According to the International Coach Federation, there were 71,000 coaches in 2019. Business coaching makes up the majority of coaching, with 65% reporting it as their main speciality.
Around 25% of the 580 million entrepreneurs in the world have used business coaching services to enhance their operations and achieve growth. 97% of them believe it has a positive impact on employee performance.
What is a business coach?
A business coach helps entrepreneurs and business owners build and grow their businesses.
When is the best time to hire a business coach?
The best time to hire a business coach is when you feel ready to take your business to the next level but need help clarifying the next steps. This could be at any stage of your business. When you're starting and need direction, when you're facing a plateau in growth, or even when you're experiencing success but want to maintain momentum and scale up.
A business coach can be a big help during transition periods. For entrepreneurs and business owners, this partnership can be powerful when you're implementing significant changes or navigating through uncharted territories.
Ultimately, the decision to hire a coach should be based on your willingness to commit to change and invest in your business's future.
How do I find a business coach?
There is no universal playbook for making your business successful. If a business coach promises to make you a six-figure business, run for the hills.
Finding the right business coach takes homework. Like selecting a carpenter or a project manager, you must do your research to find a business coach with the experience and training to support you.
How does my business coaching work?
Sometimes, people see your strengths better than you can. I started my business two years ago. Yep - Kinkajou Limited is still a toddler.
I've learnt to hold on tight on this rollercoaster ride. I believe in what I do and stand for...and am surviving the lows and enjoying the highs. 🎢
My tech background and my agile and lean approach mean I kick out perfectionism and embrace experiments. On the rollercoaster I didn't take a pause to think this could be a service to other founders.
However, neurotypical and neurodiverse female founders found me. Instead of just offering to coach, I pivoted to what clients wanted: a blend of personal coaching, business coaching, mentoring, and consulting work.
My (amazing) clients want to dance between strengths awareness, managing inner critics, website design, business vision and strategy, defining service offerings, and AI productivity tools.
My business coaching approach is tailored, agile, solution-focused, human centered and practical. I use the experience under my belt founding a boutique consultancy, leading technology teams in small start-up-style and large-scale organisational change combined with my EMCC senior practitioner level accredited coaching and mentoring.
Starts with vision and strategy
A business coach guides entrepreneurs to define a vision for their company and develop strategies to achieve their goals. A great business coach will support you in aligning your mission with actionable and agile plans, ensuring that decisions and actions drive the vision.
Drives personal development
Coaching provides an invaluable space for personal development, allowing individuals to address challenges around confidence and self-doubt. Running a business can make it easy to lose balance. By exploring personal behaviors and boundaries, coaching can help individuals' well-being, leading to a more balanced and fulfilling professional and personal life.
Increases leadership awareness
We are not born leaders. Business coaching is particularly beneficial for entrepreneurs leading teams, focusing on developing leadership awareness and those "soft" skills. This directly impacts team motivation and engagement, leading to improved workplace culture.
Builds and expands business foundations
A key aspect of business coaching is exploring best-practice systems and strategies to drive business growth. Rather than solely focusing on motivation and emotions, business coaching looks at developing, marketing, and selling products and services that align with market demands. This approach ensures that sessions are dedicated to actionable tips and strategies for business growth rather than solely focused on personal development.
Evolves processes and supporting technology
Business owners need to embrace technology, particularly AI, to drive efficiency and stay competitive. Using AI-powered solutions, can automate repetitive tasks, reduce overwhelm and enhance customer experiences in using your products and services.
Tips on finding a business coach
Enquire about their coaching and mentoring creditionals.
Check out their experience on LinkedIn. Have they built their own businesses or have business experience in the areas you want to focus on?
Ask for testimonials. Read what others have said and see what resonates.
Have an introductory call to see if you are a good fit.
In conclusion, business coaching fosters a balance between personal development and business growth. By addressing individual needs, implementing best-practice tools, and cultivating leadership awareness, business coaching programs contribute to individuals' and organisations' overall success and sustainability.