Frequently Asked Questions About Coaching

Frequently Asked Questions about business coaching;

A business coach can work with you to implement the FORMIDABLE Business formula. Many business operators are wary of engaging a coach because they are uncertain of the role a coach will play in their business.  Listed below are the responses to a number of frequently asked questions.

Why is the demand for business coaching growing so rapidly?

The growth in business coaching is occurring because of the excellent results being achieved by the clients of coaches.  Business operators are realising the benefits of having a business specialist working with them in their businesses. Rather than being a ‘lone ranger’ they are able to have an independent professional work with them.

Small business operators will often comment how much more difficult it is to be in business today. Whilst in many ways there are many more opportunities, there are also many more problems and most things are a lot more complicated. The coach is able to work with the small business operator and to help them with some of the immediate issues in the business and also to focus on longer term issues. Operators who use a coach often comment how liberating it is to have someone to work with them on the bigger issues in the business.

Isn't using a business coach expensive?

A business coach is an investment in the future of your business. Most business owners have invested sizeable amounts of money and time into building their businesses, not to mention the financial risk they may have taken to commence the business.

I am so busy at present, how could I fit in the time to have a coach?

It has been my experience that if you think you are too busy to make time for a coach – then you definitely need one! No individual can afford to have all of their time invested in the activity of their business. We all need to be able to step back and look at the bigger picture. Today we need to work smarter. We cannot afford to be caught up in the day-to-day activities of the business.

This applies equally to the managers of the business and their employees. You need the time to reflect and challenge the status quo. Can we do things better? What problems are we failing to solve? What opportunities are we not grasping? Investing a couple of hours per week in to being coached results in the client working much smarter and having many more free hours.

I am in a specialised industry, how could a business coach possibly help me?

The role of the coach is not to have, or to try to gain, the technical expertise of the client. With the variety of industries today and the complexities of products and technologies, it is impossible for a coach to gain this level of expertise. The role of the coach is to bring in a separate skill set – one that is focused on improving performance and empowering the client. The coach is a specialist in his or her own right. They have skills in business management and performance. Whilst each industry will have some unique features, quite often the core problems faced by businesses across vastly different industries are the same.

If I use a business coach aren't I admitting that I am failing in my work?

The best athletes in the world have coaches to improve their performances – why shouldn’t you? The role of the coach is to improve performance. Even the very high achievers use coaches to get even better. The use of a coach is not an admission of failure – it is a commitment to ensuring that your business or your career is managed to perform at the highest level. In today’s fast paced world we need to invest in resources that allow us to take advantages of the opportunities rather than just being reactive to change.

Will the business coach interfere and tell me what to do?

The small business belongs to the client and the client will always have the ultimate say in making the decisions affecting the business. The role of the coach is not to make the decisions for the client. The coach is a resource who is able to make a contribution through suggesting ideas and processes. The client will always make the ultimate decision.

What Issues does a Coach help the Client to Address?

1.   Lack of planning or goal setting

Many clients find their roles cause them to be reactive and to have little time for planning and goal setting. Their focus is on the immediate issues in the business that most often involve ‘putting out fires’ and reacting to the most urgent problems. Over time this leads to the client lacking an effective medium to long-term strategy for their business.

2.   Inability to achieve goals

Often the client may set goals that they are unable to achieve because of competing priorities. Having the goals to achieve is a different situation to having the processes in place to manage their achievement.

3.   Lack of KPI measurement and reporting

Whilst clients frequently have measurable targets to achieve, primarily being revenue and profit based, they often have not developed and implemented a broad set of Key Performance Indicators and actions to effectively manage the business towards its goals.

4.   Ineffective use of time

Frequently clients do not effectively use their time on value adding issues that generate high returns for the business. A primary time trap is being actively involved in administrative issues that should be delegated or outsourced.

5.   Inability to capitalise on opportunities

There are many opportunities and ideas that clients have to further build and develop their businesses. Unfortunately very few of these opportunities are acted upon because the client has not structured their business or their time to fully exploit these advantages.

6.   Ad hoc Communication with Clients and Employees

Communication with clients and staff for some clients can often be ad hoc and not part of a coordinated strategy. Employees also need to have regular two-way communication on the business’s KPIs and their own performance.

7.  Lack of defined processes/Ineffective use of resources

Frequently clients have not made the time, or had the experience, to review the existing work processes in order to identify more efficient or cost effective ways of providing their product or service. This review process also applies to the resources they use and the matching of staff to workload.

If you have been considering using a business coach then now is the time to act.  For a free consultation with no obligation simply e-mail Mark Laing on mark@formidable.com.au

The FORMIDABLE Business coaching materials are available through Fast Track Coaching.