With the volatility of the last couple of years, and it’s aftermath (being referred to as ‘The Great Resignation’), many businesses, particularly many small businesses and startups, choose to take on a business coach. But with so much marketing from people like us being sent in your direction, sometimes the question still remains: why should I hire a business coach?
A recent study by SCORE showed that, compared to the national average, businesses that were supported by a coach were 12% more likely to still be in business after a year. And 87% of small-business owners that worked with a coach were likely to still be in business after a year – that figure is only 75% for those without a coach.
This is all very well, but how do these statistics figure? We thought we should go into a little more detail about just what working with a business coach can help you to achieve.
Create Work/Life Balance
Your journey with your business coach involves them helping you to navigate new challenges in order to reach your goals. As you do this, you can start to realise: what’s essential? What things are part of the running of your business currently that waste time, or could be better delegated or managed. You and your coach will work together to create an efficient strategy that prioritises the essential things, creating more opportunity for downtime and for your energy to be put into everything that matters in your life. Being in business should give your more life, so committing to your business shouldn’t have to mean sacrificing everything else to make it work!
Practice Accountability
Their willingness to them to be honest, as well as to call you out when necessary. Practicing accountability keeps you focused and on track to achieving your goals, and gives a consistent nudge to stay driven to growing the success of your business further. It also encourages you to face the things that you keep putting off for later head-on.
Provide Support
A good business coach can help you to see the blind spots that you’ve been missing. A great business coach will build a strategy with you to tackle them. Your coach really believes in your business, and is invested in it reaching the best possible heights. As a small business owner, especially of a new business, having the support of someone who can provide clarity and guidance is invaluable to giving you the motivation and headspace you need in order to put in the work to grow.
Alongside this, they are there to encourage you to try new approaches and ideas, all in the best interest of your business. Sometimes you need someone who can help you to get out of your own head and prevent you from becoming your own barrier to success, and a business coach can be there as a go-to for this.
If you want to find out more or discuss coaching further, please don’t hesitate to contact me at tomhosking@actioncoach.co.uk
