Why Every Entrepreneur Needs Business Coaching
Drive. Grit. Risk-taker. Problem-solver. These attributes, common among entrepreneurs and
many business leaders, undoubtedly play a critical role in growing a business. But what else
might it take to realize success? Entrepreneurs’ desire for independence can certainly be a
driving force. While the courage to go it alone can lead to progress, often success is best
achieved with the guidance of a trusted business coach.
Business coaches use their skills, experiences and proven strategies to help others reach their full
potential. Small business owners and corporate executives alike are increasingly utilizing
business coaches as a method of professional development. According to consulting firm Korn
Ferry (formerly Hay Group), 40 percent of Fortune 500 companies are now working with
executive coaches. These companies recognize something very important: leaders can improve
productivity, increase job satisfaction and create greater value within their businesses by working
with a coach to learn and implement best practices.
Learn from their experiences and proven strategies
You don’t have to reinvent the wheel! An effective coach is typically also an entrepreneur and
business leader with proven success strategies. Building a business is a challenge for even the
most competent entrepreneur. Learn how to meet those challenges from a seasoned business
leader, who faced the same roadblocks and continued to press forward. Find a coach who can
guide you through best practices and steps that will grow your business.
Many coaches help their clients both professionally and personally. We all know our personal
and professional lives are never completely separate. Success at work influences who you are at
home, and the same goes for failure. A coach helps you balance both. An objective observer
can spot behavioral patterns that keep you from realizing healthy balance.
Save time and money
If you’re hesitant to pay for coaching services, consider this. The first thing most coaches do is
point out areas of your business where you could be saving money. Instead of wasting time with
trial and error, save time and money with a coach who can help you see the stumbling blocks
down the road and identify inefficiencies.
As a business leader, you’re at the top of the chain of command and often thinking of big picture,
long-term goals. This can isolate you from constructive feedback, distract you from focusing on
needed improvements and leave you holding everyone other than yourself accountable. It’s easy
to get so caught up in your own busyness that you aren’t really accomplishing anything. A coach
can confront you when you’re unproductive and hold you accountable.
Business coaches serve as a direct link between their clients. By being a member of an exclusive
club or attending coaching conferences, you have networking opportunities with other
professionals and can make connections that can lead to growth.
Find the right coach
Your business coach must be someone you trust to advise and guide you. When looking for the
best fit, do some research. Ask your professional network for recommendations. You might
consider attending a conference to hear from a coach firsthand. Get to know a prospective coach
as much as possible before bringing them in.
You can meet and learn more from some of the best business coaches in the country at J.D. Frost
& Company’s NoogaCon. This event, specifically designed for entrepreneurs and emerging
business leaders, will also include networking opportunities.