Many people are still unsure of whether or not business coaching works and if there are truly any benefits. I think the real issue is that people are afraid of spending money on something they may not gain any improvements from. Lets face it, there is nothing worse then shelling out our hard earned money on something that did not provide the results it was supposed to. But was it the coaching or was there something else that kept the individual or organization from seeing the results they desired?
I tend to notice with potential clients when they contact me that they are not even sure what it is they need or want. They call me asking questions about how I can help them and the first thing I ask is, “What do you want to accomplish?” Then they tend to stop and have to think about what it is they really want. They themselves are not sure because they know something is wrong or missing but can’t put their finger on it. This is exactly why you would need a coach: because they can help you identify what it is you need to work on and improve.
The biggest benefit from business coaching is gaining clarity on what it is you want to accomplish. I would comfortably say that 80% of all the businesses out there are literally spinning their wheels and wasting their time and hard earned money on a business that will never make it because they do not have clarity. In any business venture I start I always take the time to think things through and hire a couple of consultants and coach. Why you might ask? Because these people will offer insight and wisdom I do not have and will therefore save me tons of money and time so that I do not have to struggle or make the same mistakes others have made.
The biggest challenge most new business owners or entrepreneurs face is being a strong leader. You might be good at your craft, but do you know how to delegate, communicate effectively, think things through, and make important yet quick decisions? Just because you know how to create your product or service, does not make you a good business leader. This is where coaching really comes into play because it allows you the time to work on specific skill sets with your coach where you can improve the types of skills you will need to lead your company to the success it deserves.
One of the biggest fallacies is when people assume that coaching is just for someone who needs help or is having problems. This could not be further from the truth. Have you ever seen major athletes, singers, performers, artists,etc…? They all have multiple coaches that work with them every day to help them improve and perfect their abilities to perform at a top level. If CEO’s and upper level management of fortune 500 companies use executive coaching as a means for them to lead their organizations with great strength and integrity. These people understand that to truly excel in their company they are going to need as much help as they can get. Even people like Tony Robbins who is considered at the top of the chain of motivational leaders uses coaching. In fact, he declares publicly that he would not have gotten to where he is without a coach.
You know what is more expensive? Spending all your time and money on a business that never makes it. To me, that is more expensive then anything else. What many small business owners fail to realize is that as soon as you decide to start a business, you are going to burn through a lot of cash the first couple of years. But when you do not make this choice consciously, this is what brings up so much stress and worry is that you begin investing and making mistakes (losing money) and then you want to throw in the towel. Just know that the first two years of your business is going to be trial and error and that you are going to burn through some cash. But with coaching, you can not only speed up the process from two years to one, but save yourself a lot of money. Sure, you will need to pay those people a good chunk of money, but if you do the math you will see very quickly that you will save more money then lose.
If you find yourself constantly in fear of spending money on your business, then you need to rethink whether or not this is right situation for you to be in. Being an entrepreneur is being a gambler. You are constantly risking your money and time in what you are doing. But if you decide to stick with it, then you need to understand the benefits of business coaching which is saving you time and money while improving your skill set of being a strong leader.