Does business coaching really work?
Anyone can start their own business, but growing it to its full potential is something else.
Many people start their business as a side hustle to make a bit more money on the side. Or you might start it after being made redundant. Some businesses begin because they have a new idea or problem that they want to fix. But when it comes down to it, can be hard to grow and focus on your goals.
Business owners often struggle with running the business as well as growing it. Getting sales and doing everything else like, managing employees, taxes, marketing, SEO and more, can be very overwhelming.
Some think running a business frees you of the 9 – 5 but, in reality, many business owners work a lot more than the 9 -5, finding a balance between work and life is very hard! You might find you work until the early hours or over the weekend, taking away from family and friends, this wasn’t the reason why you started a business!
With the right business coaching, you can get your business and life back to where you want it to be. A business coach can help you realise your potential, hold you accountable for everything you are doing right and wrong, and push you to be the best business version of yourself.
Why entrepreneurs should get a business coach
A business coach is not there to tell you what to do. The coach’s role in coaching sessions is to positively “influence someone’s understanding, learning, behaviour and progress” (Julie Starr). The coach uses their unique set of experiences, training, and personality to support the coachee. The coach is fully present for the client, uses effective listening and questioning skills, offers observations or challenges constructively and gives helpful feedback.
Coaching is about you
Coaching is a unique opportunity for the focus to be 100% on you. To have someone in your corner, there with one purpose, to assist you.
Many people who have had business coaching have found the process to be enjoyable and vastly improve their business.
A study done by Manchester Inc, in 2001, found that businesses that hired a business coach saw a return on investment 5.7 times the amount that they paid for the coaching services.
Another study by Hay Group found that 40% of Fortune 500 companies make use of business coaching to train and develop their executives. 53% of business owners and executives report that it increased their productivity.
These stats show how business coaching works for many of the top businesses, so why should it not work for you?
What Does a Business Coach Do?
The term coaching originates from sports, and an athlete’s coach helps them improve their skills and focus more. A sports coach is not the one playing the sport, and they might not be as good as the athlete they are coaching but they are still there to help them improve. You will never see an athlete without a coach, so why not apply the same logic to business owners?
Business coaches often have had a rich history of starting businesses themselves. For a fee, they help businesses define goals, polish up their vision of the business and set strategies on how to achieve their goals.
Having a coach is like having an experienced partner on your team.
You might be struggling to grow your business or it’s struggling to stay afloat in a difficult financial time. Bringing in a professional business coach can be the boost you need to allow your business to thrive. A good business coach will have the skills to:
Make you accountable for everything you have achieved
Make you accountable for any roadblocks you have put up for yourself.
Establish goals and focus on your goals
Help you prioritise values and goals
Challenge you to take the next steps in your business
A study done by Olivero et al. in 1997 showed that training can increase productivity by as much as 22%, but when training is combined with coaching, it can increase productivity by 88%.
Famous Entrepreneurs who had Business Coaching
Even the world's most famous and top business owners have relied on Business Coaches during their careers.
Eric Schmidt – formerly the CEO of Google – has said that hiring a business coach was the best professional decision he ever made. He admits that it took some urging at first, as he was already a successful CEO of a rapidly-growing company (Source). He later said in an interview with Fortune Magazine, Schmidt said, “everyone needs a coach”.
Lots of others have benefited from business coaching including Bill Gates, Steve Jobs, and many others.
Who am I?
I am Marc D’Azzo.“Coaching owners to grow exceptional businesses is my purpose, seeing you succeed is my goal.”
Commercial director and business owner with over 25 years of experience in the real world of business.
Degree in Business Studies honours in marketing and diploma in business and life coaching.
So if you haven't seen enough about the benefits of business coaching and how it could help you and your business then please get in touch if you have any questions. You can get a free 30 min taster session just go to this page and fill in the form.