Business coaching has become, and continues to be, a huge asset in the arsenal of many entrepreneurs. More than ever, start-up companies, pre-revenue and even established businesses are taking on a business coach, or business mentor to take them to the next level. It is not difficult to see why, the benefits of doing so, even from the outset, seem clear. There are some less obvious ones to consider, when trying to understand why business coaching is important. There are some great examples of why business coaching will help your business, but as for why it is important…
Business Coaching Drives Financial Gain
The most clear and obvious reason, as backed up by Forbes, is to drive financial gain for the individual or business that is employing the coach. Any business, small, medium or large has to demsontrate a return on investment. Business coaches and business mentors are no different. Personally I have found that there are two ways that coaches can drive such a return on investment. One can be with general business foundational support, this is an area we have had huge success with for many of our clients. Newer entrepreneurs may require general business support and guidance. Secondly, and commonly in larger organisations that will have internalised more business skills and specialisations, is through sector specific coaching. For example a manufacturing specialist, or industry expert.
You Can Lean On Someone
Setting up a business can be lonely. Very lonely. Having a business coach or mentor gives you someone to lean in to when you need support. Whilst of course, any sort of coaching and mentoring is there for the academic and operational enrichment of a client. There is also the emoitonal support too. As a consultant, you are clearly focused on delivering the overall project, and stopping project creep is a big part of a consultants job. That doesn’t, however, stop the consultant being a great advisor to the entreprenuer. For our clients, we see this as a great added value of what we offer.