3 Common Pitfalls Of Business Coaching and How to Avoid Them

Over 20% of businesses fail in the first year of operation, and many struggle to generate leads, define a brand voice and find success. You might have an entrepreneurial spirit and a great idea for a business, but without past experience, you’ll be learning as you go.

Hiring a business coach can propel you over the initial hardships of business by providing you with solid guidance from someone with experience. But coaching is not without its pitfalls. We’ll help you avoid them and decide whether a coach is right for you.

Do I Need a Business Coach?

Business failure is always a real risk - some of the world’s biggest brands no longer exist - and hiring a business coach can help improve your odds of success. For many companies, working with a coach is the secret ingredient to success.

Why?

Coaches are “partners,” and they will help you:

• Identify and reach your business goals
• Discover your core values, vision and brand voice
• Customise offerings to your unique needs
• Stay motivated and accountable
• Grow your business

Your coach should be someone who supports and guides you to success with proven systems and strategies.

If you think coaching may be a good option for your business, it’s time to consider whether it’s right for you.

Is Business Coaching Right for Me?

Coaching may not be right for you, or it may be an integral part of your success. Common reasons why you may need a business coach include:

It’s Time for a Change

If you’re unhappy with your results and want something more, a coach can help. Coaches can help you when you:

• Miss your goals
• Spend too much time working
• Can’t maintain margins or sales
• Are losing market share to competitors
• Need to hire new talent

If you know that change is necessary for your company to succeed, a business coach is a good option for you.

You Need to Fill in Skill Gaps

There are many signs your business needs help, but when your skills and knowledge are holding you back, a coach can help. Coaches can assist you with knowing how to hire the right employees to help you fill skill gaps, delegate tasks to existing team members and strategise to fill knowledge gaps.

Business owners can “do it all,” but when you’re just starting out, you’ll likely need to fill multiple roles at once, many of which you don’t have experience in.

Is Business Coaching Worth It?

Yes. If you find the right coach, they can put you on track to reaching your goals. Small business coaching gives you a strategic advantage in overcoming many of the problems that cause potential business successes to fail.

The Pros and Cons of Business Coaching

Coaching has its own advantages and disadvantages, and you’ll need to weigh the pros and cons for yourself to understand whether hiring a coach is a good option for you.

Pros

What are the pros of working with a coach?

Coaches Bring Expertise and Experience to the Table

Your coach is an expert who brings experience and expertise to the table that is only earned through years of success and failure. A coach can teach you how to be a leader, what to focus on in business, ways to expand and how to overcome some of your most significant pain points.

Coaches Provide Accountability, Support and Encouragement

A business coach can hold you accountable while providing much-needed support and encouragement. Knowing that you have to check in with someone and complete certain tasks will keep you on track. Their confidence in you and encouragement can help you realise your full potential as an entrepreneur.

Cons

Although there are many benefits to business coaching, there are also some downsides that should be considered.

Coaching Requires a Time Commitment

Coaching is an investment, both in terms of money and time. Yes, that investment can pay off over time, but some business owners simply do not have the room in their schedule to take coaching seriously. 

Typically, coaches meet with clients at least once a week, and more often than not, you’ll have homework that you’ll need to complete. Your coach may want to observe your work and how your employees operate. All of these things take time.

If you cannot dedicate adequate time to coaching, then you will be wasting your time.

Your Coach May Not Be the Best Personality Fit

You may start working with a coach and find that they are not a good personality fit. Compatibility issues may ultimately make it difficult to work with the coach, and as a result, you may not get the results you want. 

3 Common Business Coaching Problems and How to Avoid Them

Business coaching programs have many advantages, but some entrepreneurs fail to get the results they want because they run into one of these three common pitfalls:

1. Not Having Clearly Defined Goals and Needs

One of the most common pitfalls of business coaching is not having clearly defined goals and needs. 

• If you don’t know what you want to achieve with coaching, you won’t be able to measure your success, and your coach will struggle to provide effective guidance. 
• If you don’t have an understanding of your needs, you may hire the wrong coach.

To avoid this pitfall, take the time to define your goals and needs. While you’re at it, create a list of criteria to consider when hiring a coach so that you select the right person for the role. Having clearly defined objectives and needs will allow you to maximise the benefits of coaching and address problem areas that are stopping you from hitting your performance goals.

2. Relying Too Much on the Coach

A business coach can serve as a mentor and advisor. They can provide the tools and guidance you need to succeed, but it is up to you to take action and leverage the tools you’ve been given.

However, it is not uncommon for entrepreneurs to become too reliant on their coaches. They lose trust in their own gut and decision-making capabilities and, instead, rely on their coaches to navigate the ship. 

To avoid this pitfall, make sure that you have realistic expectations and understand that your coach is a guide. They cannot take action or make decisions for you. Be prepared to put in the work and never lose sight of the passion that drove you down this path in the first place. 

3. Not Being Open or Committed to Change

The aim of business coaching services is to help entrepreneurs grow and improve their businesses. Growth and improvement cannot happen without change. Yet many business owners are not open to feedback or committed to making changes that could help them reach their goals.

To avoid this pitfall, adopt the right mindset. Be open to change and constructive feedback. Be willing to make changes to your operations, processes or marketing to drive the results you want. If you enter this venture with an open mind, you will be far more likely to succeed and maximise the benefits coaching has to offer.

Business coaching is a big commitment and you need to know what to expect before you hire a coach. To discover whether business coaching is right for you, speak to an advisor today or check out our learning centre for more information about business coaching.