5 Reasons Why An Entrepreneur Needs a Coach
Coaching has become more mainstream in recent years, and so has the number of coaches and their impact on the world. According to a 2012 International Coach Federation global study, the industry’s largest trade association, “There is an estimated 41,300 active professional coaches worldwide who generated nearly $2 billion in annual revenue. In North America, about 14,060 coaches earned some $707 million.”
Due to the coaching boom, coaches have become a dime a dozen. The key is finding a great coach who is in alignment with your needs.
Asking the Right Questions
When you set out to pick a coach, here is an example of some important questions a good coach should ask you as noted in Entrepreneur Magazine:
What do you really want?
What’s most important to you?
Why are you working so hard?
When are you going to celebrate your success and how?
What kind of legacy do you plan to leave?
What kind of impact do you want to make on the world?
Sandra always had a coach, even when she started eWomenNetwork 16 years ago and barely had 2 nickels to rub together. She now attends masterminds through invitation-only with people like Jack Canfield of the Chicken Soup series fame.
I sat down with Sandra and asked her why entrepreneurs need a coach to be successful...
1. Why does an entrepreneur need a coach?
No one makes it alone. There’s too much work, too much overwhelm and too much emotional to think through all decisions and opportunities. Your coach is your unbiased party who only has your best interest in mind. In addition to guiding you to address business needs, a good coach will help you look at your own process and help you reflect on the personal and leadership lessons you are learning as you do the work.
2. How do we know which coach is a good match for me?
My personal opinion is that you need to do your homework. Does s/he have a coach? I hope so! How can you do for others what you are not doing for yourself? Have they made the kind of investment in a coaching program that they are asking you to make? Have you checked references? Have they attained the level of success you aspire to attain? Do they have proven expertise in their own business that you are relying on them to help you achieve? How do I know when I need a coach?
3. How do I know when I need a coach?
Coaching, in my opinion, is that thing you invest in that pays the best interest. Some people wait until they have a problem or need. I, on the other hand, believe in preventive coaching. Some of my greatest outcomes is when nothing needs to be fixed, addressed or solved. It’s when I can be in “creation” mode and spend important time re-imaging or innovating my business or life in more fun or profitable ways.
4. As an entrepreneur, do I look for a particular coach with a certain expertise just as we might look for a medical specialist?
Ideally you should look for someone who has success in multiple areas that you value and want success in. For example, business success, partner/spouse success, child rearing success, guy/girlfriend success, and self-care success to name a few. Success means different things to different people, therefore different blueprints are required. In my opinion, if you have small children at home or you are caring for an aging and ill parent, or you work with your spouse, you should consider these factors in order to choose a coach who aligns best with your needs and values.
5. What is the “secret sauce” to your SOAR program that makes it unique?
First of all, it’s small and intimate. And, we “Begin with the end in mind” (As Steven Covey so aptly said). It launches with a 3-day Business Review & Strategy Session so that we can evaluate your current business model and make sure it’s scalable to achieve your big dream. We revise accordingly and then use everything you learn in the program and apply it to your grand vision.
Author, Phyllis Smith
Content Manager, eWomenNetwork