Monthly Archives: December 2017

What is a Business Coach?

Is someone who can produce outstanding results in the lives of people. The only challenge is that so many people are calling themselves business coaches. Some of these people are not producing positive results. Please read these guidelines before hiring your next business coach: What are the duties of a business coach? What should I expect from a business coach? Who needs a business coach? What is the fee for a business coach? Do you have to attend a coaching school to be an effective coach? What about online coaching?

  1. What are the duties of a business coach? : Is someone with an expertise in certain areas such as staff development, marketing, goal setting, organizational development, and implementing seminars/workshops. Sometimes the duties might include roles as a counselor, sometimes a mentor that produces magnificent results in a business.
  2. How can a business coach increase my business?: It depends on the business; some companies that I work with might have to focus on the marketing, or providing sales training, or work on a time management system, GAPS, to produce results in their business.
  3. What should I expect from a business coach? : If you hire the right business coach, they should be able tell you how much your business will increase. It could be anywhere from 10-25%. They also need to walk their talk and give a 100% money back guarantee. If they cannot guarantee it’s best to continue looking for some who can walk his or her talk.
  4. Who needs a business coach? : Anyone who would like to increase their business, anyone who would like a better life. Anyone who would like to leave a legacy for their family.
  5. What is the cost? : It depends on his or her expertise. Some coaches charge $150.00 to $250.00 per session. Some coaches have a package price per year program. Executive Business coaches charge around $400.00 plus per session and sometimes a back end percentage for the increase of sales from 8% to 25% annually.
  6. Do you have to attend a coaching school to be a good business coach? : Not really; although some people preach about how coaches need to be certified in order to become a coach. I can respect that option. I would rather see a money- back guarantee, and how much a person can increase my business then someone going to a fancy coaching program.
    7. Online coaching: This is one of the best methods of coaching. Most online coaching will give you a game plan and something to accomplish on a weekly or ten day basis. This coaching is great for people that live out of town or in another country. This coaching process work just as well as face to face coaching does. The online coaching usually runs for 30 to 60 minutes. It’s more of a specific way to get results. The best way to produce results with online coaching is to sign up for a 90 day or three month coaching session until you get the results you must create in your business or personal life.

Why Getting a Business Coach is a Good

Recent studies have proven that business coaching is an up-and-coming industry – the second-fastest growing industry in the world. Business coaching is just like sports coaching – like a sports coach coaching an athlete and trains them to get better, business coaching not only helps businesses establish organized plans for every challenge they come across, it helps set those plans in motion.

Business coaching is just like sports coaching – like a sports coach coaching an athlete and trains them to get better, business coaching not only helps businesses establish organized plans for every challenge they come across, it helps set those plans in motion. Companies that have business coaching tackle challenges with a plan and business strategy from the business owner’s view and an outside view: the business coach. This way, the business owner can achieve all he wants.

Here are some general statistics about business coaching today:

“Annual spending on executive coaching in the United States is estimated at $1 billion.” – Harvard Business Review, November 2004.

“Use of coaching is widespread in UK organisations, with almost nine in ten respondents reporting that they now use coaching in their organization (88%).” – University of Bristol Newsletter, 2005.

“The Australian Institute of Management says 70% of its member companies hire coaches.” – Inside Business Channel 2, July 2006.

“A recent study estimates that 40,000 people in the U.S. work as coaches (work or life) and the $2.4 billion market is growing at a fast-paced 18% per year.” – MarketData Report, 2007.

“Coaching is the second-fastest growing profession in the world, rivaled only by information technology.” – National Post, April 2007.

What Do These Statistics Mean?

The statistics and reports don’t lie – business coaching is not only a fast-expanding industry, it’s expanding because it’s a successful industry. Just like sports athletes have to keep ahead of their competitors with a coach, business industries, especially in this recession, are getting extremely competitive.

Think about if a sports athlete didn’t have a coach. He might keep doing the same things that have worked for him many times before, and he might be fine for a while. But eventually, since he’s doing the same things and not necessarily getting better at his sport or his skills, the competition will surpass him.

It’s the same thing with business. With all the industry changes, innovations and management strategies, business owners can’t keep doing the same thing they’ve been doing. Eventually competitors will leave the company in their dust, so to speak.

It’s even true with the big brands – McDonald’s, Starbucks and Coca-Cola are constantly ahead of the game and dealing with challenges. Especially in the recession – how many brands that used to be around (Fannie Mae, Bombay Co., Circuit City) aren’t anymore?

When it comes to a company’s competitors, business coaching is a sound investment in your company’s future because it keeps you ahead of them.

It’s still a relatively new business industry, but the statistics don’t lie: business coaching is fast-becoming a great investment because it keeps the company ahead of competitors.
Business coaching is the second fastest growing industry for several of the following reasons:

– Business coaching helps increase staff and business performance. Coaching develops the best qualities of people and teams, making the most of everyone’s qualities and significantly increasing productivity, making the most of everyone’s talents and skills for the company.

– Business coaching enables owners to motivate their staff. Coaching helps people to work to their utmost potential, increase their self-esteem and thus raise the quality of their work and increase productivity at the same time.

Do You Know How to Choose a Business

Businesses, like yours, at various times need guidance. It could be that you are experiencing new growth and you need help in adjusting. It could be that your management team is young and inexperienced with the demands of their positions. You might need help keeping focus on your goals for your personal and professional life. The point being is that there are many reasons to select a business coach. The ultimate question is do you know how to choose a business coach at all?
When should a business choose a business coach? To answer this question you first have to ask yourself a very important question of your own, “Is my business and/or I am ready to be coached?” The question of when is answered by you knowing if you are ready to be coached.
Business coaching is a process and method that will challenge you and your business to be better than it already is and to reach for the unreachable. A coach does this by being an objective observer, asking uncomfortable challenging questions, and laying down fundamental plans double hold everyone accountable. So if the business is not ready (or if it is you) to be held accountable, challenged, and face the uncomfortable observations then it is not ready for a business coach. If you and your business have decided your ready for coach then you have already crossed the largest hurdle in your search. So what else should you look for when you search for a business coach?

There is no cookie-cutter approach to searching for coach for your business. Yet, but there are some standard criteria that you should use. Here are just a few of them:

  • Do you get along with the coach?
  • Can the coach explained to you what they can cannot do for you?
  • How accessible is the coach to you and your team?
  • What expectations does the coach have for you?

Of course there are many other criteria that go into selecting a business coach. There are countless blogs, websites, and brochures that can give you other questions you can use in your search. Let us go through in detail the four listed above.

You are going to be spending quite some time with your coach. So you better like them. Here is a tool that you can use when you are interviewing your coach. Imagine yourself on the longest road trip you have ever taken for your entire life. We have enough fuel, food, and no need for rest stops. The only unfortunate problems that you have on this road trip is that there is no radio, no rest stops, and it is just you and the coach that you are interviewing. You are alone in the car with the coach. You both know that this trip will take at least one month to complete. If you cannot get along with this person in the first few minutes, that is going to be one very long road trip. No no matter how many degrees, books, and clients this coach is served if you like him you are not going to listen to him. Is that plain and simple.

If your coach has passed the car test, the next test is basically simple common sense. While every human being on the planet believes they all know the answers to everything, the reality is that we all know that is not the case. When it comes to business coaching is important that your coach can give you in great detail what they can do for you. It is even more important that they give you in greater detail what they cannot do for you. If your business is suffering from poor acquisitions and mergers than you want to know if your coach has experience in those particular areas. It would be a disservice to you and your business if you hire a coach that is excellent at executive committee cage and in public speaking for job they have no experience in. At a minimum that make the problem worse than it already is. Any coach that cannot detail what they cannot do for you is not worth hiring and you are better off containing your search.

In your search for business coach you will mostly come across the infamous, the famous, and notorious better part of this industry. That being the case it is important for you to know how open and accessible they are to you and your team. A coach that is difficult to get a hold of is not worthy of your investment. Would you hire a business coach they should be dedicated to your team and to ensuring that you reach your goals. How can a coach hold you accountable to the plans that you have both developed that they are not around to watch you put them into action? Quite simply it is difficult for them to do that.

Would you hire a business coach they will have expectations for you and you will have expectations as well. In your interviewing process for business coach you need to be honest with what your expectations are. For instance, if you want to turn a flagging organization from a poor performer to a multimillion dollar business in two months, then it might not be realistic for your coach to be that expectation. Another example, your management team is having problems communicating with each other and spend their time pointing fingers. Are you hiring your coach to be a referee? Or are you hiring your coach to improve teamwork and communication skills? Without knowing what your expectations are your coach and you may devise a plan that does not solve your problem or need. Coming to an agreed expectation is important for any successful coaching relationship.

When a coach meets your expectations, aligns with your desired goals, gets along with you to provide honest feedback, and is on call when you need them, you will find that you and your business team can achieve the unachievable. A business coach can provide actionable plans that keeps you accountable and focused on obtaining your goals. A business coach can be an integral part of any team. Many business coaching relationships have become part of the many small business and corporate success stories across the globe. If you are careful and take your time in selecting a coach you too will experience success.