What is a Business Coach?
A business coach is a seasoned business leader who uses their experience and expertise to help a less experienced business owner and their company reach new heights.
Business coaches are successful entrepreneurs and business owners themselves. They have chosen to use their talents for developing, building, and growing businesses to help others achieve their business goals.
Business coaches offer different programs depending on their areas of expertise and client needs, budget, and goals.
While there is a huge amount of resources and advice available online and in books, business coaches offer something truly valuable and unique: custom, personalized advice created solely for the benefit of a specific business owner and their company.
A Business Coach’s Role
Essentially, a business coach’s role is to provide structure, perspective, accountability, and support to a less experienced business owner.
The goal is to help grow their business in a sustainable way and to decrease owner reliance so that they are able to maintain a fulfilling life outside of work.
A business coach helps provide structure by working closely with their client to create a step-by-step, progressive plan of action that helps cut out unnecessary tasks and focuses in on the truly important business needs.
They also are able to contribute a valuable outside perspective to help solve problems and shift focus. Often, business owners have been working long hours for months or years and have a tough time stepping back to refocus on the big picture.
That’s where a business coach comes in. With a wealth of experience and knowledge, they are able to ask questions, give advice, and bounce ideas around that solve problems effectively.
In order to stay focused and dependable, a business owner needs to be held accountable. Asking an employee, whose paycheck you sign, to hold you accountable is asking quite a lot. That’s why a business coach is the best way to check your responsibilities.
By asking someone who you esteem and respect to hold you accountable for executing your plan, you put pressure on yourself to stay focused and follow through at your highest level.
Business coaches have been through their own trials and tribulations and can understand nearly every difficult situation a newer business owner might find themselves in.
Whether it’s downsizing, pivoting, changing locations, or any other circumstance, they can provide vital insight and perspective which will help you focus on the positive benefits of change.
Characteristics of a Good Business Coach
A good business coach is:
Experienced – They have built and grown their own business(es) and are familiar with a diverse set of problems. They can draw on their own experience to help you skip over periods of trial and error, ultimately saving you huge amounts of time and money.
Focused – A good business coach isn’t going to waste your time. They understand their responsibility and are focused on providing you the best service they can. By concentrating on key metrics and goals, they can provide the most valuable services in the most efficient manner.
Motivational – They are able to project their focus and experience in an educational and inspirational manner. Not only do they help you succeed, they help you fail better and are able to learn from and make the most of any situation.
Flexible – Business coaching should not be a “set it and forget it” type of service. An experienced coach will be able to predict problems and trouble areas before they arise, but as we all know, business – and life – is unpredictable. A truly proficient coach is able to adapt to unforeseen challenges and situations with confidence and grace.
Empathetic – The best business coaches are able to put themselves in their client’s shoes and communicate in a way that is both understanding and inspirational. A good business coach will help you keep your head up during tough times and be there to celebrate with you when you’ve accomplished something important.
What Can a Business Coach Help With?
A business coach helps you grow your business by increasing company production while reducing owner reliance.
This helps protect you, the business, and your employees. By creating a stable base of sound systems, talented teams, and intelligent internal controls, you are able to grow your business in a sustainable way. This enables you, the business owner, to reduce the number of hours you work each week, focus on the most pertinent tasks, and take back control of your life.
Many business owners want to grow their business but are afraid to begin the process because they believe they will have to sacrifice their lives and work long hours every day. However, the key to sustainable growing your company is actually to diminish its reliance on you.
A good business coach is able to help you understand this and to create a detailed plan of action that helps your business flourish and gives you the ability to keep your work and personal life in a healthy balance.
Do I Need a Business Coach?
If you are ready to grow your business but struggling to take the first steps, a business coach may be exactly what you need.
Whether you’re a startup, small, medium, or large business, a business coaching program provides invaluable resources to help you both professionally and personally.
At Maui Mastermind, our team of business coaches have personally scaled and sold over $2 billion of businesses. Our vast spectrum of knowledge and experience has helped our clients achieve an average growth rate of 7x the average privately held company while reducing their average weekly work hours by 50% or more.
In order to find out if our business coaching program is right for you, we offer all qualifying businesses a free 90-minute business coaching session.
If you have any questions about our business coaching services, take a look at our free resources, or contact us today!