordabilityandlearned behaviour.
Yes,coachescost money.Moneyyou’re notcurrentlybudgetedfor.Butsuccessful coachingusually
provesto be a smart investment,notanexpense.If it’strulyasmart, prudentidea,thencanyou
reallyafford nottodo it?
The biggerimpedimentislearnedbehaviour.While advancinginourcareers,the majorityof us have
neverhadan ownerwhohad a coach. Most of us saw himas being“free”fromhavinga boss.Not
havinga bosswas anothersignof success,intelligence,leadership,visionandwealth.We aspiredto
be that guy.Now,we are.
Coachesare an invaluableresource forustocontinue tobe that guy. The smartestleadershave
workedthroughthislearnedbehaviourandfiguredoutthattheyneedacoach. Inother words,
they’ve learnedthatthey’re notthe smartestguysinthe room.