Business Coaching: An Honest Opinion

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If you have ever wondered what business coaching is, if it is worth spending money on, and what the benefits of it are, here is an honest and unbiased opinion.

“Honesty is a rare commodity” – Garrison Keillor

There is very little that modern day society agrees upon, and that’s an understatement. With such a vast amount of information and knowledge at our very fingertips, every single minute of every single day, there are still some things in life that we still cannot find a direct answer for.

Everyone is entitled to their own opinion, but even research studies can be found to prove contradictory evidence of specific theories.

Is fat good or bad for you? Does therapy work? Are vaccinations safe? Can we trust the media? Guaranteed if you do research on any of these controversial topics, you can find polar opposite views, opinions, and facts proving that one side of the spectrum is right, and the other is very wrong.

Business coaching should not be so controversial.

Yet, when you search it online you find opposing views from hundreds of different sources. Researching whether or not to hire a business coach should have straightforward answer.

According to a study done by the ICF in 2016, there are 53,300 professional coaches worldwide. This industry is speculated to grow by 6.7% every year until 2022, reaching a market value of $1.34 billion.  

If you are a business owner who is struggling and looking for an answer or any kind of help to get your business back on track, you should not have to dig through a mountain of opposing articles claiming that “Hiring a Business Coach is the Best Idea Ever” and “Why Hiring a Business Coach is a Waste of Money”.

You are just trying to find the truth in order to give service to something that you have worked very hard for: your business.

I decided to do the digging for you, so that you can get an honest, unbiased opinion from an outsider’s perspective.

This is what I found:

A majority of the disagreement on business coaching is related to the definition of what a business coach does. It is often confused with business consulting. This is where people grow upset, because they expect a coach to do everything a consultant does, and more.

In order to understand coaching, you must first understand consulting. It is similar to coaching in that consultants care greatly about the business owner’s own personal hopes and dreams and will listen to their stories, so some sort of emotional support is involved. They mainly focus on organizational performance and provide a quantitative analysis of problems within the company. They then are paid to provide actionable steps that the company can take to get back on track.

Coaching differs from consulting in that they foster the individual performance in the business complex. This includes addressing and assisting with issues in their work life and their at-home life. Coaches help by dealing with the emotional blocks or barriers that can be affecting their business. By aiding the business owner in dealing with emotional issues and setting goals for the future, they help them determine their own path in their work and in life.

Coaching has been compared to therapy, because psychology is involved in coaching methods. This is another reason why it has been looked down upon, because some believe that coaches are “wannabe” therapists that aren’t able to practice therapy.

However, coaching does not focus on treatment from a medical perspective and coaches cannot prescribe any kind of medication to help their clients. They provide emotional support in order to solve any internal problems that business owners may be facing that are hurting their company.

There have been many highly successful entrepreneurs and business people that have hired coaches and seen success because of it. For example, the former executive chairman of Google, Eric Schmidt, hired Bill Campbell to be his business coach. Schmidt saw success with Campbell once he lowered his walls and let Campbell in to help him with his emotional well-being.

As with anyone else you intend to hire for your business, you need to ensure that they are qualified. A big reason why some have not seen success with their business coach, is that the person they choose has no real business experience, other than building their own coaching business.

You want to make sure that your coach has real world experience working for companies, building them from the ground up, or other kinds of experience along those lines. Merely hiring someone who is a good talker and who focuses on just the emotional aspect of coaching will not help build your business or help you attain your wildest business goals.

Use scrutiny while looking for prospective coaches, and go with who feels like a good fit for you.