April 12, 2022
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By using a Business Coach, you can increase your profits by an average of 46% (according to Street Directory).
The numbers look pretty great, don’t they?
The International Coaching Federation surveyed 210 coaching clients about how valuable they found coaching.
70% believed ‘Business Coaching’ is “VERY valuable.”
A Business Coach is like a Personal Trainer. A business coach helps you find your core strengths and weaknesses and pinpoint your knowledge gaps and fears.
The business environment continually changes and evolve. In order to stay competitive, you need the insight and outside perspective of a Business Coach.
As an Entrepreneur, it's hard to "see the wood for the trees." You are deeply involved in the daily chore of running your business. This is necessary to ensure that your business holds itself together.
But...
If you are always busy 'doing' this will lead to burnout; You will never succeed this way! This is the when you need a Business Coach the most.
A Business Coach will help you to;
The average Coaching relationship will last about 9 months (the same time it takes to grow a baby). Treat your business like a baby. Nurture it and care for it with the help of your Business Coach.
Prices for Coaches vary depending on skill set and type of coaching offered. The price can range from £50 per session to upwards of £1,000s per session. The change in mindset is seeing business coaching as an investment in oneself.
People can pay thousands for an 'expert' and get no real value in return. Business Coaches must have a track record, personal experience, and be on their own development journey. It's not just about getting you from A to B.
Imagine this...
If your coach is living in their mother's basement, doing coaching on the side while they work part-time at your local chip shop. Would you hesitate to pay for their services?
I would hesitate.
Versus this...
If you saw a coach walking around in a nice 'Saltrock' t-shirt, wearing a Tag Heuer and successfully coaching full time.
You'd want that coach, right?
The guys at Planned Ascent talk about coaching as a way to equip you for your business growth journey and accompany you for as much of that journey as you wish. Once equipped, there is no reliance on your coach any more, but your coach will still be happy to provide support as and when needed (not just when they are paying you).
You need a Business Coach for 'Accountability'.
As an Entrepreneur, there isn't anyone but you, or maybe a small team, accountable for the growth of your company. Nobody is asking the important questions.
Having someone who IS asking these questions will motivate you into moving forward.
In every sport, the competitors at the very top of the game got there, at least in large part, because they have a great coach.
In an interview, Darya Klishina, one of the top long jumpers in the world, was asked what the key to her success was.
Her answer?
"I trust and believe in my coach."
A business coach acts like a personal trainer for your company. They help you identify your core strengths and weaknesses, provide an outside perspective so you can work on the bigger picture, and hold you accountable for achieving your goals.
Yes, it's an investment in yourself and your business's future. Studies show that using a business coach can increase profits significantly. The key is to shift your mindset from seeing it as a cost to seeing it as a strategic investment for growth.
Look for quality and a proven track record. A good coach has personal experience, is on their own development journey, and can demonstrate their success. You want someone who can genuinely guide you from A to B, not just talk about it.
One of the most critical roles is providing accountability. As an entrepreneur, you often don't have anyone asking if you're on the right track or meeting your goals. A coach fills that gap, motivating you to stay focused and move forward.
The average coaching relationship is about nine months. Think of it like nurturing a new project or venture; it takes time to build a foundation, grow, and see meaningful results with the guidance of a professional like those at Robin Waite Limited.