Saturday, September 30, 2023

5 Myths About Business Coaching

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Shreya Christina
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Business coaching is definitely a bit mysterious until you’ve used it personally. Do business coaches just walk into your company and start solving the problems? There must be a reason why business coaches are employed by most Fortune 500 organizations.

“Of course the countless misconceptions about business coaching that people spread around don’t help either.” Says Jason Shiers, an expert Business Coach in Leeds. It’s time to expel some of them while also urging CEOs, executives, and small businesses to try business coaching.

Hundreds of affluent small businesses are currently doing it and benefiting immensely from around the world. so to make sure you don’t miss out on opportunities, here are five business coaching myths.

Myth 1: Coaching is only necessary when your business fails

It is a popular misconception among many people that business coaching should only be used as a last resort when your business fails. While some strive to save a sinking ship, many others already have successful businesses but seek coaching for growth.

This false belief that coaching is a sort of last resort has led many owners of established businesses to be discouraged from mentoring, thinking they have nothing to gain from it. However, business coaching isn’t just for failing businesses with overstretched owners.

A good company with the right insight and coaching has the potential to become a great company. The benefits of coaching are well known to successful executives and business owners. Even Bill Gates of Microsoft and Eric Schmidt of Google agree that working with a coach has benefits.

Myth 2: Coaching is expensive

Most people think that coaching will be more expensive than it actually is. Especially if you see it as an investment instead of an expense. There are many choices when it comes to business coaching, including one-on-one, group programs, and cohorts, all of which have different price tags.

If you want to improve yourself, you can easily find a program that fits your spending plan.

By investing in coaching today, you can achieve your financial, professional and personal goals faster. The fastest way to develop yourself, overcome limiting beliefs, change the story you tell yourself and ultimately get where you want to go is through coaching.

Myth 3: Coaching is choosing the easy way

A lot of people have this misconception that all your problems will be solved once you find a business coach. This kind of mindset is not conducive to growth and learning. The coach can only accompany you during your journey. To get to the destination, you have to put in 100% of your own hard work and effort.

You need to learn how to do things yourself if you want to make long-lasting and beneficial changes in your business. A coach cannot offer you all the solutions.

This hinders your growth and makes you dependent on the coach for future problems. Coaches simply give you tools you may never have imagined before to solve problems and take your business to the next level.

Myth 4: The coach must have a successful business to be credible

You might think that if the coach coaches a Fortune 500 company, they should own one too.

But that doesn’t always have to be the case. While many coaches have successfully built their own businesses and now want to share what they’ve learned, many others have other aspirations in life that they excel at and have developed an eye for figuring out what tools and training a business needs to to make progress.

You probably know famous singers like Adele or Ariana Grande, but you probably don’t know the names of their vocal coaches. That just goes to show that you don’t need a popular coach to get valuable insight from them.

Myth 5: Business coaching is a fad

Business Coaching has been an established industry for decades. It’s not just a fad. In fact, it is now only getting more popular with new start-ups and companies popping up every day.

In the early 1970s, the concept of coaching in sectors such as sports and music was extended to business. IBM was one of the first international conglomerates to adopt business coaching in the early 1990s.

To conclude…

Businesses in nearly every industrialized country, including Australia and the United Kingdom, took note of IBM’s introduction of business coaching. Today, many companies, regardless of their size, have joined the big corporations by embracing business coaching.

This is because it offers a unique angle to doing business and can drive progress in an invaluable way. Hiring a business coach for your company will never be a decision you will regret.


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