Sometimes an outside perspective is exactly what you need.
When we’re knee-deep in it ourselves, it can be hard to know which direction to go. Which task to complete first, which projects to outsource. We need clarity and direction, but it can be hard to see the forest through the trees when you’re right in the middle of it.
Take, for example, a client meeting I had the other day. He hired me for a full day to do a deep dive on his marketing strategy. We ended up only needing half a day, but we were able to find several pain points and opportunities that should be able to help him easily generate six figures in the next quarter.
These were things that were low hanging fruit, but since his team was so far into the business day-to-day stuff, they didn’t see the opportunities to make improvements.
I’d imagine that for most businesses, it’s a similar story.
Coaching doesn’t just pay for itself, it generates and sustains long-term revenue and growth. When you learn how to run your business better or develop new skills, they translate into a life-long investment, meaning they constantly pay dividends every time you close a sale. That’s a major reason why 86% of companies that work with a business coach believe they have recouped their initial investment. I know that’s certainly true for me. I’ve benefited tremendously from coaching over the years.
Studies have shown that companies that hire a coach can see returns of over 500%. Some 70% of individuals who work with a good coach also go on to say that they’ve seen an improvement in their performance, relationships, and communication skills.
As they say, you get out of it what you put in, so you have to be committed to helping your business grow, and willing to bring it all to the table. This motivation, coupled with your coach’s experience and perspective, is a winning combination that’ll enable you to take your business to the next level.
Ready to get started? If you’re on the fence about hiring a business coach, here’s a look at a few specific ways your business could benefit from some coaching.
A Business Coach: Reasons You Should Have One
“A Business Coach will make you work smarter, harder and progress faster than you would on your own.” –Rio Osorio
Just like professional athletes rely on coaches to maximize their skills, business owners who work with a coach are able to get the most out of their talent as well. Coaches aren’t just for athletes! Everyone has the potential to evolve but learning how to develop natural abilities into viable, effective and powerful skills many times requires at least a little help. No matter what type of business you run, working with a coach is one of the best ways to tap into your potential and make your company stronger and more profitable.
So how can a business coach make a difference in your career and jumpstart your company?
Here’s a look now:
- It’ll Give You a New Perspective
Tunnel vision is sometimes an unfortunate side-effect of running a business. When you are constantly focusing on specific parts of your company, like accounting, it can divert your attention away from other needs, like logistics. A business coach can give you a fresh perspective about how you’re managing your time, employees and business and whether or not there’s room for growth and improvement. It’ll also help to refine your focus; highlighting areas where you should be devoting your attention, as well as tasks that you’d be better off delegating or outsourcing.
When you enlist the help of a coach, you have the surety of always having access to objective advice that aims to help you reach your business goals. Making sure you always consider the big picture is another benefit of having a coach, who can warn you when you focus too much on the short-term. Since a coach will have an outside perspective, they can offer unbiased advice, which is incredibly valuable in the business world. Sometimes, personal bias can stand in the way of getting the most out of your employees. A coach can stand back and see the big picture and redirect you to focus on facts, results, and efficiency.
- It’ll Improve Your Skills
Having an outside perspective also fosters creativity, ingenuity and critical thinking. Consulting with someone from the outside who has a wealth of business experience can also lead to better solutions or novice approaches that people within your industry may overlook. You’ll also find that a coach provides constructive criticism that can guide you to strengthen your interpersonal and professional skills. For instance, a coach can pick-up on barriers with your communication style, which can help you more effectively manage others. Better communication means less wasted time throughout the day, and will help you to come across as the professional you are.
- You’ll Gain Confidence
When you continue to develop in your professional life, it helps build your confidence. A business coach isn’t there to nit-pick at the way you run your business and criticize everything you do. Coaches also offer reassurance and praise when you excel. Having someone in your corner to recognize your professional progress and accomplishments keeps you fresh, motivated and focused; continuing on toward success.
Knowing that your coach has helped build your skills and make you a better business leader also inspires confidence. When you’re assured that you’re capable of handling tough situations and major changes successfully, it can decrease your stress and improve your performance.
Confidence means not constantly second-guessing your decisions, and it’s an important part of succeeding in the business world. As a business owner, confidence is contagious. Your employees become more productive and effective when they know you’re there to back them up and have the track record to match. Handling your business affairs with confidence also strengthens your professional relationships and negotiations.
- It’ll Open Up Networking Opportunities
Business coaches became successful by growing and fostering a strong professional network. And you need more than just a nice LinkedIn page to network. When you have a solid network, it makes it easier to navigate the business world. Plus, it can help drive sales and revenue by cultivating new relationships. Many strategic partnerships are also rooted in effective networking skills.
Part of networking involves how you interact with people in-person. That means working on things like your handshake, posture, and conversation skills. A business coach can give you tips on what to wear to events and what types of events you should attend. Since there are seemingly endless offerings when it comes to professional networking events and seminars, a coach is super valuable. Their business experience likely includes countless workshops and seminars, meaning they know right out of the gate which events are worth your time and money.
Skill-building workshops also double as networking opportunities but it’s necessary to pick and choose the right program. Wasting your time simply isn’t an option when you’re running a business which is why a coach can make sure that you’re investing it wisely.
- You’ll Gain a Solid Sounding Board
Brainstorming has led the way to plenty of million-dollar ideas, making it an essential part of any successful business. When you are trying to problem-solve, conventional ideas don’t always lead to practical solutions. Having the ability to trouble-shoot with an experienced coach who knows how to lead is an invaluable asset.
When you have the guidance and support of someone who has already succeeded in your role or industry, it makes it easier to brainstorm viable solutions.
- You’ll Get Expert Marketing Advice
No matter what product or service your business provides, marketing is a key part to growth and long-term success. The skills needed to run the daily operations of a business should always include marketing knowledge. Technological innovations have made the internet a powerful tool for any business but knowing how to empower it is sometimes difficult. Many of the same themes in marketing exist, but new platforms like YouTube and Facebook have changed the game.
When you have a business coach, they can advise you on the best ways to optimize in-house marketing. While you may not be able to do everything when it comes to marketing, such as running a website or writing content, a business coach can show you how to manage the department and take advantage of tools like outsourcing.
An important part of running your business is keeping up-to-date. A business coach can teach you the best ways to stay current with business and marketing trends, which can help you leverage untapped potential in your business.
- You’ll Gain Accountability
The best part about being a business owner is that you’re your own boss. Unfortunately, that can sometimes be a double-edged sword. When you’re on the top of your company’s food chain, it can mean that there isn’t anyone holding you accountable. Business owners can benefit from coaching services because it ensures that there is a second set of eyes to make sure that you’re meeting your goals.
It’s easy to lose track of personal or professional goals, which is why having someone to hold you accountable is so important.
- You’ll Be Challenged
Another benefit of having a business coach is ensuring that you constantly have realistic goals, which helps keep you motivated. A coach not only makes sure that your goals are achievable but also that you are constantly challenging yourself to evolve and setting steps towards accomplishing your goals. No matter how long you’ve owned a business, there’s always something you can improve.
It can be easy to fall into habits and cycles, especially after working in the same industry for years. This makes it common for business owners to become complacent and overlook simple ways to improve day-to-day operations. A business coach makes sure you don’t get distracted or stop making progress.
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Finding the Right Coach
Making sure that the coach you pick is the right fit is imperative.
The three most important factors coaches think potential clients should consider when making their decision are:
- Relevant experience,
- A clear methodology, and
- Current and previous clients.
Having industry-related experience is obviously essential; as bringing someone in who never worked in a similar field can actually cause problems, not fix them.
You also want to make sure that your coach has the right personality and understands your goals. Besides their business experience, also consider what you want to gain from hiring a business coach, as many coaches specialize in specific areas.
Targeted specifically for owners of businesses of any size, this type of coaching focuses on business growth and success. The long-term goals of your business, such as revenue and size, guide your relationship. This is a great option if you’re looking for ways to improve your business operations, strategy, and mission.
Making sure your business is taking advantage of cost-saving measures is also important. Sometimes, cutting costs may mean utilizing new technology or processes, which a business coach can help guide you through.
Coaches who specialize in working with executives focus on improving your leadership and corporate communication skills. Even if you’re a business owner, executive coaching is especially useful if you regularly work with members of your executive department or leadership team. An executive coach can make sure that your management skills are on par and suggest ways to more effectively run your company and its employees.
Another benefit of an executive coach is that they can make sure you’re optimizing communication, meaning that you aren’t wasting time on pointless meetings.
As the name suggests, a marketing coach focuses on your advertising and marketing efforts. While some parts of marketing may require some specialty computer or design skills, creating a strong marketing plan doesn’t. Even if you don’t know how to build a website or edit videos, knowing how to construct a strong and results-oriented marketing plan is paramount. It’s also important to understand when to keep marketing-related functions in-house and when to outsource them. Learn more about finding and hiring a marketing expert.
Regardless of what type of business you run, chances are that you sometimes feel overworked, exhausted, and stressed. One of the best ways to improve your professional life and grow your business is to bring in the services of a professional business coach. When you have someone standing by your side with decades of experience, it can take your business to the next level.
Successful business owners always look for ways to grow. Bringing in a business coach can provide you with the guidance, support, and tools you need to help your business take a huge leap forward. If you’re ready to grow your business and get the results you crave, then get in touch. I help businesses to grow, and I’d love to help you as well. Reach out today for your FREE initial consultation.
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