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.

BONUS!

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.

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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

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