Episode Overview – Should You Hire a Business Coach?
Being a successful entrepreneur is challenging. This often leads entrepreneurs to seek out options to help them be more successful. One such option is to hire a business coach. This can be a great option, or it could be a complete waste of time and money.
So on today’s podcast episode, we walk to take a deep dive into business coaching; what is it, what causes people to not be successful with it and what steps can you take to help increase your chances of success if you choose to hire a coach.
We know how difficult it can be to find and hire a great business coach, so we put together a MASSIVE guide to answer all of the questions that you have about hiring a business coach and making sure that you get the most out of your investment.
Episode Key Points
- It is a major challenge to try and start a business on your own without support from others, causing many mistakes that could be avoided
- One of such mistakes was when we got charged with illegal gambling
- There are a lot of “coaches” out there, but that does that really mean?
- The differences between roles such as accountability partners, trainers, coaches, consultants and mentors
- Some common combinations of the above roles that tend to work well together
- Some of the top reasons that coaching may fail or be less successful than you hope
- What the “rule of 3 people” is and why we recommend it
- What is the right time period for hiring a coach?
- To be successful, you ultimately need to commit and taking action.
Episode Key Timestamps
- 00:58 – Show Introduction & Background
- 04:06 – What is a Business Coach?
- 04:43 – Is everyone that helps you with your business a coach?
- 05:24 – What are the different roles that get commonly lumped under “coaches”?
- 00:00 – What is an accountability partner?
- 00:00 – What is a mastermind group?
- 09:19 – What is a practitioner?
- 10:53 – What is a trainer?
- 11:35 – What is a coach?
- 12:41 – What is a consultant?
- 13:18 – Do you need all of the roles listed above?
- 14:22 – Combination of Accountability Partner & Mastermind Group
- 15:52 – Combination of Practitioner & Consultant
- 17:10 – Combination of Coach & Consultant
- 18:08 – Reasons that coaching fails
- 21:58 – Strategies to maximize your success with coaching
- 29:38 – Tip of the week
Links and Resources Mentioned in the Episode
- The Free Serial Startups Community (A great place to find an accountability partner)
- How to Hire a Great Business Coach (Informative blog post + graphic mentioned in the podcast)
- Why Haven’t You Started Your Business Yet? (Podcast Episode Show 7)
- How We Show Transparency (Check out our About page where we show each of our businesses)
- Book a Free Discovery Call With Us (Let’s see if we are a good fit to help you meet your goals)