You need to know that more than 70% of businesses receive huge benefits through business coaching. Coaching positively affects financial results and how managers and teams cooperate, communicate and perform. Business coaching is ideal for enhancing relationships and understanding diversity, inclusion and how to optimize your business performance.
Implement coaching and see your business doing its best.
What is Business Coaching for?
One of the most demanded goals in business coaching is how to increase revenue, which is valid eventually. However, the path towards that engages different factors that need optimization. These factors have specific things in common—the mentality of all people involved in the business and structures and processes. Business coaching help you with:
- Define your growth strategy to set and reach personalized or business goals.
- Improve communication skills of leaders and executives to manage a team to greater success.
- Acquire time management tactics to do more in less time and also have time for creativity.
- Learn to lead with greater confidence, clarity, and purpose that inspires others.
- Find work-life balance to be healthy and improve your interpersonal relationships at home and the office.
- You have difficulty making decisions, or you need help with accountability.
- Be able to cope with change in all matters, personal or business, and understand what is holding you back.
- Understand people and their relation between structures and business goals—acquire more empathy.
How Do I Know If I Need Business Coaching?
Provide yourself with the answers to the following questions. If the answer is Yes, then you need a business coach for that. A coach can help you in these areas and take your business to the next level.
- Do I need help with properly setting or achieving goals?
- Am I constantly late in deliverables and overwhelmed?
- Is it hard to delegate tasks to others or let go of control?
- Do you find it challenging to manage difficult employees?
What Should I Look For In A Business Coach?
When you think you need a business coach, you have to find the coach that fits your business and for you. That is very important to have in mind. A series of criteria influencing your decision and coach selection is the following.
01. Find someone with experience
If you are in a particular line of business, you may want to seek a coach with experience in that market. However, excellent coaches can coach you regardless of your niche.
02. Find a coach you can trust and speaks the truth
Find a coach that makes you feel good and comfortable opening up. Business coaching requires building a relationship; otherwise, it won’t work. Someone who is open and truthful to you is essential.
03. Find an affordable coach of great value
There are different prices out there regarding coaching. Don’t go for the lowest fee. First, consider what you need and see a coach as one of the best investments for you and your business.
04. Find someone with a personality fit
As with trust, you need to find a coach where their personality matches yours. A good coaching relationship needs good chemistry. Their personality should mesh well with yours.
What Are The Different Types Of Business Coaching?
Business coaching include different ways where they help you progress towards your goals. They apply to large, small, or medium-sized businesses, solopreneurs, startups, and sole traders. The same principles apply to all; the scale is different.
All relate to where a business recognizes the need to get help. The coach can help you find these areas and either prioritize or create a plan to coach them all. The types are the ones you see here.
Transform and empower your business. Create clarity, and efficiency. Explore and define the proper paths, processes and resources towards what works for you and your business goals.
Transform your organization’s team members. Help them become better at what they do and manage, along with how to cope with change. Invest in people to invest in your business.
Invest in sharpening your skills to manage your teams find work-life balance and propel your contribution inside your organization. Acquire the ability to connect with people to propel results.
Executive Life Coaching
It comprises of coaching on how to handle problems in your daily life, such as those involving marital and interpersonal relationships as well as those involving excessive stress, anxiety, and tensions, etc. It also holds true when some personal aspirations and requirements seem impossible to fulfill as a result of giving them up.
Family Business Coaching
This service takes care of the family members as well as the business and its activities. By taking into account their unique features, we improve each member’s positive traits and learn more about their individual skills.
Individual Vs Group Coaching: Which Is Right For You?
Whether you adopt group or individual coaching will come up just before your final decision. There are advantages to both options, and -bottom line- you will choose what you feel comfortable with. Here are the pros and cons of individual Vs group coaching for businesses.
Group Coaching Pros
You can choose group coaching when:
- Learn from the experiences of others in a group.
- Learn from similar experiences of others.
- You enjoy the accountability “pressure” to produce results for you and the group members.
- You feel fine sharing your experiences openly.
- You enjoy business networking.
- You don’t need one-on-one coaching.
Group Coaching Cons
These may be missed with group coaching:
- Team members might miss out on their individual needs for growth.
- Team members may not feel as comfortable sharing personal information.
Individual Coaching Pros
You can choose individual coaching when:
- You need one-on-one coaching.
- You prefer more personal accountability “pressure.”
- You want to keep personal information private.
- You prefer business discretion.
- You want to control your time.
Individual Coaching Cons
These may be missed with individual coaching:
- Lack of networking.
- Learning from the experience of others.
- Having that accountability “pressure” from the group.
How Business Coaching is Done?
In my business solutions career, I have worked with over 1000 businesses, where I analyzed their different needs and helped them towards the proper solutions per case. The word I often hear is “best value for money,” and I prove that.
- Online 60-minute structured coaching sessions or face-to-face (it depends on the case).
- Complimentary 30-minute discovery meeting for new business coaching clients.
- Coaching that is tailor-made to your business goals and needs.
- Safe and confidential sessions to share the things you want.
What is the Outcome of Business Coaching?
The reason business coaching is popular is due to its multiple benefits. Rigorous coaching is needed if you plan for business growth and improve yourself, your team, and your bottom line. Here are three significant benefits you will have.
01. Improved Sales
That is one of the tops and most demanded outcomes for business coaching. A coach will help you discover and define your strategies for optimizing your marketing and sales efforts. On top of that, they can support you in finding the best ways to close better deals and get the most from your customers.
02. Increase your productivity
Do you want to optimize every single factor that relates to business productivity? Then your coach will help you with that too. You will learn to be more efficient with your performance and successfully delegate tasks to others or deal with difficulties.
03. Improved Processes
Your coach will support you in finding the optimal way your business should operate and how to decrease friction. They can help you with accountability, tracking progress, and how to best measure results.
Common Mistakes Made By Businesses That Hire Coaches
There are a few common mistakes that businesses make when hiring coaches. Here are a few:
01. Outcome is not defined
That is one of the most common things businesses neglect. When you employ a coach, you have to decide on the goal you want to achieve. If you don’t, you won’t be able to set measurable goals per session or for the result.
When the goal is unclear, both you and your coach will be constantly confused about the scope of your cooperation. Moreover, you won’t be able to track your progress.
02. Hiring the Wrong Person
Make sure your coach is the right one for the work you want and a perfect fit for your business. Do not skip the introductory discussion, no matter how short that may be.
You don’t want to waste money and time working with the wrong person.
03. Not Tracking Results
You need to track the results for your milestones and the outcome. When you track results, there is less frustration and more opportunities to optimize your progress.
When you don’t track results or skip accountability, the coaching process is weakened, and difficult to optimize for your benefit.
What is a Business Coach?
It is not by chance that most businesses you see out there have a business coach from day one or soon after they start. Especially large organizations use business coaches for their managers, executives, teams, and leaders.
The main reason is simple enough. You or your team can’t know everything, or -more important- people can’t quickly identify what is holding them back. That applies to structures, processes, and the mentality of teams and individuals.
Almost all the time, you need someone not in the business to “lend you” with their ears and their minds and actively listen and guide you.
An example often heard in marketing is that your marketing team will usually find it challenging to design the business website. The reason? They are too close to the business and can’t see things as a 3rd party does.
The business coach comes to work with the business, but they are an independent “ear and eye.” Along with their business coaching skills, they give you the most value you can get to succeed with your needs.
Working with a coach leads to clarity and happier teams and leaders. Coaches help them to clarify their vision and perspective and cope with change, doubt, and many challenges.
People in a business act through their personal goals and feelings. They are not mere production units. When all things internally and externally are improved, the impact is apparent to the person and the business.
That is something, especially after 2021, nobody can deny. People seek more in life; the key is aligning that with their profession.
The “old ways” work less than before. Without clarity, purpose, and fulfillment, it is harder to attract new talents or keep existing ones. With business coaching, you will go deep and not provide “bandaids” to patch things, only to break soon.
Professional, experienced coaches understand that, as they have been through different executive positions in their business life and have worked closely with other executives and business owners.
Coaches understand the pain and the psychological ups and downs. The need for clarity, business transformation, and change.
Excellent coaching envelops motivation and encouragement but goes beyond superficial “positive thinking.” Instead, transformational business coaching is what the word says: Transformation.
Transformational business coaching works deep inside the person, team, and business. Obstacles are revealed and understood, and actions you can uphold are applied.
FAQs for Business Coaching
Does business coaching really work?
Plenty of evidence supports that hiring a business coach works for a business. A few years ago, Forbes conducted a survey showing that 85% of companies reported an increase in their financial results. That increase was way over their investment in business coaching.
Consequently, business leaders reported they vastly improved their self-awareness capabilities, next to more soft skills. As we mentioned, improving people is one of the best investments, as people will improve products, services, structures, and ideas and help shape a business’s future.
How a business coach helps me?
A business coach will be your partner along your way to gain more clarity and plan appropriately for the future of all business or personal-related matters.
As a 3rd party, they can observe from a much-needed distance and ask the penetrating questions that will get you where you desire to go.
How much business coaching costs?
The costs for business coaching services vary and can only be seen as an investment. Their variations depend on the range of particular services under business coaching. It depends on if there will be teams that need coaching, executives, leaders and business owners, groups, or all of these. It is best to get your 30-minute complimentary discovery session, discuss what the business coach can do for you, and then receive a proper proposal.
Regardless of the decision on the range of services, it is best to see the investment in business coaching as the process to get you from where you are to where you want to be. That is the best way to evaluate it and also set appropriate milestones.
How long should I work with a business coach?
That is entirely up to you and the goals you set. When you think your goals are met, you can either decrease the sessions with your coach or altogether end up the coaching relationship. However, keep in mind that the period varies. Business coaching is not a “patchwork.” It usually takes a long period as it may involve coaching with different people, structures, and core elements of your business.
How many sessions per month do I need for business coaching?
Two sessions per month are ideal, so you or your team have the time to plan, implement and reflect in the meantime. One coaching session is usually less than optimal, and more than two don’t allow the space for working on the things found in the coaching sessions.
Business Coaching vs Consulting
Depending on the case, the coach may wear the consultant’s “hat” if agreed upon. The coach may carry some expertise that the business needs and wills to hire for the same reason they contracted the coach. That is commonly known as blended coaching.
How to start with your business coaching?
Book the 30-minute discovery session. It is free of charge but with great value. We will meet each other online and share all the information needed.