As the world of business moves faster and gets more competitive, it is difficult to keep up with both the changes in your industry as well as the innovations in sales, marketing and management strategies. As entrepreneurs, financial professionals often forget to step back and reflect. Unfortunately, this may lead to building a practice that isn’t in alignment with the life they want, isn’t suited to their unique strengths and isn't as meaningful as they had hoped.
No matter what stage your practice is at, a business coach can make you work harder and progress faster than you would on your own. Simply put, a business coach can give you both the tools and perspective you need to go from point A to point B.
Business coaches have one goal: to make your ideas into a reality. Business coaches will evaluate your plans, assess if they are realistic or will be successful, and then set out a way that you can implement them correctly. A coach can deliver a proven method to success and can help you take your business to the next level. Simply put, coaching works.
Studies have shown that advisors who participate in a coaching program realize a dramatic improvement in their practice. Here are 10 of the most commons reasons advisors seek out a business coach:
- They want to increase their income and improve their financial security
- They want to improve productivity and time management
- They want to be accountable
- They want to gain a competitive advantage
- They want to get out of their comfort zone
- They want to become a stronger leader
- They want to learn how to better manage people
- They want to accomplish goals, task and project more quickly
- They want to prioritize risk
- They want to build out their brand
Although the responsibility for achieving these identified goals ultimately belong to you, a good coach ensures those goals are clear, your path to success is mapped out and that you remain focused and motivated.
Keep in mind your coach is not there to give you the answers – that is what a consultant does. A coach helps you come to your own conclusions to reach your goals. At times the conversation may be difficult, but a good coach will be honest and forthright, discussing things you may not want to hear or discuss.
There are several key attributes that you will need to bring to the coaching relationship to ensure its success. You know from experience achieving success is not easy. It takes a willingness to make sacrifices, lots of hard work and perseverance to keep at it until you find your path.
After all this coaching and leading through change, how can you tell if it is working? Well, there are at least five ways you can identify the results from coaching.
- Personal satisfaction of achieving your goals
- Knowledge and insights you gained going through the coaching process
- Behaviors and skills used to apply the knowledge and insights in your practice
- Appearance of new processes and systems in your practice
- Positive economic impact that resulted from participating in the coaching program
If you want to get your business to the next level, a business coach is just the person to guide you there. With their expertise, the sky is the limit!
Written by Securities America for distribution by Robert Santoriello