Why Hire A Business Coach?
Posted on 7th July 2022 at 13:23
Business coaching support is a crucial linchpin. The idea is that you bring somebody with great business experience in to figure out your strengths, help build on your weaknesses and teach new concepts and processes to get your business to where you want it to be.
Improved overall business performance and growth
Growing a business is complex and multifaced, and there are many different factors that determine whether you succeed, some of which are often overlooked. Business coaching isn’t always one of the first things business owners prioritise when trying to hit the high growth and success stakes, but evidence suggests it enables firms to advance growth by two to three times their normal levels, so it is not to be underestimated. Not only that, businesses that seek external advice or undertake formal training are more likely to improve their overall performance.
The powerful combination business coaching and peer-to-peer support provides not only allows entrepreneurs to grow their businesses, it helps reduce the nationwide productivity gap by providing business leaders with a platform to find practical solutions to strategic and operational challenges.
Helping business owners feel less alone
Even business owners with many employees can still feel ‘lonely at the top’ and unable to share their business challenges with others within their organisation.
A business coach provides business owners with a experienced external people who understand where they are with their business and what they are going through, and a platform to collaboratively work through common issues, gain and reflect on valuable feedback and implement practical solutions to overcome them.
Regularly sharing challenges with a business coach gives entrepreneurs a sense of being ‘in it together’. It enables them to see that every business faces its fair share of obstacles, that they are not alone and that these challenges can be overcome.
BizSmart also offers support groups which require participants to establish valuable relationships based on trust and building a trusted network of connections to support business owners now and in the future could be instrumental to their success.
Evidence indicates that businesses often prefer to take advice from trusted sources when presented with external challenges and opportunities, and look to their existing networks, such as their peers or their accountants, when taking advice. Through their peer-to-peer groups, business owners can have immediate access to more trusted resources and support than they would on their own and can be opened up to a whole world of new opportunities and creative solutions.
A fresh perspective
One of the biggest advantages of using a business coach is that they can offer a completely fresh perspective on any business idea or problem. This is backed up by our research in which 64% of respondents said they find peer-to-peer groups beneficial as they challenge their thinking and help them implement new ideas.
In support groups, business owners are encouraged to exchange anecdotes and antidotes of trying situations that other members are either facing or have faced in the past. Listening to others’ experiences and advice can uncover new approaches and tactics that may not have been noticed otherwise, helping business owners overcome challenges and recognise and act on new opportunities.
Indecision can cost business owners time, money and opportunities, yet so many still struggle to make real decisions in real-time. Timely and strategic decision making is crucial for all entrepreneurs in the current climate, and they cannot afford to play it safe and overthink all the what-ifs.
Using a qualified and experience business coach can be invaluable in providing the accountability needed to put plans and ideas into action. The idea is that we keep business owners accountable and force them to make decisive changes. Often, knowing others are watching what we are doing and will ‘tell us how it is’ gives us the push we need to put our words into action and achieve our goals.
In times of crisis, business owners must be willing to lean on one another if they want to build resiliency and restore and identify new opportunities for growth. By talking to a business coach, business owners can share and benefit from expertise on leadership and growth, increase their productivity and gain the confidence to tackle the issues they face head on.
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