As CEO Kelli Richards writes in her article The Secret Weapon of Billionaire CEOs and other Wildly Successful People, the success of businesses can start to plateau. Leveling up and business growth requires a fresh, outside perspective – a coach. Their insight, as successful professionals in their own field, often shines a light on weak spots in a business that entrepreneurs miss because they are too close to the situation. That is just one benefit of coaching.
Richards highlights three main benefits to coaching besides professional development: objective feedback, a broader network, and fresh ideas. All of them rely on the importance of having an outside, informed, objective perspective. A coach’s feedback is valuable because of their distance from day to day operations. They are invested in their client’s success, but not in their client’s business. A coach also provides connections to other successful people in the industry who can help a business grow. Their experience also means familiarity with challenges a business owner could be facing for the first time. Their knowledge and advice can help you move forward and achieve goals.
While coaching can be incredibly beneficial, business owners can only see the benefits if they put effort into cultivating this relationship as well. The effort must be mutual. Richards suggests the three most important pieces of advice to develop a successful coaching relationship are to take responsibility, emphasize honesty, and pick the coach’s brain. Business owners must be responsible and actually implement the suggestions of their coaches and then update coaches on their progress, so strategies can be adjusted accordingly. If something is not working, a coach should be trusted, so the business owner should be 100% honest in describing what did and did not work in the situation at hand. Moreover, a coach’s experience means knowledge of the industry and limitless advice. Use their experiences to help shape your own- it could be the difference between successful and WILDLY successful.
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