Why would every business need a business coach?

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Starting a business is a handful, especially for first-time entrepreneurs. The initial stage requires the entrepreneur to be the jack & master of all trades. It often overwhelms entrepreneurs as they scramble to master and manage different tasks and responsibilities, ending up working IN the business and forgetting their primary focus of working ON the company. That’s where a business coach comes to the rescue. Just as a coach is vital in helping a sports team sharpen its act to become a winning team, a business coach can help an enterprise sharpen its business to succeed.

How does a business coach prime a business for success?

How Can a Business Coach Help You? 

Two main things a Business Coach helps entrepreneurs with is – one bringing their focus back on working on the business and, secondly, making them accountable.

The irrefutable fact is that no one knows your business better than you. A business coach brings in fresh perspectives and learnings, an objective point of view that helps identify gaps and broaden the entrepreneur’s perspective. A business coach provides guidance, support, and expertise to help you find your way out of the challenges you are battling -increase profits, improve customer satisfaction, streamline operations or seek funding. From developing a strategic plan to improving your leadership skills, a business coach can help you take your company to the next level. Let’s take a look at why hiring a business coach is a sound decision-

  1. Improved business skills and knowledge: Business coaches bring vast and varied expertise in many cases, armed with proven strategies across industries, and can add real value to your business in the field of marketing, sales, finance, operations and leadership, resulting in increased productivity and efficiency.
  2. Increased confidence and motivation: A business coach can provide the support and encouragement needed to boost your confidence and motivation, particularly when you’re feeling overwhelmed or uncertain about moving your business forward.
  3. Identifying areas of improvement: A business coach can help you identify gaps in your business and areas of improvement and develop strategies to address these to get you back on track to achieve your business goals.
  4. Support and accountability: It is lonely at the top is an often quoted quote – one that an entrepreneur relates to best. A business coach can be an entrepreneur’s best and worst friend. One who makes an excellent soundboard to help them unravel and streamline their thoughts on one hand and holds them accountable for their tasks on the other.
  5. Fresh perspective and new ideas: A business coach offers a fresh outlook and objectivity, helping entrepreneurs out of the box and find creative solutions to challenges, lending an innovative approach to business.
  6. Sounding board for brainstorming and problem-solving: A business coach can act as a sounding board for your ideas and concerns and help you brainstorm and troubleshoot problems. A coach can help you find solutions for challenges that work for your business by providing a safe space to air your thoughts.
  7. More success. More growth: A good coach can steer you to bring improvements in self and organisation that would help you achieve more of all – success, growth and profits.
  8. Confidentiality: Business coaches are bound by professional ethics to maintain clients’ confidentiality—an essential aspect of building trust and creating a safe space for open and honest discussion of issues.
  9. Tailored Support – A good Business coach will customise the coaching style and techniques to suit the organisation’s unique requirements.
  10. Improve Leadership Skills – Leadership skills are crucial to driving the organisation forward. Coaches can work with leaders on several facets of their leadership skills, including improving communication and inspiring others, which can increase employee productivity and engagement.

When to seek a Business Coach?

So, when does one know it is time to seek a business coach?

Some scenarios that quickly come to mind are

  1. When You Feel Overwhelmed – As business leaders, juggling multiple priorities can be overwhelming. In managing day-to-day challenges, the entrepreneur often loses site of the future. To get back on track and focus on the business getting a Business Coach would be a wise decision.
  2. Hitting a Plateau – Reaching a business stage when growth is challenging. A business coach with expertise and a fresh perspective can help you over the hump.
  3. Making Significant Changes – If you’re looking to pivot your organisation or have aggressive growth plans getting a Business coach can help you manage change and/or draft strategies that would help to achieve your goals.

As necessary as knowing when to hire a Business Coach is to hire the right Coach for your business.

How does one identify the right coach? 

Here are a few pointers:

  1. A good listener
  2. Has the right questions for you?
  3. Has the relevant experience/expertise
  4. What do their clients have to say of them?
  5. Your dynamics with the Coach over one or two meetings

Conclusion 

Richard Branson once said, ‘soon every business will have a business coach’ given the current era of startups, where the age of the entrepreneur gets younger by the year, and an ever-changing business environment both beckons the need for a business coach.

Whether to take your business to the next level or to help pivot, a business coach can help. Don’t let uncertainty or overwhelm hold you back – consider hiring a business coach and regain control of your business’s future.

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