There’s a lingering feeling.
It’s stopping you from feeling like things are going well.
Someone’s mentioned coaching to you. And you’re interested.
But what kind of things can a coach help you with?
Will they get to the root of this stuckness?
The answer is yes. Over 60% of founders swear by coaches.
And in this article, you’ll discover the different services that business coaches for entrepreneurs offer to find the steady growth — in business and in life — that you need.
Let’s dive in.
Why Should Entrepreneurs Consider Getting a Coach?
As a founder, it’s difficult to find someone that understands the consistent stresses and pressures of the position.
You’re expected to make sacrifices. It’s considered common practice. So, you don’t talk about them.
In fact, in a recent study by Michael A Freeman, 73% of entrepreneurs say they struggle with mental health issues.
A coach specifically for entrepreneurs and founders understands the experience. And can help you to implement practices that help you to have a happier, more simple life.
- Offer space and time to work on the changes that you want to make
- Give you support and guidance on your founder journey
- Can be an advisor for you and your business
It’s a unique opportunity to take a step back from your business and ask what you want, without feeling the need to make sacrifices to do so.
What Do Business Coaches for Entrepreneurs Offer?
Not sure what you want out of coaching? Or what’s available?
Top business coaches for entrepreneurs can cover any one — or several — of the following areas that prove to be common problems…
When you’re in the business, it’s hard to see mistakes.
A strategy coach looks at every part of your business plan and execution —, from your problem-solving approaches to leadership skills and prioritisation — to see what is hurting your business.
With this perspective, they can help you to identify blind spots and learn new skills needed to get your business to the next level.
Cashflow, balance sheet, ratios etc aren’t some arcane world only understood by accountants. They’re your business laid out in black and white.
A financial coach can help you to understand what your management accounts are saying and make adjustments, so they tell the story of your business better.
From there, they can help you to set a realistic financial goal and offer tips and tricks in money management to help you build stable foundation to build on and grow with.
When the pressure starts building up, the first thing to go is your personal life.
Pouring every minute you have into your business might feel like a go-to solution — but the reality is, it’s not sustainable.
A personal coach will show you that having time yourself can actually benefit your business. You have more energy, and therefore, can give more to your business too.
While many people go for work-life balance — in my experience, it’s just not possible when you’re a founder. You need flexibility.
So I aim for a work-life integration, that allows time for you to show up in your personal life, and adapt your working day to fit around these things, while still feeling productive.
Founders love a challenge. But they rarely get one from someone else.
With so little peer discussion or advice, being a founder is super isolating. It’s one of the main reasons over 73% of founders are lonely.
Having the chance to meet peers as part of coaching is a remedy.
Peer group coaching is a select group of like-minded, non-competitive founders led by a coach.
It’s a scheduled, organised space for founders to exchange ideas, and offer communal support that you otherwise would not have.
When you feel stuck, more often than not, you don’t know why. That’s the whole problem.
Tailored 1-on-1 coaching allows you a decided time and space to work it out. And create a goal, and course of action based on what comes up.
It’s an opportunity to meet with someone who is purely there to listen to you, and offer suggestions where necessary. Without a need of their own, or a want from you.
For many founders, this is rare.
What is the ROI of Coaching Services?
The best business coaches for entrepreneurs that are worth your time and effort… come at a cost.
But what do you get in return?
Working with a coach — that’s good —, has an average ROI of 5.7x. You’ll notice the difference in the performance of your business and in your life, almost instantly.
Simplified Business and Life
By reducing and optimising your day, you’ll have more time than ever before… yet you still seem to be productive.
With less stress from task overload, you have more room to think clearly and make better decisions.
A coach can help to simplify your life by
- Helping you to set clear goals
- Introducing more delegation to your business
- Point out areas where you can reduce control slowly and confidently
As a founder, every moment of the day counts, by simplifying, you can ensure that they are focused on tasks that make an impact.
Impact on the Personal Aspects
To give the best to your business, you have to be at your best.
You can’t pour from an empty cup.
A coach can work with you to re-integrate aspects of your personal life — time with friends, exercise, hobbies — without burning out trying to fit it all in.
They can help you with this by
- Offering practical advice incorporating positive habits into your routine
- Identifying clear priorities and ways to stick by them
- Slowing down to speed up
When you start making positive changes, you naturally have more energy which trickles into all aspects of your life.
Still Don’t Know What You Need?
The first step towards working with business coaches for entrepreneurs is finding out where you’re at in your life right now.
Take the 2-minute founder fitness test to quickly highlight what areas of your life need to be focused on in coaching and then we’ll go from there.