Top Ten Ways a Business Coach Can Help Your Business

The Business Coach can help in more than the 10 ways described below. The following five are not going to be mentioned in detail but are important to mention. These five include, mindset shifts to dispel limiting beliefs that the person may be holding that are detrimental to their business growth. Also, conflict resolution between employees and business ownership, personal development, crisis management and team building to enhance trust, engagement, and cooperation.

Although these are so important to a business owner. These next ten are the reasons that will set you apart from your competition and catapult your business to the next level of your success.

These are the Top Ten Ways a Business Coach will Help Your Business

1. Business Growth
2. Marketing Strategy
3. Sales Optimization
4. Operational Efficiency
5. Performance Excellence
6. Leadership Development
7. Decision-Making Support
8. Strategic Planning
9. Goal Setting
10. Time Management

1. Business Growth

The business coach will help a business scale up by doing two important things. First, they will look at ways to increase the top-line sales revenues and ensure that there is a plan in place to achieve better growth. You will also be optimizing your marketing to ensure that you are getting the lowest cost per lead. This is so that your lead generation systems can generate more leads for the same investment you are currently making. Secondly, the business coach will look at your expenses to make sure that you are allocating them to get the most for your money. Your savings can be reinvested to generate more leads thus more sales, and therefore more growth.

2. Marketing Strategy

There are many ways a business coach can help with your marketing strategy including making sure that your strategy is robust. Also, it includes online and offline methods to generate business leads for your business. The coach will also analyze the strategies you are using to enable you to get the most for your investment. They will help you set up a tracking system to allocate your investment to where it is going to allow you to obtain as many leads as possible at the lowest cost. This is dynamic and changes without notice. Therefore, constant monitoring is important, and the business coach will show you how to do this. The competent business coach will also assess your brand position and brand in general including your differentiation. Proper brand positioning is most important so that you are not being commoditized and competing on price alone.

3. Sales Optimization

The business coach will also provide sales optimization strategies. Including pricing strategies, loyalty programs, and evaluating and improving the sales processes. They will assess sales funnels and ensure that your sales processes and the sales team are performing at their optimum. The business coach will set up a sales dashboard to track sales performance by product, by service, and by salesperson as well as promotions. Doing so will enable you to increase your sales award rate, maximizing your efforts. The coach will also look to increase the average sales purchase value as well as the overall customer lifetime value. All of this increases sales and topline company growth.

4. Operational Efficiency

Up to 40% exists in hidden waste in most companies. The business coach will identify and rectify this to make the business lean and efficient. Setting up operational dashboards, KPI’s, and improving processes are all part of what a business coach will do for your business. From improving business meeting productivity to process improvement. The improvements save money and increase speed, making the business more competitive in the marketplace. They will also put in place a continuous improvement methodology so that the company continues to improve its operations. Here again, your savings can be reinvested to grow the company. The speed and improved quality in operations will ensure company growth and increased net profitability.

5. Performance Excellence

Coaches can identify skill gaps in the company and provide guidance and training programs to address the gaps. Setting up feedback systems to improve performance is just a part of what a competent coach will do for you. Also, suggest policies and procedures to improve performance and behaviors. Ensuring your company has the right quality assurance and control systems will also improve overall performance. Team building exercises and focusing on morale improvement can increase overall performance and team cohesiveness.

6. Leadership Development

When it comes to leadership development the business coach will look to identify strengths and weaknesses. The objective is to decrease the identified weaknesses, as well as improve interpersonal relationships and decision-making. They will also assist with creating a vision for the company that is both challenging and reachable. They help leaders think strategically by looking at the broader impact of their decisions in their organization. Often it is identifying the ‘lead domino’, which is an action or set of actions that have a cascading effect. Achieving such actions starts a domino effect to achieving other actions decreasing the amount of time to accomplish the goals set out for the company.

7. Decision Making Support

Decision-making is tough when you’re at the top as you often feel alone. Employees will sometimes provide a biased opinion, and you don’t know where to turn. The business coach can assist with identifying and clarifying long and short-term goals to ensure that they are aligned with the vision of the company. They will also provide an unbiased opinion and can provide an unemotional perspective. They will encourage critical thinking and point out risks and errors in judgment. Often the perspectives suggested by the coach come from analytical thinking and methodologies based on data. The added viewpoint will enhance your understanding of the situation and confidence in the decision you are making.

8. Strategic Planning

This is an important part of any business. The benefits of setting a clear vision and mission from a comprehensive business assessment are numerous. It will usually include a SWOT analysis (Strengths, Weaknesses, Opportunities, & Threats). The business coach will also help in setting SMART goals (Specific, Measurable, Achievable, Relevant, and Time-bound). Ensuring that objectives are clear, realistic, challenging, and actionable. The coach will also help create a roadmap and identify key strategic initiatives focusing on areas with the highest impact on the business. Risk management and contingency planning are part of the services that a coach will provide.

9. Goal Setting

The SME (Small & Medium Enterprise) business owner will usually be busy working and solving issues and often doesn’t have time to think about where the owner wants the company to be in 3-5 years. The business coach can assist with creating the vision and identifying key focus areas for the business to concentrate on that will help it achieve the vision. They will assist in prioritization of the goals while balancing short and long-term goals. They will encourage a growth mindset while keeping the growth manageable and in control. They will also provide change management advice to ensure that everyone understands any changes. The coach will assist in managing the changes to reduce organizational stress. You will be supported and motivated as the business owner so that the goals are met over the established time horizon.

10. Time Management

Time and task management is always a challenge to you as a business owner and the business coach will share with you many proven methods to improve this. Whether it’s the Pomodoro, ABC, Eisenhower Matrix and more as applicable. They will assist in suggesting the usage of technology. Also, the best ways to manage your energy for best results. They will work with you to decrease timewasters and distractions. This will help you concentrate on what matters to accomplish your goals. Also assist you in managing your meetings effectively, providing you with best practices. These will ensure that you have accountability and tracking of outcomes so that your meetings are productive and a vehicle for accelerated company improvements.

Why Trust My Advice

I have been a business consultant and coach for over 30 years working with small and medium-sized businesses. The advice here is from my experience. A good business coach can provide the knowledge and skills necessary to take your business to where you want to go. Seek one out for you that is a good fit with your personality. Reach out to me as I believe that I have the best guarantee in the management consulting industry.

No-Risk Guarantee

Goalbridge Consulting is committed to providing measurable and meaningful results to you and your business. Our guarantee is the best in the industry based on our 30+ years of experience. We get paid based on the results we achieve. Regardless if it’s through identified implemented savings or through additional revenues generated beyond what you currently have. Our compensation is tied directly to the success we have delivered to your business.

Here’s how it works:

Results-Based Compensation

Our fees are calculated based on real and tangible results from savings or additional revenues from our solutions. If we don’t deliver measurable results, you don’t pay.

Satisfaction Assurance

Should the provided services not be measurable in terms of savings or revenues such as training or advice then the service is provided on an hourly basis. If you are not fully satisfied with our hourly services then you will receive the second month for Free for the same value of services provided in the first month.

Hourly services include:

o Executive Coaching
o Strategic Advisory Services on business planning, market entry, etc.
o HR Advisory Services
o Sales Training & Development
o Workforce Development and Training
o Change Management Advisory Services
o Branding & Marketing Consulting Services

Our guarantee comes from our confidence to help you achieve the next level of your success. It emphasizes our results-oriented and risk-free approach to consulting services. It’s a commitment to our client’s satisfaction. Contact me today and let’s have a conversation.

Summary

A business coach is an invaluable asset in your business. Expect them to increase your leads, sales, operational efficiency, and overall growth. They will assist you with implementing best practices to get your business where you want it. Together with a no-risk guarantee, it is a benefit that you simply should take advantage of. They can impact your culture and transform it into one of excellence by providing you with their knowledge, skills, and experience. Choose wisely who you employ as a business coach to make sure that your personality and theirs is a good fit. You must trust the person completely. It is important that you have open communication and honesty. It will allow you to share your challenges and fears that you face so that they can address them. After all the more open you are with them, the more they can assist you.

FAQ’s:

The following are frequently asked questions that you may also have.

What is a Business Coach?

People get confused between the role of a business coach and a consultant. The business coach usually acts as a facilitator or guide and encourages self-discovery and growth. This often focuses on professional development, leadership skills and decision making. The business coach will also help dispel limiting beliefs that may hinder the business owner from getting to their goals. The business consultant provides expert solutions and advice from their knowledge and experience.

What does a business Coach do?

A business coach is an accountability partner who clarifies goals and the client’s vision. They provide honest and unbiased feedback while identifying blind spots and improvement areas that the client isn’t seeing. They will introduce decision-making frameworks and will help the client be more confident in their decisions while balancing risk. They will also support personal growth and develop the person’s mindset. The business coach will also assist in navigating change while supporting business growth and the scaling up of the business.

How to find a business Coach?

There are several ways to identify a business coach for yourself. Start by doing an online search and ask for recommendations from other business owners like yourself. Review their guarantees and choose one where they will get most of their compensation from their results. This way they are motivated to work hard for you. Ensure that they have the time to work with you and your schedule. Finding the right coach is worth the effort as they can yield tremendous benefits to you and your business.

How much does a business Coach Cost?

The compensation for a business coach can vary and why it is important to do your research before choosing one. They can be compensated in many ways including the most common in the industry which is an hourly rate. The hourly rate can vary depending on the experience and knowledge. A business coach typically ranges from $120/hr to $1,200/hr.

Alternatively, they can be compensated based on additional revenues to what you currently have with a percentage of the revenues as compensation. This typically ranges from 15% to 20%. This percentage is based on the coach assuming a lot of the risk for their time, knowledge, experience, and personal investment in the client’s business. A third way is a hybrid approach where they will agree to a lower hourly rate and a lower compensation percentage such as 10% instead of the usual 15 to 20%.

What to expect from a business Coach?

A business coach will provide personalized guidance tailored to you and your circumstances. Provide you with unbiased feedback, challenge assumptions, and is an accountability partner. Clarifying your goals while providing strategic planning support is all part of what you can expect from a professional coach. They will assist you in developing skills and your problem-solving ability. It will allow you to go beyond simply damage control to solving the root causes that are hindering you and your business. Improving your confidence and focus is all part of the journey with a good business coach.

How can a business Coach help me?

A business coach can help your leadership skills, build confidence and help you overcome challenges. They can clarify your goals, and help you align your actions with your goals. They motivate you and are an accountability partner that will assist you in continuous personal and professional growth.