Frequently Asked Questions about Business Coaching
1. What is Business Coaching?
Just like great athletes who find success by following the lead of a coach with a winning game plan, more business owners and executives than ever before are turning to Business Coaching to help develop a winning game plan for their businesses. Why? First of all, it’s very difficult to be truly objective about yourself. A Business Coach can be objective for you, and can see the “forest for the trees.” Just like a sports coach will make you focus on the game and will make you run more laps than you feel like, a business coach will help you focus on your business goals and hold you accountable to do the work to achieve them.
A good coach will also tell it like it is and will give you pointers about the game and your competition. A great coach will listen and guide you to success. Your ActionCOACH will also be like your one person Board of Directors. They will help you when it comes to your marketing, your sales, your training and every other area of your business. Simply put, when you work with an ActionCOACH, they become your partner, your confidant, your mentor and most unreasonable and best friend. This is how your ActionCOACH helps you make your dreams come true.
2. How much does Business Coaching Cost?
Before you worry too much about how much it costs, just know that one of our coaches will spend a couple hours with you determining if your business is even coachable, meaning can your business get you a 3-7x return on a coaching investment. If it can’t, then it doesn’t make sense to even consider a program. If your business can generate this level of ROI, then your coaching is essentially free after the first 3-4 months.
Once we know that your business is coachable, our primary goal is that it doesn’t cost you anything, that it becomes an investment with an ROI as quickly as possible, typically within the first 3 months. As far as your investment, group programs range from $250-$600 per month and one-to-one Coaching ranges from $900 to $5,000 per month, which is based on company size, with the majority of programs falling between $1,750 to $3,500 per month. The only difference between the programs is how fast you go – the coaching is the same, just at a different pace. You and your coach will determine which type of program is the best fit to enroll in. All of our programs are month to month agreements, no long term contracts, and our one-to-one programs come with a 17 week Guarantee.
3. What do you know about my industry?
Depending on your industry that can range from a lot to a little, to nothing at all. The good news is that it doesn’t really matter, as 85-90% of growing a business is independent of the industry you are in. The fundamental are the fundamentals, and you the owner need to be the expert in your industry if deep expertise is required. One of the biggest advantages of working with an ActionCOACH is that we have a network of over 1000 coaches in 80+ countries to pull in as resources for industry-specific challenges if you and your coach can’t work through them together.
4. Will this mean more work?
Once you know the ActionCOACH definition of a business, you will never ask this question again. Our goal is to help you build a Profitable, Commercial Enterprise That Works …Without You. The last two words are the most important because, in the end, our goal is to have you no longer working IN the business, but, instead, working ON it. That means more time to spend doing what you want to do while the business serves you, instead of the other way around. Of course, when you set the plan with your ActionCOACH, it may seem a bit overwhelming at first, but no one ever said attaining your goals would be easy.
In the first few months, it will take some work to adjust to your new plans… but the further you work into the program, the less work you’ll actually have to do. And at the same time, your company will be more productive. Simply put, you’ll be working much smarter. You will be amazed at how focused you’ll be and how much you’ll get done.
5. How will I find the time?
Again, the first few months will be the toughest, not because of an extra amount of work, but because of how differently you’ll work. In fact, your ActionCOACH will show you how, on a day-to-day basis, to get more work done with much less effort. After the first few months you’ll find that you’re not working more, just working differently. Then, depending on your goals, from about month six onwards, you’ll start to see the results of all your work; and if you choose, you can start working less than ever before. Just remember, it’s about changing what you do with your time…NOT putting in more time.
6. What Results have other Business Owners and Leaders seen?
Don’t take our word for it…check out our Client Success page to hear directly from our clients.
7. Will you tell me how to run my business?
No. Coaching is not about telling you how to run your business, it is about helping you get better results; however, you choose to define results for you and your business. We help owners and their teams be more effective implementing their strategies and plans, and make sure you are focusing on all 6 foundational areas of the business. Your coach will bring both new and old ideas, and will brainstorm with you to choose the most appropriate ones and identify efficient ways to implement strategies you may have always known about. We find that most clients fundamentally know what they should be doing, they just don’t do it consistently enough or with enough focus to get results. Your coach will help you identify and overcome the barriers and obstacles to the results you seek, to achieve success the way you define it.
8. What types of things will I be coached on?
There are six Foundational areas of business that you and your coach will evaluate for opportunities: Sales, Marketing, Operations, Finance, Products/Services and Team. In addition, there will likely be work on you, the business owner, as your business can only be as big/great as its leadership. Additional topics that will be covered over time as required include Self Management, Prioritization, Decision Making, Leadership, Management, Business/Strategic Planning, and Transition Planning.
9. Should my business partner or key employee(s) be included in the coaching?
If your business partner and/or key employee(s) are vital to the successful growth and results of your business, then we highly recommend they are involved. When selecting the best program to enroll in, you and your coach can discuss the level of involvement of other stakeholders. Programs are built by default to accommodate 2 business leaders per business, and can be tailored to work for as many key team members as necessary to achieve the results you desire.
10. What is the difference between a Business Coach and a Life Coach?
Your Business Coach will help you to build your business so that it supports the life you desire and deserve. We will help you to get your business to a place where it works without you, allowing you time for other pursuits. A life coach typically can help you to realize what your passions are, to identify your talents, and how to best use them.
11. What is the difference between a Business Coach and a Consultant?
A business consultant is paid to work on a specific problem in your business. They are focused on their specific area of expertise and are hired to complete a project.
A business coach helps you work harder, smarter, and achieve your goals faster than you would on your own. They look at the bigger picture of what you are trying to achieve with your business, help you strategize, and hold you accountable to take the steps needed to achieve your goals.
Consultants do the work for you, so if you need the work done again you have to hire them again. Their value is in their expertise which they do not transfer.
Coaches teach their clients and hold their clients accountable to do the work. Their value is in transferring knowledge and support.
Get Your Free Coaching Session Today
The best way to experience how ActionCOACH Southern Indiana can help you build a business that gives you the life you want is to schedule a complimentary, no-obligation coaching session with one of our business advisors. Put our team to the test. You won’t be disappointed.