I remember the first time the question popped into my head: I was at a networking event listening to one of my frenemies talk about how wonderful her business was doing thanks to the help of her new business coach. My company, Popcorn Productions, was barely 6 months old at the time but I couldn’t help but repress a sense of anxiety. It was a clear FOMO (fear of missing out) moment…one that got me soon investing in a series of business coaches.
The thing about business coaches is that they are like a fancy pair of shoes –either the perfect fit or a total waste of money. Having experienced both (no name dropping!) and being exposed to the world of the entrepreneur –where having a business coach is more common than owning a pair of All Start Sneakers –knowing how to choose the right coach for you can be priceless.
For those who don’t use a business coach, the idea that someone could guide you to success might seem a bit strange…or fantastical. But when you find the right coach then it’s very similar to having a business advisor only with a little more cheerleading.
The first thing to know about finding the perfect business coach for you is determining if you really need one. There are various reasons to invest in a coach but a few main reasons are: If you’re business is stuck and no longer expanding, you aren’t packaging or pricing your services correctly (and might not even know it!) or are looking to bring your business to the next level.
Once you have decided whether having a business coach is a worthy investment then here is a tip that will save you thousands of dollars: Know the coach you hire. I don’t mean personally, but professionally. What most people don’t know is that business coaches are often specialized in one area of business. From finding your passion to doubling your sales to transforming your business into an industry leader, business coaches may all promise you “success” but make sure their definition matches yours. Read some of their blog posts, do a free consultation and ask around for feedback from previous clients.
Know also that having a business coach is very much a form of therapy (that might explain why people often mention their coaches in a hushed tone). It’s a costly financial investment but also one that will ask for you to invest the proper amount of time, delve deep and ask questions you might have tried to avoid i.e. What am I doing? What is the bigger picture? Is this really my passion?
Personally, investing in a business coach has been one of the best business decisions I have made to date. As much as I believe in experiential learning, I am also a believer in investing in your business and taking appropriate risks to get to the next level. And, investing in the right business coach when your business is in transition or getting off the ground can be just that.
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