All business owners have special expertise that leads them to business success. On the flip side, they also have limits to their experience that can hold them back from fulfilling their complete vision on their own, and might require outside coaching.
In a world of acceleration in every category — technology, bureaucracy, digital marketing, talent management, to name a few — it can be useful to have someone in your corner to help you parse out what matters most and figure out how to tackle all projects big and small so you meet your objectives.
Business objectives are closely tied to personal objectives because business success enables everything you want to achieve socially and personally. When your business succeeds, you have the resources to both give back and care for your family, your friends , and yourself.
Leveraging a business coach is a practical way to stay true to yourself, and make sure not only that you find the shortest path to where you’re going, but also that you stay on that path.
Here are some benefits of having a business coach, what you can expect, and how to get started.
Hold Yourself Accountable
One of the chief benefits my coaching clients tell me they get from coaching is the benefit of keeping them accountable to their commitments.
In a world full of distractions, when your “why” is top of mind, you’re more likely to stop wondering about what you should be working on and just do what you know needs to get done.
Transferring your to-do list to your action calendar will pinpoint the exact time you’ll do each activity, moving you in the right direction with the right mindset.
Just like you’re more likely to show up to the gym to work out with a friend than you are to show up and work out by yourself, you’re more likely to stay on track with business commitments if you hold yourself accountable to a coach.
Strategize on Business Execution
Whether you have your sights set on growing your business to prepare for an exit or you’re planning to keep it until you ride off into the sunset, determining the most suitable strategies to accomplish your goals will make you more likely to achieve them.
Most Owners don’t have a second-in-command in their company that they can reliably work with to develop these strategies. They’re left on their own and this is where a business coach can step in to fill the gap.
The business coach wants the owner to succeed as much as the owner wants to succeed. And while the business coach may not have as much at stake, they are well positioned to help the owner pull back and view the lay of the land at 30,000 feet to be able to determine a comprehensive strategy and prioritize their investment of time and resources towards the execution of their plan.
A Therapist for My Business
Owning and running a business is emotionally taxing. People are relying on you for a variety of high stakes reasons. Employees rely on you to provide for their families.
Customers rely on you to fulfill your promises. The government relies on you to pay your taxes. You have responsibilities in the form of insurance, permits, licenses, training, rent/mortgage, contractors, and beyond.
Some days you just need to vent. Some days you need to be reminded that you’re doing a great job and are on the right track.
Some days you need to be gently advised to consider an alternative path — and some days you need a brick over the head to save you from yourself.
I’ve been told by several clients that they feel like I’m their business therapist and they appreciate having a sounding board in an area of their life that no one else can understand.
Private Business Coach
If your business is at the point where you have a slate of clients and you’re on a growth path, you could benefit from a private coach. This experience will be focused solely on you.
Your goals: You’ll be guided to dig deep and reflect on what you truly want, why you’re in business, and what you want for the future of your business.
This is harder for some than others, but important for everyone. It provides direction so you know how to set mini milestones for each quarter, month, week, and day and so you know that your efforts and energy are being spent on what you care about.
Your strategies: As you constantly work to best serve your clients by creating win-win scenarios, you must employ the best strategies that are right for you at the time: pricing strategies, hiring and delegation strategies, marketing strategies, product development, etc. Over time, these strategies evolve.
Your decisions: As you grow, the decisions get harder. When you find yourself in situations where you don’t know the right way to go in a difficult decision, you usually don’t have enough information.
A coach can help you realize when you need to do more research, ask more questions, and consult more experts to help you reach the point where you’re confident making decisions.
Your skills: You’re always learning something new when you own a business. Sometimes you need a new skill and don’t realize it. A coach can help you identify areas where you need to practice and put effort into leveling up your skills to take you and your business where you’re headed.
Group Business Coach
If you’re new to your business and to coaching and aren’t sure if it’s right for you, joining a group coaching program is a great way to get started.
You can get help with your own bottlenecks and at the same time see how other business owners are using the coaching time.
You also get an inside peek under the hood of your peers’ businesses and can learn from them in a variety of areas that are relevant to you.
Group coaching programs are less expensive than private coaching and can give you access to experienced professionals at a cost in alignment with where your business is at the time. It can also give you time to learn how you would use a private coach if you had one in the future.
Experience a Sample of Business Coaching
Curious about business coaching but need to check it out first? While there are hundreds of business coaches out there for you to choose from, as you’re conducting your research, you’re welcome to join my next Sample Business Coaching event, which can be found via this link at the top of my website.
Click the link to “Attend Our Next Session on Setting Yourself Up for Success” and register.
You’ll get a chance to receive coaching on your bottlenecks as well as experience others getting help as well. You can ask questions about coaching in general and take this information to help you determine your own next steps as you consider this powerful tool.
In summary, if you’re committed to your business and personal success and are looking for help on how to best leverage your own expertise while also figuring out how to compensate for what you don’t know you could be missing, business coaching may be great for your business.
Belinda DiGiambattista is a serial entrepreneur, business coach, and outsourced financial controller, and can be found at www.belindadi.com.