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Importance of Business Coaching

1/9/2019

33 Comments

 
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Starting a new business brings with it a number of different feelings and emotion. Feelings like excitement, determination, passion, strategy, and of course fun, will certainly come and go in waves. However, there comes a time when the business becomes too much to handle. Two things happen at that stage – either the business folds and vanishes, or owners seek out the assistance of business coaches to help right the ship. In this first post of 2019, we’re going to look at business coaching and why it is such an important element to ensuring that a business runs efficiently at all times. As we get a better understanding as to what business coaching is, we’ll look at the reasons why it is important to have them on your side. While looking at that, we’ll quell the naysayers that are out there saying that the art of business coaching is dead. Grab a seat and cup of coffee, and let’s have a learning session that you’ll surely not want to miss.  ​
What is Business Coaching?
 
Business coaches, according to Brian Tracy, are “experienced entrepreneurs and business owners themselves who decide to use their talents for building and growing a business to help other business owners reach their goals” (2019). Author Andrew Schlapia provides additional insight as to what business coaches often do. In his blog post, he wrote: “business coaches support professionals who desire major and comprehensive improvements in all aspects of their firm. Collaboration with a coach encourages breakthroughs in change, helps manage evolution, and supports the implementation of desired outcomes” (2015). In truth, the service that firms provide is actually more of a supportive role and their intent is not to take over a business they consult, but rather use their expertise to help make it more successful. In their eyes, the more successful the clients they assist, they more successful they are much in the same.
 
To be a little more specific, business coaching is a highly specialized service that consulting companies offer. Why is that the case? For starters, with every new client that a consulting firm takes on, different expectations, challenges, hopes, wishes, dreams, and dilemmas are presented that need solutions. When helping clients, their main goal is to train and mentor them. It usually begins with a meeting where the coach will gather data about the business and help them clarify a vision, so that the business can move forward on a positive path of progress. Once that has been completed, a plan and/or vision is developed and the business owner(s) work through them with the aid of the business coach. This is where the majority of time is spent when working with coaches. Once the goals have been obtained or are close to doing so, the business coach transitions into more of a consultant role to assist the owner(s) in keeping on track with the tailor-made plan. Depending on the complexity of the issue(s) being solved and the resources available to have a business coach on board, the time coaches spend with firms can be anywhere from a few weeks to an indefinite period of time. It strictly depends on how complex the situation is and the goals that the clients they serve want to achieve, and in what timeframe.
 
Importance of Business Coaching
 
Most entrepreneurs and self-starters feel that they can handle a business on their own and rely on the use of online materials as a guide to help them progress over time. It is quite common that a number of business owners feel that business coaches are a waste of time and don’t serve any purpose other than draining their wallets for advice that can be found elsewhere (Clark, 2018 & Schein, 2015). The truth of the matter, however, is that businesses big and small may need a helping hand once in a while in order to stay relevant and remain healthy.
 
Now, what are some of the reasons that business coaching is something that a company needs to have as part of their overall strategy? First off, having trusted outside sources available to help grow the business is something a lot of firms don’t necessarily have readily available. Jeff Boss, a guest writer on the Entrepreneur website, brings the point home with this quote: “Anybody can go online and find brainstorming software for free with the goal to generate genius -- that’s the science part. The “art” part, however, is excavating personal values and beliefs that you never knew existed and linking them to your desires and intentions” (2015). As they say in dancing circles, it takes two (or more depending on one’s style) to tango. Having skilled professionals available to ensure that the business stays on track is essential in the diverse business climate we’re in today.
 
Another talking point here, is the fact that one can only be accountable for themselves for so long. Sometimes, it will take a good, swift, kick in the rump from a seasoned professional to bring someone back in line to be successful. Much like a close friend and/or relative, they’re there to support, guide, and mentor their clients through applying their knowledge and expertise. They should be seen as role models more than anything else, and should be treated with the utmost respect when they have to dish more news that isn’t as pleasant to hear as positive feedback and affirmations might be (Greenstreet, 2019).
 
Likely the final point to make is the return on the investment that business coaches can provide indirectly. A common misconception with business coaches is that they are going to become a silent partner to the business and help it grow. Remember, business coaches are there to guide, assist, mentor, and support a business and not force any changes or directives. The business owner(s) receiving the coaching are free to choose what they do with the information provided by the coach. In general, Louis Mowbray cited a Fortune article where a conservative estimate of the monetary payoff from coaching, according to Fortune magazine, is that managers describe an average return of more than six times the cost of coaching” (2018). Results will wildly vary from one business to the next based on the effort of the business owner, including the amount of time spent with the coach, and the goals set to be achieved. In short, the benefits of the coach should be looked at more than the cost, provided it is sustainable for the business to budget.
 
Conclusion
 
Business coaching is an art that highly-skilled professionals embark on for the strict benefit of helping other businesses succeed. The role they take on when working with their clients is strictly to mentor the owner(s) and guide them towards making responsible decisions to grow and mature their business successfully. As it is true with a lot of things, people can go online to find tips, tricks, and guidance; however, the human touch of meeting with a professional in person is the best route to go here. Though there are naysayers out there who claim that business coaching is dead, it is far from that – it’s alive and well! That’s why Integrity MCG is here to be the business coach that you need to take your business to the next level. We offer the knowledge, skills, and training to help your business be the best it can be for a price that you can afford. Contact us today, so that we can begin to coach you and your business towards success!
References

  • Boss, J. (2015). 4 Reasons You Should Seek Out A Business Coach. Retrieved January 4, 2019 from https://www.entrepreneur.com/article/247338.
  • Clark, C. (2018). Why (Most) Business Coaching Is A Waste of Time. Retrieved January 5, 2019 from https://www.forbes.com/sites/forbescoachescouncil/2018/08/01/why-most-business-coaching-is-a-waste-of-time/#366afd90631c.
  • Greenstreet, K. (2019). What is Small Business Coaching? A Definition. Retrieved January 4, 2019 from http://www.passionforbusiness.com/articles/what-is-small-business-coaching.htm.
  • Mowbray, L. (2018). Coaching ROI. Retrieved January 6, 2019 from https://mowbraybydesign.com/coaching-roi/.
  • Schein, M. (2015). Why Business Coaching is Dead (And What Will Replace It). Retrieved January 5, 2019 from https://www.inc.com/michael-schein/why-business-coaching-is-dead-and-what-will-replace-it.html.
  • Schlapia, A. (2015). The Fundamentals of Business Coaching. Retrieved January 6, 2019 from https://www.ironstonehq.com/the-fundamentals-of-business-coaching/.
  • Tracy, B. (2019). Business Coaching: A Guide to Everything You Need to Know. Retrieved January 4, 2019 from https://www.briantracy.com/blog/business-success/business-coaching/. 
33 Comments
Anton Simpson link
3/8/2019 04:51:48 am

Business coaching is an aspect of human resource and development → which is designed for the business front-runners. It is a personalized relationship between the chairperson of a company and a business coach. Business coaching is important because it plays a crucial role in building key leadership competencies such as- strategic thinking, championing innovation, communication, networking etc. Also, a seasoned business coach can help you to address the issues of business growth and profitability, attract and retain talent, and broaden the external perspectives.

Reply
Erika Brady link
3/19/2019 07:43:32 pm

I like that you explain how business coaching can help owners grow their talents to provide comprehensive improvements. If someone is interested in hiring, it would probably be a good idea to research the different professionals that offer business coaching. This could help you learn about their methods and the improvements they offer to determine which one can benefit your talent and your company.

Reply
Gerty Gift link
3/25/2019 07:36:40 am

I liked how you talked about needing a strategy when starting a business. My friend has been curious about what he'll need to get a business idea started up. I think that getting help with a strategy would be a great way to get him started on this kind of journey.

Reply
Gillian Babcock link
3/26/2019 06:05:32 pm

My sister just started her own business and she wants to make sure that it will be a success. It was explained here that business coaches are successful entrepreneurs that can help with her business. Furthermore, it's recommended to hire a professional business coach for the best outcome.

Reply
Steav Smith link
4/30/2019 11:26:58 pm

I’m not sure where you are getting your information, but good topic. I need to spend some time learning much more or understanding more. Thanks for great information I was looking for this info for my mission.

Reply
Shawn Fredrick link
6/6/2019 06:50:34 am

I specifically hired a team of blog writers and since then my blog has shown notable improvement in the SERPs. Thanks for sharing such an informative piece of content.

Reply
Sarah Packer link
8/13/2019 08:32:02 am

My husband and I are starting a business soon, so I wanted tips and advice on training we should take. I didn't know business coaching could provide you with resources that you wouldn't otherwise get. I'll have to keep that in mind to find the right coaching program my husband and I could take while doing other errands, thanks to this post!

Reply
Jay Jorgenson link
10/28/2019 09:12:31 am

My friend wants to have a good meeting that will inspire him and other people to be better. I like how you mention is business coaching is when an experienced entrepreneur inspires other business owners to reach their goals. Thank you for the information. I'll recommend my friend to hire a professional to inspire the other people.

Reply
Skyler Williams link
11/6/2019 11:27:59 am

I like that you said that the role of a business coach is supportive. My brother owns a small bookstore and he wants to become a better boss and leader. I'll recommend that he find an executive coaching company to help him.

Reply
Dyaln Peterson link
12/6/2019 10:23:43 am

It's awesome that business coaches can help you reach your goals for your company's growth. My brother has been telling me about how he wants to start a company in the coming year, and he wants to make sure that it can be successful. I'll share this information with him so that he can look into his options for professionals that can help him with this in the future.

Reply
Austin Saunders link
1/29/2020 07:00:20 am

I like what you said about using business coaches since they can help you stay relevant. My brother has been telling me about how he wants to start a business in the coming year. I'll share this information with him so that he can look into his options for consultants that can help him with this.

Reply
Amaresh Jha link
2/10/2020 09:36:47 pm

Hey,

It’s interesting to know that what we will get whenever we hire and why we should hire them. This guide helps me in knowing things in better ways with the benefits of leadership.

Thanks
Amaresh Jha

Reply
handle painful feelings and thoughts more effectively link
4/16/2020 02:57:53 am

I had very less idea about the importance of business coaching. This article is an eye-opening article it completely opened my eyes. I am very impressed with your this article. I will definitely use your ideas. Thanks a lot.

Reply
John link
4/24/2020 03:43:37 am

Awesome note on business coaching, please review my work on best business coach at https://www.bestbusinesscoach.co.in/


https://medium.com/@bikchandani.richa/best-business-coaches-in-india-2020-best-business-coaches-for-smes-msmes-in-india-e679e73eee11

Reply
Alicia Byrne link
4/25/2020 09:12:26 pm

It's interesting of you to point out that having a business coach can actually help an entrepreneur to develop their own personal values and beliefs for their business. If I were to own a business, I would want my values to be at the core of what I'm working at so that my company can stand out from other competitors. Therefore, I would imagine that it can be quite useful actually to have a business strategy consultant to help someone drift through the many thought processes to come out on top of others.

Reply
Greg Hampton link
7/22/2020 06:04:27 am

I like what you said about using business coaching so that you can have an outside source to help you grow. My sister wants to make sure that her company can grow in the coming weeks. I'll share this information with her so that she can look into her options for professionals who can help her with this.

Reply
Zian link
8/11/2020 09:04:35 pm

hello, extremely pleasant article keep it up the great work Wonderful!! Much obliged to you for posting an instructive blog. Your posts are all the more fascinating and instructive

Reply
lyn link
8/11/2020 09:05:55 pm

Hi, very nice article keep it up the good work Wonderful!! Thank you for posting an informative blog. Your posts are more interesting and informative

Reply
kate hansen link
11/6/2020 02:53:03 pm

I loved how you mentioned that you can have a trusted outside source that can help. My cousin was telling me a couple of weeks ago about how she is wanting to look into opening up her own business in a couple of weeks, and she was wondering if hiring an executive coach to help her would be beneficial. I'll make sure to pass this information along to her so that she can look into hiring a professional executive coach that can help her.

Reply
Taylor Hicken link
12/30/2020 02:32:32 am

You made a good point when you mentioned that businesses may need help every once in a while to make sure that they will remain relevant in the market. That is why leaders need to ensure that they are properly equipped with the right skills and ability to run a company. I would like to think if a company is planning on improving its leadership skills, it should consider hiring a reliable consultant to help achieve this.

Reply
Adam Golightly link
1/21/2021 03:54:25 pm

I can see how a business could really benefit from getting the right coaching in order to grow their business. It was interesting to learn about how they can train, and mentor clients to help them have a better path to progress. It could be really for them to get some help from a professional to make sure that they can be more effective with their money.

Reply
Sandra link
1/25/2021 11:28:53 pm

Accomplishment in business relies upon an assortment of components, including ability level, exertion, market elements, and substantially more. Accordingly everybody's outcomes in an Amazon business will contrast. So no guarantees or claims are made concerning your pay potential or scarcity in that department.

Reply
Eli Richardson link
2/10/2021 12:25:27 pm

It's great that you mentioned how a business coach helps to improve your company's development. In my opinion, when you provide training to your workers, you're improving your company's heart and soul. Plus, by making them feel welcome and listened to, you'll be sure to create a good working environment that'll turn into an efficiency boost. I think you did a great job explaining the benefits of business coaching.

Reply
Chris Pederson link
3/4/2021 12:13:33 pm

I'm glad that consulting firms provide support for a business rather than try to take it over. My sister wants to start a business that she claims will change up the t-shirt market. Maybe I can find a consulting service that has experience with clothing companies and see if they can help her out.

Reply
Thomson Smith link
6/3/2021 10:01:33 am

It's cool that you point out that a business coach can help you grow your company. I want to start a company this year, so hiring a business coach sounds like a great idea. I'm going to search for a good business coach that I can use.

Reply
Louisiana link
6/13/2021 09:27:48 pm

Thank you for sharing this post, and looking forward to the latest one.

Reply
Shanon link
6/13/2021 09:29:39 pm

Great article! Thank you for sharing this informative post, and looking forward to the latest one.

Reply
Leslie link
6/13/2021 09:32:49 pm

Impressive article hope to see another post again soon!

Reply
Wajid link
7/1/2021 05:47:45 am

Thanks for sharing this blog about Business Coaching for more details visit https://madasky.com/

Reply
Braden Bills link
7/7/2021 05:47:01 am

My friend has been having a hard time getting his business put together. It makes sense that he might want to get a business coach to help with that. That seems like a good way to ensure that he handled everything properly for it.

Reply
Taylor Scrybe link
8/26/2021 02:49:10 am

having a business coach is important , In 2018 I can’t stress the importance of having a business coach enough! My Lisnic business coach saved me from making so many stupid mistakes, I don’t know how my company would’ve survived without her.

Reply
Chance Cook link
11/11/2021 03:33:57 pm

It's good to know that business coaching is actually a highly specialized service. I think a lot of people forget this. That's why they don't hire coaches and end up needing help later on.

Reply
Mia Evans link
1/4/2023 07:44:22 pm

It's interesting to know that an executive coaching program would be able to ensure that they can have professional help to ensure that they become successful in their field. I can imagine how it is worth it to invest in someone who can help them become better and learn more strategies than what they know. With the changing demands and trends in our world, it will definitely be good to catch up with the changes with the help of those who are actually trained to do so.

Reply



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    Dr. Danielle Jenkins provides insights and tips on how to strategically run your business in the most efficient manner possible.

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