The decision to invest in business coaching depends on the current situation and future goals of the business.

Both perspectives mentioned here can be correct given certain circumstances; let's dive a bit deeper:

Ø  Do I first need cash before investment in business coaching?

If your business is in a critical financial situation or startup phase where any available cash must go towards immediate operational costs (paying rent, wages, inventory, utilities), then you may need to delay the investment in business coaching until you have a bit more financial stability. In such a case, short-term survival can take precedence over long-term strategic improvement. Unless of course you want to invest from outside your business to accelerate development.

Ø  Do I need to invest in business coaching to improve my cash flow situation?

On the other hand, if you're struggling with strategic issues like efficient cash flow management, pricing your products/services, marketing strategy, or overall business direction, an investment in business coaching could be what you need to turn things around. A skilled coach can help identify issues in your business model, suggest changes, build a practical growth plan, and more importantly, hold you accountable to this plan.

It's worthy to note that while business coaching can often lead to improvements, financial and otherwise, it's not a silver bullet. It's a process that demands time, hard work, and a willingness to make changes.

Effectiveness of a coaching program also highly depends on the business owner's commitment to learning and implementing suggested changes, and the competence of the coach.

So, before making a decision to invest in business coaching, assess your current financial situation, identify your knowledge-gap or what you might be struggling with, and consider if improving these aspects with coaching could better your financial situation in the mid to long term.

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