What is business coaching?
Business coaching is a specialised form of business consulting, where an individual or company pays a coach to meet with them on a one-off or regular basis to analyse problems, identify solutions, set goals, and monitor progress.
Coaching can take many forms, from one-on-one to group sessions, and can take place many times over the course of a business lifespan.
Why business coaching is important
In our experience working with businesses we find that business owners are often frightened of engaging a business coach or don’t see that the investment is going to be worth it.
They shy away from paying for an expert to help their business, but fail to realise that paying for that expert advice can actually increase their bottom line in the long run. Many people need help building their business and getting it to the next level.
A business coach can look at your business from an outsider’s point of view. Their objective stance means that they can really analyse a business without perhaps the same emotional attachment of a business owner or founder.
Whether you want to grow your business, develop a sustainable business strategy or need help with management skills, a business coach can be a great asset.
How to find a good business coach
When you’re looking for a business coach, it’s crucial to find someone you connect with. The person needs to inspire you and be invested in your success, and be in the best position to help you in your business
Before you engage a business coach we recommend asking the following questions:
- Have they dealt with a business like yours before?
- What experience do they have of your industry?
- Have they got qualifications or do they have on-the-ground, practical knowledge (which can be just as valuable)?
- If they own a business themselves, have they been in the same position as you before?
- What are some of the results that they’ve achieved for other clients?
- Have they increased profitability? Have they increased time efficiency? Have they been able to promote growth in the business and in how long?
How to get the most out of your business coaching
To get the most of your business coaching it’s best to be clear up front on what information, advice, resources and support you’re wanting to receive and what your expectations are of the business coach.
There is nothing worse than you expecting one outcome and the other person delivering something else because there’s been no discussion at the outset as to what you’re hoping to achieve.
Note some of the free business coaching programs have set time limits so it’s good to have a plan about what each session will cover and how many sessions you’ll need to reach your goals.
Sometimes you may not even need or want one-on-one or specific coaching. For instance, you may even just be able to have an impartial third party review your business plan and give you some pointers. Even small changes can be significant.
How much does a business coach cost?
A business coach doesn’t have to be expensive. There are a lot of really great free business coaches available through government funded programs and member-owned organisations like Business Australia.
Specifically, entrepreneurship facilitators are experts that can look at your business and direct you then to more resources and more specific programmes for different areas of your business.
To find out more about C2C’s current 1:1 Advisory programs, click this link https://corporate2community.com/small-biz-11-advisory-resources/