Bob Paden had been coaching local businesses in leadership, strategic development, planning and execution for several years when he met Lisa Hudson, president of The Growth Coach franchise.
When Hudson accepted that position, her previous job with the The Growth Coach of Carmel became open and Paden said he knew his skills and the Growth Coach organization goals were a perfect match.
“My previous work was one-on-one and The Growth Coach is more group based, so I’m able to bring in several people with different backgrounds – sales, marketing, finance and more,” Paden said. “I’m a general specialist. I know a little about a lot, but when certain topics and issues come up, it’ll come in handy to have someone with that particular specialty.”
For the past four months, Paden and his first coach partner, Angie Woods, an experienced human resources leader, have been speaking with the Chamber of Commerces in Boone County, Zionsville, Carmel and others throughout Boone and Hamilton counties.
Their goal is to give tools to business leaders in the community and support positive economic growth.
Paden said most start out with the question of how to not become a statistic.
“From an owner’s standpoint, their number one issue is workforce; how to do what they do without people or with the people they have. They might have high turnover or tough clients,” Paden said. “And of course, the first issue with failure is simply the lack of cash.”
He works with business owners who get stuck — stuck in the business they dreamed about, but unable to get out and live a healthy work/life balance.
“We call it imprisonment,” Paden said. “You are literally imprisoned by the business you created. They have to stay on the treadmill because if they get off, the business will collapse because it can’t function without them and it’s so painful.”
Paden said to truly grow a business, owners have to figure out how to get themselves out of it. It’s nearly impossible to sell your company if they have to hire the owner to make it work, he said.
Nine out of 10 businesses for sale are rejected and the one that is bought usually sells for less than what the owner felt it was worth, Paden said.
“The business has to be sustainable on its own and we’re seeing a lot of boomer generation people out there that have banked everything they have on this business. They thought it was worth $2 million, but it’s actually worth $25,000,” Paden said.
Paden and a team of other coaches are setting out to help those struggling in the business world and plan to keep spreading healthy business practices.
“It’s the ‘a-ha’ moments that get me up in the morning,” Paden said. “Watching them transform. You may provide a tool, some information, a good referral — whatever the initial challenge is, it’s getting them over that hump.
“It’s very rare for a business owner to have any balance whatsoever, but to help them get that good work/life balance back is a really nice thing.”
The Growth Coach team will be speaking at a Lunch and Learn event from 11 a.m. to 1 p.m. Sept. 4 at Old National Bank, 385 S. Main St., Zionsville. Cost is $50 per person and anyone in the business community is invited to attend.
Visit the websites at www.eventbrite.com/o/the-growth-coach-of-north-indianapolis-23080447049 or https://www.thegrowthcoach.com/north-indianapolis for more information on upcoming events and tools to use in your business.