Business coaching is an intentional interaction between a coach and an entrepreneur endowed with the capacity to take their business to a higher level. This thought-provoking process assumes the coachee is the domain knowledge expert, the master of their craft, and already applies their expertise in running their organization. The work of the strategic business coach, on the other hand, is to assist the entrepreneur to generate the strategies and solutions needed to grow their enterprise.

A Quick History Lesson on Strategic Coaching 

Coaching, as a word, is most associated with sports since it emerged in the early 19th century. The work of the coach was to help athletes achieve the full potential of their talents. 

In the 20th century, management training programs were very common. Managers from different  businesses would participate in the program. The programs were normally pre-set to cut through all businesses. Little consideration was given to the specific needs of each industry or client. It was one-size-fits-all program which proved to have more disadvantages than advantages.

In the 1990s, the need for custom mentoring for business began to emerge. At first, coaching was aimed at improving the performance of the poor performers to make them more productive. My, how things have changed! 

Coaching Trends 2015

As the business world evolves, do does coaching. New approaches replace those no longer yielding intended results.

Some of the top trends in small business coaching today include: 

• Balance & energy. With the ever-increasing volume of information filling our day, coaching for balance & energy focuses on reducing stress, improving productivity, and finding new, and better, ways of working. With greater efficiency and effectiveness comes new-found energy to help ease the pressure of demand.
• Strategic planning & thinking. Joining forces with balance and energy, coaching on strategic planning and thinking focuses on better ways to achieve your goals. Together with your coach, you develop workable ideas to improve performance and uncover better, faster ways of getting to the end game. 
• Clear line of approach. You are the expert in your field. You have numerous opportunities for business growth. Collaborating on your business potential, your coach helps draw a more direct line to your goals.
• Direct feedback.  Its not easy being objective about our own business. A strategic business coach, as an objective point-of-view, can more easily see the pitfalls, and the prospects, that await you. Are you on track or off track? Together with your coach, you won’t have to guess. 
• Trend watching. With all the demands of running a business, you may not always have time to keep up with the changing tide. A strategic business coach is a trend watcher and keeps you abreast of shifts in consumer behaviors and opportunities available. 
• Tools and technology. Technology is rapidly changing the business landscape. New tools are developed daily to improve the efficiency and effectiveness of your business. It’s hard to keep up! A strategic business coach can guide you through the maze of “gizmos and gadgets” so that your enterprise remains relevant. 

Business Coaching ROI

Each and every action in your small business benefits from a quantifiable return on investment (ROI). What kind of ROI does strategic small business coaching provide?

Statistics obtained from surveys done on businesses show that the ROI on business coaching is very high. One study done on a Fortune 500 company revealed that executive coaching ROI was as high as 529%. Another study showed that for every dollar invested in coaching, the return was $7.90. That’s a whopping 690%!  These statistics show just how strategic business coaching can help increase your business performance.

In addition to the breakthroughs you’ll make, new energy geared to achieving better results returns positive results. You’ll be able to grow your business to new heights previously out of reach.

Who could ask for anything better? 

Running and growing a business is a significant undertaking. You want to do it right. Is it beneficial to hire a coach, or simply a waste of valuable resources? Will a small business coach give you the push you need to succeed in starting and growing your business, or can you achieve success on your own?  Many entrepreneurs wonder if strategic business coaching is right for them. 

Ways Strategic Business Coaching Moves You Forward

International Coach Federation (ICF), a support network for professional coaches, states that 86 percent of companies who invested in business coaching earned back at least what they put in, if not more. (Click to Tweet) Additionally, 96 percent of those companies would hire a coach again. Through its research, ICF also found that working with a business coach increases productivity. 

Here are other ways business coaching benefits you:

• It keeps you on track. With regular, structured conferences, business coaching provides a source of accountability to help you stick to your goals.
• It offers an avenue for sound advice. Professionally trained coaches know the ins and out of the business world, and can use their expertise to guide you in the right direction.
• It produces attainable goals. One of the biggest mistakes many entrepreneurs make is not clearly defining their goals. A business coach helps you set short and long-term goals, and create a plan that is manageable and effective.

What Happens Without Business Coaching

Starting and growing a business is not impossible without the assistance of a strategic coach, but it is certainly more difficult to grow it alone. Too often we get stuck in our own heads and end up going around in circles, never achieving our ultimate goal. Ugh! While this can be discouraging, all it takes to stop spinning is a little outside perspective.

Someone who is not as emotionally invested in your business venture can often see your business with greater objectivity. It’s good to have a head in the game who can tell you – from an unbiased point of view – how your target audience will respond to your marketing strategies.  

Certainly success is achievable without the guidance of a coach. There’s a great deal to be said for hard work, dedication, and dreams. You’ll reach your goals, so don’t give up.

Just keep in mind that working with a business coach can get you there more quickly – and with much less stress.