By all accounts, every business owner could have a coach! Coaches make a positive impact. At Systems Business Coach alone, we’ve been able to increase the survival rates of Canadian businesses by 20% and help over 300 small business owners find freedom and prosperity.
So why doesn’t every business owner have a coach? There are a few things that stop entrepreneurs from finding and hiring a coach:
- How can I afford business coaching if I’m already stretched for cash?
- What if I spend my hard-earned money on something that won’t help?
- What if my coach knows nothing about my industry?
These are all valid questions. Let’s address them so you can find the right business coach for you.
1. How to find a coach in your budget
I hear you. Business coaching can cost thousands of dollars a month, and as a small business owner, you know that you need to be smart with your money if you want your company to grow.
So what do you do when your budget is tight and your dreams are big?
Consider group coaching
Group coaching is amazing because you get the benefits of having a coach, plus you can connect with like-minded entrepreneurs who understand what you are going through, all for a lower cost than 1-on-1 coaching.
In our experience, this type of coaching is highly successful for entrepreneurs. From the Systems Business Coach® group programs I’ve seen the following:
It’s possible you can cover the cost of your coaching with grants from your local government and economic development agencies, depending on the program you are interested in.
For example, there’s the BC employer training grant in British Columbia. As a business owner, you can get coverage for your own training. Direct 1-on-1 coaching is not covered in this grant, but certain group training programs are.
You can take 20 minutes today and research grants that can help you expand your coaching budget.
Look at ROIs
What are your long-term goals?
Sometimes coaching may feel out of budget. Yet, when you dig into your numbers you may find the cash is there and it’s being spent on other things.
Check out your financial documents. Maybe you have recurring fees for programs you don’t use anymore or you can find a different supplier with better rates. There’s always a way.
The return on investment for business coaching is high! My client Andrew reported “Our income has more than quadrupled, and we’ve won awards for both growth and profitability. Our staff has tripled, as well as the number of customers in our portfolio.“
Another client, Tracy, opened multiple locations and found freedom in running her business. If you’d like you can listen to her full story here:
2. How to find a coach that helps
A coach may have lots of experience and glowing reviews, yet if their way of doing things doesn’t align with you, you won’t see the growth you desire!
Consider their methodology
What is the coach or organizations approach to helping business owners?
Some questions you could ask that may give insight into how they run their coaching practice is:
- What’s their company promise?
- What are their values?
- How do they measure success?
- What systems do they have?
- What tools and resources do they use?
Test it out
Maybe there are a few coaching organizations that catch your eye. Reach out and see if you can talk to the coach before signing on with them. For example, at Systems Business Coach, we offer a free 1-on-1, no obligations coaching session.
Even if you don’t sign on long-term with a coach, there’s loads of value in just one coaching session. Sometimes, in a single session, entrepreneurs see new opportunities, become inspired or feel relief that they don’t have to do this alone.
Check-in with your potential coach and see if you can connect with them before you sign-up!
3. How to find a coach in your industry
How do I find a business coach in my specific industry with more knowledge than me to help me grow?
The answer is you don’t.
After selling my hugely successful travel agency, I tried coaching travel agents. They were not interested in my advice. No one likes being told what to do and because I had all the answers, I did a lot of telling back then.
Human beings respond to questions. Our brains are hard-wired for them. This is why coaching is so much more powerful than consulting. Coaches ask questions and listen. Chances are you would see more growth with a coach who is trained in coaching rather than a consultant who knows your industry.
The reality is, you are the expert in your business. A coach is there to walk beside you, help you gain clarity about the direction you want to go, and help you remove any barriers to achieving success.
At Systems Business Coach®, any one of our great coaches can help you grow your business because they follow a program that took me 12 years to fully develop that covers all of the business competencies you need to achieve any business goal. Certified Systems Business Coaches® can help their clients build a successful business…any business.
Consider interviewing your top two choices. Which coach has the training, resources and methodology to best support you?
I hope this helps you find a business coach that supports you and your vision.
Reach out anytime.