Hiring a business coach can be an excellent way to gain a new perspective. At the end of this year, I decided to hire a business coach after going without one for a few years. It’s one of the best decisions I’ve made lately.
She’s helping me refocus my product offerings and sales funnels in a way that makes sense. But hiring a business coach can be a big fat waste of time and money if you’re not prepared for the experience.
Here’s how to know when it’s the right time for you to invest the cash:
You Have at Least a Semi-Clear Goal in Mind
A business coach is not a magician. They need something to work with. If you’re completely at a loss as to what you want in your business and life, you should do some soul searching before hiring someone.
Don’t get me wrong; a business coach will probably take you on as a client even without you being clear on what you want. The downside to this is you probably won’t get as much value from the experience. You need to bring to the table (at minimum) goals, ideas, market research, and a thorough understanding of your strengths to truly benefit.
You’re Committed to the Process
Business coaches are not a small investment. They usually cost at least a few thousand dollars. Don’t invest in a business coach unless you’re willing to do the work. The good thing about investing this type of money is that it can be just the thing that inspires you to get your act together.
Be honest with yourself. If you’re going to invest in business coaching make sure you’re at a place where you’re willing to get scrappy to earn the money back.
You’re Not Coachable
The point of a coach is to push your limits. You’ve been doing what you’ve been doing for a while, and it may not be working. A coach is an unbiased eye that looks at your business in its totality (or in specific areas) and points out where you can improve.
Hiring a coach will not be worthwhile if you’re unable to step outside of your comfort zone. To be frank, you’ll never feel ready to push your limits. You just have to get to a point where you feel brave enough to push through your doubts.
Business coaches can push you, but they can’t work miracles. We have to create our own “miracles” with persistence. It’s hugely important to consider the type of coaching program that you sign up for before moving forward.
Do you want something one-on-one or would you prefer a group program? Should you find a coach who offers a lot of accountability? Do you need help improving your mindset? Do you need help with more tactical aspects of your business like creating a marketing plan or setting up business systems?
Investing your money in the wrong coach is a surefire way to find yourself dissatisfied with the results.