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If you’re thinking about hiring a business coach, you’re already on the right track toward achieving greater success in your business journey.
Business coaching is an increasingly popular choice for entrepreneurs, executives and small business owners who want a competitive edge, but understanding what a coach does and how they can benefit you is key.
Below, I’ll answer the most frequently asked questions about working with a business coach and how to find the best fit for your needs.
A business coach is a professional who helps entrepreneurs, business owners and executives improve their performance, set and achieve goals, and grow their businesses. Think of a business coach as a partner in your success who offers support, accountability and practical guidance for overcoming challenges and capitalizing on opportunities.
Business coaching helps individuals recognize their own value, establish and execute plans, keep them accountable, and prepare for profitable growth. I like to say that a business coach should help you with the “how” of building your business. You may already know “what” you need to be doing, but where to start and how to get there is where many business owners get stuck.
Even the most successful business owners benefit from outside guidance. A business coach provides objective insights, uncovers blind spots and helps you refine your strategies. If you want to boost profits, improve team dynamics, or simply feel more in control of your business, a coach can make a difference.
Hiring a business coach can be beneficial at various stages of business. There are three scenarios in which it may be the right time to hire a business coach.
You might hire a business coach if your business is growing, and you need guidance to scale. If you’re facing specific challenges or feeling stuck, a business coach can help guide you through to the other side. Or, perhaps you’re planning a big change or transition–such as expanding, hiring, or selling–and you want a business coach on your side to support you navigating and preparing for the transitions to make them as smooth as possible.
It’s common to mistake a business coach for a mentor and vice versa; but it’s important to understand the difference. While having a mentor is extremely valuable (and something I often encourage amongst my clients!), it does not take the place of having a business coach.
A mentor is typically developed through a relationship, where they can share their personal experience and knowledge to help guide and inspire your overall career development.
A business coach is primarily focused on helping you achieve specific, measurable goals through structured guidance and actionable steps, utilizing a mix of personal experience along with trusted resources and tools.
Another common misconception is that a business coach is the same as a consultant.
A consultant can help provide expert advice and specific solutions to a business challenge, but they take a more hands-on approach to implement changes on an as-needed basis.
On the other hand, a business coach is on a more long-term basis and primarily focuses on empowering individuals to develop their skills and knowledge as leaders, guiding them to reach success in all areas of their business.
Generally speaking, you can reference the famous quote: “give a man a fish, and you feed him for a day; teach a man to fish and you feed him for a lifetime.”
A business coach can help with a wide variety of areas, ranging from business planning and marketing strategies to operations, finance or leadership. Personal and professional growth are also intertwined throughout.
The key is to hire a business coach that will offer personal guidance tailored to your specific challenges and goals. Ideally, in working with a coach, you gain an understanding of what you want personally and then design your business to fuel those personal goals.
A business coach can help you develop a clear plan, then work with you to break that plan down into measurable goals with actionable steps to reach milestones towards those goals. A business coach can also help challenge you to think bigger and dream of what’s possible.
Working with a coach can help give you accountability and support as you transform your mindset and business.
There are a lot of business coaches out there, so it’s important to do your due diligence to find one that will truly benefit you and your business!
Ask for recommendations from other business owners you trust, or if you’re looking online, read reviews from clients and check for credentials or qualifications.
You’ll want to know if you prefer to meet your coach in person or online, or even hybrid. That can help determine where to begin your search.
A good business coach is one that will help you stay focused and make shifts when needed. A great business coach will push you further than you would normally stop if left to your own devices. A superior business coach does all of that, holds you accountable to your commitments and helps you get the results you are after. They understand that your values, beliefs, skills, behaviors, decisions and actions will ultimately determine the success of your business.
There are different types of business coaching programs available. The most common are one-to-one, group, Masterminds and self-guided. There are also coaching programs available for team members in management, leadership, sales, customer service and more.
The format you choose will depend on how quickly you want to go, as well as your goals and personality. Ask the coaches you interview about their programs and the pros and cons of each format.
One-to-one coaching is the most intensive offered to help you achieve both personal and business growth. Most business coaches offer biweekly or weekly coaching.
If you’re not sure you’re ready for the spotlight all on you or are looking to build community and learn from your peers, then small group coaching or a Mastermind may be the right choice for you.
If you are self-disciplined and/or have a lower budget, self-guided programs online might be a good place to start, but you may not get the personalized support or resources you need.
If you're unsure which type would be best for your goals, most coaches can help you assess your needs during an initial consultation.
When using a business coach, you should come prepared to sessions and learn to be open to feedback. Throughout the program, you will be held accountable for the learning, planning and completing the action required to achieve your goals.
You must be willing to put in the effort to see the results!
Business coaching program investments can vary based on the coach’s tenure, the type of program and frequency of meetings. It can also depend on the size of your business and if your coaching will be in-person or virtual.
The goal is to be able to cover the investment with the growth you’ll have in working with a coach. If you’re putting in the effort, taking action, and learning new skills, strategies and beliefs, your good business will turn into a great business!
No, a degree is not needed to become a business coach. However, having relevant business experience and/or a coaching certification from an accredited organization like the International Coaching Federation (ICF) or ActionCOACH can boost credibility.
Hiring a business coach can be a game-changer. Whether you’re looking to expand your team, improve your profitability, or prepare your business for the next stage, working with a coach offers a powerful way to reach your goals. If you’re ready to take your business to new heights, let’s connect and discuss how coaching can help you achieve lasting success.
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