Why Hire a Business Coach?
Often I get asked “Why should someone hire a Business coach?” or “What exactly is it that you do?” These are great questions and reflect the reality that there are many different coaches and it is not always easy to have a clear understanding of what a Business Coach does.
This short series answers those questions.
(One thing to note – you may be experiencing more than one of these issues – and that’s normal. The key is once you recognize what’s going on, you can get the resource(s) you need to change for the better.
- Getting out of Overwhelm
Do you find yourself feeling like you’re slowly sinking, or perhaps paddling frantically just to keep up? There will ALWAYS be more to do than you can handle and no way out? Or, do you keep hearing the mantra “I’ll just get these things done, and then it will be better” – only to find that it isn’t better, just more and more different stuff to do?
Overwhelm is something I run across pretty frequently with my coaching. It can be really hard to sort out by yourself because you’re inside the situation and don’t have the visibility you need to see the way out.
Working through the situation takes new ideas, new tools, new ways of thinking or new insights into your strengths and weaknesses. Because they are outside, looking in and have a vast range of practical experience, a Business Coach will help with all of these, but most importantly work with you on HOW you implement new behaviors which are the keys to creating lasting change and moving ahead.
- Everything is going well, but you have no time and no life
No life balance is where business is going well, but you that’s all you do. And, this situation is way too common for business owners and executives. You may be winning in business, but losing in life – never seeing family and friends, traveling on the road way more than you want so you miss out on the activities that are important to you.
You’ve heard the answers: “You just need to get some balance” or “You just have to manage your time better.” What’s the most common response to such statements? “Yup. Right. Sure. That’s just not my reality.”
But it doesn’t have to be that way. Once again, there can be a lot of different issues – everything from delegation skills to unproductive habits to resource constraints. But, until there’s clarity around why you have no life and no balance, plus an action plan to change the situation, it will continue. Business Coaching is about developing both clarity and a plan, and seeing implementation through to success.
- You’re frustrated with your team/staff
It takes people – a team – to grow a business. You know you can’t do it all yourself. But, sometimes, building that team can be a struggle.
Many business owners I work with find employees are their biggest challenge, and they wrestle with poor performance, absences and “I don’t care” attitudes a lot of the time. It may even get to the point where you feel like you are carrying the people you pay to do a job!
There are a lot of reasons this happens, some of which may be the team and some of which may be you – the boss! The good news is, these problems can be understood and can be solved.
It’s important to tackle team issues with a clear plan, good tools, careful forethought and clear communication. The role of the business coach is to map out the structure, KPIs, and accountabilities, plus teach you and the team what leads to great communication and better performance. Even recruitment handled in-house in an effective way can attract team members who care – and perform!
- You’re working hard, but you’re not getting the results or making enough money
Like most business owners, a big part of why you got into business was to achieve financial freedom and independence.
But, like many others, you find you’re grinding away but where’s the money?? Often it’s not clear what the issue is – or there are so many issues it’s not clear where to start or how to fix them. Sound familiar?
Lack of financial results is common in all size businesses – it requires understanding what’s going on in the firm (in detail), figuring out root causes and putting new tools and techniques to work.
My clients often need to work on areas such as competitive pricing, understanding financial statements and targeting their sales efforts on where the biggest ROI lies. Business Coaching gives a combination of tools, education and clarity on the right prioritization which makes the difference between financial success and struggle.
- Get Un-Stuck – you know where you want to go but can’t seem to get there
There can be different issues here – like having the concept but not really knowing the detailed steps to get started, or knowing what to do but having a block of some sort that just keeps holding you back. You’re in good company - this happens to pretty much everyone at some point, whether they want to admit it or not.
The trick is to accept you are stuck and take action to get help from someone can hear what you want to do and can offer a combination of new knowledge, tools, perspectives, support and accountability.
A Business Coach helps you plan out what may have been dreams and get you moving!
- Having a Sounding Board/Confidante that you can truly trust
Very few people have someone that really understands business, takes the time to get to know you and your business, understands your challenges and is available so you can talk completely openly with them.
When the idea of asking others for unbiased input comes up, I hear things like “I can’t talk to my spouse about that, they’d freak out” or “I can’t talk to my family about that, they wouldn’t understand. And I am certainly not going to talk to my employees!”
The reality is that too many business owners don’t have such a resource – and that can make owning a business a much tougher, lonelier place. Isolation can be a painful consequence of being a business owner.
But there’s a cost beyond tougher and lonelier – the owner shuts down and internalizes the stress. Sound familiar? Shutting down like this can be very destructive – to your health, your relationships, and especially your progress with your business.
Your Business Coach epitomizes the saying “A problem shared is a problem halved and a Joy shared is a Joy doubled.”
- Save Time & Money – Leverage Knowledge
“There has to be a better way!” Have you ever said that? And in most cases you’re right.
When you’re running your business, just taking care of all the daily demands can consume you – there’s no time to learn about all the areas of business that aren’t your expertise. And, this is especially true in today’s connected world where you have to “on” and connected all the time.
This is where having a Business Coach means you get the relevant knowledge and strategies for your unique business situation – the coach has the knowledge bank and that is transferred to you so your business can be a fast track to solving a lot of issues that have been lingering for far too long.
- You want to get back the excitement, a sense of purpose and the energy you had when you started
Starting a new venture can be one of the most exciting events in life. There’s so much possible; it’s just amazing. And now as time has passed, challenges have taken their toll, and the excitement has faded - you miss that feeling of wanting to get up in the morning and be excited to go to work again!
Often I find that my new clients simply don’t see the opportunity that is open to them – which makes sense when you think about it. A fresh set of eyes and a different way of thinking can be all it takes to kick-start the process.
- You can see how you can grow a lot, but you’re not sure how to handle it
Becoming a much larger business can be a huge challenge. There’s more of everything – people, money, maybe buildings or equipment. You see the opportunity, but the challenge is knowing where to start, how to tackle the growth.
Plenty of businesses have lost control and failed because of exponential growth as opposed to losing business. Not only do you have to run the business today – you have to figure out how to run it tomorrow and next year and three years from now. A Business Coach familiar with high growth environments is invaluable to spot the warning signs before things go off the rails and know where to look for the points of leverage to manage growth. And, the combination of experience and having a structured approach totally resets the odds for success.
- You want to have your team more engaged and performing at a higher level
Surveys tell us that on average, less than a third of employees are fully engaged at work. Many of my clients complain about feeling like they’re working the hardest in their business. Getting the team to run on all cylinders is what engagement is all about.
Building engagement is a carefully managed process, not a one-off event or workshop. The key is getting started and seeing the process through to the end. It’s important to accept that some employees may not want to become more engaged – they’re comfortable and don’t want to change. They may leave as a result, but in the end, the team will be higher performing, more productive and, most importantly, a whole lot happier!
A Business Coach is a signal for change and with a defined process, teams can dramatically improve performance and productivity plus get along a whole lot better – in as little as 12 weeks!
- Hiring is totally frustrating, and you don’t know what to do about it
Let’s face it – after the recession, jobs were scarce and good employees a lot more plentiful. Today things have changed a lot; some roles are have become hard to fill, and things can look pretty much the opposite of 5 years ago.
Part of this is simply a resource issue – we have more demand than supply. But even in situations of short supply, successful companies continue to grow and hire. Clients I work with have found that a strong hiring processes combined with implementing all of the keys to building winning teams is the formula for success.
The advantage of a Business Coach who comes with an in-house recruitment process is that you have it for the rest of your business life and know exactly how to bring in the type of people who match your needs and also the culture you want.