Skip to main content

Why should Business Owners hire a Business Coach?

As a business owner you might wonder – what is the benefit of having a business coach?
Running a business involves a lot of hard work. Also, you might think you are headed in the right direction with your business, and you have all the answers. But as you go along, you realize that there are challenges that you can’t resolve.
No matter what stage your business is at, a business coach can help. Here are some ways in which business coaching can help an entrepreneur or a start up owner.

 Business Advice
Base on his own expertise and years of experience (that business coaches usually bring to the table), a coach can provide you valuable advice, and ‘tricks and tools’ to handle various challenging aspects of the business.

 External Perspective
A business owner can may think he has a great business idea and the right strategy to back it. But it is always beneficial to have someone as a sounding board – someone who can provide feedback on your strategy and plans, or offer alternate solutions.

 Making the business owner ‘uncomfortable’
One of the ways a business coach can actually help a business owner, is to pull him out of his comfort zone. This means compelling him to stretch on his business goals, and trying new things that the owner hitherto has not tried. The tougher objectives and the new initiatives will ultimately help the business move closer to becoming lean, trim and fit.

Change Management
A coach has an external perspective towards an owner’s business. Once he has studied the business inside out, he has the competency to identify what aspects of the business need to change. Furthermore, the coach can actually support the owner in managing the change.

 Friend & Guide
It’s always good to have someone who is a   business best friend. The owner gets the attention he needs from someone who has learned his business inside out. Rarely does the owner have the pure focus of a person for an hour talking about his business and giving him a finite number of steps to take to take the business to the next level.

 Increased Productivity
A coach helps the owner maximize his potential, and unlocks a source of productivity that the owner wasn’t aware of.

 Transform  the business into a professional enterprise
Every good coach has a process. With a coach, the owner can define his business vision, formulate a business strategy and plans, set goals and review and accountability structures. A coach will help the owner percolate of this through the Organization. The business will then look as one with a shared vision, a clear direction and strategy. This will have a significant impact on the employees in terms of their morale and productivity.  

 In doing all of the above, what the coach is essentially helping the business owner with, is impacting the business profitability.
Labels:

Comments

  1. Shankar Sahay18 August 2020 at 22:56

    Heartiest Congratulations for a well researched blog. Keep up the good work

    ReplyDelete

Post a Comment

Popular posts from this blog

The Differences between Coaching, Mentoring, Consulting and Training

In life, we all can do with a helping hand, or a shoulder to lean on. or a light to shine on our path ahead.  Fortunately a large number of people are available to help us, and they fulfill different roles. One can sign up for Coaching, Consulting, Mentoring or Counselling. But the key is to know what will be most suitable. And in order to be able to choose from one of these it is important to know the differences  While each Coach, Mentor and Counsellor is different, the framework for each approach is established.  Rules within each framework offer insight into what is available for someone looking for a helping professional. Knowing which might serve you in your personal pursuit toward success is helpful. With the above context, it is important to not go ahead and hire a coach when the need is to work with a Counsellor or a Consultant.  So before an individual toys with the idea of working with a Coach, it is important for him or her to un...
Post a Comment
Read more

What is 'Coachability'?

Working with a Coach can transform the way you live life - any aspect of it, be it your career, relationships, health and so on.  If you want take immediate action that can help you bring about ling lasting change in your life, you MUST hire a Coach. A Coach will be your partner who will help you bring about that change. You coach will work with you to identify where you are in terms of any particular aspect of your life (current status), where you want to go (goals), and how to you accomplish those goals (the specific action steps you need to identify and follow) Will coaching work for YOU? The answer is if it has worked for millions of people across the globe, changes are you WILL benefit from coaching. However, one critical aspect needs to be examined first, which is critical to the success of coaching. And this is 'COACHABILITY" Coachability - simply put is whether you are 'coachable' or not or simpler still - can you be coached or not. Isn't everyone Coachable...
Post a Comment
Read more

Coaching Can help Your Business in The Current Scenario

If you are the owner of a Micro, Small or Medium sized business, chances are that you have been significantly impacted in the current Lockdown situation.  The big question is what's next for your business?  Obviously as an owner you cannot sit back and wait for things to happen. The need of the hour is to sit up, take charge of the situation, and act. The first priority for you is to draw up a business continuity blueprint for your business. You need to do this NOW, notwithstanding the fact that  that demand could take anywhere from a quarter or more to revive, d epending on the sector.   Nearly all companies are in the middle of what they describe as “scenario planning". Some of the key aspects of business operations that require planning and execution now, even if the business starts moving (demand for your product) a little later, could be Supply Chain  Strategizing around securing the supply of key raw materials. Manufacturing Keeping in ...
Post a Comment
Read more