If you’re an entrepreneur there’s a good chance you’ve heard about business coaching, you know a business coach, or someone you know has worked with a business coach. But do you know what this service is and how your business can benefit from it?
There are all kinds of business coaches. A business coach can help you with anything from clarifying your vision for the business to running its day-to-day operations. The coach you hire and the services you need depend on you, your business, and your goals.
Business Coaching Benefits
The benefits of working with a business coach are as varied as the reasons for working with one. A major advantage to hiring a business coach is they have experience working with other business owners as well as running their own business. You’re getting the benefit of learning from their experience, which could shave a lot of time off the development of your own business.
If it’s something you want, a business coach can be there to hold your hand every step of the way. If you just need someone to consult with once in a while, that’s an option too. The business coaching experience is as individualized as you and your business. Because of this, the benefits of business coaching range from soft skills like learning new ways to do things, to concrete results like increasing revenue.
The Accountant as Business Coach
At Virtual Heights Accounting, our business coaching services focus on profit and growth strategies. We look at your business as a whole and integrate its key elements to create a plan you can build on.
Accountants are uniquely qualified as business coaches. Not only do we understand the numbers in your business, but we’ve had training in multiple areas of business including marketing, human resources, and communications. Understanding numbers such as gross profit and return on investment, as well as the activities that can improve these numbers, helps us show you how to positively impact your bottom line.
When to Hire a Business Coach
There is no wrong time to hire a business coach. You can work with a business coach at the very start of your business or if you’ve been in business for 20 years or more. The key to working successfully with a business coach is knowing what you want to get out of the relationship.
Here are some situations where working with a business coach can help:
- You know you need to change something in your business, but you’re not sure what.
- You need help creating an action plan.
- You work best when you have accountability.
- You’re not sure which key performance indicators you should be monitoring.
- You want to grow your business but you’re not sure where to start.
- You’re just getting started and you want to get set up quickly.
As with any service, results from business coaching will vary between businesses and entrepreneurs. You must be an active participant in the process. Business coaching isn’t for you, if you expect results without doing the work. It’s like trying to lose weight without making any lifestyle changes.
That being said, there are some clear advantages to business coaching. If you’ve been thinking about hiring a business coach, but you aren’t sure if it’s the right move for you, book a complimentary consult here.