'Should I hire a business coach?'
If your company is stalled, a coach could be the catalyst you need.
Darrin Lugash, Houston
I have a business in theory, but haven’t seen any action in it. I’m working full-time in my former trade while I wait for my business to take off. I'm not sure where to get help – when is it time to hire a business coach? What should I look for in a coach, and what should my expectations be of him or her?
By Lenora Chu, CNNMoney.com contributor
A business coach can be helpful when your company is in transition, you’re in financial trouble, or you’re facing a critical decision such as whether to add employees.
“When things are going steady you don’t typically need a coach,” says Vancouver, Wash.-based small business consultant Doug Williams.
Finding the right coach is important, especially since the marketplace is saturated with people advertising business coaching services. Start the hunt by creating a list of 10 or so prospects, suggests Rick Lugash, Southern California regional owner of the small business growth services company OneCoach. Some things to consider include how many current clients a coach has, any association membership or certifications, and verifiable success stories.
Make sure your prospects have proven track records in the specific area you need help with. For example, if you need help starting up a business, find a coach with a history of guiding successful startups.
Start by interviewing the top candidates on your list. Be sure to get the names of past clients, and contact them as references.
“You want to go through the same process to hire your business coach as you would use to hire the pediatrician to treat your children,” says Lugash.
And find someone who’s good at training and teaching. “You don’t want someone who will do the work for you,” Williams says.
Most coaches will charge from $150 to $500 an hour, says Williams, and a good one will grant you a complimentary initial consultation.
Don’t choose a coach based on price alone. Sometimes the inexpensive coaches are people who are “in between jobs,” says Williams. “They’re not going to help you.”
“Treat your coach as part of the startup investment,” Lugash recommends.
And although chemistry is important, don’t automatically eliminate a prospect because their style doesn’t match yours. Think had about why you're clashing.
“A good coach will take you out of your comfort zone into uncomfortable waters,” says Lugash. “That resistance might be the place you need to go.”
When you’re finally ready to sign on the dotted line, establish clear milestones by which to measure progress, such as “how many, and by when?” Lugash says. “Put them into the agreement.” Like a business owner, a coach has to deliver a clear payoff if they want their clients to keep coming back.
Give us your advice: Check out recent “Ask & Answer” questions.
From Jeremy Ulmer, Chicago, IL Good article! However, I disagree with the comment, “When things are going steady you don’t typically need a coach,” says Vancouver, Wash.-based small business consultant Doug Williams.
Tiger Woods has multiple coaches and he is already the best in the world? Why does he have all of those coaches? He has a sense he can achieve even greater results and more success. He proactively chooses to have the best possible support along the journey. That is also what coaching is all about.
Professional coaching can benefit individuals and organizations whether they are stuck in quicksand or already highly successful. I posted a link below on various articles that explain further the benefits of coaching and the impact on individuals and organizations that may be helpful.
Jeremy J. Ulmer
Sales & Business Coach
http://www.coachwithjeremy.com/
http://www.coachwithjeremy.com/blog/category/benefits-of-coaching
From Dr Bill Toth, Houston, TX The best coach is the one you find that's already done what you're seeking to do. The great majority of successful business owners are more than willing to share their knowledge.
and a great resource is your local score.org.
Dr Bill Toth
Success Coach
CreateYourFate.com
From Alicia Marie Fruin Austin Texas Read about coaching
http://austinbusinesscoach.wordpress.com/2009/05/
From Craig Hohnberger, Pickerington, OH Good for you, Darrin! Getting counsel from a good business coach should help you navigate the waters much more successfully than going it alone. Lots of good advice so far.
You will find some coaches are 'purist' coaches and bring excellent coaching to the table, but no solutions or answers, which they will draw out of you. Others are consultants who use the title coach becuase it is in vogue right now; they tend to bring their own answers and solutions to the party. Others blend the two a bit and may lean one way of the other.
In addition some coaches have no real training and simply hung a shingle out while others have gone through extensive training. Some are independent coaches with no teams or leverage, while others are part of larger organizations with the cumulative experience and additional tools that brings, however they may charge more.
Pick a coach based on personal (and company if from an organization)reputation and personal chemistry. Ensure it is someone who can ask you the tough questions that force you to think, someone that can be honest with you and genuinely cares about your success. And ideally a coach with a strong value proposition that will be bottom-line results oriented with you as well.
Good luck!
Craig Hohnberger
ActionCOACH Business Coaching
http://www.gobig.actioncoach.com
From Stacy L. Wallace You're in an excellent position seeking entry into a business field that is undeveloped. You have the wonderful task of defining the field, being an excellent prototype and gaining market share quickly. Hiring a business coach is an excellent thought, but make sure you take the necessary and legal precautions to safeguard your business. Don't look at the business coach as an all answering human guide to business success. Try to view the business coach as a productive critic or compliment to your process.
The best business coach is one that can help navigate you out of crisis; whether it is legal, financial, etc. You should think about hiring a business coach when you will be conducting strategic planning, seeking new direction, taking on an unfamiliar task, experiencing stagnant growth or simply trying to improve efficiency and effectiveness.
The best business consultants may actually come from unlikely sources. You have the option of gathering valuable information from focus group participants, research studies, competitors in your field, recent college graduates and field veterans. Theses sources provide fresh information equivalent to or comparable with that of a professional business coach at fractions of the cost. And don’t forget every member of your team has a valuable input into the business success.
If you decide that a professional business coach is the way you choose to go, try to get the most out of your consulting sessions:
Be prepared.
Conduct preliminary research.
Conduct a SWOT analysis.
Have questions ready.
Have an attentive ear.
Stacy L. Wallace
Freelance Marketing Consultant
http://stacylwallace.com
From Victor Cheng, San Francisco, CA Before you run off looking for coaches, step back for a minute and think about what problem you're trying to fix in your business.
Coaches can play different roles, but not all coaches can play any one role.
Here are some examples:
1) The Sounding Board Coach: Are you socially a bit isolate, don't have a board of directors, and are so close to your own situation you can't think logically?
If you generally know what to do in your business, but are way too emotionally involved, what you need is a sounding board. Someone to bounce ideas off and to challenge your thinking.
If this is your primary need, a lot of coaches can play the sounding board role. They don't need to know much about your business. They just need to know how to ask good questions.
You want the person who can spot an inconsistency between say your business plan and your life goals. Or a conflict between your marketing message and your hiring practices.
A sounding board coach is really a good listener, question ask-er, and skeptic–challenging you on your decisions, forcing you to think them through.
If you're not sure what to do next in your business – even if you had someone to bounce ideas off of – then you don't need a sounding board, you need a coach with expertise.
In general a sounding board type coach helps you make the best decision possible given your skills and expertise.
But what if your problems go beyond your skills and expertise? In that case you don't need a sounding board, you need someone with some expertise.
This is an entirely different kind of coach–and frankly one that is much harder to find.
There are three kinds of expertise coaches: a) "methodology based", b) "soft skills based" and c) "hard skills based"
2) The Methodology-Based Coach: This type of coach is usually an employee of a larger coaching company, or a local franchisee of a national coaching company. These individuals have a wide ranging background by are all working from the same "playbook" so to speak.
The national franchisor has provided a number of coaching templates. If customer has a declining sales problem, do step 1, step 2, step 3, etc… In this situation the range in caliber of talent is enormous. You might get someone good who knows what they're doing, you might get someone who has no expertise at all but can follow the recipe book.
When you are hiring a methodology-based coach you are principally buying into the methodology… not the coach. If the method is sound and the coach can follow it, then the value derived is from the standardized method not necessarily the individual themselves.
Think of this type of coach as a "study partner"… like in school when you were studying for your chemistry exam and your buddy had already read ahead a few chapters. Your study partner isn't an expert in chemistry, but is a bit better versed in the ideas presented by the author of the text book.
If you know the methology is what you need, this kind of coach can be helpful.
3) The "soft skills" coach is one that can be part of a bigger company, but is often an independent operator. The vast majority of business coaches operate in what I call the "soft" skills arena. This would include leadership skills, conflict resolution, people management, and communication skills (as opposed to the so called "hard" skills like finance, strategy, etc…).
These kinds of coaches are very popular amongst Fortune 500 companies. The CEO hires a "soft" skills coach to work with the company's top 50 executives — basically to help reduce the politics within the company. In a small business, if you know exactly what you need to do to make your business survive/grow, but are having difficulty working with your staff to get it done, a "soft skills" coach can be helpful.
If you get feedback from your employees that you're a "difficult" boss (e.g., you're a jerk, but they are too polite to say it to your face), you need a soft skills coach.
4) A "hard skills" coach is one that has expertise in the kind of decision or dilemna your business is facing. Is your cash flow in the tank and is a big account screwing you over on payment terms? A sounding board coach can't help you. A methodology-based coach can't help you if that particular scenario wasn't written up in his/her playbook. A soft skills coach can help you communicate the bad news to your team and solicit ideas, but can't give you the answer.
In this case you need a hard skills coach. Someone with a grasp of the specific problem you're facing and one that has ideally faced it and solved it successfully before.
A common problem in today's economy is one around company direction. How should one navigate one's company given all the chaos out there. This is fundamental a strategic question. But instead of using the MBA term of strategy, which everyone has heard of but nobody seems to really understand, I prefer using the term business direction/navigation.
Imagine you are out in the ocean, captain of your own ship. Suddenly a big economic storm comes and you're not sure what to do. Do you head to the North or to the South? Do you race ahead to beat the storm or get ready to hunker down? What is the timing of each of your moves?
A good "hard skills" coach that's particular well versed in strategy, ends up being the ship's navigator. He or she'll tell you to head North for 15 miles, then turn 16 degrees to the West for 26 miles, etc… Do this and you avoid the worst parts of the storm (economic or otherwise).
Putting it all in context.
In general the more routine the problems, the wider the variety of coaches that can be helpful. The more severe, unexpected, and the problem is of a "do or die" nature, there are fewer and fewer types of coaches who can help you.
Worst Case Scenario Example:
Imagine you're the captain of the Titanic. You see a big iceberg ahead. You ask your sounding board coach what you should do?
He'll ask you back what are the options? What are the pro's and con's? What's your gut say? What's the downside risk of each decision? What about the upside?
If you ask the methodology-based coach, she'll say the manual says the Titanic can plow through any size iceberg. You should not feel the need to change course.
If you ask the soft skills coach what to do, he'll say let's get the team together and ask them. Or I'm not sure what you should do, but I can help you do it faster and more efficiently. So if you decide you want to crash through the iceberg, I can help you motivate your engine room team to pick up the speed so we can do it faster.
The hard skills coach will do an analysis and tell you you're an idiot for taking the chance. Steer clear – there's no downside to doing so, but the downside of ramming through an iceberg using an unproven technology has a huge risk. The upside is you might save 3 minutes on your travel time over a 1 week trip.
In a worst case scenario type situation / problem, the hard skills coach is most valuable.
Once you have business direction set (and are sure it's right), the other types of coaches become useful. So if you've already decided to steer clear of the iceberg and have a morale issue with the crew, the soft skills coach is your answer and possibly the sounding board coach.
If you encounter a problem that you've never seen, but is actually quite common amongst other ships, a methodology based coach can be helpful for solving commonly occurring problems that you haven't the opportunity to encounter previously (but the more unusual the problem, the less likely such a coach can help…and in these cases can often be harmful).
So the answer to the reader's question of should I get a business coach depends first and foremost on what role you expect the coach to fulfill in your organization. So figure out the TYPE of coach you need first, then look for specific coaches to evaluate.
Victor Cheng
Host of More Profits TV
http://www.moreprofits.tv
From Yura, Charlotte NC Something else to consider with regard to coaches. Just like with every business or human interaction there are always going to be a large number of personalities to contend with. Coaching is no different, which is why any coach worth their salt will provide a free consultation. This not only serves you, the potential client as a way of testing them out, but also for the coach to determine from their expertise whether or not you will be a suitable candidate to coach. The road runs both ways on this. If the match is not good, many times coaches are well connected enough to refer you to someone who suits your needs better.
Additionally, these references to SME's, etc. is not what coaching is about. I am a SME on many fronts, however, I choose to coach as I enjoy reaching into all professions to help people. Retired executives and SMEs may also be outdated in methodologies and/or may not be offering you the detached and objective viewpoints that are required to make great change. You will find many SMEs are "consultants" not coaches.
But most importantly, the advice I would give people who are considering retaining a coach, understand that coaches are trained to NOT be attached to outcome. What this means, is that we are trained to actively listen to our clients and show them how to meet their goals with the tools that they bring to the table. If you want someone to do it for you, you hire a "consultant".
Consider this anytime you want an honest opinion from a friend, family member or co-worker. How many times have you felt that nagging feeling in your gut that they have an agenda attached to their responses? Or that no matter what idea you bounce off of them, you will never feel as though you have been fully heard, so you never get the direction you need.
If you have been in that place… well, then it is a coach that you need.
But first, step… get your free consultation and see how it fits you. The rest is up to you and your coach as to how you create the longer relationship.
**One note of warning though, this is not a traditional business relationship. Coaches also have ethical guidelines to follow, so do not be surprised if a coach is hesitant to send you off with their client list to pester. Many of my own clients due to their positions, etc. find great value in our coaching sessions, but do not neccesarily wish to share this with the world. It is after all a one-on-one relationship.
Just my perspective from the coach's seat.
Yura Clary
Senior Management Consultant / Coach
Clary Global Consulting
yura@claryglobalconsulting.com
From Zanetta Kelley, Houston, TX I agree, experience is a wonderful teacher. Check out their experience as a winner, not just a degree. Many times, degrees are a piece of paper used for resume purposed, that cannot compete with those who've been there, done that, and had the success. Proven success is unbeatable.
From Les Pauls Chicago IL Hiring a business or success coach is a viable way to achieve success and get your focus in the righ direction
From Scott Dailey, Denver, CO Darrin,
You're in the perfect position … employed FT yet able to start a new venture. My advice … use SCORE to help in the initial phases, but above all else … just DIG in. Figure out what value you bring to your potential customers by taking them to lunch, using LinkedIn to network, and then start marketing to a select group of potential customers. Score 1 win and you'll generate some cash to get the next one. Then you can start to refine your message.
Good luck.
From Gary, New Concord, Ohio I am sure there are many people who claim to be able to help a company in need of coaching but if it were me I would only be looking for someone who has succeeded and is not in financial trouble in their business. A coach is someone that has succeeded, not someone who simply has a degree in coaching after all the ability to apply knowledge is only learned through experience. I have seen many people with book knowledge fail in an actual business because they lack the business experience. Of course a coach with a track record of success and no actual business experience except coaching can indeed be a good alternative. Success breeds success!
From Michael Negron, Guilford, CT Just another thought about the jazz musician. She reminded me that Celine Dion's manager was someone who had no music background at all.
Good luck,
Michael Negrón
http://www.NegronConsulting.com
From Michael Negron, Guilford, CT I agree with Comment A about NOT needing to be an expert in the client's particular business. For example, one of more successful coaching engagements was for a 3-time Grammy nominated jazz musician who "ran" her own business – getting gigs, writing contracts, securing other musicians, travel, etc. She expressly wanted "new thinking" and creative ideas to jump start her business and her approach.
From Steve Borek, Syracuse, NY For the most part I agree with the article. A couple of differences of opinion follow.
When things are going steady you don't need a coach. I don't think you can make that blanket statement. Most of my clients are successful and they want to take their biz to the next level.
Hiring someone with expertise. I also disagree here. A certified coach is trained to listen and ask insightful questions without knowing. My best coaching conversations are with businesses I know nothing about.
Definitely go with someone that is certified and belongs to an established organization like the ICF.
Regards,
Steve Borek – Certified Business Coach
http://www.endgamebusiness.com
From Steve W, Boston MA I suggest that you contact your local branch of SCORE.. There are retired executives and subject matter experts that can help you further define your business model. Check out http://www.score.org.
I would agree with the fact that you need to do the proper amount of due diligence to insure that you are receiving the most for your investment. Anyone can claim to be a business coach. Ask for references, and cover your bases with a proper allocation of research prior to initializing a deal. Mutually agree to desired outcomes prior to making your final determination on which firm to select. Finding the right business consulting firm can be a daunting task, but with proper due diligence you can eliminate the vast majority of firms that will not provide you with the proper resource that you are requiring.
John Whelan
EVP – Founder
http://www.jpmwconsulting.com