Are business coaches worth it? - Phil Drinkwater Coach

Are business coaches worth it?

Running a business is like running a marathon. You have to be constantly moving, adapting and learning in order to be able to progress. A business coach can help you reach the end post.
What we'll cover

Why coaching is important

Many business owners feel that they can’t afford a coach, or don’t know how small business coaching can help their company grow. It’s sad, because coaching is not only for the small business owner who has a lot to learn. It’s for anyone who is struggling to find the right solution to their problems and is seeking someone who can help them develop.

In this article I’ll explain why business coaching is so important in delivering better results and increased profits.

What is a business coach?

The truth is that there are many different types of business coaches, and depending on your circumstances, you can find the right one for you. Broadly speaking there are three different types:

Life coach – Someone who helps people improve their life and work, often after a significant life change. Life coaching is an element of many business coaching relationships.

Coaching is proving to be a very popular method of growing your business, with over two-thirds (68%) of business owners saying they believe coaching provides them with a significant boost to their business.

Executive coach – Also called corporate or career coaches, these help professional people to manage stress and fulfil their potential in the workplace. Executive coaching can also help to make the team more successful by ensuring they are valued by the business leader through improved communication skills.

Entrepreneurial coach – Help entrepreneurs to overcome problems that are specific to being an entrepreneur, like how to take big decisions or deal with a lack of motivation.

Who should use a coach?

There is no rule as to who should employ a business coach. It can be a great help to anyone, including:

  • Business owners who are frustrated with their current situation and need a different approach.
  • Those who want to develop their business and see how it can grow in the long run.
  • Entrepreneurs who want to develop their business but don’t have the time or knowledge to do it themselves.
  • Small business owners who are finding it hard to cope with the demands of their business.
  • Directors of larger companies who want to develop their leadership skills or give them more time to think strategically about how to deliver success for the business.
  • People who want help in managing their teams better and taking on a mentoring role.

Responsibilities of a business coach

As a coach, your main responsibility is ensuring that the business owner is successful in achieving his or her goals – which may be outside of what they were expecting. That means you need to work with your clients to plan how they will achieve these goals, and review progress regularly along the way.

But you also need to have goals in the first place, and few businesses truly have a path. A business coach will help the business owner to create a plan which is in line with their desires as a person, creating happiness in the coaching process.

There is more to business coaching than just planning. A coach will also look at their clients’ behaviour and state of mind in order to identify any problems that could be hampering their progress. For example, they may see signs that the owner is not taking enough time for themselves or their team, as well as signs that the business owner may be prone to avoiding challenge or personal growth.

By understanding this, a coach can help them make changes that could result in better business performance and business growth.

What should I expect from a coach?

There are many benefits to working with a business coach for your company. A good coach can help you:

  1. Work on better communication, teamwork and relationships with your employees. This will not only make work easier, but also improve trust which is very important for a business. You’ll find that staff tend to be more motivated when they feel they have more say in how things work.
  2. Transform your business into something that is more efficient, streamlined and profitable. A coach will provide you with valuable insight that will help you to look at the way you do things in order to make any improvements that could save you time or money, or simply improve the quality of your products or services.
  3. Help the owner to think about the future of their business. As a coach, I help my clients consider how they want to develop and grow their business in the long term, rather than just looking at what needs to be done next week or month. This helps them to see where they want to be in the next five or ten years.
  4. Develop ways that can help you deal with the obstacles and problems that you face as a business owner. Coaching will also help you work on your ideas more effectively so that you can achieve your goals with a minimum of stress and worry – essential if you want to grow your company without burning out yourself or your staff.
  5. Look at your business ideas in a new light and help you make a real change for the better, which will help your business in the long run.
  6. Help you to maintain a good balance between work and life outside of the company. This is essential if you want to be able to lead your company well and make a good impression on your employees, clients and customers.
  7. Reflect on your service or product – how can it be improved? What are its strengths? How can you improve them? Think about what makes customers click onto your website in the first place, and how you can make that even better. Think about what problems it solves for people, too.
  8. Help you to learn new skills that will make you more confident in the future. This could be anything from making presentations, or improving time management skills, or even building your self-esteem so that you feel happier in yourself.

What are the most common problems businesses face?

Here’s a list of problems that we find businesses struggle with on a regular basis:

They have good intentions but don’t know how to put them into practice. This is called being ‘paralysed by analysis’ or ‘paralysis by choice’.

They want to grow their business but fear taking action. Fear can be a great motivator, and some people find that when they have fear to use as motivation, it drives them forward. This will push them to start the business, but then they reach a stage where they want to slow down again.

They find that when they get an idea it’s exciting at first and then cools down; then another one comes along. It’s easy for their ideas to fall by the wayside so that something more exciting and urgent takes its place. This is called ‘undirected purpose’.

They are working on something that they don’t enjoy or are not motivated by – which means their results will only be mediocre.

The coaching relationship

It’s essential to find the right coach; someone who understands your business and what you want to achieve, yet still has the skills and experience to help you move in the right direction. It’s also important to have truth, mutual respect and honesty .. and someone you “click with”.

A good business coach will often offer a discovery call in order to evaluate this relationship before signing up for a coaching program.

How do coaches work?

Most coaches combine coaching exercises with a coaching session to evaluate the results. During the coaching session, the coach will help you to identify your own points of resistance and help you move through these blocks. You will begin to generate your own solutions and find your own way forward.

The goal for a business coach is to help you reach a place of feeling in control – a “place of inner clarity and peace”, which can be described as ‘self-empowerment. This is where people are able to make changes that they couldn’t make before. It’s also known as the ‘state of flow’ because it’s like being on automatic pilot – when things are happening automatically and easily, without too much effort or stress.

About my business coaching practice

I work in the realm of online coaching, and my goal is always to help create a more happy life for the stressed out business owner who is struggling day to day but not achieving growth. The outside perspective that I offer can help them see solutions that had not occurred to them.

I often work within cities which large business centres like London, Manchester, Birmingham and Leeds, although a also take on international clients and smaller towns in the UK.

I may be the right business coach for you if you believe personal development will generate business success.

I don’t offer group coaching to coaching clients.

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