Category Archives: Business

The Significance of Being a Business Coach

You are the key! As a business coach you are needed by executives to help them know what their goals are and to put those into action. You are there to guide them in their journey of becoming the best leaders of the economy. Let’s take for example Michelle Woodward, an Executive Coach and Career Strategist. For over 9 years she had been taking on all the places where people get stuck and de-stuckifies them. She has been constantly helping business owners to overcome struggles they are facing and excel in the corporate world.

According to Lori Follmer, “Michele is an incredible coach and business consultant, who is constantly seeking to think outside the box to help her clients get the best results. She is continually challenging herself to learn new things that could give her the ability to help her clients move forward in a positive direction. She is very personable and flexible to meet the business needs. I highly recommend her.”

Being a business coach requires unbiased attention to details. You are a consultant for many reasons. Business owners need the help of a coach to develop long-term and short term goals and strategies, as well as improve their businesses in areas that they might have overlooked. A business coach will make it possible for executives to thrive, to conquer the obstacles they are facing in their daily business dealings.

As the world of business moves faster and gets more competitive it is difficult to keep up with both the changes in the industry as well as the innovations in sales, marketing and management strategies. Having a Business Coach isn’t a luxury executives don’t need; it is a necessity a business must have. They must know the truth and only a business coach can tell it to them, even if they don’t want to hear it. Below are some reasons why a business coach is important to business owners.

  • A Coach can help them see the forest for the trees.
  • A Coach will make them focus on the game and their long-term strategies.
  • A Coach will make them run more laps while making each round easier and more efficient.
  • A Coach will tell it like it is.
  • A Coach will give them small pointers based on years of experience.
  • A Coach will listen.
  • A Coach will help them develop long-term plans that will allow their businesses to function more efficiently and make more profit.
  • A Coach will be their marketing manager, their sales director, their training coordinator, their partner, their confidant, their business mentor, their best friend… and, a BUSINESS COACH will help them make their dream come true.

High performance and success are a result of choices, like the choice many are making to engage a personal business coach. You are equipped to support the needs of business owners in terms of growing leadership skills, improving communication, managing effectively, organization and efficiency, dealing with difficult people, creating career strategies, addressing burnout, starting a business, and finding deeper meaning and purpose.

Tips on How to Choose a Business

No matter what field you are in, you can benefit from the services of a coach. You should look for a coach who is good at streamlining your production improving the marketing initiatives. This is important for the overall success and survival of your business. Given below are 9 tips that can help you find a fine business coach. Read on.

Industry associations

For business coaching, the Worldwide Association of Business Coaches, aka WABC, is on the list of professional coaching associations. The membership of this association is selective, which is allowed based on the professional responsibility, integrity, ethics, and eligibility requirement, just to name a few.

Trusted sources

You should consider trusted sources as well. You should get recommendations from reliable services providers, such as business providers, HR advisors, bankers, financial planners, accountants, and lawyers.

Your needs

Business coaches are good at a lot of topics, such as corporate profitability, turbulence tolerance, and emotional intelligence. What you need to do is find out the areas that you need help with and then look for a coach who meets your needs.

Interview potential candidates

You should interview potential candidates thoroughly. This will help you find a good match. This decision is as important as choosing the right lawyer or financial advisor.

Interview questions

You should get detailed answers to your questions during the interview before you choose a good coach. Make sure you ask about their business backgrounds, coaching experience, credentials, coaching style and so on and so forth.

Working style

Just like any other professional, business coaches have a certain coaching style. You have to find out how they do their business. Do they use the phone, email or discuss business matters in person? Find out how much do the professional charges for their services. Actually, what you need to find out is if the coaching style of the coach suits your needs.

Get references

You should ask the potential coaches for some references. You should then contact their clients in order to find out if they had a great experience working with the coach. As a matter of fact, references is a great way of finding the right professional.

Follow your gut

Good relationships are based on quality feedback, support, honesty, safety, and trust. In the same way, the same things should be the building blocks of your relationship with your coach. Once you have interviewed the coach, you may want to find out how you felt about the coach during the interview.

Mutual roles

You should get a good understanding of the role you and your coach will play. With the help of a good professional, you can develop your resources and capacity in order to deal with the many challenges down the road. This way you can make your important decisions on time.

A Business Coach Can Quickly Build Your Success

So you’re wondering – What’s all this hype about coaching? What exactly is it and how can it help me? Great question! The term coaching in general stems from the sporting world. Sports teams and the athletes alike found that in order to bring about the highest degree of performance in a sports team and its individual athletes, they needed to be coached. Coaching in the sports realm has helped in many positive and wonderful ways. In a nut shell it equipped the coach with precise skill sets to help hone in on athletes strengths & identify weaknesses. It allowed the coach to than assess the situation and provide clear cut strategies and solutions to help create greater improvement in all aspects of the athletes. Team applications were also a major benefit to the team as a whole. Decision-making became easier, overall team performance increased and the motivation of all the team’s members involved, catapulted.

Nowadays no sports team would survive without the help and support of a good coach. In the business world, why should it be any different? Coaching is now being recognized as a vital and very powerful business performance tool. Just like sports, business is extremely competitive. There are millions of people who are competing and looking to win over the same customers as you. To be a great success and create the wealth you truly desire, it is imperative that you learn how to create a unique identity for yourself and learn how to effectively differentiate you and your business from the vast competition.

Most of the very same principles that apply to creating a well rounded athlete, also apply to creating a well rounded business, executive and entrepreneur. Like successful athletes, a business person who’s interested in becoming the best of the best, must also hone in on their strengths, have their weaknesses identified and know exactly what they should be doing to bring about their desired results. The business coach will implement business applications which will contribute to your financial benefits, as well as significant intangible benefits. If I were to ask you what you thought were the three things that people wanted most in their lives, what would they be?

They are; more money, more time & more fulfillment.

You probably guessed it, right?

It shouldn’t be surprising to see that most people often desire the same things as you and me. A qualified coach knows precisely how to turn these dreams & desires into very real realities. A good coach will work with you to isolate and overcome obstacles, sets realistic and achievable goals & create action plans that bring about solid & expected results.

What Business Coaching is not:

Business coaching is not the same as business consultancy or training – In consultancy and training, the client will get answers. Now, you’re thinking, “that’s what I need!” – Yes, I know, it can be quite alluring to think that a consultant will give you all the answers – But that’s not how it really works – These answers are merely the experiences and opinions of the consultant or trainer. Although this may have worked for them and possibly a few others with whom they’ve consulted or trained with, but it will not and cannot work for all.

With a coach, the answers come from you! Now, at first glance, this may not seem to be as attractive, compared to the consultant’s approach, but please stay with me for a moment. Ok, so now you’re saying to yourself, “Hey, if I already have the answers in me, I wouldn’t need help!” If that’s what you’re thinking, I applaud you for questioning my authority, but think again. The reality of it all is that the answers are in fact already in you – They are obviously not apparent to you now, but they are certainly there. I’m not talking metaphysics here or even tapping slightly into spirituality. The fact of the matter is this; in your life and in all of your experiences; past, present and future, no one brought or can bring about the correct answers or pave the proper path better than you can!

Yes, we can certainly take someone’s advice, but like gambling, it’s a risk we take – Sometimes we win and we often lose. The coach’s primary objective however, besides getting you results, is to bring out the correct answers by asking the right questions. Coaching is not telling people what to do although there are times when advice is acceptable; mostly, it is helping them clarify their own vision, while being in control of their own experience. It is helping them evaluate what they are doing now in their business, while making sure to maintain the accuracy of their goals, desires, values and intentions. It gives a client new choices that inevitably leads to change. Coaching helps a client, by breaking beyond mental blocks of what they thought was possible and shows them that almost anything is possible when you have a clear vision (map to success), develop the proper mind set & learn to take the right action on a consistent basis.

Coaching works as a partnership between the coach and the client. It is a level playing field where coach and client are quite able to effortlessly create massive results in the quickest turn-a-round time possible.

So how exactly does the coaching model work?

The coach utilizes powerful tools that help to get to the core of the client. When a client comes to a coach, the client often has a goal in mind – Sometimes they don’t – When they do, the coach will ask a client a variety of questions to help bring out the values tied to a particular goal/s. If it’s a new goal the client has, the session may be directed one precise way. There are often times when the coach may encounter a situation, where their client presents them with a very old and warn out goal -One that the client just never seemed to be able to bring to fruition. Under these circumstances, the coach may go in a completely different direction. It may be the direction where the coach uses their skill set of asking empowering questions. By asking well thought out questions, the coach will often uncover something that may have very well been holding this client back from achieving that goal and sometimes many other things.

When a client has no goal in mind, the coach has many wonderful ways of tapping into a client’s dormant creative side. One of the many methods a coach may use, is something called a high energy think tank. A think tank is a well prepared brain storming session, where past experiences and future desires may be used to create new ideas and thought patterns. Its two minds working in synch, working towards a solution, each generating optimum levels of creativity, which often leads to extraordinary results.

How much is a Business Coach?

Like any worthwhile service, the level of quality and the quantity you receive should always exceed the price you pay. Does this mean that business coaching is inexpensive? No! It means that your return on investment is well worth the price you pay. How does a 500% Return On Investment sound? In depth Studies have shown that the Return On Investment that you can expect from being coached even exceeds 500%. This means that a client will, on average, receive more than five times more out of being coached than you paid to be coached.

Realities About Business Coaching, According To Your Strategic Thinking Coach

I think it is safe to say that there are many preconceived notions about business coaching. Furthermore, some of these notions really are myths rather than reality. In an attempt to provide some insight into what are the major myths about business coaching, I have developed a list of the top ten myths and respective realities that are counter to each myth.

Myth # 1. I really don’t have any problems. I am doing well and don’t need a business coach.
Reality: Maybe this is true, but it is important to understand that business coaching is not about fixing problems. Business coaching is about creating new possibilities and improving yourself.

Myth #2. Business coaching is nothing more than a cleverly disguised way of telling people what to do.
Reality: Effective business coaching focuses on results and uses various approaches to pull solutions from within those being coached rather than the coach telling them what to do.

Myth #3. You have the questions and your business coach has the answers.
Reality: From my perspective as a strategic thinking business coach, this is very far from the truth and reality. As an effective business coach it is just the opposite. Your business coach has the questions and you have the answers within you and your business coach will help you discover them.

Myth #4. Business coaching is only for troubles or poor performers.
Reality: The best business coaching clients are those with potential that is not being realized or people who have hit a hurdle or stumbling block in their development and need coaching to guide them through the impediment.

Myth # 5. Business coaching is just sitting around and listening to people.
Reality: Effective business coaching comes from asking the right questions at the right time. A well thought-out question may be worth hours of listening. However, listening is only useful if it yields enough information to formulate the right questions.

Myth #6. Business coaching is time consuming.
Reality: Reality is just the opposite. Some of the best business coaching happens in brief and sharply focused doses. And remember the old saying about there is never enough time to do it right but there is always enough time to do it over? Effective business coaching will increase the probability of getting it right the first time and therefore save time in the future.

Myth #7. Business coaching is too expensive and only wealthy people can afford their own business coach.
Reality: Maybe this could be true with some business coaches, but certainly not for all business coaches. When speaking with prospective business coaching clients we focus on the value of the business coaching to their own growth and development and their business and personal goals. After that we develop a mutually satisfactory and beneficial financial arrangement.

Myth #8. I can coach myself for free or I can simply talk to my best friend.
Reality: No matter how hard your best friend tries, he or she cannot be unbiased and impartial with you. And you and your best friend will not ask the tough questions that need to be asked and will not bring the benefit of a true outsider’s perspective.

Myth # 9. Men cannot coach women and women cannot coach men.
Reality: Effective business coaching is gender neutral. In fact, sometimes business coaches of the opposite sex can facilitate people seeing issues from the other’s perspective.

Myth #10. A business coach must have a similar personality to yours.
Reality: Business coaching is about growth and development and having a business coach with a different personality will offer fresh perspectives.

The Top Ten Myths And Realities About Business Coaching, According To Your Strategic Thinking Coach
By: J. Glenn Ebersole, Jr., Chief Executive of J. G. Ebersole Associates and The Renaissance Group (TM)

Glenn Ebersole, Jr. is a multi-faceted professional, who is recognized as a visionary, guide and facilitator in the fields of business coaching, marketing, public relations, management, strategic planning and engineering. Glenn is the Founder and Chief Executive of two Lancaster, PA based consulting practices: The Renaissance Group, a creative marketing, public relations, strategic planning and business development consulting firm and J. G. Ebersole Associates, an independent professional engineering, marketing, and management consulting firm. He is a Certified Facilitator and serves as a business coach and a strategic planning facilitator and consultant to a diverse list of clients. Glenn is also the author of a monthly newsletter, “Glenn’s Guiding Lines – Thoughts From Your Strategic Thinking Business Coach” and has published more than 250 articles on business.

How To Hire A Business

A great Business Coach can help a business owner or manager make significant advances in their business in a relatively short period of time. However, not every Business Coach is right for your business or organisation. This article will highlight a few key questions that you should ask your prospective coach before your hire them!

A Coach Is A Coach Is A Coach…

Not all coaches are created equally. The first and most obvious assessment of a Business Coach should be a close examination of their coaching credentials. While there are many great business people who can be great advisors and mentors they are not to be confused with those who have trained, studied and have been certified as a qualified coach.

In my experience there are two key categories of Business Coaches. Those that have invested in a Coaching Franchise, and have been certified as a coach by their franchising organisation, and those that have trained as coaches and then combined their coach training with their prior business experience.

The former typically have an short “intensive” coaching training process, typically as short as 10 days in a plush resort while the latter group will have studied for many months before they graduate as a coach.

Given only this criteria, which coach would you trust the future success of your company to? Someone who has paid to be certified by the same organisation that has sold them a franchise or someone who has paid to learn to be a coach?

Now I am a fan of many of the Business Franchise organisations on the market. For many would-be business owners, investing in a franchise is a smart move – especially if the potential franchisee does not have a strong business acumen. Now here’s the rub. Do you want to put your business in the hands of a coach who does not have a strong business acumen? One who does not have the resources or ability to build their own business?

As a Business Coach, I am frequently asked – “If you know so much about business why don’t you run your own?” In truth my Business Coaching practice is a business, it’s surprising how many people miss this obvious fact, and aside from that I run a couple of small online companies.

This leads on to, in my personal opinion, the most important qualification of a Business Coach. Ask how many businesses they have run, how many of those have been successful and how many have failed. It is my experience that almost every franchise Business Coach has never run a business before. Let’s face it, if they really knew how to build a business why buy an expensive franchise? Where as the Independent Business Coach will have run one or more companies previously. This is their greatest qualification.

Propel Yourself Forward With Life and Business

Life or Business Coaching is designed for people that are truly ready, motivated and committed to create a successful life for themselves, or ready to take their business to a new level of success. A life or business coach is skilled in helping you make dramatic improvements every area of your personal or business life and holding you accountable for the changes you say you are committed to making.

Ten years ago, coaching was considered the new “fad” in personal and business development but now everyone from Fortune 500 executives to homemakers and small-business owners are taking advantage of the power in having someone on your team, in your corner…so you don’t sit on the bench.

A Coach is not a therapist. Although many Coaches are consultants, a true Coach is more than a consultant…a Coach is also a friend who can give you the “tough love” you need to make the hard decisions in your personal or business life. A Coach helps you focus on both the big picture and the task at hand so you can reach your end goals in a manageable, organized and methodical way.

A Coach is committed to your success ALMOST as much as you are (Hint: your Coach should NEVER be more committed to your goal than you are!). Your Coach is your personal expert, consultant, motivator, mastermind partner and cheerleader, all wrapped up in one powerful package, to help you realize your highest potential!

Most Coaches specialize but many are skilled in a number of areas. For example, a Life Coach may be focused on people in transition in their lives, whether career changes, divorce, loss of a loved one, etc. Business Coaches may be specialists too, perhaps focused on a specific area of business or a specific type of business.

Wherever you are in your life right now, if you are committed to success, whether personal or business, a Coach can help you get to where you want to go, faster, more efficiently, more profitably and with a greater degree of satisfaction.

While there are many ways Coaches work, there are also typically common areas of focus, particularly in setting and achieving goals. Depending on the structure, your Coach may give you homework to complete before the next session. A good Coach will “MasterMind” with you to help come up with ideas that you might not have considered working on your own.

There are entire books written about coaching, so I’m not going to try to cover the entire global subject of coaching in this short article, but I do want to share with you a little bit about how I coach my clients.

Life Design Coaching (personal or business or both)

Because I have a broad and varied background and have studied and worked in a number of areas throughout my life, I have a somewhat unique approach to coaching. I can bring insight into many areas, both on a personal, spiritual and business level and because I enjoy variety, I split my coaching time between business and life coaching, with a focus on what I call MasterMind Life Design Coaching.

My typical client is an entrepreneur, or wants to be. This could be a small business or home-based business person (or both). He or she is interested in personal development and improvement. My clients typically have an open mind to new ideas and experiences and are willing to look at ways of creating success that might initially be a bit foreign to them.

Because the entrepreneur typically is in a constant state of balancing their personal and business lives, we spend time together co-creating a program to promote that balance of work and play that is so important in the lives of busy entrepreneurs. A large part of our coaching program is the MasterMind process, which essentially is idea development and execution. When two great minds get together working on solving the same problem, magical things can (and do) happen.

Seven Ways MasterMind Life Design Coaching Can Propel Your Personal or Business Life Forward Faster:

  1. Help you to set realistic and achievable goals (Hint: Virtually EVERYTHING is achievable) in your business or personal life
  2. Provide an organized structure to get you from where you are to where you want to be
  3. MasterMind with you (and your business team, if necessary) to generate new ideas, and organized plans for executing on those ideas
  4. Help you develop and automate your marketing and sales efforts for your business
  5. Plug you into the MasterMind Network (yours and mine) to expand your contact base and the resources available to you
  6. Hold you accountable for your own success
  7. Teach you how the Law of Attraction and MasterMind process REALLY works so you can super turbo-charge your life or business by using it properly

I would like to invite you to explore coaching for yourself to determine if it is a structure that can help propel you forward in your own life.

Without a doubt, Coaching can be a major positive force in your life, but coaching is a relationship, so finding the right coach for you. Explore the options. There are a lot of great coaches whose primary goal is to assist you in creating the life that you want to live. Finding the right one will be a step for which you will thank yourself (and your coach) as you develop your greatest potential in life and business.

Create A Successful Small Business

Coaching Is For Champion Athletes And Successful Small Business Owners As Well

You may have played on a sports team and had a coach. But, that may not help you understand how coaching can help in business. If you want to be a successful entrepreneur, or the CEO of your company, the focus, goal orientation and strength building of a coach is invaluable.

You may be surprised to know that not only great athletes like Michael Jordan or Tiger Woods had coaches. Not only great singers, great actors, or other great artists had coaches. But,CEOs and great business leaders like Michael Dell, Meg Whitman, and Scott McNealy used coaches to reach success.

WHAT IS SMALL BUSINESS COACHING ?

Many people try to explain the coaching process by explaining what it is not. It is not therapy, as there little emphasis on your past, or your psychological profile. It is not business consulting, because the relationship is a collaborative one. The business coach has expertise, but worked with you as a partner to apply what will work best for you.

The executive and small business coach is there to help you set extraordinary goals, and to make you accountable to accomplish them by building on your strengths.

THE REALITY OF COACHING IS DIFFERENT FROM THE MYTHS

MYTH: Coaching is for washout, weak figures who can’t make it on their own.

REALITY: It is just those executives with the profiles of champions and a track record of success that understand and maximize the benefits of coaching.

MYTH: Coaching starts by identifying your weaknesses and filling in the gaps.

REALITY: Coaching encourages you to declare a powerful future, of what is possible and predictable based on your strengths. It is there to give you the clarity, power, and velocity to reach your goals.

DO YOU KNOW WHAT TO LOOK FOR IN
AN EXECUTIVE SMALL BUSINESS COACH ? [http://successful-small-business.com/business_management_coaching.html]

  • Business Expertise – A coach should quickly understand what it’s like to be in your place. You should have a coach with business experience of running and /or starting a small business to be able to understand your challenges.
  • Professional Training – In addition to business experience, a coach should have training in how to help people make positive change in their lives. Such training is from Psychology, Coaching, Social Work or HR programs.
  • Encouragement and Support – Your coach is your partner. You must feel that in addition to understanding your situation, that your coach recognizes your strengths and uses them to build your business success
  • Goal Oriented – The purpose of the coaching partnership is to get results. One of the key strategies for making that happen is for your coach to collaborate with you to set challenging yet realistic goals, while holding you accountable as well

HOW DO YOU HIRE A SMALL BUSINESS COACH ?

It is not essential to be geographically close to your coach. Most coaching is done by telephone. That opens up the possibilities for you. You can check for coaching online, and it is advisable to review a coach’s website to get a sense of whether you feel the coach’s background matches your needs. Do not hire a diet or spiritual life coach if you are looking for strategic business planningand growth or ways to find money for your business startup.

In almost all cases, a coach should offer you a free consultation to make sure that you both feel it can be a successful and productive relationship.

HOW LONG DOES IT TAKE ?

It is really different for everyone, and depends on your long term goals. It is not therapy and will not take years of sessions. On the other hand it is not an advice program. I like to compare it to dieting or physical fitness. You can hear a lecture about what to do, but it takes months of practice to change old habits and establish new ones.

Steps To Finding A Business

All top performers attribute a significant importance to the coaches they have encountered in their careers. These top performers initiate the contract with their coaches, hiring, firing and searching constantly for that coach which will give them the competitive edge.

Successful business coaching is not limited to sports. Fortune 500 companies are encouraging their executives to help optimize their performance.

I have found that as a small business coach, the professional in a sole practice or the independent businessman, benefit tremendously from a coach who sometimes fills a role that would otherwise be served by a partner.

If you think you can benefit from working with a coach. Where do you start?

Key Selection Criteria for Hiring a Business Coach

When you look for a coach, you are looking for someone who has experience or insight you don’t have in dealing with a particular subject. The best results will be when you use specific coaches for specific problems or challenges.

The key is how well five specific criteria are met:

  1. Understanding and Support – The coach has got to believe in you, that you have the strength, ability, and determination to work on goals and follow up on agreed upon commitments. You have to be convinced that your coach is supporting and helping
  2. Experience – For a coach to be of value, the coach must have a or experience in the given area you are concerned about. For example, while I work as a small business coach for business owners in areas of management and marketing, I would refer them to someone else if they wanted investment or financial coaching.
  3. Goal oriented approach to your success – A crucial distinction between your coach and other acquaintances is that a coach works with you to make you accountable to take concrete steps to success. The benefit of doing it with a coach is that you are then accountable.
  4. Coach as Teacher – You should expect that a coach will have both a knowledge base to offer suggestions to think about, as well as resources for you to read or use to help you with your business issues. While the coach is not a formal teacher, he or she is someone who is helping you learn more by expanding your options and informing you of methods for success in other businesses.
  5. Intuitive Connection – Don’t eliminate the emotional component from a coaching relationship, even in business. You should feel comfortable and at ease being able to share and discuss with your case. One good criteria to consider, is that you are comfortable giving direction to your coach, and telling your coach was is important for you to focus on. Remember that it is a collaborative relationship.

HOW TO CONTRACT WITH YOUR COACH

Make sure the terms of your contract with your business coach are clear, articulated, understood, and agreed to by you and your coach.

Time Frame – Be clear on what help you are asking for and realistic on the time you both think it will take to get done. From my experience it takes at least 3 months to ensure that you have made a plan, executed it, monitored it and follow up to ensure that it was set in place. It is a good idea to set up a trial period of and then reevaluate if both parties still feel it is a win-win relationship.

Coaching Style – Make explicit your preferred way of being coached. You want advice and insight but you also want to make the final decision on accepting this advice. You are not asking them to do your job for you, just to provide a unique perspective for you to consider in your decision making process. Monitor the coaching process to determine if you feel the coach is pushing you too much, or maybe too little. Like all relationships, your coach will need your feedback in order to help you the most.

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.