What can a business coach do for my business that is different?
I’m sure we all wonder about this question before we learning more about it. With the invaluable resource of a highly experienced coach that can offer a unique and neutral perspective, small businesses/start-ups can receive key advice and “shortcuts to success.” Did you know that according to an ICF and HCI study, 60 percent of respondents from organizations with strong coaching cultures report their revenue to be above average, compared to their peer group. Coaching also has an impact on an organization’s overall financial performance. (See article in Forbes.)
What are the innovative and invaluable services that coaches provide for start-up entrepreneurs and small business owners?
- Regular communication between client and coach helps the coach better serve the client. Following the client regularly and seriously listening to the client open doors for the coach to help them reach their goals and enhance their overall business performance.
- Looking for disruptions and their causes are key to fixing issues before they become a problem and as a way to
prevent any issues as the business grows. Statistics show that 8 out of 10 startups fail within the first 18 months. These disruptions can be due to lack of research/knowledge and lead to a slow start, loss of business, competition, changes in the management among others. The coach will take this to the next level by assessing where the business is and where it is going, and develop a step-by-step plan for a clear understanding of the purpose and vision, while preparing the business to handle changes.
- Following up with past and potential clients of the business is another key to discovering needs. Making and publishing surveys on topics of concern/interest will add to the value of the business. Using these studies for marketing purposes will increase productivity and and instigate any needed changes.
- Education builds confidence. Educating businesses about coaching services as a part of an integrated program will enable them to create new solutions.
The knowledge that evolves will allow businesses to be better equipped to make decisions. This will also remove roadblocks and help overcome present challenges.
Once there is clarity about the benefits of coaching services, businesses are able to create key business goals and establish strategies to ensure that these goals are met. Coaching can save businesses from making costly mistakes. Coaching can also assist employees in being more aware of current needs, opportunities, and challenges while maximizing the potential they already have and leveraging each individual’s talents, as well as helping them understand where
they are headed. In the end a coach should more than pay for themselves in the long run.