A business coach is a valuable asset to any entrepreneur, whether you’re just launching your business or looking to expand. It takes a village to grow and manage a company, and it pays to invest in a coach who can provide invaluable guidance and advice.
In fact, research has found that executive coaching provides an average ROI of six times the cost of services.
That being said, a business coach is not for everyone. Here are four reasons why you may not be a good fit to have a business coach.
4 Reasons You May Not Need a Business Coach
Most entrepreneurs can benefit from a business coach, but hiring one may not be the best choice for everyone.
You may not need a business coach if:
- You’re content with the direction your business is headed
- You don’t want to grow your business
- You don’t want to invest in the future
- You don’t want to be held accountable
If any of these scenarios apply to you, a business coach may not be right for you.
Now on the other side, if you have a dream about where you want your business to go, are ready to fast track your success, and desire to be held accountable, then a business coach could be exactly what you need.
Here are five benefits to working with a business coach, and how to find one.
5 Benefits to Working With a Business Coach
1. They Will Help You Set Clear Goals
One of the first and most important things you will do with a business coach is set goals for your business.
Goals are, after all, what drive businesses forward and help them succeed. A Harvard study found that people who have goals are 10 times more successful than those who don’t set goals.
Setting clear and focused goals is essential for every business, but it’s not always easy to see the path that lies ahead. Sometimes, you need help and insight from an outside party to determine what you really want for the future of your business.
A coach will not only help you get clear on your goals, but also create a plan to achieve those goals. If you want to succeed, you have to take action. Having a roadmap makes it just a little bit easier to take that first important step.
2. They Can Help Your Business Reach the Next Level
If you want to take your business to the next level, you need to plan and strategize. A good coach will help you plan for the future, challenge you to think outside of the box, and tear down your self-imposed limits.
Because to truly take your business to the next level, you need to step outside of your comfort zone and wander into uncharted territory. A good business coach will help you find the courage and motivation to take the road less traveled and explore possibilities for your business that you thought were unattainable.
3. They Will Offer Unbiased Insight
A coach’s job is to motivate and encourage but to truly succeed, you need to understand both your strengths and weaknesses. A business coach can provide constructive criticism and provide valuable, unbiased insight.
When your coach also has industry experience or years of experience in helping theirself and/or others achieve what you want, they can provide advice and guidance that colleagues, friends, or family members likely cannot.
4. They Will Hold You Accountable
Coaches help you set goals and provide insight, but their help goes beyond the planning stages. To reach your goals, you must take action and stay on track. A business coach will hold you accountable, so you stay on track and laser-focused on achieving your goals.
5. They Will Help You Improve Your Leadership Skills
To run a successful business, you need to have excellent leadership and management skills. A coach can help you develop and improve these skills. They can also offer guidance when faced with difficult decisions and problems.
The skills and advice offered by your coach can help you better manage the inevitable difficulties that lie ahead.
How to Find a Business Coach: 5 Things to Look For
Now that you understand why you need one, you may be wondering how to find a business coach. What should you look for when finding a coach or mentor?
1. Unapologetically Honest
For a coach to do their job, they have to be unapologetically honest. Some entrepreneurs are taken aback by how blunt some coaches can be, but it’s that unabashed honesty that gives you the wake-up call you need to succeed.
A coach who only offers praise and never provides constructive criticism may not be the best option.
That being said, look for one that fits your style to receive feedback. Some people prefer a softer approach than others, who may prefer an extremely blunt approach.
2. Track Record of Success
A coach’s job is to help you succeed, but how can they provide insight and guidance if they haven’t been there themselves?
Anyone can call themselves a business coach, so it’s important to understand the person’s background.
When looking at coaches, make sure that you check their track record.
- How much experience do they have?
- What is their area of expertise?
- What have they achieved?
- How many businesses have they owned?
A coach with a wealth of experience and a history of success can provide invaluable knowledge and advice.
You can also consider asking around your friends and colleagues if they have a referral to a coach that may be a good fit.
3. Focused on Accountability
Accountability is so important when working with a business coach. When speaking with coaches, ask how they hold their clients accountable.
A good coach cares about how you’re doing and whether you’re on your way to reaching your goals. That isn’t to say that they can do the work for you, but they should definitely support you.
4. Upholds Communication Promises
First, find out how much time a coach can offer you, and inquire about their availability. Is their plate overflowing with projects and commitments? If so, they may not be able to offer as much time as you want or need.
A coach is a wonderful asset, but if they’re impossible to get a hold of and can’t offer you much of their time, is it worth it?
It’s important to note that this does not mean they are accessible 24/7, but if they aren’t getting back to you as outlined in the agreement you two made when you started working together, they probably aren’t a good fit.
For our clients, we discuss upfront how often we will meet and what kind of communication we will have between meetings, so you always know what kind of access you have to us while working together.
5. A Good Fit
A person can have all of the qualities and credentials that make up a great coach, but if you don’t get along well or your personalities clash, it will be challenging to maintain a productive relationship.
Talk to coaches before you hire them. Get on free consultation calls. Consider whether or not you enjoy talking to the person. If something feels off or you just don’t see yourself wanting to work with this person, move on. It’s essential to choose a coach that you get along with and enjoy working with.
A business coach will serve as your mentor and help you work towards reaching goals that you never thought were possible. Accountability, honesty, experience, and expertise are just a few of the many things to look for when choosing a coach. The best way to find the right coach for you and your business is to schedule a call, see what they have to offer, and consider if it and them fit into your overall goals.business coach