A study commissioned by the Department for Business Innovation and Skills across a wide range of different business sectors identified different entrepreneur ‘types’ according to criteria such as business acumen, experience in their chosen field of business and their general motivation. The overall aim of the study was to examine why someone decides to go into business for themself in the first place but it is also interesting to think about which categories different owners fit into.
They identified four distinct types of business owner –
Older opportunists using existing skills
Consistently self-employed
Business-from-scratch: competent / experienced
Business-from-scratch: no experience
So – to the question of which type would benefit most from business coaching, I would suggest they all might but the different categories need particular types of coaches. If you are in one of the fast growing ‘young’ sectors like non-alcoholic beer production, medical cannabis or virtual reality tech, then most likely you need an early stage business coach who can help it grow, put systems into place and make sense of some of the boring but necessary aspects of trade.
For the mature business, which already generates cash and whose owner may be thinking about retirement, a business consultant who can help prepare the company for sale and maximise the sales price would be more useful. Of course, most business owners have a mix of support requirements but thinking about which category fits you best is helpful for planning your entrepreneurial journey and identifying your specific needs.
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