For the past few years, businesses the world over have faced challenges like never before, which have required adaptation and flexibility.
Whether you are a Sole Trader or Big Corporation with hundreds or maybe thousands of employees, it’s always a race to stay ahead of the game and the competition, and find new ways to expand, develop and stay motivated.
As a business entrepreneur, you may be asking yourself if you should consider hiring a business coach to help you on your journey. After all, you are running a business and should be able to do everything yourself. While this may be true, there are many benefits to working with a business coach that can help you grow and succeed.
A business coach can help you develop a plan for success, as well as give you the tools and resources to help you reach your goals. If you are unsure of how to go about setting up a business or are stuck in a rut, a business coach can help you move forward. They can provide you with the necessary advice and guidance you need to make the right decisions.
It’s an investment not a cost…
In fact, a recent study by the International Coaching Federation – the world’s leading body for coaches and coaching – found that 80% of people who receive coaching report increased self-confidence, and over 70% benefit from improved work performance, relationships, and more effective communication skills. In addition, they also found that 86% of companies reported that they recouped their investment on coaching, 47% reported a 10 X ROI, and 19% claimed a ROI of 50 X their investment.
Apart from helping you stay focused and motivated, having your own coach can also help you learn from your mistakes and develop a strategy for success. It’s easy to get overwhelmed and give up when you don’t have a plan. A business coach can help you stay on track and provide you with the encouragement you need to keep going.
Build effective teams.
Managers should not underestimate the impact of coaching on their team as it frequently creates a fundamental shift in their approach to their work. For example, increased self-confidence enables employees to bring more of themselves into the workplace, which results in employees being more resilient and assertive.
A business coach can also help you identify and address potential problems before they become too serious. They can help you identify areas that need improvement and guide you in making the necessary changes. This can help reduce the amount of time and money you need to spend dealing with issues that could have been avoided.
Finally, a business coach can provide you with an outside perspective. This can be invaluable when it comes to making decisions. Having someone who can look at your business from a different perspective can help you see things that you may have missed and make better decisions.
I often get asked, what is the difference between a business coach and business consultant? My simple answer is this – Whilst each have their place in the business community, you hire a consultant to come in and do the work. Whereas, you hire a coach as YOU do the work, learn the lessons, grow the skills and build the confidence and self-esteem. It’s a bit like the famous quote by philosopher Lao Tzu – “If you give a man a fish, you feed him for a day. If you teach a man to fish, you feed him for a lifetime.”
So, if you’ve been thinking about ways to grow and develop your business, hiring a coach is a great way to take your business to the next level and maximize your potential. To find out more about how I can help you get in touch by clicking HERE