Business coaching is definitely a little mysterious until you’ve used it personally. Do business coaches just enter your company and start fixing its problems? There must be a reason why business coaches are employed by the majority of Fortune 500 organisations.
“Of course, the numerous misconceptions about business coaching that are spread by people don’t help either.” Says Jason Shiers, an expert Business Coach in Leeds. It’s time to dispel some of them while simultaneously urging CEOs, managers, and small firms to attempt business coaching.
Hundreds of prosperous small companies are currently doing it and benefiting greatly from it all around the world. so, to make sure you don’t miss out on any opportunities, here are five myths about business coaching.
Myth 1: Coaching Is Only Needed If Your Business Is Failing
It’s a popular misconception among many people that business coaching should only be used as a last resort when your business is failing. While some do seek it to save a sinking ship, many others already have successful businesses but seek coaching for growth.
This false belief that coaching is some kind of last resort has led to the discouragement of many owners of established companies from mentoring because they believe they have nothing to gain. However, business coaching isn’t only for failing businesses with overburdened owners.
A good business with the right insight and coaching has the potential to become a great business. The advantages of coaching are well known among successful executives and company owners. Even Microsoft’s Bill Gates and Google’s Eric Schmidt agree that working with a coach has its benefits.
Myth 2: Coaching Is Expensive
Most people think that coaching will be more costly than it really is. Especially if you look at it as an investment rather than an expense. There are many choices when it comes to business coaching, including one-on-one, group programmes, and cohorts, all of which come with varied price tags.
If you’re dedicated to improving yourself, you can easily locate a programme that works with your spending plan.
In fact, investing in coaching today can help you achieve your financial, professional, and personal objectives more quickly. The quickest way to develop yourself, overcome limiting beliefs, change the narrative you tell yourself, and eventually achieve where you want to go is via coaching.
Myth 3: Coaching Is Taking The Easy Way Out
Many people have this misconception that all your problems will be fixed once you find a business coach. This kind of mindset is very non-conducive to growth and learning. The coach can only provide you with guidance on your journey. To arrive at the destination, you will have to put in 100% of your own hard work and effort.
You must learn how to handle things on your own if you want to make long-lasting and beneficial changes in your company. A coach cannot spoon-feeds you all the solutions.
Then that will hinder your growth and make you dependent on the coach for future problems. Coaches just hand you tools that you might have never thought of using before to solve problems and take your business to the next level.
Myth 4: The Coach Has To Own A Successful Business To Be Credible
You might think that if the coach is coaching a Fortune 500 company then they should also own one as well.
But that doesn’t always have to be the case. While many coaches have successfully built their own companies 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 picking out what tools and training a business needs to 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 to have a popular coach to gain some valuable insight from them.
Myth 5: Business Coaching Is A Fad
Business Coaching has been an established industry for many decades now. It is not merely a fad. In fact, it is only getting more popular now with new start-ups and businesses popping up every day.
Early in the 1970s, the concept of coaching in industries like sports and music was extended to the corporate sphere. IBM was one of the first international conglomerates to adopt business coaching in the early 1990s.
The business community in almost every industrialised nation, including Australia and the United Kingdom, took note when IBM introduced business coaching. Today, many businesses, regardless of their size, have joined the major corporations in embracing business coaching.
This is because it offers a unique angle to conducting businesses and can drive progress in an invaluable way. Hiring a business coach for your company will never be a decision you regret.