A study by the Stanford Business School found that nearly two-thirds of CEOs don’t receive business coaching or leadership development. Yet in the same study nearly 100% said they would like to enhance their development through coaching.
So why is there a gap between their desire to develop their leadership skills and action to do this? The answer probably lies in the CEO/Business Owner’s understanding of what they think they need and their perception of what business coaching can deliver. For many the perception is that business coaching is remedial, or that it involves being “told what to do”.
In fact business coaching is the opposite of this, it enhances performance and helps to develop critical leadership and thinking skills. It can help to build clarity around objectives and goals, improve interpersonal skills by helping increase self awareness and the impact of your behaviour on those around you.
By helping to fine-tune the ability to see the perspectives, aims and values of others it can also help to reduce conflict.
Whilst business coaching focuses on the development of specific skills such as leadership, it can also provide a different form of development.
A business coach is able to bring you their experience of many years of running a successful business and will be capable of guiding you down the same path.
Here are a few things a business coach can do for you:
Increase Your Profits
Since they have already figured out how to do this for their own business they will be able to pass that knowledge on to you to use in your business.
Skills & Experience
A business coach can bring the skills and experience to make you a better business person. They will be able to spot things you are doing wrong and suggest how to improve them. They can take an impartial view and highlight bad habits that are bad for your business. The business coach can then help you to change those habits and develop new ones that will have a positive impact. It is sometimes just a few small changes that can make a real difference.
Increase Your Confidence
There is nothing worse than going into a business every morning that is struggling to make a profit, or wrestling with making critical decisions on your own. Yet a business coach can teach you all the skills you need to build a profitable business. By passing these on to you your confidence will skyrocket as you implement your new skills, see an improvement in your profits and will in turn start to enjoy running your business.
Since it is your business, not the business coach’s they don’t have the same personal attachment to it. When it is your own business your emotions can get in the way and you can miss things that are obvious to others. A business coach can pick up on this, identify improvements you can make and put you on the right track.
Anita Roddick, founder of The Bodyshop once said “We entrepreneurs are loners, vagabonds, troublemakers. Success is simply a matter of finding and surrounding ourselves with those open-minded and clever souls who can take our insanity and put it to good use.”
So if you are interested in finding more about how a business coach could help you to grow your business and how to work with a mentor simply click here to contact us and request a copy of our “How to Choose an Executive Coach.