Many people start a business because they are good at what they do. Whether that be as a lawyer, mechanic, plumber or caterer. The fact is, just because you're good at it doesn't make you a good business owner, but that's okay! It's why we're here today to talk not only about business coaching for lawyers but also how any business, regardless of size, can benefit from the sound, objective opinion of a business coach.
Who Is Business Coaching For?
When you run your own business there can be an overwhelming about of work required in different areas. Ranging from payroll and tax to employee management and marketing. Not forgetting producing a high quality service/ product at a competitive price point. It is for this reason that we can say without a doubt, all business' need a team of management personnel to oversee the different areas that your business operates in.
But what happens when you're a small to medium business that can't afford 6 high paying full time management positions? This is where a business coach comes in. With the ability to stay impartial, make rational unbiased decisions to ensure you stay on-time, in budget and true to your ethics.
We understand if this small amount of information is enough to persuade you to seriously look into getting a business coach to save your business however we will be doing a complete review into every aspect of the 21st century business coach.
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What Is Business Coaching?
A business coach is a person/ support team that offers the owner of a business assistance in the running of their team, marketing material, accounts and goals. Business coaching is the practice of this line of work. This is achieved through actions such as managing employees time/ efficiency, overheads, expenses, cost benefit analysis and contracts.
It is because of actions like these, hiring a business coach can quickly start to save your business money in the immediate short run, build reputable business practices in reasonable time and make your business work for you in the long term.
A good business coach should sell you on the understand that you shouldn't need their services forever. In the perfect world you should only need one for 3-5 years in your business and all the ground work should be completed with a juicy profit margin achieved.
Where Can I Get A Business Coach?
The great thing about the internet is its ability to streamline the use of a variety of new business models and gives you access to talent from all around the globe. Regardless of where you are in the world you can use the information provided here to help find the best coach for you.
Business Coaching In Perth
Great News! With offices based in Perth and the ability to do in business calls, TheBusinessDoctor will tell you everything you need to know about efficiently running your business and using employees to better leverage your time as an owner to get you off the floor and delegate the jobs at hand.
Business Coaching In Sydney
With a growing population of over 4.6 million people it's easy to find it hard to compete against such a diverse competition. The key is to find your target market (Depending on the area) and focus that as much as you can, then you will have the ability to grow. If you want to find out more about marketing specifically in Sydney have a look at our complete Lawyers Tool Box.
Business Coaching In Melbourne
With only 852 Km distance between Sydney and Melbourne, the lifestyle and people are drastically different. It's important to have a coach that understands the differences between these groups of people. This has been proven that marketing and sales techniques that have worked in Sydney will not necessarily work everywhere else in Australia.
Business Coaches Create Accountability
Being your own boss offers a great sense of self accomplishment and pride, however, it is very hard to stay motivated and push any blame onto others. This is where a business coach comes in and provides accountability that sticks. Prompting the nearing of deadlines and urgency work to be completed, they help keep you focused on the end result and remind you of what's important. Remember, they do not work for you in your business as an employee but keep you motivated towards your commitments and are a sounding board when you are unable to stay unbiased in a situation.
Online Business Coach
When working on your business, sometimes working over 80 hours a week, it can be hard to find time during the work week to physically see someone in person to talk about your business. Or maybe you're in a location that doesn't offer a premium business coaching service. This is where an online business coach has the ability to really help your business.
There's nothing we can really say that would convince you to engage in a business coach as all you need to do to understand if one is right for your business is to call one up. No seriously, we've seen it first hand how quickly people come to the realization that they need professional help in running a successful business. Our advice would be think of a few questions you might want to ask a business coach during your first interaction about your business that you don't know how to solve and let them explain how they can help.
Business Coach Services
So you want to know everything a business coach is able to help your business with? We get that, here is a list of services your business coach should be offering:
- Market Research
- Time Management
- Employee Termination
- Cost benefit analysis
- Marketing Techniques
- Sale Funnels
- Target Market Procurement
- Quality Control
- Hiring Process
- Business Management Documents
- Legal Recommendations
- Overheads management
- Upgrade/ Software recommendations
- Taxation analysis
While this does seem like a long list of services, and it is, you need to remember these will all take time to implement. You need to give it time, no one likes change and hiring a business coach can throw a spanner in the works for your employees that aren't pulling their weight.
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6 Qualities You Need In Your Business Coach
- Attitude: We have spoken about a coaches ability to create accountability, imagine one that didn't provide the drive or motivation needed to push you or your team further. Find one with this quality and you will be on your way to finding your next coach.
- Experience: While this isn't the be-all and end-all when it comes to quality coaching techniques. It certainly does help when it comes to knowing the who, what, when and why of business.
- Connections: As the saying goes, its who you know not what you know. This is so true when it comes to business as the ability to pull strings and make things happen quickly is essential in business. Situations change very fast and you need someone who can act on those changes.
- Expectations: By now you can tell that a business coach doesn't work for you on the ground in your business. They should be asking what you're capable of and creating accountability based off what they expect from you. They should be pushing you for 100% of what you're capable of doing.
- Transparency: A good coach should be upfront about everything they are doing with and for your business. You're paying good money for a service that literally can determine if your business thrives or fails, you better be kept updated with whats going on.
- Accountability: We can't stress this enough. Accountability is the key element to a successful business coach. It's easy to loose track of your goal and time schedule, a coach should be the sounding board that keeps you and your team in check.
How Much Does A Business Coach Cost?
We regret to inform some of you that just like a lawyer or accountant, a business coach offers a premium service with skills that have taken years to master so it comes with a price to match. Usually you wouldn't be charged per hour used as a business coach doesn't come into your business for a set amount of time, wave their wand and it's all fixed. Rather, you will be billed in a monthly cycle.
This will usually cost (For a legitimate premium service) around $1,500 - $5,000 Per Month. While this does seem like a lot, when used correctly, a business can quickly make these costs back multiple times over while also saving time and preparing for the future.
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Anything Else To Add?
In conclusion, to everything said above, every business should seriously consider the cost benefit analysis when it comes to hiring professional help. Yes it can be costly at first but the potential time and money it has the ability to save nearly always outweighs the cost.
Knowing when to bite the bullet can be hard so take the first step today by reaching out to a professional business coach and put yourself on the track to success.