Why Group Coaching Can Be Your Business Tool For Success

Why Group Coaching Can Be Your Business Tool For Success

Now more than ever, small businesses are booming across Australia. Against all odds during the pandemic, the number of businesses entering the market went up by 3.8% in 2020. From tech firms to clothing stores, over 360,000 businesses opened their doors during this strange time.

But that’s only one part of the story. The number of businesses closing their stores increased as well. Over 275,000 businesses exited the market during 2020.


The Causes for Failed Businesses

While every business owner dreams of establishing a successful business, it’s evident from the numbers above that that is not always the case. Failed businesses wound up making the same mistakes due to:

  • Lack of funding

40% of businesses struggle to manage their cash flow. As such, business owners fail to keep track of their spending and profits. That often leads to an over or underestimations of profits which jeopardizes businesses.

  • Poor planning and execution

44% of businesses struggle with managing the many aspects of their enterprise. Unfortunately, many businesses fall short in developing and executing effective business strategies.

  • Inexperience managing a business

Running a business requires balancing a multitude of tasks. Hiring, finances, purchasing necessities, the list goes on. Lacking the knowledge or experience of running a business often leads to feeling overwhelmed.

The Solution: Group Coaching

The problems listed above can be solved with the benefits of group coaching. While one-on-one coaching has its benefits, group coaching offers a unique experience. Whether you have 0 years of experience or 20 years in the industry, anyone can benefit from group coaching.

In group coaching, you’ll be taught alongside a group of like-minded and business-minded peers, many looking to jumpstart or advance their business. Not only are you learning from your business coach, but you’ll also have exposure to different perspectives from other business owners. Through discussion and structured group activities, you will walk away with feedback and a supportive network necessary to achieve your business goals.

Below are just a few of the benefits related to group coaching.

  • Increases your business network and encourages the development of relationships among business-minded peers.
  • Expands your knowledge and resources relating to managing a business and solving complex business problems.
  • Keeps you accountable to achieve your business goals due to the consistent workshops with your group coaching team.
  • Increase your communication, teamwork, and problem-solving skills: all necessary as a business owner.

At Strategiq, we want our clients to minimize their losses and maximize their success and wealth. Our 6-month group coaching program keeps you and your business in check by meeting three times a week for our business coaching workshops.

By learning invaluable skills, gaining support, and expanding your network through this program, you can grow your profits by 3X. Learn, listen and embrace the magnitude of resources and information you can directly apply to your business. Sign-up on our website for an initial free consultation and join your like-minded peers in our group coaching program!