WHAT IS A BUSINESS COACH?
You can feel secluded running a business. Hiring a business coach is like having a highly experienced partner by your side. Business coaching is a process used to take a business from where it is now to where the business owner wants it to be. A good coach provides personalized advice which helps you navigate the rough landscape of running a business. A coach will challenge you and ask questions that empower the business leadership to make critical decisions.
WHAT DOES A BUSINESS COACH EXACTLY DO?
A business coach will help the business owners clarify their vision of the business and how it fits in with their personal goals. The coach enables leadership to think about and understand impact of reaching goals and their impact on business and personal life. Coaching assists in clarifying business owner’s vision, prioritizing business goals and objectives, assessing which goals are tactical vs. strategic. Business coaching is working together to determine which strategies will create the desired results.
Business owners usually get side tracked in the day to day running of operations . As an outside participant, a business coach can more objectively see a company’s internal and external landscape - and become the light enabling owners to see clearly. They can help an owner better understand what change may be needed, and can guide owners in creation of an executable plan to create desired results. The coach will also guide in creating key performance indicators (KPIs). Accountability is a critical component of business coaching. A business
coach will meet with a client regularly (weekly or monthly), to check in on commitments made during prior coaching sessions. A coach is unlike a consultant who will do the work for you. Instead, they will keep you focused on the end result and remind you why it’s important. They’ll motivate you to keep your commitments, act as a sounding board, and hold up a mirror to help you see your personal and professional blind spots.
BENEFITS OF BUSINESS COACHING
The partnership of a successful coach will give you encouragement and space to work out challenges on your own. It can help you handle conflict and challenges with greater ease.
A coach provides a fresh set of eyes and with their extensive experience, can help you see and mitigate your deficiencies. They will ask intuitive questions that challenge you to think critically and creatively
Offer insights and exercises around personality and leadership styles. By assessing your strengths and weaknesses, you can delegate more, so you can focus on yourself making YOU a better and greater strategic leader.
Businesses usually fall into the trap of repeating behavior even if they are bad habits - since they produce results. A business coach can push you to try new things weighing risk vs. rewards at all times.
A coach will also hold you accountable for your actions and also push the team to perform at their peak, increasing productivity and efficiency.
Be more profitable
A good coach will help bring clarity to your goals, help create a solid strategy, identify which actions are most likely to increase profits, and hold you accountable for implementation. These actions will lead to the inevitable - more profitability.