May 25, 2022

StrategisChhr

Skillful Business Crafters

Why Your Business Needs A Coach Today

John Knotts | President and Owner of Crosscutter Enterprises — Your Success Incubator.

Did you know that only one out of five adults get an annual physical and 25% of Americans steer clear of medical care even when they know they need it? This mentality carries over to businesses, as well. Most business leaders steer clear of help from a business coach or consultant, even when they know they need it.

At the end of last year, I went for an eye doctor’s appointment — I go about every other year. Sometimes, I need an adjustment to my lenses, and other times I am fine. I remember when I first learned that I needed glasses. As a teenager, riding in the car with my dad, he said something about the car in front of us driving without its lights on. I could not see the car.

We go to a medical professional to point out problems we cannot see. And this is why you need a coach for your business today! You need someone who can identify problems, diagnose them and get rid of them.

There is a saying in business, “When there is nothing wrong, then there is something wrong.”

What Does A Business Coach Typically Look For?

A business coach and consultant help you see what you cannot see to improve your business. Here are three major areas where a business coach is vitally important.

Growth And Scale. Most businesses are fully fixated on growing revenue at all costs. This is the mantra of every business: “Grow or die!” A business coach helps you find new and innovative ways to grow your business.

However, many problems occur when your business is growing. This is due to the complexity that I shared in my article “How To Scale Your Business To Meet Growth Demands.” Therefore, scaling your business as it grows is paramount. A business coach helps you focus on scale and growth at the same time.

Improvement Opportunities. Your business might be raking in the revenue, but how much is bleeding out the other side when it comes to efficiency and effectiveness? When you focus on selling products and services, business improvements, like I mentioned in “How To Improve Your Business In Six Ways,” often take a backseat.

Business waste can quietly occur in many ways and slowly chip away at your profits. Some businesses struggle with even understanding what their profit margin looks like. A business coach identifies and highlights waste across operations and guides the business to eradicate these issues.

Personnel Issues. Culture challenges, poor communication, lack of training and development, toxic leadership and a slew of other human resource nightmares are always plaguing businesses and holding them back. In most cases, the business cannot see its nose in spite of its face.

A business coach naturally assesses these human resource challenges and seeks out appropriate solutions.

What Do You Look For In A Business Coach?

There are a lot of people calling themselves a business coach or consultant these days. Not all are created equal, and you do not always get what you pay for. However, there are three key things to examine when seeking a business coach.

Experience. First and foremost, just like hiring someone for your business, you want to see a coach’s résumé. The top things to look for are as follows:

• Years of experience. Malcolm Gladwell points out that expertise usually occurs at about 10 years. However, when it comes to hiring a coach, you want to hire someone with 20 to 30 years of experience in business.

• Types of experience. While years of experience are an important factor in selecting a business coach, the types of experience they have can be even more important. You should look for someone who has a broad background in business operations — not with just one or two companies. You also want to look for business coaches who have experience with large management consulting firms and who have owned businesses of their own.

Education And Certification. Another key item on anyone’s résumé is their education and certifications. You probably would not hire a CFO who did not have a degree in finance and was not a CPA. So, why would you scrimp on a business coach? They should have a solid educational background in business with complementary business improvement certifications. At a minimum, I believe they should have at least a master’s level of education. Typical areas of education include business administration, leadership and management, organizational development and industrial and organizational psychology.

Shares Expertise. Testimonials and case studies can be easily faked in today’s world. What cannot be faked is a business coach’s continual sharing of knowledge with the world. Do they teach at universities, do they routinely speak and present to audiences and are they regularly published in magazines and books? These activities send a signal of expertise that you can validate. A strong business coach is constantly sharing their knowledge through public works that are easily available and researched.

Just like your personal health, your business needs an annual checkup. Your business needs a business coach to help you identify the blind spots in your operation and show you areas where you need to grow and improve. Do not wait until problems have gotten out of hand to finally call someone to help. If you want to be successful in business today, you should contact the right business coach for your company.


Forbes Coaches Council is an invitation-only community for leading business and career coaches. Do I qualify?


https://www.forbes.com/sites/forbescoachescouncil/2022/02/07/why-your-business-needs-a-coach-today/