Why do people use business Coaches?
Hiring a Business Coach is nowadays no longer deemed to be a luxury, but a necessity to help businesses grow faster than ever before.
What is a Business Coach?
A Business Coach is an entrepreneur or a business owner who has a vast amount of experience running successful businesses.
And they will want to share their vast knowledge and industry expertise with you!
Here is how your business will benefit from hiring a business coach:
Provide your business with direction
It doesn’t matter whether you own a small, medium or large scale business hiring a business coach will offer you a fresh set of eyes if you are unsure about your business’s vision or if you aren’t sure how to increase the size of your business.
When you start working with your business coach, you will meet them either for a 1:1 or group meeting either in person or over Zoom.
At the first meeting, your coach will act as a sounding board to help you come up with an action plan to decide the vision for your business and also its long term goals.
As time goes on your coach will act as your business’s “compass” to ensure your business is heading in the right direction so you will meet your long-term business goals. They will help you if needs be to make small adjustments to your business so that you will make more money.
Many small businesses have attributed their success as being because of having regular contact with their business coach.
If you have a good business coach, they will be your accountability partner. Typically, you will meet them on a monthly basis and agree a series of targets that you will be required to meet.
A good coach will use these meetings to give you honest, constructive feedback.
Teach you new skills
When you begin running your business you won’t know everything.
There will be gaps in your knowledge that you can’t be expected to “Google” your way out of.
Now, this is where your coach will come in. They will use their expertise and wealth of knowledge to provide you with the relevant coaching and mentoring so you will learn new skills.
Typically for small businesses initially, this is creating a marketing strategy because for small new business owners this isn’t a priority which can result in them losing out on sales and other business opportunities early on. This can have long-term financial implications.
Improve time management skills
A major problem that small businesses face nowadays is how to manage their time.
Some small business owners just aren’t sure how to manage their time when they initially set out. This can result in a lack of productivity, poor focus and in extreme instances exhaustion.
A good business coach will teach you vital time management skills like prioritising projects and delegating.
Because ultimately if you focus your time on fewer projects through delegating tasks to others it will help you grow your business faster.
This will not only benefit your work life by allowing you to become a better boss but your personal one too because it will allow you to spend more time with your family and friends.
Increase networking opportunities for your business
Because business coaches have a vast amount of experience and knowledge, they will be able to help you improve your business’s networking opportunities on sites like LinkedIn and also through social media e.g. Facebook and Twitter.
Using websites like LinkedIn and Social Media sites like Twitter are becoming increasingly common for small business owners to do in order to build connections with professionals who are more senior in your industry.
Also, your business coach will strongly encourage you to attend conferences related to your field or industry in person to help you build connections.
According to a recent survey, 83% of business owners agreed that meeting others face to face was more beneficial for their business than doing so over Zoom for example.
This is because attending conferences with people from the same industry or field as you will allow you to meet others with the same interests or long-term business goals.
This will benefit your business long-term because the more people and businesses that know about your company, the more money you will earn.
Use of technology
The world of business is constantly changing.
And technology is playing a growing role in helping small businesses to grow and develop.
Technology is increasingly giving small businesses a competitive edge to in helping them communicate with employees, customers and prospective businesses.
A good business coach will have a vast array of skills and knowledge to help you deploy new technology and analytics to help grow your business
Your business coach won’t be afraid to give you constructive criticism
Another advantage of hiring a business coach will be regarded as a “third party” so they won’t know you in a personal capacity compared to family and friends.
But compared to friends and family, your business coach will understand your long-term business goals and will be able to provide you with an important insight into the industry you will be working in.
This means that your business coach won’t be afraid to give you constructive criticism when you attend monthly meetings with your business coach to ensure you stay on track to meet the long-term goals you have set for your business.
Twenty Three Degrees helps develop businesses that provides the lives that business owners, directors and their teams want to lead. Contact us today to find out how our team can help you.