Business Coach for Entrepreneurs—Where Do I Start?
Not everyone has what it takes to be an entrepreneur; it’s a career path that requires boldness, adamant determination, the ability to think strategically and creatively, and the courage to always bet on yourself—even when faced with relentless uncertainty.
One thing is for sure: every entrepreneur has what it takes to be a successful entrepreneur—but the path to success can be elusive.
Why do entrepreneurs need coaching?
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An entrepreneur is the captain of their ship; they face hurricane winds, tsunami waves—every good and bad thing that entrepreneurship throws at them—all the while holding on tightly to the helm.
And just like a captain always needs a trustworthy first mate to chart navigation plans, perform ship inspections, and lighten the captain’s load, an entrepreneur needs a business coach to help pave the course to success.
An entrepreneur’s passion, ingenuity, and boldness have probably opened many doors and led them closer to achieving their dreams, but heart and eagerness can only take you so far.
Without a coach to push you to improve continuously, to help you bend without breaking, to point out your blind spots, an entrepreneur will face the rising tides on their own and risk sinking to the bottom.
So, if you’re an entrepreneur that’s looking for a first mate to help round out some of those rough edges and stay ahead of the competition, or if you need serious help with overcoming certain hurdles in your career—here’s a comprehensive guide covering the value of entrepreneur coaching and how to get the ball rolling:
What do business coaches offer entrepreneurs?
Entrepreneurs face challenges that are specific to the nature of their profession. These challenges pop up like whack-a-mole from the start of a career all the way to retirement, and no entrepreneur—no matter how successful— is immune to them.
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Here are 4 ways a coach can take an entrepreneur’s career to the next level:
Being your own boss
This has its advantages and disadvantages. Although you still have to answer to investors, clients, or partners, business owners act as their own boss when managing their time and resources.
Not having a boss that will fire you if you come into work late or skip out too early can give you more freedom in your life, but it can also be detrimental when you don’t know how to manage your time wisely.
Many entrepreneurs fall into this trap; some end up overworking while some fall into the endless loop of procrastination and rushed last-minute scrambling.
A coach will step in to evaluate your time management skills; they will assess what you’re doing and fill in the blanks on how to sharpen your scheduling skills.
Furthermore, when working on creating a consistent and manageable work schedule, a coach will help you create boundaries to separate work, recreation, and rest. When your work life and personal life boundaries are respected, you are better rested, less stressed, and able to maximize work hours.
2. Extra set of eyes and ears
Being an entrepreneur can be lonely and sometimes isolating.
When you are the only one looking at an issue at hand, say you're developing a new business model or pondering a new business opportunity. After a while, you begin to develop tunnel vision, and everything in your periphery is blurred.
A coach can offer a different and unbiased perspective on any issue, making you look at the bigger-picture or offer alternate ideas and visions to keep you thinking outside the box.
The same tunnel vision can happen when developing your action plans and goals; you can develop a sort of “writer’s block” that prevents you from exploring new ideas and paths.
A coach can offer their ears and act as a sounding board, helping you harness your creativity and expand your dreams and goals.
3. Accountability
Being accountable is a difficult thing to achieve on your own. When you’re the only one keeping tabs on yourself, you can get away with doing and not doing certain things—at the end of the day, the only person that suffers the consequences is you.
It’s one thing to set goals and another thing actually to follow through on those goals.
A business coach will help you create an action plan and then hold you accountable to follow through with each step and milestone to bring you closer to achieving your goals.
Your coach will be there to hold a mirror up to yourself to remind you of what you’re working towards and where you are in that process.
4. Increase profits and earnings
At the end of the day, money is the name of the game.
Improving your work ethic, hitting professional milestones, and acquiring more knowledge are all commendable ventures which are usually fueled by an ambition to increase your earnings and become financially successful.
Money makes the world go round, and one of the main goals of any coaching program is to somehow make you more profitable.
The proof is in the pudding; as more and more coaches increase the profits of one business to the next, more individuals and corporations seek out the coaching business, and so on.
In fact, IBISWorld industry statistics say that the business coaching industry's consistently rising popularity is due to its evident ability to increase profits. And as of 2021, corporate profits from business coaching are increasing steadily.
Take, for example, Robert Viney, Jack Canfield, Loren Fogelman, or Dan Sullivan; all entrepreneur turned coaches who have made fortunes for themselves and have countless success stories.
Entrepreneur Coaching Services
According to Forbes, “entrepreneurship today encompasses ventures of all kinds, and anyone paving their own path has roots in entrepreneurship.”
For all of the different kinds of entrepreneurs out there, ranging from various industries, work styles, experience, income, etc., there are different kinds of business coaching services to perfectly fit their needs.
Business Coaching
A business coach is the dependable coaching choice for most entrepreneurs who want to grow their business and careers.
They get right down to business to clarify your vision, improve your business strategy, and increase profits.
A business coach will focus on improving your professional performance, creating actionable plans, and enforcing the execution of said plans.
Of course, there are also business coaches with specialized knowledge, skills, and experience who carve out their own niche within the coaching world.
For example, some business coaches who are parents know the specific struggles that parenting can bring into your career. Some of these coaches decide to cater to mom entrepreneurs because they believe their skills and resources will be most useful to this demographic.
Specialized Entrepreneur Coach
Another up-and-coming niche is the specialized entrepreneur coach.
Let me put it this way, all entrepreneur coaches are business coaches, but not all business coaches are entrepreneur coaches.
Entrepreneur coaches are usually current or former business owners themselves and have a lot of experience with the ins and outs of entrepreneurship.
Being familiar with the life of entrepreneurship allows these coaches’ to connect with their clients on a deeper level.
This connection facilitates the coach's ability to help their clients develop better business models and get results according to their personal beliefs, goals, and values.
These business coaches dedicate their practice to helping entrepreneurs of all backgrounds, ages, and incomes.
Small Business Coaching For Small Business Owners
A small business coach can offer invaluable advice and services to any small business owner. These coaches are focused on creating longevity and steady business growth.
They can help you create a business plan that is personalized according to your community, industry, and products offered.
A small business coach will help you achieve much more than just breaking even and can set up your small business for long-term success.
Executive Coaching
If you’re an entrepreneur or CEO at the helm of an organization or company, an executive coach specializing in training executives and business leaders is your best bet at life and business success.
When startups and companies are launched, a CEO or founder has a significant impact on its growth and direction.
Executive coaches have years of experience being entrepreneurs and leaders themselves. They can positively impact a company's success by teaching their clients how to deal with problems efficiently and consistently promote progress.
Whether you've just launched a grassroots startup or are an already successful business owner making a 7 figure salary, executive coaching will take your career to the next level.
Subject Matter Expert
These coaches are experts in their respective fields. They are specialized and well versed in a particular area and offer their services to those who need help or improvement within their field of knowledge.
For example, many older entrepreneurs aren’t very well versed in the marketing culture of social media. A subject matter expert specialized in marketing and social media can help you grow your business and increase cash flow through your online presence.
When business owners address a specific problem area within their business plan or strategy, they are always surprised to see how, along the way, many other aspects of their operation begin to fall into place—turning their already great business into an incredibly successful business.
There’s a subject matter expert for every area you can think of that needs improving.
How to connect with the best business coach for your needs
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To figure out what kind of business coach you need, you have to ask yourself:
What kind of entrepreneur am I?
What are my hopes and dreams?
What am I hoping to gain from coaching?
Once you know what coaching path is right for you. Here is a more comprehensive guide that lays out the step-by-step process of hiring a business coach, from looking online to conducting interviews.
Hiring the best business coach for your needs is an endeavor that requires a lot of careful consideration as you will be putting a lot of trust in your coach.
Luckily, there are sites like CoCaptain that operate as a one-stop-shop platform to cover all of your business coaching needs.
They personally vet coaches, handle all of the scheduling and administration, and guarantee a wide range of price options and coaching programs that are affordable for every budget.
Bottom Line
Navigating new and unexplored territories is a big part of an entrepreneur’s job. Their ability to successfully navigate through uncharted waters will determine their success.
But you don’t have to do it alone.
Every captain needs a first mate to help steer the ship in the right direction, point out blind spots, and take you further than you could ever imagine.
As an entrepreneur, have you experienced any times in your life when you would have benefited from a business coach?
Share your experiences below:
