BUSINESS COACHING FAQ(Frequently Asked Questions)
What is a business coach?
A business coach supports business owners in running their businesses by helping them clarify their vision and how it fits with their personal goals.
Business coaching is a process; it transforms a business from where it is now, to where the business owner wants it to be.
Why hire a business coach?
If you have harboured a feeling of frustration at not seeing the results you want in your business, then it could be time to talk to a coach. A business coach will help you identify what you are trying to achieve before utilising their unique skillset to uncover what is really holding you and your business back.
This impartial, external view enables you to see things that you may have simply missed. It can be uncomfortable at first but once you let go the transformation will amaze you.
What is business coaching and mentoring?
Business coaching is focused on solving specific challenges within a business; growth, sales, culture etc. A coach works with business owners to identify and set goals. Working in partnership the coach introduces frameworks that enable the business owners to develop capability in their business and achieve their goals.
Mentors on the other hand draw on their experience and provide more of a sounding board. They are more likely to offer anecdotal advice although should stop short at telling you what to do.
A good coach will change roles between a coach, mentor and a consultant to best support the business owner.
What does a business coach do?
You can expect an initial exploratory conversation to ensure you have a synergy and could work together. This should be free and is the opportunity to explore how a coach works and whether their experience and skills would be of benefit to your business.
Once you embark on the journey the first session will focus on identifying what is going on with you and your business; where do you want to be? Where are you currently? What is holding you back?
As these questions begin to be answered projects are developed that will tackle the real challenges you are facing. These are designed around the individual business to deliver their unique vision.
What makes a good business coach?
There are different types of business coaches; many hold formal training accreditation whilst others do not. Some follow a strict process whilst others draw on experience and knowledge to shape the journey.
Fundamentally, a good business coach should help you visualise and achieve things that you did not believe to be possible.
You should speak to more than one coach to explore how they work and ensure there is a synergy with you.
What can i expect from a business coach?
You can expect to be challenged, learn about yourself, your business and even have fun along the way. A business coach is supporting you in identifying and realising your vision and ambitions.
A business coach will hold you accountable ensuring that you are doing those jobs that you know you should do, but never get around to.
As part of the process, you can expect a coach to free up your time away from day-to-day tasks and focus more energy on strategic growth.
One of the principles in coaching for me is helping business owners create something that can run without them. This transformation is extraordinary and delivers real feeling of freedom.
How can a business coach help me?
If you can honestly say your business is where you want it to be and is supporting you live the life you desire, then you probably don’t need a coach.
Most of us have not reached fulfilment in our work life balance. There is something missing that we cannot always put our finger on.
Working with a coach will draw out that conversation and help you achieve your real goals.
What to look for in a business coach?
Synergy, this is a personal relationship; you must work well together. Some coaches are very corporate, others are very informal. They all have different styles and approaches; some focus more on business systems and others are more focused on the personal journey.
You need to find a coach who works the in the manner you do.
Personal recommendations are always a good place to start. Qualifications and accreditation are also valuable to demonstrate a level of capability and experience.
How much does a business coach cost?
This will vary depending on the coach, the size of your business, the frequency of coaching and several other factors.
Some coaches work on a monthly retainer model charging between £500-£5,000 per month for ongoing support and advice. Others will operate on a project-by-project basis, delivered at a fixed cost.
The important thing is that you can see the value of the investment you are making; working with a coach should improve your business and personal situation. The value placed on that is individual depending on your circumstances and expectations.
A coach may deliver you an extra £100k in profit or an additional 20 hours a week to spend with your family. The value in coaching is the price you would put on the outcomes you desire.
How to find a business coach?
Recommendations and introductions are tough to beat. A coach should be able to demonstrate they have successfully worked with businesses like yours and delivered the results that the business owner(s) are looking for.
There are a number of coaching associations/professional bodies who have member directories; for example The Association for Coaching.
It is always free to have an initial conversation, as such engage a couple of business coaches and test the water. You will soon discover who you could work with and the benefits that would bring.