Regardless of how old your business is, its industry, type or size with the right support and guidance it can become more productive and best of all more profitable. One of the best ways to unlock this potential is by hiring a professional Business Coach.
What Is The Purpose Of A Business Coach
The main goal of a Business Coach is to provide support, expertise and the necessary tools and advice to help your business achieve its desired results.
A Business Coach aims to facilitate a shift in strategy, culture and alignment within the business to assist in overcoming any current road-blocks or weaknesses while also focusing on maximising your current strengths.
Top 10 Reasons Why You Need A Business Coach
Feeling like your business is in a bit of a rut? Can’t seem to find enough hours in the day? Have some ideas but just not sure how to get them off the ground? Getting a business coach is one of the best ways to push your business to the next level. Our top 10 reasons why you need a Business Coach are to:
- Boost Motivation. Thinking big could be a little overwhelming at times, but with the help of a Business Coach you are more easily able to see the bigger picture and push out of your comfort zone – this means getting the motivation when it's needed.
- Facilitate Growth. One of the biggest benefits of a Business Coach is their ability to help you grow your business. A Business Coach creates an environment where all ideas are welcome, and acts as a sounding board or filter guiding you through your ideas identifying those that are likely to be productive.
- Increase Overall Profitability. One of the most important reasons why most businesses will hire a Business Coach is the desire to increase profitability. A good business coach will be able to help you identify potential for greater profits whether it be relating to advertising, marketing, sales, time management, team building, or staff etc.
- Improve Leadership Skills. A Business Coach as an outsider is more able to see holes in your leadership skills and style that can be potentially negatively affecting production or the people that work with you. Identifying these issues can be confronting but it will reduce the likelihood of a negative workplace culture or low morale among staff and management.
- Gain A Better Perspective. Sometimes when you are up to the eyeballs in what seems like organised chaos unbiased advice can provide much needed perspective for you to gain clarity – allowing you to reach a deeper understanding of the situation.
- Identify Confidence Issues. A lack of confidence can be a major cause of an under performing business. A Business Coach will aid in identifying areas that are lacking and work towards minimising your concerns and maximising your confidence.
- Get Complete Honesty. A Business Coach is going to give you an honest expert opinion from an outsider perspective even if that means being brutally honest – much of which you may not want to hear. By doing this they will hopefully help you redirect the company towards a more preferable outcome.
- Help Set Priorities And Keep Focused. Too much work and not enough hours in the day? A Business Coach can give you the tools to help manage stress and lighten the load. They can help you identify priorities, focus on the task at hand and learn to delegate better.
- Increase Accountability. While it is easy to break promises we have made to ourselves, when someone else is standing by expecting feedback and results it is much more difficult to procrastinate.
- Get Unbiased Guidance And Reflection. Reflection is one of the most valuable behind the scenes strategies for building your business. A Business Coach is the perfect person for helping you review what’s working and what isn’t, while also considering what changes you might like to make moving forward.
Business Coach Versus Mentor - 3 Main Differences
Sometimes there can be some confusion about the difference between a Business Coach and a Business Mentor, both Mentors and Business Coaches offer many benefits to businesses, sometimes in very similar ways which is why the term is often used interchangeably and why some people offer the two services simultaneously. However there are three subtle differences between a Business Mentor and a Business Coach, they are:
- Formal Versus Informal. Business coaching is often a more formal arrangement set for a pre-determined period of time while mentoring is usually a long-term process based around developing a more informal yet substantial business relationship.
- Industry Specific Versus General Knowledge. A Business Coach tends to have a wide experience base to draw from and does not necessarily have direct experience in your specific type of business or industry. But one of the top priorities when choosing a Business Mentor is that they have first-hand experience in your line of work.
- Short Term Vs Long Term. For a Business Coach improving performance and success are top of the list when focusing on the current business situation. A Business Mentor tends to be more focused on the longer term situation.
A Business Coach has the ability to assist your business in improving your return on investment and overall efficiency helping to remove any current barriers to your success. For more information on what a Business Coach could do for you give the professional Business Advisory team at Integrity Advisers a call today.