Many small business owners and budding entrepreneurs wonder whether they really need a business coach. They feel that they would be able to learn the ropes on their own and with some guidance from experienced peers and mentors within the industry. While you would be able to gain some information and knowledge from these avenues, it doesn’t compare to the guidance, advice and support that a professional business coach can provide.
An experienced business coach will give you very honest feedback as well as customise small business solutions that will help you think very strategically about your long-term goals. In the process you will also be able to increase your revenues and profits, build a solid business that is sustainable and profitable.
While every business coach will have a different approach to how they work with their clients, there are some basic steps that will be followed. Take a look at how business coaching works:
#1 Meeting your coach
When you approach a company that provides business coaching services, you would have to provide some information about your business and yourself. This session may be free; you will have a detailed talk with the coach you have selected. The discussion will include looking at your business from the business coaching perspective; your coach will also help you gain more clarity about what things are acting as hurdles in your path. You’ll also understand the steps you would need to take in order to produce certain immediate results as well as a long-term change. This session will also help you identify whether the person is in-sync with your requirements.
#2 Comprehensive assessment
In the first official session as a client, your business coach will have a comprehensive discussion with you about where your business currently stands; they will also discuss aspects such as marketing and sales as well as management and leadership. Your coach will work closely with you to help you prioritize and establish the next steps. They will also give you all the tools you require to solve some of your most prominent frustrations.
#3 Goal-setting
Once the most immediate needs have been addressed, your coach will then provide you all the tools required to pen your three or five-year vision; and establish your long-term goals. You will be asked to create a picture of what you have envisioned for your company; which will be a reflection of your values and how these can be expressed through your business’ feel and look, your company’s culture, its location and scale, your product mix, target market as well as the desired financial results. You will notice that you have a solid plan that gives you a crystal clear view of where you stand right now and where you eventually want to be.
#4 Accountability
This is probably one of the most notable benefits of having a business coach by your side. As a business owner, the only person you are accountable to is yourself; that also means you may sometimes end up slackening the reins on yourself. However when you have a business coach who holds you accountable for the business decisions you take, that helps you stay on track; you are able to relate to your business better and achieve results much faster.
Keep in mind that your business is a delicate balance between the people that work for you, and the systems you use. An effective business coach will help you build a business that ties these two aspects seamlessly together, so that you are able to grow your business and balance your personal life as well.
