Compelling Reasons to Hire a Business Coach
The future is here. We’ve flipped to a new page on the calendar. A fresh horizon of opportunity is ahead. What challenges would you like to meet in the new year? What items populate your to-do list as you think about how you would like to improve? As a business owner, do you struggle to keep commitments to yourself? Are you searching for someone to hold you accountable to achieve even more than you thought possible?
Why Hire a Business Coach?
The benefits of hiring a business coach are widespread and substantiated. Across industries, business coaches ease leadership fatigue by helping owners learn to delegate, improve employee retention, and create better cultures of communication. But one of the biggest reasons to hire a business coach is to gain perspective.
A business coach acts as a mirror to your goals. They hold you accountable in ways that your peers, your business partners, and friends cannot. A business coach is a surefire way to make your business sustainable over the long term. A business coach steers organizations and leaders through seasons of rapid change toward greater stability in business. From the growth phase all the way through to the moment of sale, a business coach by your side advances both personal and professional growth.
When Is the Best Time to Hire a Business Coach?
Three common phases that business owners face include: the growth phase, the scale phase, and the sell phase.
The high-growth phase of a new business is generally chaotic and unpredictable. A leader is pulling out all the stops to get their product off the ground. There’s a huge influx of cash, time, and energy spent on giving the business everything it needs. A business coach in this phase helps to protect the owner from burnout by focusing on hiring, developing standards and protocols, and shaping the culture of the company.
In the scaling phase of a business, systems and protocols are now in place. Some are working, while others are not. Staff has multiplied but maybe not enough for the business’ needs. There’s a high demand for services, but anxiety around whether demand will outpace capacity. A business coach in this phase helps the owner lead with a business plan and avoid traps of mismanagement or overspending. By keeping a business owner strategic instead of reactionary, a business coach helps the owner identify opportunities to scale and focus on growth optimization.
In the selling phase of a business, a business owner is future-oriented. With retirement on the horizon and reasons to exit surfacing, an owner might wonder about how much the business is worth to a potential buyer. In the selling phase, an owner may not actually be ready to sell, but they want to start exploring the steps required. A business coach can come alongside an owner in the sale phase to help them discover the hidden costs of selling, calculate the net they need to receive from the sale, and even to help them vet potential buyers.
Ways Corporate Coaching Can Transform Your Day-to-Day
The needs of entrepreneurs are multifaceted. Some hire a coach to focus on staff and culture issues in the workplace. Some need support to decide when it's time to let people go or add people onboard to improve outcomes. Others need a coach to create processes and infrastructure that help them run the business more efficiently. But foremost, a business owner needs accountability.
A corporate coaching company helps leaders to develop a better communication style. As companies scale their digital workforce, old ways of communicating break down and fragment as teams now operate in different time zones. There are so many issues to tackle as a business owner: economic uncertainties, the workforce shortage, new regulatory changes, and on top of that, surging demand for services.
A corporate coach is trained to focus on the client’s self-identified goals. Rather than coming with an agenda of what the coach believes will work, a good corporate coach employs active listening skills. This helps them determine areas of importance for a business owner, instead of making assumptions. The coach then helps the owner create a timeline and action steps to meet those goals.
How to Find Executive Coaching Companies
One great way to find an executive coaching company is to rely on personal networks or business referrals from those who have experienced the coach firsthand. While a direct referral is not always available to find a coach, it is still helpful to look for similarities and see if a company has a niche or specialty that complements yours. This will help to establish common ground between you and your coach.
Orient yourself to the coach’s communication style and personality with a sample coaching session. Executive coaching is a highly interactive one-on-one relationship, which means the person and their style is important. Most coaches offer this in the form of an exploratory session or call to discover what their services are and to answer any client questions.
It is always good practice to find more than one coach to interview about their process, coaching philosophy, and methodology to establish a fit. The coaching relationship is unique and a lot has to do with personality. Do the legwork to ensure you are aligned with your coach’s personality and process.
Hire a Business Coach with Coachwell
There are many opportunities for success in the new year and beyond with business coaching. Imagine direct improvements to your business in the areas of priority management, leadership, future planning, hiring, and scaling. See the best opportunities for success by booking a business coach to help you strategize for each one. Scale in a way that feels humane to your staff and you and take steps to increase profitability that actually work. A better year in business could be as simple as seeing the gaps and doing something about it!
When you’re ready to take the next step, schedule a call with our team and we’ll be ready to help!
