10 Beliefs Preventing Failing Business Owners Hiring a Business Coach

10 Beliefs Preventing Failing Business Owners Hiring a Business Coach

The best business coaches educate business owners through empathy, experience and expertise, not pitches, promises and prices.

But there are 10 beliefs that business owners need to overcome to enable them to maximise their return on investing in business coaching.

1. I know my business better than a business coach

No doubt you know your business better than anyone else. But sometimes that familiarity can be a trap for business owners. A business coach brings a fresh perspective and objective insights to the table.?

Working with a business coach doesn't mean admitting weakness or incompetence; instead, it's a wise investment in yourself and your business that can lead to greater clarity, confidence, and success.

A coach can help you identify blind spots, prioritise goals, and develop a clear roadmap to success. They can also provide accountability and support as you navigate challenges and strive for growth.?

2. Hiring a business coach costs too much money

Hiring a business coach does come at a cost, but it's essential to consider the potential return on investment.?

A business coach can help identify areas of your business that may be holding you back and provide actionable insights to help you grow and increase profits.?

Additionally, a coach can help you avoid costly mistakes and streamline your operations, saving you money in the long run.?

3. Business coaches don't know what it's like to run a business

While it's true that some business coaches may not have hands-on experience running a business, they often have extensive training and education in business principles and management strategies.?

Additionally, many successful coaches have worked with numerous businesses and entrepreneurs, gaining valuable insights and knowledge.?

A coach can offer a fresh perspective and objective advice based on their expertise, helping business owners make more informed decisions and grow their businesses.

4. Business coaching is unstructured and lacks methodology

Business coaching can be more flexible and personalised compared to traditional consulting, it does not mean that it lacks structure or methodology.?

Most business coaches have well-defined processes and frameworks to help their clients achieve their goals. These methodologies are often based on years of experience and research and are tailored to the unique needs and challenges of each individual business.?

By working with a coach, you can benefit from a proven system that has helped countless other businesses succeed while still receiving personalised support and guidance.

5. Coaching requires me to pay for the coach AND do the work

It’s important to remember that the coach is not there to do the work for you. They guide you, provide support, and share their expertise to help you achieve your goals.?

You are still responsible for implementing the strategies and making the necessary changes to drive results in your business.?

However, with the right coach, you can save time and avoid costly mistakes by learning from their experiences and gaining access to valuable resources and networks.?

6. My business is already successful enough

It’s important to remember that success is not a one-time achievement but an ongoing journey.?

Business coaching can take your success to the next level by providing new insights, strategies and perspectives you may not have considered before.?

Even if you are already doing well, there is always room for improvement and growth. Consider coaching an investment in yourself and your business, and the potential returns can be significant.

7. There's plenty of free information on the internet

There may be a lot of free information available on the internet, but it can be overwhelming and challenging to know what information is relevant to your business needs.?

A business coach can provide personalised guidance and support tailored to your unique circumstances, helping you cut through the noise and focus on what matters.?

Additionally, a coach can offer accountability and motivation, ensuring you stay on track and progress toward your goals.?

8. I don't need a coach now that I have ChatGPT

While ChatGPT can certainly provide helpful insights and guidance, it's important to remember that it's a machine-learning model and not a human being with years of experience in business coaching.?

A business coach can provide personalised support tailored to your specific goals and needs and can help you navigate challenges and obstacles that may arise.?

Additionally, a coach can hold you accountable and keep you on track towards achieving your goals. While ChatGPT can undoubtedly be a helpful tool, it shouldn't replace the value of a human coach.

9. The value of business coaching is non-measurable

The value of any activity is measurable so long as you take the time to understand it and set goals.?

There are many practical measures to determine the value of implementing business coaching strategies: incremental growth in revenue, increase in profitability, cost reductions, time-saved, increase in employee engagement, and enhanced customer experience.

The challenge for business owners is to know exactly what they want from their business. What are your goals? If you have ambiguous goals, then business coaching will be ambiguous. So make sure you start working with your business coach on your goals first and your actions a close second.

10. I don't need a coach - I just need more customers and better staff.

It's great that you're focused on increasing your customer base and improving your staff, but a business coach can provide personalised support and accountability to help you achieve those goals.?

The bigger question is why are a lack of customers and underperforming staff a perennial problem for businesses? And will that problem ever be resolved? And if not, what next?

The “what next” is not a future perspective of the business that a business owner alone can necessarily see.

"A coach is someone who tells you what you don't want to hear, who has you see what you don't want to see, so you can be who you have always known you could be." Tom Landry