Introduction
Running a business is exhilarating, but let’s be honest—it can also be overwhelming. With so many moving parts, it’s easy to feel stuck, uncertain, or simply burnt out. That’s where business coaching comes in. But what exactly is business coaching, and how can it benefit you? In this post, we’ll answer the most frequently asked questions about business coaching to help you determine if it’s the right step for you.
What is Business Coaching?
Business coaching is a professional relationship between a business owner and a coach who helps them improve performance, overcome challenges, and achieve business and personal goals. A business coach acts as a strategic partner, offering guidance, accountability, and fresh perspectives to enhance decision-making, leadership skills, and overall business acumen. Unlike consulting, which often provides direct solutions, coaching empowers clients to discover their own answers and implement tailored strategies for long-term success.
Why Do I Need a Business Coach?
Every high performer, whether in sports, entertainment or business, knows the value of surrounding themselves with experienced coaches and advisors. It should be no different for small business owners.
Running your own business can become all-consuming of your time and energy, and it becomes hard to step back and take an objective look at how your business is really doing.
A business coach can help with that by making you focus on your business and holding you accountable for doing the things you should do to get your business to where you want it to be. They can offer insight into your marketing, your sales, your team, your financials, and every other aspect of your business. It’s like having a partner, confidante, mentor and sounding board; all rolled into one!
What Happens in a Business Coaching Session?
A comprehensive business coaching programme should touch on every area of your business. Where it places the emphasis will depend on you, your business and your goals. Key areas we look at include strategic planning, sales and marketing, finance, smart KPIs, leadership, team building and recruitment, systems and business development and consistency in customer service.
Our business coaching sessions are conducted using Zoom and typically include goal setting, strategy discussions, and problem-solving. Your coach will ask thought-provoking questions, challenge your assumptions, and provide actionable insights. Some sessions may focus on mindset shifts, while others dive into financial planning, marketing strategies, or operational improvements.
How Long Am I Likely to Work With My Coach?
The length of a coaching engagement depends on your needs and goals. Some business owners work with a coach for a few months to tackle specific challenges, while others maintain a long-term relationship for ongoing support. On average, our business owner clients typically partner with us for around two years.
Will This Even Work in My Industry? My Business is So Unique!
Yes, your business is unique, and you have your own set of skills and expertise. However, the fundamentals of doing business remain the same, regardless of the industry. Business coaching is highly adaptable and works across various industries. Whether you run a tech startup, a local bakery, or a consulting firm, coaching principles apply universally. A skilled business coach tailors their approach to your business’s specific needs, ensuring that you receive relevant and practical advice.
Will Coaching Mean More Work for Me?
The ultimate goal of business coaching is to no longer have you working IN the business, but rather ON it, which means more time for you to spend doing what you enjoy most while the business continues to provide for you. Yes, initially, you will need to find a few extra hours in the week to get the process going but further into the coaching journey, you will find this no longer necessary.
You will be working more efficiently with greater focus, to streamline operations, delegate effectively, and work smarter—not harder. The goal is to free up your time and put the systems in place that will make your company more productive and profitable – with less day-to-day involvement from you.
How Do I Know If It Is the Right Time for Me to Be Coached?
Hiring a business coach is a crucial step towards not just sustaining but actively growing your business. It’s about making more money, achieving improved sales & marketing, making better use of time, and building a winning team. If any of these resonate with you, it might just be the perfect time to consider bringing a business coach on board.
Consider business coaching if you:
- Feel stuck or unsure of your next steps
- Struggle with work-life balance
- Want to scale but don’t know how
- Need accountability and guidance
- Feel like you’re constantly working but not seeing results
Remember, the best time to plant a tree was 20 years ago. The second-best time is now. If you’re ready to take your business to the next level, now might be the right time to hire a business coach.
What Can I Expect From My Business Coach?
First of all, you can expect a lot of questions. Any business coach worth their salt will listen more than talk – and they’ll ask a lot of questions that can help you reason through your options and choose the right path for you and your business.
You should also expect a good business coach to empathise with you as you face business challenges – they’ve likely faced similar challenges of their own. In addition, you should expect your business coach to be understanding and to be 100 per cent in your corner.
Your business coach should also have a proven coaching process. A tried and tested methodology that has helped business owners just like you achieve business success.
Here’s what a good business coach won’t do: tell you what to do or give you easy answers to thorny business problems.
A great business coach will:
- Provide objective insights and honest feedback
- Help you set and achieve ambitious goals
- Challenge your thinking, identify blind spots and push you out of your comfort zone
- Offer proven frameworks and strategies
- Hold you accountable for your commitments
Is Business Coaching Confidential?
Yes, reputable business coaches maintain strict confidentiality agreements. Each session is a confidential conversation where you can openly discuss your business’s challenges, finances, and team dynamics without fear of that information being shared. We take client confidentiality seriously. Your coaching journey will only be successful if it provides a safe and trusted environment where you can openly discuss your business challenges and goals.
Who Uses a Business Coach?
Many successful business owners, executives, and entrepreneurs work with business coaches. Whether you’re a solopreneur, a small business owner, or a CEO of a growing company, coaching can provide the guidance you need to take your business to the next level.
Some significant businesspeople like Richard Branson, Steve Jobs and Bill Gates have all had business coaches at some point in their careers. These high achievers in business understood that a business coach is necessary to further elevate their success, despite already being very successful in their entrepreneurial careers.
How Much Does Business Coaching Cost?
Ultimately, working with a business coach shouldn’t “cost” you anything. Business coaching is an investment that usually begins to pay off immediately and will continue paying off over the life of your business.
A better question to consider might be “What value do you expect to get from business coaching? What would make the fees worthwhile to you?” For some owners, value will come from increasing revenue and profitability. For others, it might be about gaining time freedom or reducing stress.
At Summit SCALE Coaching, we believe that the purpose of your business is to give you, the owner, the life you want. What would you be prepared to invest to get that result? Many clients find that working with a business coach offers a high return on investment.
How Do I Choose the Right Business Coach for My Needs?
Put some advance thought into what you’re looking for before you start trying to find a business coach. Otherwise, it’s easy to settle for the first coach you find, without making sure they’re the best fit for you and your business.
First, think about your business goals. What exactly is it you want a coach to help you with? Solving a pressing business challenge? Expanding into new markets? Opening another business location? Something else? The clearer you are about what you want, the easier it will be to find the coach that’s right for you.
You should interview potential coaches to ask about their experience, the types of clients they’ve worked with, and the kinds of results they’ve been able to help their clients achieve. Ask for references you can speak to about their experience.
Finding the right coach has a lot to do with chemistry and comfort – when you find the coach that you have a good rapport with, that’s probably your person.
Take the First Step
If you’re experiencing the frustrations of business ownership, Business coaching can be a game-changer. Working with someone who has extensive business experience can help you get clarity on what you – and your business – are capable of. A good coach will highlight blind spots, push you to be your best, and help you identify solutions to your greatest business challenges.
If you’re considering coaching, take the first step—reach out to us and explore how we can support your journey. Your future self (and business) will thank you! Set up a fast-track call today: Book a 15-minute call with Shane at www.TimeWithShane.com
