Why should business owners consider coaching?
93% of SMEs acknowledge that mentoring can help them to succeed. That's a pretty high statistic and here are 8 reasons why business coaching is so beneficial:
- Improves your strategic planning
A key difference between a business coach and consultant is that while a consultant might focus on a particular business area such as finances, a coach helps leaders strategically plan their entire business direction.
2. Developing your skills
You'll know which leadership skills aren't your strength. A business coach will help you improve these and also utilise the skills you do have to drive your business and your personal ambitions forward.
3. You'll be held accountable
As a business owner has so many plates to spin, it's hard to focus on the right things at the right times. A business coach will keep you accountable to the actions you need to take so you're always making progress.
4. Adopt new ideas
A business coach will provide an external perspective. Because they're not embroiled in the day-to-day activities of your business, they can offer you with advice and ideas you might never have considered.
5. Learn from their experience
More often than not, business coaches are seasoned business professionals with a lot of experience. That's a key aspect of finding the right business coach - that they know their stuff. As they have gathered years of experiences, you can learn from them when it comes to your business opportunities and challenges. There is lots that business owners can learn from each other too.
6. Helping you to develop personally
Business coaches can also serve as a business mentor, where they focus on you, as a person. In coaching sessions, they will look at ensuring that your business decisions line up with your personal goals for your family and future. In fact, there are a few ways that business coaching and mentoring is good for your personal development.
7. Means you're not alone
Finding a business coach gives you excellent support and will help you combat the loneliness of entrepreneurship. They can be your sounding board, your go-to listener and your trusted advisor.
8. Inspires business growth
There are many strategies to growing your business, and by finding a business coach, you will have support in identifying which one will be most effective for you and your business.
What business coaching isn't
A business coach is not there to do the following:
- Solve all your business issues
Finding a business coach does not mean that all your business challenges go away. The coach is there to empower you with the skills and tools to discover those solutions for yourself.
A business coach won't address problems in your personal life but they will support you in aligning your personal life with your business.
Business coaches are not specifically trained in dealing with specific personal problems such as mental health or family relationships. You can't expect a coach to address these issues.
A consultant seeks to fix specific problems within a business, whereas a business coach, provides more generalised advice and insights. At TAB, we have business coaches with specific areas of expertise so they do sometimes offer consultancy in certain circumstances.
Why choose a TAB business coach?
Did you know that 98.9% of our members said a TAB business coach adds real value to their business? Here are three reasons why:
- The expertise of our UK business coaches
All our facilitators are seasoned business professionals with at least ten years’ experience as a business owner or in senior leadership. They are all diffrent but all love to help business owners in their areas achieve their goals, run successful businesses and live fulfilling lives.
- Business advice tailored to you
Many business coaches have a set structure they guide their clients through and while we have that at TAB, our business coaches will tailor your sessions together to your particular needs. So, although there is a difference between business coaching and consultancy, your TAB coach can sometimes fall into both these roles if required.
- Compliments our advisory boards
Working with a business coach at TAB is so powerful because of its combination with our business advisory boards. As part of a monthly TAB Board meeting, made up of local business owners, you'll have the opportunity to seek the advice of each member on your current business opportunities and challenges. The great thing is you can give them advice too, so in a way you get several business coaches with TAB.
