Business coaching is where a professional coach guides a business person to help them achieve their professional goals. Business owners tend to be fiercely independent, and it may not come naturally to look to another professional for help and support, but a coach can be a powerful resource if used in the right way, so in this article we’ll look at what a business coach could do for your business.
What does a business coach do?
Exactly what your business coach will concentrate on will depend on you, your business needs and the areas you need to grow in, but here are some of the things they might help you with.
Help you focus on growth
Where are you in your business journey, and where do you want to get to? A good business coach can help you see your present position clearly, honestly examine where you want to be, and create a realistic plan to get you from one to the other.
Help you formalise your vision and values
It’s likely that you started your business with a powerful vision of what you wanted to achieve, but many business owners struggle to put this vision into words, often because it’s so obvious to them. A good business coach will help you clearly state what you stand for and why, so you can effectively communicate your vision and values to your customers and you team.
Provide tailored advice for your specific situation and goals
Your business will have different pressures and needs depending on the industry you’re in, your financial position, your customer base, the number of competitors in your market, the talent you’ve recruited, the skills you need and many other variables too, which means you’re in a unique situation – which could be very different form the position you were in a few months ago, or a few weeks from now.
A good business coach will get to know you and your business, so they can help you navigate this ever-shifting landscape and decide where your attention should be focused right now.
Keep you accountable and motivated
True independence is one of the things that attracts many to running their own business, and many actively enjoy the idea that the buck stops with them. However, it can be useful to have another expert voice to help you test ideas and keep you focused on your goals. A good business coach can use their experience and expertise to tell you how it iWhat to look for in a business coachs and keep you on the right path, often when no-one else can.
What to look for in a business coach
If you’re going to put this much trust in someone, it’s important to choose them carefully. You need to be sure of their expertise, and that they’re the right fit for you and your business.
Do they have formal coaching qualifications?
Can you find testimonials from people they’ve worked with in the past?
Have they worked in your industry before?
On a personal level, will you be comfortable accepting advice or criticism from this person?
Can you get to know them better before signing up – for example do they offer any free coaching sessions or events?
Is their approach aligned with what you need? For example, are you looking for a more holistic “life coaching” approach, or a focused small business coach?
The benefits of hiring a business coach
Does all this actually make a difference? Well, yes, if you’re receptive to it and approach it in the right way. Business coaching can help you grow your business faster, make you more resilient when facing setbacks and hone your own coaching and leadership skills. In fact, a study of Fortune 1,000 companies showed average ROI of six times the cost of business coaching.
If you have questions or if we can help in any way, please call our expert team on 01296 46843 or email info@orangegenie.com.