Entrepreneurs are the business environment’s risk-takers. They identify an existing problem, devise a solution, and offer services or products to address the issue. Facebook, LinkedIn, YouTube, Google, Apple, Samsung, Tesla, and Microsoft solved the problem of underdeveloped technological evolution. These companies and their founders did something that resulted in a technological and societal revolution.
Why did they manage to achieve such lofty goals despite numerous setbacks along the way? The answer is simple: they take huge risks and are bold in their decisions and goals.
Coaching is similar in that it assists you in discovering your true vision and aligning it with your core values and purpose.
What exactly is coaching?
Entrepreneurial coaching unlocks your untapped potential and assists you and your business as you grow in an ever-changing and dynamic business environment. During Covid-19, the fragile times and economic turmoil suggest considering coaching and providing people with solutions to their problems.
Why was a video conferencing platform called Zoom more popular than Skype at the start of the pandemic? The solution is based on frictionless usability and convenience for users worldwide. Zoom became the new go-to platform because it made video conferencing so simple for its users. Both “Let’s Google it” and “Let’s jump on a Zoom” have become clichés.
The solution to an already solved problem came when Zoom’s founder and CEO, Eric S. Yuan, decided to provide an easy software application for video conferencing. Yuan’s dedication and teamwork resulted in software that enabled students to meet for classes, entrepreneurs to connect for business meetings, and families to reunite with their relatives during a period of social distancing and isolation.
Zoom’s success is due in part to Yuan’s understanding of his surroundings, as well as his belief in his problem-solving abilities and need to be purposeful. The same could be said for founders like Elon Musk and Steve Jobs.
These characteristics, however, are not limited to them. You, too, can put your skills and abilities to use by becoming fully aware of yourself through coaching. Here are the top five advantages of coaching.
1. Identifying and concentrating on the most important issues
Coaching, as previously stated, assists you in identifying and focusing on the critical aspects of your professional and personal traits, values, and purpose. You may become perplexed if you constantly receive random “advice” from your stakeholders and colleagues.
A coach, on the other hand, assists you in finding the right balance by asking deep and meaningful questions about life, relationships, and friendships. They want to elicit a set of core values and personality traits in order to purposefully reorient your disoriented self back into the game.
2. Recognizing your own flaws and blind spots
A coach can help you narrow down and target areas that you might overlook. Identifying your weak points and blind spots protects you from future threats and prepares you to better understand yourself for the benefit of your business.
3. Developing a competitive advantage
Self-awareness is a necessary step in staying ahead of the competition. When you are self-aware, you discover answers to questions you may not have considered previously. Coaching can help you gain the confidence you need to take bigger risks and achieve bigger goals for yourself and your business.
A coach is the “tough love” friend you wished you had as a child. They will encourage you to devote your time and energy to developing an adaptive self.
4. Abundance of wealth in your company
When you work with a coach to improve aspects of your personality, core values, and ambition, you are stacking the odds in your favor. You have dedicated your time, energy, and resources to creating a legacy. Ambition, self-awareness, and business knowledge all contribute to more abundance in your professional and personal life.
5. Establishing yourself as an influential member of your community
Humans are drawn to people in positions of power and influence. A community leader who is a source of inspiration for many is an appealing prospect.
Do you consider yourself a leader? Do you want to have an impact on others and be a source of inspiration? Then you’ve already got an answer. A coach will assist you in determining how, when, and where to use your abilities to achieve the best results. After all, the world has 7.9 billion people who can benefit from an influential and courageous leader who inspires new possibilities.
Having said that, how do you find a good coach? Here are three ways to spot a great coach.
- Business and entrepreneurial experience
Do they represent self-leadership, and are they themselves leaders and entrepreneurs?
It is much easier to achieve great success when you share the same vision with someone who is invested in your success. Maintain an adaptable mindset and be open to receiving insights from a leader who can assist you in uncovering answers to your own questions.
The first way to tell a good coach from a great one is to look at their entrepreneurial and corporate experience. The quality of your coach’s advice and wisdom will determine your purposeful growth. Find a coach with more than ten years of entrepreneurial experience. Examine their own entrepreneurial success — do they walk the walk?
- Results vs. motherhood assertions
Do they prioritize outcomes?
Entrepreneurs must be able to ask (and answer) questions about every challenge and lead their teams through daily struggles. Entrepreneurs fail due to their inability to understand the market and their target audiences. Because of the global health and economic crisis caused by Covid-19, the market is extremely volatile.
Find a coach who focuses on results rather than making fluffy motherhood statements. Request client testimonials to determine whether the coach is worth your time and effort.
- The desire to invest in oneself
Do they have an abundance mindset or a scarcity mindset?
The coach should have an undeniable desire to invest in themselves first and prioritize personal development. Personal development should be prioritized alongside investments in marketing, sales, and finance. Inquire about the habits that have aided their personal development.
Coaching is about identifying your internal and external flaws, accepting them, and wanting to improve on them. How do you think your employees, colleagues, and company stakeholders perceive you if you are unwilling to adapt, cannot understand yourself, focus on the negatives in life, and have obvious blind spots?
A lived-experience coach will assist you in seeing yourself from a different perspective, instinctively sharing your perception of the type of “vibe” you share with others, and assisting you in adapting to create new possibilities.
Why should entrepreneurs think about coaching?
According to Coach Federation.org, the coaching industry will be the second-fastest growing industry in 2020, with an annual average growth rate of 6.7 percent.
Among the well-known celebrities, politicians, and business owners who have had coaches are Barack Obama, Oprah Winfrey, Hugh Jackman, Serena Williams, and Leonardo Di Caprio.
Do you feel compelled to think about coaching more seriously now? It would be beneficial if you could find the right coach to guide you through the entire process of self-discovery. Investigate what will work best for you, and then interview them to see if they are a good fit.
Remember that the business world is ruthless, and you must be dynamic in all aspects of your life to protect and preserve your legacy. Empathy is essential, but so are logic, strategy, and implementation.