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How a great coach accelerates your journey to success

14th Feb 2024
Brought to you by
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Are you running an accountancy practice? Or is it running you?

AVN helps you to take back control of your practice.

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Have you found this content useful? Use the button above to save it to your profile.

When you’re in the thick of running your practice, it can be hard to get a clear perspective. Especially if you’re looking to grow or improve profitability and efficiencies. AVN’s Shane Lukas explains why he believes a coach can help – but only if it’s the right kind of coach.
  

How a great coach accelerates your success - AVN Inspiring Accountants - yellow word coaching on blue background
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Many accountants feel stuck in a rut. You keep on doing things the same way, day after day, unable to see how your practice could grow, or be more profitable or more fulfilling.
 
This is where having a coach can make all the difference.
 
First, it’s important to clarify what a coach does. The terms mentor and coach are often used interchangeably but I think they are actually quite different. This is my take on what those terms mean.

The difference between a coach and a mentor

A mentor is someone who’s been there, done that, and got the t-shirt. They’ve experienced the pain, overcome the challenges and gained a wealth of experience in the process. This means that they can fully relate to your situation and also give you suggestions on how to improve it. 
 
To my mind, a great coach helps you develop your thinking and your mindset. They aren’t afraid to ask the questions that might seem obvious, but all too often you just take for granted. They stay open in their questioning, refuse to cast judgement and stimulate thoughts that you wouldn’t have come up with on your own. They enable you to find the solutions yourself. Even if they have the same knowledge as a mentor, they won’t give you a solution that comes from their experience. Their focus is on helping you to discover and develop your own way through the issues.

How a great coach helps you

It can be lonely when you’re the one in charge. A great coach provides a dedicated space and a sounding board for the thoughts and ideas you can’t share with others within the business. That objective viewpoint is essential to help you challenge assumptions and make more informed and strategic choices.
 
What’s more, a great coach holds you accountable. It's easy to get bogged down in day-to-day tasks, leaving strategic planning and growth initiatives on the back burner. A great coach helps you define your goals, plan out how you’ll achieve them and then holds you accountable for staying on track. 
 
As someone who both has their own coach and also coaches other people, I am obviously biased! But I’ve seen what a huge difference it’s made to the accountants we work with at AVN. 

A holiday of a lifetime made possible

 For example, one of our AVN members, Neel, wanted to take his whole family on a once-in-a-lifetime holiday before his eldest left home. 
 
To make it happen, he had a goal to earn an additional £10k per month from consultancy work over six months. Working with his AVN coach he explored how he would earn these additional fees and came up with an action plan. His coach held him accountable, tracked his results and boosted his confidence with regular coaching sessions. 
 
And he did it! What’s more, he didn’t come back to a mountain of work because his coach had also helped him get in control of his workflow.
 
I think that’s the true value of a great coach – they don’t prescribe, they simply listen to what you want to achieve and help you make it happen.
 
 
To find out more about the way AVN supports accountants, why not join Shane’s upcoming webclass – How to progress the accounting business growth journey