Why Hire a Business Coach?
The purpose of hiring a business mentor and coach is to help a new or established business, with advice, counsel and practical support in order for things to progress a little sharper with some external accountability. No one person can know everything there is to know about developing a business and keeping it growing.
This is evident by the fact that most new businesses fail in the first year of opening. Combine that with the rate at which eCommerce is driving long-lasting businesses to close, and you quickly realise there are plenty of reasons to hire a business coach. Often times it is their multi-sector knowledge and extended network of contacts that makes the difference.
In this blog post, we'll be going through some of the top things that a business coach can help you with in your business. There are many reasons why you might want to hire a coach, and here are just a few! It's definitely not a completely exhaustive list, as there are so many excellent ways in which a coach can help you, no matter what your business does.
Reasons to hire a business coach: how they can help you
The range of business aspects a coach can help with is vast, and there is an extent to which each client asks an entirely different question or meets a new challenge daily. Approaches will normally be customised to the needs of the business and/or the preferences of the owner. If the business is not attracting new customers, for example, the coach can provide recommendations for improving marketing and communications, perhaps helping with analysis to look at why results are stagnant.
A review of the last campaign may reveal old techniques instead of the latest business innovations in digital marketing and targeted audiences. The coach will work with the owner to get marketing strategies upgraded for better results.
Introducing Concepts that Work Long-Term
A coach is not going to magically fix all business problems. If this is what you're expecting, it shouldn't be one of your reasons to hire a business coach. However, your coach will make sure that the business owners they work with have the tools, concepts or processes necessary for monitoring progress, meeting objectives and hitting goals. Keeping track of the right key performance indicators (KPI's) is definitely a big part of this.
While some owners hire bookkeepers, for others it may make more sense to find excellent accounting software and to take personal control of financial performance and KPI management. A business coach can help and advise around getting the right software selected and set up, as well as provide input as to which key performance indicators will be most helpful, with regard to achieving business goals.
You can then take this helpful advice and implement it long-term, to help ensure that your business keeps thriving long after you no longer require the services of your business coach. A good coach will help you to implement all sorts of concepts that work well for your business.
A coach will help you address your shortcomings
Every business owner has things they know aren't working quite as well as they could be in their business. However, it's sometimes difficult to face up to these and admit when things aren't going so well. If you are struggling to face up to your fears and admit that not everything is perfect, this is one of the top reasons to hire a business coach. Their goal is not to make your business life miserable, but they will also be readily prepared to ensure that you face up to your shortcomings and address them so your business can move forward and thrive!
A good coach will go even further and encourage you to question even the processes that you think are going well, in order to see what could be improved even further. Business is all about reaching out of your comfort zone in order to achieve great things. If you're struggling to do this on your own, or you're just not sure how to, your business coach is there to encourage you to take those leaps you need to grow your business further.
Hit a wall in your business? Hire a coach!
One of the top, most common reasons to hire a business coach is because business owners often feel as though they have hit a wall when it comes to their business. Perhaps you feel as though you have been doing the same thing day in, day out for months on end. Maybe you're just not sure where to go next with your business, because you're consumed in the daily running of it.
No matter what your wall may be, a business coach is there to provide clarity and help you clearly see where you need to go next in order to move things forward. They will help you to see what barriers are in the way of your success, and how to break these barriers so that your business can achieve its full potential.
Coaches can help you expand your professional network
Many people know the benefits of having an extensive business network. However, many of them just don't know where to start when it comes to finding this network. Having a network brings plenty of benefits.
For example, it gives you support when times get tough, gives you people to bounce ideas off of and the knowledge that others in your industry experience the same pitfalls and successes that you do. But, have you thought about how hiring a business coach could help you to expand your network?
Many coaches will encourage you to put yourself out there more as a part of their practice. And, they will help you connect with like-minded others. They might be in the same industry as you, or just have a similar outlook. Any good coach will be happy to help you expand your horizons and foster the professional network that everybody needs to truly thrive in business. Hiring a coach can help you to expand your professional network.
Hiring a business coach is a worthwhile investment
Overall, a business is the most significant investment most people will make in their lifetimes. This alone is one of the good reasons to hire a business coach! The costs, risks and sacrifices are enormous, and the results can be devastating if something does go wrong. When developing a business plan, be sure to invest in support, skills training and mentoring for yourself in the form of a business coach. This ensures new ideas are validated and that help is on hand to prevent you from becoming overwhelmed. There are many things that can go wrong when a business is just starting out, so it is wise to build in extra knowledge and support to help get your business fully off the ground.
Tim Hatari
Tim Hatari helps businesses improve performance, creating strategic development plans and establishing structure via the 5PX Executive Business Coaching System. As CEO and Founder at TMD Coaching, he oversees the vision setting process with clients, leading on sales acquisition, the drive for operational excellence and market leading innovation. For Tim, helping others is the most rewarding part of the role. Follow or connect with Tim on Linkedin - www.linkedin.com/in/timhatari
View All ArticlesTopics from this blog: Coaching, CPD