Forget the stale coffee and motivational speeches you might associate with business coach. Today’s business coaching goes far beyond that. In fact, it could be the smartest investment you make for your business.
A business coach can be your personal guide through the complexities of the business world, helping you navigate challenges, seize opportunities, and achieve real success.
This blog covers all the necessary information you need to know about business coach for hiring one right away. So let’s start with the basics.
What is a business coach?
A business coach is a person in charge of making business related decisions, and business coaching is a professional service that helps business owners and executives improve their skills and achieve their goals.
Business coaching is mainly for entrepreneurs, startup founders, and established company leaders. The coach provides targeted advice and feedback based on the business’s specific needs.
Think of it as having a highly experienced mentor by your side, helping you navigate challenges, identify opportunities, and develop a roadmap for success.
Local business coach vs online business coach
Choosing between a local and an online business coach can be tough. Both offer valuable guidance, but the right fit depends on your specific needs. Here’s a comparison table to help you decide.
| Feature | Local Business Coach | Online Business Coach |
| Market Knowledge | Deep understanding of your local customer base, competitors, and regulations. | Limited understanding of your specific geographic area. |
| Interaction | Face-to-face meetings allow for stronger rapport and deeper dives. | Virtual meetings can be less personal and make reading body language harder. |
| Networking Potential | May have connections with other local businesses for partnerships or referrals. | Limited networking opportunities within your local area. |
| Coach Selection | Limited pool of coaches, potentially restricting expertise options. | A wider range of coaches with diverse specializations. |
| Convenience | Requires travel time for in-person meetings. | Flexible scheduling eliminates travel hassles. |
| Cost | Established local coaches may have higher fees. | Potentially lower costs due to reduced overhead. |
Benefits of hiring a business coach
Hiring a business coach provides numerous benefits, which include the following.
- Goal Setting and Achievement: Define vision, set achievable goals, and create a strategic plan.
- Skill Development: Identify and improve essential skills like leadership and communication.
- Enhanced Decision Making: Gain objective perspectives and make sound business decisions.
- Accountability: Stay focused, motivated, and accountable for progress.
- Competitive Advantage: Identify growth opportunities and implement best practices.
- Mindset Shift: Challenge limiting beliefs and foster a growth-oriented mindset.
- Problem-Solving Expertise: Access battle-tested strategies to overcome obstacles.
- Increased Confidence: Build confidence in leadership and business growth abilities.
The ROI of hiring a business coach
While the impact of a business coach can be transformative, many business owners are understandably concerned about the return on investment. The good news is there’s a strong case to be made for the financial benefits of coaching.
Studies show business coaches can deliver significant results. For instance, a 46% increase in revenue is a possibility, and improved efficiency can lead to cost savings that fuel further growth.
Even beyond the numbers, a business coach can help you become a more effective leader, make better decisions, and reduce stress – all factors that contribute to a thriving business. When you consider the potential financial gains alongside the intangible benefits, investing in a business coach becomes a strategic decision with the potential for substantial ROI.
Calculating Your ROI
While the exact ROI will vary depending on your business and goals, here’s a simple formula to get you started:
ROI = (Benefit from Coaching – Cost of Coaching) / Cost of Coaching
For example, if you invest $10,000 in a business coach and experience a 20% increase in revenue ($20,000), your ROI would be:
ROI = ($20,000 – $10,000) / $10,000 = 100%
This represents a significant return on your investment in just one year.
Where to find a good business coach?
Some avenues to explore when searching for a good business coach are:
✅ Word-of-mouth referrals
Personal recommendations are invaluable. Seek referrals from trusted advisors, mentors, investors or even past clients of business coaches you respect. Their firsthand experience can provide valuable insights into a coach’s effectiveness.
✅ Industry publications and events
Many industry publications feature articles or host events spotlighting business coaches. Attending industry conferences or workshops can be a great way to connect with potential coaches and gain insights into their coaching philosophies.
✅ Social media
Look for business coaches active on social media platforms like Twitter or LinkedIn Their content can reveal their coaching style and areas of expertise. You can also join relevant online communities or forums where business coaching discussions occur and find recommendations from peers.
✅ University resources
Some universities offer business coaching programs or maintain directories of alumni business coaches. Check with your alma mater or local universities to see if they have such resources.
✅ Business coaching review websites
Websites like Clutch or Coach.me allow clients to leave reviews for business coaches. While these reviews can be helpful, remember to approach them with a critical eye, considering the reviewer’s specific needs and your own unique situation.
✅ Professional networks
Tap into your existing network. Talk to colleagues, industry professionals, or successful entrepreneurs you know. They might have recommendations for coaches who align with your needs.
✅ Online directories
Several online directories list business coaches with varying specialties and locations. Consider platforms like Noomii, Coach.me, or the International Coaching Federation (ICF) directory.
✅ Business associations
Industry associations or local chambers of commerce might offer resources or recommendations for business coaches within your specific sector.
Take your time during the search process, ask insightful questions, and prioritize finding a coach who aligns with your goals and inspires confidence.
Top business coaching services
Some of the best business coaching services you can take into consideration are:
Noomii
Applicable for: all business types
Noomii is a facilitator that connects you with the right business coach for your needs. They function as a large online directory of professional coaches specializing in various areas like business, life, career, and executive coaching. This is particularly useful if you’re unsure where to begin your search.
Their system works by having you describe your goals, background, and budget. With this information, they match you with up to five coaches whose experience aligns with your specific requirements.
Noomii even facilitates free 15-minute consultations with these potential coaches so you can assess their fit and communication style before making a commitment.
This approach streamlines the search process and allows you to find a business coach who can provide targeted guidance to help your business thrive.
John Mattone
Applicable for: Entrepreneurs, small business owners, sales leaders.
John Mattone Global Inc. focuses on executive coaching, specifically through their “Intelligent Leadership” program. This program is designed to help business leaders explore their full potential and become more effective.
John Mattone, the founder, is a recognized authority on leadership development, having coached over 250 CEOs throughout his career. His program emphasizes self-awareness and practical strategies to cultivate strong leadership qualities.
Business Success Solution
Applicable for: Accounting firm
Business Success Solution (BSS) targets accounting firms looking to improve their profitability and efficiency.
Their core coaching service revolves around a concept they call the “Raise Your Rates Formula.” This program aims to equip accounting professionals with strategies to transition from an hourly billing model to a value-based pricing structure.
BSS promises increased revenue, lighter workloads, and the ability to attract higher quality clients through this value-based approach.
Strategic Coach
Applicable for: CEOs & Founders
Strategic Coach positions itself as a business coaching program for growth-oriented entrepreneurs.
Their program is designed for founders and CEOs who have already achieved a minimum level of success, with a net income of at least $200,000 annually and at least three years of experience running their current business.
Strategic Coach focuses on a holistic approach, addressing both personal and business aspects. Their program emphasizes setting clear visions and goals, building a strong team, and creating systems for sustainable business growth, ultimately aiming to help entrepreneurs achieve a balanced and fulfilling life alongside their business success.
a)plan coaching
Applicable for: Individuals, organizations, and “changemakers”
a-plan coaching’s approach centers around a concept they call “MAPing,” which stands for Multiple Action Plan creation.
This method emphasizes clear goal setting and the development of various actionable plans to achieve them. a-plan coaching boasts a network of experienced coaches with diverse backgrounds, many having worked with leading global companies.
They offer various coaching programs, including one-on-one coaching, group coaching for teams, and training sessions, catering to a range of needs within the realm of personal and professional development.
Jay Abraham
Applicable for: Marketers, small business owners
Jay Abraham’s Abraham Group offers business coaching and consulting services with a focus on significantly increasing clients’ bottom lines.
Their approach centers on strategic marketing and business development strategies honed by Jay Abraham himself, a recognized authority in the field. The website emphasizes that Abraham has a proven track record of helping over 10,000 clients achieve substantial growth.
Their services seem suitable for executives or business owners seeking aggressive growth strategies and guidance on marketing, client acquisition, and overall business optimization.
Melinda Emerson
Applicable for: Small business owners, women entrepreneurs
Melinda Emerson, also known as “SmallBizLady,” offers business coaching services through her website succeedasyourownboss.com.
The focus seems to be on empowering and guiding solopreneurs and small business owners. She offers resources, articles, and presumably coaching programs geared towards helping entrepreneurs with various aspects of running their businesses.
Jordan Belfort
Applicable for: Entrepreneurs in sales-driven industries, aspiring salespeople
Jordan Belfort offers one of the most popular sales training programs called “Straight Line Sales.” These programs focus on his high-intensity sales techniques, which he claims can dramatically increase sales figures.
The emphasis seems to be on closing deals quickly and aggressively. Critics point out that these techniques can be manipulative and may not be sustainable for building long-term customer relationships.
How to choose a business coach?
Choosing the right business coach is very important, as your business’s most part, depends on their guidelines. So you have to choose very carefully.
Some points that you can keep in mind are.
✅ Define Your Needs and Goals.
Before starting your search, take a step back. Identify the areas where your business needs the most support.
Are you struggling with sales, marketing, leadership, or strategic planning?
What are your long-term goals for the business?
Having a clear understanding of your needs will guide your coach selection process.
✅ Research with your network.
You can talk to your colleagues, mentors, or successful entrepreneurs in your network. Referrals from trusted sources can be a great way to find coaches who understand your industry and its challenges.
✅ Check for online directories.
Numerous online directories list business coaches with varying specialties and locations. Consider platforms like Noomii, Coach.me, or the International Coaching Federation (ICF) directory.
✅ Linkedin Network.
LinkedIn’s powerful search function allows you to filter by keywords like “business coach,” “executive coach,” or specific industry terms relevant to your needs. You can also refine your search by location, company size, and even years of experience.
Explore profiles of potential coaches and pay attention to the content they share.
Connect with coaches who resonate with you and follow their activity. This allows you to learn more about their coaching style and gain insights before reaching out for a consultation.
✅ Industry-specific resources.
Industry associations or local chambers of commerce might offer resources or recommendations for business coaches who specialize in your sector.
✅ Check coach credentials and experience.
While certifications aren’t mandatory, some coaches hold certifications from reputable organizations like the ICF. This demonstrates their commitment to professional development and established coaching frameworks.
Look for coaches with experience working with businesses similar to yours in terms of size, industry, and growth stage. Relevant experience allows them to better understand your unique challenges and provide targeted guidance.
✅ Schedule initial consultations.
Once you have identified a few promising coaches, schedule initial consultations. Most coaches offer free introductory sessions, allowing you to assess their fit and communication style.
Prepare a list of questions to understand their coaching approach, areas of expertise, and typical client success stories.
Pay attention to the conversation flow and your overall comfort level. A good coach will actively listen, ask insightful questions, and inspire confidence in their ability to support you.
✅ Consider cost and package options.
Business coaching fees vary depending on the coach’s experience, location, and the package offered. Be upfront about your budget and discuss different coaching packages with potential coaches.
Focus on the value a coach can bring, not just the cost. A good coach can provide a significant return on investment through increased revenue, improved efficiency, and accelerated growth.
There’s no “one-size-fits-all” solution when it comes to business coaches. Take your time with the search process, prioritize finding a coach who aligns with your goals and inspires confidence, and don’t hesitate to ask for references before making your final decision.
Conclusion
Investing in a business coach isn’t just about improving your bottom line; it’s about investing in yourself and your future.
A great coach can be a sounding board, a cheerleader, and a source of invaluable knowledge. They can help you break through plateaus, avoid costly mistakes, and achieve goals you never thought possible.
Don’t wait any longer to take control of your success. Start your search for a business coach today!
