If you’re on the fence about hiring a business coach or mentor then take it from me it’s worth the investment, I should know as I hired one too!
Online business owners are often the ultimate DIYers, assembling their dream projects from literally anywhere with just a laptop and a wifi signal. What they can’t figure out, they look up for free online.
Eventually, though, that stops working and isn’t the best way. Information overload and lack of ability to sift through bad advice leads to overwhelm – and lack of progress. Most of us get stuck somewhere, sometime, as we are building our businesses.
Buying business courses can be a big help. They can, however, also lead to a very slow bleed, as you sign up for more and more expensive courses only to find that you still aren’t seeing the bottom line results you want.
Hiring a business mentor or coach can help you make strides forward in your business. After all, not everyone who starts a business is an expert in business!
What is Business Coaching and What does a Business Coach Do?
They are an experienced, successful business owners themselves, and they have decided to use those skills to help other business owners succeed.
A business coach’s task is to help a business make, reach, and exceed big goals and help you to reach your full potential. To do that, an experienced business coach will help clarify and establish realistic and exciting goals, and then they will help plot out a clear plan to accomplish those business and personal goals. They are there with you along the way, standing with you as you navigate, succeed, fail, make course corrections, and learn from your mistakes. They’re also a great sounding board for any new ideas you have.
You might be wondering what happens in a business coaching session? Basically during your initial business coaching session, you and your coach will identify the areas of your business that are most in need of attention and focus. You’ll also determine the key business opportunity or challenge you’ll take into your first business advisory board meeting.
They also come with a bag of sales and marketing tools to advise you on, coaching training programs and a network of other best business mentors or best business coaches you might need along the way.
What is a Good Business Coach?
Business coaches are seasoned professionals who enable startups, entrepreneurs, and corporate leaders with advice and feedback based on their real business needs. The best business coaches combine real-world business experience with coaching skills like active listening and the ability to ask powerful questions.
Who Needs a Business Coach?
Everyone, at one point or another, needs a good business coach. Some people enjoy having a coach on-going while others like to hire the right coach for specific times like setting up your business, launching a new product or service, or hitting a rough patch with your sales, marketing efforts, or other areas of your business operations.
Of course, as the owner, you are accountable to yourself and your family, but your business and personal life goals can get lost in the shuffle of running your business. When you have a coach in your corner, they can help you stay accountable to your goals, share their best practices and challenge you when facing obstacles like imposter syndrome, family obligations, or specific business struggles.
Successful Entrepreneurs Who Had Business Coaching Sessions
Anyone striving to be successful in business might ask themselves: What do the most successful business leaders and innovators have in common? Some of the first names that come to mind who fit this description might be Steve Jobs, Eric Schmidt, Sheryl Sandberg and Jeff Bezos.
Beyond the obvious commonalities of wealth, success and propensity for world-changing innovation, these titans all received business coaching throughout their career. And not only did they all receive coaching, but they all received it from the same person — Bill Campbell.
Eric Schmidt – formerly the CEO of Google – has said before in Fortune Magazine that hiring a business coach was the best professional decision he ever made. He admits that it took some urging at first, as he was already a successful CEO of a rapidly-growing successful company.
Nevertheless, after being convinced by a Google board member, Schmidt decided to work with a skilled business coach and was amazed by the results. In an interview with Fortune Magazine, Schmidt said, “everyone needs a coach”.
Watch the video to hear why Eric Schmidt, Chairman of the Board and CEO, Google, believes all business people should have the right business coach…
Why Are Women Hiring a Female Business Coach?
Women entrepreneurs everywhere recognise the benefit of having a trusted advisor. Whether it’s for one difficult season (such as being shut down by a worldwide pandemic), or for the long-haul with accountability to focused goals, women business owners are recognising just how a female business mentor or coach uplevels their game.
My own team members are composed of female business mentors, small business coaches and consultants in lots of different areas – so I thought I would share my insight with you on why I think hiring a business coach, sales coach, or experienced mentor is beneficial to your business.
What Types of Coaches are there?
Business and leadership coach: use their leadership strengths and business know how to work with startups, small business owners or corporate CEOs who want to lead themselves, their teams and businesses better and improve their performance.
Career coach: Supports people who don’t know what their next career move should look like.
Sales coach: a professional sales coach is one who can teach you to sell, give you strategies to convert more of your calls, handle objections and reach out to potential clients. They will teach you when to sell and when not to sell.
Business & strategy coach: Helps business owners create long term strategy for their business with clarity and confidence.
Business coaches for entrepreneurs: Mostly work with founders and self employed people who run their own successful businesses.
Business and marketing coach: Has a similar approach to strategy coaching with more attention to marketing strategies and tactics
eCommerce coach: (often blended with mentoring and training): Focuses on online product based business, digital marketing & e-commerce growth.
Time management and productivity coach: Some coaches bring these topics to leadership coaching, some prefer to dedicate more focus on these topics for stressed out- burnt out entrepreneurs, employees or anyone who struggles with lack of focus and distraction.
Life coach, purpose and clear vision coach: Often addressed by life coaches , wellness or holistic coaches. Intended for clients who have no clarity over their life purpose and cannot decide how to move forward.
Business and mindset coach: Intended for business owners who believe their way of thinking, fears and mindset blocks keep them stuck.
Spiritual business coach: Brings spiritual practices and laws of universe into coaching. Suitable for clients who believe in these rules.
Executive coaching: Intended for high level managers and executives in larger organisations.
Social media coach: Working with business owners to help them generate leads and clients from there social media channels
As Julie Starr, the writer of “The Coaching Manual” says, you can’t coach knowledge and facts: sometimes you need information and clear directions when you start in a new field. In this case you might want to consider a mentor who is experienced in the area you need help for.
A mentor does not necessarily need to be certified, they just need to have enough evidence of experience and achievement. Tony Robbins who is one the most popular life coaches in the world is not certified!
Why Hire Business Coach and the Benefits of Business Coaching?
Hiring a business coach is key to business success!
Here are 7 reasons why you should hire a professional business coach this year to help with your professional developement.
What are the benefits of coaching?
1. Save you time
It’s much faster to learn business skills from someone who knows what skills you need, when you need them, and how best to teach them to you.
Yes you can learn the world online but figuring everything out on your own is tough, and the mistakes you will make along the way can be costly. The danger of simply running out of time and money to the point that you quit entirely is real.
A female business coach is the ultimate shortcut – they already know the ins and outs of online business, and a good coach’s superpower is combining their knowledge and skill with your passion to get your business moving – now.
2. Connections
Believe it or not, female business coaches are very well connected! They spend most of their time listening to others and working with high-achievers. By getting to know your story and desires, your business coach can connect you with others that they meet or already know.
If you do any sort of B2B, you will want a business coach in your corner! If you’re B2C, then your business coach most likely knows someone who is getting in front of your ideal client and can help you build strategic alliances.
3. Accountability
Coaches are known for their accountability. As the client, you present your ultimate goals and plans for the business. Then, your coach holds you accountable to those goals and action plans along the way. When you start to get off track or show signs of losing focus, your coach will often remind you of the goal and challenge you to stay focused on the long-term plan. This is imperative if and when you’ve got many people trying to pour advice into your life.
4. More Profit Margin
Time is money – it’s a cliche for a reason.
Your business mentor can save you a lot of time getting your business headed in the right direction – which equals money in your pocket. An entrepreneur’s time is the most valuable resource they have.
A strategic coach can often improve a business’s profits and bottom line pretty quickly, starting early with a few tweaks. Over time, the different in cash flow can be dramatic.
5. Think Like a CEO
For those of you wanting to grow or scale your business, a CEO mindset is crucial. What we see most often is that female entrepreneurs consider themselves freelancers rather than CEOs.
So it’s important to hire a business coach who can help you shift the mindset if you ever want to work less hours while making more money. Many times a boost in income comes immediately after one accepts the CEO role in their own mind. So simply thinking like a CEO can have its financial benefits!
6. Become a Better Leader
A great business coach will challenge you to become a better leader for both your business and team. Even if you’re a solo-entrepreneur with no plans to hire a team, understanding and thinking as a leader will enable you to efficiently and effectively grow your business. You are the leader of the business.
7. Real Results
Business coaching requires the tracking of Key Performance Indicators (KPIs) or other measurable factors so that they can verify that your business is heading in a positive direction. They will help you choose your KPI’s, track them and hold you accountable for them.
Business Coaching Services Vs. Best Business Courses Online
Courses are great! I love courses, and buy and use them to grow in different areas. They are great for filling in gaps in knowledge, especially technical.
The main difference between business coaching and online business courses is that courses are self directed and low-touch. They also come at a lower price point than coaching.
The lower cost is appealing, and carries less financial risk. But, partly because of the lower investment, course students frequently don’t finish or implement what they are learning.
Also, no one personally holds you accountable in a course. It’s important to know yourself: are you someone who will be able to do this well, mostly on your own? Or would you make better progress if you had a more personal experience?
Hiring a business, marketing or sales coach or mentor, is a very different experience from taking a course.
Instead of being self-directed, you’ll have someone in your corner, holding you accountable to your business goals. You’ll have in mind both the big picture and also the steps it will take you to get there.
Your coach has direct access to your business; they can stand with you as you make tough decisions, pioneer new ideas, and work through tough mindset issues that keep you stuck.
Business owners that hire a coach will make much faster progress than those who do courses alone. That progress, though, does come with the risk of a greater financial investment.
This is a critical part of the decision between course and business coach help: there is a choice between higher risk for the potential of faster and better progress, or lower risk for slower progress. That choice will look different for every person in every situation.
Business Coaching Statistics
A business coach helps entrepreneurs build and grow their businesses. How effective is business coaching? Let’s find out.
- According to Eric Schmidt, Google and Apple owe much of their trillion-dollar valuations to their business coach, Bill Campbell. (CNBC)
- 80% of coachees report increased self-confidence. (Institute of Coaching)
- 70% of coaches improve work performance, relationships, and communication. (Institute of Coaching)
- One in six entrepreneurs turns to coaching to improve their performance. (Forbes)
- One-third of successful entrepreneurs have turned to a mentor or support group (only 14% of entrepreneurs with failed businesses have done the same). (Xero)
- 33% of founders who are mentored by successful entrepreneurs go on to become top performers. (Endeavor/TechCrunch)
- Only 22% of entrepreneurs have mentors when they start their businesses. (Kabbage)
- 92% of small business owners agree mentors have a direct impact on their growth and the chances for their businesses to survive. (Kabbage)
- 89% of business owners who don’t have a mentor wish they did. (Kabbage)
- 30% of business owners who had just one interaction with a mentor reported growth. (SCORE)
- The top three things business owners ask their mentors for help with are human resource issues (61%), growth/business expansion (59%), and start-up assistance (53%). (SCORE)
- 88% of business owners with a mentor say that having one is invaluable. (UPS)
- 70% of entrepreneurs who receive mentoring survive 5 years or longer. (UPS)
Sales Coaching Statistics
Sales coaches help entrepreneurs or sales teams to improve their sales skills. But does sales coaching result in higher sales? Yes, it does. And here are the numbers to back it up.
- Sales coaching helps improve win rates for forecasted deals with 27.9%. (CSO Insights)
- Sales coaching can improve the performance of the middle 60% of an organization’s sales reps. High-quality coaching can improve it by up to 19% and moderate coaching can improve it by 6-8% across 50% of the sales force. (Harvard Business Review)
- It takes companies 2-3 years to establish their sales coaching programs. (Value Selling Associates)
- ⅓ of high-performing companies have ongoing sales coaching signature programs. (Value Selling Associates)
- Over half of companies with formal coaching programs in place for 3+ years experience high growth. (Value Selling Associates)
- Almost half of the organizations that have effective sales coaching programs rely on outside coaches. (Value Selling Associates)
1:1 Business Coaching Vs. Group Coaching
Group coaching is more affordable than 1:1, has less support (but more support than a course). Usually, group coaching has some kind of course content/plan to it, so that you are going through the material together with a group of people at a similar level to you.
I find having a group of people to work alongside boosts motivation and you can support each other as you go through the coaching together as a team.
The Right Questions to Ask a Business Coach
Once you determine that a business coach will help you, it’s time to hire someone. You should consider them like you would any other potential employee.
Consider some of the following business coaching questions when deciding on the best in-person or online business coach.
❓What’s is your coaching experience?
❓Have you worked with similar businesses?
❓What do you value in business?
❓Do we have compatible personalities?
❓What’s the best thing about your skills?
❓How do you measure your client’s progress?
You might also want to think about their physical location. What Country are they in? Are they in the united states, united Kingdom.
If they’re the same country as you, how close are they? A business coach, London based which means they might be easy to meet (depending on your location)? Do they often host networking events? Read more about what questions to ask a business coach.
How To Find And Choose A Business Coach
The first place to look for a business coach is in your own network. Reach out, ask around, and see if you can find some good referrals. A personal referral is great, but you can also ask for referrals in any relevant groups you are in on Facebook or LinkedIn.
When you have narrowed your choices to two or three options, there are some crucial steps to take:
👀 Look at reviews and real results. If you can, talk to people that have worked with them.
⏰ Take your time deciding. This doesn’t mean you necessarily have to take a long time, but don’t rush it.
🗣 Reach out and have a conversation with them; it’s very important that you feel that you can work well together.
🌟 Be clear on exactly what you want
🧐 Keep an open mind. Don’t let a poor money mindset or fear of failure keep you from taking the actions that will benefit you the most.
How Much Does a Business Coach Cost?
Have you been wondering how much a good business coach costs and how much you should invest?
Each business coach cost can vary widely depending on the coach’s portfolio and industry experience. You often won’t find their costs published online and will need to speak to them to find out more.
While a business coach cost can be a big expense for your business operations, it’s important to consider it as an investment, too.
But remember – depending on your business, your overhead costs and your need for effective coaching, there’s an option in the business coaching world that’s right for you.
Hire Me as Your UK Business Mentor and Sales Strategist
Hiring a business coach or mentor involves some research on your part. You want to have a good fit for each other be able to communicate effectively. Typically, working with a coach is a long-term relationship. You need to trust that she has your back which is why I strive to empower you while challenging you to build the business of your dreams.
I’ve always enjoyed mentoring women business owners on their path of entrepreneurship. I’ve watched MANY breakthrough moments happen directly from conversations with my coaching clients over the years.
It is important to find a business mentor or coach that listens, cares, and shows up when you need them. It is even more important to find a business mentor that has experienced failure and admits to it.
Why Take My Advice?
Having come from a corporate sales background and studying business at University to Masters level, I am very much from the business world.
By transitioning my skills into bespoke coaching packages my clients benefit from key leadership skills and sales strategies used to successfully and consistently create business strategies desired results in their business.
As an example, I believe a genuine network of fellow entrepreneurs and business owners together can achieve great things. Impacting all parties, the planet and its people. A great business coach should encourage a quality network and be happy to connect you to opportunities and collaborations.
Finding the right business coach can greatly increase your sales, business growth and most importantly your ability to meet your business mission with support and guidance from someone who has walked the walk.
Be sure to do your research, have a chat with your potential coach about both of your expectations and explore the possibilities before you jump in.
Here’s to a match made in heaven in your pursuits to find your ideal fit and find your clear path to greater success.
Jade *
Get Started with Free Business Advice from Jade Jemma
You can join me in the Freedom Business Hub, a FREE community to learn to sell more, find out how fellow entrepreneurs are riding out the current climate and so much more! Plus – I’ve got loads of free Sales Swag (advanced trainings and resources) that would be perfect to get you started.
If you’d like to get in touch with me to discuss the challenges you face and where you need help then feel free – I’d be happy to help!
Get Started with Free Business Advice from Jade Jemma
You can join me in the Freedom Business Hub, a FREE community to learn to sell more, find out how fellow entrepreneurs are riding out the current climate and so much more! Plus – I’ve got loads of free Sales Swag (advanced trainings and resources) that would be perfect to get you started.