Are you thinking about hiring a business coach? You’re not alone. In recent years, the demand for business coaching services has exploded. With the promise of skyrocketing profits and increased productivity, it’s no wonder that so many business owners are eager to invest in a coach.
But before you write that check, there’s something you should know: the failure rate of business coaches is staggeringly high. In fact, according to some estimates, as many as 80% of coaches fail within the first two years.
So what is it that separates successful business coaches from unsuccessful ones?
What causes such a high rate of failure? And more importantly, how can you avoid becoming a statistic? Keep reading to find out.
Lack of Credibility
One of the biggest reasons business coaches fail is because of their lack of credibility. This can be for several reasons, but most often, they don’t have any real-world experience running a successful business. If you’re going to be a business coach, you need to be able to walk the walk, not just talk the talk.
Lack of Focus
Another reason why business coaches fail is because they lack focus. They try to be all things to everyone and spread themselves too thin. As a result, they’re never really able to get good at anything. To be a successful business coach, you need to focus on one thing and become the best at it.
Lack of differentiation
Another reason why business coaches fail is because they lack differentiation. In other words, they’re not offering anything their clients can’t get from anyone else. To be successful as a business coach, you need to find a way to stand out from the crowd and offer your clients something they can’t get anywhere else.
The Pressure to Perform
One of the biggest challenges facing business coaches is the pressure to deliver results—and fast. After all, when you’re paying someone hundreds or even thousands of pounds per month, you expect to see a return on your investment almost immediately.
Unfortunately, this isn’t always possible. Real, sustainable change takes time. And often, the most impactful changes are those that take place slowly over time, not overnight.
Some of the problems
Time
The problem is that many coaches rely on gimmicks and quick fixes to speed up the process. They promise their clients they’ll see results in weeks or even days. But when those results don’t materialise, the client gets frustrated and looks for someone else to deliver on their promises.
Not Enough Training
Another reason why business coaches fail is that they simply aren’t properly trained. While some great programs out there can teach you how to be an effective coach, there are far more that are nothing more than scams.
As a result, many coaches enter the profession without real skills or training. Sure, they might be able to give good advice based on their experiences. But when it comes to helping their clients achieve real, lasting success, they’re at a loss because they simply don’t have the tools or knowledge necessary to do the job
What Makes a Business Coach Successful
The answer, it turns out, is twofold. First and foremost, successful business coaches have a deep understanding of human psychology. They know what motivates people and how to tap into those motivators to help their clients reach their goals. Secondly, successful business coaches are excellent communicators. They know how to listen to their clients and understand their needs. They also know how to articulate complex ideas in a way their clients can understand and act on.
These two factors – an understanding of human psychology and excellent communication skills – distinguish successful business coaches from unsuccessful ones. If you’re considering becoming a business coach, make sure you have both qualities before taking the plunge. Otherwise, you’ll likely become one of the 80% who fails within their first year.
What to Expect From Your Business Coach
Additionally, be realistic about what you can expect from your coach. Give them the time they need to help you achieve your goals. Finally, ensure you’re clear about what you want to get out of the coaching relationship from the outset. This will help ensure that you and your coach are on the same page and working towards the same objectives.
How can a business coach from ActionCOACH be more successful than other coaching companies?
Business coaches from ActionCOACH are certified, deeply understand human psychology, and are excellent communicators. They all undergo rigorous training to ensure they know what they’re doing, and they only take on clients they feel confident they can help. This allows them to build trust with their clients, which is essential for a successful coaching relationship.
If clients are unsatisfied with their business coach from ActionCOACH, we will refund the client’s coaching fees. This guarantee shows that ActionCOACH is confident in its ability to provide successful coaching services.
Starting at the beginning, as you decide if coaching is right for you, we ask ourselves if you’d make a great client. We pride ourselves on our success, and your success is our success – after all, we are engaged in supporting you and facilitating change in you and your business.
We are refreshing because we’ll also give you an open and honest perspective. This will always be with the intent of supporting you to grow and will contain honest truths. Facing the reality of a situation enables us to address the real issues together and construct the right solutions.
Going deeper than the surface or just symptoms and getting to the cause helps us help you succeed.
We want our clients to succeed and balance the healthy challenge they need with positive reinforcement of their vision and goals. Not just in business goals but your personal goals as well. This alignment between personal and business goals helps create the perfect motivational environment for you to flourish.
Everything between you and your coach is completely confidential, which is why we can share with you proven systems from our Worldwide coaching community.
Your openness also helps unlock your full potential, which is often untapped in busy, stressed business owners before they discover us.
We believe in our clients and remind them what they can do when they challenge old beliefs and open their minds to learning.
Our clients are ambitious, committed, and open-minded.
They are generally not complacent with the success they have already achieved – which is a killer for many businesses. As individuals grow, their goals often change from monetary to time to philanthropy. Your goals are not for us to judge. We check, challenge, and support you in achieving your goals.
Those wise in business will have avoided or learned lessons the hard way from those consultants promising instant fixes!
At ActionCOACH, long-term success means we aren’t just offering suggestions or doing the work for you; it means doing the work with you, showing you how to do it, working alongside you, and creating success together.
All our coaching programs run as 30-day rolling programs as we believe that the results of our coaching should be the only thing committing you to continue investing in yourself. To gain the greatest benefit from coaching, you must, at the outset, be willing to commit to 12 months of continuous coaching mentally.
Action plans are implemented to make goals a reality and enable you to learn and develop as a business leader. We are so often thanked for holding people to account – because the easiest person to let down is yourself!
To put it simply, your success is down to you.
You have to want it and be willing to take ownership and action. Then with the support of a great coach, you can unlock your full potential and that of your team/business.
ActionCOACH has helped businesses worldwide achieve their goals through its proven coaching methods.
Contact us today at 01442 773310 or email westherts@actioncoach.co.uk for a FREE Business coaching session.
