In a recent Spodek & Co. post, I wrote about my experiences with business coaching, and outlined a few of the benefits of hiring a good coach (or three!). So the other day, on a lark, I keyed “Do I need a business coach?” into Google, and pressed enter.
And in less than a blink of an eye (0.60 seconds) 884,000,000 results appeared! Are you shocked? You shouldn’t be. In fact, hiring a business coach might be the most important gift you give your business and yourself this year.
The Benefits of Hiring a Business Coach
Let’s face it, we’re all heads down running our businesses, right? We’re all busy. But a good business coach will force you to stop, take a breath, and make the changes you need.
He or she will hold you accountable, and also be able to give you tips and advice on what’s best for your business. Whether an increase in productivity, clearer goals, different investments for growth, or a 360 degree pivot—your coach can help you map out your future.
I have three coaches, and they each contribute to the running of Spodek & Co in unique but extremely valuable ways:
- I’ve worked with a business coach for the past three years, who holds my feet to the fire (see above re: accountability) and helps me see the forest for the trees.
- My financial coach (CPA) helps me keep track of Spodek & Co.’s finances.
- And my Pilates coach helps me unwind, de-stress, clear my head, and most importantly – STAY HEALTHY!
In fact, my Pilates coach she might be the most important coach I have. Heck, if I’m not of sound mind and body, who is going to run this show?
If you’re interested in exploring the world of business coaching, here are a few things you should think about before you commit.
What to Look for In a Business Coach
As I mentioned above, if you’re looking for growth and personal empowerment, nothing beats coaching. Eighty percent of business professionals who received coaching reported an improvement in their self-esteem, and 63 percent saw a positive change in their overall wellness. And the ROI on investing in coaching is impressive, almost six times that of the cost of the actual coaching.
An unbiased set of eyeballs on you and your company helps you define strengths and weaknesses, drill down on gaps, and see opportunities you might not otherwise have noticed.
Here are a few things you should look for:
- Make sure you click with your business coach. Having a personal connection with your coach is really important, as trust is a HUGE part of coaching. You will hear things that are hard to hear. And you have to be able to trust your coach has your best interests at heart, and understand that it’s not personal.
- Find someone with personal business experience. Not every coach is a former business owner, but if you CAN find a coach who has experience running a business, who really gets what you’re going through, you will have hit the jackpot.
- Try and source a business coach who brings strengths to the table that you specifically lack. Otherwise, what’s the point? You want them to be able to teach you a new way of looking at your business. And that won’t happen if you pair up with your twin.
- Make sure the coach you choose provides you with an actionable plan. They should be brutally honest about what you need to change when it comes to running your business. The last thing you need is someone who sugar-coats what you’re doing wrong or where you’re losing ground. Basically, you want a person who will rip that band-aid right off, even if it hurts a bit at first!
Invest In You – Hire a Business Coach
If you’re able to find the right connection with a business coach, you’ll discover that relationships with clients AND colleagues will solidify, profitability will increase, and overall teamwork and employee retention improves.
It’s hard work. And you have to have somewhat of a thick skin. But I can personally attest that investing in coaching is the best move I’ve made in years.
What do you think? Have you used a business coach in the past? How did that work for you? Are you thinking of investing in some business coaching? I would love to hear about your experiences!
***One step in the right direction would be to join The Game Plan for Small Business Growth, our Facebook Group for business owners! It’s a closed group, so we really respect each other, and we have a lot of fun while sharing business tips and tricks. Swing by and check it out!