PRESIDENT’S MESSAGE: Starting your own business — it is still one of the American dreams open to all of us. But how do you start a business? And what is its chance for success? Can a business coach help you?

I decided to ask these questions, and more, to

Bob Bremm, business coach and founder of AdviCoach. The answers I got were so interesting I decided to share them with you (normally I pick on politicians this week, but don’t fear, I’ll get them next week instead).

According to the Small Business Administration, 30 percent of businesses fail in the first two years, 50 percent at five years, and 70 percent after 10 years. Why does this happen? Common threads include insufficient or no business plan, poor management/ leadership, poor accounting, lack of planning, and/or the business was created for the wrong reasons.

As a business starts to falter, the normal human reaction is for the owner to work harder, work longer hours and incur more debt. Though a noble approach, this rarely addresses the underlying problems and only prolongs the inevitable result. However, there is an alternative: An owner can engage a professional business coach.

A good coach helps an owner work on the business instead of just slaving away in the business. The coach does not do the work for the owner, but instead — through coaching, teaching and mentoring — helps the owner become more proficient in three key areas (1) Awareness: Of the business possibilities, (2) Education: In good businessbuilding practices, and (3) Accountability: In achieving peak performance.

According to Bob, business coaching is similar to the proverb, “If you give a hungry man a fish, he eats for a day; if you give him a fishing pole, he will eat for life.” Coaching is not a product but instead a process. As such, coaching sessions are often weekly, either in person or on the phone. During the session, the previous week’s work is reviewed (for accountability) and the next week’s plan is developed and explained (for awareness and education). As the process progresses, the owner experiences great personal growth and should see tangible business results in three to six months.

A common myth is that business coaching is for troubled businesses. Though true, coaching is also valuable in helping good companies reach the next level. Many times, owners that reach a plateau are highly motivated to improve. They just do not see the path on how to progress. A business coach can guide them to greater success.

As an owner comes to understand the value of business coaching, the lament of “I don’t know if I can afford to do this” becomes “How can I afford not to do this.” If an owner retains a good coach and dedicates themselves to the process, then this statement should always become true.

I will also tell you a little secret — I decided to visit a business coach last year. Although it wasn’t Bob at AdviCoach, I can tell you that he did an awesome job helping me in a couple of areas over the three months I worked with him. When the time comes, I will absolutely look to him again to help bring me to the “next level.”

I invite you to visit the chamber’s website and look at Bob Bremm’s profile, as well as the other life, job, and business coaches. These folks can help you succeed, and I can attest that it is money well spent.

UPCOMING EVENTS: The chamber’s Government Liaison Committee is sponsoring two “Meet the Candidates” events. The first is Thursday, 5:30 to 7:30 p.m., at the Topsham Public Library, Foreside Road. Hear remarks by candidates for Maine Senate District 19 (Bath, Phippsburg, Georgetown, West Bath, Richmond, Topsham, Arrowsic, Bowdoin, Bowdoinham, Dresden, Woolwich) and Senate District 20 (Edgecomb, Wiscasset, Westport Island). Hear candidates for House Districts 60 (Topsham), 62 (Bath), 65 (Woolwich, West Bath, Bath, Woolwich, Brunswick, Topsham), 67 (Richmond, Bowdoin, Bowdoinham), 53 (Dresden, Wiscasset), 51 (Edgecomb), 61 (Georgetown, Arrowsic, Westport Island), 64 (West Bath). All candidates have been invited.

The second “Meet the Candidates” event is Sept. 17, 5:30 to 7:30 p.m., at the Morrell Meeting Room, Curtis Memorial Library, Brunswick. Hear remarks by candidates for Maine Senate District 10 (Brunswick) and Maine House Districts 63 (Brunswick), 64 (Phippsburg, Harpswell and West Bath), and 66 (Brunswick).

MEMBERS IN THE NEWS: SMMC welcomes Bar Harbor Bank & Trust to its membership, and Hatch, an antique shop on Orr’s Island. To discover more about these businesses, go to www.midcoastmaine.com.

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