Coaching for Startups: Ignoring These Tips Will Cost You Time and Money

Technically, any new business is a startup, but the term implies funding, growth, and innovation.

According to the Progressive Policy Institute, the American startup ecosystem is the world's envy, playing a critical role in the growth of our economy because they offer the highest potential for job growth.  

The startup boom, which started almost thirty years ago, is now spreading like wildfire across the country. Even after coming out of a devastating pandemic, there has been a steep rise in the creation of new businesses.

And with a steep rise in startup creation, there is an increasing demand for experienced startup coaches.

We’ve talked about how startup founders and new business owners everywhere are an important part of a healthy economy. Here at CoCaptain, a big part of our business coaching mission is to help those entrepreneurs be the absolute best they can be.

So we gathered these 9 tips from our business and executive coaches at CoCaptain to help get you started and avoid as many roadblocks along the way.

Business and Executive Coaching Tips

1. Just Do It.

Starting is the first step in doing anything, and it’s maybe the hardest step of all. It’s the step that involves courage and faith in yourself, especially as first-time leaders.

When trying to materialize a dream or vision in your head, you can easily find a million reasons not to do it—from where you’re standing, the leap into entrepreneurship seems much too big.

That’s why it’s important not to overthink the leap and begin one small step at a time. Start making progress in small increments by creating lists, plans, and tasks that are conceivable. Once you begin to see it on paper and begin to undertake and successfully complete tasks, that’s when you begin to inch closer and closer to your goal.

2. Be a Mad Scientist

Your business is “your baby,” and because you’re protecting your baby, it’s easy to become resistant to change.

However, resisting change can result in limiting growth. As the leader of a startup, your job is to constantly experiment. Test and retest the best marketing solutions, sales strategies, and product enhancements to land on the best possible solutions for your customers and to create organizational success.

3. Fail Fast

Things will not go perfectly; that's a fact.

There will be bumps in the road and setbacks that you may perceive as failures. There might be a deal that never materializes or a product that fails to launch, but you should learn to move on quickly after things go wrong.

The faster you move on, the faster you can get back to focusing on your overall quest.

4. Build Your Own Path

Yes, there's a lot to learn from other successful startup founder's paths to success—their strategies and behaviors that led them to the top.

But don't be discouraged if your path looks different—their strategies might not align with your vision.

So don't compare yourself to others; instead, carve out your own unique path, have faith in it, and follow it diligently.

5. Don't Go at it Alone

It's important that founders recognize that we all have weaknesses, blindspots, and low points in our careers. And refusing to seek help on any issue you are struggling with is never a sign of strength; in fact, problems that are not adequately addressed can snowball into catastrophes for your business.

Be sure to build a startup team of key employees that complements each other so that your startup is led by individuals with a diverse skill-set that are each exceptionally apt at solving a wide range of problems.

And if you want a partner that will be intimately involved to push you forward, point out blind spots, act as a valuable sounding board, and work on your weaknesses, a business coach can be one of the most valuable investments you can make as an entrepreneur and startup founder.

6. Be a Decider

Thinking things through and analyzing a situation before moving forward is a smart way to run any business.

But it's important for startup teams and startup founders not to get stuck analyzing data and options. It can be paralyzing and prevent you from moving forward when you need to.

Learn to make decisions quickly, trusting your intuition as well as analyzing and remembering that not everything is set in stone. If you make a wrong decision, you can learn from it and find a way around it.

7. Listen to Your Customers

Yes, you have a responsibility to educate the market about your products and services.

Your vision should accurately inform your marketing strategy, but it can't be all that guides you.

You will move forward faster and with greater permanence by diligently conducting qualitative market research as part of your marketing budget.

It's an investment that will go a long way when you are able to incorporate the "voice of the customer" into your products and services.

8. Be an Expert at Something

It's hard to be good at everything, and when you're trying to be an expert in everything, it's probable that nothing will be done satisfactorily.

Holding yourself accountable to be an expert at everything is unrealistic, results in significant personal/job dissatisfaction, and ultimately, won’t work for your business.

So, what do you do better than anyone? This is your superpower!

Identify what you are an expert in—on the business side of things and in what you offer your customers. Leverage your expertise in everything you do to maximize your own potential and effectiveness.

9. Pace Yourself

If you’re an entrepreneur and/or you work for a startup, it may feel like there’s never enough time in the day to do all that the business requires.

It's easy to get tunnel vision and prioritize your business above all else; the problem with doing this is that you forget to dedicate time to your health and wellness and when your health is compromised, it can be very difficult to do your job well.

Pace yourself, don't forget to check in with your mental and physical state. Start with making sure you are consistently getting proper sleep.

Staying up late and finishing up extra work is counterproductive; without the proper sleep, you won't be able to process new information and effectively tackle your day's tasks.

Engage with a Business or Executive Coach for More Coaching Tips

Entrepreneurs face challenges that are specific to the nature of their industry. Challenges will pop up in different ways from the start of a career all the way to retirement, and no entrepreneur—no matter how successful— is immune to them.

Following these tips will prevent many challenges and help you overcome many obstacles, but nothing can beat the one-on-one help that business or executive coaching can offer.

At CoCaptain, we want to encourage entrepreneurs, startup founders, business owners—at whatever stage of their career— to get the individual help and guidance they need from valuable coaching sessions to become wildly successful.

What tips have been the most helpful in your career? And if you think we missed some important tips, share your own! Join the discussion below: