Small Business Coaching for Entrepreneurs
What is Business Coaching?
Business Coaching is a 1-1 oriented conversation aimed at helping you improve your success and expand your company. Company coaching is also often called Executive Coaching. In both, the “practice” and methodology are largely the same, but business coaching is aimed at the company owner; while executive coaching is aimed at the executive level management of an organization.
Difference between Business Coaching and Business Consulting
Business consultancy speeds up your company development by concentrating mainly on designing tailored approaches, processes, plans, frameworks, systems and operational planning for your specific business or organization.
Common business consulting services are the following:
- Business development/marketing strategies
- Business plans
- Franchisee performance development
- Increasing employee engagement
- Increasing staff retention
- Recruiting top talent
- Salesforce recruiting, development & management
On the other hand, Business Coaching focuses on improving the soft skills which are often sometimes referred to as the “psychology of success” Business coaching explores changing your attitude and outlook on your business which then helps you to make powerful breakthroughs in your company’s strategic direction.
“Soft skills” may not mean poor ability, remedial abilities or less essential skills. It is really the element you need to propel and track your progress quickly.
Business coaching meets many important unmet needs of the Entrepreneur and small business owner:
- Action planning
- Executive skills
- Greater confidence
- Push back
- Sounding board
If you’ve never hired a business coach, you should know that a good business coach isn’t someone who just asks you what to do. A successful business coach will act as your mentor, so you’re co-creating greater performance rates for you (the client) together.
Hiring a company trainer has enormous advantages. It’s a perfect return on investment for quicker-to-market entrepreneurs. A good way to find the best business coach for you is to study case studies.
Often the best business mentor is an experienced entrepreneur who doesn’t have exactly the same experience, knowledge and skills. You want someone who brings different talents and perspectives into the table when you take on a partner. If you partnered with someone with your same background and skills you would likely struggle with the same insulated and stale “group-think” syndrome.
If you are your company’s business owner and President, the right business coach should have a track record of starting up and successfully growing their own businesses. Someone with a corporate experience knows entirely differently what it is like to be the president of a corporation that began the business from the ground up and has to continuously scale and expand the organization. You will juggle wearing several hats while directing all the moving parts in tandem to operate.