It’s hard to know exactly how to become a successful business coach.
At UK Growth Coach, we pride ourselves on guiding and producing a professional, knowledgeable, successful and happy group trained to be franchise business coaches that SMEs highly value.
To give perspective, we need to look at the failure rate of business coaches and how this can be avoided with the proper support and company behind you every step of the way.
Success for a business coach depends on various things, including the coach’s background, knowledge, communication abilities, and ability to match their coaching approach to the client’s goals.
What makes a business coach fail?
First, look at red flags in a heavily populated business coaching industry. Of course, everyone is reluctant to criticise a fellow member of the profession, but every seasoned coach has witnessed their fair share of “bad” coaching.
Not speaking the necessary truth
Professionalism, partnership, knowledge, and equality should be core values. Unfortunately, some coaches extol these fundamental principles to their clients but fail to live by them.
Therefore, as a measurement of success, a coach for a business should provide examples of how they exhibit these qualities as part of the initial contact with a potential client.
A coach who only cares about making the client happy is a disaster, as people will seek coaching when their current business approach is not working; they are there to guide and advise. It is crucial to be truthful and offer valuable advice, not to make new friends. Objectivity and accountability are essential.
Not holding business owners to account for performance
A business coach cannot foresee the future; anyone who states you will accomplish “this” or reach “that” is dishonest. Instead, they should help a business see its strengths and weaknesses.
The relationship between coach and business will be damaged and not last with wild claims and overpromising; it takes careful planning, not frivolous ideas, empty promises and underdelivering.
Not providing a well-rounded education to clients
Companies and individuals using a business coach seek industry knowledge supporting the coaching objectives. Therefore, it’s critical to think of being in the role of a coach as a confidant and mentor who has either successfully traversed similar minefields or has expertise working alongside businesses and people in similar circumstances.
Looking at what is essential to be a good business coach
Being a successful business coach requires a combination of key skills and qualities.
Firstly, having significant experience in the business world and an understanding of how businesses operate, knowing different elements such as finance, marketing, HR, and general management, is crucial to becoming a successful business coach.
Personality-wise, there is a great need to be able to communicate with clients effectively and to be able to listen actively, using open questions to gain insight into the business and person whom you are coaching.
In addition, you will need to remain motivated to keep your clients focused on the goals that you are setting that will make a positive impact on their business.
By listening effectively, there will be a better understanding of the client’s challenges and unique perspectives, making it easier to analyse any potentially complex situations and challenges and identify areas for improvement or create practical solutions.
As a business coach, you must be committed to continuous learning and development, keeping a keen eye on business trends and global news that can affect business. Always maintaining integrity, transparency and being highly ethical to each client’s best interests.
Why become a small business coach?
Small business owners require our assistance. They support our communities and economy by offering services and jobs, but the failure rates for SMEs are exceedingly high; according to some estimations, 20% of businesses fail in their first year, and around 60% will go bust within their first three years.
These statistics do not reflect the personal, emotional, and monetary costs of failure on business owners, their families, and communities, which can be disastrous.
At UK Growth Coach, we are fiercely committed to altering this narrative and fostering more commercial success for each business, offering professional, knowledgeable coaching of the highest calibre.
Meet UK Growth Coach
UK Growth Coach is a professional business coaching franchise.
The team includes a network of coaches who provide business advisory and development services to the owners of SME companies across the UK.
We have a unique model and framework based on years of coaching experience with various industries for SMEs.
All of the coaches have worked with businesses at all stages of development. Something that sets us apart is that all of our coaches are, or previously have been, business owners and coaches.
So rather than risking becoming part of the statistics on the failure rate of business coaches, choose a framework that is proven to succeed, is nimble, effective and supports you on your journey as a business coach.