On the last two episodes, James and Megan discussed Accountability Partners and Mastermind Groups. Let’s assume you already have some support structure in place, and you’ve found a level of success in business. You aren’t just starting out. But you want to try something new or expand your business beyond where it is. This is how to do it!  

Our topic: Coaching!

Why would a successful person need coaching?:

• It’s easy to see that someone who isn’t successful needs help.  They can use someone to come along side them and help them master something that is obviously holding them back.
• But what if it isn’t so obvious?  What if you’re blind to the things that are keeping you from even greater success?
• We need to be brutally honest with ourselves.  And the truth is that no matter how well we’re doing, there’s probably room for improvement.  There are greater things to be accomplished.  Entrepreneurs are built to see new opportunities, but coaches can see where entrepreneurs all to often can’t.
• The greatest athletes still have coaches.  The greatest actors and singers still have coaches.  So why not the greatest business people?  Well, they do!

What does a coach do for a business owner?:

• First, it’s important to not just hire someone who calls themselves a coach and say “make me better” or “make my business better”.
• You need to define specific and measurable results that you want so that you can find the right coach.  Even though new things may result from the coaching experience, knowing areas for improvement and finding the right coach to start with will go a long way.
• Good coaches will assess where you are, whether you are open to coaching and willing to change, and the best will tell you when they aren’t the right coach for you.
• A coach is a teacher, a confidant, and drill sergeant.  They will push you to be better.  They will give you specific results.  And if they’re really good, you’ll love them for making you cry.  They’ll find a raw nerve and work on it until it’s better.

How can you get the most out of hiring a coach?:

• In addition to being specific about what you want, a coach should be specific about the purpose of the coaching and the outcomes you can expect.  Those outcomes could be tangible (profits, processes, products, etc.) or intangible (feelings, clarity, etc.).  Set these expectations before beginning (a good coach make sure it isn’t generic or open-ended).
• A good coach will have applicable experience but not absolute achievement.  It will depend on your specific need, but they may not have achieved the pinnacle of success in that arena.  Those who are the absolute best either no longer need to coach or will be priced out of reach for most of us.  Also, those who have achieved the greatest success may not be the best at teaching others.  Think of the best sports coaches and the best sports players…rarely do those lists overlap.
• Be clear on who works for whom.  Some coaches are natural encouragers, while others will get in your face.  The coach’s style needs to fit the situation and what gets results, so don’t settle for a wimp or a bully.  Personality fit matters in these situations.
• Don’t hire someone who will work with anyone.  They are either desperate or greedy.  A true coach will tell a prospect if they are a fit for them or not (and you’ll see them evaluating you if you watch).  Most can recommend another coach if they are unavailable or not right for you.
• One last thought…coaches value coaching.  Ask your potential coach about the times that they’ve been coached.  No one knows it all and we all–even coaches–have room for improvement.

Action Steps:

1. Watch The King’s Speech, even if you’ve seen it already.  It’s a powerful example of the power of a coach and what happens when you allow yourself to be coached…even if you’re the King!
2. Take a serious look at yourself and your business and determine three areas where you could benefit from coaching.
3. Ask your friends and peers about their coaching experiences.  They may be able to recommend someone who has helped them that could help you.
4. Hire a coach and see what happens!  If you hire smart and follow through, you’ll benefit far beyond the cost of the coaching.

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