Is Business Coaching a Waste of Time and Money?
Definitely not!! But it is true that many people have had bad experiences or “wasted time” with a business coach.
The problem is that many business coaches or coaching programs are focused on mindsets, motivations, or emotions. They are not focused on implementing proven best-practice strategies, systems, and actions that actually grow a business.
As with anyone, a business owner has to be motivated to improve. But, having a dream, being motivated, and shouting for everyone to hear is not enough. Many business coaching programs focus the vast majority of their time on trying to motivate the business owner and discussing how he or she feels. Everyone’s motivation goes up and down day-to-day, and their reason for being motivated can change over time, but this is not what business coaching is about. In many cases, business coaching has become a pseudo-counseling for entrepreneurs needing someone to unload concerns, someone to understand them or help them feel not so lonely owning and growing your business. As a former therapist, I know there is value in counseling or therapy, but that is not what business coaching is meant to be.
Owning a business is more than just being motivated to succeed. It is about working smarter. It is about constantly improving and developing better marketing, sells, processes, and maximizing resources. Effective coaching absolutely has the ability to transform your business. Business coaching is helping real business owners understand real business issues in new ways, find breakthrough ways to deal with the issues, and implementing proven processes and strategies for real results. These processes and strategies can be complex and take time to implement properly; this is where coaching is important.
Common benefits clients get:
- Objective Perspective (identify problems, solutions, strategies)
- Probing Questions to Face Your Reality
- Mapping Out and Implementing Vision
- Goal Setting
- Improved Interpersonal Skills
- Understanding Strengths and Unconscious Incompetences
- Better Prioritization and Focus
- Better Accountability and Implementation
- Improved Profitability