So you’ve committed to business coaching – congratulations! With a competent business coach on your side, your business (and life) are sure to start turning around.
Unfortunately, many business owners stumble when it comes to business coaching.
As a business coach and business owner coach, I’ve worked with many clients in different lines of business. I’ve helped them climb out of whatever holes they’ve found themselves in and reach a point where they’re well on their way to living their ideal lifestyle.
And over the years, I’ve noticed that many of my clients dug themselves into those holes. In many cases, it’s the result of making one of these common mistakes with a previous business coach, leaving me to put things back together.
Do you feel like your current business coach isn’t working out? If any of these resonate with you, the answer might very well be “yes!”
Mistake: you choose a coach you don’t see eye-to-eye with
As a business coach, the very first question I ask myself is “do I like you?”
This one’s a biggie… and it’s a question I encourage you to ask yourself at the beginning of the coaching relationship.
Why? It’s simple: the coaching relationship is built on personal connection. You need to be able to trust me. You need to have full confidence in my advice and plans. Most importantly, you need to like me enough to accept my help.
I’ll use myself as an example: I make no secret of my no-nonsense personality and tough-love approach. I’ve gotten great outcomes for many business owners using it… but it’s not for everyone.
If you feel like that type of approach isn’t one that you’ll respond well to, then our coaching relationship isn’t likely to yield much in the way of results!
And that brings me back to my original point. While not liking your current business coach isn’t necessarily a huge red flag, it does make getting tangible results from your coaching relationship that much harder.
After all, if you can’t stand your coach, what is there to stop you from simply not following through on their suggestions?
Mistake: you don’t speak up
I think I speak on behalf of all business coaches (the good ones, at least) when I say that ultimately, our goal is to help YOU take your business to new levels.
Of course, that means you need to be vocal about what your goals are!
Your business coach has a wealth of experience and ideas to help you get there. But they’re only as good as what you put into your relationship – if you don’t give your business coach anything to work with, they’re not going to be able to help!
A common mistake many business owners make is being passive.
The coaching relationship is a collaborative process – it takes two to tango, so to speak. And that means you need to be an active participant in the planning, goal-setting and strategising.
With a business owner coach specifically, this is especially important. My goal is to help you achieve your goals.
That means you need to be open with what you want from your life, your dream lifestyle and what your vision for yourself is… otherwise, we won’t get anywhere!
Mistake: you choose a coach who only talks about $$$
In my experience, many business coaches focus solely on the money side of your business. Their plans, goals, and ideas all revolve around the dollar, and how many of them are in your bank account.
We’re not denying the importance of money! But here’s the thing, though: money isn’t the be-all end-all.
And unfortunately, many business coaches seem to have missed the memo.
Many business coaches focus solely on the money side of your business.
What they’ll do is sell their services as a way of reaching a luxurious lifestyle where you always have the latest overpriced iPhone, luxury car or high-end clothing brands.
At the risk of sounding too “life coach-y”, it’s all just stuff – it won’t make you happy in the long-run. Buying a new $1500 smartphone might feel great initially, but it’ll become obsolete (and very quickly, at that), or a new model will come out.
And then you’re just back at square one again!
A business coach can help you bring more money into your business. But if that’s all they focus on, you’re not getting the most you could from that coach!
As a business owner coach, I like to distinguish myself from other business coaches by focusing solely on turning you into a better business owner and helping you achieve your life goals.
Money comes into the equation. But really, it’s all about time, mindset and planning in my opinion!
While we’re on the topic of money…
Mistake: you fall for get-rich-quick schemes
Everyone wants money. It’s a powerful motivator – and many unscrupulous business coaches know it!
Any business coach that peddles the “secrets to instant wealth” or anything like that is probably trying to sell you snake oil.
There is no formula for getting rich. Talk to any millionaire and they’ll chalk their success down to a combination of luck, running into the right opportunities at the right time and sensible decision-making.
And in most cases, it’s not a quick process either. Look at Bill Gates, Jack Ma or Gina Rinehart – each of them took decades to get to where they are today.
There are very, very few instances where someone has gone from regular Joe to billionaire overnight. And in those handful of exceptions, there’s always a chance of meeting a revolutionary idea or other incredible strokes of luck behind it all.
Needless to say, it’s highly unlikely that your business coach has one of those up their sleeve!
Why you shouldn’t cheap out on Melbourne business coaching
Did you know that one-in-four Aussies is skipping their lunch break just to get their work done in time?
According to the same study, cost-cutting is one of the driving factors behind this spike in skipped lunches.
I understand the importance of bringing down expenses – that’s where I got my start, after all – but there are some instances where you simply can’t cut corners without getting yourself into a sticky situation further down the line.
Excessive workload is one of them. Another? Business coaching.
One especially egregious trap many business owners fall into is using their friends and family as budget business coaches. Presumably, it’s a decision driven by money.
Yes, having that support network is important for your entrepreneurial journey – but unless your uncle is Warren Buffett, you shouldn’t be taking their advice as gospel.
Why? Because they:
- Don’t necessarily have the inside view of your business
- Mightn’t be qualified
- Won’t always be objective
- Won’t always be completely committed to leading you towards success
- Most importantly, they’re not business coaches!
So your current business coach isn’t working out for you…
Odds are, one (or multiple) of these common pitfalls is to blame.
Getting a business coach can be one of the best decisions you make for your business – but only if you do it right!
If these mistakes resonate with you on a personal level, you might be better off cutting your losses and shopping around for a new business coach.
And if you’re based in the Bayside region or looking for Melbourne business coaching, why not stop by for a bit of a chat?