This professional can serve as a personal trainer of sorts, assisting you in boosting your business acumen to ultimately strengthen your company.

If you’re a company owner or executive, you may have considered hiring a business coach at one point or another—after all, even highpowered leaders like Microsoft cofounder Bill Gates and Target chair and CEO Brian Cornell have used one. Follow this guide to determine whether coaching is a good investment for you and, if so, how to find the best person for the job.

What is a business coach?

This is someone who advises a leader on business matters and helps them strategically position their company for success. Whether they are a seasoned professional in your industry or someone with advanced educational training, they can help you build your confidence and leadership skills and find solutions for the specific challenges you face.

Keep in mind, however, that a business coach should only serve as a valued guide, not as someone to do the work for you. For instance, if you’re struggling with improving your company culture, their job is not to speak to your employees or run team-building exercises themselves. Rather, the role of a coach is to share from experience and guide you in the right direction so you can implement the necessary steps to propel your business to success.

Coaching benefits

Consulting a business coach can be beneficial at any stage of your career or your company’s development. If you’re just starting out, they can help you learn the ropes of building a business and understand the specific nuances of your industry. They can also assist you with basics like creating a business plan, building your company’s mission statement and values, and hiring and training staff. Likewise, if your company is beyond the start-up phase, an experienced coach can provide the knowledge you may need to guide it as it grows, lending assistance in areas such as finance, employee management, and marketing. Overall, a coach can offer an unbiased look at your company’s health and how it’s managed to assist you in determining the best way to position it for success while also avoiding costly and damaging mistakes along the way.

Finding the ideal coach

When seeking a coach, you’ll want to look for an expert who has both business acumen and good leadership skills. This means their resume should boast either a business degree or solid industry experience (such as in launching or scaling a business) and they should demonstrate a proven coaching track record, good listening skills, and a positive attitude to nurture and motivate you. A good place to begin your search is by requesting referrals from business owners or professionals in your sphere or by utilizing your LinkedIn connections. As you parse candidates, be sure to check reviews from their former clients to ensure that their background and methodology fit your needs; you might also be able to gauge this by following them on social media and evaluating their style through their posts and videos. Finally, ask for the opportunity to chat with candidates to assess whether their personality and values truly mesh well with yours.

Working with your coach

To get the most out of business coaching, you’ll need to meet with your coach at least twice a month for several months or even years. Before you begin, establish areas you’d like to focus on, whether it’s setting goals, honing your leadership skills, streamlining your day-today operations, or improving your marketing strategy. This will ensure you’re on the same page about the purpose of your collaboration. Furthermore, fully profiting from a coaching relationship will require a commitment to the process and even a little bit of vulnerability on your part. But once you start seeing results, you’ll be glad you put in the effort.

TAKE ACTION:
Evaluate your business coaching needs, and ask for coaching referrals within your sphere.