Business is competitive, and when a new trend comes along that gives you an edge, most jump to try it out. Some of those fads come and go, but others become tried-and-true methods that really make a difference. One method that stands out as a game changer is business coaching. It has surpassed the trend status and become an unparalleled business tool for garnering success.
Business coaching works; rather than run your business through a series of hits-and-misses, guessing at solutions to problems, and managing the whole shebang in isolation, coaching provides an expert partner who will guide and teach you.
There’s nothing wrong per say with the go-it-alone approach, but it may feel frustrating and take longer to find success.
True, you could head to a networking event or join a business group for some answers, but much of the ideas will be techniques that worked for them. By the time you sift through their results to see which might apply to your situation, there may be nothing left of the answer because it just doesn’t fit your circumstances.
Trying to work with others in the same situation may also create an unproductive, negative feedback loop. Everyone is struggling, and despite the best intentions, these sessions often sound more like commiserating than problem solving. How can someone help you fix a flat tire when their tire is also flat?
In the end, if you go-it-along, you may feel alone, an effect of the isolation that comes with the territory as sole proprietor of a business.
That’s why business coaching has grown beyond a fuzzy fad and into a real tool for business owners; you are no longer alone, and you have a competent resource for help with issues specific to your business.
Defining Business Coaching
What causes someone to become a business coach? Like any profession, there are those who see clearly and succeeded, but a few passionately believe in paving the way for those that come next. Coaches are business professionals who have already been in the trenches, scaled the highest peaks, and learned the answers. They have expertise, but they also have the kind of spirit that inspires them to share. They want to help other business owners achieve.
Coaches have discovered the magic formula: there is no magic formula! However, a coach has the benefit of a wide range of knowledge from which to pick. Coaches see clients from all industries and so they bring collective insights. They funnel this knowledge about business to your specific needs. Whereas you struggle in the mire, they see the big picture and guide you through.
Instead of an impersonal, generic business truth gleaned from a public website, coaches can delve into your issue and find custom answers for your situation.
It’s like the home-chef meets a Cordon Bleu master. Anyone can follow a recipe, but when it comes to making something special that delights and thrills, it takes an expert who instills skills and information to bridge the knowledge gap between ordinary outcomes and truly gourmet masterpieces.
Now, there’s a reason everyone can’t become a gourmet French chef; it takes years of practice, talent, and education. Surely, you don’t have spare time to devote to such a lengthy learning process, and luckily, you don’t have to with a mentor.
Like the chef-and-student relationship, business coaches reduce the time it takes to reach mastery of your business. They can make your recipe for business successful in less time and with less struggle.
Business coaches have been through or seen it all, and they know the methods that lead to success. They guide you, mentor you in these methods, teaching you the strategies that will achieve results.
While there is a cost associated with hiring a business coach, the fee becomes an investment that pays back. They dig into your business, learn your process, understand your vision, direct your practices, and establish goals in lock-step with you. You gain an expert partner who will work alongside you and for you.
What To Expect From a Business Coach
By definition, a coach is one who leads and builds your innate talents. So, like any coach, you can expect encouragement and support, knowledge and information, and practice and development.
Business coaches will do anything within their power to help you succeed; from sounding board to holding one of the reins, a business coach makes success attainable. Coaches are an instant resource for questions, a tutor for overcoming challenging obstacles, and teacher to hone your abilities.
The process starts with a deep dive into your business philosophy, the reason you’re in business. The coach will need to understand your practices and purpose. Then, a business coach works with your needs. She’ll target your goals, work backwards from the vision, and help you break down the big picture into smaller, manageable pieces. Finally, the coach will work through the process with you, establishing success strategies and mile markers.
Most importantly, the coach keeps you focused. There are so many varieties of businesses and levels of success, and competing concepts can become distractions that cloud your vision and make it difficult to see. Coaches are the lens of the microscope, allowing you to see the finer points and helping you develop the right scope of business to meet your needs.
What Services Do Business Coaches Offer
When business is faltering, it’s a vital time to bring in a coach, but it’s not the only time. Struggling business owners need relief and fast intervention, and a coach can pinpoint and redirect those flailing efforts. Whether a revised business plan or complete overhaul of strategy is in order, a coach can identify the need and lead the charge toward change.
However, thriving entrepreneurs also benefit from coaching because their business needs to maintain success, but why stop there? Coaches can help strong businesses identify any limits, push beyond, and find more success. From re-branding to new ways to disrupt the industry, a coach can help blooming success grow to new heights.
Types of Coaches
There are big and small businesses, and every range in between. So how do you choose a coach? It helps that small business coaches differentiate themselves as experts working with smaller-size organizations. While all coaches possess the qualities that allow them to work with any entrepreneur, there are needs for smaller organizations that require some degree of specialty. The small business coach has a better grasp on the unique challenges that confront business owners and entrepreneurs, and they have the expertise to guide and maneuver through those issues.
Famous Entrepreneurs Who Had Business Coaching
…And coaching is nothing new. For just about every industry, there are coaches. Everyone is familiar with sports coaches, but you also find coaches in healthcare, acting, teaching, cooking, and more.
There are many famous people who have turned to a coach for help and achieved success.
Steve Jobs, a name that resonates throughout the business world at the helm of Apple, had a series of coaches that guided him throughout his career.
Then, Steve Jobs returned the favor as a mentor to Facebook CEO Mark Zuckerberg.
The connection between coaching and success is powerful, and the world of business has long ago accepted that coaches fill in the blanks in the equation for success.
Did You Know… Surprising Business Coaching Statistics
One thing that coaching creates as a by-product is a greatly-reduced level of stress and an increased level of satisfaction with life. That may not affect your business directly, but when you are doing great personally, as a business owner, then that sphere of well-being encompasses your business.
Take a look at the impact of coaching as reported by business owners who experienced the following:
62.4% smarter goal-setting
60.5% more balanced life
57.1% lower stress levels
52.4% more self-confidence
43.3% improvement in quality of life
–And it is more than just a byproduct. Coaching has a direct effect on financials:
46% profit margin increase
25.7% more income
Common Business Coaching Questions
Q: What is the first step to hiring a business coach?
A: It all begins with a conversation. Once you locate your coach and reach out, you can expect an initial call to cover the facts: length of time you’ve been in business, type of business, location, etc. Then, you will meet with your coach and have a longer conversation about yourself and your business. In a warm, comfortable environment, your coach will listen as you describe your business at length: what do you want to achieve, why are you in business, how are you doing, and which goals you want to achieve. At this point, a coach will be able to offer reassurance about their ability to help and begin to establish their deeper understanding of your needs.
Q: How soon will I begin to see results?
A: Much depends on the circumstances of your business to determine when the results will become apparent, but as soon as your business coach engages with you, you’ll see a variety of changes. In addition to success factors, your coach will address any harmful habits, productivity obstacles, and growth limitations. You’ll see results in your organization, mind-set, and quantity of work accomplished.
Q: Is a coach good for small business?
A: Probably more than large businesses, a small business has the agility to respond to suggestions and implement change, key benefit from the guidance of a business coach.
Q: Why doesn’t everyone have a business coach if it’s such a big factor to success?
A: Unfortunately, this is a driving question among coaches because the benefits are unparalleled. Too often, it comes down to cost. Many small business owners balk at yet another expense, but that represents the narrow-vision that requires a coach’s help to expand and enlarge the scope. Coaching is an investment in your own success.
Do You Need Business Coaching?
Let me share a little about Jennifer Dawn Coaching. We love working with business owners who are proven action takers and want to see greater results.
First, we start with a free Breakthrough Session where a member of our coaching team will discuss your specific business goals. Then, we’ll match you into the coaching program that’s right for you. You’ll be held accountable for your goals and have full access to all our recorded materials and resources.
Whether it’s sales and marketing, cash flow and profitability, time management and productivity, or something else we are here to help.
Here’s what to do next…
Click the link to schedule your Free Breakthrough Session with a member of our coaching team.
I look forward to building your success together!